In an interview on CNBC last week Goldman Sachs CEO Lloyd Blankfein shared some news about their consumer lending platform....
In an interview in American Banker, Meiler discusses Marlette’s culture which aims to keep employees informed of the company’s goals; their strategy includes quarterly all-hands meetings with the company’s 100 employees to share what the goals are for the next 90 days; Meiler also shares how the company shifted its focus to profits given the changing environment and how this resulted in $11 million in GAAP profits last year. Source
In the United States, almost all marketplace lenders use a partner bank. It adds to the operational efficiency of the...
Marlette today announced that they will be appointing Josh Tonderys (pictured above) as President. Marlette is an unsecured consumer lender which...
President Donald Trump is expected to ease regulatory burdens across the financial services industry; some marketplace lenders believe this could help to cause less friction; “We want to deliver a frictionless experience but there’s all this friction—hopefully this administration will be helpful,” said Marlette Funding CEO and Founder Jeffrey Meiler on a panel at LendIt USA 2017; the current market environment includes expectations for rising rates and less regulation which seems to be helping the outlook for a growing marketplace lending industry with opportunities across a range of categories including mortgage lending and business lending. Source
In this week’s PeerIQ Industry Update they cover the uncertainty from the recent Fed meeting about whether or not there...
This week’s PeerIQ Industry Update covered the strong job growth reported and the chances of a rate hike in March; Marcus made key hires in an effort to launch a credit card as it builds out their consumer banking businesses; Marlette completed its largest securitization for $464mn and saw the senior tranches of the deal rated AA by Kroll; PeerIQ also highlighted key points from testimony by Nat Hoopes of the Marketplace Lending Association when he testified before the House Financial Services Committee. Source.
In this week’s PeerIQ Industry Update they look at the record levels of consumer debt, some regulatory changes, new securitizations and give an update on recent hirings; consumer credit is now at an all time high surpassing $1tn, though per capita levels remain below peak; the Trump administration is looking to revise the Community Reinvestment Act rules to include small business loans; Marlette’s newest securitization, MFT 2018-1, consists of loans originated by Cross River bank for over $390mn and it has received ratings from Kroll; PeerIQ also announced the hiring of 6 new employees as the company continues to grow. Source.
In this week’s PeerIQ Industry Update they cover the recent strong month of jobs growth and the Fed’s decision to...
Both Marlette and LendingClub now have their own securitization platforms which has broadened their investor base; Sid Jajodia, chief investment officer at LendingClub spoke at the Structured Finance Industry Group’s conference in Las Vegas this week and discussed the importance of brining LendingClub’s loans in-house; he also spoke about their new whole-loan structured product announced in December as well as changes that might make sense for the company in the future; Karan Mehta, head of capital markets for Marlette discussed changes they are making to their whole-loan program. Source