Monday, December 26, 2016
Final 2016 Lending Club Update
My LC portfolio value finally reached $10,000 a couple of weeks ago which prompted me to discontinue future contributions for now. I plan on letting things ride for a while and may continue building up my loan balances in a few months.
In the mean time, I do plan on reinvesting all the interest payments I receive.
I have been investing $25 at a time and now have 492 notes up from 421 notes last report. I am continuing to use the automated note selecting mechanism which lets the computer spread the capital across a variety different loan grades.
Right now as you can see above, my current return is 5.50% after all defaults and past due loans have been written down.This is a significant drop from previous months. Obviously this happens when defaults start to rise and hopefully this is a temporary phenomenon. I would like to hope that the Christmas holidays are partially to blame as families can become pretty strapped this time of the year.
Also, my monthly payments have increased to approximately $384.
2016 Net Annualized Returns
July --- 6.77%
August --- 6.33%
September --- 6.65%
October --- 6.76%
December --- 5.50%