Crowdfunding site GoFundMe saw a 60 percent rise in campaigns over a four day period from March 20 to March...
AI-Powered consumer lender Upstart closes a new equity round and announces three new partners for their “Powered by Upstart” SaaS...
Harit Talwar discussed the new Goldman Sachs online lending platform, Marcus, and six ways the company is striving for a competitive edge in the market at LendIt USA; one of the platform's top marketing initiatives is direct mail marketing which Talwar say consumers are highly responsive to; the firm is also not charging any fees, allowing for one deferred payment and staffing its call center with human agents. Source
Orchard reports on the diversity of business lending, breaking lending down by industry and state using data from Orchard; reports that they have the most data on retail trade followed by health care and social assistance, and construction; shares the concentration of lending of several industries by state. Source
The US marketplace lending industry has matured with a number of self-regulating industry associations however the evolution of the industry and its integration into mainstream financial services has brought about increased regulatory attention which was one prominent topic for discussion at LendIt USA; HousingWire details the keynote speeches from Thomas Curry and Patrick McHenry also discussing insight from Amias Gerety; Richard Cordray from the Consumer Financial Protection Bureau was also a featured keynote speaker discussing government regulatory efforts pertaining to the industry. Source
SoFi has received preliminary ratings from Kroll Bond Rating Agency for a securitization portfolio including prime jumbo residential mortgage loans; the securitization includes 36 classes with 270 mortgage loans; 31 classes are rated AAA; the remaining classes are rated AA to B with one unrated class accounting for $1 million of the portfolio; the portfolio includes high quality mortgage loans with a comprehensive weighted average credit score of 777; the total principal balance of the portfolio is $168,790,946. Source
AlphaFlow is an investment platform for real estate that allows investors to easily build a diversified portfolio; Sturm shares what platforms they are working with, their due diligence process, the types of loans they invest in, how they’re planning to work with offline hard money lenders and more. Source
A group of 37 community groups sent a joint letter to the FDIC opposing the ILC application for the fintech...
SoFi Money is one of the latest offerings in the digital banking space; SoFi is able to offer this checking/savings...
Overstock.com has launched a robo advising investor platform that will be presented by tZERO Advisors; investors can choose from a group of portfolios or create their own for $9.95 a month; tZERO Advisors uses FusionIQ’s investment platform which allows for the online investing; “This service introduces robo-advising investment management services to our millions of customers and continues Overstock’s commitment to bridging Wall Street and e-commerce,” shared Overstock founder and CEO Patrick Byrne to Crowdfund Insider. Source.