LC interest rates huge update 3/30/2020

[Fred93]

LC made a huge change on 3/30/2020, increasing rates for high quality loans by 2%, medium quality by 3%, and low quality loans by 4%.  Quite different than the tiny meaningless rate adjustments of the past. 

Then 10 days later, they announced that there would be no more grade D loans issued.  I suppose this opens the possibility of future rate increases for C grade loans.

Of course we still cannot judge what the change in default rates will be in light of the Covid-19 events.

https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Ffred93.com%2Ffbi%2FLC-interest-rates-2020-04-14.png&hash=dc42110b8e3a42220a08f99f1c54cd58" alt="" class="bbc_img" />

[JDII]

It has been nice getting a bunch of A rated loans above 10%. 

I'm with you wondering about the default rates of the future. A lot of loans are deferring payments into June and July.

Interesting few months coming up.

[rawraw]

Oh wow. Seems like a great opportunity