LendingClub (LC) 10-K 22 Feb 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Feb. 18, 2016	Jun. 30, 2015
Document And Entity Information [Abstract]
Entity Registrant Name	LENDINGCLUB CORP
Entity Central Index Key	1,409,970
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		381,429,127
Trading Symbol	LC
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 4,097,335,594

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 623,531	$ 869,780
Restricted cash	80,733	46,763
Securities available for sale	297,211	0
Loans at fair value (includes $3,022,001 and $1,772,407 from consolidated trust, respectively)	4,556,081	2,798,505
Accrued interest receivable (includes $24,477 and $15,209 from consolidated trust, respectively)	38,081	24,262
Property, equipment and software, net	55,930	27,051
Intangible assets, net	30,971	36,302
Goodwill	72,683	72,592
Other assets	38,413	14,799
Total assets	5,793,634	3,890,054
Liabilities
Accounts payable	5,542	5,892
Accrued interest payable (includes $26,719 and $16,989 from consolidated trust, respectively)	40,244	26,964
Accrued expenses and other liabilities	61,243	31,620
Payable to investors	73,162	38,741
Notes and certificates, at fair value (includes $3,034,586 and $1,772,407 from consolidated trust, respectively)	4,571,583	2,813,618
Total liabilities	4,751,774	2,916,835
Stockholders’ Equity
Common stock, $0.01 par value; 900,000,000 shares authorized at December 31, 2015 and 2014; 379,716,630 and 371,443,916 shares issued and outstanding at December 31, 2015 and 2014, respectively	3,797	3,714
Additional paid-in capital	1,127,952	1,052,728
Accumulated deficit	(88,218)	(83,223)
Accumulated other comprehensive loss	(1,671)	0
Total stockholders’ equity	1,041,860	973,219
Total liabilities and stockholders’ equity	$ 5,793,634	$ 3,890,054

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2014	Dec. 31, 2013
Member Loans at fair value	$ 2,798,505
Accrued interest receivable from consolidated Trust	24,262
Accrued interest payable from consolidated Trust	26,964
Notes and certificates, at fair value from consolidated Trust	$ 2,813,618
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	379,716,630	371,443,916
Common stock, shares outstanding	379,716,630	371,443,916
Consolidated Entities
Member Loans at fair value	$ 3,022,001	$ 1,772,407
Accrued interest receivable from consolidated Trust	24,477	15,209
Accrued interest payable from consolidated Trust	26,719	16,989
Notes and certificates, at fair value from consolidated Trust	$ 3,034,586	$ 1,772,407

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Operating revenue:
Transaction fees		$ 373,508	$ 197,124	$ 85,830
Servicing fees		32,811	11,534	3,951
Management fees		10,976	5,957	3,083
Other revenue (expense)		9,402	(1,203)	5,111
Total operating revenue		426,697	213,412	97,975
Net interest income (expense):
Total interest income		552,972	354,453	187,507
Total interest expense		(549,740)	(356,615)	(187,447)
Net interest income (expense)		3,232	(2,162)	60
Fair value adjustments, loans, notes and certificates		14	(122)	(33)
Net interest income (expense) and fair value adjustments		3,246	(2,284)	27
Total net revenue		429,943	211,128	98,002
Operating expenses:
Sales and marketing	[1]	171,526	85,652	37,431
Origination and servicing	[1]	61,335	37,326	17,978
Engineering and product development	[1]	77,062	38,518	15,528
Other general and administrative	[1]	122,182	81,136	19,757
Total operating expenses	[1]	432,105	242,632	90,694
Income (loss) before income tax expense		(2,162)	(31,504)	7,308
Income tax expense		2,833	1,390	0
Net income (loss)		$ (4,995)	$ (32,894)	$ 7,308
Basic net loss per share attributable to common stockholders ($ per share)		$ (0.01)	$ (0.44)	$ 0
Diluted net loss per share attributable to common stockholders ($ per share)		$ (0.01)	$ (0.44)	$ 0
Weighted-average common shares - Basic (shares)		374,872,118	75,573,742	51,557,136
Weighted-average common shares - Diluted (shares)		374,872,118	75,573,742	81,426,976
[1]	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1. Basis of Presentation” for additional information.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (4,995)	$ (32,894)	$ 7,308
Change in net unrealized loss on securities available for sale	(1,671)	0	0
Other comprehensive loss, before tax	(1,671)	0	0
Income tax effect	0	0	0
Other comprehensive loss, net of tax	(1,671)	0	0
Comprehensive income (loss)	$ (6,666)	$ (32,894)	$ 7,308

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Thousands	Total	Series A	Series F Convertible Preferred Stock	Convertible Preferred Stock	Convertible Preferred StockSeries A	Convertible Preferred StockSeries F Convertible Preferred Stock	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income	Accumulated Deficit
Beginning Balances (in shares) at Dec. 31, 2012				(239,365,432)			(45,167,448)		(70,560)
Beginning Balances at Dec. 31, 2012	$ 52,210			$ 103,023			$ 123	$ 6,713	$ (12)	$ 0	$ (57,637)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants to purchase convertible preferred stock (in Shares)					829,356
Exercise of warrants to purchase Series A convertible preferred stock		$ 221			$ 221
Exercise of warrants to purchase common stock (in shares)							957,876
Exercise of warrants to purchase common stock	150						$ 2	148
Stock-based compensation and warrant expense	6,490							6,490
Issuance of common stock upon exercise of options (in shares)							8,931,876
Issuance of common stock upon exercise of options	1,715						$ 23	1,692
Change in net unrealized loss on securities available for sale	0
Other (in shares)							(70,560)		70,560
Other							$ (10)	(2)	$ 12
Net income (loss)	7,308										7,308
Ending Balances (in shares) at Dec. 31, 2013				(240,194,788)			(54,986,640)		0
Ending Balances at Dec. 31, 2013	68,094			$ 103,244			$ 138	15,041	$ 0	0	(50,329)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercise of warrants to purchase convertible preferred stock (in Shares)					572,161
Exercise of warrants to purchase Series A convertible preferred stock		$ 66			$ 66
Exercise of warrants to purchase common stock (in shares)							1,818,174
Exercise of warrants to purchase common stock	512						$ 18	494
Stock-based compensation and warrant expense	39,024			9,176				29,848
Issuance stock for cash, net of issuance costs	827,680		$ 64,803			$ 64,803	$ 590	827,090
Issuance of stock for cash net of issuance costs (in shares)						6,390,556	59,000,000
Issuance of Series F convertible preferred stock for the acquisition of Springstone (in shares)						2,443,930
Issuance of Series F convertible preferred stock for the acquisition of Springstone			$ 2,762			$ 2,762
Issuance of common stock upon exercise of options (in shares)							6,037,667
Issuance of common stock upon exercise of options	3,564						$ 60	3,504
Conversion of preferred stock to common stock upon initial public offering				$ (180,051)			$ 2,496	177,555
Conversion of preferred stock to common stock upon initial public offering (in shares)				(249,601,435)			249,601,435
Early exercise liability related to unvested stock options	(392)							(392)
Par value adjustment for stock splits							$ 412	(412)
Change in net unrealized loss on securities available for sale	0
Net income (loss)	(32,894)										(32,894)
Ending Balances (in shares) at Dec. 31, 2014				0			(371,443,916)		0
Ending Balances at Dec. 31, 2014	973,219			$ 0			$ 3,714	1,052,728	$ 0	0	(83,223)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation and warrant expense	$ 56,005			$ 0				56,005
Issuance of common stock upon exercise of options (in shares)	7,579,324						7,862,705
Issuance of common stock upon exercise of options	$ 13,473						$ 79	13,394
ESPP purchase shares (in shares)	410,009			0			410,009		0
ESPP purchase shares	$ 5,091			$ 0			$ 4	5,087	$ 0		0
Change in net unrealized loss on securities available for sale	(1,671)			$ 0			$ 0	0	$ 0	(1,671)	0
Excess tax benefit from share-based award activity	738							738
Net income (loss)	(4,995)										(4,995)
Ending Balances (in shares) at Dec. 31, 2015				0			(379,716,630)		0
Ending Balances at Dec. 31, 2015	$ 1,041,860			$ 0			$ 3,797	$ 1,127,952	$ 0	$ (1,671)	$ (88,218)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Cash Flows from Operating Activities:
Net income (loss)	$ (4,995)	$ (32,894)	$ 7,308
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Net fair value adjustments of loans, notes and certificates	(14)	122	33
Change in fair value of loan servicing liabilities	(5,194)	3,037	936
Change in fair value of loan servicing assets	3,803	(1,647)	(534)
Stock-based compensation, net	51,222	37,150	6,490
Excess tax benefit from share-based awards	(738)	0	0
Depreciation and amortization	21,578	10,258	1,663
(Gain) loss on sales of loans	(4,885)	3,569	(3,862)
Other, net	(129)	198	0
Loss on disposal of property, equipment and software	790	553	30
Purchase of whole loans to be sold	(3,358,611)	(1,733,614)	(442,362)
Proceeds from sales of whole loans	3,358,611	1,730,045	446,224
Net change in operating assets and liabilities:
Accrued interest receivable	(13,819)	(8,287)	(10,454)
Other assets	(15,857)	13,270	(21,021)
Due from related parties	(188)	(112)	(240)
Accounts payable	(598)	2,357	1,788
Accrued interest payable	13,280	9,223	11,063
Accrued expenses and other liabilities	30,485	16,692	4,077
Net cash provided by operating activities	74,741	49,920	1,139
Cash Flows from Investing Activities:
Purchase of loans	(3,865,565)	(2,156,382)	(1,618,404)
Principal payments received on loans	1,804,719	1,054,357	511,232
Proceeds from recoveries and sales of charged-off loans	26,256	7,960	1,716
Purchases of securities available for sale	(419,173)	0	0
Proceeds from sales of securities available for sale	120,420	0	0
Payments for business acquisition, net of cash acquired	0	(109,464)	0
Net change in restricted cash	(33,970)	(32,974)	(4,724)
Purchases of property, equipment and software, net	(39,387)	(20,572)	(10,435)
Net cash used in investing activities	(2,406,700)	(1,257,075)	(1,120,615)
Cash Flows from Financing Activities:
Change in payable to investors	34,421	34,308	1,868
Proceeds from issuances of notes and certificates	3,861,995	2,156,019	1,618,269
Principal payments on notes and certificates	(1,800,859)	(1,049,982)	(504,330)
Payments on notes and certificates from recoveries/sales of related charged-off loans	(26,143)	(7,929)	(1,669)
Proceeds from term loan, net of debt discount	0	49,813	0
Payment for debt issuance costs	(1,296)	(1,218)	0
Principal payment on term loan	0	(50,000)	0
Proceeds from initial public offering, net of offering costs	0	827,680	0
Proceeds from stock options exercises and other	11,670	3,564	1,715
Excess tax benefit from share-based awards	738	0	0
Proceeds from issuance of common stock for ESPP	5,091	0	0
Other financing activities	90	0	0
Net cash provided by financing activities	2,085,710	2,027,636	1,116,224
Net Increase (Decrease) in Cash and Cash Equivalents	(246,249)	820,481	(3,252)
Cash and Cash Equivalents, Beginning of Period	869,780	49,299	52,551
Cash and Cash Equivalents, End of Period	623,531	869,780	49,299
Supplemental Cash Flow Information:
Cash paid for interest	536,448	345,919	176,195
Accruals for property, equipment and software	2,975	832	2,275
Issuance of Series F convertible preferred stock	0	2,762	0
Conversion of preferred stock to common stock	0	180,051	0
Accrual of prepaid offering costs	0	2,688	0
Series F Convertible Preferred Stock
Cash Flows from Financing Activities:
Proceeds from issuance of Series F convertible preferred stock, net of issuance costs	0	64,803	0
Series A and B Preferred Stock
Cash Flows from Financing Activities:
Proceeds from exercise of warrants	0	66	221
Common stock warrants
Cash Flows from Financing Activities:
Proceeds from exercise of warrants	$ 3	$ 512	$ 150

Basis of Presentation

Basis of Presentation	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation LendingClub Corporation (Lending Club) is an online marketplace connecting borrowers and investors. LC Advisors, LLC (LCA), is a registered investment advisor with the Securities and Exchange Commission (SEC) and wholly-owned subsidiary of Lending Club that acts as the general partner for certain private funds and advisor to separately managed accounts (SMAs). Springstone Financial, LLC (Springstone), is a wholly-owned subsidiary of Lending Club that facilitates education and patient finance loans. LC Trust I (the Trust) is an independent Delaware business trust that acquires loans from Lending Club and holds them for the sole benefit of certain investors that have purchased a trust certificate (Certificates) issued by the Trust and that are related to specific underlying loans for the benefit of the investor. The accompanying consolidated financial statements include Lending Club, the Trust, LCA and Springstone (collectively referred to as the Company, we, or us). All intercompany balances and transactions have been eliminated. These consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for financial information necessary for the fair statement of the results and financial position for the periods presented. These accounting principles require management to make certain estimates and assumptions that affect the amounts in the accompanying financial statements. Actual results may differ from those estimates. In the fourth quarter of 2015, the Company disaggregated the expense previously reported as “General and administrative” into “Engineering and product development” and “Other general and administrative” expense. Additionally, the Company reclassified certain operating expenses between “Sales and marketing,” “Origination and servicing,” “Engineering and product development” and “Other general and administrative” expense to align such classification and presentation with how the Company currently manages the operations and these expenses. These changes had no impact to “Total operating expenses.” Prior period amounts have been reclassified to conform to the current presentation. On December 11, 2014, the Company completed its initial public offering (IPO) and registered 66,700,000 shares of common stock at $15.00 per share for an aggregate offering price of approximately $1.0 billion . On April 17, 2014, Lending Club acquired all the outstanding limited liability company interests of Springstone. The Company’s consolidated financial statements include Springstone’s results of operations, statement of financial position, and statement of cash flows from this date (see Note 19 – Springstone Acquisition ). On April 15, 2014, a 2 -for -1 equity stock split approved by the Company’s board of directors became effective, in which each outstanding share of each series or class of equity capital stock was split into two outstanding shares of such series or class of equity capital stock. Additionally, another 2 -for -1 equity stock split approved by the Company’s board of directors became effective on September 5, 2014, in which each outstanding share of each series or class of equity capital stock was split into two outstanding shares of such series or class of equity capital stock. All share and per share data has been adjusted to reflect these stock splits. The par value of each of the outstanding shares remains the same at $0.01 .

