Tagged: securitization

College Ave Student Loans Announces Completion of Second Successful Securitization

Student loan marketplace, College Ave Student Loans, announced on Tuesday it has completed a $199 million securitization of private student loans, its second successful securitization. According to the platform, the CASL 2018-A transaction completed over the summer, achieved higher ratings than College Ave’s inaugural securitization,… Read More

Online Lender CommonBond Issues 2nd AAA Rated Securitization

Online lender CommonBond has issued its second AAA rated securitization from Moody’s and DBRS. This is the largest securitization for CommonBond yet at $292 million of total collateral. This was the second securitization for 2018 and the 7th overall bringing the total to $1.5 billion…. Read More

White Label Loan Origination Platform INSIKT Secures $25 Million Social Bond Securitization

INSIKT (pronounced “in-seekt”), a Lending as a Service (LaaS) company, announced on Tuesday it has completed a $25 million social and securitization. The company has completed 15 private market securitization issuances for a total of $247 million. As previously reported, INSIKT was founded in 2012 by Progreso Financiero… Read More

Online Lending in Risk On Mode: Unprecedented 21 Months of Non Stop Securitization Issuance

PeerIQ has just published their quarterly marketplace lending securitization tracker. The periodic report gauges activity in the online lending sector providing an interesting barometer of industry sentiment and investor activity. The most recent report stated that PeerIQ has observed an “unprecedented 21 months of non-stop… Read More

Online Lender CommonBond Receives First AAA Rated Securitization

  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

Prosper Releases Third Quarter 2017 Results: Loan Originations Up 164% Year-Over-Year

On Monday, leading peer-to-peer lending platform for consumer loans, Prosper, reported growth in both transaction revenue and loan originations for the third quarter of 2017. The online lender claimed that the continued demand for personal loan product resulted in $822 million in loan originations through its… Read More

Fitch Upgrades Select Ratings, Outlook on Prosper Marketplace ABS

Fitch has moved to upgrade ratings that impact assets originated on the Prosper marketplace lending platform. According to the rating agency, Fitch taken the following rating actions on two Citi Held for Asset Issuance trusts, which are backed by marketplace loans: CIiti Held for Asset Issuance… Read More

Largest & Highest Rated: CommonBond Closes $248 Million Securitization

CommonBond, an online lender that helps students and graduates finance their loans, has closed a $248 million securitization of refinanced student loans. This is the largest and highest rated securitization for the Fintech to date. The offering’s most senior notes achieved AA ratings from Moody’s,… Read More

SoFi Completes $776.7 Million Loan Securitization

SoFi announced on Friday the closing of a $776.7 million offering of SoFi Professional Loan Program 2017-E notes, which has been dubbed the lending platform’s largest loan securitization. According to the online lender, SoFi 2017-E marks the company’s largest asset-backed securities issue to date and its 10th ABS… Read More

LendingClub Completes 2nd Self Sponsored Loan Securitization with $323 Million Deal

LendingClub (NYSE: LC) has sponsored and contributed to its second securitization deal following the the last successful self sponsored deal this past June. The “Consumer Loan Underlying Bond” (CLUB) Credit Trust 2017-P1 (CLUB 2017-P1) issued $323.1 million in prime notes backed by consumer loan assets originated via… Read More

dv01 Launches Cashflows for Securitizations

dv01, the data management, reporting, and analytics platform that offers institutional investors transparency and insight into lending markets, announced on Monday it is launching a cashflow engine for securitizations, with full waterfall and collateral model support. dv01’s cashflow engine is available for a library of… Read More

Prosper Progress: Online Lender Reports Strong Q2 Growth, Closes $500 Million Securitization

Prosper Marketplace, a leading marketplace lending platform, has reported improved numbers for the second quarter.  Prosper has shared that it generated positive operating cash flow for the quarter and originations rocketed up 74% year over year. Prosper said they experienced strong demand for its personal… Read More

Marlette Funding Closes $369 Million Securitization of Consumer Loans

Marlette Funding, LLC, an online consumer lending platform and service provider, has closed its third securitization from its proprietary “MFT” shelf. Marlette states that approximately $369 million of BestEgg unsecured personal loan collateral was financed via three classes of Notes and one class of Certificates with… Read More

LendingClub Closes $279.4 Million Self Sponsored Securitization

LendingClub (NYSE:LC) has announced its first first self sponsored securitization deal had closed. Announced after the market closed, Lending Club issued $279.4 million in notes backed by consumer loans originated on the LendingClub platform. The Consumer Loan Underlying Bond (CLUB) NP Credit Trust 2017-NP1 (CLUB… Read More

CommonBond Closes $231 Million Securitization of Student Loans

CommonBond is reporting they have closed a $231 million securitization of refinanced student loans. The online lender says the issuance received their highest ratings to date with Moody’s rating Aa3, DBRS at AA. The securitization was CommonBond’s fourth and largest and was said to be… Read More

Earnest Prices $175 Million Securitization Rated by DBRS

Online lender Earnest has closed $175 million in refinanced student loans. The offering received a AA rating on the senior notes by DBRS which is one notch below the highest attainable rating of AAA. Earnest said the transaction was oversubscribed by 3X and traded at… Read More

Earnest Not for Sale. Securitization is Moving Forward

Last week, Crowdfund Insider referenced a report in Bloomberg that Earnest was looking for buyers as it struggled to raise new funds. A company representative has now stated that Earnest is not looking to sell the company. The spokesperson said; “The securitization effort isn’t shelved…. 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

PeerIQ Updates on Marketplace Lending Securitization: $2.9 Billion in Q1

PeerIQ is reporting on the Q1 2017 alternative lending markets and, according to their numbers, marketplace lending securitization is a “bright spot” in the ABS market with total issuance topping $2.9 billion this quarter. PeerIQ says that deal sizes continue to grow and all deals… Read More

Online Lending Platform Kabbage Announces $525 Million Securitization Transaction For New Facility to Enable Expansion of Large Business Products

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Online lending platform Kabbage announced on Wednesday it priced $525 million of fixed-rate, asset-backed notes in a private securitization transaction for a facility that will enable expansion of large business products. The company stated that the facility is expandable to $1.5 billion and the notes will… Read More

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