The service from Whitepages Pro can add another layer to identity verification for online lenders; it provides lenders with analysis of a potential borrower's associated phone number, email, mailing address and business name; Whitepages CEO Rob Eleveld says the service gives lenders a broad profile of the borrower which in most cases is difficult to fraudulently create; it can also be accessed through APIs which makes connecting to the service easy for lenders. Source
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Lend Academy provides more details on defaults triggering a breach in a SoFi securitization portfolio; the portfolio reporting the defaults was SoFi's first securitization of unsecured consumer loans, the SoFi Consumer Loan Program 2015-1 LLC; given the terms of the deal and the overall characteristics, the breach does not seem to have broad market indications; the deal arrangers set the trigger level at 3% which is a relatively low rate and the cumulative net loss is only reported to be marginally above the trigger; a chart from PeerIQ also provides more details on the cumulative net loss rates for SoFi. Source
Scott Sanborn provided the opening keynote presentation at LendIt USA 2017; the appointment of Sanborn has been a critical success factor for Lending Club and the marketplace lending industry; in his presentation he discusses the challenges of 2016 and the significant growth opportunity that still remains ahead; compares the market's potential to the growth of Amazon; provides insight on important factors for growth over the next ten years.
