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Lending Club

Discussion in 'Business, Careers & Education' started by imatlas, Apr 25, 2011.

  1. DrCooke

    DrCooke Member

    Messages:
    17
    Joined:
    Apr 15, 2011
    I put about 250-300 in it over the past year. Currently I've been receiving around 7.00 a month (big money) and put into my bank account. Not too bad. So it's definitely legit.
     
  2. coop86

    coop86 Senior member

    Messages:
    122
    Joined:
    Jul 10, 2010
    It does seem like a better place to put money than a savings account, but I'm pretty sure you're in for some trouble if the Fed raises rates. I'm surprised some investment bank isn't buying these up by the 1,000s and trying to sell them like MBSs.
     
  3. imatlas

    imatlas Senior member

    Messages:
    8,518
    Joined:
    May 27, 2008
    Location:
    El Barrio
    It does seem like a better place to put money than a savings account, but I'm pretty sure you're in for some trouble if the Fed raises rates. I'm surprised some investment bank isn't buying these up by the 1,000s and trying to sell them like MBSs.

    Apparently some private portfolio managers have been buying these by the millions (or so LC claims). I'm sure it's only a matter of time before somebody comes up with a way to securitize them.

    If you're solely in it for the income, rising interest rates shouldn't hurt too badly, but it will make reselling of notes more difficult, lowering yield if you're actively trading them.
     

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