Loans

FinTech Platform "Loanz" Launches for specific purpose, to give Personal Loans Nationwide

Retrieved on: 
Wednesday, July 21, 2021
Money, Finance, Loans, Economy, Business loan, LendingClub, Student loans in the United States
Key Points: 
  • DELAWARE, Md., July 21, 2021 /PRNewswire/ -Loanz, a long standing FinTech platform has launched in North America with one sole purpose, to provide personal loans to consumers Nationwide.
  • Our platform, Loanz, now has the ability to provide Personal Loans through a fully digital process , an initiative that we have been working on establishing for many months".
  • Loanz offers personal loans as low as $1,000 and as high as $15,000 on a 1-year to 5-year term basis.
  • Consumer Genius allows borrowers to compare rates from multiple lenders, comparing credit card rates, car loans, personal loans, small business loans and even credit rebuilding services.

Oxford Square Capital Corp. Schedules Second Quarter 2021 Earnings Release and Conference Call for July 27, 2021

Retrieved on: 
Tuesday, July 20, 2021
Loans, Communication, Forward-looking statement, Collateralized loan obligation, CLO, Economy, Articles, Financial law

GREENWICH, Conn., July 20, 2021 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) announced today that it will hold a conference call to discuss second quarter 2021 earnings on Tuesday, July 27, 2021 at 9:00 AM Eastern time. The toll free dial-in number is 1-888-339-0740. There will be a recording available for 30 days. If you are interested in hearing the recording, please dial 1-877-344-7529. The replay pass-code number is 10159023.    

Key Points: 
  • GREENWICH, Conn., July 20, 2021 (GLOBE NEWSWIRE) -- Oxford Square Capital Corp. (NasdaqGS: OXSQ ) (NasdaqGS: OXSQL) (NasdaqGS: OXSQZ) (NasdaqGS: OXSQG) announced today that it will hold a conference call to discuss second quarter 2021 earnings on Tuesday, July 27, 2021 at 9:00 AM Eastern time.
  • About Oxford Square Capital Corp.
    Oxford Square Capital Corp. is a publicly-traded business development company principally investing in syndicated bank loans and debt and equity tranches of collateralized loan obligation (CLO) vehicles.
  • This press release contains forward-looking statements subject to the inherent uncertainties in predicting future results and conditions.
  • Certain factors could cause actual results and conditions to differ materially from those projected in these forward-looking statements.

OFS Credit Company Provides June 2021 Net Asset Value Update

Retrieved on: 
Tuesday, July 20, 2021
Professional services, Finance, Finance, Money, Loans, Collateralized loan obligation, Mortgage, Net asset value, Economy

OFS Credit Company, Inc. (NASDAQ: OCCI) (“OFS Credit,” the “Company,” “we,” “us” or “our”), an investment company that primarily invests in collateralized loan obligation (“CLO”) equity and debt securities, today announced the following net asset value (“NAV”) estimate as of June 30, 2021.

Key Points: 
  • OFS Credit Company, Inc. (NASDAQ: OCCI) (OFS Credit, the Company, we, us or our), an investment company that primarily invests in collateralized loan obligation (CLO) equity and debt securities, today announced the following net asset value (NAV) estimate as of June 30, 2021.
  • Managements unaudited estimate of the range of our NAV per share of our common stock as of June 30, 2021 is between $13.74 and $13.84.
  • This estimate is not a comprehensive statement of our financial condition or results for the month ended June 30, 2021.
  • OFS Credit is a non-diversified, externally managed closed-end management investment company.

BrightSpire Capital Announces Closing of $800 Million Commercial Real Estate CLO

Retrieved on: 
Tuesday, July 20, 2021
Commercial Building & Real Estate, Construction & Property, Urban planning, REIT, Landscape, Interior design, Building Systems, Architecture, Other Construction & Property, Residential Building & Real Estate, Loans, Mortgage, Collateralized loan obligation, Real estate investment trust, Finance, United States housing bubble

BrightSpire Capital, Inc. (NYSE: BRSP) (“BrightSpire Capital” or the “Company”) today announced that the Company closed BRSP 2021-FL1, an $800 million managed Commercial Real Estate Collateralized Loan Obligation (the “CRE CLO”). The CRE CLO is collateralized by interests in 31 floating-rate mortgages secured by 41 properties, with an 83.75% initial advance rate at a weighted average coupon at issuance of L+149%, before transaction costs. The asset collateral is located across 11 states and primarily consists of multifamily properties, with the remainder collateralized by office and self-storage. The structure features a two-year reinvestment period.

