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LendingClub Reaches $1bn in CLUB Certificate Issuance

In less than a year the online lender reaches $1bn in their unique CLUB Certificate program.

November 21, 2018 By Todd Anderson 1 Comment

Views: 893

LendingClub has seen issuance of their new CLUB Certificate reach $1bn in less than a year after first announcing the pass-through security product last December at their investor day. The CLUB Certificate was created to make it easier for institutions to invest in LendingClub originated loans.

“We continue to innovate for investors and diversify our investor base,” said Valerie Kay, Chief Capital Officer of LendingClub in a press release. “By continually innovating on products, LendingClub expects to further deepen and broaden investor access in 2019 and beyond through a variety of new products and structures.”

At LendIt Fintech Europe 2018 Kay went on to tell Crowdfund Insider that the online lender essentially created their own ABS program and they’ve been able to grow the CLUB Certificate product to $1bn without the help of any big banks.

“Our Club Certificates are a result of direct conversations we had with buyers of our securitization deals. We listened to their feedback and delivered a structure that suits their specific needs. The result is incredible demand for the product from some of the top names in asset management.”

CLUB Certificates are traded over the counter with a CUSIP and cleared by DTCC. CLUB Certificates can be seen on dv01, Bloomberg and Intex with the “CLUBC” ticker.

Filed Under: Peer to Peer Lending Tagged With: ABS transactions, Bloomberg, CLUB Certificate, Crowdfund Insider, dv01, Intex, lendingclub

Views: 893

Trackbacks

  1. Securitization in Marketplace Lending Slowed in Q4 2018 - Lend Academy says:
    January 15, 2019 at 6:29 pm

    […] lending space round out the top 10 list. We should also point out that LendingClub sold more than $1 billion in CLUB certficates in 2018 which likely reduced their securitization volume in […]

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LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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