PeerIQ's weekly update covers the recent partnership by Acorns and PayPal, household debt in the US and a new Bain survey that shows people are more willing to try fintech products; LendingClub filed its latest securitization deal for $330mn and Kroll upgraded all three classes of the Earnest EARN 2016-B deal; they also took a deep dive on TransUnions recently released fintech study. Source.
In their weekly update PeerIQ covers the Trump tax plan, the recent Transunion consumer lending report and marketplace lending securitization news; the Transunion report shows that fintech companies have originated 30 percent of unsecured consumer loans in 2016; Darien Rowayton Bank and SoFi filed securitization deals; PeerIQ also took a closer look at SoFi’s SCLP 2017-6 deal which was the largest on SoFi’s shelf so far. Source.
In PeerIQ’s weekly industry update they cover the IMF’s recent global growth forecast being raised and the recent securitization deals in online lending; while global growth is up the IMF also pointed out that a third of banks by assets might struggle to attain profitability; recent securitization deals from Marlette Funding and SoFi highlight a busy quarter in the sector; the newsletter also takes a deep dive into bank earnings for JP Morgan, Citi, Bank of America and Wells Fargo. Source.
PeerIQ has released their latest marketplace lending securitization report for the third quarter. Total issuance for the quarter was $2.6...
This week's PeerIQ update focused on news from the FOMC, a $50mn Prosper fundraise led by FinEx and highlights from ABS East; they also provide a recent update on securitization deals, trends in personal loan originations and a bank partnership between JP Morgan Chase and Bill.com. Source.
The report will be released on a quarterly basis going forward and will look to cover credit performance trends; highlights of the report include continued credit re-normalization across all major lending groups and consumer installment lenders are not anticipating an increase in loss rates; they also cover the shift in the competitive landscape where more banks are investing heavily in tech and that the US consumer is quite healthy right now. Source.
Leading home solar financed Mosaic has partnered with PeerIQ on latest securitization; Mosaic used the PeerIQ platform to allow potential ABS buyers to have insight into their complete set of loan-level data; the partnership will allow for more transparency, streamline diligence and execution. Source.
PeerIQ released their third quarter marketplace lending securitization report; total issuance for the quarter was $2.6 billion down from $3 billion in the last quarter; SoFi closed two consumer deals and one student deal; Lending Club and Prosper both issued one deal; College Avenue issued their first ever student loan securitization. Source
PeerIQ’s weekly update includes a look at recent testimony on capitol hill by Equifax and Janet Yellen’s remarks at an event on reducing regulatory burdens on smaller banks; they also take a deep dive into the recent Navient acquisition of Earnest and how the servicer stacks up to SoFi. Source.
The recent PeerIQ weekly newsletter discusses the departure of Mike Cagney from SoFi, the Goldman & Mosaic deal and provides an analysis of recent SoFi (SCLP 2017-5) and Lending Club (CLUB 2017-P1) securitizations. Source