Tagged: provision fund

June 2, 2020 @ 7:55 am By Omar Faridi  |  

UK-based peer to peer (P2P) lender RateSetter recently revealed that fewer consumer borrowers are asking for more time to pay back their loans. RateSetter said that its loan performance is now consistent with what it had predicted or expected during April 2020 and it claims… Read More

May 30, 2020 @ 7:30 pm By Omar Faridi  |  

UK-based RateSetter, a peer to peer (P2P) lender, notes that its Provision Fund has been designed to assist investors with managing credit risk and to simplify the investment process. As explained by Jonathan Hodge, the chief operating officer at RateSetter, the Provision Fund aims to… Read More

April 8, 2020 @ 2:00 pm By Samantha Hurst  |  

UK-based peer-to-peer lender RateSetter announced on Tuesday it completed two sales of non-performing loans, with the combined proceeds of £4.65m added into the Provision Fund. According to RateSetter, the debt sale process started in December 2019 and the lender was not needing to reduce its… Read More

October 31, 2017 @ 7:43 am By JD Alois  |  

Singapore-based crowdfunding platform Crowd Genie has announced the launch of a provision fund entitled GenieShield. This new fund is geared towards providing investors better protection against delays and potential defaults in loan repayments. Crowd Genie reports the fund will be managed by a Singapore-registered Trust… Read More

July 20, 2017 @ 9:33 am By JD Alois  |  

RateSetter has been hit with a series of significant operational challenges as several large loans have struggled.  The widely reported series of events have culminated in approximately £48 million worth of loans being taken over by the P2P Lender. This amount would have  outstripped the… Read More

December 21, 2016 @ 6:41 am By JD Alois  |  

  RateSetter, a leading UK peer to peer lending platform, has completed the sale of £2.1 million of non-performing debt. RateSetter sold the assets t 1st Credit, a debt purchaser.  Exact terms of the transaction were not revealed but RateSetter said it was the first… Read More

January 6, 2015 @ 7:57 am By JD Alois  |  

Peer to peer lender RateSetter has commented on the closing of the Bank of England’s / Prudential Regulation (BOE & PRA) Authority consultation paper which was opened for comments this past October.  The consultation paper delineates proposed changes in order to implement the Deposit Guarantee… Read More