PGIM commits to about $3bn of GreenSky home improvement loans over three years
The forward-flow facility buys future prime consumer loans as banks retreat from asset-backed lending.
PGIM, the asset management business of Prudential Financial, has committed to a three-year forward-flow facility with GreenSky and certain affiliates, announced on 20 August from Newark, New Jersey.
The facility covers consumer home improvement assets, with a forecast total purchase volume of about $3bn over the three years, against the $1.5tn PGIM manages.
Under a forward-flow agreement PGIM buys loans…
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