Online Lenders, Podcasts

TS Lending Podcast: The race to 1 day mortgage closings, crypto lending needs to grow up, SoFi adds investing

  • On this week's Lending Podcast, Zack and Dan explore crypto lending.
  • Also on the show, SoFi's foray into investing, digital mortgage speed, and Chinese P2P lending.
TS Lending Podcast: The race to 1 day mortgage closings, crypto lending needs to grow up, SoFi adds investing

Welcome to episode 2 of the Tearsheet Lending Podcast with your hosts Zack Miller and Dan Pelberg.

This week on the show, we talk about crypto lending and what the industry needs to do to grow up. Dan wrote a thoughtful article about the crypto lending space this week. As Dan spoke with a lot of the players, it became clear that they primarily target speculators now and that there are a few things that will need to happen for this to become a serious industry.

We talk about SoFi’s expansion into investing. As growth levels off, a lot of lenders that began as monoline are expanding into other products. SoFi plans to introduce stock and ETF investing on its platform. Will people come for loans and stay to invest? Not sure.

Dan and Zack turn to the race for speedy digital mortgage closings. LoanDepot introduced an eight day digital closing product this week. Chase publicly committed to a 21 day closing on its offline mortgage products with a “Closing Guarantee” that will pay customers $1000 if the bank misses the closing window. This guarantee is only available to customers that use other Chase products, so it’s less about tech and more about cross-selling and tiered service delivery.

Lastly, Dan and Zack discuss the Chinese P2P lending market which grew unfettered to over 6000 lending platforms. Fraud and mismanagement were rife and the government is now cracking down, closing down many of the platforms, seizing assets and prosecuting people. What does this say about the future of crowdlending in China and in general?

New banks, Podcasts

Behind the scenes of OakNorth’s mortgage product launch with CFO Cristina Alba

  • OakNorth is a UK challenger bank that's really focused on SME lending.
  • The company recently launched a mortgage product aimed at the same entrepreneurs.
Zack Miller | May 23, 2019
New banks, Podcasts

BankMobile’s Luvleen Sidhu on T-Mobile MONEY, banking college students, and leveraging partnerships for growth

  • T-Mobile now offers banking services and a very aggressive interest rate.
  • Through this white label partnership, BankMobile reaches more end customers.
Zoe Murphy | May 21, 2019
Banking as a service, Finance Everywhere, Payments, Podcasts

Why community and regional banks use Currencycloud to power their international payments offerings

  • Currencycloud has made a business out of servicing international payments offerings for other businesses.
  • Richard Arundel, co-founder and the general manager of his firm's North America business, joins us on the podcast.
Zack Miller | May 17, 2019
Future of Investing, Podcasts

Say’s Byron Sorrells on using technology to give individual investors a voice

  • Say uses technology to help investors understand what they own and participate in ownership.
  • The company gave Tesla investors with just a few shares the ability to participate in a recent earnings call.
Zack Miller | May 16, 2019
Payments, Podcasts

Binji launches, wants to be the only card in your wallet

  • Consumers have a lot of credit cards to manage.
  • New banking app Binji provides an innovative hardware and software solution for card consolidation.
Zack Miller | May 15, 2019
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