J.P. Morgan Chase & Co. has agreed to acquire nearly $1 billion worth of personal loans arranged by LendingClub Corp., according to people familiar with the deal. The portfolio, worth just over $900 million and comprising loans made to consumers with an average FICO score of about 700, was sold for a premium to the outstanding balance on the loans, one of the people said. The...
According to WSJ last night , J.P. Morgan Chase & Co. has agreed to acquire nearly $1bn in personal loans arranged by WSJ . The portfolio, worth nearly $1bn , is comprised of loans to consumers with high credit ratings and was sold for a premium to the outstanding balance on the loans. The J.P. Morgan Chase & Co. report suggests that the sale is being closely watched by credit markets as an indicator of the health of the market for online personal loans.