Tagged: marketplace lending

Chief Deputy Whip Patrick McHenry & Congressman Gregory Meeks Introduce Bill Addressing Madden v. Midland Case

Chief Deputy Whip Patrick McHenry, the Vice Chairman of the House Financial Services Committee has partnered with Congressman Gregory Meeks to introduce HR 3299 entitled, “Protecting Consumers’ Access to Credit Act of 2017“. This bill is designed to “restore consistency to our nation’s lending laws… Read More

Zopa’s Home Improvement Index Reveals: Kitchen Is the Heart of the Home & A New One Can Deliver Homeowners Over 50% Return on Investment

On Wednesday, peer-to-peer lender Zopa released its latest Home Improvement Index that indicated a quart of British homeowners looking to improve their homes this summer are choosing to renovate their kitchens and are seeing a 51% return on investment as a result. According to research, 25% of… Read More

LENDonate Enables Nonprofits to Source Loans & Donations Simultaneously

LENDonate, an Oakland-based fintech company, launched a hybrid online lending platform for 501(c)(3) nonprofits. The hybrid platform enables nonprofits to source loans and donations simultaneously. LENDonate aims to unite nonprofits with lenders, including financial institutions, philanthropic organizations, and accredited investors for quick funding of high-quality, low… Read More

Kroll Bond Rating Agency Assigns Preliminary Ratings to Marlette Funding Trust 2017-2

Kroll Bond Rating Agency (KBRA) announced on Monday it has assigned preliminary ratings to three classes of notes issued by Marlette Funding Trust 2017-2. This is a $322.7 million consumer loan ABS transaction that is expected to close on June 29th. Marlette, which was founded… Read More

Singapore Marketplace Lender Capital Match Facilitates S$40M+ in Cumulative Origination

Capital Match announced that it has facilitated over S$40 million in cumulative origination since the start of its operations in 2015. The company claims itself as the largest pure marketplace platform in Singapore and greater Southeast Asia offering invoice financing and secured lending products. Accredited… Read More

Brief: Prosper CFO Usama Ashraf Comments on Closing First Securitization from PMIT 2017-1

As expected, Prosper, the SF-based marketplace lending platform for consumer loans, announced the closing of the first securitization from the Prosper Marketplace Issuance Trust, Series 2017-1, “PMIT 2017-1.” “We are very pleased with the execution of this transaction, which was not only upsized based on… Read More

Chinese P2P Lender Dianrong Links with Maggie Ng to Launch Global Fintech Marketplace

Chinese P2P lender Dianrong announced a new technology agreement with Maggie Ng, a leading consumer banking executive in Asia Pacific, to launch a global fintech marketplace connecting Asian investors with high-quality, low-volatility and largely untapped asset classes, including U.S. consumer lending. Founded in 2012, Dianrong originates… Read More

New Record & Update: In April Money360 Closed $45M in Real Estate Marketplace Loans

M0ney360, a leading commercial real estate marketplace lending platform, closed more than $45 million in loans in April, bringing the company’s total production to over $250 million in closed loans, with an expected $500 million in transactions by year-end. Money360’s recent loan closings span properties… Read More

Funding Circle Database Records Left Publically Available

Kromtech Security Researchers say they discovered a “massive trove of data” from both businesses and investors on the online lending platform Funding Circle. The data only referenced US based customers and did not impact other markets where Funding Circle originates loans. Reportedly, no data was… Read More

Asset Management & Institutional Advisory Firm NewOak Forms Partnership With LendingArch to Purchase Up to $2 Billion in Consumer Loans

Canadian marketplace lending platform LendingArch, announced it has formed a partnership with NewOak, a New York-based asset management and institutional advisory firm who have advised on over $5.5 trillion in assets on behalf of the world’s top banks, institutions, law firms, and regulators. According to… Read More

LendingHome’s Investor Platform Hits $100 Million Invested Since January 2016 Launch

Marketplace lender LendingHome announced on Wednesday its investor platform has successfully hit its $100 million invested milestone since its debut in January 2016. According to LendingHome, the investor platform gives accredited investors access to a marketplace with the same short-term, high-yield real estate assets that… Read More

Kabbage Exceeds $3 Billion Mark, Lends to over 100,000 SMEs

Kabbage, a leading financial services, technology and data platform, announced it has extended more than $3 billion to small businesses across all 50 U.S. states, covering every industry. The company has also now served over 100,000 small businesses through its platform, representing the largest customer base of… Read More

Yirendai Appoints Dr. Yichuan Pei As New Chief Credit Officer

Chinese marketplace lending platform Yirendai announced on Thursday it has appointed Dr. Yichuan Pei as its new Chief Credit Officer. According to the lender, Dr. Pei will be responsible for the over management of its credit department to ensure that the credit risk of loan… Read More

Former ING Direct Australia CEO Vaughn Richtor Joins RateSetter Board, Will Help Evolve P2P Loan Marketplace

Vaughn Richtor, current ING Advisor and former CEO of ING Direct Australia and  Growth Countries Asia has joined the RateSetter board, according to news services. Richtor commented that P2P loan marketplaces have “the potential to introduce more competition in financial services” and ultimately benefit the end consumer. “Vaughn’s track record… Read More

eOriginal Joins Marketplace Lending Association

Digital transaction company eOriginal announced on Thursday it has joined the Marketplace Lending Association (MLA), which promotes a transparent, efficient, and customer-friendly financial system by supporting growth of the marketplace lending industry. Speaking about the company joining the association, eOriginal’s President and CEO, Stephen Bisbee, stated:… Read More

Lendio Unveils New Marketplace Lending Franchise Program

Marketplace for small business loans, Lendio, on Tuesday it is expanding the reach and availability of its small business lending options with the launch of its new franchise program. The lender claims that this is an industry “first of its kind” program. Lendio stated that… Read More

John Cummins Appointed New CIO for Australian Marketplace Lender SocietyOne

The Australian largest marketplace lending platform SocietyOne announced John Cummins has joined the group as CIO, according to The Advisor. Reporting to SocietyOne CEO and MD Jason Yetton, Cummins will be responsible for SocietyOne’s funding requirements to support demand from an expanding number of borrower customers, including building on SocietyOne’s existing network… Read More

Money360 Expands: Appoints David Christensen & Kenneth Wood As New Directors

On Tuesday, commercial real estate marketplace lending platform, Money260, announced it hired two new directors, David Christensen and Kenneth Wood, to support the increasing demand in the northeast and northwest regions of the U.S.  According to Money360, Christensen has more than 30 years of industry experience in… Read More

Stable Growth, Multiple Awards: China Rapid Finance Named to Hurun Report

China Rapid Finance Limited, a large Chinese consumer lending marketplace launched in 2001, added to its recent haul of awards and recognitions by being named to Hurun Report’s “2017 China New Finance Top 50.” CRF’s inclusion on the list reflects the company’s stable growth in consumer… Read More

dv01 Forms Collaboration With Experian to Bring Additional Transparency to Marketplace Lending

On Thursday, reporting and analytics platform dv01 announced it is collaborating with Experian to bring transparency to marketplace lending. The companies stated that the collaboration would provide dv01 clients with access to richer borrower credit attributes while they conduct performance analysis using dv01’s online tools. Perry Rahbar,… Read More