While updating our investment portfolio last month, I discovered that Lending Club had actually recovered some funds from previously defaulted loans. We’re not talking about a huge amount here — around $18 minus ca. $5 in collection fees — but it was still a welcome occurrence.
The total amount recovered was mostly from a single loan, though I also picked up a few cents here and there from a dozen or so other loans. Clearly, they were only able to get back a small portion of the missing money in these cases, but it’s better than nothing.
As things currently stand, I’m trucking along with a net annualized return of a bit over 7.30%. What about you?