{
 "company": "earnest",
 "as_of": "2026-09-23",
 "choices": [
  {
   "id": "earnest-p01",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Underwriting inputs",
   "statement": "Earnest launched with a data-driven evaluation of applicants' financial profiles, including current and future earning potential, in place of reliance on credit scores alone.",
   "event_date": "2014-05-22",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA1"
   ]
  },
  {
   "id": "earnest-g01",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Target customer",
   "statement": "Earnest aimed its launch at recent college graduates and young professionals.",
   "event_date": "2014-05-22",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA1"
   ]
  },
  {
   "id": "earnest-p02",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Entry product",
   "statement": "The first product was an unsecured personal loan with one-, two- and three-year terms, an average size of about $10,000 and a $30,000 maximum.",
   "event_date": "2014-09-16",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA3"
   ]
  },
  {
   "id": "earnest-p03",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Individual rate setting",
   "statement": "Earnest began quoting individualized interest rates, typically 4.25% to 5.25% for qualified borrowers; Louis Beryl said rates should reflect what people deserve to pay rather than what they would be willing to pay.",
   "event_date": "2014-09-16",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "EA3"
   ]
  },
  {
   "id": "earnest-g02",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Geographic footprint",
   "statement": "Personal loans were available in 18 states and Washington, D.C., rather than nationally.",
   "event_date": "2014-09-16",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA3"
   ]
  },
  {
   "id": "earnest-p04",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Linked account data",
   "statement": "Applicants linked bank and credit-card accounts so Earnest could download transaction histories, and LinkedIn supplied employment and education details; the company described reviewing 80,000 to 100,000 data points per applicant.",
   "event_date": "2015-01-21",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA4"
   ]
  },
  {
   "id": "earnest-p05",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Student-loan refinancing launch",
   "statement": "Earnest added refinancing of federal and private, undergraduate and graduate student loans, with five- to 20-year terms.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA6"
   ]
  },
  {
   "id": "earnest-p06",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Repayment flexibility",
   "statement": "Refinancing borrowers could set an exact monthly payment or loan length, switch between fixed and variable rates without fees, skip one payment a year and split payments twice monthly.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA5"
   ]
  },
  {
   "id": "earnest-p07",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Servicing",
   "statement": "Earnest serviced its own loans instead of handing borrowers to a third-party servicer.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA6"
   ]
  },
  {
   "id": "earnest-p08",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Rate check",
   "statement": "A prospective borrower could check a rate in under two minutes through a soft credit inquiry.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA6"
   ]
  },
  {
   "id": "earnest-g03",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Bootcamp partnerships",
   "statement": "Earnest partnered with coding bootcamps including General Assembly, Tradecraft, Coding Dojo and Galvanize.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA7"
   ]
  },
  {
   "id": "earnest-g04",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Fee positioning",
   "statement": "Earnest marketed refinancing as 'radically flexible' with no origination, prepayment or hidden fees.",
   "event_date": "2015-01-27",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA5"
   ]
  },
  {
   "id": "earnest-p09",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Precision pricing use",
   "statement": "Earnest reported that more than 95% of customers used its precision-pricing feature to customize terms and payment schedules.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "EA8"
   ]
  },
  {
   "id": "earnest-p10",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Loan range",
   "statement": "Personal and refinance loans ranged from $2,000 to $500,000 with terms from one to 20 years.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA11"
   ]
  },
  {
   "id": "earnest-p11",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Mobile app plan",
   "statement": "Earnest announced a mobile app for loan management, due before the end of 2015.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA8"
   ]
  },
  {
   "id": "earnest-g05",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Referral incentive",
   "statement": "Earnest planned $200 referral bonuses alongside its mobile app.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA8"
   ]
  },
  {
   "id": "earnest-g06",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Capital raise",
   "statement": "Earnest raised $75 million of Series B equity led by Battery Ventures and arranged $200 million of lending capital from New York Life.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA9"
   ]
  },
  {
   "id": "earnest-g07",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Hiring for growth",
   "statement": "Earnest said it would hire 200 people across marketing, sales, engineering and design.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA9"
   ]
  },
  {
   "id": "earnest-g08",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Broad-bank ambition",
   "statement": "Beryl positioned Earnest as a future 'destination for all financially responsible people' and a 'modern bank for the next generation'.",
   "event_date": "2015-11-17",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "EA11"
   ]
  },
  {
   "id": "earnest-g09",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Securitization cadence",
   "statement": "Earnest completed four securitizations in 2016 totaling about $700 million and one in 2017.",
   "event_date": "2016",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA22"
   ]
  },
  {
   "id": "earnest-g17",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Inaugural securitization",
   "statement": "Earnest's first securitization, $112 million of refinance loans, carried a single-A rating on its senior notes from DBRS; Earnest added a $150 million Goldman Sachs warehouse line, bringing warehouse capacity to $350 million.",
   "event_date": "2016-02-11",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA45"
   ]
  },
  {
   "id": "earnest-p17",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Mobile app timing",
   "statement": "In March 2016 Earnest still had no mobile app; Beryl said one would launch that year, after the company had announced one for late 2015.",
   "event_date": "2016-03-11",
   "date_precision": "day",
   "evidence_kind": "participant_account",
   "sources": [
    "EA65"
   ]
  },
  {
   "id": "earnest-g18",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Second securitization",
