Every quarter I take some time to share how my marketplace lending investments have been doing. I open the kimono...
I have two kids, aged 10 and 8, and unlike pretty much every other kid their age, they both take...
Lending Club's chief technology officer, John MacIlwaine, has resigned and will pursue another opportunity; the firm will conduct a search for a new chief technology officer and has appointed the senior vice president for technology to oversee the business; MacIlwaine had been with Lending Club since 2012 and has extensive experience in executive management roles overseeing financial technology platforms. Source
Lending Club is offering a bonus for IRA investors; Lend Academy provides details in their article; any investor who opens or adds to an IRA account with at least a $5,000 investment by April 30, 2017 will receive a bonus; bonuses range from $150 to $3,000 for investments from $5,000 to $100,000 and over. Source
We often get emails from readers asking about the current state of investing with Lending Club or Prosper. Many investors...
A new company called Croudify recently announced that their secondary market platform for Lending Club was launching in beta. The...
The Securities and Exchange Commission (SEC) has requested that Lending Club provide increased disclosure on its loan portfolio and sources of funds also suggesting they improve non-GAAP reporting which is potentially misleading for investors; Lending Club has agreed to provide more disclosure and evolved its SEC filings accordingly however it has defended its non-GAAP accounting procedures, reporting it did not see the measures as misleading; recent requests for added disclosure as a publicly traded company are included in the SEC's last correspondence on November 4; the items remain open and the SEC's most recent correspondence is in addition to its review of the company following the replacement of its CEO in May. Source
If you’ve been thinking about opening up an IRA account with Lending Club, now is a great time to do...
Many of us in this industry will be glad to see the last of 2016. It has been a difficult...
Lend Academy provides insight on online lending performance trends in their article; details interest rate changes and trends from 2010 to present; from 2010 to 2014 returns were relatively stable; in 2015, Lending Club interest rates increased with the Fed's first rate increase in many years however the rate increases were primarily focused on the higher risk loans; capital market investors began slowing investment in 2015 and reduced investments even further after the resignation of Lending Club CEO Renaud Laplanche in May 2016; interest rates at Lending Club have been gradually rising since late 2015, specifically in the higher risk loans; rate increases were put in place to help to offset some degradation in performance; Lend Academy will explore recent vintage performance in part two. Source