Post Tagged with: "online lending"

Lending Club Underwriting Questioned As Chargeoffs Climb

Lending Club Underwriting Questioned As Chargeoffs Climb

by July 12, 2016 at 12:11 pm 3 comments

Scandals aside, Lending Club has been doing well in the area that mattered — borrowers were paying back their loans. But a new report from the Wall Street Journal indicates that chargeoff rates at Lending Club are up 38% since 2013. This is troubling because credit card default rates decreased over theRead More

Hot Hashtag: #LendItUSA Lends Love to #SanFrancisco

Hot Hashtag: #LendItUSA Lends Love to #SanFrancisco

by April 12, 2016 at 11:34 am 0 comments

Last week Money 20/20 lent its fintech passion to #Copenhagen, whose reach surpassed a staggering 3.2 million in a three-day period, surpassing other fintech satellite cities #NewYork and #London, the latter of which barely broke one million during the same three-day period. This week we’re looking at a lending convention lendingRead More

Half of Investors Allocate Capital to Marketplace Lending, Survey Shows

Half of Investors Allocate Capital to Marketplace Lending, Survey Shows

by April 11, 2016 at 6:14 pm 1 comment

Investors see a sunny future for marketplace lending, according to a survey released today by Richards Kibbe & Orbe LLP (RKO) and Wharton Fintech. The results of the survey, titled 2016 Survey of U.S. Marketplace Lending, show that half of investors surveyed have capital allocated for marketplace lending. The year prior, just 29% had investments in the space. TheRead More

Is Online Lending Ignoring Big Data Risks?

Is Online Lending Ignoring Big Data Risks?

by March 28, 2016 at 10:41 am 0 comments

Elevate Credit Inc., which is pining to get to an IPO, today announced that it hired a new chief information officer. Joan Kuehl, who is the online lender’s first CIO, has extensive experience, having worked at Travelers and Bank of America — so it deserves notice when her first pronouncementsRead More

Blame Regulators for Loan to San Bernardino Shooter, Not Prosper or Citi

Blame Regulators for Loan to San Bernardino Shooter, Not Prosper or Citi

by December 14, 2015 at 10:50 am 0 comments

The tumult surrounding the $28,500 loan through Prosper to Syed Rizwan Farook, one of the shooters that killed 14 people, can only be called misguided. There’s also a streak of disingenuousness coming out of bank regulators that deserves to be called out. What is clear is that Farook, the husband inRead More

Coolest Brands 2015: Lending ClubPeerless

Coolest Brands 2015: Lending Club

Peerless

by March 15, 2015 at 5:56 pm 0 comments

Among peer-to-peer lenders, Lending Club has no peer. Renaud Laplanche launched Lending Club in 2006 when he noticed the disparity between the interest he was paid on his savings account and what he was charged on his credit card. His company, now publicly traded under the ticker symbol LC, offersRead More

MyLendingTree Gets a Final Polish

MyLendingTree Gets a Final Polish

by March 13, 2015 at 10:48 am 2 comments

MyLendingTree, LendingTree’s play to create an online home for a borrowers’ credit, has entered the final stages of development. Doug Lebda, the founder and chief executive of LendingTree, said the kinks would iron out of MyLendingTree within the next couple of months, finalizing an application that the company views as centralRead More

Loan Volume at Elevate, Alt-Subprime Startup, Hits $442 Million

Loan Volume at Elevate, Alt-Subprime Startup, Hits $442 Million

by February 10, 2015 at 12:30 pm 0 comments

Welcome to the newest innovation sector: alternative subprime lending. Fort Worth, Texas-based Elevate appears to be leading the charge in this new sector, announcing today that its total loan originations has hit $442 million. Elevate launched in 2014 and offers three products: RISE, a personal loan, Elastic, a paycheck advance, andRead More

VIDEO: Alternative Lenders Are So Hot Right Now

VIDEO: Alternative Lenders Are So Hot Right Now

by April 10, 2014 at 11:48 am 0 comments

If you need to borrow money, you picked a great time. New “alternative” –meaning nonbank — lenders are popping up every day. Within the past week, Kabbage, a small business lender, and SoFi, which helps refinance student loans, received large votes of votes of confidence from investors. More recently, person-to-personRead More