Peer to Peer Lending News Roundup – August 16, 2014

During the week I share the latest p2p lending news on Twitter as it happens. Then every Saturday I take the most interesting news items and blog posts from the past week and share them here.

I have been in London this week doing some prep work for LendIt Europe so I have been a little more quiet than usual on the blog and Twitter. But I have been getting caught up this morning and there were many interesting articles this past week so you will have plenty of good stuff to read this weekend.

The Lending Model That Bypasses the Bankers from National Journal – Thoughtful article by The Atlantic writer William Cohan on the state of our industry. He raises an interesting possibility: “that the six largest credit-card issuers in the United States…have been acting like a cartel”. Read the article, it was the most interesting of the week in my opinion.

Small-Business Lender OnDeck Prepares to File for IPO from The Wall Street Journal – While everyone in this industry has been focused on the Lending Club IPO, OnDeck has been quietly preparing to go public.

The Price of Credit – Interest Rates Over Time from Orchard – Fascinating to see how the interest rates for Prosper and Lending Club have converged over time.

Peer-to-peer lending ‘here to stay’: Zopa CEO from CNBC (video) – Interview with Giles Andrews, CEO of Zopa, on the state of p2p lending in the UK.

LendingTree’s Personal Loan Revenue Exceeds $1 Million in July (press release) – LendingTree is a major source of borrowers for both Prosper and Lending Club.

Prosper Form 10-Q from the SEC – The quarterly financials from Prosper showed them basically at break-even in the second quarter on $16.5 million in revenue.

Lending Club Form 10-Q from the SEC – The quarterly financials from Lending Club showed them recording a loss of $9 million on revenue of $48 million.

Fitch Weighs in on Peer-to-Peer Lending from The Wall Street Journal – Coverage of the Fitch Ratings report that I wrote about yesterday.

Peer-to-Peer Lending Poised for More Growth: Fed from Credit Union Times – The credit union industry is paying close attention to p2p lending.

The National Rise of Peer to Peer Lending in the Newspaper from LendingMemo – Interesting research from Simon Cunningham about the coverage of p2p lending in major news publications.

What happens when a P2P company ceases trading? from P2P Money UK – P2P lending in the UK has seen a couple of platforms go out of business – this article discusses what happens to the investor money.

Peer-to-peer lending represents nearly $3 trillion market from Allvoices – Lending Club and Prosper shared a panel this week at the LeadsCon conference discussing borrower lead generation.

From the Lend Academy Forum

The Lend Academy forum is where investors go to discuss p2p lending. Below are some topics that were being discussed this week.

Payment Breakdown – How do you separate out the principal or interest of borrower payments at Lending Club.

I am confused about trading – A new note traders wonders why so many notes are on offer for a premium.

P2P picks with recent Major Derogatory or Delinquent Amount – Interesting to see the statistical analysis done by P2P Picks sometimes picks up accounts with delinquencies.

  • Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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