June 25, 2021 8:46 PM
Under the administrative settlement order, the auto loan originator, securitizer and service personnel agreed to pay more than $ 6.5 million to resolve the SEC’s allegations of misleading investors about past loan disbursements.
Gateway One Lending & Finance LLC will transfer more than $ 4.9 million in forfeit and interest and an additional $ 1.6 million in civil fine settled by the Securities and Exchange Commission. said… The company neither acknowledged nor denied the findings in court.
The Securities and Exchange Commission ruling states that Gateway has raised more than $ 2 billion from investors by “securitizing stakes in pools of auto loans it has issued.” Investors …