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Service fees

Started by Peter, March 29, 2017, 11:00:00 PM

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I read in a number of LC's public docs that service fees vary by investment channel. From one of the recent 10-Qs:

"Note investors generally pay us a servicing fee equal to 1% of payment amounts received from the borrower. Whole loan purchasers pay a monthly servicing fee of up to 1.3% per annum of the month-end principal balance of loans serviced. Certificate holders do not pay a servicing fee, but pay a monthly management fee of up to 1.5% per annum of the month-end balance of assets under management."

I've been collecting data from the API, and the actual service fee rates (averages) look like this:" alt="" class="bbc_img" />

I'm puzzled about how this corresponds to the written policy.  Fees on F look to be significantly lower than 1%, and W fees are even lower.  Can someone explain?


Here is an example I just looked at via my payments today via this display:" class="bbc_link" target="_blank">

The one % is calculated accurate on the values displayed on my mouse overs.

0.7992717332 Principle from display
0.0991568382 Interest from display
0.9975854096 Total calculated

0.008984285714 One % via my calc

0.0089842857 One % via LC from display


The reason these numbers don't agree is that they are different things.  Much like your local temperature and barometric pressure."> from: nevermore on March 30, 2017, 08:32:31 PM


Rob L

I heard a rumor that LC was in the trial phase of a new category; "Tripartite"; loans split into three equal amounts.
The new "T" class loans would facilitate secutitization for micro banks, and we should shortly begin to see loan classes WTF in the future.

NEW LOANS:   | granbull.eth 0.299 Ξ | primeape.eth 1.500 Ξ | remoraid.eth 0.299 Ξ | ALL