SoFi Reports Defaults in Bond Portfolio

According to Bloomberg, defaults have triggered a breach in a 2015 SoFi bond deal; Bloomberg provides some details on the breach, reporting that the SoFi loans backing the bonds averaged more than $35,000, were unsecured and were from prime credit borrowers with annual salaries averaging around $130,000; the SoFi breach adds to worries about rising defaults overall which have been a factor for bond deals and troubled lenders in the marketplace lending industry.  Source

Sign up for our Newsletters

Every morning the Fintech Nexus News team scours the globe for the most important fintech stories of the day in the daily Global newsletter.

The Europe edition comes out on Monday, Wednesday, and Friday featuring the most important stories in European and UK fintech.

The Latin American newsletter arrives in your inbox on Tuesdays and Fridays. This is a trilingual newsletter featuring stories in Spanish, Portuguese, and English.

Join 20,000 subscribers!