Key Points: 
  • BrightSpire Capital, Inc. (NYSE: BRSP) (BrightSpire Capital or the Company) today announced that the Company closed BRSP 2021-FL1, an $800 million managed Commercial Real Estate Collateralized Loan Obligation (the CRE CLO).
  • The successful execution of our second managed CRE CLO and our first as an internally managed mortgage REIT is an important milestone for BrightSpire Capital, Inc.
  • We will continue to execute our business plan, which includes increasing exposure to senior mortgage loans, highlighted Andy Witt, Chief Operating Officer of BrightSpire Capital.
  • Matthew Heslin, Head of Debt Capital Markets at BrightSpire Capital, added, This transaction further diversifies our funding sources, while generating liquidity, reducing our cost of capital and providing additional non mark-to-market, match term financing.

LegalShield June Consumer Stress Index Increases as Consumer Protection Measures Approach Expiration Date

Retrieved on: 
Tuesday, July 20, 2021
Finance, Other Consumer, Consumer, Professional services, Legal, Finance, Money, Economy, Credit, Loans, Ada, Oklahoma, Criminal law, LegalShield, Payday loan

LegalShield, the company that protects and empowers people with tools and services needed to affordably live a just and secure life, today released its June Economic Stress Index, a suite of leading indicators of the economic and financial status of U.S. households and small businesses. The LegalShield Consumer Stress Index, one of five sub-indices, rose in June for the second consecutive month, with the index’s consumer finance component reaching its highest point since June of last year. LegalShield plan members sought assistance with credit reports and repair, vehicle financing, payday loans/title loans, and billing disputes causing The LegalShield Consumer Stress Index to increase (worsen) 1.7 points in June to 61.5.

Key Points: 
  • The LegalShield Consumer Stress Index, one of five sub-indices, rose in June for the second consecutive month, with the indexs consumer finance component reaching its highest point since June of last year.
  • LegalShield plan members sought assistance with credit reports and repair, vehicle financing, payday loans/title loans, and billing disputes causing The LegalShield Consumer Stress Index to increase (worsen) 1.7 points in June to 61.5.
  • View the full release here: https://www.businesswire.com/news/home/20210720006036/en/
    The LegalShield Consumer Stress Index (Graphic: Business Wire)
    While stimulus payments, federal protections, and forbearance programs have kept consumer stress muted throughout the pandemic, financial strain appears to be increasing as government interventions are being phased out, said LegalShield CEO Jeff Bell.
  • Despite the rise in Consumer Stress, LegalShields Bankruptcy Index remains at its second-lowest reading on record.

People Believe Online Lenders are Less Discriminatory Against Applicants Due to Race or Ethnicity, According to New Survey Data

Retrieved on: 
Tuesday, July 20, 2021
Money, Finance, Economy, Credit, Loans, Mortgage industry of the United States, Discrimination, Urban politics in the United States, Payday loan

ARLINGTON, Va., July 20, 2021 /PRNewswire/ -- According to new data from a survey conducted by Morning Consult on behalf of the Online Lenders Alliance (OLA), black and Hispanic adults are significantly less confident than other adults in their ability to get credit from traditional financial institutions. As a result, many hesitate to even apply for credit. However, these same consumers believe that online lenders are less discriminatory against applicants due to race or ethnicity than other lenders.

Key Points: 
  • However, these same consumers believe that online lenders are less discriminatory against applicants due to race or ethnicity than other lenders.
  • "According to this new survey data, less than half of black and Hispanic adults feel confident in their ability to get any credit they needed in 2021," said Andrew Duke, Executive Director of the Online Lenders Alliance.
  • "Online loans are not only an essential option for millions of consumers, they believe they face less discrimination with online lenders than with other lenders.," Duke continued.
  • All adults (but particularly African Americans) felt that online lenders were less discriminatory against applicants.

