Peer to Peer Lending News Roundup – June 22, 2013

During the week I share the latest p2p 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.

The main focus of the p2p lending world this week was on the LendIt Conference in New York City on Thursday. It was an excellent event and I will have a full report early next week.

When Will Socially Responsible Investing Discover P2P Lending? from LendingMemo – The side of peer to peer lending that is not discussed much – the social benefit of loaning money to people in need.

Why Friendsclear Closed from Wiseclerk – The French p2p lender Friendsclear closed down last month, here are some reasons why.

LendIt2013 Morning Liveblog: Renaud Laplanche from LendingMemo – The morning keynote highlights from the LendIt Conference by Simon Cunningham.

LendIt2013 Afternoon Liveblog: Ron Suber from LendingMemo – The afternoon keynote featuring Prosper’s Ron Suber.

Community Banks Join the Lending Club Platform (press release) – The big news announced by Lending Club this week at the LendIt Conference: banks are now participating as lenders on the Lending Club platform.

P2P: The Next Evolution in Lending from SocietyOne – An Australian perspective on the LendIt Conference.

7 Key Learnings from the Inaugural P2P/Online Lending Conference from MicroFinancier – A regular Lend Academy reader and LendIt attendee provides some key takeaways from the conference.

Fledgling P2P industry eyes progress from Financial Times – First coverage of the LendIt Conference published just hours after the event finished.

The Growth of Peer-to-Peer Lending from BloombergTV – While in New York on Thursday for LendIt Renaud Laplanche dropped by the Bloomberg TV studios for an interview.

Peer-to-peer loans: Can you get better returns by lending your cash to others? from The Independent (UK) – The returns on p2p lending in the UK are lower than in the US but still very attractive to investors there.

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.

Changes to Interest Rate and Expected Return – Lending Club adjusted interest rates as well as expected default rates this week.

How is this possible? – One of the perils of buying notes on the trading platform is that they can pay right away.

Would you kindly invest in my loan? – We don’t hear from borrowers that often on the forum but here is a Prosper borrower being proactive in looking for investors.

 

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Sean Hunter
Sean Hunter
Jun. 22, 2013 12:37 pm

You might not hear from borrowers much in the forums, but I bet they’re there. I’m a perfect example of one of those lurkers.

In my case, I both have a loan with LC and an investment account with Prosper. Seems counterintuitive, no? Why would someone have both when borrowing is almost certainly more expensive than the potential gains (and certainly the gains come at the expense of uncertainty)? Basically, some of my money’s been earmarked for particular purposes, but I also had debt that needed to be refinanced.

Together, it’s both opened my eyes to the world of finance (I’m having interesting problems investing that I didn’t know existed before), and introduced me to a new community. I particularly enjoy reading about investors complaining about early payoff of loans. There’s something oddly amusing about watching a very small group of smart people complain about low risk borrowers paying back their loans. 🙂