A few weeks ago Rob Garcia at Lending Club announced updates to the lending account management features.  I apologize it has taken me this long to cover the update, but I have been busy at work and frankly without lenders having the ability to lend money I was lacking motivation.  Well I got to it this weekend and so I thought I would give a quick writeup…

Monthly Statements

This has been a long time coming.  On page 2 is exactly what I need in order to track Lending Club in Quicken the way I track Prosper in Quicken.  Here is the information on that page for Jan 08 (more interesting than then months since the quiet period began.)

Account Activity

This information is also now available via the account activity tab… Here is my recent activity…

Creating Your Own Portfolio Views

This seems like it might be a good way to group loans so that loan performance could be compared by loan groups. It is up to the account holder to define the “portfolios”. This seems like a good feature for the large lender interested in dissecting their performance; however, there is a major thin data problem for any loan group of less than 35 to 50 loans minimum.

Other

There are some other change when it comes to traversing your account. basically around retrieving and sorting loan while on the Lending Club website…

My Conclusions

Statements were sorely overdue and I am glad to have them. When is this quiet period going to end?

Related posts:

• Big Lending Club News — Quiet Period Underway for Secondary Market UPDATE:  After a second reading I think my assumption about the secondary market is incorrect…  (My own hopes for such a market might have clouded my...
• Lending Club Bonus, Higher Interest Rates, and Website Updates Over the weekend Lending Club updated their website and raised the base interest rate 25 basis points.  They have an incredible 5% bonus if you...
• Lending Club Files S1 with SEC Lending Club has filed an S1 with the SEC (link to S1 filing). It looks to be similar in nature to the Prosper filed an...
• RateLadder’s Desired Lending Club Lender Functionality I believe in index funds and not timing the market.  Most of my investments are in low cost market tracking index finds.  Sure I have some play...
• RateLadder Lending Club Update Another late loan and another withdrawal.  Eagerly awaiting the end of the “quiet period.”  I think competition is good for the market and at the...

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Categories:

Features, Lending Club, Site Review

Tags:

account management, busy at work, conclusions, group loans, lenders, loan performance, long time, money, monthly statements, motivation, portfolios, quiet period