Author Topic: LC now dropping E grade loans  (Read 2173 times)

Debt Free

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LC now dropping E grade loans
« on: May 07, 2019, 11:51:33 PM »
Posted on LC's front page today...

Investment Update posted 5/7/2019
As of May 7, 2019, LendingClub stopped offering new grade E Notes except those corresponding to certain previously qualified or approved loans.

Effective July 1, 2019, no grade E Notes or loans will be available on the platform.
« Last Edit: May 08, 2019, 12:43:39 AM by Debt Free »

Rob L

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Re: LC now dropping E grade loans
« Reply #1 on: May 11, 2019, 09:39:33 AM »
My how times have changed!

lascott

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Re: LC now dropping E grade loans
« Reply #2 on: May 11, 2019, 09:47:39 AM »
My how times have changed!
Lot of dots below the 0% by comparison to the old times too!



'12, '13, '14 hayday.

Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

Rob L

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Re: LC now dropping E grade loans
« Reply #3 on: May 12, 2019, 10:17:45 PM »
And directly to the point of D & E loans now maturing little wonder there is no demand for the product:



Half the investors in high interest rate loans suffered returns of 2.5% or less and 10% lost money holding notes to maturity.
Now ask me why my LC money is in a 4% APR federally insured 48 month CD.
LC may as well as eliminate the D grade as well. Who are the buyers after being thrown under the bus?

And if you're an optimist just take a look at the chart from lascott showing NAR by vintage. 2018 (short brown line) is about the lowest in history albeit only 5 months matured. Charge offs have yet to kick in so we will see.