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Marketplace Lending News Roundup – November 5

During the week I share the latest marketplace lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

The Battle Begins: Banks Take On Online Lending Rivals from American Banker – Banks are certainly becoming more active in online lending this year.

PeerIQ Monthly Update: October 2016 from PeerIQ – The latest PeerIQ newsletter says in 2017 they expect 47% growth in ABS issuance for marketplace lending.

Banks have CX work to do – Protiviti survey from BanklessTimes – Commentary on a recent consumer banking survey. The results are better for banks than I expected.

Give thanks for passive P2P investors from Financial Times – In the UK Kadhim Shubber comments on the new Funding Circle UK interest rates.

Lend Academy Founder Peter Renton On Peer-To-Peer Lending After The Industry’s Troubled Year from Forbes – My interview with Laura Shin of Forbes on the state of marketplace lending today and a review of 2016.

Mad Money Host Jim Cramer Talks Lending with Earnest from Earnest – The CEO of Earnest on Jim Cramer’s Mad Money on CNBC talking underwriting and what makes his company different.

First personal peer-to-peer lender set to launch in Ireland from The Irish Times – There is a new consumer p2p lending platform launching in Ireland.

New referral scheme gives P2P lenders access to more borrowers from Peer2Peer Finance News – In the UK the mandatory bank referral scheme has finally launched.

Venture Capitalists Get Radical and Invest in a…Bank from The Wall Street Journal – Cross River Bank has just raised $28M from Silicon Valley VCs: a16z, Battery Ventures and Ribbit Capital.

The numbers behind Zopa’s interest rate cuts from AltFi – Ryan Weeks digs in to the Zopa loan book and reveals why average rates have gone up despite a rate cut.

New SocietyOne investment fund pitches yield; targets ASX listing from Australian Financial Review – In Australia SocietyOne is taking the lead of many other platforms and starting a fund.

VPC Specialty Lending Investments Updates on Challenging Conditions from Crowdfund Insider – Leading marketplace lending investor Victory Park is moving away from whole loans to more balance sheet funding.

Funding Circle smashes its own UK monthly origination record from AltFi – Funding Circle UK has a monster month in October issuing £95M in new loans, a new UK record.

MyProsperStory 2016 Photo Contest Now Open for Entries! from Prosper – Prosper has launched their third annual photo contest for borrowers. Winner gets their loan paid off.

International P2P Lending Volumes October 2016 from P2P-Banking – The October European marketplace lending loan volumes are out with Funding Circle leading the way.

Fintech’s Struggling Lenders Want Your Help from The Wall Street Journal – New funds focused on marketplace lending have started up this year, I expect there will be many more.

SoFi, Fannie Mae Offer Cash-Out Refi for Student Loans from National Mortgage News – Interesting move by SoFi. Borrowers can now fold their student loan into a home loan.

RateSetter restructures provision fund, cancels wind down clause from AltFi News – In the UK Ratesetter is changing the terms of their provision fund.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

Portfolio Efficient Frontier – Investors discuss efficient frontier models of loan portfolios.

My Perception of the Advantages of Professionally Managed Funds – Forum members discuss the pros and cons of investing in a marketplace lending fund.

LC FICO vs Loan Grade – A forum member shares a chart of originations by FICO scores across loan grades.

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