dv01, a platform that connects online lenders and investors with data management, has expanded its reporting partnership with LendingClub, according to a release by the firm. dvo1 has previously provided reporting services for LendingClub securitizations but is says it now has secured its “role as loan data agent for all completed CLUB Certificate transactions.”
LendingClub has introduced an interesting “CLUB” product that allows qualified institutions to purchase and trade baskets of loans based off a CUSIP. These pass through securities are cleared by the Depository Trust & Clearing Corporation. LendingClub closed its first CLUB Certificate transaction in December 2017. dv01 will receive loan data directly from LendingClub, which it will normalize, validate, and roll up for monthly servicer reporting.
Perry Rahbar, founder and CEO of dv01, said they were excited to expand their partnership with LendingClub while bringing deeper transparency for investors:
“These deals have opened up the online lending ecosystem to a new segment of investors, and we’re looking forward to introducing them to an efficient, cost-effective, and streamlined reporting experience from start to finish.”
Valerie Kay, Chief Capital Officer of LendingClub, said their previous work with dvo1 has made it clear that investors value the deep analysis provided:
“The unique structure of these CLUB Certificate transactions appealed to a new investor audience, and we’re excited to offer these investors access to dv01’s reporting and analytics portal as part of their introduction to the online lending asset class.”
To date, dv01 has provided similar reporting services for several other online lenders, overseeing an aggregate collateral balance in excess of $40 billion.