BBVA USA, the U.S. subsidiary of Madrid-based BBVA, today announced it is offering a digital Home Equity Line of Credit (HELOC) through its website, powered by Prosper, a leading online marketplace for consumer loans. Prosper’s digital HELOC platform, which was developed to simplify the process of applying for and obtaining a HELOC, is now available to BBVA USA customers in select states via the BBVA-branded version of the platform.
As we begin the fourth quarter of what has been an unprecedented and challenging year, we would like to provide our investor community an update on the performance of the Prosper portfolio, as well as our view of the overall macro environment.
Since the last investor update in April, the overall macro-economic environment has shown signs of improvement, while at the same time, a recent resurgence in COVID-19 cases and subsequent shutdowns by several states pose a risk to the ongoing recovery. At Prosper, we remain disciplined and cautious with respect to the current environment and we continue to take actions on both the current servicing book as well as new originations to help actively manage investor returns.
One of the pandemic’s most maddening features is its lack of predictability. And, while the Prosper team can’t know the future, we can promise you this: We will continue to serve our borrowers by working with them to manage the challenges they’re sure to face in the coming weeks.
Nearly 15 years ago, Prosper launched as the first peer-to-peer lending platform in the U.S. As of today, more than 1 million people have gotten a personal loan through Prosper!
Leading Marketplace Lending Platform and Top 25 U.S. Bank Bring Together Strengths in Fintech and Digital Banking to Dramatically Improve the Home Equity Line of Credit (HELOC) Experience for Homeowners HELOC Platform Now Available to Customers in Alabama, Arizona, Florida and Texas via Prosper’s website and available soon to a select group of BBVA USA […]