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Revenue Recognition Transaction Fee Revenue: Transaction fees are paid by issuing banks or patient service providers to Lending Club for the work Lending Club performs through its platform and Springstone’s platform. These fees are recognized as a component of operating revenue at the time of loan issuance. The amount of these fees is based upon the loan amount and other terms of the loan, including credit grade, maturity and other factors. Since Lending Club can estimate refunds for loan cancellations based on its refund experience, the Company records transaction fee revenue net of estimated refunds at the time of loan issuance. Servicing Fees: Note investors, certain certificate holders and whole loan purchasers typically pay Lending Club a servicing fee on each payment received from a borrower or on the investors’ month-end principal balance of loans serviced. The servicing fee compensates the Company for managing payments from borrowers and to investors and maintaining investors’ account portfolios. The Company records servicing fees as a component of operating revenue when received. Servicing fees can be, and have been, modified or waived at management’s discretion. Servicing fees also include the change in fair value of loan servicing assets and liabilities. Management Fees : Qualified investors can invest in investment funds managed by LCA. LCA charges limited partners in the investment funds a management fee payable monthly in arrears, based on a limited partner’s capital account balance at month end. LCA also earns management fees on SMAs, payable monthly in arrears, based on the month-end balances in the SMA accounts. Management fees are a component of operating revenue in the consolidated statements of operations and are recorded as earned. Management fees can be, and have been, modified or waived at the discretion of LCA. Other Revenue (Expense) : Other revenue (expense) consists primarily of gains and losses on sales of whole loans and referral revenue earned from partner companies when customers referred by Lending Club complete specified actions with them. Whole Loan Sales Under loan sale agreements, the Company sells all of its right, title and interest in certain loans. At the time of such sales, the Company simultaneously enters into loan servicing agreements under which it acquires the right to service the loans. The Company calculates a gain or loss on the whole loan sale, including the acquisition of loan servicing rights, based on the net proceeds from the whole loan sale, minus the net investment in the loans being sold. Additionally, as needed, the Company will record a liability for significant estimated post-sale obligations or contingent obligations to the purchasers of the loans. From January 1, 2013 through June 30, 2013, transaction fees and direct loan origination and acquisition costs for loans that were sold were deferred and included in the overall net investment in the loans and then included in the gain or loss on the sale of such loans. Accordingly, the transaction fees for such loans were not included in transaction fee revenue and the direct loan origination costs for such loans were not included in operating expenses. A gain or loss on the whole loan sales was recorded on the sale date in “Other revenue (expense).” Effective July 1, 2013, the Company elected the fair value option for whole loans acquired that are designated to be sold. All transaction fees and all direct costs incurred in the origination process are recognized in earnings as earned or incurred and are not deferred. As such, beginning July 1, 2013, transaction fees for whole loans sold are included in “Transaction fees” and direct loan origination costs are included in “Origination and servicing” operating expense in the consolidated statements of operations. Gains and losses from whole loan sales are recorded in “Other revenue (expense)” in the consolidated statements of operations. Net Income (Loss) Per Share Earnings (loss) per share (EPS) is the amount of net income (loss) available to each share of common stock outstanding during the reporting period. Diluted EPS is the amount of net income (loss) available to each share of common stock outstanding during the reporting period, adjusted to include the effect of potentially dilutive common shares. Potentially dilutive common shares are excluded from the computation of diluted EPS in periods in which the effect would be antidilutive. Potentially dilutive common shares include incremental shares issued for stock options, convertible preferred stock and warrants to purchase common stock. The Company calculates EPS using the two-class method, when applicable. The two-class method allocates net income (loss) that otherwise would have been available to common stockholders to holders of participating securities. All participating securities are excluded from basic weighted-average common shares outstanding. Prior to the Company’s IPO, the Company considered all series of its convertible preferred stock to be participating securities due to their non-cumulative dividend rights. As such, net income (loss) allocated to these participating securities, which included participation rights in undistributed earnings, was subtracted from net income (loss) to determine total undistributed net income (loss) to be allocated to common stockholders. In conjunction with the Company’s IPO on December 11, 2014, all of its convertible preferred stock converted to common stock and all warrants to purchase convertible preferred stock were converted to warrants to purchase common stock. The Company had no participating securities as of December 31, 2015 or 2014. Cash and Cash Equivalents Cash and cash equivalents include the Company’s unrestricted deposits with financial institutions in checking, money market and short-term certificate of deposit accounts. The Company considers all highly liquid investments with stated maturity dates of three months or less from the date of purchase to be cash equivalents. Restricted Cash Restricted cash consists primarily of checking, money market and certificate of deposit accounts that are: (i) pledged to or held in escrow by the Company’s correspondent banks as security for transactions processed on or related to Lending Club’s platform; (ii) pledged through a credit support agreement with a certificate holder or (iii) investors’ funds transactions-in-process that have not yet been applied to their accounts on the platform and transferred to segregated bank accounts that hold investors’ funds. Investor cash balances (excluding transactions-in-process) are held in segregated bank or custodial accounts and are not commingled with the Company’s monies or held on the Company’s balance sheet. Securities Available for Sale Securities available for sale are recorded at fair value and unrealized gains and losses are reported, net of taxes, in accumulated other comprehensive income (loss) included in stockholders’ equity unless management determines that a security is other-than-temporarily impaired (OTTI). Realized gains and losses from sales of securities available for sale are determined on a specific identification basis and are included in other revenue (expense). Purchases and sales of securities available for sale are recorded on trade date. Management evaluates whether securities available for sale are OTTI on a quarterly basis. Debt securities with unrealized losses are considered OTTI if the Company intends to sell the security or if it is more likely than not that it will be required to sell such security before any anticipated recovery. If management determines that a security is OTTI under these circumstances, the impairment recognized in earnings is measured as the entire difference between the amortized cost and then-current fair value. A security is also OTTI if management does not expect to recover all of the amortized cost of the security. In this circumstance, the impairment recognized in earnings represents estimated credit loss, and is measured by the difference between the present value of expected cash flows and the amortized cost of the security. Management utilizes cash flow models to estimate the expected future cash flow from the securities to estimate the credit loss when necessary. Expected cash flows are discounted using the security’s effective interest rate. The evaluation of whether the Company expects to recover the amortized cost of a security is inherently judgmental. The evaluation includes the assessment of several security performance indicators, including the magnitude and duration of the unrealized loss and whether the Company has received all scheduled principal and interest payments. There were no impairment charges recognized during 2015. Loans, Notes and Certificates at Fair Value The Company has elected fair value accounting for loans and related notes and the Certificates. The fair value election for these loans, notes and certificates results in symmetrical accounting in that changes in the fair value of loans are generally offset by equal changes in the fair values of notes and certificates, given the payment dependent structure of the notes and certificates. Changes in the fair value of loans, notes and certificates are recorded in fair value adjustments in the period of the fair value changes. The Company places loans on non-accrual status at 120 days past due. Servicing Assets and Liabilities at Fair Value The Company records servicing assets and liabilities at their estimated fair values when it sells whole loans to unrelated third-party whole loan buyers or when the servicing contract commences. The gain or loss on a loan sale is recorded in other revenue (expense) in the consolidated statements of operations while the component of the gain or loss that is based on the degree to which the contractual loan servicing fee is above or below an estimated market rate loan servicing fee is recorded as an offset in servicing assets or liabilities. Servicing assets and liabilities are recorded in “Other Assets” and “Accrued Expenses and Other Liabilities,” respectively, on the consolidated balance sheets. The Company uses the fair value measurement method to account for changes in servicing assets and liabilities. As such, changes in the fair value of servicing assets and liabilities are reported in “Servicing Fees” in the consolidated statements of operations in the period in which the changes occur. Fair Value of Assets and Liabilities The Company uses fair value measurement to record loans, notes, certificates and servicing assets and liabilities at fair value on a recurring basis. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy includes the following three-level classification, which is based on the market observability of the inputs used for estimating the fair value of the assets or liabilities being measured: Level 1 — Quoted market prices in active markets for identical assets or liabilities. Level 2 — Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs). Level 3 — Inputs that are unobservable in the market but reflective of the types of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow methodologies or similar techniques. The Company utilizes discounted cash flow valuation techniques based on its estimate of future cash flows that are expected to occur over the life of a financial instrument. The Company considers unobservable inputs to be significant, if, by their exclusion, the estimated fair value of a Level 3 asset or liability would be impacted by a significant percentage change, or based on qualitative factors such as the nature of the instrument and significance of the unobservable inputs relative to other inputs used within the valuation. We estimate the fair values of loans and related notes and certificates using a discounted cash flow valuation methodology. The fair valuation methodology considers projected prepayments and uses the historical actual defaults, losses and recoveries on our loans to project future losses and net cash flows on loans. The Company uses the fair value measurement method to account for changes in servicing assets and liabilities. Significant assumptions used in valuing the Company’s servicing assets and liabilities were as follows: The Company uses a discounted cash flow model to estimate the fair values of loan servicing assets and liabilities. The cash flows in the valuation model represent the difference between the contractual servicing fees charged to whole loan buyers and an estimated market servicing fee. Since contractual servicing fees are generally based on the monthly unpaid principal balance of the underlying loans, the expected cash flows in the model incorporate estimated net expected losses and expected prepayments. Securities Available for Sale The Company uses quoted prices in active markets to measure the fair value of securities available for sale, when available.When utilizing market data and bid-ask spreads, the Company uses the price within the bid-ask spread that best represents fair value. When quoted prices do not exist, the Company uses prices obtained from independent third-party pricing services to measure the fair value of securities available for sale. The Company’s primary independent pricing service provides prices based on observable trades and discounted cash flows that incorporate observable information, such as yields for similar types of securities (a benchmark interest rate plus observable spreads) and weighted-average maturity for the same or similar securities. The Company compares the prices obtained from its primary independent pricing service to the prices obtained from the additional independent pricing services to determine if the price obtained from the primary independent pricing service is reasonable. The Company does not adjust the prices received from independent third-party pricing services unless such prices are inconsistent with the definition of fair value and result in a material difference in the recorded amounts. Financial Instruments Not Recorded at Fair Value Financial instruments not recorded at fair value on a recurring basis include cash and cash equivalents, restricted cash, accrued interest receivable, deposits, accrued interest payable, accounts payable and payables to investors. These assets and liabilities are recorded at historical cost. Given the short-term nature of these instruments, the Company considers the amortized cost to approximate their fair values. Accrued Interest Accrued interest income on loans is calculated based on the contractual interest rate of the loan and recorded as interest income as earned. Loans are placed on non-accrual status upon reaching 120 days past due. When a loan is placed on non-accrual status, the Company stops accruing interest and reverses all accrued but unpaid interest as of such date. Property, Equipment and Software, net Property, equipment and software consists of internally developed and purchased software, computer equipment, leasehold improvements, furniture and fixtures and construction in process, which are recorded at cost, less accumulated depreciation and amortization. Computer equipment, purchased software and furniture and fixtures are depreciated or amortized on a straight line basis over two to five years . Leasehold improvements are amortized over the shorter of the lease term excluding renewal periods or the estimated useful life. Internally developed software is amortized on a straight line basis over the project’s estimated useful life, generally three years . Internally developed software is capitalized when preliminary development efforts are successfully completed and it is probable that the project will be completed and the software will be used as intended. Capitalized costs consist of salaries and payroll related costs for employees and fees paid to third-party consultants who are directly involved in development efforts. Costs related to preliminary project activities and post implementation activities including training and maintenance are expensed as incurred. Costs incurred for upgrades and enhancements that are considered to be probable to result in additional functionality are capitalized. The Company evaluates potential impairments of its property, equipment and software whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Events or changes in circumstances that could result in impairment include, but are not limited to, underperformance relative to historical or projected future operating results, significant changes in the manner of use of the assets or the strategy for the Company’s overall business and significant negative industry or economic trends. The determination of recoverability of these assets is based on whether an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition exceed the net book value of the asset. If the asset is not recoverable, measurement of an impairment loss is based on the fair value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value. Consolidation of Variable Interest Entities A variable interest entity (VIE) is a legal entity that does not have sufficient equity at risk to finance its own operations, whose equity holders do not have the power to direct the activities most significantly affecting the economic outcome of those activities, or whose equity holders do not share proportionately in the losses or receive the residual returns of the entity. The determination of whether an entity is a VIE requires a significant amount of judgment. When the Company has a controlling financial interest in a VIE, it must consolidate the results of the VIE’s operations into its consolidated financial statements. The determination of whether a controlling financial interest exists also requires judgment. A controlling financial interest exists if we have both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance and the obligation to absorb losses or receive benefits that could be potentially significant to the VIE. Management regularly reviews and reconsiders its previous conclusion regarding the status of an entity as a VIE and whether we are required to consolidate such VIE in the consolidated financial statements. Goodwill and Intangible Assets Goodwill represents the fair value of acquired businesses in excess of the aggregate fair value of the identified net assets acquired. Goodwill is not amortized but is tested for impairment annually or whenever indications of impairment exist. Our annual impairment testing date is April 1. Impairment exists whenever the carrying value of goodwill exceeds its implied fair value. Adverse changes in impairment indicators such as loss of key personnel, increase regulatory oversight, or unplanned changes in our operations could result in impairment. We did not recognize any goodwill impairment for the years ended December 31, 2015 and 2014 . We did not have any goodwill during the year ended December 31, 2013 . We can elect to qualitatively assess goodwill for impairment if it is more likely than not that the fair value of a reporting unit (generally defined as a component of a business for which financial information is available and reviewed regularly by management) exceeds its carrying value. A qualitative assessment may consider macroeconomic and other industry-specific factors, such as trends in short-term and long-term interest rates and the ability to access capital or company-specific factors, such as market capitalization in excess of net assets, trends in revenue generating activities and merger or acquisition activity. If we do not qualitatively assess goodwill we compare a reporting unit’s estimated fair value to its carrying value. Estimated fair value of a reporting unit is generally established using an income approach based on a discounted cash flow model or a market approach, which compares each reporting unit to comparable companies in their respective industries. Intangible assets are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight-line or accelerated methods of amortization. Intangible assets are reviewed for impairment quarterly and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have any indefinite-lived intangible assets. Debt The Company has elected to record certain costs directly related to issuing its unsecured revolving credit facility as an asset included in “Other Assets” on the Company’s consolidated balance sheets. These costs are amortized as interest expense over the contractual term of the unsecured revolving credit facility. Stock-based Compensation Stock-based compensation includes expense associated with restricted stock units, stock option grants, and our employee stock purchase plan (ESPP), as well as expense associated with stock issued related to our acquisition of Springstone. Stock-based compensation expense is based on the grant date fair value of the award, net of expected forfeitures, which are based on our historical experience. If actual forfeitures differ significantly from our estimates, stock-based compensation expense and our results of operations could be materially impacted. The fair value of restricted stock units is based on the closing price of our common stock on the date of grant. To determine the fair value of stock options and ESPP purchase rights, we use the Black-Scholes option-pricing model, with inputs for the fair value of our common stock, expected common stock price volatility over the expected life of the stock options or ESPP purchase rights, expected term of the stock option or ESPP purchase right, risk-free interest rates and expected dividends. Prior to the Company’s IPO, the fair value of its shares of common stock was established by the board of directors. The Company’s board of directors relied upon valuations provided by third party valuation firms and other factors, including, but not limited to, the current status of the technical and commercial success of the Company’s operations, the Company’s financial condition, the stage of the Company’s product design and development, and competition to establish the fair value of the Company’s common stock at the time of grant of the option. As we do not have a significant trading history for our common stock, the expected stock price volatility for our common stock is estimated by reference to the average historical stock price volatility for our industry peers. The industry peer group used to estimate our volatility includes small, mid and large capitalization companies in the consumer finance, investment management and technology industries taking into account the similarity in size, stage of life cycle and financial leverage. The expected term represents the period of time that stock options are estimated to be outstanding, giving consideration to the contractual terms of the options, vesting schedules, and expectations of future exercise patterns and post-vesting employee termination behavior. Given our limited operating history, the simplified method is applied to calculate the expected term. We use a risk-free interest rate based on the U.S. Treasury yield for a term consistent with the expected life of the awards in effect at the time of grant. We have never declared or paid any cash or other dividends and do not anticipate paying cash or other dividends in the foreseeable future. Consequently, we use an expected dividend yield of 0.0% in our option-pricing model. Stock-based compensation expense related to stock options and restricted stock units that are expected to vest is recognized over the vesting period of the award, which is generally four years , on a straight-line basis. The compensation expense related to ESPP purchase rights is recognized on a straight-line basis over the requisite service period, which is generally six months . Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company accounts for the realization of excess tax benefits for stock-based compensation based on the “with-and-without” approach, excluding the measurement of any indirect effects. Equity will be increased if and when such deferred tax assets are ultimately realized. The Company accounts for uncertain tax positions using a two-step process whereby (i) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position (“more-likely-than-not recognition threshold”) and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, it recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of provision for income tax in the consolidated statements of operations. Use of Estimates The preparation of the Company’s consolidated financial statements and related disclosures requires management to make judgments, assumptions and estimates that affect the amounts reported in its consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, assumptions and estimates include but are not limited to the following: (i) fair value determinations for servicing assets and liabilities; (ii) fair value determinations for loans, notes and certificates; (iii) stock-based compensation expense; (iv) provision for income taxes, net of valuation allowance for deferred tax assets; (v) recoverability of property, equipment and software; (vi) carrying values of goodwill and intangible assets; (vii) consolidation of variable interest entities; and (viii) reserves for contingencies. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material. New Accounting Standards Not Yet Adopted In January 2016, the Financial Accounting Standards Board (FASB) amended guidance related to recognition and measurement of financial instruments, which will be effective January 1, 2018. The amendments change the accounting for equity investments, change disclosure requirements related to instruments at amortized cost and fair value, and clarify how entities should evaluate deferred tax assets for securities classified as available-for-sale. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, earnings per common share (EPS), or cash flows. In November 2015, the FASB amended guidance related to the presentation of deferred income taxes, which will be effective January 1, 2017. The guidance simplified the presentation to require that all deferred income taxes be presented as noncurrent on a classified statement of financial position. The Company does not currently present a classified statement of financial position and accordingly does not expect this guidance to have any impact on its disclosures. In May 2014, the FASB issued new guidance on revenue recognition, which is effective January 1, 2019. The guidance clarifies that revenue from contracts with customers should be recognized in a manner that depicts both the likelihood of payment and the timing of the related transfer of goods or performance of services. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS or cash flows. Adoption of New Accounting Standards In September 2015, the FASB amended existing guidance related to recognition of adjustments to provisional amounts recorded during purchase accounting. Changes recognized during the measurement period will be recognized prospectively as adjustments to goodwill, with corresponding changes in income or expense, such as revised depreciation or amortization, recognized in current period earnings. This amendment was effective January 1, 2016. Since the Company does not currently have any open measurement periods related to a business combination, adoption of this guidance did not have an impact on the Company’s financial position, results of operations, EPS, or cash flows. In April 2015, the FASB issued new guidance amending accounting for customer’s cloud based computing fees, which will be effective January 1, 2016. The guidance changes what a customer must consider in determining whether a cloud computing arrangement contains a software license. If the arrangement contains a software license, the customer would account for fees related to the software license element in accordance with guidance related to internal use software; if the arrangement does not contain a software license, the customer would account for the arrangement as a service contract. The adoption of this guidance did not have an impact on the Company’s financial position, results of operations, EPS, or cash flows. In February 2015, the FASB issued new guidance amending accounting for consolidations, which was effective January 1, 2016. The guidance changes what an investor must consider in determining whether it is required to consolidate an entity in which it holds an interest. The Company is in the process of evaluating the impact of adoption, which is not expected to be material to the Company’s financial position, results of operations, EPS, or cash flows. In June 2014, the FASB issued guidance to clarify accounting for stock-based compensation awards that provide that a performance target could be achieved after the requisite service period, which is effective January 1, 2016. The guidance requires that a performance target that affects vesting, and is achievable after the requisite service period, be treated as a performance condition. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations, EPS, or cash flows.

Net Income (Loss) Per Share and

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders	Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders The following table details the computation of the Company’s basic and diluted net income (loss) per share: Year Ended December 31, 2015 2014 2013 Net income (loss) $ (4,995 ) $ (32,894 ) $ 7,308 Less: Net income allocated to participating securities (1) — — (7,117 ) Net income (loss) available to common stockholders $ (4,995 ) $ (32,894 ) $ 191 Weighted average common shares – Basic 374,872,118 75,573,742 51,557,136 Weighted average effect of dilutive securities: Stock options — — 28,542,404 Warrants — — 1,327,436 Weighted average common shares – Diluted 374,872,118 75,573,742 81,426,976 Net income (loss) per share attributable to common stockholders Basic $ (0.01 ) $ (0.44 ) $ 0.00 Diluted $ (0.01 ) $ (0.44 ) $ 0.00 (1) In a period with net income, both earnings and dividends (if any) are allocated to participating securities. In a period with a net loss, only declared dividends (if any) are allocated to participating securities.

Securities Available for Sale

Securities Available for Sale	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Securities Available for Sale	Securities Available for Sale The Company began purchasing securities available for sale during the second quarter of 2015. The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of December 31, 2015 , were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 217,243 $ 2 $ (1,494 ) $ 215,751 Asset-backed securities 54,543 — (134 ) 54,409 U.S. agency securities 16,602 1 (25 ) 16,578 U.S. Treasury securities 3,489 — (4 ) 3,485 Other securities 7,005 — (17 ) 6,988 Total securities available for sale $ 298,882 $ 3 $ (1,674 ) $ 297,211 A summary of securities available for sale with unrealized losses as of December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 212,018 $ (1,494 ) $ — $ — $ 212,018 $ (1,494 ) Asset-backed securities 54,409 (134 ) — — 54,409 (134 ) U.S. agency securities 14,578 (25 ) — — 14,578 (25 ) U.S. Treasury securities 3,485 (4 ) — — 3,485 (4 ) Other securities 6,988 (17 ) — — 6,988 (17 ) Total securities with unrealized losses (1) $ 291,478 $ (1,674 ) $ — $ — $ 291,478 $ (1,674 ) (1) The number of investment positions with unrealized losses totaled 141 . The contractual maturities of securities available for sale at December 31, 2015 , were as follows: Within 1 year After 1 year through 5 years After 5 years through 10 years After 10 years Total Corporate debt securities $ 35,499 $ 180,252 $ — $ — $ 215,751 Asset-backed securities 3,162 51,247 — — 54,409 U.S. agency securities — 16,578 — — 16,578 U.S. Treasury securities 1,000 2,485 — — 3,485 Other securities — 6,988 — — 6,988 Total fair value $ 39,661 $ 257,550 $ — $ — $ 297,211 Total amortized cost $ 39,727 $ 259,155 $ — $ — $ 298,882 Proceeds and gross realized gains and losses from sales of securities available for sale were as follows: Year Ended December 31, 2015 Proceeds $ 120,420 Gross realized gains $ 133 Gross realized losses $ 4 There were no proceeds or realized gains and losses from sales of securities available for sale for the year ended December 31, 2014 or 2013 .

