P2P Lending / NFT Lending Forum

Does anyone know when the policy of capping servicing fees at 1% of the installment for the first 12 months (see https://www.lendingclub.com/public/rates-and-fees.action" class="bbc_link" target="_blank">Rates and Fees) was implemented?

I read a https://www.peercube.com/blog/post/early-repayment-of-loans-and-impact-on-lenders-yield-at-lending-club" class="bbc_link" target="_blank">Peercube post from April 2014 which suggests that investors once had to pay a 1% fee on principal if a loan was paid off in the first 12 months. A comment on that post indicates that the policy had changed by June 2015. So the time of the change must have been somewhere in between.

And have there been any other significant changes to the fee policy?

I'm analyzing LC's large payments file (from http://additionalstatistics.lendingclub.com" class="bbc_link" target="_blank">Additional Statistics) for a research project and I've noticed instances where the final payment is larger than necessary. For example, this loan (screencap below) has interest rate 7.9% and made a final interest payment of $40.58, even though .079/12 * 3990.06 is only $26.27. It also seems that the borrower paid an extra $2.65 of principal. Can somebody explain why this might happen?

Column P_inv is the outstanding principal balance at the beginning of the period.

https://www.dropbox.com/s/hpn3wbb1p2hanrt/Capture.PNG?raw=1" alt="" class="bbc_img" />

I read in a number of LC's public docs that service fees vary by investment channel. From one of the recent 10-Qs:

"Note investors generally pay us a servicing fee equal to 1% of payment amounts received from the borrower. Whole loan purchasers pay a monthly servicing fee of up to 1.3% per annum of the month-end principal balance of loans serviced. Certificate holders do not pay a servicing fee, but pay a monthly management fee of up to 1.5% per annum of the month-end balance of assets under management."

I've been collecting data from the API, and the actual service fee rates (averages) look like this:
https://dl.dropboxusercontent.com/u/7346874/serviceFeeRate.PNG" alt="" class="bbc_img" />

I'm puzzled about how this corresponds to the written policy.  Fees on F look to be significantly lower than 1%, and W fees are even lower.  Can someone explain?

The LC Advisors https://www.adviserinfo.sec.gov/IAPD/Content/Common/crd_iapd_Brochure.aspx?BRCHR_VRSN_ID=408839" class="bbc_link" target="_blank">brochure states that "Lending Club randomly allocates Loan requests to fractional or whole Loan availability on a daily basis based upon platform participants' investment intent for the respective asset types in a given day." (italics mine)

Is anyone able to parse the meaning of "investment intent"? Is this based on investment criteria and automated investing rules?