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Lending standards slip, risk increasing according to OCC

Abrigo

Lending standards continue to relax, according to data from the OCC’s 2014 Survey of Credit Underwriting Practices. This type of easing is similar to that experienced between 2004 and 2006, the time period leading up to the financial crisis, which many attribute to inadequate lending standards.

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Lending Club’s Renaud Laplanche Is Back With A New Venture

PYMNTS

Renaud Laplanche, Lending Club’s former CEO, is back with a new internet lending startup called Credify Finance Corp. But despite its early status, Credify comes into the market pre-wired for lots of attention — since its founder is both famous and infamous in online lending circles. Department of Justice.

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CFPB: More Servicemembers Use VA Loans For First-Time Homebuying

PYMNTS

The CFPB also said the median loan amount for first-time homebuying servicemembers with a VA loan increased — as measured in nominal dollars —from $156,000 in 2006 to $212,000 in 2016. The rise showed a slower pace of gains, growing from $130,000 in 2006 to $150,000 in 2016.

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General Motors faces ‘big task’ in building a bank: Ally CEO

American Banker

That could create more competition for Ally, which was spun off from GM in 2006 but remains a key lending partner. The automaker is reportedly planning to apply for a bank charter so it could collect deposits and grow its own auto-finance business.

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Inflated Credit Scores Put Lenders At Risk

PYMNTS

Bloomberg reported there are about 15 million more consumers that have credit scores of more than 740 today than back in 2006. What’s more, Bloomberg cited Moody’s as saying there are around 15 million fewer consumers with scores under 660 today then back in 2006.

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Timeline: The First Decade Of Alternative Lending

CB Insights

UK-based lender Zopa pioneered peer-to-peer (P2P) lending in 2005, quickly followed by US contenders Prosper Marketplace and LendingClub in 2006. By December 2014, venture-backed alternative lenders OnDeck Capital and Lending Club had gone public on the NYSE. from investors. FINTECH TRENDS Q3 2017 RESEARCH BRIEFING.

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What's With Regulator Agita Over Bank Commercial Real Estate Lending?

Jeff For Banks

Today, I read an American Banker article on how a multi-billion dollar bank is going to ramp up its business lending. To remind readers, in 2006 the OCC, Federal Reserve, and FDIC issued joint interagency Guidance on Concentrations in Commercial Real Estate Lending. They need a marketing person to title their reports.

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