Loans, Notes and Certificates a

Loans, Notes and Certificates and Loan Servicing Rights	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Loans, Notes and Certificates and Loan Servicing Rights	Loans, Notes and Certificates and Loan Servicing Rights Loans, Notes and Certificates The Company issues notes and the Trust issues certificates as a means to allow investors to invest in the associated loans. At December 31, 2015 and 2014 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates December 31, 2015 2014 2015 2014 Aggregate principal balance outstanding $ 4,681,671 $ 2,836,729 $ 4,697,169 $ 2,851,837 Net fair value adjustments (125,590 ) (38,224 ) (125,586 ) (38,219 ) Fair value $ 4,556,081 $ 2,798,505 $ 4,571,583 $ 2,813,618 Original term 12 - 60 months 12 - 60 months Interest rates (fixed) 4.99% - 29.90% 5.79% - 29.90% Maturity dates ≤ December 2020 ≤ December 2019 At December 31, 2015 and 2014 , loans that were 90 days or more past due (including non-accrual loans) were as follows: December 31, 2015 December 31, 2014 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 30,094 $ 4,513 $ 19,790 $ 1,373 Net fair value adjustments (25,312 ) (3,722 ) (18,825 ) (1,289 ) Fair value $ 4,782 $ 791 $ 965 $ 84 # of loans (not in thousands) 2,606 382 1,797 125 Loan Servicing Rights At December 31, 2015 , loans underlying loan servicing rights had a total outstanding principal balance of $4.29 billion , original terms between 3 and 84 months , monthly payments with interest rates ranging from 2.99% to 33.15% , and maturity dates through December 2022 . At December 31, 2014 , loans underlying loan servicing rights had a total outstanding principal balance of $1.87 billion , original terms between 12 and 60 months , monthly payments with fixed interest rates ranging from 5.90% to 33.15% , and maturity dates through December 2019.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities For a description of the fair value hierarchy and the Company’s fair value methodologies, see “Note 2 – Summary of Significant Accounting Policies.” The Company did not transfer any assets or liabilities in or out of level 3 during the years ended December 31, 2015 , 2014 , or 2013 . Financial Instruments Recorded at Fair Value The following tables present the fair value hierarchy for assets and liabilities measured at fair value: December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,556,081 $ 4,556,081 Securities available for sale: Corporate debt securities — 215,751 — 215,751 Asset-backed securities — 54,409 — 54,409 U.S. agency securities — 16,578 — 16,578 U.S. Treasury securities 3,485 3,485 Other securities — 6,988 — 6,988 Total securities available for sale — 297,211 — 297,211 Servicing assets — — 10,250 10,250 Total assets $ — $ 297,211 $ 4,566,331 $ 4,863,542 Liabilities: Notes and certificates $ — $ — $ 4,571,583 $ 4,571,583 Servicing liabilities — — 3,973 3,973 Total liabilities $ — $ — $ 4,575,556 $ 4,575,556 December 31, 2014 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 2,798,505 $ 2,798,505 Servicing assets — — 2,181 2,181 Total assets $ — $ — $ 2,800,686 $ 2,800,686 Liabilities: Notes and certificates $ — $ — $ 2,813,618 $ 2,813,618 Servicing liabilities — — 3,973 3,973 Total liabilities $ — $ — $ 2,817,591 $ 2,817,591 As the Company’s loans and related notes and certificates, and loan servicing rights do not trade in an active market with readily observable prices, the Company uses significant unobservable inputs to measure the fair value of these assets and liabilities. Financial instruments are categorized in the Level 3 valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. These fair value estimates may also include observable, actively quoted components derived from external sources. As a result, the realized and unrealized gains and losses for assets and liabilities within the Level 3 category may include changes in fair value that were attributable to both observable and unobservable inputs. Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements at December 31, 2015 and 2014 : December 31, 2015 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes and certificates Discount rates 2.9 % 17.5 % 9.0 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 9.9 % Cumulative prepayment rates (1) 23.4 % 36.4 % 30.8 % Servicing asset/liability Discount rates 3.5 % 16.3 % 9.4 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 8.8 % Cumulative prepayment rates (1) 8.0 % 36.4 % 30.5 % Base market servicing rates (% per annum on unpaid principal balance) (2) 0.50 % 0.75 % 0.50 % December 31, 2014 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes & certificates Discount rates 5.2 % 17.4 % 10.1 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 10.0 % Servicing asset/liability Discount rates 5.3 % 23.7 % 10.7 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 10.2 % Cumulative prepayment rates (1) 16.5 % 26.7 % 20.0 % Base market servicing rates (% per annum on unpaid principal balance) (2) 0.50 % 0.70 % 0.50 % (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Excludes ancillary fees charged to investors that would be passed on to a third-party servicer. At December 31, 2015 and 2014 , the discounted cash flow methodology used to estimate the note and certificates fair values used the same projected net cash flows as their related loans. As demonstrated by the table below, the fair value adjustments for loans were largely offset by the fair value adjustments of the notes and certificates due to the payment dependent design of the notes and certificates and because the principal balances of the loans were very close to the combined principal balances of the notes and certificates. The following table presents additional information about Level 3 loans, notes and certificates measured at fair value on a recurring basis for the years ended December 31, 2015 and 2014 : Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2013 $ 1,849,042 $ (20,000 ) $ 1,829,042 $ 1,859,982 $ (19,992 ) $ 1,839,990 Purchases of loans 3,886,427 — 3,886,427 — — — Issuances of notes and certificates — — — 2,156,019 — 2,156,019 Whole loan sales (1,730,045 ) — (1,730,045 ) — — — Principal payments (1,054,357 ) — (1,054,357 ) (1,049,982 ) — (1,049,982 ) Charge-offs (114,338 ) 114,338 — (114,182 ) 114,182 — Recoveries — (7,960 ) (7,960 ) — (7,929 ) (7,929 ) Change in fair value recorded in earnings — (124,602 ) (124,602 ) — (124,480 ) (124,480 ) Balance at December 31, 2014 $ 2,836,729 $ (38,224 ) $ 2,798,505 $ 2,851,837 $ (38,219 ) $ 2,813,618 Purchases of loans 7,224,176 — 7,224,176 — — — Issuances of notes and certificates — — — 3,861,995 — 3,861,995 Whole loan sales (3,358,611 ) — (3,358,611 ) — — — Principal payments (1,804,719 ) — (1,804,719 ) (1,800,859 ) — (1,800,859 ) Charge-offs (215,904 ) 215,904 — (215,804 ) 215,804 — Recoveries — (26,256 ) (26,256 ) — (26,143 ) (26,143 ) Change in fair value recorded in earnings — (277,014 ) (277,014 ) — (277,028 ) (277,028 ) Balance at December 31, 2015 $ 4,681,671 $ (125,590 ) $ 4,556,081 $ 4,697,169 $ (125,586 ) $ 4,571,583 The following table presents additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2015 and 2014 : Servicing Assets Servicing Liabilities Fair value at December 31, 2013 $ 534 $ (936 ) Issuances (1) 2,152 (5,721 ) Changes in fair value, included in servicing fees (1,264 ) 2,684 Additions, included in deferred revenue 759 — Fair value at December 31, 2014 $ 2,181 $ (3,973 ) Issuances (1) 10,079 (5,194 ) Changes in fair value, included in servicing fees (3,803 ) 5,194 Additions, included in deferred revenue 1,793 — Fair value at December 31, 2015 $ 10,250 $ (3,973 ) (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue (expense). Significant Recurring Level 3 Fair Value Asset and Liability Input Sensitivity Certain fair valuation adjustments recorded through earnings related to Level 3 instruments for the years ended December 31, 2015 , 2014 and 2013 . Generally, changes in the net cumulative expected loss rates, cumulative prepayment rates, and discount rates will have an immaterial net impact on the fair value of loans, notes and certificates, and servicing assets and liabilities. Certain of these unobservable inputs may (in isolation) have either a directionally consistent or opposite impact on the fair value of the financial instrument for a given change in that input. When multiple inputs are used within the valuation techniques for loans, notes and certificates, or servicing assets and liabilities, a change in one input in a certain direction may be offset by an opposite change from another input. A specific loan that is projected to have larger future default losses than previously estimated has lower expected future cash flows over its remaining life, which reduces its estimated fair value. Conversely, a specific loan that is projected to have smaller future default losses than previously estimated has increased expected future cash flows over its remaining life, which increases its fair value. Separately, an increase in expected prepayments will reduce the estimated fair value of a loan, whereas a decrease in expected prepayments will increase the estimated fair value of a loan. The Company’s selection of the most representative base market servicing rates for servicing assets and servicing liabilities is inherently judgmental. The Company reviewed third-party servicing rates for its loans and loans in similar credit sectors, as well as a market servicing benchmarking analysis provided by a third-party valuation firm, and determined that base market servicing rates on its loans, ranging from 0.50% to 0.75% per annum of outstanding principal, are reasonable estimates as of December 31, 2015 and 2014 . The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different base market servicing rate assumptions as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average base market servicing rate assumptions 0.50 % 0.50 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase to 0.60% $ (3,504 ) $ 1,589 $ (915 ) $ 1,416 Servicing rate decrease to 0.40% $ 3,610 $ (1,483 ) $ 965 $ (1,366 ) Financial Instruments Not Recorded at Fair Value The following tables present the fair value hierarchy for financial instruments not recorded at fair value: December 31, 2015 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 623,531 $ — $ 623,531 $ — $ 623,531 Restricted cash 80,733 — 80,733 — 80,733 Deposits 871 — 871 — 871 Total assets $ 705,135 $ — $ 705,135 $ — $ 705,135 Liabilities: Accounts payable $ 5,542 $ — $ 5,542 $ — $ 5,542 Payables to investors 73,162 — 73,162 — 73,162 Total liabilities $ 78,704 $ — $ 78,704 $ — $ 78,704 December 31, 2014 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 869,780 $ — $ 869,780 $ — $ 869,780 Restricted cash 46,763 — 46,763 — 46,763 Deposits 657 — 657 — 657 Total assets $ 917,200 $ — $ 917,200 $ — $ 917,200 Liabilities: Accounts payable $ 5,892 $ — $ 5,892 $ — $ 5,892 Payables to investors 38,741 — 38,741 — 38,741 Total liabilities $ 44,633 $ — $ 44,633 $ — $ 44,633

Property, Equipment and Softwar

Property, Equipment and Software, Net	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software, net, consist of the following: December 31, 2015 2014 Internally developed software $ 40,709 $ 16,023 Computer equipment 14,076 7,929 Leasehold improvements 11,559 4,802 Purchased software 5,336 3,326 Furniture and fixtures 5,086 2,405 Construction in progress 2,870 549 Total property, equipment and software 79,636 35,034 Accumulated depreciation and amortization (23,706 ) (7,983 ) Total property, equipment and software, net $ 55,930 $ 27,051 Depreciation and amortization expense on property, equipment and software was $16.2 million , $6.4 million and $1.7 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The Company recorded impairment expense of $0.6 million and $0.5 million , included in other general and administrative expense in the consolidated statement of operations, for the years ended December 31, 2015 and 2014, respectively. Impairment expense for the year ended December 31, 2013 was not material.

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: December 31, 2015 2014 Prepaid expenses $ 16,283 $ 6,807 Loan servicing assets, at fair value 10,250 2,181 Accounts receivable 4,976 1,744 Deferred acquisition compensation 1,521 2,695 Deferred financing cost 1,296 — Receivable from investors 1,117 155 Deposits 871 657 Tenant improvement receivable 778 — Due from related parties (1) 655 467 Other 666 93 Total other assets $ 38,413 $ 14,799 (1) Represents management fees due to LCA from certain private funds for which LCA acts as the general partner.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets Intangible assets consist of the following: December 31, 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships $ 39,500 $ (8,702 ) $ 30,798 Technology 400 (227 ) 173 Brand name 300 (300 ) — Total intangible assets $ 40,200 $ (9,229 ) $ 30,971 December 31, 2014 Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships $ 39,500 $ (3,700 ) $ 35,800 Technology 400 (93 ) 307 Brand name 300 (105 ) 195 Total intangible assets $ 40,200 $ (3,898 ) $ 36,302 The customer relationship intangible assets are amortized on an accelerated basis over a 14 year period. The technology and brand name intangible assets are amortized on a straight line basis over three years and one year , respectively. The weighted-average amortization period for total intangibles is 13.8 years . Amortization expense associated with intangible assets for the years ended December 31, 2015 and December 31, 2014 was $5.3 million and $3.9 million , respectively. The Company did not have any intangible assets at December 31, 2013 . The expected future amortization expense for intangible assets as of December 31, 2015 , is as follows: 2016 $ 4,757 2017 4,287 2018 3,872 2019 3,498 2020 3,122 Thereafter 11,435 Total $ 30,971 Goodwill Goodwill consists of the following: Balance at December 31, 2013 $ — Goodwill acquired 72,592 Balance at December 31, 2014 72,592 Other changes in goodwill 91 Balance at December 31, 2015 $ 72,683 During the year ended December 31, 2014 , the Company recorded goodwill in conjunction with the acquisition of Springstone. The Company did not record any goodwill impairment expense for the years ended December 31, 2015 , 2014 or 2013 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: December 31, 2015 2014 Accrued compensation $ 28,780 $ 13,659 Accrued expenses 14,054 6,220 Deferred rent 4,615 1,377 Loan servicing liabilities, at fair value 3,973 3,973 Deferred tax liability 3,446 1,332 Deferred revenue 2,551 759 Payable to issuing bank 955 267 Contingent liabilities 700 1,995 Transaction fee refund reserve 578 828 Early stock option exercise and other equity-related liabilities 83 392 Other 1,508 818 Total accrued expenses and other liabilities $ 61,243 $ 31,620

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss represents other cumulative gains and losses that are not reflected in earnings. The components of other comprehensive loss were as follows: Year Ended December 31, 2015 Before Tax Tax Effect Net of Tax Change in net unrealized losses on securities available for sale $ (1,671 ) $ — $ (1,671 ) Other comprehensive loss $ (1,671 ) $ — $ (1,671 ) Accumulated other comprehensive loss balances were as follows: Total Accumulated Other Comprehensive Loss Balance at December 31, 2014 $ — Change in net unrealized losses on securities available for sale (1,671 ) Balance at December 31, 2015 $ (1,671 ) The Company did not have any items of other comprehensive income (loss) during the years ended December 31, 2014 or 2013 .

Debt

Debt	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Debt	Debt Revolving Credit Facility On December 17, 2015 , the Company entered into a credit and guaranty agreement with several lenders for an aggregate $120 million unsecured revolving credit facility (Credit Facility). In connection with the credit agreement, the Company entered into a pledge and security agreement with Morgan Stanley Senior Funding, Inc., as collateral agent. Proceeds of loans made under the Credit Facility may be borrowed, repaid and reborrowed until December 17, 2020 . Repayment of any outstanding proceeds are payable on December 17, 2020 , but may be prepaid without penalty. Borrowings under the Credit Facility bear interest, at the Company’s option, at an annual rate based on the one-year LIBOR rate plus a spread of 1.75% to 2.00% , which is fixed for a Company-selected interest period of one, two, three, six or 12 months, or a an alternative base rate (which is tied to either the prime rate, federal funds effective rate, or the adjusted eurocurrency rate, as defined in the credit agreement). Base rate borrowings may be prepaid at any time without penalty, however pre-payment of LIBOR-based borrowings before the end of the selected interest period may result in the Company incurring expense to compensate the lenders for their funding costs through the end of the interest period. Interest is payable quarterly. Additionally, the Company is required to pay a quarterly commitment fee to the lenders of between 0.25% and 0.375% per annum, depending on the Company’s total net leverage ratio, on the average undrawn portion available under the revolving loan facility . The Credit Facility and pledge and security agreement contain certain covenants applicable to the Company, including restrictions on the Company’s ability to pay dividends, incur indebtedness, pledge our assets, merge or consolidate, make investments, and enter into certain affiliate transactions. The Credit Facility also requires the Company to maintain a maximum total net leverage ratio (defined as the ratio of net debt to Adjusted EBITDA, on a consolidated basis for the four most recent Fiscal Quarter periods) of 4.00 :1.00 initially, and which decreases over the term of the Credit Facility to 3.00 :1.00 on and after June 30, 2018 (on a consolidated basis). As of December 31, 2015, the total net leverage ratio, calculated as defined in the Credit Facility, was 0% . The Company did not have any loans outstanding under the Credit Facility during the year ended December 31, 2015. The Company incurred $1.3 million of capitalized debt issuance costs, which will be recognized as interest expense through December 17, 2020 . Term Loan On April 16, 2014 , the Company entered into a credit and guaranty agreement with several lenders for an aggregate $50.0 million Term Loan. In connection with the credit agreement, the Company entered into a pledge and security agreement with Morgan Stanley Senior Funding, Inc., as collateral agent. The Term Loan was outstanding for 245 days in 2014 and was fully repaid and extinguished on December 17, 2014 . For the year ended December 31, 2014, the Company incurred interest expense on the Term Loan of $2.3 million , which included expense related to writing off capitalized debt issuance costs. The Company did not incur any interest expense on the Term Loan in 2015. The weighted-average interest rate on the Term Loan was 2.59% for the period the loan was outstanding in 2014.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Initial Public Offering In December 2014, the Company closed its IPO of 66,700,000 shares of its common stock, which included shares registered to cover an option to purchase additional shares that it granted to the underwriters of the IPO and selling stockholders. The public offering price of the shares sold in the offering was $15.00 per share. The Company did not receive any proceeds from the sales of shares by the selling stockholders. The total gross proceeds from the offering were $1.0 billion . After deducting underwriting discounts and commissions, offering expenses and proceeds to the selling stockholders, the aggregate net proceeds received by the Company totaled approximately $827.7 million . Convertible Preferred Stock As of December 31, 2013, the Company had the following shares of preferred stock authorized and outstanding: Designated Shares Issued and Outstanding Shares Aggregate Liquidation Preference Amount Series A 68,025,100 66,100,340 $ 17,599 $ 17,402 Series B 65,642,104 65,577,300 12,268 12,164 Series C 62,486,436 62,486,436 24,490 24,388 Series D 36,030,712 36,030,712 32,044 31,943 Series E 14,285,712 10,000,000 17,500 17,347 Total convertible preferred stock 246,470,064 240,194,788 $ 103,901 $ 103,244 In connection with the Springstone acquisition in April, 2014, the Company sold an aggregate of 6,390,556 shares of its Series F convertible preferred stock, par value $0.01 per share (Financing Shares) for aggregate gross proceeds of approximately $65.0 million , pursuant to a Series F Preferred Stock Purchase Agreement. The Company sold the Financing Shares pursuant to an exemption from registration under Section 4(a)(2) of the Securities Act of 1933, as amended; all investors in the financing were accredited investors and the Company made no general solicitation for the sale of the Financing Shares. The Financing Shares were convertible into shares of common stock, par value $0.01 per share, on a one -for-one basis, as adjusted from time to time pursuant to the anti-dilution provisions of the Company’s Restated Certificate of Incorporation. In connection with the sale of Series F convertible preferred stock in April 2014, the Company filed a Restated Certificate of Incorporation with the State of Delaware, which increased the total number of shares that it was authorized to issue from 606,470,064 shares to 622,614,174 . Of the 622,614,174 shares authorized, 372,000,000 shares were designated as common stock and 250,614,174 shares were designated as preferred stock. Immediately prior to the completion of the Company’s IPO, all shares of its outstanding convertible preferred stock automatically converted, on a one -for- one basis, into 249,601,435 shares of the Company’s common stock. All shares of authorized convertible preferred stock also automatically converted, on a one -for- one basis, into 250,614,174 authorized shares of the Company’s common stock. On December 16, 2014, the Company filed a Restated Certificate of Incorporation with the State of Delaware, which increased the total number of shares that it was authorized to issue from 622,614,174 shares to 910,000,000 . Of the 910,000,000 shares authorized, 900,000,000 shares were designated as common stock and 10,000,000 shares were designated as preferred stock. Common Stock Reserved for Future Issuance As of December 31, 2015 and 2014 , the Company had shares of common stock reserved for future issuance as follows: December 31, 2015 2014 Options and unvested RSUs outstanding 52,652,310 57,386,829 Available for future stock option and RSU grants 33,560,939 36,561,469 Available for ESPP 2,589,991 3,000,000 Total reserved for future issuance 88,803,240 96,948,298

