Marketplace lending

Deals, trends and research in structured finance and asset-backed securities for the week of March 12-18

Worried initially that marketplace lenders might falter at the first stage of a crisis, the sector has weathered the COVID-19 storm and now projects to match 2019's record securitization deal volume.

The eight-year-old finance company closed on its fourth overall securitization, in what was its largest ABS bond issuance to date.

The online lender is looking to price its second securitization deal of 2021, following last week's closing of a pass-through notes offering via its master trust.

Deals, trends and research in structured finance and asset-backed securities for the week of Jan.7-14

Deals, trends and research in structured finance and asset-backed securities for the week of Dec. 18-23

The online lender, which raised $240 million, wants to take its artificial intelligence technology for evaluating borrowers to the next level and expand its partnerships with banks, its CEO says.

Pagaya Investments, which purchases loans from MPL platforms using AI-driven technology, is sponsoring a $423.9 million transaction, according to a ratings agency presale report.

Deals, trends and research in structured finance and asset-backed securities for the week of Oct. 2-8

The San Francisco fintech, which is buying Radius Bancorp, will discontinue peer-to-peer lending and instead offer new products, like high-yield savings accounts, to its retail investors.

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 25-Oct. 1

Deals, trends and research in structured finance and asset-backed securities for the week of Sept. 11-17

Liberty Lending, Upstart Network and Regional Management Corp. are looking to price bonds backed by pools of unsecured consumer loans, amid market worries about the sectors' potential challenges during the COVID-19 outbreak.

The ratings agency reports that the MPL industry might reckon with a potential spike in defaults as borrowers are rolled out of two- and three-month COVID-19 hardship programs.

Fintech lenders that reported a surge in missed payments at the start of the pandemic have seen credit quality rebound substantially since. But credit performance could still deteriorate if high unemployment persists and Congress fails to enact more relief measures.

The former SoFi chief’s latest startup, Figure, has created what it says is a transparent marketplace for buying and selling assets. Some banks have embraced the technology, but other blockchain projects have stalled because lenders don't want rivals to see their data.

American Express isn't acquiring any loans in its deal for the online small-business lender. Here's what it is getting.

San Francisco-based Theorem is marketing its first-ever securitization of online, unsecured consumer loans culled from the LendingClub origination platform using machine-learning technology.

The Conference of State Bank Supervisors, banking law scholars and consumer advocacy organizations filed amicus briefs siding with the New York State Department of Financial Services in its court battle with the federal regulator.

But several still remain on watch for potential downgrades as the ratings agency assesses the near-term impact on marketplace lenders as federal support for consumers could be nearing an end.