Tagged: prosper

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 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 18, 2016 @ 1:17 pm By JD Alois  |  

Prosper Marketplace has updated investors on their estimated returns for the month of September. According to the online lender, returns are just above 7% – a slight drop of 14 bps from August. Prosper said this number was impacted by: a slightly lower percentage of… Read More

October 7, 2016 @ 11:29 am By JD Alois  |  

Leading marketplace lending platform Prosper has launched a new credit card services. Prosper’s “Credit Card Optimizer” is designed to aid consumers in managing their credit cards more effectively – stratght from their smartphones. Credit Card Optimizer seeks to save consumers money by solving common credit… Read More

October 5, 2016 @ 4:38 pm By JD Alois  |  

According to multiple reports, Prosper is shutting down secondary trading for it’s loans eliminating a liquidity path for retail investors. The justification was stated as lack of demand. Bloomberg reported that Sarah Cain, a Prosper spokesperson, explained the decision as one driven by utilization; “While… Read More

September 19, 2016 @ 9:34 am By JD Alois  |  

Prosper Marketplace has published their monthly loan report and for investors in the marketplace lending things are looking pretty good. Prosper states that the 2016 portfolio is on track to have the highest estimated return since 2013. This is alongside the highest average FICO to date…. Read More

September 15, 2016 @ 11:33 pm By Georgia Quinn  |  

  When I realized the 2016 AltFi Conference was at the posh Pierre Hotel on the corner of Central Park, it immediately gave me pause. I remembered 2007 and 2008 when certain mortgage-backed security investment conferences were held at such addresses. Also, is the storied… Read More

September 15, 2016 @ 9:09 am By JD Alois  |  

Ron Suber, President of Prosper Marketplace, presented at the Fall AltFi conference in Manhattan yesterday and delivered a keynote address on the status of marketplace lending. Now most industry observers know that  the online lending industry was hit with a one-two punch this year. As the economy… 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 18, 2016 @ 4:57 pm By JD Alois  |  

Marketplace lending platform Prosper filed their 10-Q this past week reporting on platform operations. As one would expect, operations took a dip in Q2 posting a $35.6 million loss for the quarter.  In the same quarter of 2015, Prosper lost $6.2 million. In the three… Read More

August 10, 2016 @ 11:55 am By JD Alois  |  

Back in May, Prosper started a monthly update on performance of loans on their marketplace lending platform. The added transparency is welcomed insight – especially for smaller investors. Today, Brad Pennington, CRO of Prosper, published the July 2016 performance report. He stated that expected returns… Read More

August 8, 2016 @ 12:13 pm By JD Alois  |  

Orchard Marketplace is a platform that is uniquely positioned at the intersection of institutional money and online lending. If you are a large investor you are using Orchard to manage and access loans on all marketplace lending platforms. This perspective means that Orchard can easily… Read More

August 4, 2016 @ 9:54 pm By Erin Hobey  |  

Seeking to spark demand for its consumer debts arranged online, Lending Club (NYSE:LC) is said to be in talks with Western Asset Management Co. to set up a fund to purchase as much as $1.5 billion of loans over time, reported Bloomberg. An unidentified person familiar… Read More

August 4, 2016 @ 2:44 pm By JD Alois  |  

Prosper, a leading marketplace lending platform, is in the midst of negotiating a huge $5 billion deal to purchase Prosper loans.  This is according to a post in WSJ.com. Buyers include some pretty prominent names like Soros Fund Management, Fortress Investment Group and Third Point…. Read More

July 31, 2016 @ 8:38 pm By JD Alois  |  

Earlier this month during a swing through Asia, Ron Suber, President of Prosper, visited the studios of CNBC from Hong Kong. Always on message, Suber explained the insatiable search for yield from all around the world in this historically low interest rate environment that is… Read More

July 25, 2016 @ 11:29 pm By JD Alois  |  

Bloomberg is reporting that Prosper is setting up the “Prosper Capital Consumer Credit Fund”. The private fund would ostensibly invest in loans originated on the Prosper platform. According to the report, managers would target stable returns of between 6% to 8% on a sustainable basis…. Read More

July 16, 2016 @ 8:50 am By JD Alois  |  

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

July 13, 2016 @ 9:15 pm By JD Alois  |  

  Do Online Lenders Benefit from Regulatory Arbitrage? Yesterday (July 12), the subcommittee on Financial Institutions and Consumer Credit (part of the House Financial Services Committee) hosted an educational hearing on Fintech and Marketplace Lending. The meeting saw the participation of several industry executives including… Read More

July 11, 2016 @ 8:30 am By JD Alois  |  

The House Financial Services Committee, Subcommittee on Financial Institutions and Consumer Credit, has scheduled a hearing on the marketplace lending sector of online lending.  Entitled, Examing the Opportunities and Challenges with Financial Technology (Fintech): The Development of Online Marketplace Lending,” the meeting will take place… Read More

June 24, 2016 @ 3:41 pm By Samantha Hurst  |  

This week, Prosper unveiled its very own guide to investing in marketplace lending. This news comes just days after announcing the launch of its new retail investor experience. The Prosper team revealed: “In today’s volatile economy, people are increasingly shying away from the stock market and seeking… Read More