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Messages - investny

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31
Investors - LC / Madden case update
« on: June 29, 2016, 03:07:03 AM »
"The decision by the Supreme Court not to review the Second Circuit’s holding in Madden means we’re probably just seeing the very beginning of lawsuits against marketplace lenders, such as LendingClub. Not only are marketplace lenders at risk, but so will be the sponsors and other participants in the securitization of marketplace loans to the extent loans are held unenforceable or interest rates are reduced. Experience shows that when cash flows to investors are reduced, litigation follows.”

http://www.altfi.com/article/2069_supreme_court_rejects_midland_appeal_in_major_blow_to_marketplace_lenders

32
I was hoping for BRV announcement

33
General Lending Club Discussion / Re: Morgan Stanley report?
« on: June 27, 2016, 03:02:41 PM »
Anil and Fred you guys are so advanced with your processes/systems.
I know Anil has his software/website, do you Fred just run things for yourself?

36
General P2P Lending Discussion / Direct Lending Investments
« on: June 15, 2016, 03:33:35 AM »
Have you seen their presentation?
What are your thoughts?
LC vs DLI?

38
General P2P Lending Discussion / Re: Sector Contagion
« on: June 08, 2016, 03:10:36 PM »
Prosper Shuts Off Borrowers From Two Loan Marketing Sites
http://www.wsj.com/articles/prosper-shuts-off-borrowers-from-two-loan-marketing-sites-1465402174

Another article indicating the lack of investor capital is not just Lending Club problem. It appears investors are souring on industry.

It appears that most of the big $ are leaving the P2P. Are we then stupid/too aggressive to still invest or even consider investing into P2P???

BTW you may want to post this in Prosper/LC sub board more people will probably see it there.

39
Investors - LC / Re: Are you investing in new notes at LC
« on: May 26, 2016, 03:16:46 AM »
Some of Wall Street’s biggest banks are making contingency plans to cut their exposure to online consumer loans if the market deteriorates further after the recent crisis at LendingClub Corp.
http://finance.yahoo.com/news/banks-said-devise-plans-cutting-221736954.html

more on Cirrix
http://finance.yahoo.com/news/mack-disrupted-wall-street-waltzed-080007974.html

40
Investors - LC / Re: Are you investing in new notes at LC
« on: May 25, 2016, 03:27:29 AM »
I've stopped. After 6 years I've realized that there are better investments out there that doesn't tie my money up for 3-5 years, and isn't unsecured. I'm going to wind down my account for now and invest in CF RS until LC interest rates go up.

CF RS?

42
Investors - LC / Re: BRV Requests: Responses from Lending Club
« on: May 21, 2016, 10:44:16 PM »
Got this reply


Thank you for your email.
 
We appreciate you taking the time to provide us with your suggestions regarding the bankruptcy remote vehicle. We have forwarded your thoughts and feedback to Scott, our acting CEO.

Loans on the fractional and whole loan platforms are allocated randomly and are assigned based on the relative demand for loans from each group of investors. If you would like access to the whole loan platform to explore it further, please let us know and I would be happy to let you know the next steps.
 
If you have any additional questions or comments please feel free to reach out to us.

Best regards,
Lending Club Investor Services | investing@lendingclub.com

43
Got this reply

Thank you for your email.
 
We appreciate you taking the time to provide us with your suggestions regarding the bankruptcy remote vehicle. We have forwarded your thoughts and feedback to Scott, our acting CEO.

Loans on the fractional and whole loan platforms are allocated randomly and are assigned based on the relative demand for loans from each group of investors. If you would like access to the whole loan platform to explore it further, please let us know and I would be happy to let you know the next steps.
 
If you have any additional questions or comments please feel free to reach out to us.

Best regards,
Lending Club Investor Services | investing@lendingclub.com

44
Investors - LC / Re: BRV Requests: Responses from Lending Club
« on: May 20, 2016, 05:48:25 PM »
I finally received an honest and straightforward response from LC about the BRV issue. Not that the answer is entirely comforting, but appreciate them being open about it.


  Even funds held by us in accounts “in trust for” the holders of Notes may potentially be at risk.


Does that mean even cash in LC account is not protected in any way?

45
Investors - LC / Re: BRV Requests: Responses from Lending Club
« on: May 20, 2016, 01:12:20 AM »
just sent this email

Dear Scott Sanborn,

I think the biggest thing you can do to restore retail investor confidence is to create a Bankruptcy Remote Vehicle and also to have an independent auditor verify equal allocation of notes between whole and fractional marketplaces.

You can read more suggestions from retail investors on this LC forum

http://www.lendacademy.com/forum/index.php?topic=3842.0

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