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Topics - Fred

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1
General Prosper Discussion / Prosper CEO leaving the online lending company
« on: November 19, 2016, 12:45:10 PM »
Not sure if this has been published here or not, but here it is:


Prosper CEO leaving the online lending company
http://www.marketwatch.com/story/prosper-ceo-leaving-the-online-lending-company-2016-11-14


Online lender Prosper Marketplace Inc. said Monday that Chief Executive Aaron Vermut is leaving the company at the end of November.

David Kimball, Prosper’s finance chief, will take over as CEO on Dec. 1, the company said.

2
Just stumbled on this link earlier today.  Anyone has more details?



3
http://www.wsj.com/articles/lendingclub-talking-with-citigroup-about-loan-purchases-1464302078

Quote
LendingClub Corp. is in talks with Citigroup Inc. about the New York bank buying or providing financing for future loans made by the online platform, people familiar with the discussions said.

4
Off Topic / If you were to vote for US President today
« on: April 29, 2016, 03:23:13 AM »
If you were to vote for US President today, who would you vote for?

5
http://searchengineland.com/google-testing-adwords-loan-referral-program-with-lending-club-235232

Quote
Google phased out the AdWords Business Credit Card program on February 1, 2015. Google partnered with banks on the credit card program and launched it in the US and UK in 2012. It gave small businesses access to credit for their AdWords campaigns. The new Lending Club program could be the replacement option for that program if it works.

6
Exciting news today about P2P loans and securitization.

http://www.bloomberg.com/news/articles/2015-07-22/citigroup-said-to-plan-sale-of-bonds-backed-by-prosper-loans

Quote
Citigroup Inc. is marketing about $377 million of bonds backed by loans originated through Prosper Marketplace Inc. in the latest example of Wall Street helping to fuel the online-lending industry.

7
The good, the bad, and the ugly of regulations are slowing coming to P2P Lending industry.

Quote
“While still a small component of the total consumer and small business lending market, it is a rapidly developing and fast-growing sector that is changing the way consumers and small businesses secure credit,” Antonio Weiss, a senior Treasury official, wrote in a blog post on the agency’s website.

Still, despite the largely supportive tone of the Treasury’s statements, the department is also raising some pointed questions about the loosely regulated industry.

In its request for information released Thursday, the Treasury said its questions included how borrowers are assessed for creditworthiness and whether lenders should be required to have “skin in the game,” meaning they retain some of the risk in case of default.

http://www.nytimes.com/2015/07/17/business/dealbook/treasury-examines-whether-to-regulate-online-lenders.html

8
General Lending Club Discussion / LC for sale?
« on: July 08, 2015, 01:28:04 AM »
http://www.thestreet.com/story/13209677/3/for-lendingclub-a-sale-would-avoid-fight-with-wall-street-titans.html

Quote
Goldman Sachs, which served as underwriter on the IPO, was also retained to advise on a potential sale.


Good for us lenders-investors?

Who should buy LC?  JPMorgan Chase, Capital One, Morgan Stanley, Goldman?

9
Not sure what to make of this.
--
http://www.itbusinessnet.com/article/Lending-Club-and-Opportunity-Fund-Announce-Partnership-to-Grow-Responsible-Small-Business-Lending-3937685

Partnership announced at Clinton Global Initiative America (CGI America) meeting to provide millions in funding for small businesses in California.

Quote
This pilot program is intended to provide up to $10 million in loans to small businesses in underserved areas of California, helping an estimated 400 businesses create 1,000 jobs, based on historical impact data collected by Opportunity Fund.

10
Investors - LC / LC into car loans & mortgages
« on: April 02, 2015, 02:33:08 AM »
April fools' joke?  Can somebody confirm?

Quote
... we also plan to offer car loans, student loans, mortgages ... the entire suite of credit products.

http://www.forbes.com/sites/jeanbaptiste/2015/04/01/exclusive-interview-lending-club-ceo-plans-expansion-into-car-loans-mortgages/

11
Foliofn - LC / A December Whale in Folio?
« on: December 04, 2014, 05:53:14 PM »
It seems like there is a new whale in Folio who's been buying a lot of (my) notes since Monday.

Anybody else experienced something similar?

12
General Lending Club Discussion / Updated Statistics Page
« on: November 21, 2014, 11:14:08 AM »
Looks like LC updated their "Loan Statistics" page recently : https://www.lendingclub.com/info/demand-and-credit-profile.action

Among all the changes, I like this NAR-by-Vintage (and by Term and Grade) chart the most:


13
Quote
Capital One set aside $993 million for future losses, up 17 percent from a year earlier.
http://www.foxbusiness.com/markets/2014/10/16/loan-loss-provision-weighs-on-credit-card-company-capital-one-3q-profit-stock/

I often compare LC lenders as both competitors and in-the-same-business as credit card companies, so I found this article very relevant.  Some kind of a "leading indicator", perhaps?

I guess Capital One's future losses are related to the LC ANAR's "adjustment for estimated future losses on past due loans."

14
Investors - LC / Powered by force.com
« on: August 21, 2014, 03:55:48 AM »
Encountered an error when trying to visit: http://kb.lendingclub.com/investor/articles/Investor/

Looks like the Investor portion of LC KnowledgeBase is hosted in force.com, which is a part of salesforce.com.

Also, tmichels seems to be the person responsible for the site.  Anybody has interacted with him/her before?


15
Off Topic / The relative value of $100 (by states)
« on: August 19, 2014, 12:26:51 AM »
From http://taxfoundation.org/blog/real-value-100-each-state

Quote
A person who makes $40,000 a year after tax in Kentucky would need to have after-tax earnings of $53,000 in Washington, DC just in order to have an equal standard of living, let alone feel richer.

From a P2P perspective, perhaps it is also true that a $4000 loan in Kentucky is about the same as a $5300 loan in DC.

More details below.


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