An Internet Mortgage Provider Reaps the Rewards of Lending Boldly
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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.
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.