LendingPoint Announces Two Securitizations Totaling over $240 Million

LendingPoint has closed two securitizations, one composed of direct to consumer loans and the other of point of sale loans; according to the press release, “LendingPoint Receivables Trust 2020-1 (“LDPT 2020-1”) issued $200 million of rated notes backed by a pool of $210.5 million of direct-to-consumer loans originated on the LendingPoint platform. LPMS 2020-1, an unrated securitization backed by point-of-sale loans, issued $45.8 million of notes with a weighted average yield of 4.910%”; Kroll Bond Rating Agency assigned preliminary ratings to four classes of the direct-to-consumer loans; the press release shares more details on the transactions. Yahoo Finance

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