Lend Academy provides details on how marketplace loans are performing at Lending Club and Prosper; delinquency rates have been increasing since the third quarter of 2014; less risky loan grades have continued to report the best performance; lower quality loans have suffered increased degradation specifically since the third quarter of 2014; Prosper has made fewer interest rate changes than Lending Club and it seems its higher risk loans are performing slightly better; Lending Club announced additional changes to the platform on January 18th. Source
News Roundup
This page contains an archive of the Global Newsletter summaries and the weekly fintech news roundups.
Every day the Fintech Nexus news team scours the globe for the most important stories of the day to include in our daily newsletter.
Then every Saturday we bring you our weekly news roundup of the top 10 fintech stories of the week with commentary from Peter Renton.
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Lend Academy shares several companies who have announced major origination milestones across small business lending and real estate; included in the list is Kabbage, LendingHome, Funding Circle and LendingClub. Source
Last week the Securities and Exchange Commission (SEC) released a report on the initial coin offering (ICO) of the Decentralized Autonomous Organization (the DAO), which raised almost $150 million from investors using this new capital raising method (before returning the money); the report explained that the SEC views this ICO as a sale of securities and that the DAO was in violation of securities laws, though no enforcement action was taken. Source
Brett Boehm, principal and director of business development for TBF Financial, shares the various options that lenders have for non-performing loans; many firms chase non-performing loans when perhaps selling the loans to a commercial debt buyer is a better option; blog post discusses commercial debt buying, recovery options for the lender, and how to deal with reputable buyers and brokers. Source
Venkatesh Bala from Biz2Credit shares new ways that lenders should think about risk management. Source
Upgrade has launched for consumer lending; Lend Academy provides details on the platform's fundraising, lending criteria and lending structure; Renaud Laplanche has raised $60 million for the new company; its loans will focus on high credit quality borrowers with low debt-to-income and minimum monthly free cash flow of $1,000; loans range from $2,000 to $50,000; the platform will be partnering with WebBank for loan originations and will then acquire the loans and sell them to institutional investors with some portion of the loans retained on the firm's balance sheet. Source
OnDeck has been working towards executing on their five strategic initiatives for...
OnDeck has achieved GAAP profitability and announced some interesting new developments for 2018. Source
As rates rise fixed income investors are looking for places to put cash; Lend Academy shares the latest rates on savings and CD accounts as well as a look at the newly branded Marcus by Goldman Sachs bank account. Source
LendingClub has recently updated the way users can setup automated investing within...