Marketplace lending

The court decision regarding the “valid when made” doctrine moved us further away from creating a more effective and inclusive financial system.

The prime consumer loans backing the $330M CLUB Credit Trust 2017-P2 transaction include a greater percentage of higher-FICO borrowers.

The British banking giant has been testing its new online lending platform with a handful of its U.S. customers and plans to roll it out in full force next year. It's all part of a broader effort to expand its U.S. consumer business beyond credit cards.

Fed researchers purported to show that consumers who use peer-to-peer loans have bad financial outcomes, but questions quickly emerged about the data they used.

Consumers who have borrowed from online lenders owe more and have lower credit scores than similarly situated consumers who have not used online lenders, according to a study released Thursday by the Cleveland Fed. The provocative findings seem likely to spark intense debate.

Four tranches of rated notes totaling $591 million were issued, resulting in an advance rate of 92% vs 88% for the previous deal; pricing also improved.

The San Francisco firm is the latest U.S. lender to tighten credit standards amid concerns that consumers are shouldering too much debt.

The San Francisco-based lender still posted losses in its portfolio, although those declined considerably from the year-ago period.

Amid the rise of online lending earlier this decade, banks were derided as being too slow to adapt. But over time it's become clear that banks hold key advantages over lending startups.

British regulators are touting the success of their so-called regulatory sandbox. Their American counterparts have been unable to agree on a comprehensive scheme to foster innovation.

Fitch and KBRA have slightly lower estimates for cumulative net losses for 2017-3, allowing the marketplace lender to offer slightly lower credit enhancement on the senior notes; concerns remain about poorly performing legacy loans.

Fintech and marketplace lender LendingHome is getting more than $450 million in investment and funding from different channels to help support mortgage production growth and technology improvements.

Acting Comptroller of the Currency Keith Noreika on Monday gave a ringing endorsement to online lenders seeking to expand into banking, suggesting they should consider taking deposits and seek out national bank charters as they mature.

For the first time, the marketplace lender is using its own balance sheet: It's contributing 27.66% of the collateral. The rest comes from three third-party investors.

The online consumer lender reported a net loss of $25.4 million, bringing its red ink in the five most recent quarterly reports to more than $200 million.

A new loan origination platform uses predictive scoring allowing Prosper to expand its risk appetite to more sub-700 FICO borrowers

While some policymakers are open to accommodating fintech companies with looser oversight compared with banks, the New York State superintendent is unapologetic about her tough approach.

The addition of Sean Glithero as CFO is one of several new hires by the online small-business lender.

The move comes at a time when both Prosper and the broader industry it helped to pioneer are struggling.

Sponsoring securitizations of the loans funded on its platform will give LendingClub more control over its reputation in the market and make it less beholden to direct loan buyers.