Did payments not post today?

[SarahV]

By my calculations, notes with a date of 3/4 should have posted to my account today. But 90% of my notes dated 3/4 are still "processing" ~4 hours after they normally would post a payment. Is anyone else seeing this, or did I have incredibly bad luck with late-paying notes today? 

[Randawl]

A similar percentage of mine are in the same state.  I wouldn't worry that our portfolios are on the brink of collapse.  I think LC is experiencing a processing delay themselves because some of the note payments (according to my account activity) completed on the 6th or 7th (according to the note detail) but were not posted until yesterday (Mar. 8th).
The ~10% or so that completed Mar. 8th were posted Mar. 8th, which is unusual.

[SarahV]

I haven't had a late note in ages, and just yesterday I was trying to figure out how long my streak was. So when this happened I was thinking maybe I had jinxed it....   I haven't seen any other anomalies lately, I check every day. On Thursday all the notes that were due 3/1, 3/2, and 3/3 processed normally as far as I could tell.

The 3/4 notes still haven't processed. Could be a good time to pick up some bargains if people start thinking they're late and put them up for sale. But then again if they process by Monday, all the sales would cancel anyway.

[yaoyao]

I only have 2 notes on 3/4, neither of them was posted yesterday.  However, two 3/4-note purchases got cancelled due to payment on 3/8.  It looks like that only part of 3/4 notes got posted yesterday. 

[MTaylor]

Of 19 notes due 3/4, I had 2 process yesterday. The rest are showing as processing.

[Lovinglifestyle]

Are your 3/3s also processing or are they posted?  My 3/3s onward are all processing.

[MTaylor]

Weird. Now, a few hours later,
14 of the 19 are showing up as "Completed in Grace Period" on 3/9.
2 are showing up as "In Grace Period."

There's got to be some kind of glitch. I don't believe everyone suddenly decided to pay 1 day late.

[Randawl]

All of my 3/4's have now processed.

Oddly, I'd say half othem are showing up as completed in grace period as noted by MTaylor, which is strange.

Also unusual is that some of the notes that were new issues are still showing the full principle balance owed, despite the payment being processed.

[SarahV]

@Lovinglifestyle: All of my 3/3 notes processed on Thursday like they were supposed to.
@MTaylor: I'm seeing the same thing, "completed in grace period" and they have all completed their payment now. I really hope this is sorted out ASAP because it would seriously hurt the resale value of those notes.

[MTaylor]

Also unusual is that some of the notes that were new issues are still showing the full principle balance owed, despite the payment being processed.

I find that to be the case with all payments. There is a lag, sometimes as long as 24 hours, between when the payment is shown as completed and the $ shows up in the account/the principal amount is updated. During this time the overall account balance is artificially lowered and then goes up again once the payments hit the account. I find it disconcerting.

[SkaXc0re77]

All of my 3/4 notes are completed in grace period now also.
And my one 3/5 note is now on a payment plan and is now set to pay the 11th.  His payment failed on the 8th and they contacted him... YAY

I don't think all of the funds have hit my account yet tho.

 

[Show Me The $]

Does anyone on the forum who is in touch with lC on this issue? This should not be!

[Peter]

Does anyone on the forum who is in touch with lC on this issue? This should not be!

Lending Club definitely know about this issue. I have been copied on a couple of different emails from investors on Friday and Saturday.

[SkaXc0re77]

hopefully today they sort it out.  Still showing in grace period for my 3/4's

[MTaylor]

Also, payments from 3/4 still not showing up in "Available cash."