Comments on: Zopa Gets U.S. Launch Ready – “Funds Will be Federally Insured” http://www.centernetworks.com/zopa-gets-us-launch-ready-social-finance-lending Web 2 and Social Media News and Reviews Sat, 21 Nov 2009 01:50:56 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: benjoseph http://www.centernetworks.com/zopa-gets-us-launch-ready-social-finance-lending/comment-page-#comment-15640 benjoseph Wed, 30 Nov -0001 00:00:00 +0000 #comment-15640 You may find this interesting... The MIT Club of Northern California is hosting a panel on social lending. We have panelists from Prosper, Lending Club, and Microplace. The event is in the SF bay area on Wednesday, December 5th. Here's the event link: http://www.mitcnc.org/Events_Single.asp?eventID=1365 You may find this interesting…

The MIT Club of Northern California is hosting a panel on social lending. We have panelists from Prosper, Lending Club, and Microplace. The event is in the SF bay area on Wednesday, December 5th. Here’s the event link:

http://www.mitcnc.org/Events_Single.asp?eventID=1365

]]> By: Joaquin Delgado http://www.centernetworks.com/zopa-gets-us-launch-ready-social-finance-lending/comment-page-#comment-15798 Joaquin Delgado Wed, 30 Nov -0001 00:00:00 +0000 #comment-15798 According the the WSJ article the only instrument that will be FDIC insured is a Zopa Branded CD that is currently capped at 5.1% return to investors. Not much different than other CDs on the market. -- Joaquin According the the WSJ article the only instrument that will be FDIC insured is a Zopa Branded CD that is currently capped at 5.1% return to investors. Not much different than other CDs on the market.

– Joaquin

]]> By: centernetworks http://www.centernetworks.com/zopa-gets-us-launch-ready-social-finance-lending/comment-page-#comment-15827 centernetworks Wed, 30 Nov -0001 00:00:00 +0000 #comment-15827 <p> Sorry Lending Club :) - this email I have clearly says LOANS are insured. I have no idea how though. We shall wait to see how they handle this. </p> Sorry Lending Club :) – this email I have clearly says LOANS are insured. I have no idea how though. We shall wait to see how they handle this.

]]> By: Joaquin Delgado http://www.centernetworks.com/zopa-gets-us-launch-ready-social-finance-lending/comment-page-#comment-15831 Joaquin Delgado Wed, 30 Nov -0001 00:00:00 +0000 #comment-15831 In the announcement they claim that the funds will be federally insured, which means to the lender this has to be presented as a federally insured instrument (i.e. CD). To the borrower loans will still be originated, thus claiming that these are insured loans does not change the WSJ story. Interestingly, they cleverly say that the lenders set the rates with a CIELING -- which again looks like a 5.1% CD. So I would take this with a pinch of salt. In the announcement they claim that the funds will be federally insured, which means to the lender this has to be presented as a federally insured instrument (i.e. CD). To the borrower loans will still be originated, thus claiming that these are insured loans does not change the WSJ story.
Interestingly, they cleverly say that the lenders set the rates with a CIELING — which again looks like a 5.1% CD. So I would take this with a pinch of salt.

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