[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:


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#

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. 

from: nevermore on March 30, 2017, 08:32:31 PM

[TravelingPennies]

from: Fred93 on March 31, 2017, 05:12:20 PM

[TravelingPennies]

from: nevermore on April 01, 2017, 05:07:26 AM

[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.

[TravelingPennies]

from: Fred93 on April 01, 2017, 01:09:42 PM