Employee Incentive and Retireme

Employee Incentive and Retirement Plans	12 Months Ended
	Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Employee Incentive and Retirement Plans	Employee Incentive and Retirement Plans The Company’s equity incentive plans provide for granting stock options and RSUs to employees, consultants, officers and directors. In addition, the Company offers a retirement plan and an ESPP to eligible employees. Stock-based compensation expense was as follows for the periods presented: Year Ended December 31, 2015 2014 2013 Stock options $ 30,717 $ 27,100 $ 6,283 RSUs 1,904 — — ESPP 9,185 104 — Stock issued related to acquisition 9,416 9,946 — Total stock-based compensation expense $ 51,222 $ 37,150 $ 6,283 The following table presents the Company’s stock-based compensation expense recorded in the consolidated statements of operations: Year Ended December 31, 2015 2014 (1) 2013 (1) Sales and marketing $ 7,250 $ 5,476 $ 1,147 Origination and servicing 2,735 1,653 424 Engineering and product development 11,335 6,445 2,336 Other general and administrative 29,902 23,576 2,376 Total stock-based compensation expense 51,222 37,150 6,283 (1) Prior period amounts have been reclassified to conform to the current period presentation. See “ Note 1. Basis of Presentation ” for additional information. The Company capitalized $4.4 million , $1.9 million and $0.2 million of stock-based compensation expense associated with developing software for internal use during the years ended December 31, 2015 , 2014 and 2013 , respectively. In addition, the Company recognized $0.7 million tax benefits from exercised stock options and RSUs in 2015 . There was no net income tax benefit recognized during 2014 or 2013 relating to stock-based compensation expense and no tax benefits have been realized from exercised stock options and RSUs due to the full valuation allowance. Stock-based compensation expense included $0.3 million and $3.0 million for the accelerated vesting of stock options that were accounted for as stock option modifications for the years ended December 31, 2015 and 2014 , respectively. There was no expense recognized for the accelerated vesting of stock options in the year ended December 31, 2013 . Equity Incentive Plans The Company has two equity incentive plans: the 2007 Stock Incentive Plan (2007 Plan) and the 2014 Equity Incentive Plan (2014 Plan). Upon the Company’s IPO in 2014, the 2007 Plan was terminated and all shares that remained available for future issuance under the 2007 Plan at that time were transferred to the 2014 Plan. As of December 31, 2015 , 47,090,982 options to purchase common stock granted under the 2007 Plan remain outstanding. As of December 31, 2015 , the total number of shares available for future grants under the 2014 Plan was 33,560,939 shares, including shares transferred from the 2007 Plan. Stock Options The following table summarizes the activities for the Company’s stock options during 2015 : Number of Options Weighted- Average Exercise Price Per Share Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2014 57,386,829 $ 3.15 Granted 1,164,929 $ 20.00 Exercised (7,579,324 ) $ 1.57 Forfeited/Expired (2,763,523 ) $ 6.57 Outstanding at December 31, 2015 48,208,911 $ 3.60 7.1 $ 370,388 Vested and expected to vest at December 31, 2015 47,784,071 $ 3.58 6.9 $ 368,127 Exercisable at December 31, 2015 27,290,693 $ 1.93 6.3 $ 250,057 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company’s closing stock price of $11.05 as reported on the New York Stock Exchange on December 31, 2015 . For the year ended December 31, 2015 , the Company granted service-based stock options to purchase 1,164,929 shares of common stock with a weighted average exercise price of $20.00 per share, a weighted average grant date fair value of $9.80 per option share and an aggregate estimated fair value of $11.4 million . For the year ended December 31, 2014 , the Company granted service-based stock options to purchase 22,081,243 shares of common stock with a weighted average exercise price of $6.74 per option share, a weighted average grant date fair value of $4.62 per share and an aggregate estimated fair value of $102.1 million . For the year ended December 31, 2013 , the Company granted service-based stock options to purchase 12,707,000 shares of common stock with a weighted average exercise price of $2.44 per option share, a weighted average grant date fair value of $2.71 per share and an aggregate estimated fair value of $34.4 million . The aggregate intrinsic value of options exercised was $103.5 million , $48.6 million and $26.2 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. The total fair value of stock options vested for the years ended December 31, 2015 , 2014 and 2013 was $36.8 million , $19.6 million and $4.5 million , respectively. As of December 31, 2015 , the total unrecognized compensation cost, net of forfeitures, related to outstanding stock options was $78.3 million , which is expected to be recognized over the next 2.4 years . The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options granted with the following assumptions: Year Ended December 31, 2015 2014 2013 Expected dividend yield — — — Weighted-average assumed stock price volatility 49.4 % 53.5 % 59.1 % Weighted-average risk-free interest rate 1.61 % 1.88 % 1.46 % Weighted-average expected life (in years) 6.25 6.35 6.30 Restricted Stock Units During the first quarter of 2015, the Company began issuing RSUs to certain employees, officers and directors. The following table summarizes the activities for the Company’s RSUs during the year of 2015: Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2014 — $ — Granted 4,807,875 $ 15.52 Vested (155,725 ) $ 19.92 Forfeited/expired (208,751 ) $ 18.44 Unvested at December 31, 2015 4,443,399 $ 15.23 Expected to vest after December 31, 2015 4,251,011 $ 15.25 As of December 31, 2015 , the Company granted 4,807,875 RSUs with an aggregate fair value of $74.6 million . As of December 31, 2015 , there was $61.6 million of unrecognized compensation cost, net of forfeitures, related to unvested RSUs, which is expected to be recognized over the next 3.5 years . Employee Stock Purchase Plan The Company’s ESPP became effective on December 11, 2014 . The ESPP allows eligible employees to purchase shares of the Company’s common stock at a discount through payroll deductions, subject to plan limitations. Payroll deductions are accumulated during six -month offering periods. The purchase price for each share of common stock is 85% of the lower of the fair market value of the common stock on the first business day of the offering period or on the last business day of the offering period. As of December 31, 2015 , the Company’s employees purchased 410,009 shares of common stock at an average exercise price of $12.42 . The Company did not purchase any shares under the ESPP during the year ended December 31, 2014 . As of December 31, 2015 and 2014, a total of 2,589,991 and 3,000,000 shares of common stock were reserved for issuance under the ESPP, respectively. The fair value of stock purchase rights granted to employees under the ESPP is measured under the ESPP on the grant date using the Black-Scholes option pricing model. The Company used the following assumptions in estimating the fair value of grants under the ESPP, which are derived using the same methodology applied to stock option assumptions: Year Ended December 31, 2015 2014 Expected dividend yield — — Weighted-average assumed stock price volatility 43.7 % 48.2 % Weighted-average risk-free rate 0.23 % 0.09 % Weighted-average expected life (years) 0.46 0.50 Stock Issued Related to Acquisition As part of the Springstone acquisition, the sellers received shares of the Company’s Series F convertible preferred stock having an aggregate value of $25.0 million (Share Consideration). $22.1 million of the Share Consideration is subject to certain vesting and forfeiture conditions over a three -year period for key continuing employees. This is accounted for as a compensation agreement and expensed over the three -year vesting period. In conjunction with the conversion of preferred stock upon the IPO, these preferred shares were converted into common shares. Retirement Plan Upon completing 90 days of service, employees may participate in the Company’s qualified retirement plan that is governed by section 401(k) of the IRS Code. Participants may elect to contribute a portion of their annual compensation up to the maximum limit allowed by federal tax law. In the second quarter of 2014, the Company approved an employer match of up to 3% of an employee’s eligible compensation with a maximum annual match of $5,000 per employee. The total expense for the employer match for the years ended December 31, 2015 and 2014 was $2.1 million and $0.9 million , respectively.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income (loss) before income tax expense was $(2.2) million , $(31.5) million and $7.3 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Income tax expense consisted of the following for the periods shown below: Year Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ — State 720 56 — Total current tax expense $ 720 $ 56 $ — Deferred: Federal $ 1,405 $ 1,185 $ — State 708 149 — Total deferred tax expense $ 2,113 $ 1,334 $ — Income tax expense $ 2,833 $ 1,390 $ — Income tax expense for the year ended December 31, 2015 , was primarily attributable to the amortization of tax deductible goodwill from the acquisition of Springstone, which gave rise to an indefinite-lived deferred tax liability, and the realization of excess tax benefits related to stock-based compensation. For the year ended December 31, 2014 , income tax expense was primarily related to the amortization of tax deductible goodwill from the acquisition of Springstone. For the year ended December 31, 2013 , there were no income taxes recorded related to pre-tax income due to the availability of deferred tax assets subject to a full valuation allowance to offset current year income. A reconciliation of the income taxes expected at the statutory federal income tax rate and the income tax expense for the years ended December 31, 2015 , 2014 and 2013 , is as follows: Year Ended December 31, 2015 2014 2013 Tax at federal statutory rate $ (738 ) $ (10,711 ) $ 2,485 State tax, net of federal tax benefit 1,277 98 563 Stock-based compensation expense 549 5,040 (593 ) Research and development tax credits (1,068 ) — (459 ) Change in valuation allowance 2,686 6,858 (2,534 ) Change in unrecognized tax benefit (62 ) — 518 Other 189 105 20 Income tax expense $ 2,833 $ 1,390 $ — The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 were: December 31, 2015 2014 Deferred tax assets: Stock-based compensation $ 19,696 $ 8,491 Reserves and accruals 11,506 6,249 Net operating loss carryforwards 5,621 13,510 Intangible assets 2,693 1,161 Tax credit carryforwards 1,810 552 Other 697 10 Servicing fees — 1,428 Total deferred tax assets 42,023 31,401 Valuation allowance (25,348 ) (26,788 ) Deferred tax assets – net of valuation allowance $ 16,675 $ 4,613 Deferred tax liabilities: Internally developed software $ (11,353 ) $ (2,967 ) Depreciation and amortization (4,089 ) (1,798 ) Goodwill (3,163 ) (1,180 ) Servicing fees (1,516 ) — Total deferred tax liabilities $ (20,121 ) $ (5,945 ) Deferred tax (liability) asset – net $ (3,446 ) $ (1,332 ) The table of deferred tax assets and liabilities does not include certain deferred tax assets as of December 31, 2015 and 2014 , related to tax deductions for equity-based compensation greater than the compensation recognized for financial reporting. Stockholders’ equity is estimated to increase by approximately $40 million , if and when such deferred tax assets are ultimately realized. The “with-and-without” approach, excluding the measurement of any indirect effects, is used when determining when excess tax benefits have been realized. The table of deferred tax assets and liabilities as of December 31, 2014 has been restated to remove deferred tax assets of approximately $14.0 million and a corresponding valuation allowance of approximately $14.0 million attributable to excess tax deductions for equity-based compensation greater than the compensation recognized for financial reporting. These excess tax benefits that were previously included in the balance of net operating loss carryforwards in the table of deferred tax assets and liabilities should have been excluded as they had not met the criteria to be treated as deferred tax assets. Since the Company recorded a valuation allowance for the entire balance of deferred tax assets, this disclosure correction has no net effect on the Company’s financial condition, results of operations, or cash flows as of and for the year ended December 31, 2014 . The Company does not believe correction of this amount is material to the financial statements as a whole. The Company continues to recognize a full valuation allowance against net deferred tax assets, excluding the deferred tax liability for indefinite-lived intangibles. This determination was based on the assessment of the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. As of December 31, 2015 and 2014 , the valuation allowance was $25.3 million and $26.8 million , respectively. As of December 31, 2015 , the Company had federal and state net operating loss (NOL) carryforwards of approximately $109.9 million and $77.4 million , respectively, to offset future taxable income. The federal and state NOL carryforwards will expire beginning in 2025 and 2028 , respectively. Additionally, as of December 31, 2015 , the Company had federal and state tax credit carryforwards of $0.8 million and $2.1 million , respectively. The federal tax credit carryforwards will expire beginning in 2025 and the state tax credits will expire beginning in 2020 . In general, a corporation’s ability to utilize its NOL and research and development carryforwards may be substantially limited due to the ownership change limitations as required by Section 382 and 383 of the Internal Revenue Code of 1986, as amended (Code), as well as similar state provisions. The federal and state Section 382 and 383 limitations may limit the use of a portion of the Company’s domestic NOL and tax credit carryforwards. Further, a portion of the carryforwards may expire before being applied to reduce future income tax liabilities. A reconciliation of the beginning and ending balance of total unrecognized tax benefits for the years ended December 31, 2015 , 2014 and 2013 , is as follows: Year Ended December 31, 2015 2014 2013 Beginning balance $ 491 $ 1,080 $ 367 Gross increase (decrease) for tax positions related to prior years (310 ) (589 ) 523 Gross increase for tax positions related to the current year 248 — 190 Ending balance $ 429 $ 491 $ 1,080 If the unrecognized tax benefit as of December 31, 2015 is recognized, there will be no effect on the Company’s effective tax rate due to the full valuation allowance. The Company recognizes interest and penalties related to unrecognized tax benefits within income tax expense. As of December 31, 2015 , the Company had no accrued interest and penalties related to unrecognized tax benefits. The Company does not expect any significant increases or decreases to its unrecognized benefits within the next twelve months. The Company files income tax returns in the United States and various state jurisdictions. As of December 31, 2015 , the Company’s federal tax returns for 2011 and earlier, and the state tax returns for 2010 and earlier were no longer subject to examination by the taxing authorities. However, tax periods closed in a prior period may be subject to audit and re-examination by tax authorities for which tax carryforwards are utilized in subsequent years.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Lease Commitments The Company’s corporate headquarters are located in San Francisco, California, and consist of approximately 169,000 square feet of space under lease agreements, the longest of which is expected to expire in June 2022 . Under these lease agreements, the Company has an option to extend nearly all of the space for five years . In April 2015, the Company entered into a lease agreement for approximately 112,000 square feet of additional office space in San Francisco, California. The lease agreement commenced in the second quarter of 2015 with delivery of portions of the leased space to occur in stages through March 2017. The lease agreement expires on March 31, 2026, with the right to renew the lease term for two consecutive renewal terms of five years each. The Company has additional leased office space of approximately 26,000 square feet in Westborough, Massachusetts, under a lease agreement that expires in July 2021 . Total facilities rental expense for the years ended December 31, 2015 , 2014 and 2013 was $7.4 million , $3.7 million and $1.9 million , respectively. The Company had no sublease rental income for the years ended December 31, 2015 , 2014 , or 2013 . Minimum lease payments for the years ended December 31, 2015 , 2014 and 2013 were $6.0 million , $3.3 million and $1.3 million , respectively. As of December 31, 2015 , the Company pledged $0.8 million of cash and $4.7 million in letters of credit as security deposits in connection with its lease agreements. The Company’s future minimum payments under non-cancelable operating leases in excess of one year as of December 31, 2015 were as follows: Years Ended December 31, 2016 $ 12,085 2017 15,095 2018 16,056 2019 15,624 2020 16,526 Thereafter 57,217 Total $ 132,603 Loan Purchase Obligation Under the Company’s loan account program with WebBank, a Utah-chartered industrial bank that serves as the Company’s primary issuing bank, WebBank retains ownership of the loans facilitated through Lending Club’s marketplace for two business days after origination. As part of this arrangement, the Company has committed to purchase the loans at par plus accrued interest, at the conclusion of the two business days. As of December 31, 2015 and 2014 , the Company was committed to purchase loans with an outstanding principal balance of $77.6 million and $4.1 million , respectively, at par plus accrued interest. There were no outstanding commitments as of December 31, 2013 . Loan Funding and Purchase Commitments As required by applicable regulations, the Company is required to purchase loans resulting from direct marketing efforts if such loans are not otherwise invested in by investors on the platform. During 2015 , the Company was not required to purchase any such loans. Additionally, loans in the process of being facilitated and originated by the Company’s issuing bank partner at December 31, 2015 , were fully funded in January 2016 and the Company was not required to purchase any of these loans. Separately, Springstone and the Company are contractually committed to purchase certain loans (Pool B loans) that Springstone facilitates and that are originated by an issuing bank partner if neither Springstone nor the Company can arrange for other investors to invest in or purchase these loans. The Company and the issuing bank have entered into purchase agreements with three investors to purchase Pool B loans or participation interests in Pool B loans. As of January 5, 2016, any minimum purchase requirements had expired under these agreements. During the year ended December 31, 2015, the Company was not required to purchase any Pool B loans or Pool B loan participation interests. In connection with current re-negotiations of the program agreement with the issuing bank, the Company may be required to deposit funds into an account at the bank to secure potential, future purchases of these loans. Credit Support Agreement The Company is subject to a credit support agreement with a certificate investor. The credit support agreement requires the Company to pledge and restrict cash in support of its contingent obligation to reimburse the investor for net credit losses on loans underlying the investor’s certificate that are in excess of a specified, aggregate net loss threshold. The Company is contingently obligated to pledge cash, not to exceed $5.0 million , to support this contingent obligation. Approximately $3.4 million was pledged and restricted to support this contingent obligation for the years ended December 31, 2015 , 2014 and 2013 . As of December 31, 2015 and 2014 , the net credit losses pertaining to the investor’s certificate have not exceeded the specified threshold, nor are future net credit losses expected to exceed the specified threshold, and thus no liability has been recorded. The Company currently does not anticipate recording losses under this credit support agreement. If losses related to the credit support agreement are later determined to be likely to occur and are estimable, results of operations could be affected in the period in which such losses are recorded. Legal On June 5, 2014, Springstone received a Civil Investigative Demand from the Consumer Financial Protection Bureau, referred to as CFPB, related to the period from 2009 through May 2014. The purpose of the investigation was to determine whether Springstone engaged in unlawful acts or practices in connection with the marketing, issuance, and servicing of loans for certain healthcare related financings during the period. On August 19, 2015, Springstone agreed to settle with the CFPB related to the CFPB’s concerns about possible borrower confusion of the terms of a deferred interest product, which was terminated by the Company in December 2014. To resolve this matter, Springstone is in the process of paying restitution of $700 thousand to certain borrowers under the Springstone finance program between 2009 and 2014. The settlement amount has been recorded as a liability as of December 31, 2015 . The settlement amount was fully covered by the indemnification provisions of the Springstone purchase agreement and, therefore, did not result in an adverse financial charge to the Company. In January 2016, the Company delivered to borrowers all restitution amounts that were accrued for as of December 31, 2015. The Company is currently engaged in an arbitration proceeding with a prior employee who is claiming that additional equity is due to them. The Company believes the claim to be without merit and intends to continue to defend the matter vigorously. The Company has not accrued a liability for this action at this time. In addition to the foregoing, the Company may be subject to legal proceedings and regulatory actions in the ordinary course of business. The Company does not believe it is probable that the ultimate liability, if any, arising out of any such matter will have a material effect on our financial condition, results of operations or cash flows.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting The Company defines operating segments to be components of the Company for which discrete financial information is evaluated regularly by the Company’s chief operating decision maker (CODM). For purposes of allocating resources and evaluating financial performance, the Company’s CODM reviews financial information by the product types of personal loans, and education and patient finance loans. These product types are aggregated and viewed as one operating segment, and therefore, one reportable segment due to their similar economic characteristics, product economics, production process, and regulatory environment. Substantially all of the Company’s revenue is generated in the United States. No individual customer accounted for 10% or more of consolidated net revenue for any of the periods presented.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Related party transactions must be reviewed and approved by the Audit Committee of the Company’s Board of Directors when not conducted in the ordinary course of business subject to the standard terms of the Company’s online marketplace or certificate investment program. Related party transactions may include any transaction between entities under common control or with a related person occurring since the beginning of the Company’s latest fiscal year, or any currently proposed transaction involving the Company where the amount involved exceeds $120,000 . This review also includes any material amendment or modification to an existing related party transaction. The Company has defined related persons as members of the Board of Directors, executive officers, principal owners of the Company’s outstanding stock and any immediate family members of each such related persons, as well as any other person or entity with significant influence over the Company’s management or operations. Several of the Company’s executive officers and directors (including immediate family members) have opened investor accounts with Lending Club, made deposits and withdrawals to their accounts, and purchased notes and certificates. All note and certificate purchases made by related parties were made in the ordinary course of business and were transacted on terms and conditions that were not more favorable than those obtained by third-party investors. There were no other transactions with related parties identified during the years ended 2015, 2014 or 2013.

Springstone Acquisition

Springstone Acquisition	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Springstone Acquisition	Springstone Acquisition On April 17, 2014 , Lending Club acquired all of the outstanding limited liability company interests of Springstone (Acquisition) for $111.8 million , which was comprised of $109.0 million in cash and shares of Series F convertible preferred stock with an aggregate value of $2.8 million . Upon closing of the Acquisition, Springstone became Lending Club’s wholly owned subsidiary. The Company has included the financial results of Springstone in the consolidated financial statements from the date of acquisition. To secure the retention of certain key employees, a total of $25.6 million comprised of $22.1 million of shares of Series F convertible preferred stock (Escrow Shares) and $3.5 million of cash were placed in a third-party escrow, and are subject to certain vesting and forfeiture conditions applicable to these employees continuing employment over a three-year period from the closing. These amounts are accounted for as a compensation arrangement and expensed over the three -year vesting period and are included under “General and administrative operating expenses” in the Consolidated Statements of Operations. Additionally, $19.0 million of the cash consideration and certain Escrow Shares were placed in a third-party escrow for 15 months from the closing date to secure, in part, the indemnification obligations of the sellers under the purchase agreement. In connection with the Acquisition, the Company also paid $2.4 million for transactions costs incurred by Springstone. The cash portion of the consideration was funded by a combination of cash from us, Series F convertible preferred stock financing, and proceeds from the Term Loan. The Company has completed the allocation of the purchase price to acquired assets and liabilities with the exception of finalizing the determination of certain contingent liabilities and the finalization of any deferred tax asset or liability as of the acquisition date. The preliminary purchase price allocation as of the acquisition date is as follows: Fair Value Assets: Cash $ 2,256 Restricted cash 1,581 Property, equipment and software 366 Other assets 599 Identified intangible assets 40,200 Goodwill 72,592 Liabilities: Accounts payable 239 Accrued expenses and other liabilities 5,536 Total purchase consideration $ 111,819 The goodwill balance is primarily attributed to expected operational synergies, the combined workforce, and the future development initiatives of the combined workforce. Goodwill is expected to be deductible for U.S. income tax purposes. The amounts of net revenue of Springstone included in the Company’s consolidated statements of operations from the acquisition date of April 17, 2014 to December 31, 2014 was $15.3 million . The Company has recognized acquisition-related expenses of $2.3 million for the year ended December 31, 2014, which is included in general and administrative expense. The Company did not recognize acquisition-related costs for the year ended December 31, 2013 . The following pro forma financial information summarizes the combined results of operations for Lending Club and Springstone, as though the companies were combined as of January 1, 2013. These pro forma results have been prepared for comparative purposes only and do not purport to be indicative of the results of operations which would have resulted had the acquisition occurred as of January 1, 2013, nor is it indicative of future operating results. The pro forma results presented below include interest expense on the debt financing, amortization of acquired intangible assets, compensation expense related to the post-acquisition compensation arrangements entered into with the continuing employees and tax expense: Years Ended December 31, 2014 2013 Total net revenue $ 219,174 $ 113,040 Net loss (1) $ (33,796 ) $ (17,592 ) Basic net loss per share attributable to common stockholders $ (0.45 ) $ (0.34 ) Diluted net loss per share attributable to common stockholders $ (0.45 ) $ (0.34 ) (1) Net loss for the year ended December 31, 2013 includes $8.6 million of one-time acquisition-related costs and compensation expenses.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to December 31, 2015, through the date the consolidated financial statements were filed with the SEC. Based on this evaluation, other than as recorded or disclosed within these consolidated financial statements, related notes or below, the Company has determined none of these events were required to be recognized or disclosed. On February 9, 2016, the board of directors approved a share repurchase program under which Lending Club may repurchase up to $150 million of the Company’s common shares in open market or privately negotiated transactions in compliance with Securities and Exchange Act Rule 10b-18 . This repurchase plan is valid for one year and does not obligate the Company to acquire any particular amount of common stock, and may be suspended at any time at Lending Club’s discretion.

