Tag Archives: Lender

Exemption From California Lender Licensing Law for Single Loan About to Expire | Manatt, Phelps & Phillips, LLP

An exemption from the California lender licensing law for a person making a single commercial-purpose loan in a rolling 12-month period is about to “sunset” in California, impacting persons who have relied upon the exemption, including when structuring transactions through special-purpose vehicles (SPVs). What Happened As lenders likely are aware, California has a sweeping lender… Read More »

Fintech Lender Upstart Says It Won’t Keep Excess Loans on Balance Sheet

Fintech lender Upstart Holdings Inc. will no longer park loans on its balance sheet that financial institutions aren’t interested in buying after its decision to hold on to such loans earlier this year surprised investors, its finance chief said. San Mateo, Calif.-based Upstart offers personal loans based on a machine-learning-powered credit-scoring model that it says… Read More »