The blockchain development industry is expected to be standardized by 2021, according to New York-based business and financial services firm Moody’s. Senior research analyst at Moody’s Frank Cerveny says, “Standardization of blockchain technology would make its benefits more accessible for securitisations. Standardization would … reduce… Read More
Earlier this month, securities rating firm Moody’s produced a report on blockchain technology and the implication for financial services firms. In a release, Moody’s stated that “blockchain technology has the potential to significantly reduce the costs and time involved in cross-border banking transactions, increasing banks’… Read More
The three biggest agencies relied upon to assess the credit-worthiness of banks and investment products -Standard & Poor’s, Moody’s and Fitch- have indicated they may downgrade scores of institutions that clear Bitcoin futures contracts or have exposure to the clearing of them, Risk.net reports. Last… Read More
CommonBond, an online lending platform servicing the student loan market, has received its first triple A rating for securitization. Moody’s has assigned provisional ratings of (P)Aaa (sf) to Class A-1 and A-2 notes to be issued by CommonBond Student Loan Trust 2018-A-GS (CBSLT 2018-A-GS)…. Read More
Moody’s Investor Service has upgraded 4Finance‘s credit ratings to B2 from B3. The upgrade comes as 4finance says it has passed € 5 billion in loan originations. The 4finance S.A. senior unsecured issuer rating was also upgraded to B2 from B3. The outlook on all ratings… Read More
Moody’s is out with a note commenting on the Office of the Comptroller of the Currency’s recent announcement it will offer Special Purpose Bank Charters for Fintech firms. The move by the OCC was in recognition of the growing importance of Fintech and the movement… Read More
P2P Global Investments and Zopa have teamed up to work on Europe’s first securitization of unsecured consumer loans originated online, reported Bloomberg. The £138M ($179 million) transaction is backed by 27,137 loans to individuals, according to Moody’s Investors Service, with a weighted average seasoning of 10 months and a maximum loan… Read More
Foreshadowing the inevitability for all forms of finance moving online, Moody’s has published a report stating the Residential Mortgage Backed Securities (RMBS) will soon be issued by marketplace lending platforms. They also believe that current regulatory and securitization frameworks will reduce additional risk with RMBS… Read More
Moody’s has published a report on the marketplace lending industry stating that platforms are “steadily expanding credit to small and medium sized enterprises (SMEs) – but challenges remain. The authors are of the opinion that partnerships with traditional banks may ease the path forward for… Read More
Moody’s confirmed ratings on securities backed by pools of unsecured consumer installment loans originated by Prosper. The bonds which were sold by Citigroup got hit by a downgrade warning earlier this year. Moody’s has now removed the warning in a rating action this past Thursday. According to… Read More
While the marketplace or online lending industry has been hammered recently with negative news, WSJ.com is reporting that Moody’s has delivered the highest rating possible for a new bond deal coming out of SoFi. According to the report, the most recent bond securitization deal merited a… Read More
Rating’s agency Moody’s has published a report that is critical of the marketplace lending sector. Pointing to the class action lawsuit filed in a US District Court against Lending Club (NYSE:LC) on April 6th, Moody’s states that owners of Asset-Backed Loans (ABS) face legal challenges… Read More
Moody’s assigned definitive rates to the SoFi Professional Loan Program (2015-D). According to Moody’s, approximately $536 million in asset backed securities were rated. The securities are backed by student loans. Moody’s said cumulative expected net loss for the loan pool was about 4.7%. The rating… Read More
Moody’s Investor Service on Monday said that tighter regulations in China, which is Aa3 stable, have been successful in slowing the growth of core “shadow banking” activity. However, other alternative banking activities have been expanding more rapidly–a situation akin to pushing down on an inflating air mattress and watching the surrounding space rise… Read More
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
SoFi received provisional ratings from Moody’s on over $411 million in post graduate loan backed notes on Monday. The notes were rated from Baa3 to Aa3 – the highest rating received to date according to Bloomberg. According to Moody’s the provisional ratings were assigned to… Read More
Peer to Peer Lending Platform Achieves “A” Rating from S&P and “A2” from Moody’s Social Finance or “SoFi”, a leader in P2P or marketplace lending, today closed a $303 million+ securitization of refinanced student loans for graduate borrowers. The senior notes were rated “A” by… Read More
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