LendingClub provided an investor update in a blog post yesterday that demonstrates the resilience of their borrower base; the company indicated that 90% of prime borrowers are not enrolled in any hardship plans; of those members that enrolled in the two month Skip-a-Pay program nearly 60% had actually made a payment during that time; LendingClub is estimating a 3% internal rate of return for vintages most exposed to the crisis (loans facilitated from Q1 2018 to Q1 2020); they expect losses to peak in Q4 2020 and Q1 2021 based on the structure and timing of hardship plans; for loans being issued today LendingClub is targeting a 5% return. LendingClub
