Peer to Peer Lending News Roundup – November 2, 2013

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.

Big banks muscle in on peer-to-peer lending from Financial Times (free registration required) – A detailed look at the movement towards institutional investment in the US p2p lending market.

Credit Analytics – Repeat Borrowers on Prosper from Orchard – I have long been a fan of repeat borrowers on Prosper as long as they had a perfect payment history.

Hedge Fund Marshall Wace Invests in Peer-to-Peer Lender from Bloomberg – Exchange Associates Ltd will soon launch the first publicly listed closed end fund in the UK dedicated to p2p lending.

Financial innovation is back with a vengeance from Spontaneous Finance – This analyst argues that securitization is a necessary evolution of the p2p lending industry.

Rocket Internet is getting ready to launch peer-to-peer lending platform “Lendico” from Venture Village – Looks like Germany will be getting a new entrant in their fledgling p2p lending industry.

Prosper Reports $50 Million in Loan Originations in October (press release) – The official word from Prosper on their record breaking month.

How Risky Is Peer-to-Peer Lending? from Bloomberg TV (video) – Interview with Renaud Laplanche of Lending Club touching on Larry Summers, the government shutdown and more.

Peer to Peer Lending November Meetup – San Francisco – The next p2p lending Meetup will be held at Lending Club’s offices (in their new Grace Period Cafe on the 11th floor) on November 12th. And it is free.

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.

Increased Rates for 60 Month Loans – For 60 month loans at Lending Club there used to be a 3-5% interest rate premium over 36-month loans. But recently that premium has increased on some loans.

Numerous identical notes for sale on Folio – Some investors buy multiple $25 notes of the same loan and then put them all up for sale on Folio.

Cancelled notes: any analysis on those – What percentage of loans get canceled at Lending Club before they issue? Be sure to scroll down for the answer from AnilG.

  • 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.