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II – Valuation and Qualifying Accounts (in thousands) Additions Balance at Beginning of Period Charged to Expenses Charged to Other Accounts Deductions Balance at Allowance for Deferred Tax Assets: Year ended December 31, 2015 $ 26,788 $ — $ 680 $ 2,120 $ 25,348 Year ended December 31, 2014 $ 19,931 $ 6,857 $ — $ — $ 26,788 Year ended December 31, 2013 $ 22,465 $ — $ — $ 2,534 $ 19,931

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition Transaction Fee Revenue: Transaction fees are paid by issuing banks or patient service providers to Lending Club for the work Lending Club performs through its platform and Springstone’s platform. These fees are recognized as a component of operating revenue at the time of loan issuance. The amount of these fees is based upon the loan amount and other terms of the loan, including credit grade, maturity and other factors. Since Lending Club can estimate refunds for loan cancellations based on its refund experience, the Company records transaction fee revenue net of estimated refunds at the time of loan issuance. Servicing Fees: Note investors, certain certificate holders and whole loan purchasers typically pay Lending Club a servicing fee on each payment received from a borrower or on the investors’ month-end principal balance of loans serviced. The servicing fee compensates the Company for managing payments from borrowers and to investors and maintaining investors’ account portfolios. The Company records servicing fees as a component of operating revenue when received. Servicing fees can be, and have been, modified or waived at management’s discretion. Servicing fees also include the change in fair value of loan servicing assets and liabilities. Management Fees : Qualified investors can invest in investment funds managed by LCA. LCA charges limited partners in the investment funds a management fee payable monthly in arrears, based on a limited partner’s capital account balance at month end. LCA also earns management fees on SMAs, payable monthly in arrears, based on the month-end balances in the SMA accounts. Management fees are a component of operating revenue in the consolidated statements of operations and are recorded as earned. Management fees can be, and have been, modified or waived at the discretion of LCA. Other Revenue (Expense) : Other revenue (expense) consists primarily of gains and losses on sales of whole loans and referral revenue earned from partner companies when customers referred by Lending Club complete specified actions with them.
Whole Loan Sold	Whole Loan Sales Under loan sale agreements, the Company sells all of its right, title and interest in certain loans. At the time of such sales, the Company simultaneously enters into loan servicing agreements under which it acquires the right to service the loans. The Company calculates a gain or loss on the whole loan sale, including the acquisition of loan servicing rights, based on the net proceeds from the whole loan sale, minus the net investment in the loans being sold. Additionally, as needed, the Company will record a liability for significant estimated post-sale obligations or contingent obligations to the purchasers of the loans. From January 1, 2013 through June 30, 2013, transaction fees and direct loan origination and acquisition costs for loans that were sold were deferred and included in the overall net investment in the loans and then included in the gain or loss on the sale of such loans. Accordingly, the transaction fees for such loans were not included in transaction fee revenue and the direct loan origination costs for such loans were not included in operating expenses. A gain or loss on the whole loan sales was recorded on the sale date in “Other revenue (expense).” Effective July 1, 2013, the Company elected the fair value option for whole loans acquired that are designated to be sold. All transaction fees and all direct costs incurred in the origination process are recognized in earnings as earned or incurred and are not deferred. As such, beginning July 1, 2013, transaction fees for whole loans sold are included in “Transaction fees” and direct loan origination costs are included in “Origination and servicing” operating expense in the consolidated statements of operations. Gains and losses from whole loan sales are recorded in “Other revenue (expense)” in the consolidated statements of operations.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents include the Company’s unrestricted deposits with financial institutions in checking, money market and short-term certificate of deposit accounts. The Company considers all highly liquid investments with stated maturity dates of three months or less from the date of purchase to be cash equivalents.
Restricted Cash	Restricted Cash Restricted cash consists primarily of checking, money market and certificate of deposit accounts that are: (i) pledged to or held in escrow by the Company’s correspondent banks as security for transactions processed on or related to Lending Club’s platform; (ii) pledged through a credit support agreement with a certificate holder or (iii) investors’ funds transactions-in-process that have not yet been applied to their accounts on the platform and transferred to segregated bank accounts that hold investors’ funds. Investor cash balances (excluding transactions-in-process) are held in segregated bank or custodial accounts and are not commingled with the Company’s monies or held on the Company’s balance sheet.
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities The Company uses fair value measurement to record loans, notes, certificates and servicing assets and liabilities at fair value on a recurring basis. Fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy includes the following three-level classification, which is based on the market observability of the inputs used for estimating the fair value of the assets or liabilities being measured: Level 1 — Quoted market prices in active markets for identical assets or liabilities. Level 2 — Significant other observable inputs (e.g., quoted prices for similar items in active markets, quoted prices for identical or similar items in markets that are not active, inputs other than quoted prices that are observable such as interest rate and yield curves, and market-corroborated inputs). Level 3 — Inputs that are unobservable in the market but reflective of the types of assumptions that market participants would use in pricing the asset or liability. Valuation techniques include use of option pricing models, discounted cash flow methodologies or similar techniques. The Company utilizes discounted cash flow valuation techniques based on its estimate of future cash flows that are expected to occur over the life of a financial instrument. The Company considers unobservable inputs to be significant, if, by their exclusion, the estimated fair value of a Level 3 asset or liability would be impacted by a significant percentage change, or based on qualitative factors such as the nature of the instrument and significance of the unobservable inputs relative to other inputs used within the valuation.
Fair Valuation Adjustments of Loans at Fair Value and Notes and Certificates at Fair Value	We estimate the fair values of loans and related notes and certificates using a discounted cash flow valuation methodology. The fair valuation methodology considers projected prepayments and uses the historical actual defaults, losses and recoveries on our loans to project future losses and net cash flows on loans.
Servicing Assets and Liabilities at Fair Value	The Company uses the fair value measurement method to account for changes in servicing assets and liabilities. Significant assumptions used in valuing the Company’s servicing assets and liabilities were as follows: The Company uses a discounted cash flow model to estimate the fair values of loan servicing assets and liabilities. The cash flows in the valuation model represent the difference between the contractual servicing fees charged to whole loan buyers and an estimated market servicing fee. Since contractual servicing fees are generally based on the monthly unpaid principal balance of the underlying loans, the expected cash flows in the model incorporate estimated net expected losses and expected prepayments.
Financial Instruments Not Recorded at Fair Value	Financial Instruments Not Recorded at Fair Value Financial instruments not recorded at fair value on a recurring basis include cash and cash equivalents, restricted cash, accrued interest receivable, deposits, accrued interest payable, accounts payable and payables to investors. These assets and liabilities are recorded at historical cost. Given the short-term nature of these instruments, the Company considers the amortized cost to approximate their fair values.
Accrued Interest and Other Receivables	Accrued Interest Accrued interest income on loans is calculated based on the contractual interest rate of the loan and recorded as interest income as earned. Loans are placed on non-accrual status upon reaching 120 days past due. When a loan is placed on non-accrual status, the Company stops accruing interest and reverses all accrued but unpaid interest as of such date.
Property, Equipment and Software, Net	Property, Equipment and Software, net Property, equipment and software consists of internally developed and purchased software, computer equipment, leasehold improvements, furniture and fixtures and construction in process, which are recorded at cost, less accumulated depreciation and amortization. Computer equipment, purchased software and furniture and fixtures are depreciated or amortized on a straight line basis over two to five years . Leasehold improvements are amortized over the shorter of the lease term excluding renewal periods or the estimated useful life. Internally developed software is amortized on a straight line basis over the project’s estimated useful life, generally three years . Internally developed software is capitalized when preliminary development efforts are successfully completed and it is probable that the project will be completed and the software will be used as intended. Capitalized costs consist of salaries and payroll related costs for employees and fees paid to third-party consultants who are directly involved in development efforts. Costs related to preliminary project activities and post implementation activities including training and maintenance are expensed as incurred. Costs incurred for upgrades and enhancements that are considered to be probable to result in additional functionality are capitalized. The Company evaluates potential impairments of its property, equipment and software whenever events or changes in circumstances indicate that the carrying amount of the assets may not be recoverable. Events or changes in circumstances that could result in impairment include, but are not limited to, underperformance relative to historical or projected future operating results, significant changes in the manner of use of the assets or the strategy for the Company’s overall business and significant negative industry or economic trends. The determination of recoverability of these assets is based on whether an estimate of undiscounted future cash flows resulting from the use of the asset and its eventual disposition exceed the net book value of the asset. If the asset is not recoverable, measurement of an impairment loss is based on the fair value of the asset. When an impairment loss is recognized, the carrying amount of the asset is reduced to its estimated fair value.
Consolidation Policies	Consolidation of Variable Interest Entities A variable interest entity (VIE) is a legal entity that does not have sufficient equity at risk to finance its own operations, whose equity holders do not have the power to direct the activities most significantly affecting the economic outcome of those activities, or whose equity holders do not share proportionately in the losses or receive the residual returns of the entity. The determination of whether an entity is a VIE requires a significant amount of judgment. When the Company has a controlling financial interest in a VIE, it must consolidate the results of the VIE’s operations into its consolidated financial statements. The determination of whether a controlling financial interest exists also requires judgment. A controlling financial interest exists if we have both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance and the obligation to absorb losses or receive benefits that could be potentially significant to the VIE. Management regularly reviews and reconsiders its previous conclusion regarding the status of an entity as a VIE and whether we are required to consolidate such VIE in the consolidated financial statements.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill represents the fair value of acquired businesses in excess of the aggregate fair value of the identified net assets acquired. Goodwill is not amortized but is tested for impairment annually or whenever indications of impairment exist. Our annual impairment testing date is April 1. Impairment exists whenever the carrying value of goodwill exceeds its implied fair value. Adverse changes in impairment indicators such as loss of key personnel, increase regulatory oversight, or unplanned changes in our operations could result in impairment. We did not recognize any goodwill impairment for the years ended December 31, 2015 and 2014 . We did not have any goodwill during the year ended December 31, 2013 . We can elect to qualitatively assess goodwill for impairment if it is more likely than not that the fair value of a reporting unit (generally defined as a component of a business for which financial information is available and reviewed regularly by management) exceeds its carrying value. A qualitative assessment may consider macroeconomic and other industry-specific factors, such as trends in short-term and long-term interest rates and the ability to access capital or company-specific factors, such as market capitalization in excess of net assets, trends in revenue generating activities and merger or acquisition activity. If we do not qualitatively assess goodwill we compare a reporting unit’s estimated fair value to its carrying value. Estimated fair value of a reporting unit is generally established using an income approach based on a discounted cash flow model or a market approach, which compares each reporting unit to comparable companies in their respective industries. Intangible assets are amortized over their useful lives in a manner that best reflects their economic benefit, which may include straight-line or accelerated methods of amortization. Intangible assets are reviewed for impairment quarterly and whenever events or changes in circumstances indicate that the carrying amount of such assets may not be recoverable. The Company does not have any indefinite-lived intangible assets.
Stock-based Compensation	Stock-based Compensation Stock-based compensation includes expense associated with restricted stock units, stock option grants, and our employee stock purchase plan (ESPP), as well as expense associated with stock issued related to our acquisition of Springstone. Stock-based compensation expense is based on the grant date fair value of the award, net of expected forfeitures, which are based on our historical experience. If actual forfeitures differ significantly from our estimates, stock-based compensation expense and our results of operations could be materially impacted. The fair value of restricted stock units is based on the closing price of our common stock on the date of grant. To determine the fair value of stock options and ESPP purchase rights, we use the Black-Scholes option-pricing model, with inputs for the fair value of our common stock, expected common stock price volatility over the expected life of the stock options or ESPP purchase rights, expected term of the stock option or ESPP purchase right, risk-free interest rates and expected dividends. Prior to the Company’s IPO, the fair value of its shares of common stock was established by the board of directors. The Company’s board of directors relied upon valuations provided by third party valuation firms and other factors, including, but not limited to, the current status of the technical and commercial success of the Company’s operations, the Company’s financial condition, the stage of the Company’s product design and development, and competition to establish the fair value of the Company’s common stock at the time of grant of the option. As we do not have a significant trading history for our common stock, the expected stock price volatility for our common stock is estimated by reference to the average historical stock price volatility for our industry peers. The industry peer group used to estimate our volatility includes small, mid and large capitalization companies in the consumer finance, investment management and technology industries taking into account the similarity in size, stage of life cycle and financial leverage. The expected term represents the period of time that stock options are estimated to be outstanding, giving consideration to the contractual terms of the options, vesting schedules, and expectations of future exercise patterns and post-vesting employee termination behavior. Given our limited operating history, the simplified method is applied to calculate the expected term. We use a risk-free interest rate based on the U.S. Treasury yield for a term consistent with the expected life of the awards in effect at the time of grant. We have never declared or paid any cash or other dividends and do not anticipate paying cash or other dividends in the foreseeable future. Consequently, we use an expected dividend yield of 0.0% in our option-pricing model. Stock-based compensation expense related to stock options and restricted stock units that are expected to vest is recognized over the vesting period of the award, which is generally four years , on a straight-line basis. The compensation expense related to ESPP purchase rights is recognized on a straight-line basis over the requisite service period, which is generally six months .
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of events that have been included in the financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax bases of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on deferred tax assets and liabilities is recognized in income in the period that includes the enactment date. The Company recognizes deferred tax assets to the extent that it believes these assets are more likely than not to be realized. In making such a determination, the Company considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, and results of recent operations. If the Company determines that it would be able to realize its deferred tax assets in the future in excess of their net recorded amount, the Company would make an adjustment to the deferred tax asset valuation allowance, which would reduce the provision for income taxes. The Company accounts for the realization of excess tax benefits for stock-based compensation based on the “with-and-without” approach, excluding the measurement of any indirect effects. Equity will be increased if and when such deferred tax assets are ultimately realized. The Company accounts for uncertain tax positions using a two-step process whereby (i) it determines whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position (“more-likely-than-not recognition threshold”) and (ii) for those tax positions that meet the more-likely-than-not recognition threshold, it recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. The Company recognizes interest and penalties accrued on any unrecognized tax benefits as a component of provision for income tax in the consolidated statements of operations.
Use of Estimates	Use of Estimates The preparation of the Company’s consolidated financial statements and related disclosures requires management to make judgments, assumptions and estimates that affect the amounts reported in its consolidated financial statements and accompanying notes. The Company bases its estimates on historical experience and on various other factors it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of certain assets and liabilities. These judgments, assumptions and estimates include but are not limited to the following: (i) fair value determinations for servicing assets and liabilities; (ii) fair value determinations for loans, notes and certificates; (iii) stock-based compensation expense; (iv) provision for income taxes, net of valuation allowance for deferred tax assets; (v) recoverability of property, equipment and software; (vi) carrying values of goodwill and intangible assets; (vii) consolidation of variable interest entities; and (viii) reserves for contingencies. These judgments, estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material.
Impact of New Accounting Standards	New Accounting Standards Not Yet Adopted In January 2016, the Financial Accounting Standards Board (FASB) amended guidance related to recognition and measurement of financial instruments, which will be effective January 1, 2018. The amendments change the accounting for equity investments, change disclosure requirements related to instruments at amortized cost and fair value, and clarify how entities should evaluate deferred tax assets for securities classified as available-for-sale. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, earnings per common share (EPS), or cash flows. In November 2015, the FASB amended guidance related to the presentation of deferred income taxes, which will be effective January 1, 2017. The guidance simplified the presentation to require that all deferred income taxes be presented as noncurrent on a classified statement of financial position. The Company does not currently present a classified statement of financial position and accordingly does not expect this guidance to have any impact on its disclosures. In May 2014, the FASB issued new guidance on revenue recognition, which is effective January 1, 2019. The guidance clarifies that revenue from contracts with customers should be recognized in a manner that depicts both the likelihood of payment and the timing of the related transfer of goods or performance of services. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS or cash flows. Adoption of New Accounting Standards In September 2015, the FASB amended existing guidance related to recognition of adjustments to provisional amounts recorded during purchase accounting. Changes recognized during the measurement period will be recognized prospectively as adjustments to goodwill, with corresponding changes in income or expense, such as revised depreciation or amortization, recognized in current period earnings. This amendment was effective January 1, 2016. Since the Company does not currently have any open measurement periods related to a business combination, adoption of this guidance did not have an impact on the Company’s financial position, results of operations, EPS, or cash flows. In April 2015, the FASB issued new guidance amending accounting for customer’s cloud based computing fees, which will be effective January 1, 2016. The guidance changes what a customer must consider in determining whether a cloud computing arrangement contains a software license. If the arrangement contains a software license, the customer would account for fees related to the software license element in accordance with guidance related to internal use software; if the arrangement does not contain a software license, the customer would account for the arrangement as a service contract. The adoption of this guidance did not have an impact on the Company’s financial position, results of operations, EPS, or cash flows. In February 2015, the FASB issued new guidance amending accounting for consolidations, which was effective January 1, 2016. The guidance changes what an investor must consider in determining whether it is required to consolidate an entity in which it holds an interest. The Company is in the process of evaluating the impact of adoption, which is not expected to be material to the Company’s financial position, results of operations, EPS, or cash flows. In June 2014, the FASB issued guidance to clarify accounting for stock-based compensation awards that provide that a performance target could be achieved after the requisite service period, which is effective January 1, 2016. The guidance requires that a performance target that affects vesting, and is achievable after the requisite service period, be treated as a performance condition. The adoption of this guidance did not have a material impact on the Company’s financial position, results of operations, EPS, or cash flows.

Net Income (Loss) Per Share a30

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders (Tables)	12 Months Ended
	Dec. 31, 2015
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) per Share	The following table details the computation of the Company’s basic and diluted net income (loss) per share: Year Ended December 31, 2015 2014 2013 Net income (loss) $ (4,995 ) $ (32,894 ) $ 7,308 Less: Net income allocated to participating securities (1) — — (7,117 ) Net income (loss) available to common stockholders $ (4,995 ) $ (32,894 ) $ 191 Weighted average common shares – Basic 374,872,118 75,573,742 51,557,136 Weighted average effect of dilutive securities: Stock options — — 28,542,404 Warrants — — 1,327,436 Weighted average common shares – Diluted 374,872,118 75,573,742 81,426,976 Net income (loss) per share attributable to common stockholders Basic $ (0.01 ) $ (0.44 ) $ 0.00 Diluted $ (0.01 ) $ (0.44 ) $ 0.00 (1) In a period with net income, both earnings and dividends (if any) are allocated to participating securities. In a period with a net loss, only declared dividends (if any) are allocated to participating securities.

