Increased home prices combined with available capital are supporting renewed interest in house flipping; the number of investors buying and selling a house within a few months has increased to the highest level since 2007; current investors are reporting an average profit of approximately $61,000; big banks are now more interested in financing real estate lending for house flipping deals and more online lending platforms are facilitating these investments; real estate crowdfunding companies seeing increased activity from house flipping customers include 5 Arch Funding, LendingHome Corp., Asset Avenue, Groundfloor Finance and Anchor Loans. Source
Tuesday's 3.2% GDP growth rate report is an indication of expanding economic growth in the US which increases the probability of a rate hike from the Federal Reserve in December; a continued positive trend in economic growth is also likely to lead to five interest rate increases through 2018; consumer spending appears to be the leading catalyst for current economic growth and the source cautions that it could lead to problems for the marketplace lending credit market; consumer spending has been driven by increased credit balances but as rates rise, risks from these borrowers are also likely to increase which could affect platform defaults and securitization portfolios with the greatest risks in unsecured loans. Source
2019 has become a big year for fintech mergers and that trends look to continue for some time; payments in...
Boston based fintech Trio is betting that customers would rather higher returns on their money versus deposit insurance as they...
True Link Financial provides financial services to the elderly, disabled people and those who are recovering from addiction; the company...
TrueAccord provides a data-driven debt collection platform; the company uses machine learning to communicate with consumers using the right channel at the right time; Ohad Samet, Chief Executive Officer stated, “It was the personal experience of dealing with a debt collector that made me realize the traditional collections industry was ripe for disruption with technology innovation and a more human approach. With changing consumer preferences, strong regulatory support for innovation, and clients who understand a customer-focused collection process is good for their business, we're experiencing tremendous demand from the market. We are seizing this opportunity to use machine learning to humanize debt collection for good.”; The round was led by Arbor Ventures Fund. Source
For most people the debt collections experience is big burden and not something they want to discuss; TrueAccord is helping...
TrueAccord offers software which enables banks to negotiate debt payments with distressed borrowers; they are now launching a direct to...
Wall Street trading firm TrueEx is launching a derivatives platform for cryptocurrency and they have also entered into a partnership with ConsenSys; the partnership with ConsenSys will focus on building a benchmark for ether; the derivatives marketplace is pending review by the CFTC and is looking to list non-deliverable forward contracts for cryptocurrency. Source.
Truist Financial unveiled their new brand which the bank hopes will represent personal touch and their technology offering; Truist Financial...