LoanStreet
LoanStreet, founded in 2013, is a comprehensive loan sharing platform utilized by over 1,300 financial institutions, including credit unions, banks, and alternative lenders, offering a range of services from trading to loan servicing.
Company History
LoanStreet was founded in 2013 with the aim of revolutionizing the loan sharing industry. Since its inception, the company has developed a comprehensive platform that is used by over 1,300 credit unions, banks, and alternative lenders. Over the years, LoanStreet has expanded its services to include a robust marketplace for buying and selling loan participations, as well as advanced analytics and loan servicing solutions.
Services
LoanStreet offers a wide range of services aimed at supporting financial institutions in the loan trading and management process. The platform enables trading, analyzing, servicing, and reporting on loans, making it a one-stop solution for many financial entities. Key services include a marketplace for loan participations, analytics for portfolio performance, and automated loan servicing with consolidated monthly reporting. The platform supports various loan types, including consumer unsecured, residential mortgage, commercial real estate, auto, solar/environmental, and home improvement loans.
Products
LoanStreet provides a variety of products designed to facilitate loan trading and management. Their offerings include a loan participation marketplace where institutions can buy and sell loans efficiently. Additionally, LoanStreet's analytics services help institutions understand and optimize portfolio performance. Their loan servicing solutions offer automated, consolidated monthly reporting, which simplifies the loan management process. The company also provides a standardized master agreement aimed at facilitating quick deal closings.
Client Base
LoanStreet serves a diverse range of financial institutions, from smaller entities with assets under $400,000 to large organizations with over $25 billion in assets. The platform's flexibility allows institutions of all sizes to utilize its features effectively. The company’s client base includes over 1,300 credit unions, banks, and alternative lenders. Registration on the platform is free and comes with no obligation, making it accessible to a wide variety of financial entities.
Loan Types Supported
The LoanStreet platform supports a diverse array of loan types. These include consumer unsecured loans, residential mortgage loans, commercial real estate loans, auto loans, solar/environmental loans, and home improvement loans. Such diversity allows financial institutions to manage different kinds of loans seamlessly via a single platform, given the diverse range of services and features LoanStreet offers.