If you have a well diversified p2p lending portfolio then defaults are annoying but they are unlikely to do too...
Kroll Bond Rating Agency has assigned preliminary ratings to a LendingClub securitization portfolio; the loan securitization, LendingClub Issuance Trust, Series 2016-NP2 (LCIT 2016-NP2), is valued at $101.75 million and includes two classes of notes with LendingClub consumer loans; the class A tranche which accounts for 84% of the deal at $85.3 million, is rated BBB; the class B tranche accounts for 16% at $16.4 million and is rated BB+. Source
Scott Sanborn talks with Bloomberg about LendingClub's recovery and Q217 results; says the firm has focused on internal controls and investors; highlights that 44% of loan funding in Q2 came from banks; also discusses competition with credit cards and the consumer credit market. Source
Lending Club has closed five of its investment funds under LC Advisors; the loans have been sold off to various buyers and the company has rebranded its investment management business to LendingClub Asset Management. Source
Yesterday LendingClub released their Q3 earnings; they originated $2.44 billion in loans, up 14% from the previous quarter; revenue was on the lower end of projections, but the company had a lower GAAP loss than expected; Lend Academy shares other highlights from the earnings call. Source
As you may know every loan on both Lending Club and Prosper is a security that is registered with the...
Blog post outlines platform performance and improving delinquency rates across most grades and terms; provides perspective on the economic backdrop and interest rates; the company has updated their loss forecasts; projected returns are similar to last quarter with small increases for grades F and G. Source
The lawsuit according to Crowdfund Insider names former CEO Renaud Laplanche along with current and former board members as well as former CFO Carrie Dolan; according to the complaint: "Throughout the period December 11, 2014 and continuing through May 9, 2016 (the "Relevant Period"), the individual defendants breached their fiduciary duties to LendingClub by failing to institute adequate internal controls regarding financial disclosures, related party transactions, and data integrity and security, all while causing LendingClub to represent in the Registration Statement and a series of subsequent filings that such controls were sufficient."; two shareholders filed the suit. Source
Last quarter we reported that LendingClub had returned to origination growth. It was a relatively small amount, compared to historical...
A recent post on the Lend Academy Forum spurred a discussion about the potential future of LendingClub, particularly as it...