SoFi has securitized another portfolio which was priced on February 2; Moody's provided ratings ranging from Aaa to Baa2 for the portfolio; the portfolio includes private student loans from SoFi; the value of rated loans was $561 million. Source
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securitization
Securitization was a bright spot in online lending in 2016 with significant securitization growth; Ram Ahluwalia's firm PeerIQ provides data and analytics services to issuers, investors and originators; helps stakeholders price, value, exchange and structure risk in securitizations; Ram Ahluwalia talks about themes relating to securitization growth; year over year growth was 59% from 2015 to 2016 with over half of loans being funded via ABS; securitizations are also becoming increasingly rated by ratings agencies; originators have benefited by accessing lower cost of capital providers such as pension funds, banks and insurance companies; major online lending platforms have also launched their own branded securitization shelfs; Ahluwalia also speaks about the challenges of the securitization market and answers audience questions. Source
PeerIQ has released its fourth quarter "Marketplace Lending Securitization Tracker" with details on the marketplace lending securitization market; the chart below shows the marketplace lending securitization issuance for the top 10 originators; SoFi leads the list with $6.85 billion in securitized loans, followed by Prosper and Avant. Source
Lend Academy provides highlights from PeerIQ's Q1 2017 securitization market report in their article; total marketplace lending securitization issuance for the first quarter was $2.9 billion and all of the quarter's securitization deals were rated by a rating agency; SoFi leads the market in securitizations with nearly $9 billion representing 51% of the market's deal value. Source