   "statement": "Earnest's second deal, upsized to $225 million, again received single-A senior ratings, from DBRS and Kroll.",
   "event_date": "2016-05-16",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA46"
   ]
  },
  {
   "id": "earnest-g19",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Rating improvement and warehouse capacity",
   "statement": "Earnest's fourth 2016 deal, $174.7 million, received AA(low) from DBRS and A from S&P on its senior notes; the company reported more than $700 million securitized and $550 million of warehouse capacity.",
   "event_date": "2016-11-02",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA49"
   ]
  },
  {
   "id": "earnest-g10",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Embedded tax-filing channel",
   "statement": "TurboTax began showing about 5 million filers with student loans a personalized Earnest refinancing estimate after they consented to share data.",
   "event_date": "2017-01",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA12"
   ]
  },
  {
   "id": "earnest-g21",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Dual-track process",
   "statement": "Earnest hired Barclays to run a dual-track process, seeking $50 million of new equity while looking for a buyer, according to The Information.",
   "event_date": "2017-05",
   "date_precision": "month",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA64"
   ]
  },
  {
   "id": "earnest-g20",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Last independent securitization",
   "statement": "Earnest priced a $175 million securitization with an AA(high) DBRS senior rating, its fifth since February 2016, bringing its securitized total to more than $877 million.",
   "event_date": "2017-05-24",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA50"
   ]
  },
  {
   "id": "earnest-g11",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Sale of the company",
   "statement": "Earnest agreed to sell itself to Navient for $155 million in cash, keeping its brand and founders.",
   "event_date": "2017-10-04",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA13"
   ]
  },
  {
   "id": "earnest-g12",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Borrower base served",
   "statement": "Navient disclosed that 77% of Earnest borrowers held advanced degrees, with average income above $139,000, average FICO 776 and average age 32.",
   "event_date": "2017-10-04",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA13"
   ]
  },
  {
   "id": "earnest-g23",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Refinance originations 2018",
   "statement": "Navient originated $2.8 billion of refinance loans in 2018, the first full year after acquiring Earnest.",
   "event_date": "2018",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA57"
   ]
  },
  {
   "id": "earnest-g13",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Parent-sponsored funding",
   "statement": "Navient sponsored its first securitization of Earnest refinance loans, $529.4 million, larger than any single Earnest deal before the sale.",
   "event_date": "2018-02-08",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA22"
   ]
  },
  {
   "id": "earnest-g22",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Rating under the new sponsor",
   "statement": "S&P expected to rate the senior notes of Navient's first Earnest-loan securitization AAA, against the A it gave the senior notes of Earnest's May 2017 deal, with roughly similar collateral.",
   "event_date": "2018-02-22",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA22"
   ]
  },
  {
   "id": "earnest-g24",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Refinance originations 2019",
   "statement": "Navient originated nearly $5 billion of refinance loans for 72,000 people in 2019.",
   "event_date": "2019",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA59"
   ]
  },
  {
   "id": "earnest-p12",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "In-school private loans",
   "statement": "Under Navient, Earnest launched in-school private student loans with a nine-month grace period, an annual skip-a-payment option, no fees and a $25 fixed in-school payment option, after what CEO Susan Ehrlich described as 300 hours of user research.",
   "event_date": "2019-04-16",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA25"
   ]
  },
  {
   "id": "earnest-p13",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Personal-loan exit",
   "statement": "Earnest stopped accepting new personal-loan applications in 2020 while continuing to service existing loans.",
   "event_date": "2020",
   "date_precision": "year",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA35"
   ]
  },
  {
   "id": "earnest-g14",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Acquisition cost claim",
   "statement": "Navient CEO Jack Remondi said its refinance business acquired customers at about half the industry average cost.",
   "event_date": "2022-01",
   "date_precision": "month",
   "evidence_kind": "participant_account",
   "sources": [
    "EA27"
   ]
  },
  {
   "id": "earnest-g15",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Parent restructuring",
   "statement": "Navient decided to outsource loan servicing and review its business-processing division to cut about $400 million of annual expenses.",
   "event_date": "2024-01-30",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA28"
   ]
  },
  {
   "id": "earnest-p14",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Underwriting variables",
   "statement": "Under a settlement with the Massachusetts Attorney General, Earnest agreed to stop using a school-level Cohort Default Rate variable and an automatic denial rule tied to immigration status, and to adopt model-governance and fair-lending testing.",
   "event_date": "2025-07-10",
   "date_precision": "day",
   "evidence_kind": "documented_offer_or_action",
   "sources": [
    "EA32"
   ]
  },
  {
   "id": "earnest-p15",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Product line under Phase 2",
   "statement": "Navient planned a personal-loan pilot under Earnest for 2026, with full launch in 2027-2028, and moved in-school private loans to a non-Earnest Navient entity.",
   "event_date": "2025-11-19",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA29"
   ]
  },
  {
   "id": "earnest-g16",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "go_to_market",
   "dimension": "Phase 2 funding and growth plan",
   "statement": "Navient made Earnest its growth business, funding originations through securitizations and a loan-sales platform and planning to offer wealth products to refinance customers.",
   "event_date": "2025-11-19",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA29"
   ]
  },
  {
   "id": "earnest-p16",
   "business": "Online consumer lending to young US professionals: personal loans, then student-loan refinancing and private student loans",
   "category": "product",
   "dimension": "Current refinance offer",
   "statement": "Earnest's refinance offer included tailored monthly payments, bi-weekly payments, skip-a-payment, Precision Pricing and in-house customer service.",
   "event_date": "2026-09-23",
   "date_precision": "day",
   "evidence_kind": "company_described_offering",
   "sources": [
    "EA36"
   ]
  }
 ]
}