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.
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
Kroll Bond Rating Agency (KBRA) has provided ratings and released more details on Marlette Funding's Marlette Funding Trust 2017-1 (MFT 2017-1) securitization; the transaction is valued at $257.44 million and includes consumer loans from Marlette; the portfolio includes three tranches rated A to BB; the majority of the loans are contained in tranche A which accounts for 80%. Source
