Marlette recently closed a $225 million Series E equity raise led by the Healthcare of Ontario Pension Plan.
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 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
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.
There have been several groups formed in the online lending industry but the latest one doesn’t focus on a voice...
In the United States, almost all marketplace lenders use a partner bank. It adds to the operational efficiency of the...
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
In this week’s PeerIQ Industry Update they cover the recent strong month of jobs growth and the Fed’s decision to...
You could be forgiven for never having heard of Marlette Funding. They have only been in business for just over...
In an interview on CNBC last week Goldman Sachs CEO Lloyd Blankfein shared some news about their consumer lending platform....