Executives at some half-a-dozen U.S. online lenders who spoke to Reuters said worsening economic indicators and forecasts have made them more cautious by annairrera
NEW YORK - U.S. online lenders such as LendingClub Corp, Kabbage Inc and Avant LLC are scrutinizing loan quality, securing long-term financing and cutting costs, as executives prepare for what they fear could be the sector’s first economic downturn.
Their underwriting methods also often include analysis of non-traditional data, such as education level of borrowers. While platforms see that as a strength, it has yet to be tested in times of crisis. “We were seeing economists bringing up some warning signs, and we were following the Fed signals and that they were becoming more dovish,” said Bhanu Arora, the head of consumer lending at the Chicago-based lender Avant. “We wanted to be prepared and ready.”
Sanborn said the company has gotten more stringent about credit standards for borrowers on its platform and is attracting investors with broader risk appetites in case the more cautious participants pull back.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Japan faces recession risks with dearth of ammunitionJapan appears to have dodged a recession thanks to resilient business spending b...
Consulte Mais informação »
Wharton's Jeremy Siegel on Trump, China and risk of recessionUniversity of Pennsylvania professor Jeremy Siegel says President Trump's impact on the stock market and economy has been positive overall.
Consulte Mais informação »
Gardening could reduce your risk of a heart attack, study findsA new study suggests that even low-to-moderate level physical activities like gardening can have a major impact on your health. - TODAYShow
Consulte Mais informação »
Oil prices slip on economic worries, surging U.S. crude supplyOil prices were dragged down on Thursday by surging U.S. crude stockpiles and re...
Consulte Mais informação »
U.S. Senate leader McConnell notes Republican worries over Cain serving on FedU.S. Senate Majority Leader Mitch McConnell on Thursday withheld comment on whet...
Consulte Mais informação »
Trump's Fed shakeup could leave US policymakers' hands tied during a recessionEconomists say that Trump's potential Fed nominees could hinder the central bank's ability to respond to a recession.
Consulte Mais informação »
U.S. senators' new bill would ban online 'dark patterns' that trick consumersU.S. Senators Mark Warner, a Democrat, and Deb Fischer, a Republican, are introd...
Consulte Mais informação »
US earnings may fall into recession, but Blackstone says it's still bullish on stocksWhile there are fears that an earnings recession in the U.S. could happen this year, Blackstone's chief investment strategist says it doesn't mean there would be an economic recession. In fact, there's a buying opportunity.
Consulte Mais informação »
Delta reduces seat recline to reduce conflict in the airDelta Air Lines is retrofitting its fleet of Airbus A320 jets to reduce seat recline in an effort to ease passenger conflict
Consulte Mais informação »