SoFi Blog

The holiday season can be a frenetic one as you juggle your normally busy work schedule with the added stress of shopping, social engagements and travel. But it’s also an important time of year to think about your finances. Not only is this a chance to get your financial house in order for 2015, but it also allows you to take advantage of certain money-saving measures that must be implemented before Jan. 1.

Here are 5 financial moves to consider between now and ringing in the New Year:

Do you ever wonder if potential employers are Googling you before they even invite you in for a job interview? Well, wonder no more – because in most cases, the answer is yes.

Employers will often do online due diligence before making contact with a candidate. With the amount of info that’s publicly available online today, they can use the web to do everything from vetting credentials to identifying potential risks related to faulty hires.

San Francisco, CA – November 10, 2014 — Social Finance, LLC (SoFi), a leader in marketplace lending, today announced it has closed a $303 million+ securitization of refinanced student loans for graduate borrowers. The senior notes were rated “A” by S&P, “A2” by Moody’s, and “AA (low)“ by DBRS.  This is the second S&P-rated securitization that SoFi has completed in the past four months, and its third securitization since December 2013. SoFi is the first and only marketplace lender to secure investment grade ratings from S&P and Moody’s for senior notes in a securitization.

“After only three years in the market, we have expanded our product line beyond student lending to offer mortgages and mortgage refinancing,” said SoFi’s Chief Financial Officer, Nino Fanlo. “This rating allows us to continue to invest in our community of borrowers and finance other types of lending such as personal loans.”

Morgan Stanley and Goldman Sachs led the transaction.  Morgan Stanley served as the structuring agent, and Goldman Sachs, Barclays, and Deutsche Bank distributed the senior notes. The $303 million November 2014 transaction was backed by $336 million in collateral. In December 2013, SoFi issued the first securitization in the category with $151 million in senior notes backed by $168 million in collateral. In the July 2014 securitization, SoFi issued $251 million in senior notes backed by $278 million in collateral. All rounds included retail and institutional investors.

In October, the company surpassed $1 billion in funded loans and extended its product line to offer low down payment mortgages and mortgage refinancing to qualified borrowers in California, New Jersey, North Carolina, Pennsylvania, Texas, Washington D.C., and Washington state with plans to expand to additional states soon.

About SoFi 

SoFi is a leader in marketplace lending and the largest provider of student loan refinancing, with over $1.1 billion in loans issued.  SoFi helps ambitious professionals accelerate their success with student loan refinancing, MBA loans, mortgages, and personal loans. Its nontraditional underwriting approach takes into account merit and employment history among other factors to provide unique financial and investment products. For more information, visit SoFi.com.

It’s a common story: your friend or family member has “a million dollar idea,” but doesn’t have the money or wherewithal to back it. Then another person comes along and invents it, getting all the money and notoriety that comes along with it. While it was nothing more than an idea in your Aunt Debbie’s head, she still takes it personally whenever she hears about it on the news. Who knew that a social network for dogs would take off?