Anthony Hsieh of loanDepot shared his insights on the marketplace lending industry at the Marketplace Lending and Alternative Financing Summit; said technology would be the industry's main barrier to entry, an even greater factor than regulation; according to Hsieh, tech-enabled platforms with scale in the market will have an advantage as the outlook for new capital is uncertain. Source
In their weekly update PeerIQ covers the Trump tax plan, the recent Transunion consumer lending report and marketplace lending securitization news; the Transunion report shows that fintech companies have originated 30 percent of unsecured consumer loans in 2016; Darien Rowayton Bank and SoFi filed securitization deals; PeerIQ also took a closer look at SoFi’s SCLP 2017-6 deal which was the largest on SoFi’s shelf so far. Source.
Rating agency DBRS has reviewed 12 US SoFi securitization transactions encompassing 36 different classes; the rating agency has upgraded 12 classes and confirmed 24; according to the agency, the confirmed classes are performing within expectations and the credit enhancement levels for the upgraded classes are sufficient to cover their new requirements. Source
The SEC has agreed to reconsider its review of the Winklevoss bitcoin ETF rejection following a petition from the Bats exchange; a comment period is now open for support or opposition of the Disapproval Order until May 15; the SEC has not approved any bitcoin ETFs for trading also rejecting the listing of SolidX on the NYSE Arca. Source
Business Insider sat with Coinbase’s Dan Romero who recently took on the role of general manager and vice president of the company in January; the interview covered the company’s plans for growth on the engineering and product sides; he said the company is looking to become for cryptocurrency what Google has become for search; the interview also talks through the recent SegWit upgrade, where Coinbase is headed in the next few years and how they compare to their biggest competitors. Source.