Securities Available for Sale (

Securities Available for Sale (Tables)	12 Months Ended
	Dec. 31, 2015
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of December 31, 2015 , were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 217,243 $ 2 $ (1,494 ) $ 215,751 Asset-backed securities 54,543 — (134 ) 54,409 U.S. agency securities 16,602 1 (25 ) 16,578 U.S. Treasury securities 3,489 — (4 ) 3,485 Other securities 7,005 — (17 ) 6,988 Total securities available for sale $ 298,882 $ 3 $ (1,674 ) $ 297,211
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	A summary of securities available for sale with unrealized losses as of December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 212,018 $ (1,494 ) $ — $ — $ 212,018 $ (1,494 ) Asset-backed securities 54,409 (134 ) — — 54,409 (134 ) U.S. agency securities 14,578 (25 ) — — 14,578 (25 ) U.S. Treasury securities 3,485 (4 ) — — 3,485 (4 ) Other securities 6,988 (17 ) — — 6,988 (17 ) Total securities with unrealized losses (1) $ 291,478 $ (1,674 ) $ — $ — $ 291,478 $ (1,674 ) (1) The number of investment positions with unrealized losses totaled 141 .
Investments Classified by Contractual Maturity Date	The contractual maturities of securities available for sale at December 31, 2015 , were as follows: Within 1 year After 1 year through 5 years After 5 years through 10 years After 10 years Total Corporate debt securities $ 35,499 $ 180,252 $ — $ — $ 215,751 Asset-backed securities 3,162 51,247 — — 54,409 U.S. agency securities — 16,578 — — 16,578 U.S. Treasury securities 1,000 2,485 — — 3,485 Other securities — 6,988 — — 6,988 Total fair value $ 39,661 $ 257,550 $ — $ — $ 297,211 Total amortized cost $ 39,727 $ 259,155 $ — $ — $ 298,882
Schedule of Realized Gain (Loss)	Proceeds and gross realized gains and losses from sales of securities available for sale were as follows: Year Ended December 31, 2015 Proceeds $ 120,420 Gross realized gains $ 133 Gross realized losses $ 4

Loans, Notes and Certificates32

Loans, Notes and Certificates and Loan Servicing Rights (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Loans, Notes and Certificates Measured at Fair Value on Recurring Basis	At December 31, 2015 and 2014 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates December 31, 2015 2014 2015 2014 Aggregate principal balance outstanding $ 4,681,671 $ 2,836,729 $ 4,697,169 $ 2,851,837 Net fair value adjustments (125,590 ) (38,224 ) (125,586 ) (38,219 ) Fair value $ 4,556,081 $ 2,798,505 $ 4,571,583 $ 2,813,618 Original term 12 - 60 months 12 - 60 months Interest rates (fixed) 4.99% - 29.90% 5.79% - 29.90% Maturity dates ≤ December 2020 ≤ December 2019
Past Due Financing Receivables	At December 31, 2015 and 2014 , loans that were 90 days or more past due (including non-accrual loans) were as follows: December 31, 2015 December 31, 2014 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 30,094 $ 4,513 $ 19,790 $ 1,373 Net fair value adjustments (25,312 ) (3,722 ) (18,825 ) (1,289 ) Fair value $ 4,782 $ 791 $ 965 $ 84 # of loans (not in thousands) 2,606 382 1,797 125

Fair Value of Assets and Liab33

Fair Value of Assets and Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans, Loan Servicing Rights, Related Notes and Certificates	The following tables present the fair value hierarchy for assets and liabilities measured at fair value: December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,556,081 $ 4,556,081 Securities available for sale: Corporate debt securities — 215,751 — 215,751 Asset-backed securities — 54,409 — 54,409 U.S. agency securities — 16,578 — 16,578 U.S. Treasury securities 3,485 3,485 Other securities — 6,988 — 6,988 Total securities available for sale — 297,211 — 297,211 Servicing assets — — 10,250 10,250 Total assets $ — $ 297,211 $ 4,566,331 $ 4,863,542 Liabilities: Notes and certificates $ — $ — $ 4,571,583 $ 4,571,583 Servicing liabilities — — 3,973 3,973 Total liabilities $ — $ — $ 4,575,556 $ 4,575,556 December 31, 2014 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 2,798,505 $ 2,798,505 Servicing assets — — 2,181 2,181 Total assets $ — $ — $ 2,800,686 $ 2,800,686 Liabilities: Notes and certificates $ — $ — $ 2,813,618 $ 2,813,618 Servicing liabilities — — 3,973 3,973 Total liabilities $ — $ — $ 2,817,591 $ 2,817,591
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following tables present quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements at December 31, 2015 and 2014 : December 31, 2015 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes and certificates Discount rates 2.9 % 17.5 % 9.0 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 9.9 % Cumulative prepayment rates (1) 23.4 % 36.4 % 30.8 % Servicing asset/liability Discount rates 3.5 % 16.3 % 9.4 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 8.8 % Cumulative prepayment rates (1) 8.0 % 36.4 % 30.5 % Base market servicing rates (% per annum on unpaid principal balance) (2) 0.50 % 0.75 % 0.50 % December 31, 2014 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes & certificates Discount rates 5.2 % 17.4 % 10.1 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 10.0 % Servicing asset/liability Discount rates 5.3 % 23.7 % 10.7 % Net cumulative expected loss rates (1) 0.3 % 22.0 % 10.2 % Cumulative prepayment rates (1) 16.5 % 26.7 % 20.0 % Base market servicing rates (% per annum on unpaid principal balance) (2) 0.50 % 0.70 % 0.50 % (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Excludes ancillary fees charged to investors that would be passed on to a third-party servicer.
The sensitivities related to market servicing rates and prepayment rates	The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different base market servicing rate assumptions as of December 31, 2015 and 2014 : December 31, 2015 December 31, 2014 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average base market servicing rate assumptions 0.50 % 0.50 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase to 0.60% $ (3,504 ) $ 1,589 $ (915 ) $ 1,416 Servicing rate decrease to 0.40% $ 3,610 $ (1,483 ) $ 965 $ (1,366 )
Fair Value, by Balance Sheet Grouping	The following tables present the fair value hierarchy for financial instruments not recorded at fair value: December 31, 2015 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 623,531 $ — $ 623,531 $ — $ 623,531 Restricted cash 80,733 — 80,733 — 80,733 Deposits 871 — 871 — 871 Total assets $ 705,135 $ — $ 705,135 $ — $ 705,135 Liabilities: Accounts payable $ 5,542 $ — $ 5,542 $ — $ 5,542 Payables to investors 73,162 — 73,162 — 73,162 Total liabilities $ 78,704 $ — $ 78,704 $ — $ 78,704 December 31, 2014 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 869,780 $ — $ 869,780 $ — $ 869,780 Restricted cash 46,763 — 46,763 — 46,763 Deposits 657 — 657 — 657 Total assets $ 917,200 $ — $ 917,200 $ — $ 917,200 Liabilities: Accounts payable $ 5,892 $ — $ 5,892 $ — $ 5,892 Payables to investors 38,741 — 38,741 — 38,741 Total liabilities $ 44,633 $ — $ 44,633 $ — $ 44,633
Loans, Notes and Certificates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Additional Information about Level 3 Measured at Fair Value on Recurring Basis	The following table presents additional information about Level 3 loans, notes and certificates measured at fair value on a recurring basis for the years ended December 31, 2015 and 2014 : Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2013 $ 1,849,042 $ (20,000 ) $ 1,829,042 $ 1,859,982 $ (19,992 ) $ 1,839,990 Purchases of loans 3,886,427 — 3,886,427 — — — Issuances of notes and certificates — — — 2,156,019 — 2,156,019 Whole loan sales (1,730,045 ) — (1,730,045 ) — — — Principal payments (1,054,357 ) — (1,054,357 ) (1,049,982 ) — (1,049,982 ) Charge-offs (114,338 ) 114,338 — (114,182 ) 114,182 — Recoveries — (7,960 ) (7,960 ) — (7,929 ) (7,929 ) Change in fair value recorded in earnings — (124,602 ) (124,602 ) — (124,480 ) (124,480 ) Balance at December 31, 2014 $ 2,836,729 $ (38,224 ) $ 2,798,505 $ 2,851,837 $ (38,219 ) $ 2,813,618 Purchases of loans 7,224,176 — 7,224,176 — — — Issuances of notes and certificates — — — 3,861,995 — 3,861,995 Whole loan sales (3,358,611 ) — (3,358,611 ) — — — Principal payments (1,804,719 ) — (1,804,719 ) (1,800,859 ) — (1,800,859 ) Charge-offs (215,904 ) 215,904 — (215,804 ) 215,804 — Recoveries — (26,256 ) (26,256 ) — (26,143 ) (26,143 ) Change in fair value recorded in earnings — (277,014 ) (277,014 ) — (277,028 ) (277,028 ) Balance at December 31, 2015 $ 4,681,671 $ (125,590 ) $ 4,556,081 $ 4,697,169 $ (125,586 ) $ 4,571,583
Servicing asset/liability
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Additional Information about Level 3 Measured at Fair Value on Recurring Basis	The following table presents additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the years ended December 31, 2015 and 2014 : Servicing Assets Servicing Liabilities Fair value at December 31, 2013 $ 534 $ (936 ) Issuances (1) 2,152 (5,721 ) Changes in fair value, included in servicing fees (1,264 ) 2,684 Additions, included in deferred revenue 759 — Fair value at December 31, 2014 $ 2,181 $ (3,973 ) Issuances (1) 10,079 (5,194 ) Changes in fair value, included in servicing fees (3,803 ) 5,194 Additions, included in deferred revenue 1,793 — Fair value at December 31, 2015 $ 10,250 $ (3,973 ) (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue (expense).

Property, Equipment and Softw34

Property, Equipment and Software, Net (Tables)	12 Months Ended
	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Property, Equipment and Software	Property, equipment and software, net, consist of the following: December 31, 2015 2014 Internally developed software $ 40,709 $ 16,023 Computer equipment 14,076 7,929 Leasehold improvements 11,559 4,802 Purchased software 5,336 3,326 Furniture and fixtures 5,086 2,405 Construction in progress 2,870 549 Total property, equipment and software 79,636 35,034 Accumulated depreciation and amortization (23,706 ) (7,983 ) Total property, equipment and software, net $ 55,930 $ 27,051

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2015
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: December 31, 2015 2014 Prepaid expenses $ 16,283 $ 6,807 Loan servicing assets, at fair value 10,250 2,181 Accounts receivable 4,976 1,744 Deferred acquisition compensation 1,521 2,695 Deferred financing cost 1,296 — Receivable from investors 1,117 155 Deposits 871 657 Tenant improvement receivable 778 — Due from related parties (1) 655 467 Other 666 93 Total other assets $ 38,413 $ 14,799 (1) Represents management fees due to LCA from certain private funds for which LCA acts as the general partner.

Intangible Assets and Goodwill

Intangible Assets and Goodwill (Tables)	12 Months Ended
	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets consist of the following: December 31, 2015 Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships $ 39,500 $ (8,702 ) $ 30,798 Technology 400 (227 ) 173 Brand name 300 (300 ) — Total intangible assets $ 40,200 $ (9,229 ) $ 30,971 December 31, 2014 Gross Carrying Value Accumulated Amortization Net Carrying Value Customer relationships $ 39,500 $ (3,700 ) $ 35,800 Technology 400 (93 ) 307 Brand name 300 (105 ) 195 Total intangible assets $ 40,200 $ (3,898 ) $ 36,302
Schedule of Expected Future Amortization Expense for Intangible Assets	The expected future amortization expense for intangible assets as of December 31, 2015 , is as follows: 2016 $ 4,757 2017 4,287 2018 3,872 2019 3,498 2020 3,122 Thereafter 11,435 Total $ 30,971
Schedule of Goodwill	Goodwill consists of the following: Balance at December 31, 2013 $ — Goodwill acquired 72,592 Balance at December 31, 2014 72,592 Other changes in goodwill 91 Balance at December 31, 2015 $ 72,683

Accrued Expenses and Other Li37

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: December 31, 2015 2014 Accrued compensation $ 28,780 $ 13,659 Accrued expenses 14,054 6,220 Deferred rent 4,615 1,377 Loan servicing liabilities, at fair value 3,973 3,973 Deferred tax liability 3,446 1,332 Deferred revenue 2,551 759 Payable to issuing bank 955 267 Contingent liabilities 700 1,995 Transaction fee refund reserve 578 828 Early stock option exercise and other equity-related liabilities 83 392 Other 1,508 818 Total accrued expenses and other liabilities $ 61,243 $ 31,620

Accumulated Other Comprehensi38

Accumulated Other Comprehensive Loss (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Comprehensive Income (Loss)	The components of other comprehensive loss were as follows: Year Ended December 31, 2015 Before Tax Tax Effect Net of Tax Change in net unrealized losses on securities available for sale $ (1,671 ) $ — $ (1,671 ) Other comprehensive loss $ (1,671 ) $ — $ (1,671 )
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss balances were as follows: Total Accumulated Other Comprehensive Loss Balance at December 31, 2014 $ — Change in net unrealized losses on securities available for sale (1,671 ) Balance at December 31, 2015 $ (1,671 )

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2015
Equity [Abstract]
Convertible Preferred Stock	Convertible Preferred Stock As of December 31, 2013, the Company had the following shares of preferred stock authorized and outstanding: Designated Shares Issued and Outstanding Shares Aggregate Liquidation Preference Amount Series A 68,025,100 66,100,340 $ 17,599 $ 17,402 Series B 65,642,104 65,577,300 12,268 12,164 Series C 62,486,436 62,486,436 24,490 24,388 Series D 36,030,712 36,030,712 32,044 31,943 Series E 14,285,712 10,000,000 17,500 17,347 Total convertible preferred stock 246,470,064 240,194,788 $ 103,901 $ 103,244
Shares of Common Stock Reserved for Future Issuance	As of December 31, 2015 and 2014 , the Company had shares of common stock reserved for future issuance as follows: December 31, 2015 2014 Options and unvested RSUs outstanding 52,652,310 57,386,829 Available for future stock option and RSU grants 33,560,939 36,561,469 Available for ESPP 2,589,991 3,000,000 Total reserved for future issuance 88,803,240 96,948,298

Employee Incentive and Retire40

Employee Incentive and Retirement Plans (Tables)	12 Months Ended
	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total Stock-Based Compensation Expense	Stock-based compensation expense was as follows for the periods presented: Year Ended December 31, 2015 2014 2013 Stock options $ 30,717 $ 27,100 $ 6,283 RSUs 1,904 — — ESPP 9,185 104 — Stock issued related to acquisition 9,416 9,946 — Total stock-based compensation expense $ 51,222 $ 37,150 $ 6,283
Stock-Based Compensation Expense Recorded in Consolidated Statement of Operations	The following table presents the Company’s stock-based compensation expense recorded in the consolidated statements of operations: Year Ended December 31, 2015 2014 (1) 2013 (1) Sales and marketing $ 7,250 $ 5,476 $ 1,147 Origination and servicing 2,735 1,653 424 Engineering and product development 11,335 6,445 2,336 Other general and administrative 29,902 23,576 2,376 Total stock-based compensation expense 51,222 37,150 6,283 (1) Prior period amounts have been reclassified to conform to the current period presentation. See “ Note 1. Basis of Presentation ” for additional information.
Schedule of Options Activity	The following table summarizes the activities for the Company’s stock options during 2015 : Number of Options Weighted- Average Exercise Price Per Share Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2014 57,386,829 $ 3.15 Granted 1,164,929 $ 20.00 Exercised (7,579,324 ) $ 1.57 Forfeited/Expired (2,763,523 ) $ 6.57 Outstanding at December 31, 2015 48,208,911 $ 3.60 7.1 $ 370,388 Vested and expected to vest at December 31, 2015 47,784,071 $ 3.58 6.9 $ 368,127 Exercisable at December 31, 2015 27,290,693 $ 1.93 6.3 $ 250,057 (1) The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the Company’s closing stock price of $11.05 as reported on the New York Stock Exchange on December 31, 2015 .
Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted	The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options granted with the following assumptions: Year Ended December 31, 2015 2014 2013 Expected dividend yield — — — Weighted-average assumed stock price volatility 49.4 % 53.5 % 59.1 % Weighted-average risk-free interest rate 1.61 % 1.88 % 1.46 % Weighted-average expected life (in years) 6.25 6.35 6.30
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the activities for the Company’s RSUs during the year of 2015: Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2014 — $ — Granted 4,807,875 $ 15.52 Vested (155,725 ) $ 19.92 Forfeited/expired (208,751 ) $ 18.44 Unvested at December 31, 2015 4,443,399 $ 15.23 Expected to vest after December 31, 2015 4,251,011 $ 15.25
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted	The Company used the following assumptions in estimating the fair value of grants under the ESPP, which are derived using the same methodology applied to stock option assumptions: Year Ended December 31, 2015 2014 Expected dividend yield — — Weighted-average assumed stock price volatility 43.7 % 48.2 % Weighted-average risk-free rate 0.23 % 0.09 % Weighted-average expected life (years) 0.46 0.50

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	Income tax expense consisted of the following for the periods shown below: Year Ended December 31, 2015 2014 2013 Current: Federal $ — $ — $ — State 720 56 — Total current tax expense $ 720 $ 56 $ — Deferred: Federal $ 1,405 $ 1,185 $ — State 708 149 — Total deferred tax expense $ 2,113 $ 1,334 $ — Income tax expense $ 2,833 $ 1,390 $ —
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the income taxes expected at the statutory federal income tax rate and the income tax expense for the years ended December 31, 2015 , 2014 and 2013 , is as follows: Year Ended December 31, 2015 2014 2013 Tax at federal statutory rate $ (738 ) $ (10,711 ) $ 2,485 State tax, net of federal tax benefit 1,277 98 563 Stock-based compensation expense 549 5,040 (593 ) Research and development tax credits (1,068 ) — (459 ) Change in valuation allowance 2,686 6,858 (2,534 ) Change in unrecognized tax benefit (62 ) — 518 Other 189 105 20 Income tax expense $ 2,833 $ 1,390 $ —
Deferred Tax Assets and Liabilities	The significant components of the Company’s deferred tax assets and liabilities as of December 31, 2015 and 2014 were: December 31, 2015 2014 Deferred tax assets: Stock-based compensation $ 19,696 $ 8,491 Reserves and accruals 11,506 6,249 Net operating loss carryforwards 5,621 13,510 Intangible assets 2,693 1,161 Tax credit carryforwards 1,810 552 Other 697 10 Servicing fees — 1,428 Total deferred tax assets 42,023 31,401 Valuation allowance (25,348 ) (26,788 ) Deferred tax assets – net of valuation allowance $ 16,675 $ 4,613 Deferred tax liabilities: Internally developed software $ (11,353 ) $ (2,967 ) Depreciation and amortization (4,089 ) (1,798 ) Goodwill (3,163 ) (1,180 ) Servicing fees (1,516 ) — Total deferred tax liabilities $ (20,121 ) $ (5,945 ) Deferred tax (liability) asset – net $ (3,446 ) $ (1,332 )
Changes in Unrecognized Tax Benefit	A reconciliation of the beginning and ending balance of total unrecognized tax benefits for the years ended December 31, 2015 , 2014 and 2013 , is as follows: Year Ended December 31, 2015 2014 2013 Beginning balance $ 491 $ 1,080 $ 367 Gross increase (decrease) for tax positions related to prior years (310 ) (589 ) 523 Gross increase for tax positions related to the current year 248 — 190 Ending balance $ 429 $ 491 $ 1,080

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Lease Payments	The Company’s future minimum payments under non-cancelable operating leases in excess of one year as of December 31, 2015 were as follows: Years Ended December 31, 2016 $ 12,085 2017 15,095 2018 16,056 2019 15,624 2020 16,526 Thereafter 57,217 Total $ 132,603

Springstone Acquisition (Tables

Springstone Acquisition (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Preliminary Purchase Price Allocation	The preliminary purchase price allocation as of the acquisition date is as follows: Fair Value Assets: Cash $ 2,256 Restricted cash 1,581 Property, equipment and software 366 Other assets 599 Identified intangible assets 40,200 Goodwill 72,592 Liabilities: Accounts payable 239 Accrued expenses and other liabilities 5,536 Total purchase consideration $ 111,819
Summary of Pro Forma Financial Information	The pro forma results presented below include interest expense on the debt financing, amortization of acquired intangible assets, compensation expense related to the post-acquisition compensation arrangements entered into with the continuing employees and tax expense: Years Ended December 31, 2014 2013 Total net revenue $ 219,174 $ 113,040 Net loss (1) $ (33,796 ) $ (17,592 ) Basic net loss per share attributable to common stockholders $ (0.45 ) $ (0.34 ) Diluted net loss per share attributable to common stockholders $ (0.45 ) $ (0.34 ) (1) Net loss for the year ended December 31, 2013 includes $8.6 million of one-time acquisition-related costs and compensation expenses.

