The WSJ reported that consumers increased their rate of borrowing for auto and student loans in February but reduced the amount charged to their credit cards, according to data from the Fed.
In a move to spur investments in large p2p loans, Lending Club announced they would waive service fees for investments made in loans over $20,000. This is a limited time offer that was seemingly introduced to help some of the larger loans on the site secure funding more quickly.
SoFi, a peer to peer student loan site, was launched. With SoFi, current students can obtain loans from school alumni interested in having consumer loans as part of their tax deferred retirement portfolio. They are currently advertising expected returns from 5-8%.
The American Bankers Association reported that consumer delinquencies declined in all categories of loans for the first time since 2004.
Lending Club reach a new milestone with over $50 million paid to investors.
Here at Lucrative Lending, we had a post about a peer to peer loan investment strategy dubbed Follow the Leader, where beginner investors can study and track the investments made by the top earning investors on Prosper.
And lastly, on a personal note, I was able to secure my first peer to peer loan through Prosper and wrote up a final post on my experience as a borrower.