Weekly Industry Update: Risk Retention Rules
By Vy Phan
December 26, 2016
Conferences:
- SFIG Vegas on February 26-March 1.
- LendIt on March 6-7 in New York.
PeerIQ in the News:
- Monday December 19th 2016, Daily News Digest (LendingTimes, 12/19/16)
- Marketplace Lending News Roundup – December 24 (LendingTimes, 12/24/16)
Industry Update:
-
Notice of PMI7 / TransUnion Migration, Rated: AAA (LendingTimes, 12/22/16)
- Surging Dollar Upends China’s Huge Bond Market (WSJ, 12/16/16) China’s bond markets impacted by recent Fed rate increases.
- The New Intersection of Banks and Marketplace Lending (LendAcademy, 12/21/16) Peter Renton argues that lines continue to blur lines between traditional banks and marketplace lenders, and institutional capital is key for mass adoption.
- U.S. Sues Barclays Over Toxic Mortgage-Backed Securities (WSJ, 12/22/16) US DOJ files suit against Barclays for pre-crisis practices.
- Avant Restarts Growth Engine with Planned 2017 Credit Card Launch (Crain’s, 12/20/16) In a pivot to growth, Avant has plans to launch a credit card in July.
- What Happens When You Roll an Online Lender, a Robo-Adviser, and Bitcoin into One? (WSJ, 12/23/16) LendingRobot is launching a new credit fund.
- A Whole Lot of Hurt in Auto Lending May Be Coming (AmericanBanker, 12/23/16) Recent RMBS litigation has exposed vulnerabilities in the origination and securitization process.
- Argon Credit Files for Chapter 11 Bankruptcy (Lending-Times, 12/20/16) Argon bankruptcy may have been triggered by a spike in defaults due to the transfer of the servicing function to a 3rd party.
- SoFi Pushes Back IPO Plans Amid Financial Tech Sector Struggles (Bloomberg, 12/19/16) SoFi i is delaying plans for an IPO in order to focus on developing new business lines.
- CMHC Ends 30-Year Monopoly of the Custody of Mortgage Records in Canada (Financial Post, 12/19/16) Canada Mortgage and Housing Corp. has broken up a 30-year monopoly related to the custody of mortgage records in the country, potentially opening up the multi-billion dollar securitization business to others.
Lighter Fare:
- New York City's Tech Community Is Getting A $250 Million Home Base At Union Square (FastCompany, 12/21/16) New economic development planned to open in 2020 in NYC will be a central hub for technology and innovation.