Orchard Platform, an investment and analytics platform focused on global marketplace lending, has launched the Orchard Originator Database, a first-of-its-kind source for aggregated information on a large number of loan originators across a wide range of global asset classes.
The database is designed to give investors an efficient way to evaluate originators. It also provides the originators with a venue to share information about their deal flow with qualified institutional investors.
“As institutional investors have entered the marketplace lending space they bring a more mature set of expectations to the market,” Matt Burton, chief executive of Orchard, said in a statement. “Being able to research and compare loan originators is a valuable tool and something we're excited to offer. For loan originators security is critical and we've crafted a thoughtful balance between transparency and privacy that benefits all involved.”
The firm has so far signed on about 28 loan originators and more than 25 institutional investors. Originators fill out 25 questions that give prospective investors basic top-level information including types of loans, the executive teams behind them and expected deals, Burton told PDI. Then, when an investor, such as a hedge fund, asset management firm or business development company, decides that they like what they see and want more information, they can request it. Orchard will liaise with the borrower to get an investor access to a data room, which could list the relevant company’s loan history including past lenders and loans, underwriting models etc. “I haven’t seen a similar product in the business. Selling whole loans is new and in the past, you’d have to securitize yourself and work with various ratings agencies. This gives a large number of institutional investors a transparent way to the lending process,” Burton said.
The service is free to accredited investors registered with Orchard. And Burton plansto keep it free. Both parties need to sign non-disclosure agreements to be included.
“Security is an extremely important feature of the new database,” David Snitkof, co-founder at Orchard, said in a statement. “Originator data is protected by industry-standard SSL encryption and covered under NDAs that are signed by investors as a prerequisite for accessing the information.”
Orchard's database allows institutional investors to filter and search by asset class, term, track record and other details, making it easier to find opportunities best matched for their specific investment goals. Participation is available for qualified institutional investors who sign up with Orchard.
Founded in New York City in 2013, Orchard focuses on building the systems and infrastructure geared toward the growth of marketplace lending.
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