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May 23, 2016 02:00 am GMT
A friend who recently started his own business couldn’t obtain a mortgage from three banks. I suggested he try marketplace lending platforms like SoFi to take advantage of the ongoing innovation in fintech. However, SoFi turned him down, as well, because it abides by the same underwriting rules as traditional banks. Like the banks, SoFi sells their mortgage loans to Fannie Mae. Read More
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YDbH_ZX33Bg/
How will marketplace lending become a mainstream investment asset class?
A friend who recently started his own business couldn’t obtain a mortgage from three banks. I suggested he try marketplace lending platforms like SoFi to take advantage of the ongoing innovation in fintech. However, SoFi turned him down, as well, because it abides by the same underwriting rules as traditional banks. Like the banks, SoFi sells their mortgage loans to Fannie Mae. Read MoreOriginal Link: http://feedproxy.google.com/~r/Techcrunch/~3/YDbH_ZX33Bg/
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