·
[Editor’s note: This is a guest post from David Snitkof, Chief Product Officer & Co-Founder of Orchard Platform. Orchard Platform is...
Orchard has released its "Quarterly Industry Report" for the third quarter; origination volume was lower in the third quarter, down approximately 21% from the previous quarter and 50% from peak origination volume in the fourth quarter of 2015; the third quarter is the third consecutive quarter of decreased origination volume; charge-offs have also increased; average borrowing rate has decreased 79 basis points from the previous quarter. Source
Orchard discusses the November 4 week's industry activities, highlighting banks' increasing interest in online lending and fintech in its weekly snapshot; the Orchard Index, which measures aggregate US P2P/MPL consumer loan performance, reported a monthly gain of 0.24%; Yirendai led gains in publicly traded companies with a monthly return of 11.29%; Ranger Direct Lending continued to lead gains in UK publicly traded funds with a monthly gain of 6.65%; the snapshot features Earnest's recently transacted securitization and reports the most recent securitization transacted by Lendmark Funding Trust. Source
In Orchard's Weekly Online Lending Snapshot they provide some insight on the Marketplace Lending and Alternative Financing Summit, noting industry performance and data transparency as key themes; data points show gains from publicly traded companies in the industry led by LendingTree with a monthly gain of 19.93% and Square with a monthly gain of 16.17%; in the UK listed marketplace lending funds Ranger Direct Lending led monthly returns with a gain of 24%; the US listed River North Marketplace Lending Fund reported a monthly gain of 0.59%; the LendingClub Issuance Trust LCIT-2016-NP2 was listed as the most recent securitization issuance with a pricing date of December 1. Source
Orchard reports on the diversity of business lending, breaking lending down by industry and state using data from Orchard; reports that they have the most data on retail trade followed by health care and social assistance, and construction; shares the concentration of lending of several industries by state. Source
Orchard has been working for a long time on their new platform called Orchard Deals; the platform has been redesigned from the ground up and boasts more than just a secondary market; features include deal listings, capital management, advanced analytics, data services and news & insights; Peter Renton from Lend Academy spoke with Orchard CEO Matt Burton and outlines what’s new in the blog post. Source
Orchard provides insight on monthly trends in P2P lending originations; uses Lending Club's publicly available standard program data for the analysis; finds October has historically been the peak month for P2P loan originations; identifies loan purpose trends for 2015 with debt consolidation notably highest in January; categories with peak lending originations in December in 2015 included major purchase, other and small business. Source
In a Q & A with Forbes, Matt Burton, CEO of Orchard discusses the early days of marketplace lending and how Orchard came to be; the company has raised $45 million and has institutional investors across the globe who utilize the platform; Burton also talks about their focus on the secondary market and what upcoming startups he thinks are interesting. Source