What opinions do you guys have on how the sub-prime mortgage meltdown will affect peer to peer lending? I’ll confess I’m still spooked at the moment and working to draw down my balance at Prosper. From things I’ve been reading, it would appear that the worst is still yet to come, what with a large chunk of ARM borrowers set to reset between now and mid 2008. What do you guys think? Will p2p lending suffer when a lot of these people default?
This was posted by Jimmy211 at the P2P No Bank Forum… here is a link: Sub-Prime Mortgage Meltdown
RateLadder responded with
I have read 2 schools of thought. 1 is that it will as you are saying. The other is that people do everything possible to cut a deal with their mortgage provider and protect their consumer credit.
As an unsecured loan we are last in line in bankruptcy and that is why loan rates are higher on unsecured loans.
Personally I have always been chasing the highest rates. But I have recently be focusing on the cleanest of the clean credit (flight to quality.)
What do you think? Come join the discussion at the P2P No Bank Forum!
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Kalamazoo, MI. - September 11, 2007 – GlobeFunder, an online microlending marketplace, is happy to announce the hiring of James von Kreuter as Executive Vice President, Business Development and Managing Director, Capital Markets.
“Jim brings a high level of expertise to GlobeFunder through his experience with institutional financial service clients. We feel Jim’s provides GlobeFunder with the ability to expand into specific markets that will aid the expansion and growth of our company,” said Benjamin Decio, President of GlobeFunder.
Mr. von Kreuter is a senior investment banker with over 18 years experience in raising over $4 billion of debt and equity capital for corporate clients related to growth capital, recapitalizations, acquisitions and leveraged buy-outs. His product expertise spans investment grade debt, high yield and mezzanine debt and private equity. As an affiliate of Houlihan Smith, Mr. von Kreuter is also a Managing Partner and Founder of Watch Hill Capital Group LLC based in Burr Ridge, IL which specializes in merchant banking and advisory services to middle market companies. He has extensive experience and high quality relationships with institutional investors including hedge funds, finance companies, mezzanine funds, insurance companies and private equity sponsors. Mr. von Kreuter has also served as Managing Director and Head of Private Finance at Mesirow Financial, Inc. in Chicago. In his earlier career he worked in debt capital markets at Bear, Stearns & Co. and was a founding member of the Private Finance Group at Alex. Brown & Sons in New York. As a capital markets product specialist, Jim has acted as lead advisor to companies in the following industries: gaming, consumer products (including retail and restaurants), healthcare, real estate, hospitality, environmental services, financial services, manufacturing, food services, agriculture, consulting and accounting.
Mr. von Kreuter holds a Master of Management Degree in Finance and Management Policy from the Kellogg Graduate School of Management at Northwestern University and a Bachelor’s Degree in Economics from Hobart College.
About GlobeFunder:
GlobeFunder is committed to being the leader in providing loan funding where it is needed most, at market driven interest rates, with the highest levels of service and integrity. GlobeFunder’s online lending marketplace for small loans scales by lowering capital costs for borrowers and providing market-driven investment returns for lenders. The GlobeFunder online marketplace launches in October 2007. Please go to www.globefunder.com for more information.
Press Contacts:
Ben Decio
GlobeFunder Ventures Inc.
269.488.1565
ben@globefunder.com
—
This press release was received by RateLadder directly from GlobeFunder
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