I don't think the industry as a whole would burst like the mortgage bubble, but I believe each individual funder is vulnerable to his own bubble. Companies that constantly push to fund more deals each month and at the same time relax their underwriting guidelines and lower their rates to be competitive will find themselves in a precarious situation if defaults start to exceed a certain percentage. The much larger and well capitalized funding companies are in greater danger of bursting their bubbles than the smaller funders are.