Tagged: securitization

European Investment Fund & KfW Invest in Securitized P2P Loans

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The European Investment Fund, which is part of the European Investment Bank, along with KfW, a German government supported bank, have jointly invested in securitized loans from peer to peer lending platform Funding Circle.  The initiative is part of a broader objective of supporting SME… Read More

OnDeck Prices New Fixed Rate Notes in a Securitization Transaction

OnDeck (NYSE: ONDK), an online lending platform for SMEs, announced this week it has priced $250 million initial principal amount of Series 2016-1 Fixed Rate Asset-Backed Notes in a private asset-backed securitization transaction. The lending portal stated that the Notes will be issued in two classes that will consist of… Read More

Brief: DRB Completes Fifth Securitization of Refinanced Student Loans

DRB, a national bank and a marketplace lender that has reached $1 billion in student loan refinancings, today announced it has closed its fifth securitization. This fifth securitization brings total issuance in excess of $1.1 billion. DRB has been providing refinancing options for student loans… Read More

Moody’s: Securitization Provides Alternative Financial Solutions for Indian and Chinese Financial Systems

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Moody’s Investors Service avers that the development of domestic securitization markets will help India and China achieve their common goal of building inclusive financial systems that will ultimately bring affordable credit to the underprivileged segments of their societies and which are usually excluded from the conventional banking… Read More

Brief: KRBA Rates Marketplace Loan Trust that Holds OnDeck Loans

Kroll Bond Rating Agency (KBRA) has assigned preliminary ratings on notes issues by Marketplace Loan Trust.  The primary sponsor of the Trust is Jefferies Asset Funding.  The ratings are A(sf) to Class A Notes and BBB(sf) to Class B Notes.  While OnDeck was not the sponsor… Read More

Brief: DRB Completes Fourth Securitization of Refinanced Student Loans

DRB, a bank and marketplace lender that has reached $1 billion in student loan refinancings, announced this week that it has closed its fourth securitization. This securitization brings total issuance in excess of $928.2 million. The $332.5 million in senior notes were rated A2 to… Read More

Moody’s Rates $536 Million in SoFi Asset Backed Securities

Moody’s assigned definitive rates to the  SoFi Professional Loan Program (2015-D).  According to Moody’s, approximately $536 million in asset backed securities were rated. The securities are backed by student loans.  Moody’s said cumulative expected net loss for the loan pool was about 4.7%. The rating… Read More

Santander Pauses on Securitization of Marketplace Loans

Global bank Santander has halted, at least temporarily, its intent to securitize $1 billion in marketplace lending loans. According to a report in Asset-Backed, this will back out an agreement to purchase loans from the largest domestic marketplace lending platform Lending Club.  Apparently Santander is… Read More

Marketplace Lender SoFi Earns AAA DBRS Rating; Prices $417.6M Securitization of Refinanced Student Loans

SoFi, a marketplace lender, announced it has priced a securitization of $417.6 million in refinanced student loans. It also announced SoFi was considered the first fintech company to receive an “AAA” rating from DBRS and an “AA2” from Moody’s for the senior notes, which equaled $387.3 million. Nino Fanlo, SoFi CFO/COO,… Read More

Balboa Capital Completes $230 Million Securitization. Largest Ever for the Company

Direct lender Balboa Capital has completed a securitization in the amount of $230 million. This is the company’s 3rd term securitization and its largest ever.  Balboa, a privately held company, mainly focuses on equipment lease loans and loan backed notes.  According to Balboa, these notes… Read More

CommonBond Closes First Securitization. $100 Million Issue Gets Investment Grade Rating

Direct lender CommonBond has completed its first securitization backed by graduate student loans.  The $100 million securitization received investment grade ratings from both Moody’s and DBRS of Baa2 and A (high) respectively.  Morgan Stanley served as lead underwriter and sole manager for the transaction. White… Read More

CommonBond Issues $100 Million in Securities for Student Loans

Receives “Investment Grade” Rating from Moody’s & DBRS It was not that long ago that ratings agencies looked askance at marketplace lending platforms.  Yesterday CommonBond, a marketplace lending platform that targets the student loan refinancing space, received a solid review from both Moody’s and DBRS.  Moody’s delivered… Read More

SoFi Completes $411.9 Million Securitization. Largest to Date

Largest and Highest Rated Marketplace Securitization to Date Brings Total Issuance In Excess of $1.55 Billion SoFi, a young marketplace lending platform, has closed a $411.9 million securitization of refinanced student loans. Moody’s, Standard & Poor’s and DBRS gave the highest rated senior notes Aa2/A/AA (high) respectively. SoFi is the largest… Read More

SoFi Closes $303 Million A Rated Securitization of Refinanced Student Loans: Ratings Agencies Include S&P, Moody’s, DBRS

Peer to Peer Lending Platform Achieves “A” Rating from S&P and “A2” from Moody’s Social Finance or “SoFi”, a leader in P2P or marketplace lending, today closed a $303 million+ securitization of refinanced student loans for graduate borrowers. The senior notes were rated “A” by… Read More

Brief: Peer to Peer Lender SoFi Gets S&P Rating on Senior Portion of $270M Deal

According to multiple reports, peer-to-peer lender SoFi, a San Francisco startup, has received a landmark rating on the senior portion of a $270 million P2P deal. S&P and DBRS have assigned a single A rating according to the FT. Mike Cagney, CEO of SoFi was… Read More

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