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Approximately 72.2% of the company’s loans are secured by properties in California, 9.47% are secured by properties in New York, and 5.11% are secured by properties in Florida.
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– Plaintiffs claim that Defendants made false or misleading 17 statements on two subjects – the company’s loans to criminals and governmental 18 investigations into BofI. 19 2. 20 On August 22, 2015, the New York Times ran a pre-Class Period article about BofI 21 entitled, "An Internet Mortgage Provider Reaps the Rewards of Lending Boldly."
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22, 2015 about BofI entitled "An Internet Mortgage Provider Reaps the Rewards of Lending Boldly." The article raised a number of issues about BofI, including Case 3:17-cv-00667-gpc-ksc document 27 filed 02/20/18 PageID.629 Page 3 of 71
Axos Financial is a financial holding company, a diversified financial services company with over $11.2 billion in assets that provides banking and securities products and services to its customers through its online and low-cost distribution channels and affinity partners. Based in San Diego, California, Axos Financial is the parent of Axos Bank, a direct bank.
To rein in the ballooning costs of HECs loans, the Government is looking at wiping them out in the vocational training sector; making university entry harder; and clawing back the loans at a faster.
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.
An Internet Mortgage Provider Reaps the Rewards of Lending Boldly 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.