Happen Bank tops $10 billion in personal loans sold via HAPS and LENDR programs
HAPN•Happen Bank, a unit of Happen Inc., has sold more than $10 billion in personal loans through its HAPS and LENDR structured loan certificate programs. The milestone reflects sustained investor demand, the company said.
1. Loan sale milestone
Happen Bank has sold more than $10 billion in personal loans through HAPS and LENDR. HAPS is a two-tranche private securitization in which the bank retains the senior note and sells the residual certificate at a preset price. LENDR has multiple note tranches with Fitch ratings and targets investment-grade investors.
