-
Marketplace lending platforms like Lending Club still need banks to make the loans. Cross River Bank CEO Gilles Gade, who has deals with 14 platforms and has talked with dozens of others, explains the mechanics of these agreements in a Q&A.
February 24 -
Marketplace lenders are seizing on current investor enthusiasm after the December public listing of LendingClub. SoFi and Funding Circle have set new origination targets, and new capital markets deals may help replace bank credit lines for Blue Elephant Capital Management and perhaps others.
January 28 -
Blue Elephant Capital Management is planning a second fund to buy loans originated on online marketplaces. Unlike its first fund, this one will be unlevered, backed entirely by institutional investors' cash.
December 3
CommonBond, a marketplace lender specializing in private student loans, announced its first securitization Wednesday.
The New York company expects the deal to include approximately $100 million in graduate-student loans, and to receive an investment-grade rating of "Baa2" from Moody's, it said in a news release.
CommonBond expects purchasers of the bonds to include banks, insurance companies and asset managers.
As the marketplace loan industry has evolved from its peer-to-peer roots, securitization has become a more popular financing tool.
Social Finance, which competes against CommonBond in private student lending, has completed four securitizations and is expected to close soon on
[Coming this November:
