Marketplace Lending News Roundup – September 19, 2015

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.

Pitfalls for the Unwary Borrower Out on the Frontiers of Banking from The New York Times – While not entirely balanced, a look at marketplace lending from the troubled borrower perspective.

RainFin ‘has pulled the Ferrari out of the garage’ from Business Day Live – It has been a while since we have heard from RainFin in South Africa. They are growing well.

Fast-Growing P2P Sector Set for Shakeout from The Wall Street Journal – In the UK the increased cost of regulatory compliance is changing the game.

Why are peer-to-peer lenders so happy about being regulated? from AltFi – Rhydian Lewis from RateSetter explains why he is happy to spend £500k on regulatory compliance.

Banks target young with P2P lending for weddings, parties, anything from The Sydney Morning Herald – Down under banks are starting to partner with marketplace lending platforms like SocietyOne.

Crosslend Launches New P2P Lending Marketplace from P2P-Banking – Crosslend is a new German p2p lending platform open for investors in Germany, Spain and UK.

The Finanser Interviews: Ron Suber, President, Prosper from The Financial Services Club Blog – Great in depth interview with president of Prosper by Chris Skinner.

NSRInvest Brings Institutional Tools for Smaller Investors in Marketplace Lending Assets from Crowdfund Insider – Nice profile of our sister company NSRInvest and an interview with Bo Brustkern.

Avant enters the Great White North from Crain’s Chicago Business – Big expansion plans for Avant. They have opened in Canada and will launch a credit card in 2016.

1,000,000 investment orders from LendingRobot Blog – Congrats to LendingRobot for reaching 1 million p2p lending orders submitted.

The Online Lending Industry Is Growing Sharply (and So Are the Gripes) from Inc. – There have been some misunderstandings about marketplace lending recently. Inc asks some CEOs to clarify.

Lending Club Opens to Investors in Indiana, Kansas, and Nebraska from PR Newswire – And the new states keep coming for Lending Club. Welcome to marketplace lending investors in Indiana, Kansas & Nebraska!

Intuit, OnDeck Unveil QuickBooks Loan Fund: What It Means for You from NerdWallet – This is a significant deal for OnDeck. They announce a deal with QuickBooks providing loans 9% – 20% APR.

Prosper Marketplace & Radius Bank Join Forces to Offer Personal Loans Through Online Lending Platform from Crowdfund Insider – Another banking partnership announced this week.

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.

Early bankruptcies in loans – A new investor in Lending Club and Prosper asks about loans where the borrower files bankruptcy very soon after getting a loan.

Valuing a note – An investor asks other forum members how to value notes on the secondary market.

Have notes in grace period. Now what to do? – Forum members discuss whether or not you should sell notes that do not have perfect payment history.

Rising criticism of P2P Lending – Anil of PeerCube shares several negative articles written about this industry.

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