Content area
Full Text
The fintech company that was the biggest technology IPO on the Australian Securities Exchange last year expects offering home loans to American millennials will become the biggest part of its business in the future after launching its mortgage refinancing marketplace in the US.
In recent weeks, the Credible Labs home-lending platform went live across 20 US states that represent two-thirds of mortgage originations in America, and Credible now has six lending partners, four of which are among the top 10 lenders in the US.
The San Francisco-based Credible Labs, founded by entrepreneur Stephen Dash in 2012, made its name in the higher education sector by matching students with loan providers in an online environment.
But over the past year, Credible has moved into the fragmented US mortgage market, a sector that has not been heavily penetrated by non-bank lenders and fintechs.
The American mortgage market is estimated to be about 80 times larger than the student...