Freedom Financial Network Announces Close of $324M Securitization of FreedomPlus Personal Loans
Summary
The deal is the 13th securitization by Freedom Consumer Credit Fund (FCCF), an investment fund managed by Freedom Financial Asset Management (FFAM).Underwriting for the FreedomPlus loan program is based on proprietary algorithms that evaluate behavioral, transactional, employment and income data, as well as a manual review of borrowers creditworthiness. "We are pleased to continue our strategy of regular, programmatic securitizations, particularly given the considerable shifts underway in the capital markets and economy overall. Since its founding in 2008, Cross River has developed strategic partnerships with leading technology companies, marketplace lenders and payment providers, while maintaining a strong focus on regulatory compliance and consumer protection. Cross River provides a highly secure, API-based banking platform and comprehensive suite of products encompassing lending, payments, risk management and Banking-as-a-Service (BaaS) offerings to deliver responsible financial solutions that empower businesses and consumers anytime, anywhere. For more information, please visit Cross Rivers website at or Twitter .\xae ("Meta") (Nasdaq: CASH) is a South Dakota-based financial holding company.
Funding
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