Tagged: lending club

November 28, 2016 @ 9:00 am By JD Alois  |  

Orchard has published its quarterly report on loan originations for the online lending industry. According to their numbers, origination volumes continued to drop in Q3 from Q2 2016.  The decline was significant too – decreasing by 21% in Q3 and down 50% from the peak… Read More

November 16, 2016 @ 6:08 pm By JD Alois  |  

Renaud Laplanche, the visionary behind Lending Club (NYSE:LC) who was pushed out of the marketplace lender this past May, is prepping a new online lender: Credify Finance Corp. WSJ.com is reporting that Laplanche along with two other former Lending Club executives, Jeff Bogan and Adelina Grozdanova,… Read More

November 8, 2016 @ 8:50 am By JD Alois  |  

Stacking is a significant challenge for the online lending industry. While most consumers are responsible individuals who only want to borrower what they can afford, there is a segment of society who are challenged to manage their finances. The advent of online lending has made… Read More

November 7, 2016 @ 8:26 am By JD Alois  |  

Scott Sanborn, CEO of Lending Club (NYSE:LC) delivered an upbeat report on Q3 results today sharing on the earnings call that progress was moving forward ahead of expectations.  Sanborn said investors invenctives were removed and many institutional investors had returned to the fold. Lending Club… Read More

November 7, 2016 @ 7:32 am By JD Alois  |  

Lending Club (NYSE:LC),the largest  marketplace lending platform in the US, is out with Q3 results.  Lending Club reported a net loss of $36.5 million for the Q3 of 2016, an improvement vs. the net loss of $81.4 million reported in Q2 of 2016. Meanwhile originations… Read More

November 7, 2016 @ 7:14 am By JD Alois  |  

Lending Club (NYSE:LC) has announced a significant partnership with the National Bank of Canada and its US subsidiary Credigy.  The agreement calls for Credigy, a firm that specializeds in consumer finance investment,  to invest up to $1.3 billion over the next 12 months. Scott Sanborn,… Read More

October 30, 2016 @ 6:04 pm By JD Alois  |  

Ron Suber has been pounding the table as of late on the benefits of marketplace lending and the future potential of Fintech in a series of presentations. His future is, of course, tightly intertwined with an industry that has taken a beating in past months…. Read More

October 29, 2016 @ 2:51 pm By JD Alois  |  

The largest US marketplace lending platform Lending Club (NYSE:LC) introduced a new vertical on October 25th.  Lending Club will now offer individuals the option to refinance their existing auto loans and potentially save a good amount of money.  While only available to residents of California… Read More

October 28, 2016 @ 5:16 pm By JD Alois  |  

Orchard Platform is out with their weekly report and they are reporting that “things appear to be getting back on track” as money is flowing back into the online lending sector.  New loan issuance is being led by platforms like SoFi and Avant. If this… Read More

October 25, 2016 @ 7:32 am By JD Alois  |  

Lending Club (NYSE:LC) has entered a new credit vertical with the launch of an auto loan refinancing product. The marketplace lending platform pointed to the fact that for most consumers an auto purchase is their second largest following their home. Initially only residents of California will… Read More

October 24, 2016 @ 7:21 am By JD Alois  |  

Lending Club (NYSE:LC) has scheduled third quarter earnings release for Monday, November 7, 2016. The conference call will take place at 8AM ET that day. A live webcast of the call will be available at on the Lending Club website under the Events & Presentations menu…. Read More

October 18, 2016 @ 4:37 pm By JD Alois  |  

A report in the Korean Herald has pointed to Hanwha Life Insurance purchasing a 4.1% equity stake in Lending Club (NYSE:LC).  Hanwha Life spent 75 billion won or approximately USD $66.25 million as they believe its stock is undervalued. PulseNews reported last year that Hanwha… Read More

October 14, 2016 @ 5:07 pm By JD Alois  |  

Siddhartha Jajodia, Lending Club‘s Chief Investment Officer, has forwarded a letter to the platform’s investor’s updating the key stakeholders on credit and interest rate changes. The letter from Lending Club (NYSE:LC) was disclosed in an 8-K filed with the SEC today (October 14, 2016). In… Read More

September 30, 2016 @ 7:50 pm By JD Alois  |  

Lending Club (NYSE:LC) has been stocking up on new executive hires during the past several months. One of the recent hires, Patrick Dunne – a former Blackrock executive, joined this past July as Chief Capital Officer. Dunne plays an important role is communicating with both… Read More

September 26, 2016 @ 5:19 pm By JD Alois  |  

Lending Club (NYSE:LC) has been on a steady pace rebuilding its executive bench.  Today, the largest marketplace lending platform in the US has announced a new General Counsel. Russell Elmer has been named as the new GC replacing Jason Altieri who has been Lending Club’s… Read More

September 14, 2016 @ 5:46 pm By JD Alois  |  

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, just announced the hiring of its new CFO, Thomas Casey, following the departure of Carrie Dolan announced several weeks back. Today, Lending Club is revealing what they had to pay Casey to gain his… Read More

September 12, 2016 @ 4:37 pm By JD Alois  |  

Lending Club (NYSE:LC), the leading marketplace lending platform in the US, has announced the appointment of Thomas Casey as their new Chief Financial Officer. The hiring comes after long-time executive Carrie Dolan announced her departure several weeks back.  Lending Club described Dolan’s departure as a long… Read More

September 2, 2016 @ 3:37 pm By JD Alois  |  

Chicago-based RiverNorth Marketplace Lending Corporation is poised to launch a fund that will be investing in marketplace lending assets under the 40s Act as a non-listed closed end fund. According to a recent filing with the SEC, the fund anticipates that its investments will originate… Read More

August 25, 2016 @ 3:41 pm By JD Alois  |  

Publishing on the pages of American Banker, Todd Baker has written off the entire industry of marketplace lending. Baker states, “it should be obvious now that marketplace lending is unsustainable.” A pretty strong statement for a sector of alternative finance that has, until recently, experienced… Read More

August 24, 2016 @ 5:33 pm By JD Alois  |  

As part of the rebuilding process Lending Club (NYSE:LC) is seeking out new hires with traditional Wall Street cred.  Today the leading marketplace lending firm has hired not one, but two former Wall Street bankers. Lending Club has appointed Valerie Kay, formerly an MD with Morgan… Read More