Marketplace Lending News Roundup – December 17

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.

P2P platforms and the FCA are increasingly well aligned on disclosure from AltFi – Rupert Taylor of AltFi Data has become something of a crusader on marketplace lending platform disclosure.

Fifth Third Signs New Banking Partnership With ApplePie Capital from The Wall Street Journal – Big news from ApplePie Capital on their new $16.5 million funding round and partnership with Fifth Third.

Biz2Credit Reports: Small Biz Loan Approval Rates at Banks & Institutional Lenders Reach New Heights in November 2016 from Crowdfund Insider – Banks continue to increase their approval rates on small business loans but are still behind alternative lenders.

China’s ‘Big Four’ banks still keeping a safe distance from burgeoning peer-to-peer lending sector from South China Morning Post – Interesting piece on the relationship between banks and p2p lending platforms in China under the new regulations.

Alternative Funders Bid Adieu to 2016, Show Renewed Optimism for 2017 from deBanked – deBanked talks to many industry leaders about the year in online lending and what’s in store for 2017.

SoFi’s Debut Prime Jumbo RMBS Is Big Play on Silicon Valley from National Mortgage News – Breakdown of the new SoFi securitization of their real estate jumbo loans.

The UK government invests £85 million in peer-to-peer lending sector where the watchdog has ‘concerns’ from Business Insider – In the UK the British Business Bank has been investing on p2p lending platforms for many years.

Even Financial Milestone: Surpasses $1.5 Billion in Loan Requests & Increases Online Loan Originations by 205% from Crowdfund Insider – Loan comparison site EVEN Financial has now processed over $1.5B in loan requests.

How the OCC Plans to Apply CRA-Like Requirements to Fintech Firms from American Banker – The Community Reinvestment Act was passed in 1977. How should/will it be updated for the modern world?

The founder of Metro Bank thinks app-only banks are ‘all hype’ from Business Insider – I find it amusing that the head of a challenger bank thinks digital-only banks will never succeed.

$126 million year heralds significant market challenge from peer to peer lender SocietyOne from Mozo – In Australia SocietyOne is gaining momentum passing A$200M in total loans.

China’s $8.6 billion P2P fraud trial starts: Xinhua from Reuters – China’s biggest online lending fraud trial is starting.

Lending Club CTO Resigns from Crowdfund Insider – Looks like there will be another fresh face on the Lending Club exec team with their CTO leaving.

Prosper Performance Update: November 2016 from Prosper – The monthly performance update from Prosper is out.

12 Questions to Discover Point from LendingRobot – .Point Finance is an interesting new company tackling real estate equity investing.

THE FINTECH REPORT 2016: Financial industry trends and investment from Business Insider – Investing in fintech is still hot as shown by this new report from BI Intelligence.

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.

Default rates by employment title – An investor does an analysis on employment title on Lending Club loans.

Cash Parking – Forum members discuss interest rates on savings accounts, CDs and mortgages.

Credit card utilization – A forum member shares their FICO score over time as they applied for various credit cards and increased their utilization.

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