Weekly Industry Update: Latest PeerIQ Loan Performance Monitor
By Vy Phan
June 4, 2017
Conferences:
- PeerIQ CEO, Ram Ahluwalia, will speak at SCI’s 3rd Annual Marketplace Lending Securitisation Seminar on June 22nd in NYC.
PeerIQ in the News:
Industry Update:
- Debt and (Not Much) Deleveraging (McKinsey, 2015) Third of McKinsey’s 3-part report on debt and deleveraging.
- Lending Club Blueprint Emerging (AB Alert, 6/2/17) Lending Club reveals plans to price a subprime loan securitization in which it would contribute collateral alongside other whole loan investors.
- Unemployment Rate Falls to 16-Year Low, But Hiring Slows (WSJ, 6/2/17) U.S. added 138,000 jobs in May as jobless rate falls to 4.3%.
- Wage Growth Widely Misunderstood (ECRI, 5/8/17) With a series of rate hikes that are expected to continue, and real wage growth back down around zero, the Fed has demonstrated a misunderstanding of what drives real wage growth.
- LSE to Buy Citigroup’s Analytics, Fixed-Income Index Operations for $685 Million (WSJ, 5/30/17) Yieldbook and related index products were sold.
- Elastic Line of Credit Surpasses $200 Million in Outstanding Loans (BusinessWire, 5/31/17) Elevate announced that its Elastic product has surpassed $200 Mn in total principal outstanding, with more than 120,000 open accounts.
- Victory Park Capital fund toughens fees, exits Funding Circle US loans (Altfi, 5/31/17) Victory Park Capital’s latest quarterly report for their UK UCIT fund features continued emphasis on balance sheet investments.
- Peer-to-Peer Lending Giant Zopa Confirms £32m Fundraise (Altfi, 6/1/17) Proceeds will go toward build-out the firm’s technology and product offering in preparation for the submission of its banking license application later this year.
- SoFi and JetBlue Help Customers Managing Student Loans Earn Reward Travel (PR Newswire, 5/30/17) SoFi is in a reward points deal–perhaps taking a cue from the successful playbook of American Express.
- Another Warning Sign Flashes for Subprime Auto Loans (Bloomberg, 5/31/17) Subprime auto losses continue to increase, potentially due to changes in payment priority and reduced recovery values on auto assets.
Lighter Fare:
- Mary Meeker’s 2017 Internet Trends Report: All the Slides, Plus Analysis (recode.net, 5/31/17) 355 slides and tons of information on gaming, healthcare, and internet growth.