Changes coming to LendingClub?

A short update with what has been going on with LC retail investors.  There has been an awful lot of complaining going on over at the about people not being able to get fully invested in the top notes. While this may be true for people who have large accounts - I can’t imagine people who have <$5k invested (like Brian and I) are having issues.  Peter over at LendAcademy had the opportunity to meet with the CEO and it sounds like changes are coming. Surprisingly - borrower demand does not seem to be an issue.  It seems more like a resource (people/technology) issue.  Keep in mind that they currently only have 275 employees.  Personally, I’d rather see them continue stable growth instead of trying to expand as fast as they can.  We will be sure to post any new features here.  It seems like auto-invest for the masses will be likely.

I’m still very happy with my LendingClub investments and have been watching my NAR creep up with the purchase of more C-F notes.  Currently I haven’t had any notes go late. Now if only my 30 pending review notes would be approved :)

Leave a Reply