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Service fees

Started by Peter, March 29, 2017, 11:00:00 PM

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nevermore

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?




lascott

Here is an example I just looked at via my payments today via this display: https://www.lendingclub.com/account/getLenderActivity.action#" class="bbc_link" target="_blank">https://www.lendingclub.com/account/getLenderActivity.action#

The one % is calculated accurate on the values displayed on my mouse overs.

0.7992717332 Principle from display
0.0991568382 Interest from display
0.9975854096 Total calculated

0.008984285714 One % via my calc

0.0089842857 One % via LC from display

Fred93

The reason these numbers don't agree is that they are different things.  Much like your local temperature and barometric pressure. 

https://forum.lendacademy.com/index.php?topic=4390.msg40391#msg88888888Quote"> from: nevermore on March 30, 2017, 08:32:31 PM


TravelingPennies


Rob L

I heard a rumor that LC was in the trial phase of a new category; "Tripartite"; loans split into three equal amounts.
The new "T" class loans would facilitate secutitization for micro banks, and we should shortly begin to see loan classes WTF in the future.


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