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Topics - sigclem

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Investors - LC / Is LendingClub Broken?
« on: June 05, 2016, 09:32:13 AM »
This is a fair question and one I would be curious to hear a reasonable response to.  I have invested in the stock, taken a loan, and most recently advised a friend to try taking a loan as well.  It is the last experience that leads me to believe the company is broken and will have a very hard time recovering.

As of this morning, there were 1,800 loans available for investors (that I could publicly count without being an investor myself).  About 800 of those were 60 month loans.  The demand for 60 month loans appears to completely evaporated.  Lending Club is slowly releasing loans that had applications as late as 30 days ago (last batch of releases appear to be from May 6th).  The demand for 60 month notes is gone.  Does not matter if it is an A loan or an E loan.  It is just gone. 

When a large pool of investors completely shun a material portion of your platform, you are done.  More importantly, what do you think these borrowers are doing?  Do you think they are sitting their waiting for 30 days to get an answer from Lending Club.  Heck no.  They are moving on to different platforms like SoFi or Prosper.  The reality is LendingClub is dying a slow death as it loses thousands of customers daily that it use to convert into borrowers by having the best platform. 

This should concern retail investors and it has definitely made me quickly close the trade I made when I bought LendingClub shares around $4 thinking it was a long term holding.  I see huge risks around this company. 

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Borrowers - LC / Looking for loan: 79081728
« on: May 27, 2016, 01:29:25 PM »
A relative received an invite to apply, and received a Direct Pay loan approval (directly paid to creditors).  I have looked and I can't seem to find it as listed anywhere.  Is this because of the recent issues with funding at Lending Club?

Any insight from investors who can see it would be great.  Lending Club is telling her she is fully approved and I am telling her to hold off on counting her chickens because I don't see the loan.

Thanks

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