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Online Lending

·Apr. 26, 2017

LendKey Releases Student Loan Refinance Report

LendKey is a lending-as-a-service technology provider for banks and credit unions; the company has released a Student Loan Refinance Report discussing borrower trends at banks and credit unions; provides statistics on borrower demographics, lending preferences and loan performance; finds that the student loan refinance market is healthy and that borrowers are saving an average 2.2% in annual interest expense after refinancing. Source

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News Roundup Online Lending

·Apr. 26, 2017

Rising Rates a Factor to Consider for Student Loan Refinancing

A growing number of refinancing products have increased student loan refinancings in recent years; however in the current environment, borrowers may see less savings from refinancing; borrowers reported average rate refinancing reductions of 2.2% earlier this year and that number has been trending lower since 2014 when borrowers reported rate reductions of over 3%; in 2016 student loan refinancings accounted for over $200 million for institutions on the LendKey platform; that value and the business for alternative refinancing platforms is at risk of trending lower as rates rise and the benefits of refinancing decrease overall. Source

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News Roundup Online Lending Real Estate

·Apr. 26, 2017

Prime Meridian Capital Management on Marketplace Real Estate Lending

Marketplace lending has evolved from personal loans to numerous verticals; Prime Meridian Capital Management discusses real estate lending and investment opportunities it offers in comparison to other real estate products; provides examples of platforms including ShareStates, Patch of Land, Realty Mogul, LendingHome and Money360; gives details on loans and the investing process for real estate platforms. Source

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News Roundup Online Lending USA

·Apr. 26, 2017

Upgrade Opening an Office in Phoenix

Online lender Upgrade is opening an office in Phoenix; founded by former Lending Club CEO Renaud Laplanche, the firm launched in April with a fundraising of $60 million; the Phoenix office will be its first expansion from its San Francisco headquarters and the firm plans to hire 100 employees this year. Source

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Europe News Roundup Online Lending

·Apr. 26, 2017

P2P Lender Collateral Announces Mobile App

Collateral has announced plans to test a mobile app for borrowers and investors; the platform sees app development as a trend for the industry and will be one of the first platforms to offer a mobile app for both borrowers and investors; it also expects the mobile app to be a factor for managing competition with banks; Collateral is a secured personal property lender offering loans of GBP5,000 ($6,415) to more than GBP1 million ($1.3 million). Source

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News Roundup Online Lending USA

·Apr. 25, 2017

CommonBond Launches New Loan Products

CommondBond has expanded its loan offerings to include undergraduates; its products now include loans for undergraduate and graduate students, refinancing options for graduates and employer student loan benefits; its newly launched in-school loans have variable APRs starting at 2.87% and fixed APRs starting at 5.50%; they will also include a range of repayment options; in combination with the new loan offerings CommonBond will also partner with Pencils of Promise to support the educational funding of a child in need for every new loan funded on the platform; additionally, CommonBond has announced new online tools for comparing loans; the firm is also building out its employer student loan benefits product which involves integration with Gradible, which it acquired last year. Source

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Europe News Roundup Online Lending

·Apr. 25, 2017

Growth Street Reports 600 New Investors in Five Months

Growth Street has originated over $67.44 million since its launch in November 2016 with a new CEO and two new executive hires; the firm has now reported 600 new investors on the platform in the five months since its launch; Growth Street provides financing for UK SMEs; the short term financing options appear to be a factor attracting investors; the platform matches borrowers and lenders for 30 days and also allows investors to withdraw funds with notice of 30 days. Source

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News Roundup Online Lending USA

·Apr. 25, 2017

SmartBiz Loans Adds Five Star Bank to Its Network

Five Star Bank will join the technology ecosystem of SmartBiz Loans; as an SBA loan partner, Five Star Bank's loans will now be available as a loan financing option for small businesses seeking funding on the SmartBiz Loans platform; in addition to matching services, SmartBiz Loans also helps to support fast and efficient loan processing through its bank-enabling technology; the partnership will help increase the availability of loans for small businesses on the platform and also support new business development for Five Star Bank. Source

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News Roundup Online Lending USA

·Apr. 25, 2017

Kroll Assigns Ratings for Avant Loans Funding Trust 2017-A

Kroll Bond Rating Agency has assigned ratings for Avant's most recent securitization deal; the portfolio includes three tranches of consumer notes valued at $192.6 million; ratings for each of the three tranches are included in the chart above and range from A- to BB. Source

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News Roundup Online Lending USA

·Apr. 25, 2017

Lend Academy Article: The Five Key Elements for New Lending Club and Prosper Investors

Lend Academy provides a resource for new investors in Lending Club and Prosper; their article includes five basic principles for investing in the platforms; the five key elements for investing include: 1) diversify investments 2) expect defaults 3) keep cash balances low 4) automate investing and 5) avoid taxes by investing through an IRA. Source

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