Marketplace Lending News Roundup – February 6, 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.

J.P. Morgan Acquires Nearly $1 Billion Worth of Lending Club Loans from The Wall Street Journal – Some good news for Lending Club today. JPMorgan has bought the $1B Santander loan portfolio at a premium.

China arrests 21 people for $10.7 billion P2P lending ‘ponzi scheme’ from Business Insider – The Ezubao saga keeps getting worse. Now China has arrested 21 people in the huge Ponzi scheme.

Avant’s $2bil valuation in 3 years, how ? from Lending Times – Interesting profile on Avant and their massive growth over the past 3 years.

International P2P Lending Loan Volumes January 2016 from P2P-Banking – In the UK RateSetter is off to a very strong start to 2016. The p2p lending loan volume list is out.

How to make money from the UK’s crazy property market without buying a house from Business Insider – There is a new term in finance: PropTech and platforms like LendInvest and Landbay are leading this movement.

Interview with Peter Renton from WDZJ – When I was in Shanghai last month I sat down for an interview with WDZJ, a leading p2p lending media company.

Fintech Fireside: Is Fraud the ‘Big Chill’ in Alternative Lending? [Video] from Credibly – The latest video in my series with Credibly CEO Glenn Goldman where I discuss fraud.

Peer-to-peer lending doubles to £4.4billion in 2015 as sector prepares for innovative finance Isa launch from This is Money – In the UK the p2p lending industry has lent over £4.4B to 273K borrowers through the end of 2015.

The online lending lie from FT Alphaville – The legal process within which marketplace lending operates is complicated as Kadhim Shubber explains in the Financial Times.

Quicken Loans getting into personal loans from Detroit Free Press – This country’s largest non-bank lender Quicken Loans is adding personal loans to their offerings.

Why 1 in 5 millennials say they’re taking on personal loans from MarketWatch – Here is a tailwind for marketplace lending. More people than ever want to take out personal loans.

LendingClub Models Misfire as Loan Write-Offs Top Forecasts from Bloomberg – Despite the sensational headline there is some good info in this article on Lending Club.

These are the biggest, fastest-growing Bay Area fintech companies from San Francisco Business Times – Lots of marketplace lending platforms in this list of major Bay Area fintech employers.

Dianrong Signs JV With Hanwha Group from AltFi News – Leading Chinese p2p lending platform Dianrong is expanding into South Korea.

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 best to liquidate an account? – A Lending Club investor asks about the best way to withdraw funds from an account.

New Loan Rates (Jan ’16) – Lending Club announces another change to interest rates which are modified based on many factors.

2015 Tax Guide for retail investors changes (8949) – Investors discuss the latest tax guide provided by Lending Club.

Subscribe
Notify of
3 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
todd
todd
Feb. 8, 2016 9:25 am

Despite what you refer to as “good info”, LC has done an 8K filing and a full response to the Bloomberg article by Noah Buhayar rebutting the misleading (LC has politely termed it “misinterpreted”, but they’re being more charitable than I am) “information” presented, which apparently wasn’t fact-checked, prior…

https://blog.lendingclub.com/credit-performance-update/

Exec. summ.: LendingClub loans are performing fine…

todd
todd
Feb. 8, 2016 10:21 am

With the article proclaiming the failure of LC’s pricing model – when the exact opposite is the truth – I am quite happy to see LC stop being so complacent and fight back against some of this “misinterpretation”.