Sidley lawyers have been actively involved in online marketplace lending since the first days of the industry, beginning with the loan origination side. Representing a key business partner of the two initial U.S. online peer-to-peer consumer lending platforms, we advised on the structure, regulation and disclosures of the lending process. As these and other online marketplace lending platforms became operational, our lawyers partnered with fund investors and banks to set up forward flow purchase programs. Our work included the negotiation and documentation of loan purchase and loan servicing agreements, the review of legal regulatory compliance by the platforms, and the formation of purchasing and origination entities with considerations towards tax efficiency, regulatory compliance and maximum flexibility for financing.
“Substantial experience handing transactions involving consumer asset classes, such as online lending, acting for issuers, underwriters and purchasers. Increasingly active advising on CMBS and RMBS, as well as auto loans, CLOs and marketplace lending deals.”
Chambers USA, Nationwide Securitization, 2018