During the week I share the latest p2p lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.
My crazy travel month continues – after being in London last week, this week I am in Beijing to speak at a conference here. The Chinese p2p lending market is flourishing and leading the world in many ways. But being inside China means no Twitter, no Facebook, even no Google. I haven’t seen any Google alerts since Wednesday so below are the main news items for the first half of the week. I will catch up on anything I missed next week.
On Deck Capital IPO, An Insider’s Perspective from Merchant Processing Resource – An in-depth and thoughtful article about OnDeck, the small business lender, who announced they intend to do an IPO soon.
Who Will Be The next Lending Club? from Forbes – Ryan Caldbeck, the CEO and founder of crowdfunding platform CircleUp, gives five key attributes that the next Lending Club must have.
Upstart’s P2P Lending Platform Aims at Young Borrowers from Techonomy – Q&A with Dave Girouard, the CEO of Upstart, on how their platforms works.
The Fitch P2P Lending Report: 5 Things They Got Right and 3 Things They Got Wrong from Peer Lending Advice – A critique of the recent report on p2p lending by Fitch Ratings.
Discussing the Small Business Lending Evolution from Orchard – Really interesting look at small business loans (with charts) over the past two decades and why we need online lenders to fill the gap.
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SoFi has been somewhat of a quiet achiever in the p2p lending industry. But they have been breaking a lot of new ground over the past few months. In this edition of the Lend Academy Podcast I talk with Mike Cagney, the co-founder and CEO of SoFi. I came away from this interview so impressed with what SoFi is doing. They are executing incredibly well and have many new tricks up their sleeve.
In this episode you will learn:
- Why Cagney decided to tackle the student loan problem.
- How the student loan business is almost like a Trojan horse for SoFi.
- An explanation of the HENRY market.
- Why SoFi decided to go down the securitization route with their loans.
- How DBRS, who rated the first SoFi securitization, got comfortable with SoFi’s loan book.
- Why the Standard & Poors rating of the second securitization was important for the entire industry.
- How SoFi has never had a default or even a 90-day delinquency in their history of lending to 10,000 borrowers.
- How retail accredited investors can invest in SoFi today.
- The unique way that SoFi is attacking the home mortgage space.
- Where SoFi is focusing with the real estate business.
- The game changer that SoFi is trying to put in place for home mortgages.
- How SoFi is entering the unsecured consumer loans space.
- When and how they are moving into a lending marketplace.
- Their amazing loan volume projections for 2015.
- The vision Cagney has for SoFi going forward.
Download the transcription of LAP22: Interview with Mike Cagney of SoFi.
You can subscribe to the Lend Academy Podcast via iTunes or Stitcher. To listen to this podcast episode there is an audio player directly below or you can download the MP3 file here.
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