An Internet Mortgage Provider Reaps the Rewards of Lending Boldly

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The bank was the subject of an August 22, 2015 New York Times article entitled "An Internet mortgage provider reaps the Rewards of Lending Boldly" . The Times article reports that the bank has enjoyed great business success and rapid growth in recent years by "issuing big mortgages to high earners whom other lenders might not necessarily welcome with open arms."

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Bank of Internet’s loans have increased fivefold, to nearly $5 billion, over the last five years — an almost unheard-of rate of growth for these tepid times in banking. Its losses from bad loans are practically nonexistent, and profits are surging, in part because it charges a much higher interest rate than the bigger banks operating in the same market.

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Latest Articles. An Internet Mortgage Provider Reaps the Rewards of Lending Boldly Bank of Internet USA, which has extended big loans to high-earning people other lenders might shun, has been making profits, and setting off alarm bells.

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