Basis of Presentation - Additio

Basis of Presentation - Additional Information (Detail)	Dec. 11, 2014USD ($)$ / shares	Sep. 05, 2014$ / shares	Apr. 15, 2014	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2013USD ($)$ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Initial public offering (shares)	$ 66,700,000				$ 827,680,000
Common stock, par value ($ per share) | $ / shares	$ 15	$ 0.01			$ 0.01	$ 0.01
Proceeds from initial public offering	$ 1,000,000,000			$ 0	$ 827,680,000	$ 0
Shares outstanding, equity stock split ratio		2	2

Summary of Significant Accoun45

Summary of Significant Accounting Policies - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Cash maturity period	3 months
Non-Accrual Loans, Number of Days Threshold	120 days
Maximum period for loan classified as non-accrual loan	120 days
Expected dividend yield	0.00%	0.00%	0.00%
Unrecognized compensation cost expected period for recognition	2 years 5 months
Computer Software, Intangible Asset
Class of Stock [Line Items]
Intangible assets, useful life	3 years
Minimum
Class of Stock [Line Items]
Property and equipment, estimated useful life	2 years
Maximum
Class of Stock [Line Items]
Property and equipment, estimated useful life	5 years
Stock options
Class of Stock [Line Items]
Expected dividend yield	0.00%
Stock awards, vesting period	4 years
Employee Stock
Class of Stock [Line Items]
Unrecognized compensation cost expected period for recognition	6 months

Net Income (Loss) Per Share a46

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders (Detail) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Earnings Per Share [Abstract]
Net income (loss)	$ (4,995)	$ (32,894)	$ 7,308
Less: Net income allocated to participating securities (1)	0	0	(7,117)
Net income (loss) available to common stockholders	$ (4,995)	$ (32,894)	$ 191
Weighted-average common shares - Basic (shares)	374,872,118	75,573,742	51,557,136
Weighted average effect of dilutive securities: (shares)
Stock options	0	0	28,542,404
Warrants	0	0	1,327,436
Weighted average common shares – Diluted	374,872,118	75,573,742	81,426,976
Basic net loss per share attributable to common stockholders ($ per share)	$ (0.01)	$ (0.44)	$ 0
Diluted net loss per share attributable to common stockholders ($ per share)	$ (0.01)	$ (0.44)	$ 0

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 298,882
Gross Unrealized Gains	3
Gross Unrealized Losses	(1,674)
Securities available for sale	297,211	$ 0
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	217,243
Gross Unrealized Gains	2
Gross Unrealized Losses	(1,494)
Securities available for sale	215,751
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	54,543
Gross Unrealized Gains	0
Gross Unrealized Losses	(134)
Securities available for sale	54,409
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,602
Gross Unrealized Gains	1
Gross Unrealized Losses	(25)
Securities available for sale	16,578
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,489
Gross Unrealized Gains	0
Gross Unrealized Losses	(4)
Securities available for sale	3,485
Other securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,005
Gross Unrealized Gains	0
Gross Unrealized Losses	(17)
Securities available for sale	$ 6,988

Securities Available for Sale48

Securities Available for Sale - Unrealized losses (Details) $ in Thousands	Dec. 31, 2015USD ($)position
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 291,478
Less than 12 months, unrealized loss	(1,674)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	291,478
Unrealized Losses	$ (1,674)
Number of positions with unrealized loss | position	141
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	$ 212,018
Less than 12 months, unrealized loss	(1,494)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	212,018
Unrealized Losses	(1,494)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	54,409
Less than 12 months, unrealized loss	(134)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	54,409
Unrealized Losses	(134)
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	14,578
Less than 12 months, unrealized loss	(25)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	14,578
Unrealized Losses	(25)
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	3,485
Less than 12 months, unrealized loss	(4)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	3,485
Unrealized Losses	(4)
Other securities
Schedule of Available-for-sale Securities [Line Items]
Less than 12 months, fair value	6,988
Less than 12 months, unrealized loss	(17)
12 months or longer, fair value	0
12 months or longer, unrealized loss	0
Fair Value	6,988
Unrealized Losses	$ (17)

Securities Available for Sale49

Securities Available for Sale - Maturities (Details) $ in Thousands	Dec. 31, 2015USD ($)
Fair value
Within 1 year	$ 39,661
After 1 year through 5 years	257,550
After 5 years through 10 years	0
After 10 years	0
Total	297,211
Amortized cost
Within 1 year	39,727
After 1 year through 5 years	259,155
After 5 years through 10 years	0
After 10 years	0
Total	298,882
Corporate debt securities
Fair value
Within 1 year	35,499
After 1 year through 5 years	180,252
After 5 years through 10 years	0
After 10 years	0
Total	215,751
Asset-backed securities
Fair value
Within 1 year	3,162
After 1 year through 5 years	51,247
After 5 years through 10 years	0
After 10 years	0
Total	54,409
U.S. agency securities
Fair value
Within 1 year	0
After 1 year through 5 years	16,578
After 5 years through 10 years	0
After 10 years	0
Total	16,578
U.S. Treasury securities
Fair value
Within 1 year	1,000
After 1 year through 5 years	2,485
After 5 years through 10 years	0
After 10 years	0
Total	3,485
Other securities
Fair value
Within 1 year	0
After 1 year through 5 years	6,988
After 5 years through 10 years	0
After 10 years	0
Total	$ 6,988

Securities Available for Sale50

Securities Available for Sale - Realized gains/losses (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 120,420
Gross realized gains	133
Gross realized losses	$ 4

Loans, Notes and Certificates51

Loans, Notes and Certificates and Loan Servicing Rights - Fair value on a recurring basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value	$ 4,556,081	$ 2,798,505
Fair value	$ 4,571,583	$ 2,813,618
Interest rates (fixed) minimum	4.99%	5.79%
Interest rates (fixed) maximum	29.90%	29.90%
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Original term	12 months	12 months
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Original term	60 months	60 months
Fair Value, Measurements, Recurring | Notes and Certificates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	$ 4,697,169	$ 2,851,837
Net fair value adjustments	(125,586)	(38,219)
Fair value	4,571,583	2,813,618
Fair Value, Measurements, Recurring | Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	4,681,671	2,836,729
Net fair value adjustments	(125,590)	(38,224)
Fair value	$ 4,556,081	$ 2,798,505

Loans, Notes and Certificates52

Loans, Notes and Certificates and Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Debt instrument, interest rate, effective percentage rate range, minimum	4.99%	5.79%
Debt instrument, interest rate, effective percentage rate range, maximum	29.90%	29.90%
Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Original term	12 months	12 months
Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Original term	60 months	60 months
Loans
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Principal balance of underlying loan servicing rights	$ 4,290	$ 1,870
Debt instrument, interest rate, effective percentage rate range, minimum	2.99%	5.90%
Debt instrument, interest rate, effective percentage rate range, maximum	33.15%	33.15%
Debt instrument, maturity date, description	December 2,022
Loans | Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Original term	3 months	12 months
Loans | Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Original term	84 months	60 months

Loans, Notes and Certificates53

Loans, Notes and Certificates and Loan Servicing Rights - Outstanding loans (Details) - Loans $ in Thousands	Dec. 31, 2015USD ($)Loan	Dec. 31, 2014USD ($)Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance, past 90 days	$ 30,094	$ 19,790
Outstanding principal balance, non-accrual	4,513	1,373
Net fair value adjustments, past 90 days	(25,312)	(18,825)
Net fair value adjustments, non-accrual	(3,722)	(1,289)
Fair value, past 90 days	4,782	965
Fair value, non-accrual	$ 791	$ 84
Number of loans (not in thousands), past 90 days | Loan	2,606	1,797
Number of loans (not in thousands), non-accrual | Loan	382	125

Fair Value of Assets and Liab54

Fair Value of Assets and Liabilities - Loans, Loan Servicing Rights, Related Notes and Certificates (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	$ 4,556,081	$ 2,798,505
Securities available for sale	297,211	0
Servicing assets	10,250	2,181
Total assets	4,863,542	2,800,686
Notes and certificates	4,571,583	2,813,618
Servicing liabilities	3,973	3,973
Total liabilities	4,575,556	2,817,591
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Securities available for sale	0
Servicing assets	0	0
Total assets	0	0
Notes and certificates	0	0
Servicing liabilities	0	0
Total liabilities	0	0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Securities available for sale	297,211
Servicing assets	0	0
Total assets	297,211	0
Notes and certificates	0	0
Servicing liabilities	0	0
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	4,556,081	2,798,505
Securities available for sale	0
Servicing assets	10,250	2,181
Total assets	4,566,331	2,800,686
Notes and certificates	4,571,583	2,813,618
Servicing liabilities	3,973	3,973
Total liabilities	4,575,556	$ 2,817,591
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	215,751
Corporate debt securities | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
Corporate debt securities | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	215,751
Corporate debt securities | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	54,409
Asset-backed securities | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
Asset-backed securities | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	54,409
Asset-backed securities | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	16,578
U.S. agency securities | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
U.S. agency securities | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	16,578
U.S. agency securities | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,485
U.S. Treasury securities | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	3,485
Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,988
Other securities | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	0
Other securities | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	6,988
Other securities | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale	$ 0

Fair Value of Assets and Liab55

Fair Value of Assets and Liabilities - Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value Inputs [Abstract]
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.50%	0.50%
Minimum
Fair Value Inputs [Abstract]
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.50%	0.50%
Maximum
Fair Value Inputs [Abstract]
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.75%	0.75%
Level 3 Inputs | Minimum | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	2.90%	5.20%
Net cumulative expected loss rates(1)	0.30%	0.30%
Cumulative prepayment rates(1)	23.40%
Level 3 Inputs | Minimum | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	3.50%	5.30%
Net cumulative expected loss rates(1)	0.30%	0.30%
Cumulative prepayment rates(1)	8.00%	16.50%
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.50%	0.50%
Level 3 Inputs | Maximum | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	17.50%	17.40%
Net cumulative expected loss rates(1)	22.00%	22.00%
Cumulative prepayment rates(1)	36.40%
Level 3 Inputs | Maximum | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	16.30%	23.70%
Net cumulative expected loss rates(1)	22.00%	22.00%
Cumulative prepayment rates(1)	36.40%	26.70%
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.75%	0.70%
Level 3 Inputs | Weighted- Average | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	9.00%	10.10%
Net cumulative expected loss rates(1)	9.90%	10.00%
Cumulative prepayment rates(1)	30.80%
Level 3 Inputs | Weighted- Average | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	9.40%	10.70%
Net cumulative expected loss rates(1)	8.80%	10.20%
Cumulative prepayment rates(1)	30.50%	20.00%
Base market servicing rates (% per annum on unpaid principal balance)(2)	0.50%	0.50%

Fair Value of Assets and Liab56

Fair Value of Assets and Liabilities - Additional Information about Loans, Notes and Certificates Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Loans
Outstanding Principal Balance, Beginning	$ 2,836,729	$ 1,849,042
Valuation Adjustment, Beginning	(38,224)	(20,000)
Fair Value, Beginning	2,798,505	1,829,042
Outstanding Principal Balance, Purchases of loans	7,224,176	3,886,427
Valuation Adjustment, Purchases of loans	0	0
Fair Value, Purchases of loans	7,224,176	3,886,427
Outstanding Principal Balance, Issuances of notes and certificates	0	0
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	0	0
Outstanding Principal Balance, Whole loan sales	(3,358,611)	(1,730,045)
Valuation Adjustment, Whole loan sales	0	0
Fair Value, Whole loan sales	(3,358,611)	(1,730,045)
Outstanding Principal Balance, Principal payments	(1,804,719)	(1,054,357)
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(1,804,719)	(1,054,357)
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	(26,256)	(7,960)
Fair Value, Recoveries	(26,256)	(7,960)
Outstanding Principal Balance, Charge-offs	(215,904)	(114,338)
Asset Valuation Adjustment, Charge-offs	215,904	114,338
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(277,014)	(124,602)
Fair Value, Change in fair value recorded in earnings	(277,014)	(124,602)
Outstanding Principal Balance, Ending	4,681,671	2,836,729
Valuation Adjustment, Ending	(125,590)	(38,224)
Fair Value, Ending	4,556,081	2,798,505
Notes and Certificates
Outstanding Principal Balance, Beginning	2,851,837	1,859,982
Valuation Adjustment, Beginning	(38,219)	(19,992)
Fair Value, Beginning	2,813,618	1,839,990
Outstanding Principal Balance, Purchases of loans	0	0
Valuation Adjustment, Purchases of loans	0	0
Fair Value, Purchases of loans	0	0
Outstanding Principal Balance, Issuances of notes and certificates	3,861,995	2,156,019
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	3,861,995	2,156,019
Outstanding Principal Balance, Whole loan sales	0	0
Valuation Adjustment, Whole loan sales	0	0
Fair Value, Whole loan sales	0	0
Outstanding Principal Balance, Principal payments	(1,800,859)	(1,049,982)
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(1,800,859)	(1,049,982)
Outstanding Principal Balance, Recovers	0	0
Valuation Adjustment, Recoveries	(26,143)	(7,929)
Fair Value, Recoveries	(26,143)	(7,929)
Outstanding Principal Balance, Charge-offs	(215,804)	(114,182)
Valuation Adjustment, Charge-offs	215,804	114,182
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(277,028)	(124,480)
Fair Value, Change in fair value recorded in earnings	(277,028)	(124,480)
Outstanding Principal Balance, Ending	4,697,169	2,851,837
Valuation Adjustment, Ending	(125,586)	(38,219)
Fair Value, Ending	$ 4,571,583	$ 2,813,618

Fair Value of Assets and Liab57

Fair Value of Assets and Liabilities - Additional Information about Servicing Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Servicing Assets
Servicing Assets, Fair value, Beginning Balance	$ 2,181
Additions, included in deferred revenue	3,803	$ (1,647)	$ (534)
Servicing Assets, Fair value, Ending Balance	10,250	2,181
Servicing Liabilities
Servicing Liabilities, Fair value, Beginning Balance	(3,973)
Additions, included in deferred revenue	5,194	(3,037)	(936)
Servicing Liabilities, Fair value, Ending Balance	(3,973)	(3,973)
Fair Value, Measurements, Recurring
Servicing Assets
Servicing Assets, Fair value, Beginning Balance	2,181	534
Issuances	10,079	2,152
Changes in fair value, included in servicing fees	(3,803)	(1,264)
Servicing Assets, Fair value, Ending Balance	10,250	2,181	534
Servicing Liabilities
Servicing Liabilities, Fair value, Beginning Balance	(3,973)	(936)
Issuances	(5,194)	(5,721)
Changes in fair value, included in servicing fees	5,194	2,684
Servicing Liabilities, Fair value, Ending Balance	(3,973)	(3,973)	$ (936)
Fair Value, Measurements, Recurring | Deferred Revenue
Servicing Assets
Additions, included in deferred revenue	1,793	759
Servicing Liabilities
Additions, included in deferred revenue	$ 0	$ 0

Fair Value of Assets and Liab58

Fair Value of Assets and Liabilities - Additional Information about Servicing Assets and Liabilities Measured Using Different Market Servicing Rates and Different Prepayment (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Servicing Asset at Fair Value, Amount [Roll Forward]
Weighted-average base market servicing rate assumptions	0.50%	0.50%
Servicing rate increase to 0.60%
Servicing Asset at Fair Value, Amount [Roll Forward]
Servicing Assets	$ (3,504)	$ (915)
Servicing rate decrease to 0.40%
Servicing Asset at Fair Value, Amount [Roll Forward]
Servicing Assets	$ 3,610	$ 965
Fair Value, Measurements, Recurring
Servicing Asset at Fair Value, Amount [Roll Forward]
Weighted-average base market servicing rate assumptions	0.50%	0.50%
Servicing Assets	$ (3,803)	$ (1,264)
Servicing Liabilities	(5,194)	(2,684)
Fair Value, Measurements, Recurring | Servicing rate increase to 0.60%
Servicing Asset at Fair Value, Amount [Roll Forward]
Servicing Liabilities	1,589	1,416
Fair Value, Measurements, Recurring | Servicing rate decrease to 0.40%
Servicing Asset at Fair Value, Amount [Roll Forward]
Servicing Liabilities	$ (1,483)	$ (1,366)

Fair Value of Assets and Liab59

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 4,863,542	$ 2,800,686
Total liabilities	4,575,556	2,817,591
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	0	0
Total liabilities	0	0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	297,211	0
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,566,331	2,800,686
Total liabilities	4,575,556	2,817,591
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	623,531	869,780
Restricted cash	80,733	46,763
Deposits	871	657
Total assets	705,135	917,200
Accounts payable	5,542	5,892
Payables to investors	73,162	38,741
Total liabilities	78,704	44,633
Portion at Other than Fair Value Measurement | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Deposits	0	0
Total assets	0	0
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	623,531	869,780
Restricted cash	80,733	46,763
Deposits	871	657
Total assets	705,135	917,200
Accounts payable	5,542	5,892
Payables to investors	73,162	38,741
Total liabilities	78,704	44,633
Portion at Other than Fair Value Measurement | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash	0	0
Deposits	0	0
Total assets	0	0
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	0	0
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	623,531	869,780
Restricted cash	80,733	46,763
Deposits	871	657
Total assets	705,135	917,200
Accounts payable	5,542	5,892
Payables to investors	73,162	38,741
Total liabilities	$ 78,704	$ 44,633

Fair Value of Assets and Liab60

Fair Value of Assets and Liabilities - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market servicing rates of products on outstanding principal	0.50%	0.50%
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market servicing rates of products on outstanding principal	0.50%	0.50%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market servicing rates of products on outstanding principal	0.75%	0.75%

Property, Equipment and Softw61

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Property, Plant and Equipment [Abstract]
Internally developed software	$ 40,709	$ 16,023
Computer equipment	14,076	7,929
Leasehold improvements	11,559	4,802
Purchased software	5,336	3,326
Furniture and fixtures	5,086	2,405
Construction in progress	2,870	549
Total property, equipment and software	79,636	35,034
Accumulated depreciation and amortization	(23,706)	(7,983)
Total property, equipment and software, net	$ 55,930	$ 27,051

Property, Equipment and Softw62

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 21,578	$ 10,258	$ 1,663
General and Administrative Expense
Property, Plant and Equipment [Line Items]
Impairment	600	500
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 16,200	$ 6,400	$ 1,700

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Assets [Abstract]
Other assets	$ 38,413	$ 14,799
Prepaid expenses
Other Assets [Abstract]
Other assets	16,283	6,807
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets	10,250	2,181
Accounts receivable
Other Assets [Abstract]
Other assets	4,976	1,744
Deferred acquisition compensation
Other Assets [Abstract]
Other assets	1,521	2,695
Deferred financing cost
Other Assets [Abstract]
Other assets	1,296	0
Receivable from investors
Other Assets [Abstract]
Other assets	1,117	155
Deposits
Other Assets [Abstract]
Other assets	871	657
Tenant improvement receivable
Other Assets [Abstract]
Other assets	778	0
Due from related parties
Other Assets [Abstract]
Other assets	655	467
Other
Other Assets [Abstract]
Other assets	$ 666	$ 93

Intangible Assets and Goodwil64

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Weighted-average amortization period for total intangibles	13 years 9 months
Amortization expense	$ 5.3	$ 3.9
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortized period	14 years
Technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortized period	3 years
Brand name
Finite-Lived Intangible Assets [Line Items]
Intangible assets, amortized period	1 year

Intangible Assets and Goodwil65

Intangible Assets and Goodwill - Schedule of Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 40,200	$ 40,200
Accumulated Amortization	(9,229)	(3,898)
Net Carrying Value	30,971	36,302
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	39,500	39,500
Accumulated Amortization	(8,702)	(3,700)
Net Carrying Value	30,798	35,800
Technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	400	400
Accumulated Amortization	(227)	(93)
Net Carrying Value	173	307
Brand name
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	300	300
Accumulated Amortization	(300)	(105)
Net Carrying Value	$ 0	$ 195

Intangible Assets and Goodwil66

Intangible Assets and Goodwill - Schedule of Expected Future Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 4,757
2,017	4,287
2,018	3,872
2,019	3,498
2,020	3,122
Thereafter	11,435
Net Carrying Value	$ 30,971	$ 36,302

Intangible Assets and Goodwil67

Intangible Assets and Goodwill - Schedule of Goodwill (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014
Goodwill [Roll Forward]
Beginning balance	$ 72,592	$ 0
Goodwill acquired		72,592
Other changes in goodwill	91
Ending balance	$ 72,683	$ 72,592

