You may have heard that LCIT 2016-NP1, Jefferies’ securitization of consumer loans originated by Lending Club, closed this afternoon.

This is a big deal. Not only does it put the securitization market for marketplace assets back on track, especially after the hiccup in May, but it’s also the first time a Loan Data Agent has been used to make the securitization process more transparent and efficient for investors.

dv01 had the privilege of being that Loan Data Agent.

What does this mean for investors, and the industry?

  • Instead of Excel files and rep lines, investors have access to a 24/7 modern reporting and analytics interface, with updated monthly loan level performance and composition details.
  • Investors could gather insight on collateral composition and performance in a matter of seconds, as well as download loan tapes with the click of a button.
  • With deal collateral data updated monthly by dv01, investors can continue to track the evolution of the pool over time, even after the deal has closed.

With the introduction of the Loan Data Agent, we were able to provide investors a best in class securitization experience, where modern reporting and analytics tools replaced antiquated manual processes. This unprecedented level of access and transparency is not only innovative for securitizations, but for the finance industry at large.

Being part of this deal was a thrilling experience, and took us one step closer to our goal of bringing transparency to all lending markets. While we’re not there yet, we envision a world not too far away where all consumer mortgage and debt data lives in one place, accessible and easy to analyze in minutes. A world where data is flexible and dynamic, regardless of whether it pertains to loans or bonds. And a world where data doesn’t just mean numbers, but actionable insights that help investors make decisions.

We’re excited to continue the hard work of getting there. And as always, we couldn’t have arrived where we are today without our great team, partners, and clients.