https://forum.lendacademy.com/index.php?topic=1234.msg8456#msg88888888Quote"> from: Cries on June 20, 2013, 11:28:57 PM
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#92
Investors - LC / Recoveries
May 22, 2013, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=1113.msg7516#msg88888888Quote"> from: AmCap on May 23, 2013, 04:43:34 PM
#93
Investors - LC / Recoveries
May 19, 2013, 11:00:00 PM
That's awesome, great to hear it! Congratulations!
#94
Investors - LC / Finally had my first defaut—
April 17, 2013, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=987.msg6118#msg88888888Quote"> from: Fred on April 18, 2013, 12:12:25 PM
#95
Investors - LC /
December 31, 1969, 06:00:00 PM
https://forum.lendacademy.com/index.php?topic=950.msg6071#msg6071">Quote"> from: brycemason on April 16, 2013, 10:48:48 PM
#96
Investors - P / Is Prosper turning around?
April 05, 2013, 11:00:00 PM
This is great news, indeed.
Both parties receive signifcant and direct benefit from improved collections.
Both parties receive signifcant and direct benefit from improved collections.
#97
Investors - LC / Certificate Investor
April 05, 2013, 11:00:00 PM
Looks like investors through LCA got the company to insure their investment against losses with their "Credit Support Agreement."
Oh the sweetheart deals that can be concocted if only you have enough money.
https://forum.lendacademy.com/Smileys/default/cool.gif" alt="8)" title="Cool" class="smiley" />
From the 10-K:
Contingencies
Credit Support Agreement
During the nine months ended December 31, 2012, the Company entered into a Credit Support Agreement with a Certificate investor. The Credit Support Agreement requires the Company to pledge and restrict cash in support of its contingent obligation to reimburse the investor for credit losses on Member Loans underlying the investor's Certificate, that are in excess of a specified, aggregate loss threshold. The Company is contingently obligated to pledge cash, not to exceed $3.0 million, to support this contingent obligation and which number is premised upon investor volume. As of December 31, 2012, approximately $2.3 million was pledged and restricted to support this contingent obligation.
As of December 31, 2012, the credit losses pertaining to the investor's Certificate have not exceeded the specified threshold, nor are future credit losses expected to exceed the specified threshold, and thus no expense or liability has been recorded. The Company currently does not anticipate recording losses resulting from its contingent obligation under this Credit Support Agreement. If losses related to the Credit Support Agreement are later determined to be likely to occur and are estimable, results of operations could be affected in the period in which such losses are recorded.
Oh the sweetheart deals that can be concocted if only you have enough money.
From the 10-K:
Contingencies
Credit Support Agreement
During the nine months ended December 31, 2012, the Company entered into a Credit Support Agreement with a Certificate investor. The Credit Support Agreement requires the Company to pledge and restrict cash in support of its contingent obligation to reimburse the investor for credit losses on Member Loans underlying the investor's Certificate, that are in excess of a specified, aggregate loss threshold. The Company is contingently obligated to pledge cash, not to exceed $3.0 million, to support this contingent obligation and which number is premised upon investor volume. As of December 31, 2012, approximately $2.3 million was pledged and restricted to support this contingent obligation.
As of December 31, 2012, the credit losses pertaining to the investor's Certificate have not exceeded the specified threshold, nor are future credit losses expected to exceed the specified threshold, and thus no expense or liability has been recorded. The Company currently does not anticipate recording losses resulting from its contingent obligation under this Credit Support Agreement. If losses related to the Credit Support Agreement are later determined to be likely to occur and are estimable, results of operations could be affected in the period in which such losses are recorded.
#98
Investors - LC /
December 31, 1969, 06:00:00 PM
Haha!
I remember seeing that one earlier today and laughing at the title. The borrower description wasn't added at the time. That is priceless! I think I even said out loud, "Yeah, you GET THAT LAND"https://forum.lendacademy.com/Smileys/default/grin.gif" alt=";D" title="Grin" class="smiley" />
I remember seeing that one earlier today and laughing at the title. The borrower description wasn't added at the time. That is priceless! I think I even said out loud, "Yeah, you GET THAT LAND"
#99
Investors - LC / Did payments not post today?
December 31, 1969, 06:00:00 PM
All of mine that were affected in that way have not been rectified either. I doubt it will be retroactively addressed by LC, but I hope I am wrong.
#100
General P2P Lending Discussion / what can p2p platforms really do to a credit score?
December 31, 1969, 06:00:00 PM
https://forum.lendacademy.com/index.php?topic=827.msg4620#msg88888888Quote"> from: AmCap on March 13, 2013, 09:02:49 PM
#101
Investors - LC / Number of Available Loans During 24 hrs: Grades A-C and D-G
March 10, 2013, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=801.msg4484#msg88888888Quote"> from: viking on March 11, 2013, 04:28:07 PM
#102
Investors - LC / Did payments not post today?
December 31, 1969, 06:00:00 PM
A similar percentage of mine are in the same state. I wouldn't worry that our portfolios are on the brink of collapse. I think LC is experiencing a processing delay themselves because some of the note payments (according to my account activity) completed on the 6th or 7th (according to the note detail) but were not posted until yesterday (Mar. 8th).
The ~10% or so that completed Mar. 8th were posted Mar. 8th, which is unusual.
The ~10% or so that completed Mar. 8th were posted Mar. 8th, which is unusual.
#103
Investors - LC /
December 31, 1969, 06:00:00 PM
Love the discussion, thank you for posting this.
*goes and gets more wine anyway*
*goes and gets more wine anyway*
#104
Investors - LC / What will happen if Lending Club becomes a public company?
March 03, 2013, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=779.msg4134#msg88888888Quote"> from: AmCap on March 04, 2013, 11:00:06 AM
#105
Investors - LC / Do you invest in a loan because of touching or excellent description?
December 31, 1969, 06:00:00 PM
We should start compiling all of the loans we come across that were charged off that contain descriptions like these!
I think it would be a constant reminder for us not to become enamored by superficial fluff and a valuable resource to all new investors who may not possess a high enough level of skepticism yet!
What should it be named? The Hall of Shame?
I think it would be a constant reminder for us not to become enamored by superficial fluff and a valuable resource to all new investors who may not possess a high enough level of skepticism yet!
What should it be named? The Hall of Shame?