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The student loan servicing infrastructure in the US is ripe for an overhaul. But the Department of Education’s (DoE) plan to outsource student loan servicing to big tech and big finance may not erase all of the existing problems.
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Securitization experts at IMN’s Marketplace Lending conference in New York last Friday said risk appetite and the trend of deepening capital stacks in marketplace loan ABS deal structures will grow in 2018 as the market matures.
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A former chief of staff at the Office of the Comptroller of the Currency this week hyped the growth of fintech and marketplace lending, but indicated that the industry now faces a different set of challenges as it matures.
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Lending Club closed a debut pass through security last Friday, a Consumer Loan Underlying Bond (CLUB) certificate, as the company looks to diversify funding and grow the investor base beyond its securitization program.
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Investors in US structured credit and leveraged finance are bracing themselves for bouts of volatility and growing idiosyncratic risk, as spreads grind to record tight levels while aggressive underwriting behaviour increases, writes David Bell. -
SoFi has entered the post-Thanksgiving pipeline with its sixth student loan refinancing transaction this year, in line with its plans to issue 12 securitizations in 2017.
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The leadership tussle at the Consumer Financial Protection Bureau (CFPB) threatens to muzzle the watchdog or even have it put down. Many in the securitization industry would welcome that, but this newspaper is not so keen to bid farewell to Main Street's best friend just yet.
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The long awaited student loan securitization from the UK Department for Education might be the closest structured finance investors get to being able to bet on the economic effects of the country's exit from the European Union.
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Lending Club has filed deal documents for a securitization backed by prime consumer loans after executives indicated this month that the company will issue two deals before year-end.
