Tagged: securitization

October 31, 2017 @ 9:23 am By JD Alois  |  

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

October 27, 2017 @ 8:17 am By JD Alois  |  

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

October 16, 2017 @ 9:50 am By Samantha Hurst  |  

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

September 28, 2017 @ 4:22 pm By JD Alois  |  

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

September 18, 2017 @ 11:22 am By Samantha Hurst  |  

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

August 14, 2017 @ 1:49 pm By JD Alois  |  

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

July 7, 2017 @ 11:23 am By JD Alois  |  

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

June 22, 2017 @ 6:09 pm By JD Alois  |  

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

June 12, 2017 @ 2:13 pm By JD Alois  |  

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

May 25, 2017 @ 3:50 pm By JD Alois  |  

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

May 22, 2017 @ 9:19 pm By JD Alois  |  

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

May 17, 2017 @ 3:47 pm By JD Alois  |  

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

April 3, 2017 @ 11:46 am By JD Alois  |  

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

March 8, 2017 @ 12:12 pm By Samantha Hurst  |  

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

February 24, 2017 @ 7:55 am By Samantha Hurst  |  

Earlier this week, fintech analytics platform, dv01, announced the launch of its Securitization Explorer, a new web portal dedicated to providing investors with increased insights into securitizations of consumer loans. According to dv01, with the launch of Securitization Explorer, it plans to leverage data, analytical, and… Read More

February 14, 2017 @ 6:23 am By JD Alois  |  

Mosaic, a US provider of solar loans for homeowners, has completed their first securitization of solar loans. The Mosaic Solar Loans 2017-1 transaction (“MSAIC 2017-1”) resulted in proceeds of $138.95 million and received a “Green Bond” designation based on the standards published by the International… Read More

February 13, 2017 @ 10:18 pm By JD Alois  |  

In the online lending world, there are a handful of people that know everything that is going on. From the good to the not so good, their vantage point is unique. Ram Ahluwalia, CEO and co-founder of PeerIQ, is one of these individuals. Ahluwalia launched PeerIQ in… Read More

October 20, 2016 @ 1:00 pm By JD Alois  |  

CommonBond’s 3rd Securitization CommonBond has closed securitization of $168 million in refinanced student loans. The online lending platform reported a rating of ‘A1’ from Moody’s and ‘AA (low)’ from DBRS. The securitization was backed by $178 million in collateral. Goldman Sachs served as joint-lead managers and bookrunners… Read More

April 30, 2016 @ 2:36 pm By JD Alois  |  

The European Investment Fund, which is part of the European Investment Bank, along with KfW, a German government supported bank, have jointly invested in securitized loans from peer to peer lending platform Funding Circle.  The initiative is part of a broader objective of supporting SME… Read More

April 28, 2016 @ 3:17 pm By Samantha Hurst  |  

OnDeck (NYSE: ONDK), an online lending platform for SMEs, announced this week it has priced $250 million initial principal amount of Series 2016-1 Fixed Rate Asset-Backed Notes in a private asset-backed securitization transaction. The lending portal stated that the Notes will be issued in two classes that will consist of… Read More