P2P Lending / NFT Lending Forum

LendingClub gains after new hire

    Formerly global COO for BlackRock's iShares, and then head of BlackRock's San Francisco office and head of iShares Global Markets and Investments, Patrick Dunne takes over as LendingClub's (NYSE:LC) chief capital officer.
    He will focus on the most critical part of the company's turnaround effort, says BTIG's Mark Palmer: Convincing investors to return to its platform, while also attracting new sources of capital to fund loan growth.
    "Dunne could serve an important role not only in shoring up LendingClub's investor base, but also contributing to the development and launch of new verticals from the company's marketplace platform."
    Shares +2.45% premarket

im all in 36 month notes and i think based upon the prior month it will take about 13 months to liquidate. Also waiting it out patiently

Reuters: Former LendingClub CEO Laplanche looking to take company private
Jun 7 2016, 18:42 ET | About: LendingClub... (LC) | By: Eric Jhonsa, SA Eye on Tech, SA News Editor [Contact this editor with comments or a news tip]

Reuters reports Renaud Laplanche, who last month stepped down as LendingClub's (NYSE:LC) CEO due to the circumstances surrounding a loan sale, is talking to P-E firms and banks about financing a takeover of the company.

Shares are up 5.5% after hours to $4.63. They fell 7.4% in regular trading amid news LendingClub had postponed its annual meeting and #2 shareholder Baillie Gifford had liquidated its stake.

Subprime auto currently yielding around 24%, plus you can always repossess .

I requested a groundfloor invite a while back but i think they can only invite based upon states they are approved in.  Fundrise has been excellent so far but i am being very careful for the coming shake out

the income and the expense flow out separately.
the income comes out as "other portfolio income" and the expenses as "other portfolio expenses".
in this way the accountants sign off on the return and you have the headache of deciding how to pick it up.
if you decide to pick it up as a business you may subject yourself to Social Security taxes on your "Net Income from Self Employment"

Either ACH or wire after your investment is accepted. fundrise already funded the first deal in the ereit

Agree with you totally Fred. I currently have almost equal amounts in Lending Club and LC Advisors funds. The portfolio in Lending Club is currently beating the return in LC Advisors and yet both require no effort. The difference may partially be attributed to the fees of Advisors.

On the other hand I have been able to liquidate out of a fund in one shot, and cannot see selling out on Folio without taking a big hit

the ability to liquidate your entire balance in a one month period makes it totally worthwhile.

Funding Circle takes personal guarantees

tes you can sell immediately.

You can use the Capital gain on the sale to offset the capital losses caused by LC write offs of investors notes. Its a win win

anyone figure out how to sell the shares?

http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html" class="bbc_link" target="_blank">http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html


This might explain part of the problem and the shortage

as an investor through both LC Advisors and as an individual investing directly I have recently decided that it is much easier to continue through LC Advisors. I had attempted to beat the returns provided through LC Advisors by using my own filtering systems but lately it has become impossible to overcome the cash drag due to the inability to find enough notes meeting my filter criteria to keep me fully invested.
I have begun to request withdrawals from my individual account which i am sending into LC Advisors.
It appears that High Frequency Investing has overtaken P2P lending just as High Frequency Trading has overtaken trading of every other capital asset. it was fun while it lasted but the time has come to start looking for the next niche. Good luck to all

LendingClub files for $500M IPO

    Top P2P lending platform LendingClub has filed for a $500M IPO. No symbol has been proposed yet. The underwriters are Goldman, Morgan Stanley, Citi, Stifel, BMO, Allen & Co., William Blair, and Wells Fargo. (prospectus)
    LendingClub had 1H14 revenue of $87.3M (+135% Y/Y), and a net loss of $16.5M. Sales/marketing spend totaled $39.8M, and origination/servicing costs $15.7M.
    1H14 Loan originations totaled $1.8B (+125% Y/Y), with contribution margin coming in at 41.8% (+70 bps Y/Y). The company had $2.33B in loans on its balance sheet as of June 30.
    LendingClub was valued at $3.75B in a funding round that took place earlier this year. The FT has reported the company is aiming for a ~$5B IPO valuation.