The New Face of Marketplace Lending Isn’t So New

I wish I had a quarter for everytime I’ve heard that Marketplace Lending/Peer to Peer Lending specifically, and FinTech generally are a revolution to the world of finance. Revolutions need leaders. Who would Martin Luther King have been able to look up to for examples of peaceful, effective, non-violent civil disobedience if there was no … Read more

Should Retail Investors Care About Madden v Midland Funding case?

Madden v Midland Funding Some of you may have heard about this case and that it may/might/could/is already affecting marketplace lenders. Miss Madden had a Bank of America credit card and defaulted on her payments. Midland Funding is a debt buyer and collection agency based in San Diego. Midland bought the debt of Miss Madden, … Read more

The Fitch P2P Lending Report: 5 Things They Got Right and 3 Things They Got Wrong

The Fitch ratings agency, who along with Standard & Poor’s are the 2 largest US based ratings agencies just released their first report on Peer to Peer Lending. While the report is based on the lending platforms themselves, you can’t have a report on the platforms without examining the industry in which they operate. This … Read more

Prosper President Ron Suber’s LendIt 2014 Presentation

Ron Suber, president of Prosper, gave a great presentation at LendIt and here it is for you, with his permission.   Here is a link to the URL to see it on Prezi: http://prezi.com/fx851yj47b_i/from-disruption-to-revolution/?utm_campaign=share&utm_medium=copy#   It’s a very good look not at Prosper, but at the state of our industry especially as it pertains to … Read more

Prosper Gets $70 Million in New Funding

While I am disappointed that I could not make it to the LendIt Conference this year, there is some great news to report from there. According to PE Hub, and confirmed by Prosper President Ron Suber, Prosper has gotten some additional funding of $70 million.  The press release from PE Hub is right here. http://www.pehub.com/2014/05/peer-to-peer-lending-site-propser-bulks-up-with-70-mln-round/ … Read more

Prosper Has Another Great Month. So Where Are the Loans?

According to the excellent data site LendStats, Prosper had it’s 3rd best month of originations in its history, totaling $61 million in new loans in April.  This is great news for their platform, but where are the loans?  Here’s a look at the trend of monthly originations at Prosper, courtesy of LendStats   The trend … Read more