Marketplace Lending News Roundup – May 28, 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.

Online Lender SoFi’s Bond Deal Receives Highest Moody’s Rating from The Wall Street Journal – Finally some good news for online lending: SoFi has secured a Moody’s AAA rating for their latest securitization.

LendingRobot CEO Emmanuel Marot Shares Views on P2P/Marketplace Lending Industry from Crowdfund Insider – Good interview with Emmanuel from LendingRobot on the state of p2p lending.

This Chinese billionaire bought a stake in Lending Club from San Francisco Business Times – More on the Chinese billionaire who invested in Lending Club.

Now Begins Marketplace Lending’s Maturity Chapter from American Banker – David Klein on the four pillars of a great marketplace lending platform today.

Deloitte just trashed the hype around a $180 billion fintech market from Business Insider – While I disagree with Deloitte’s findings we need to keep in mind the points it has raised.

Solicitor General Tells Supreme Court Not to Hear Interest-Rate Case from The Wall Street Journal – While it is not over in Madden vs. Midland the Supreme Court has been advised not to hear the case.

LendingClub Fund Falters from The Wall Street Journal – More bad news for Lending Club – the returns in the LC Advisors Broad Based fund have dropped.

Changes in Lending Club Underwriting – Looking Beneath the Headlines from MonJa – James Wu shares his thoughts on the recent loan performance updates at Lending Club and it is not bad news.

Prosper Marketplace explores options from Financial Times – This is not surprising. Prosper has retained Financial Technology Partners and J.P. Morgan to explore fundraising options.

Blue Elephant to buy loans again from Prosper Marketplace after pause from Reuters – Long time Prosper investor Blue Elephant Capital is buying loans again.

TrustBuddy Update: Trustee Secures SEK 50 Million. No Embezzlement Uncovered from Crowdfund Insider – It looks like there was no fraud in the TrustBuddy collapse in Europe – just bad management.

Tradestreaming’s list of top resources about the marketplace lending industry from Tradestreaming – Great marketplace lending resource list from Tradestreaming.

Lufax CEO Says IPO Postponed to Next Year Amid Market Tumult from Bloomberg – Lufax is one of the shining stars of the Chinese fintech industry but they won’t be going public any time soon.

LendingClub Upheaval Threatens U.K. Market Poised for Takeoff from Bloomberg – I think the UK will be largely shielded from the Lending Club saga but there might be some short term impact.

FinTech Series: Marketplace Lending from the Federal Trade Commission – I will be speaking next month at the FTC Fintech Series event on marketplace lending.

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.

Are you investing in new notes at LC – The forum takes a poll and chimes in on what their future plans are related to investing in Lending Club notes.

LC delinquencies went DOWN in Feb & March 2016 – A forum member shares a chart from Insikt, which shows declining delinquencies.

Open letter to Mr. Sanborn and the Lending Club Board of Directors – A Lending Club investor decides to write Scott Sanborn an open letter on the forum.

How should I evaluate my portfolio, help! – A seasoned investor asks how to best calculate returns. The discussion then turns to risk.

How to bulk sell notes? – An investor asks how to sell many loans at a time.

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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