Tagged: david klein

To Win Long Term, Goldman’s Online Lending Effort Will Need to Win Over Millennials

By now, you’ve more than likely heard about Goldman Sachs’ plans to launch an online consumer lending unit as early as next year. Yes, Goldman Sachs, the 146-year-old Wall Street giant best known for focusing on the 1%, is making a bet on Main Street with plans… Read More

CommonBond Closes First Securitization. $100 Million Issue Gets Investment Grade Rating

Direct lender CommonBond has completed its first securitization backed by graduate student loans.  The $100 million securitization received investment grade ratings from both Moody’s and DBRS of Baa2 and A (high) respectively.  Morgan Stanley served as lead underwriter and sole manager for the transaction. White… Read More

CommonBond Issues $100 Million in Securities for Student Loans

Receives “Investment Grade” Rating from Moody’s & DBRS It was not that long ago that ratings agencies looked askance at marketplace lending platforms.  Yesterday CommonBond, a marketplace lending platform that targets the student loan refinancing space, received a solid review from both Moody’s and DBRS.  Moody’s delivered… Read More

Citigroup Exec Joins Fast Growing Lender CommonBond

Former Citigroup executive Vinayak Gurjar has joined marketplace lender CommonBond as Chief Risk Officer.  Gurjar joins a growing number of traditional banking managers switching over to new, fast growing financial firms.  While the banking industry has suffered years of slow growth, crushing regulations and a… Read More

Nelnet Has Agreed to Finance $150 Million of CommonBond’s Loans

CommonBond Expands Service to Over 700 Programs Nationwide. Student loan lender CommonBond has announced a significant commitment from Nelnet(NYSE: NNI), one of the “most venerable names in student loans” to fund $150 million in loans.  Nelnet has also made an equity investment in CommonBond thus… Read More

Marketplace Lending Is Doing What Banks Can’t

Lending Club’s IPO was massively successful. Up 56% on the first day of trading. $1B of additional cash raised. Largest IPO out of Silicon Valley in 2014. Higher market valuation than all but 14 banks in the U.S. That it was the first “peer-to-peer” lending company to go public made… Read More

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