Latest news
Latest news
Third deconsolidation RMBS from a UK challenger bank since November
Parliament’s draft amendments are kinder to the market than Commission's
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Residential Property Assessed Clean Energy (PACE) issuer Renovate America priced its fourth ABS transaction of 2016 at the end of last week, with industry participants saying that the coming year will put the asset class on track to broader acceptance within the ABS market. -
Cerberus Capital Management will push out another two transactions backed by legacy portfolio acquisitions by the end of the week, while Santander is lining up a full capital stack deal backed by UK auto loans as it targets significant risk transfer.
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Marketplace lenders last week cheered the Office of the Comptroller of the Currency’s (OCC) announcement that it would grant national bank charters to online lenders, with the hope that it could ease some state level headaches and provide flexibility for platforms beyond bank partnerships.
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In a conference speech last Thursday, Prosper president Ron Suber likened the marketplace lending and its use of different funding models to music streaming apps like Spotify and iTunes. But the marketplace lending industry is still dependent on many of the same models that preceded it.
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The tight pricing of Jefferies’ first rated ABS backed by near-prime Lending Club loans points to investors’ heightened familiarity with the collateral and their willingness to participate based on credit quality rather than broader market headlines.
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Banco Santander has structured a €1bn Spanish consumer loan ABS deal for capital relief purposes, and is also selling the full capital stack in a new UK auto loan deal, as analysts predict risk transfer deals will become more attractive under tweaks to 'Basel IV' rules.
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Platform consolidation and diversification of funds were the dominant themes at IMN’s second annual Investors' Conference on Marketplace Lending in New York on Thursday, as the industry adapts to changes in both the macroeconomic and regulatory environments.
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Markets are obsessing about the Italian referendum on Sunday. Commentators are cramming everyone’s inboxes with warnings about how a 'no' vote on premier Matteo Renzi’s attempt to streamline Italy’s Senate could precipitate a fresh eurozone crisis and imperil Italy’s creaking banks.
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Industry players speaking at the IMN Investors' Conference on Marketplace Lending in New York on Thursday noted that marketplace lenders need to understand the importance of both diversifying sources of funding, and the cyclical nature of the capital markets.
