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Aircraft caught up in bankruptcies are likely grounded for months
New law expected to accelerate the dominance of professional landlords
Blackstone-owned business deal's subscriptions hit 9 times
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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. -
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.
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Antonio Weiss, counsellor to the secretary of the US Treasury Department, told marketplace lending participants in a Thursday conference keynote speech that highlighting regulatory gaps in borrower protection and issues around underwriting data were areas of focus for regulators.
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A deal backed by near-prime Lending Club loans issued by Jefferies will be a test for the state of the marketplace lending industry after a wave of reported losses on some outstanding deals.
