LC now dropping E grade loans

[Debt Free]

Posted on LC's front page today...

Investment Update posted 5/7/2019
As of May 7, 2019, LendingClub stopped offering new grade E Notes except those corresponding to certain previously qualified or approved loans.

Effective July 1, 2019, no grade E Notes or loans will be available on the platform.

[Rob L]

My how times have changed!

[lascott]

https://forum.lendacademy.com/index.php?topic=5131.msg44581#msg88888888Quote"> from: Rob L on May 11, 2019, 09:39:33 AM

[TravelingPennies]

And directly to the point of D & E loans now maturing little wonder there is no demand for the product:

https://i.imgur.com/26wh0Nk.png" alt="" class="bbc_img" />

Half the investors in high interest rate loans suffered returns of 2.5% or less and 10% lost money holding notes to maturity.
Now ask me why my LC money is in a 4% APR federally insured 48 month CD.
LC may as well as eliminate the D grade as well. Who are the buyers after being thrown under the bus?

And if you're an optimist just take a look at the chart from lascott showing NAR by vintage. 2018 (short brown line) is about the lowest in history albeit only 5 months matured. Charge offs have yet to kick in so we will see.