With LEVERAGE’s partnership with LendKey, the leading lending-as-a-service provider to more than 285 financial institutions, credit unions have easier access to prime consumer loan participations. Focused on the $300 billion home improvement market, credit unions can gain access to loans made to prime homeowner borrowers and benefit from multiple tactics to further mitigate risk.

LendKey’s unique solution allows lenders access to participation loans on a recurring basis, which minimizes on-going diligence and maximizes access to new loan volume. Lenders benefit from fractional ownership in loans, which broadens their portfolio and enhances risk mitigation. LendKey also manages the entire life of the loan process, as well as the marketing and lead generation efforts, allowing credit unions to focus on serving their membership.

To-date, the program has helped credit union and bank partners disburse more than $1.7 billion to prime borrowers.

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Program Benefits

  • Easy access to purchase loan participations from prime borrowers
  • Deploy capital effectively
  • Simple and effective
  • Proven performance
  • Nationwide loan sourcing creates geographic diversity and risk mitigation
  • Credit default insurance available
  • Prime homeowner borrowers
  • Managed network of contractors

Program Success

  • $300 billion market opportunity
  • Nearly $1 billion in participated loans facilitated for credit unions
  • Average net yield of 6.00%
  • Weighted average credit score is 751
  • Participation interests of 10% at loan level mitigates risk