It’s been awhile since I’ve updated our Lending Club performance so I thought I’d share some details. As you may be aware, we’ve been winding down our holdings there, though we still have a decent chunk of money there (around $2k) and it’s still performing reasonably well.
Last March our portfolio looked like this:
- 266 loans were current
- 146 loans had been paid off
- 3 loans were currently 16-30 days late
- 9 loans were currently 30-120 days late
- 28 loans had defaulted and/or been charged off
and our net annualized return (NAR) stood at 7.6%.
As of now, our portfolio looks like this:
- 202 loans are current
- 205 loans have been paid off
- 0 loans are currently 16-30 days late
- 11 loans are currently 30-120 days late
- 34 loans have defaulted and/or been charged off
with a current NAR of 7.1%.
So yes, our returns have slipped as we’ve faced a steady trickle of defaults, but 7%+ isn’t anything to sneeze at.
In case you’re wondering, it’s been about 20 months since we last bought adding notes to our portfolio so it’s definitely aging. And yes, we’ve faced a steady trickle of defaults as time has gone by. But still, 7%+ isn’t anything to sneeze at.
What about you? If you’ve been investing with Lending Club, how are things going? When reporting your results please be sure to give us an idea of how many notes you’re holding and how long you’ve been at it.