In this week’s PeerIQ Industry Update they cover the latest minutes from the FOMC meeting, the new NY Fed report on mortgage lending and Lending Club’s earnings report; the FOMC is on track to raise rates 3 times in 2018 and the new rates could affect ABS pricing; the NY Fed report on the role of technology on mortgage lending said fintech lenders are reducing processing times by 20 percent and default rates by 25 percent; Lending Club reported record revenue and a net loss, their stock dropped 18 percent on the news; PeerIQ also gives a report on their recent partnership with Cross River Bank. Source.
In this week’s PeerIQ Industry Update they cover the increasing likelihood of a recession as forecasts show a 33 percent...
These are the top 5 UK financial institutions ranked by the mobile banking features consumers value most Celsius Network Completes...
This week's PeerIQ industry update mentions SoFi's securitization deal, solar lender Mosaic's signal to the market of their first ABS deal and a detailed explanation about trigger breaches; SoFi has announced plans to issue a $477 million unsecured consumer loan securitization; the market was very happy to hear news from Mosaic as this is the first solar deal since early 2016, though the size of the deal has yet to be determined; the trigger breaches seen in MPL ABS deals have hurt the securitization market and caused the cost of capital to rise among lenders; PeerIQ breaks down the current deals that have breached and what it means for the overall MPL ABS market. Source
Highlights partnerships announced by Wells Fargo and Blend, and Walmart and Google Express; reports on economists' comments at the Jackson Hole Economic Policy Symposium discussing post-crisis market regulations and areas for further improvement; also mentions Jamie Dimon's annual letter and the role for third party risk infrastructure. Source
PeerIQ provides their perspective on the jobs report from last week which they believe pegs true unemployment in the 18-20%...
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.
The March MPL Loan Performance Monitor from PeerIQ discusses recent rate increases to riskier borrowers for both Lending Club and Prosper; PeerIQ described the rate increases at Prosper to be mild in comparison to Lending Club, additionally we should see more rate increases in 2017 as the Fed looks to raise rates a few times; the MPL Loan Performance Monitor also takes a look at delinquency and charge-off rates for 36 and 60 month products for both lenders. Source
This week’s PeerIQ Weekly Industry Update covers the Fed raising rates by 25 bps, Affirm’s big fundraising and securitization news; PNC announced their new lending pro cuts through their mobile wallet and anticipate it will outperform branch loans; Equifax completed their first Securitization, a $200mn deal backed by lender fee revenues; PeerIQ does a deep analysis on the Sharpe Ratio which helps to gauge risk-adjusted returns. Source.
In this week’s PeerIQ Industry Update they cover how the recession has ended almost as fast as it began with...