Quoting data from Transunion the Wall Street Journal is reporting that 106 million loans have been enrolled in forbearance, deferment...
TruVision Consumer Property Insights for Portfolio Management protects borrowers and lenders through a holistic view of property value fluctuation risks.
The higher your credit rating, the more likely you are to feel good about the current state of credit. That is a key takeaway from TransUnion’s Q3 2023 Quarterly Credit Industry Insights Report.
Loan stacking has reportedly been influencing an increase in default rates for marketplace lenders; TransUnion has reported data on delinquency rates and online fraud; firm announced an expansion of its Fraud Prevention Exchange at LendIt USA to help mitigate online lending fraud and specifically loan stacking. Source
TransUnion added lending decision firms to its Strategic Alliance Distribution Partner Program, like the fintech Provenir and GDS Link.
Recent news on consumer lending players IEG Holdings Corporation, OneMain Holdings, Lending Club, Ally Financial and TransUnion is outlined in a press release; of interest is IEG's announcement and offer to purchase all outstanding shares of OneMain and Ally's recent agreement to support contracts from Carvana, an online auto retailer that also operates vehicle vending machines; according to the press release, "Ally will make up to $600 million available to Carvana over the next 12 months through financing and bulk purchases of contracts." Source
Online lending appears to be driving increased personal loan borrowing from millennials; data from TransUnion says 4.33% of millennials obtained a personal loan in 2015 and online lenders accounted for approximately 30% of the personal loan market last year; TransUnion also reports that millennials are more conservative about credit card debt with two fewer cards on average than the previous generation. Source
Wednesday, Federal Reserve chair Jerome Powell announced the fed would raise interest a half a percent to combat post-pandemic inflation.
TransUnion's latest quarterly study found most Americans could be experiencing a 'personal recession' with 54% stating their incomes were not keeping up with inflation.
A recent report by the Cleveland Fed on online lending has caused quite the controversy over its content; the Marketplace Lending Association said the Fed should retract the report; even TransUnion, whose data the report relied upon, took issue with how they presented the material; “We have no understanding of how the Federal Reserve Bank of Cleveland could have used our data to reach the conclusions they did,” Ezra Becker, SVP at TransUnion, said to American Banker; the Fed stated the terminology used in the report has caused confusion but have yet to retract the report. Source.