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LC have sent out their RWT Certificates already.... 
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No surprise they wanted to close Lending Crowd's public operations
FY24 numbers on 6 figure portfolio:
Gross Interest `21,000
RWT `4500
Fees `4500
Collection costs `250
Bad Debt writeoff `4000
This is on a good portfolio whose 12%+ NAR dropped to 10.84% this FY. And we have a ways to go yet before all (`200) loans are paid off...
What did the investor make?
How to avoid public scrutiny, public discussion on performance, loan quality, loan management?
Shut shop!
Shut public discussion!
Go scot free...!
Well done Lending Crowd!!
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Meanwhile the fee gouging continues...
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Member
 Originally Posted by beacon
How to avoid public scrutiny, public discussion on performance, loan quality, loan management?
Shut shop!
Shut public discussion!
Go scot free...!
Well done Lending Crowd!!
Welllllll you could argue that shutting shop for that reason was the sensible and morally correct thing to do. If the alternative was to drag more investors in to an investment that they knew was struggling or likely to struggle in the near future? At least this way investors got an out and most are hopefully reasonably happy with the returns. Not like many other financial company failures where the punters are left with nothing but a sour taste and puckered butt cheeks.
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