Accrued Expenses and Other Li68

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Payables and Accruals [Abstract]
Accrued compensation	$ 28,780	$ 13,659
Accrued expenses	14,054	6,220
Deferred rent	4,615	1,377
Loan servicing liabilities, at fair value	3,973	3,973
Deferred tax liability	3,446	1,332
Deferred revenue	2,551	759
Payable to issuing bank	955	267
Contingent liabilities	700	1,995
Transaction fee refund reserve	578	828
Early stock option exercise and other equity-related liabilities	83	392
Other	1,508	818
Total accrued expenses and other liabilities	$ 61,243	$ 31,620

Accumulated Other Comprehensi69

Accumulated Other Comprehensive Loss - Comprehensive income/loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Equity [Abstract]
Change in net unrealized loss on securities available for sale	$ (1,671)	$ 0	$ 0
Change in net unrealized loss on securities available for sale, tax effect	0
Change in net unrealized loss on securities available for sale, net of tax	(1,671)
Other comprehensive loss, before tax	(1,671)	0	0
Income tax effect	0	0	0
Other comprehensive loss, net of tax	$ (1,671)	$ 0	$ 0

Accumulated Other Comprehensi70

Accumulated Other Comprehensive Loss - Accumulated other comprehensive income/loss (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2014	$ 0
Change in net unrealized losses on securities available for sale	(1,671)	$ 0	$ 0
Balance at December 31, 2015	$ (1,671)	$ 0

Debt - Additional Information (

Debt - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2018	Dec. 17, 2015USD ($)	Apr. 16, 2014USD ($)
Term Loan
Debt Instrument [Line Items]
Credit agreement issuance date	Apr. 16, 2014
Amount of Term loan					$ 50,000,000
Loan outstanding		245 days
Interest expense including debt issuance cost		$ 2,300,000
Term loan, weighted average interest rate		2.59%
Revolving Credit Facility
Debt Instrument [Line Items]
Current borrowing capacity				$ 120,000,000
Maximum rolling annual total net leverage ratio allowed	4
Actual leverage ratio	0
Issuance cost	$ 1,300,000
Revolving Credit Facility | Scenario, Forecast
Debt Instrument [Line Items]
Maximum rolling annual total net leverage ratio allowed			3
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Commitment fee	0.25%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Commitment fee	0.375%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Basis spread	1.75%
Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Maximum
Debt Instrument [Line Items]
Basis spread	2.00%

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 11, 2014	Dec. 31, 2014	Apr. 30, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Apr. 30, 2015	Dec. 16, 2014	Sep. 05, 2014
Class of Stock [Line Items]
Common stock, par value ($ per share)	$ 15	$ 0.01			$ 0.01	$ 0.01			$ 0.01
Proceeds from initial public offering, gross	$ 1,000,000			$ 0	$ 827,680	$ 0
Capital stock, shares authorized (shares)			622,614,174					910,000,000
Common stock, shares authorized (shares)		900,000,000			900,000,000	900,000,000		900,000,000
Preferred stock, shares authorized (shares)						246,470,064		10,000,000
Converted into (shares)			249,601,435
Convertible preferred stock converted to common stock (shares)			1
Series F Convertible Preferred Stock
Class of Stock [Line Items]
Common stock, shares (shares)			6,390,556
Preferred stock, par value ($ per share)			$ 0.01
Aggregate gross proceeds from preferred stock issuance			$ 65,000	$ 0	$ 64,803	$ 0
Capital stock, shares authorized (shares)						606,470,064	622,614,174
Common stock, shares authorized (shares)			372,000,000
Preferred stock, shares authorized (shares)			250,614,174
Convertible preferred stock converted to common stock (shares)			1
Common Stock
Class of Stock [Line Items]
Common stock, shares (shares)					59,000,000
Common stock, par value ($ per share)			$ 0.01
IPO
Class of Stock [Line Items]
Common stock, shares (shares)		66,700,000
Common stock, par value ($ per share)		$ 15			$ 15
Proceeds from initial public offering, gross		$ 1,000,000
Proceeds from initial public offering, net		$ 827,700

Stockholders' Equity - Converti

Stockholders' Equity - Convertible Preferred Stock (Detail) - USD ($) $ in Thousands	Dec. 16, 2014	Dec. 31, 2013
Class of Stock [Line Items]
Designated Shares (shares)	10,000,000	246,470,064
Issued and Outstanding Shares (shares)		240,194,788
Aggregate Liquidation Preference		$ 103,901
Amount		$ 103,244
Series A
Class of Stock [Line Items]
Designated Shares (shares)		68,025,100
Issued and Outstanding Shares (shares)		66,100,340
Aggregate Liquidation Preference		$ 17,599
Amount		$ 17,402
Series B
Class of Stock [Line Items]
Designated Shares (shares)		65,642,104
Issued and Outstanding Shares (shares)		65,577,300
Aggregate Liquidation Preference		$ 12,268
Amount		$ 12,164
Series C
Class of Stock [Line Items]
Designated Shares (shares)		62,486,436
Issued and Outstanding Shares (shares)		62,486,436
Aggregate Liquidation Preference		$ 24,490
Amount		$ 24,388
Series D
Class of Stock [Line Items]
Designated Shares (shares)		36,030,712
Issued and Outstanding Shares (shares)		36,030,712
Aggregate Liquidation Preference		$ 32,044
Amount		$ 31,943
Series E
Class of Stock [Line Items]
Designated Shares (shares)		14,285,712
Issued and Outstanding Shares (shares)		10,000,000
Aggregate Liquidation Preference		$ 17,500
Amount		$ 17,347

Stockholders' Equity - Shares o

Stockholders' Equity - Shares of Common Stock Reserved for Future Issuance (Detail) - shares	Dec. 31, 2015	Dec. 31, 2014
Class of Stock [Line Items]
Options outstanding	47,784,071
Total reserved for future issuance	88,803,240	96,948,298
Stock options
Class of Stock [Line Items]
Options outstanding	52,652,310	57,386,829
Total reserved for future issuance	33,560,939	36,561,469
Available for ESPP
Class of Stock [Line Items]
Total reserved for future issuance	2,589,991	3,000,000

Employee Incentive and Retire75

Employee Incentive and Retirement Plans - Stock-Based Compensation and Other Employee Benefit Plans - Additional Information (Detail)	Apr. 17, 2014USD ($)	Dec. 31, 2015USD ($)EquityPlan$ / sharesshares	Dec. 31, 2014USD ($)$ / sharesshares	Dec. 31, 2013USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit		$ 700,000
Income tax expense (benefit) from exercised stock options		0
Expense related to accelerated vesting of stock options		$ 300,000	$ 3,000,000	$ 0
Number of options to purchase common stock granted under the 2007 Plan | shares		48,208,911	57,386,829
Grants (shares) | shares		1,164,929
Grants ($ per share) | $ / shares		$ 20
Total intrinsic value of options exercised		$ 103,500,000	$ 48,600,000	26,200,000
Total fair value of stock options vested		$ 36,800,000	$ 19,600,000	$ 4,500,000
Unrecognized compensation cost expected period for recognition		2 years 5 months
Employee stock purchase plan, offering period		6 months
Issuance of common stock in connection with employee stock purchase plan (in shares) | shares		410,009
Total shares available for future issuance (shares) | shares		88,803,240	96,948,298
Service period		90 days
Employer 401(k) plan match to employee's eligible earnings, percentage		3.00%
Employer maximum annual match per employee for 401(k) plan		$ 5,000
Employer 401 (k) total match expense		2,100,000	$ 900,000
Stock issued related to acquisition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period for compensation arrangement	3 years
Stock issued related to acquisition | Series F Convertible Preferred Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Business acquisition, shares consideration		25,000,000
Business acquisition, value of shares placed in third party escrow to secure retention of key employees	$ 22,100,000	$ 22,100,000
Vesting period for compensation arrangement		3 years
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of fair market value of common stock		85.00%
Equity Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equity incentive plans | EquityPlan		2
Equity Incentive Plan Two Thousand Seven
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of options to purchase common stock granted under the 2007 Plan | shares		47,090,982
Equity Incentive Plan Twenty Fourteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares available for future grants | shares		33,560,939
Equity Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants (shares) | shares			22,081,243	12,707,000
Grants ($ per share) | $ / shares			$ 6.74	$ 2.44
Common stock, Weighted average grant date fair value per share ($ per share) | $ / shares		$ 9.80	$ 4.62	$ 2.71
Fair value		$ 11,400,000	$ 102,100,000	$ 34,400,000
Unrecognized compensation cost		$ 78,300,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost expected period for recognition		3 years 6 months
Grants ($ per share) | shares		4,807,875
Fair value		$ 74,600,000
Unrecognized compensation cost		$ 61,600,000
Available for ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Average price ($ per share) | $ / shares		$ 12.42
Total shares available for future issuance (shares) | shares		2,589,991	3,000,000
Developing software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount		$ 4,400,000	$ 1,900,000	$ 200,000

Employee Incentive and Retire76

Employee Incentive and Retirement Plans - Total Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 51,222	$ 37,150	$ 6,283
Stock issued related to acquisition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	9,416	9,946	0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	30,717	27,100	6,283
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,904	0	0
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 9,185	$ 104	$ 0

Employee Incentive and Retire77

Employee Incentive and Retirement Plans - Stock-Based Compensation Expense Recorded in Consolidated Statement of Operations (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 51,222	$ 37,150	$ 6,283
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,250	5,476	1,147
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,735	1,653	424
General and administrative: | Engineering and product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	11,335	6,445	2,336
General and administrative: | Other general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 29,902	$ 23,576	$ 2,376

Employee Incentive and Retire78

Employee Incentive and Retirement Plans - Schedule of Options Activity (Detail) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)$ / sharesshares
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock price ($ per share)	$ 11.05
Number of Options
Outstanding at December 31, 2014 | shares	57,386,829
Granted | shares	1,164,929
Exercised | shares	(7,579,324)
Forfeited/Expired | shares	(2,763,523)
Outstanding at December 31, 2015 | shares	48,208,911
Vested and expected to vest at December 31, 2015 | shares	47,784,071
Exercisable at December 31, 2015 | shares	27,290,693
Weighted- Average Exercise Price Per Share
Outstanding at December 31, 2014	$ 3.15
Granted	20
Exercised	1.57
Forfeited/Expired	6.57
Outstanding at December 31, 2015	3.60
Vested and expected to vest at December 31, 2015	3.58
Exercisable at December 31, 2015	$ 1.93
Weighted-Average Remaining Contractual Life (in years)
Outstanding at December 31, 2015	7 years 1 month
Vested and expected to vest at December 31, 2015	6 years 11 months
Exercisable at December 31, 2015	6 years 3 months
Outstanding at December 31, 2015 | $	$ 370,388
Vested and expected to vest at December 31, 2015 | $	368,127
Exercisable at December 31, 2015 | $	$ 250,057

Employee Incentive and Retire79

Employee Incentive and Retirement Plans - Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	0.00%	0.00%	0.00%
Stock options
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions and Methodology [Abstract]
Expected dividend yield	0.00%
Weighted-average assumed stock price volatility	49.40%	53.50%	59.10%
Weighted-average risk-free interest rate	1.61%	1.88%	1.46%
Weighted-average expected life (in years)	6 years 3 months	6 years 4 months 7 days	6 years 3 months 20 days

Employee Incentive and Retire80

Employee Incentive and Retirement Plans - RSUs (Details) - RSUs	12 Months Ended
	Dec. 31, 2015$ / sharesshares
Weighted- Average Grant Date Fair Value
Unvested at December 31, 2014 | $ / shares	$ 0
Granted | $ / shares	15.52
Vested | $ / shares	19.92
Forfeited/expired | $ / shares	18.44
Unvested at December 31, 2015 | $ / shares	15.23
Expected to vest after December 31, 2015 | $ / shares	$ 15.25
Number of Units
Unvested at December 31, 2014 | shares	0
Granted | shares	4,807,875
Vested | shares	(155,725)
Forfeited/expired | shares	(208,751)
Unvested at December 31, 2015 | shares	4,443,399
Expected to vest after December 31, 2015 | shares	4,251,011

Employee Incentive and Retire81

Employee Incentive and Retirement Plans - Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted under ESPP (Detail)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%
Available for ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%
Weighted-average assumed stock price volatility	43.70%	48.20%
Weighted-average risk-free rate	0.23%	0.09%
Weighted-average expected life (years)	5 months 16 days	6 months

Income Taxes - Components of ta

Income Taxes - Components of tax (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Income Tax Disclosure [Abstract]
Current Federal	$ 0	$ 0	$ 0
Current State	720	56	0
Total current tax expense	720	56	0
Deferred Federal	1,405	1,185	0
Deferred State	708	149	0
Total deferred tax expense	2,113	1,334	0
Income tax expense	$ 2,833	$ 1,390	$ 0

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Summary Of Net Deferred Tax Assets [Line Items]
Income (loss) before tax	$ (2,162)	$ (31,504)	$ 7,308
Estimated increase to equity	40,000
Net operating loss carryforwards	5,621	13,510
Valuation allowance		14,000
Valuation allowance	25,348	26,788
Federal
Summary Of Net Deferred Tax Assets [Line Items]
Operating loss carryforward	109,900
State and Local Jurisdiction
Summary Of Net Deferred Tax Assets [Line Items]
Operating loss carryforward	77,400
Research and development tax credit carry forward	2,100
Research and Development | Federal
Summary Of Net Deferred Tax Assets [Line Items]
Research and development tax credit carry forward	$ 800
Restatement Adjustment
Summary Of Net Deferred Tax Assets [Line Items]
Net operating loss carryforwards		$ 14,000

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of Income Tax Rate (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Effective Income Tax Rate Reconciliation, Amount
Tax at federal statutory rate	$ (738)	$ (10,711)	$ 2,485
State tax, net of federal tax benefit	1,277	98	563
Stock-based compensation expense	549	5,040	(593)
Research and development tax credits	(1,068)	0	(459)
Change in valuation allowance	2,686	6,858	(2,534)
Change in unrecognized tax benefit	(62)	0	518
Other	189	105	20
Income tax expense	$ 2,833	$ 1,390	$ 0

Income Taxes - Deferred Tax Ass

Income Taxes - Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Deferred tax assets:
Stock-based compensation	$ 19,696	$ 8,491
Reserves and accruals	11,506	6,249
Net operating loss carryforwards	5,621	13,510
Intangible assets	2,693	1,161
Tax credit carryforwards	1,810	552
Other	697	10
Servicing fees	0	1,428
Total deferred tax assets	42,023	31,401
Valuation allowance	(25,348)	(26,788)
Deferred tax assets – net of valuation allowance	16,675	4,613
Deferred tax liabilities:
Internally developed software	(11,353)	(2,967)
Depreciation and amortization	(4,089)	(1,798)
Goodwill	(3,163)	(1,180)
Servicing fees	1,516	0
Total deferred tax liabilities	20,121	5,945
Deferred tax (liability) asset – net	$ (3,446)	$ (1,332)

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefit (Detail) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Beginning balance	$ 491	$ 1,080	$ 367
Gross increase (decrease) for tax positions related to prior years	(310)	(589)	523
Gross increase for tax positions related to the current year	248	0	190
Ending balance	$ 429	$ 491	$ 1,080

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) ft² in Thousands	Aug. 19, 2015USD ($)	Dec. 31, 2015USD ($)ft²renewal_optiond	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Apr. 30, 2015ft²
Commitments and Contingencies [Line Items]
Lease agreement renewal term		5 years
Number of renewal terms | renewal_option		2
Rental expense		$ 7,400,000	$ 3,700,000	$ 1,900,000
Minimum rental expense		6,000,000	3,300,000	1,300,000
Security deposit made under lease agreement, cash		800,000
Security deposit made under lease agreement		$ 4,700,000
Number of business days | d		2
Amount committed to purchase under the agreement		$ 77,600,000	4,100,000	0
Document Fiscal Year Focus		2,015
Maximum cash pledged		$ 5,000,000
Pledged and restricted to support contingent obligation		$ 3,400,000	$ 3,400,000	$ 3,400,000
Stock issued related to acquisition
Commitments and Contingencies [Line Items]
Restitution	$ 700,000
San Francisco
Commitments and Contingencies [Line Items]
Lease agreement, leased area | ft²		169			112
Lease agreement expiration date		Jun. 30, 2022
Lease agreement renewal term		5 years
Westborough
Commitments and Contingencies [Line Items]
Lease agreement, leased area | ft²		26
Lease agreement expiration date		Jul. 31, 2021

Commitments and Contingencies88

Commitments and Contingencies - Future Minimum Lease Payments (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Commitments and Contingencies Disclosure [Abstract]
2,016	$ 12,085
2,017	15,095
2,018	16,056
2,019	15,624
2,020	16,526
Thereafter	57,217
Total	$ 132,603

Segment Reporting - Additional

Segment Reporting - Additional Information (Detail)	12 Months Ended
	Dec. 31, 2015segment
Segment Reporting [Abstract]
Number of reportable segments	1

Related Party Transactions (Det

Related Party Transactions (Details)	12 Months Ended
	Dec. 31, 2015USD ($)
Minimum
Related Party Transaction [Line Items]
Threshold	$ 120,000

Springstone Acquisition - Addit

Springstone Acquisition - Additional Information (Detail) - USD ($) $ in Thousands	Apr. 17, 2014	Dec. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition [Line Items]
Business acquisition, amount of cash paid			$ 0	$ 109,464	$ 0
Acquisition related costs reported in general and administrative expense				2,300
Series F Convertible Preferred Stock
Business Acquisition [Line Items]
Business acquisition, Values of shares of Series F convertible preferred stock given along with cash				$ 2,762
Stock issued related to acquisition
Business Acquisition [Line Items]
Business acquisition, date of acquisition			Apr. 17, 2014
Business acquisition, name of acquired entity	Springstone
Business acquisition, purchase price of acquired entity	$ 111,800
Business acquisition, amount of cash paid	109,000
Business acquisition, consideration placed in third party escrow to secure retention of key employees	25,600
Cash consideration held in escrow subject to vesting condition	$ 3,500
Vesting period for compensation arrangement	3 years
Business acquisition, cash placed in third party escrow to secure indemnification obligations	$ 19,000
Indemnification escrow holding period	15 months
Transactions costs paid	$ 2,400
Revenue		$ 15,300
Stock issued related to acquisition | Series F Convertible Preferred Stock
Business Acquisition [Line Items]
Business acquisition, Values of shares of Series F convertible preferred stock given along with cash	2,800
Business acquisition, value of shares placed in third party escrow to secure retention of key employees	$ 22,100		$ 22,100
Vesting period for compensation arrangement			3 years

Springstone Acquisition - Preli

Springstone Acquisition - Preliminary Purchase Price Allocation (Detail) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Apr. 17, 2014	Dec. 31, 2013
Assets:
Goodwill	$ 72,683	$ 72,592		$ 0
Stock issued related to acquisition
Assets:
Assets:			$ 2,256
Restricted cash			1,581
Property, equipment and software			366
Other assets			599
Identified intangible assets			40,200
Goodwill			72,592
Liabilities:
Accounts payable			239
Accrued expenses and other liabilities			5,536
Total purchase consideration			$ 111,819

Springstone Acquisition - Summa

Springstone Acquisition - Summary of Pro Forma Financial Information (Detail) - Stock issued related to acquisition - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Business Acquisition, Pro Forma Information, Nonrecurring Adjustment [Line Items]
Total net revenue	$ 219,174	$ 113,040
Net loss (1)	$ (33,796)	$ (17,592)
Basic net loss per share attributable to common stockholders ($ per share)	$ (0.45)	$ (0.34)
Diluted net loss per share attributable to common stockholders ($ per share)	$ (0.45)	$ (0.34)
One-time acquisition-related costs and compensation expenses adjustments		$ 8,600

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event	Feb. 09, 2016USD ($)
Subsequent Event [Line Items]
Authorized repurchase amount	$ 150,000,000
Repurchase period	1 year

Schedule II - Valuation and Q95

Schedule II - Valuation and Qualifying Accounts - Valuation and Qualifying Accounts (Detail) - Allowance for Deferred Tax Assets - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Period	$ 26,788	$ 19,931	$ 22,465
Charged to Expenses	0	6,857	0
Charged to Other Accounts	680	0	0
Deductions	2,120	0	2,534
Balance at End of Period	$ 25,348	$ 26,788	$ 19,931