Marketplace Lending News Roundup – April 1

News

During the week I share the latest marketplace 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.

Online lender Elevate is heading for an IPO from Business Insider – After pulling their IPO a year ago Elevate is looking to go to the public markets in 2017.

CreditEase Wealth Management’s Fund Invests $30 Million in Two Transactions With OnDeck & LendingHome from Crowdfund Insider – CreditEase’s fund has made investments in OnDeck and LendingHome.

Honeymoon’s Over for Peer-to-Peer Lending from Bloomberg – The wedding lending platform Promise Financial is pivoting and is now called DigiFi, providing tech to banks.

Weekly Industry Update: Marlette Funding Trust 2017-1 (MFT 2017-1) from PeerIQ – The weekly PeerIQ newsletter analyzes the latest Marlette Funding securitization.

How states can still outmatch OCC over fintech from American Banker – Interesting look at the OCC Charter and the impact and potential response from state regulators.

Tech will lead to new sub-prime crunch from TechCrunch – While this author is mistaken on what exactly is subprime his point is well taken. Low income Americans are struggling.

Financial Inclusion, Regulatory Protection, and My Recent Trip to China from Orchard – The CEO of Orchard gives his perspective on Asia and learnings from his recent trip.

Marketplace and P2P Lending: Viable or Not? from AltFi – Despite the growth of marketplace lending there are still few very large investors, particularly in Europe.

How To Build a $100 Billion Company from NewCo – Great interview with Mike Cagney of SoFi on how they are building the financial services company of the future today.

Clarity Trends Report Presents the Evolution of the Subprime Market from Clarity Services Inc – Want to understand the state of the subprime consumer? Clarity Services has a new report out on the latest trends.

PeerStreet Integrates with Wealthfront via Quovo to Provide Improved Access and Transparency from Yahoo Finance – I think we will see many more integrations like this. PeerStreet now integrates with Wealthfront (press release).

Androscoggin Bank launches online business-lending tool from Mainebiz – A community bank in Maine has launched an online business lending platform partnering with an unnamed fintech firm.

The Strategic Case For a Kabbage/On Deck Deal from S&P Global Market Intelligence – It may be an unlikely combo but here is a look at how an OnDeck/Kabbage deal could work.

Why we’re building a bank from Zopa – The CEO of Zopa gives us an update on why they are building a bank.

Landbay cuts rates and fees in quest for new borrowers from Peer2Peer Finance News – Also in the UK Landbay have cut their already low rates to try attract more borrowers.

Update in the Argon Credit Bankruptcy Case from deBanked – The Argon bankruptcy case has changed from Chapter 11 to Chapter 7 as assets are liquidated.

Global Debt Registry Partners With TransUnion For Platform Expansion from Finalternatives – Global Debt Registry signs another partnership this one with TransUnion to help validate credit data.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

How much emphasis to put on FICO Scores? – Forum members weigh in on how relevant borrower’s FICO scores are.

The identity fraud repayment promise – An investor contacts Lending Club to find out what loans they purchased that were a result of identity fraud or theft.

Trying to make sense of Foliofn discounts/markups – A new investor tries to make sense of the secondary market.

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