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By December 2023, the company reportedly had a 9.5% market share in "unsecured lending within a specific credit box" and a 0.1% share in the home loan market in the U.S. [68] In April 2024, a CNN study recognized SoFi as the "best student loan refinance lender". The study highlighted SoFi's competitive rates, flexible terms, and various perks.
Data source: SoFi quarterly reports. Lending is still responsible for the lion's share of the total gross profits, which is why the market is paying more attention to it than it is to management's ...
Lending and the expanding platform. SoFi's roots are in student lending, but it's taken a number of actions over the past few years to expand its platform and offer a full slew of financial ...
SoFi Technologies (NASDAQ: SOFI) is having a good few months. In recent weeks, the online bank and lending platform has added a new loan partner, recently reported strong third-quarter earnings ...
Shares of SoFi Technologies (NASDAQ: SOFI) jumped as much as 10.5% in early trading Monday after the company announced a $2 billion personal-loan financing deal. The stock pulled back slightly but ...
The lending and financial services platform has graduated from a hyped-up, overvalued, and unprofitable business to a solid, proven, and a profitable one. ... SoFi stock might easily appear ...
SoFi began in 2011 as a student-focused lender but has since expanded to offer personal loans and other banking services. LendingClub was founded in 2006 as a peer-to-peer lending platform.
Some concerns linger about SoFi's lending business. In the second quarter, net charge-offs on its $16 billion personal loan portfolio ticked up to 3.84%, from 2.94% one year ago.
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