Tagged: prosper

Bloomberg Report is Critical of Online Lenders

A report from Bloomberg this week takes certain online lending platforms to task regarding the fact that some online lenders are not verifying income status.  The report also says that even if there are errors in loan applications the loan may still be approved. More… Read More

Kroll Assign’s Preliminary Ratings to Prosper ABS Securitization

Kroll Bond Rating Agency (KRBA) has assigned preliminary ratings to three classes of notes issued by Prosper for $450.5 million that is expected to close on May 24, 2017. This will be the sixth securitization which is collateralized by unsecured consumer loans which have been… Read More

Prosper Report: System Error Overstates Return on Loans

Prosper Marketplace, one of the largest online lending platforms in the US, has apparently been overstating annual investment returns on loans due to an error in their systems. Bloomberg reported yesterday that investors were being notified of the error and that the issue has been… Read More

Loan Validation Firm Global Debt Registry Adds Prosper to Network

Global Debt Registry (GDR), a loan validation platform for institutional investors, has added leading online lending platform, Prosper Marketplace to its verification network. GDR says the partnership will enable Prosper investors access to their due diligence tools to ensure loan data integrity. Prosper successfully piloted… Read More

Prosper President Ron Suber Shares Insight & Perspective with French Fintech Industry

Ron Suber, the President of the US marketplace lender Prosper, was interviewed today by Cédric Teissier, the CEO of the French factoring platform Finexkap, at the annual conference of the  France Fintech association, titled “Fintech Revolution 2017 – Here to Stay”. Cédric Teissier asked Ron… Read More

Ron Suber on Fintech & Fraud: A Global Challenge (Deck)

Acts of fraud have been around since the dawning of time. How fraud occurs is a never-ending, shape-shifting challenge for individuals, companies and public authorities. There will always be a new scam. There will always be another Ponzi or Madoff looking to separate hard-earned money… Read More

Rating Action: Fitch Upgrades Loans Originated by Prosper

Fitch Ratings has taken the following rating actions on Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1), which is backed by marketplace loans originated via the Prosper platform: Class A upgraded to ‘Asf’ from ‘A-sf’; Outlook Stable; Class B upgraded to ‘BBBsf’ from ‘BBB-sf’; Outlook… Read More

Seen & Heard at LendItUSA 2017: An Industry Built to Last

LendItUSA, the annual event that jumps between New York City and San Francisco everu 12 months, opened up to larger audiences and an industry sector that endured a challenging year. The online lending sector received a two-punch assault in 2016; a battle that left the… Read More

The Stamina of Rocky Balboa: Prosper President Ron Suber Updates on Marketplace Lending Industry (Video)

Ron Suber, the President of Prosper and a perennial keynote speaker at the annual LendIt conference, delivered a rousing update on the status of marketplace lending.  Directly addressing the challenges that impacted all online lenders in the past year, Suber stated; “Success this past year required… Read More

Big News for Prosper: Marketplace Lender Signs Agreement for $5 Billion in Loan Purchases from Consortium of Investors

Prosper Marketplace, one of the leading online lenders in the US, has signed an agreement with a group of institutional investors to purchase up to $5 billion in loans over the next 24 months. The agreement alleviates a challenging situation that has been endured by… Read More

Change at Prosper as Online Lender Selects Usama Ashraf as New CFO

Formerly with USAA and CIT Group, Ashraf Will Manage Capital Markets and Finance Functions at Prosper Marketplace Prosper Marketplace has appointed Usama Ashraf as its new Chief Financial Officer. Ashraf will be overseeing the online lenders capital markets function, as well as all of the… Read More

LendingRobot Launches Robo Hedge Fund for Online Lending: We Have Wanted to do this for a Very Long Time

LendingRobot has officially launched their next big vertical: a Robo-Hedge Fund for alternative lending. Crowdfund Insider initially wrote about the forthcoming Robo-fund when we uncovered an SEC filing for a pooled investment vehicle last November. While the filing became public at that moment, the “LendingRobot… Read More

Mosaic Appoints Former Prosper Director Amir Friedman as VP of Bank Partnerships

Solar loan provider Mosaic announced on Wednesday it has appointed Amir Friedman as Vice President of Bank Partnerships. The lender revealed that in this newly created role, Friedman is set to oversee its whole loan sale program with banks, insurance companies, credit unions, and other financial institutions. Friedman… Read More

Prosper President Ron Suber: “Change is the Only Constant. Victory Goes to the Ones Who Change”

In the world of alternative finance, one US industry was probably happy to see 2016 end. Online lending, both marketplace lenders (née P2P lending) and balance sheet platforms, hit the proverbial brick wall during last year. Rumblings of a more challenging environment picked up in… Read More

Prosper Announces 2016 #MyProsperStory Contest Winners

On Thursday, marketplace lending platform Prosper announced the winners of the 2016 #MyProsperStory Contest, which was dedicated to individuals who have utilized their platform to regain control of their personal finances. As previously reported, participants of the contest simply emailed a photo with a brief explanation as… Read More

Even Financial Milestone: Surpasses $1.5 Billion in Loan Requests & Increases Online Loan Originations by 205%

On Tuesday, fintech firm Even Financial announced it increased loan originations by 205% quarter over quarter since the beginning of 2016. The company reported that, with more than $1.5 billion in loan requests, its platform has grown to serve over one million customers with its… Read More

Prosper’s Ron Suber Joins eOriginal Advisory Board

Ron Suber, president of online lender Prosper Marketplace, has joined the advisory board of eOriginal, Inc., a service for businesses that need to verify secure, legally compliant and enforceable electronic asset documentation. Suber, who has over 20 years of sales, marketing, and business development, will reportedly leverage… Read More

Prosper Names David Kimball New Chief Executive Officer

On Monday, online lender Prosper Marketplace announced its board of directors has named former CFO David Kimball as the new CEO after Aaron Vermut stepped down from the position. Vermut notably served as the CEO of Prosper since March 2014, and the platform reported that he would… Read More

Stop Stacking: ID Analytics & the Online Lending Industry Partner to Halt Borrowers Who Take Out Multiple Loans

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

Prosper Launches Annual #MyProsperStory Contest

Marketplace lending platform Prosper has launched their annual #MyProsperStory contest for individuals who have utilized their platform to regain control of their personal finances. All you have to do is email over a photo with a brief explanation as to how Prosper helped and you… Read More