Prosper President Ron Suber is unhappy that when Citigroup got a cold reception from investors for a batch of securitized personal loans, they still sold them, but with yields as much as 5% points higher than for a similar deal late last year
Prosper Talks With Goldman, Others to Replace Citigroup on Loan Arrangement Prosper’s president had indicated some dissatisfaction over aspects of recent deals sold by Citigroup Online lender Prosper Marketplace Inc. has decided to end a loan-sale arrangement it had with Citigroup Inc. and is talking to other firms, including Goldman Sachs Group Inc., to replace the New York bank, according to people familiar with the matter. Since last summer, Citigroup has been one of the biggest buyers of Prosper’s unsecured consumer loans, often selling them to investors in securitization deals. The financial-technology company, which matches consumer borrowers with investors willing to lend them money, is...
http://www.wsj.com/articles/prosper-cuts-off-loan-deal-with-citigroup-1460483662
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