P2P Lending / NFT Lending Forum

Anyone got/heard any updates on this situation. Or should we just all forget about LC?

"effective August 6, 2019, we are increasing rates for Grade D by on average, 50 basis points."
got an email yesteday

I noticed a huge drop in number of fractional notes back in October.
It's been pretty bad until second half of July when they made more fractional notes available.
Below graph from Peercube proves what i have been seeing in my account
http://prntscr.com/oprhit" class="bbc_link" target="_blank">http://prntscr.com/oprhit

Any good bad info about Cadre? I know they had some issues with reporting in the past.

I guess this is where all the loans are going to
https://www.lendacademy.com/lendingclub-reaches-1bn-in-club-certificate-issuance/" class="bbc_link" target="_blank">https://www.lendacademy.com/lendingclub-reaches-1bn-in-club-certificate-issuance/

Did anyone look into Yieldstreet?
They definitely have an interesting investment mix.

Was anyone able to get LC to refund some of their investment that was charged off based on the fact that the borrower defaulted after making 0-2 payments or maybe some other criteria?

Did you email their general support email or had to go through manager/supervisor?
Feel free to PM me.

I noticed that starting October 1 the number of LC loans that match my filters dropped by 80-90%. At first i thought that this happened because LC pulled most loans into end of September to hit their Q3 numbers. But its been 2 weeks and the volume did not pick up.

Several questions about the merger:

Do you know when the 2 platforms will be merged?
When will the estimated returns be available again in Lending Robot?
Will Lending Robot app work again?
Will the new version keep the same rule structure for buying notes as the current Lending Robot especially the LR Score?

I have my IRA account at Strata Trust Company (the old SDIRA).
Right now LendingClub's preferred IRA custodian is IRA Services Trust Company (ISTC).

Is there any reason to switch IRA custodians?
Did anyone do it? Was it a lot of trouble/paperwork?

These people stopped paying after making 1 payment and some made 0 payments even though they have $70,000-100,000 incomes and 700+ credit scores.
I wonder if these loans are fraudulent/identity theft related?

Loan 110966900
Loan 111907477
Loan 110353528
Loan 110437025
Loan 112712947

Credit cards defaults are up

http://www.businessinsider.com/credit-card-defaults-have-spiked-as-lending-standards-fall-2017-6?utm_source=PeerIQ+Weekly+Market+Update&utm_campaign=fb6a8e9716-EMAIL_CAMPAIGN_2017_06_11&utm_medium=email&utm_term=0_1a3ccbed26-fb6a8e9716-157393997" class="bbc_link" target="_blank">http://www.businessinsider.com/credit-card-defaults-have-spiked-as-lending-standards-fall-2017-6?utm_source=PeerIQ+Weekly+Market+Update&utm_campaign=fb6a8e9716-EMAIL_CAMPAIGN_2017_06_11&utm_medium=email&utm_term=0_1a3ccbed26-fb6a8e9716-157393997

2016 worst vintage

http://www.peeriq.com/assets/MPL%20Loan%20Performance%20Monitor%20(PeerIQ_March%202017).pdf" class="bbc_link" target="_blank">http://www.peeriq.com/assets/MPL%20Loan%20Performance%20Monitor%20(PeerIQ_March%202017).pdf

"The decision by the Supreme Court not to review the Second Circuit's holding in Madden means we're probably just seeing the very beginning of lawsuits against marketplace lenders, such as LendingClub. Not only are marketplace lenders at risk, but so will be the sponsors and other participants in the securitization of marketplace loans to the extent loans are held unenforceable or interest rates are reduced. Experience shows that when cash flows to investors are reduced, litigation follows."

http://www.altfi.com/article/2069_supreme_court_rejects_midland_appeal_in_major_blow_to_marketplace_lenders" class="bbc_link" target="_blank">http://www.altfi.com/article/2069_supreme_court_rejects_midland_appeal_in_major_blow_to_marketplace_lenders

I was hoping for BRV announcement