The adoption of Buy Now, Pay Later (BNPL) loans by US consumers has been on the rise in the United States. In the latest Lending Tree BNPL tracker, nearly half of Americans had used one at least once, 11% six times or more. These installment loans to make purchases are especially popular among younger Americans,
A long-standing federal student loan program that has opened the door to higher education for millions of low- and middle-income families—but has also been criticized for driving families deep into debt—is at risk as Congress considers sweeping changes to higher education policy. Both House and Senate Republicans want to cap how much parents can borrow
[HONG KONG] A Hong Kong property dynasty that became one of the city’s most prolific collectors is discovering the limits of the burgeoning world of art-backed lending. The family behind Parkview Group, which narrowly avoided a default in March, sought a loan earlier this year from international auction house Sotheby’s, sources familiar with the matter
WILKES-BARRE — The city of Wilkes-Barre will receive a no-interest loan of $500,000 from Luzerne County for sewer repairs. Wilkes-Barre’s “sewer system is in dire need of repairs,” according to a resolution unanimously approved Tuesday night by county council. “We stand at a critical juncture where the health and safety of our community in Luzerne
FICO announced on Monday that it is going to start incorporating buy now, pay later (BNPL) data into credit scores. The news comes as the payment method surges in popularity, with over 91 million Americans expected to use BNPL for purchases this year. Buy now, pay later data incorporated into credit scores The FICO Score 10
Amid an ongoing housing crunch, online lender Rocket Mortgage has started offering bridge loans, a form of short-term financing that enables borrowers to buy their new home before they’ve sold their current one. Also known as gap loans and interim financing, bridge loans are most often used by homebuyers to help with down payments and
FICO announced this week that buy-now-pay-later loans will now be included on credit reports and credit scores. The new credit scores will be “offered side-by-side with existing versions of the FICO Score,” FICO said. FICO said its new credit score methodology comes after a yearlong study “confirmed that a unique consumer behavior associated with BNPL
Traditional lending standards no longer fit a growing segment of borrowers in the modern mortgage market. These individuals may be self-employed, gig-style workers, real estate investors, or Gen Z freelancers. Non-qualified mortgage (non-QM) loan options, such as those offered by Deephaven Mortgage, fill the gap with flexible underwriting methods, a debt service coverage ratio (DSCR),
Close-up of JP Morgan Chase and Co sign outside an office building in the SoMa neighborhood, San … More Francisco, California, March 18, 2025. (Photo by Smith Collection/Gado/Getty Images) Gado via Getty Images Small business loans Small businesses require financing, often using equity or debt. Financing decisions can significantly influence business outcomes. High-interest or unstructured
Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. Canada’s state-backed export agency has lost about £350mn on loans to Thames Water, the crisis-stricken UK utility that is teetering on the verge of renationalisation. Export Development Canada, which was established to help Canadian companies