by Vy Phan | Aug 28, 2016 | Blog
Last week saw the final registration and approval for River North Marketplace Lending Corp, a non-listed, closed-end, 1940 Act fund fully-dedicated to the marketplace lending sector. Registration docs can be found here. With a target offering size of $1 billion, the...
by Vy Phan | Aug 21, 2016 | Blog
Prosper announced Q2 earnings this week. We summarize key statistics below, and focus this week’s newsletter on the components of the Loan Purchase Agreement. Anatomy of a Loan Purchase Agreement Purchasing raw whole loans involves substantial legal and administrative...
by Vy Phan | Aug 14, 2016 | Blog
Last week LendingClub and OnDeck both held earnings calls for Q2 2016. LendingClub and OnDeck have sharply different business models. LendingClub operates as a marketplace platform with generally no credit risk on its balance sheet; OnDeck retains a significant...
by Vy Phan | Aug 7, 2016 | Blog
Large platforms and institutional investors looking to strike deals were the main theme this week. The deal activity is not surprising. Many platforms have tightened credit criteria, increased coupons, and offer securitization friendly reps and warranties. ABS...
by Vy Phan | Jul 25, 2016 | Blog
Last week saw a substantial uptick in issuance news in MPL ABS securitization space. Four deals, totaling more than $1 billion of bonds, were either priced or announced last week. SoFi and Marlette priced a student and consumer loan deal respectively. Both deals...
