LendingClub has seen issuance of their new CLUB Certificate reach $1bn in less than a year after first announcing the pass-through security product last December at their investor day. The CLUB Certificate was created to make it easier for institutions to invest in LendingClub originated loans.
Today, Orchard announced that their Orchard US Consumer Marketplace Lending Index will be distributed on the Bloomberg Professional Service. The index measures the performance of consumer online lending and tracks the overall performance of the aggregate amount of loans originated through various platforms. The Orchard index is currently the only one available for the US market and data is available starting from 2011. The index is based on data from the two largest consumer marketplace lenders: Lending Club and Prosper.
Subscribers to Bloomberg will now have access to the marketplace lending index and will be able to download the data. Besides market performance the index includes other key indicators such as charge-offs and industry growth rates. Platforms that meet certain criteria are added to the index and several are slated to be added in the next 12 months.
Matt Burton, CEO of Orchard, stated: [Read more…]