Marketplace Lending News Roundup – August 13, 2016

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.

Jefferies closes Lending Club bonds sale from Financial Times – The long awaited Jefferies securitization of Lending Club loans has closed.

Weekly Industry Update: August 7, 2016 from PeerIQ – The PeerIQ newsletter digs into the ABS-15G Dodd-Frank rule as applied to marketplace lending securitizations.

Online Lenders Have a Tough Job Ahead from The Wall Street Journal – Some thoughts ahead of the earnings reports from Lending Club and OnDeck.

David Snitkof of Orchard Shares Unique Insight into Online Lending Market Dynamics from Crowdfund Insider – Interesting interview with David Snitkof of Orchard on the state of marketplace lending.

LendingClub’s Quarterly Loss Widens; CFO Dolan Steps Down from Bloomberg – More on the Lending Club Q2 results and earnings call from Noah Buhayar of Bloomberg.

VPC Speciality Lending fund shifts strategy to greater balance sheet exposure after difficult Q2 from AltFi – The UK Victory Park fund did not have a good Q2 and they are tweaking their investment strategy.

FSCS protection would be spark that ignites crowdfunding and p2p lending growth – and finally levels playing field with banks from AltFi – In the UK should p2p lending be part of the FSCS scheme (similar to FDIC insurance)? Unlikely to happen I think.

Prosper Performance Update: July 2016 from Prosper – Prosper have released their latest performance update showing strong results in 2016.

UK regulator responds to government questions on P2P regulations from Business Insider – Discussing risks in UK p2p lending and the FCA response – a report from BI Intelligence

Centre for Economics and Business Research: Small Business Loans on Funding Circle Boosts UK Economy By £2.7 Billion Since 2010 from Crowdfund Insider – A new report released about FundingCircle and their economic impact on the UK economy.

Time for Online Lenders to Get Serious About Disclosure Boxes from American Banker – Small business lenders need to get serious about transparency. I completely agree with Brayden McCarthy here.

July Continental European Volume Roundup – Funding Circle Hits the Pause Button from AltFi – The marketplace lending slowdown has also affected Continental Europe.

Mintos Reports: Over €50M in Loans Financed on the P2P Lending Marketplace Since Launch from Crowdfund Insider – Latvian p2p lending platform Mintos is quietly becoming a leading platform in Europe.

How Brexit Has Impacted P2P Lending from Bloomberg (video) – James Meekings co-founder of FundingCircle talks Brexit, risk and investor demand on Bloomberg.

Interview – Finbee the First Year from P2P-Banking – The Baltics are a hotspot for p2p lending. Here is an interview with Lithuanian platform Finbee CEO.

P2P Lending Platform Faircent Gets $1.5 Mn Boost From Brand Capital from Inc42 – There is more entrepreneurial activity for p2p lending in India than anywhere. Faircent has raised another $1.5m.

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.

Lending Club 2Q 2016 Results – Forum members discuss Lending Club’s latest earnings report.

What does 9 month loss estimate REALLY mean? – An investor asks about loss estimates on Lending Club loans.

I’m peeved with lack of EFG loans – Investors discuss the availability of riskier loan grades.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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