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Topics - Half Right

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Investors - LC / Fintech consumer loans souring faster than expected
« on: September 26, 2016, 11:14:21 AM »
Fintech consumer loans souring faster than expected

    At issue are consumer loans made by LoanDepot, and a one-year old securitization of them - MPLT 2015-LD1 - in which overdue payments have already breached a "trigger" which now directs cash from low-ranked tranches to protect those in higher classes.
    Cumulative losses rose to 4.97% in September vs. the 4.9% "trigger."
    This deal and at least two other struggling ones were underwritten by Jefferies (NYSE:LUK). Among LoanDepot's - which for years specialized in traditional mortgage banking until getting into Internet-based consumer loans - investors is Ellington Financial (NYSE:EFC), which contends the weakening in the sector is a buying opportunity.
    LoanDepot postponed an IPO late last year, instead turning to other sources to raise money.


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Investors - LC / good news finally
« on: July 18, 2016, 09:25:51 AM »
LendingClub gains after new hire

    Formerly global COO for BlackRock's iShares, and then head of BlackRock's San Francisco office and head of iShares Global Markets and Investments, Patrick Dunne takes over as LendingClub's (NYSE:LC) chief capital officer.
    He will focus on the most critical part of the company's turnaround effort, says BTIG's Mark Palmer: Convincing investors to return to its platform, while also attracting new sources of capital to fund loan growth.
    "Dunne could serve an important role not only in shoring up LendingClub's investor base, but also contributing to the development and launch of new verticals from the company's marketplace platform."
    Shares +2.45% premarket


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Investors - LC / Good News finally
« on: June 14, 2016, 03:53:38 PM »
http://www.bloomberg.com/news/articles/2016-06-14/ex-lendingclub-chief-laplanche-sells-part-of-stake-in-company
Renaud Laplanche, the LendingClub Corp. founder who stepped down as its leader in a shakeup last month, sold off part of his stake in the company, according to a regulatory filing.

Laplanche disposed of 1.2 million shares through Morgan Stanley in early June, according the filing dated June 13. That stock had a value of about at $5.3 million at the close of trading on Monday. It represents about 14 percent of the shares Laplanche held on May 6, according to an earlier filing.

A spokesman for Laplanche had no immediate comment Tuesday. A LendingClub spokesman didn’t immediately respond to a message seeking comment.

Laplanche, 45, has said little about his plans since his surprise resignation as chairman and chief executive officer last month set off a 39 percent slide in LendingClub’s stock. The company, which matches consumers seeking loans with investors willing to fund them, said the exit was prompted by two incidents: Staff had altered application dates on $3 million of loans before their sale, and Laplanche failed to disclose his interests in a fund that LendingClub was considering investing in.

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Investors - LC / You have to love Wall Street
« on: June 07, 2016, 08:09:43 PM »

Reuters: Former LendingClub CEO Laplanche looking to take company private
Jun 7 2016, 18:42 ET | About: LendingClub... (LC) | By: Eric Jhonsa, SA Eye on Tech, SA News Editor [Contact this editor with comments or a news tip]

Reuters reports Renaud Laplanche, who last month stepped down as LendingClub's (NYSE:LC) CEO due to the circumstances surrounding a loan sale, is talking to P-E firms and banks about financing a takeover of the company.

Shares are up 5.5% after hours to $4.63. They fell 7.4% in regular trading amid news LendingClub had postponed its annual meeting and #2 shareholder Baillie Gifford had liquidated its stake.

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Investors - LC / LC getting bought out already?
« on: May 23, 2016, 10:44:55 AM »
UPDATE 1-Shanda Group reports 11.7 pct stake in LendingClub - Reuters News
23-May-2016 10:16:51 AM
Adds details
May 23 (Reuters) - Affiliates of Singapore-based private investment firm Shanda Group reported an 11.7 percent stake, including call options, in LendingClub Corp LC.N, sending shares of the lending platform operator up as much as 8.8 percent in early trading on Monday.
Shanda Group, headed by billionaire Chinese citizen Chen Tianqiao, has taken the stake in the company at a time when it is embroiled in controversy and trying to attract fresh investment following a slowdown in growth in loan originations.
LendingClub's shares have fallen more than 43 percent since Chief Executive Renaud Laplanche resigned earlier this month after an internal investigation found that the company had knowingly sold an investor $22 million of loans the investor did not want. (Full Story)
LendingClub is by far the largest of the so-called marketplace lenders, which sell their consumer and small-business loans on to investors.
Shanda Asset Management Holdings Ltd, one of the Shanda Group affiliates, said in a regulatory filing that it bought LendingClub shares because "they represented an attractive investment opportunity." (http://1.usa.gov/1WcvnGp)
Shanda Group bought a total of about 29 million LendingClub shares for $148.7 million. Shanda also has call options to buy 15.7 million shares for $11.2 million.
"We have been in discussions with Shanda regarding their investment and we look forward to a continued dialogue with them," a LendingClub spokesman said.
LendingClub's shares were trading at $4.26 in early trading on Monday after closing at $3.99 on Friday.

(Reporting by Sudarshan Varadhan in Bengaluru; Editing by Anil D'Silva and Ted Kerr)

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Investors - LC / Screen Scraping vs. API
« on: November 19, 2014, 09:18:06 AM »
It appears to me that the timing on both is now equal with a possible lag of up to 2 seconds for API access.

 This has caused me to request my first ever LC withdrawal as I will be shifting more money into the Private Placements and not bothering to attempt to beat the averages. This will also free up more time to pursue new and exciting money making opportunities. Good luck to the rest of you.

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Investors - LC / Discover getting into consumer loans
« on: September 04, 2014, 05:35:51 PM »
Just received an offer in the mail from Discover offering me up to a $25K at rates between 6.99% and 18.99% payable in full between 3 and 7 years. This sounds like LC and Prosper. Competition heating up?

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Investors - LC / Average Age Of Portfolio
« on: August 14, 2014, 09:45:24 AM »
I have hit a limit in the ability to roll over daily collections based upon my filter selection criteria , so I have stopped adding to my LC account and continue to add funds only through LC Advisors. ( I understand that I can invest more per note, on the notes passing through my filters, but the size per note is becoming restrictive.)
My question is, if I only reinvest my daily collections  what does the average age of my portfolio become? I only invest in 36 month notes . My current average age of portfolio is 19.6 months and other than a token amount that I invested last week in a moment of dementia, I have not added to the account in over a year.

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General Lending Club Discussion / Lending Club IPO
« on: June 27, 2014, 03:24:49 PM »

WSJ: Lending Club hires banks for IPO

    The WSJ reports Lending Club, owner of a fast-growing P2P lending platform, has hired Goldman and Morgan Stanley (among other banks) to take it public. An offering could arrive by year's end.
    Lending Club was valued at $3.75B in a recent funding round, after getting valued at just $2.3B in a round last year. The company has handled over $4B worth of personal loans (both from individuals and financial firms) over its lifetime, and is looking to expand into additional types of credit.
    This spring, Lending Club bought Springstone Financial, an issuer of loans meant to help parents pay for private school tuition, for $140M.
    Google reportedly took an 8% stake in Lending Club last year.

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