Figure has announced the commitment of a $1 billion uncommitted asset based financing facility on their Provenance blockchain; the funding...
Fitch Ratings has upgraded its ratings for the Citi Held for Asset Issuance 2016-PM1 (CHAI 2016-PM1) portfolio which includes loans originated from the Prosper platform; the ratings agency upgraded the Class A, B and C tranches; it attributes the upgrades to growth in hard credit enhancement available to the notes. Source
With Figure in the news this week completing their first securitization using blockchain we thought it would be interesting to...
Funding Circle is considering more securitization deals with demand currently high for asset-backed securities with marketplace loans; Funding Circle was the first to securitize its loans in the UK with its £130 million securitization deal in April 2016; Samir Desai of Funding Circle says the firm has plans to do more securitizations in the near-term. Source
Mike Cagney is one of the most successful fintech entrepreneurs with his founding of SoFi and now Figure; Cagney sat...
The $150 million securitization of HELOCs is being billed as the first transaction where all aspects were managed on the...
PeerIQ released its fourth quarter "Marketplace Lending Securitization Tracker" this week; marketplace lending accounted for $2.4 billion of the securitization market in the fourth quarter; data from the fourth quarter report shows securitization investments as an increasingly important source of capital for marketplace lending platforms; in 2016 70% of loans were invested in through securitizations. Source
Funding Circle’s latest securitization is their second securitization of US loans; The $252 million securitization (Small Business Lending Trust 2020-A...
Deutsche Bank has shared details of Funding Circle’s fourth securitization which will be their largest to date; it includes 3,030...
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