NEW YORK, Sept. 20, 2018 /PRNewswire/ — dv01, the data management, reporting, and analytics platform that brings transparency to lending markets, today announced an expanded reporting partnership with LendingClub, securing its role as loan data agent for all completed CLUB Certificate transactions. Prior to this partnership, dv01 has provided reporting services for $2.75 billion of LendingClub securitizations.
“We’re excited to grow our partnership with LendingClub and bring deeper transparency for their investors,” said Perry Rahbar, founder and CEO of dv01. “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.”
LendingClub is America’s largest online marketplace connecting borrowers and investors. In December 2017, it announced the closing of its first CLUB Certificate transaction, which consists of whole loans structured as a pass-through security. The certificate trades in the over-the-counter market with a CUSIP and is cleared through the Depository Trust and Clearing Company.
“LendingClub’s previous work with dv01 has made it clear that investors appreciate the ability to conduct deep analysis into structured products, both before and after purchase,” said Valerie Kay, Chief Capital Officer of LendingClub. “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.” Read more about LendingClub at https://www.lendingclub.com/.
As loan data agent, dv01 will receive loan data directly from LendingClub, which it will normalize, validate, and roll up for monthly servicer reporting. The company will also prepare and provide monthly loan tapes; reconcile the monthly remittance report; and provide approved investors access to the data through dv01’s portal, which features a suite of reporting, analytics, and cashflow tools designed specifically for 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.