July '08 Release: Better P2P Lending Account Management Features

Posted by Rob Garcia :: July 10, 2008 @ 6:30 am

We are pleased to roll out a few new features that will make our lenders' lives easier:

Monthly Statements

P2P lenders at Lending Club can now see a clear snapshot of their account each month. An account summary shows monthly interest earnings and variation in account value, as well as the asset allocation by loan grade. Detailed cash flow, loan payment and loan performance information is also provided as part of the statements. Monthly statements have been generated retroactively for the full fiscal year.

Account Activity

A new account activity page provides essentially the same information as the monthly statements, for any selected period of time. Lenders can select a beginning date and an end date and retrieve all account activity during that period. Account Activity also provides a full ledger of all transactions, including each and every payment made under each fraction of loan.

Retrieving and Sorting Loans

Lenders can now retrieve their loans by status, grade, portfolio and date, and re-order any subset of their loans based on amount, principal outstanding and payment dates.

Managing Loan Portfolios

Lenders can now create their own "view" of their account by grouping their loans into portfolios based on their own criteria: maturity, risk grade, performance, interest rate, etc. The previous notion of "portfolio" (i.e., a group of loans bought at the same exact time) has now been renamed "order". An order history is also made available to the lenders.

Please send us comments or feedback, or tell us which features we should be working on next. Send your thoughts our way at feedback@lendingclub.com.