Better Mortgage is now offering mortgage loans in thirteen states with the expansion to Florida; the lender offers a number of advantages for borrowers including a 100% digital experience and a verified pre-approval letter for qualified borrowers within 24 hours; with the licensing in Florida, Better Mortgage gains access to lending in Tampa and Jacksonville, recently reported as two of the healthiest housing markets in the country. Source

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News Roundup Online Lending USA

·Aug. 29, 2017

Online Lender Float Rumored to Have Closed

Sources have reported to Crowdfund Insider that the platform has shut down; the online lender was providing lines of credit for up to $1,000; it last raised $3 million in February 2017. Source

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News Roundup Online Lending USA

·Apr. 3, 2017

Online Lender Jet Capital Increasing Small Business Lending in Albuquerque

Jet Capital is a Dallas-based online lender primarily lending to underserved small businesses; it was launched in 2015 and currently focuses on businesses with 20 or fewer employees; the firm has identified Albuquerque as a growing target market with over 28,000 businesses in its target range; the firm's cash advances average approximately $25,000 and with the payouts, the company also purchases rights to future sales. Source

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News Roundup Online Lending USA

·Mar. 16, 2017

Online Lender Marlette Funding Announces Reduction of Workforce

Marlette Funding has announced plans to cut one-fifth of its workforce as the company scraps plans for expansion to new verticals and remains focused on its online unsecured personal loans; the company has reported significant lending growth with over $3 billion in loans originated through its Best Egg brand in the first three years in business; the more conservative strategy follows some signs of increasing defaults, plans for new regulations and slowed capital investments. Source

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News Roundup Online Lending USA

·Apr. 6, 2017

Online Lenders Battling Colorado over 12% Rate Cap

Avant and Marlette Funding are battling state law in Colorado; the state has a 12% rate cap for consumer loans and both lenders advertise loans that exceed that limit; both partner banks that work with the online lenders have filed lawsuits against Colorado claiming the interest rates they charge are acceptable by federal law because of the charters they hold from their state. Source

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Fintech News Roundup USA

·Apr. 8, 2020