Saratoga Investment Corp. Announces Closing of Public Offering of Additional $125 Million 4.375% Notes Due 2026 with a Yield-to-Maturity of Approximately 4.1%

Retrieved on: 
Tuesday, July 20, 2021
Loans, Collateralized loan obligation, Mortgage

Purchasers paid accrued and unpaid interest on the Notes from March 10, 2021 up to, but not including, the date of delivery of the Notes.

Key Points: 
  • Purchasers paid accrued and unpaid interest on the Notes from March 10, 2021 up to, but not including, the date of delivery of the Notes.
  • Following the issuance of the Note, the outstanding aggregate principal amount of the Companys 4.375% notes due 2026 is $175 million.
  • Investors are advised to consider carefully the investment objective, risks and charges and expenses of the Company before investing.
  • Saratoga Investment Corp. owns two SBIC-licensed subsidiaries and manages a $650 million collateralized loan obligation (the Saratoga CLO) fund.

Tech Capital, LLC Partners With Multiplier Capital on $30 Million Term Loan

Money, Finance, Economy, Loans, Corporate finance, Banking, Asset-based lending

SAN JOSE,Calif., July 20, 2021 (GLOBE NEWSWIRE) -- Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today that it is participating in a $30 million term loan originated and led by Multiplier Capital.

Key Points: 
  • SAN JOSE,Calif., July 20, 2021 (GLOBE NEWSWIRE) -- Tech Capital, LLC, the asset-based finance company and wholly owned subsidiary of Tech CU, announced today that it is participating in a $30 million term loan originated and led by Multiplier Capital.
  • This loan will serve the growth capital needs of one of Multiplier Capitals portfolio companies a venture-backed, growth stage, e-commerce company.
  • They also have a lending strategy that complements Tech Capitals asset-based lending approach making them an ideal partner, said Joe Anzalone, Managing Director of Tech Capital, LLC.
  • Tech Capital has a reputation for excellence in the asset-based lending world, said Ray Boone, General Partner and Co-Founder of Multiplier Capital.

Gantry Completes $2.1 Billion of Commercial Mortgages in First Half 2021

Retrieved on: 
Tuesday, July 20, 2021
Banking, Commercial Building & Real Estate, Construction & Property, Professional services, Mortgage, Money, Finance, Banking, Economy, Loans, Commercial mortgage, Corporate finance, Mortgage loan, Subprime mortgage crisis, Super jumbo mortgage

Gantry, the largest independent commercial mortgage banking firm in the U.S., has completed in excess of $2.1 billion of new commercial placements during the first half of 2021.

Key Points: 
  • Gantry, the largest independent commercial mortgage banking firm in the U.S., has completed in excess of $2.1 billion of new commercial placements during the first half of 2021.
  • This total reflects a highly favorable lending environment for borrowers across the spectrum of commercial real estate asset classes.
  • This has motivated a broad spectrum of lenders to prioritize commercial mortgage allocations, said Michael Heagerty, CFO and Principal with Gantry.
  • The resulting climate has provided the vast majority of commercial real estate owners with a variety of attractive financing options to refinance or acquire properties.

Mortgage365 Rebrands its Direct-to-Consumer Mortgage Lending Subsidiary to Finify

Retrieved on: 
Tuesday, July 20, 2021
Loans, Mortgage loan, Financial services, Prospect Mortgage

HIGHLANDS RANCH, Colo., July 20, 2021 (GLOBE NEWSWIRE) -- Mortgage365 is pleased to announce that is has rebranded its Direct-To-Consumer (D2C) mortgage lending subsidiary, changing the name of the business to Finify ( www.finify.com ).

Key Points: 
  • HIGHLANDS RANCH, Colo., July 20, 2021 (GLOBE NEWSWIRE) -- Mortgage365 is pleased to announce that is has rebranded its Direct-To-Consumer (D2C) mortgage lending subsidiary, changing the name of the business to Finify ( www.finify.com ).
  • This change will distinguish the Mortgage365 enterprise Software as a Service (SaaS) platform for financial services companies from the consumer mortgage lending business.
  • The Mortgage365 enterprise SaaS mortgage platform unifies data, borrowers, and lending teams to deliver a digital-first mortgage experience.
  • Mortgage loans offered by Finify are originated by Mortgage365 Lending, LLC (NMLS #1990091) dba Finify.