LendingClub (LC) 10-Q 16 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Trading Symbol	ck0001409970
Entity Registrant Name	LENDINGCLUB CORPORATION
Entity Central Index Key	1,409,970
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		381,621,026

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 583,842	$ 623,531
Restricted cash	104,485	80,733
Securities available for sale	284,300	297,211
Loans at fair value (includes $3,037,233 and $3,022,001 from consolidated trust, respectively)	4,716,156	4,556,081
Accrued interest receivable (includes $24,536 and $24,477 from consolidated trust, respectively)	39,108	38,081
Property, equipment and software, net	64,194	55,930
Intangible assets, net	29,715	30,971
Goodwill	72,683	72,683
Other assets	53,860	38,413
Total assets	5,948,343	5,793,634
Liabilities and Stockholders’ Equity
Accounts payable	5,860	5,542
Accrued interest payable (includes $26,950 and $26,719 from consolidated trust, respectively)	41,637	40,244
Secured borrowings	15,113	0
Accrued expenses and other liabilities	50,088	61,243
Payable to investors	71,917	73,162
Notes and certificates at fair value (includes $3,050,728 and $3,034,586 from consolidated trust, respectively)	4,713,449	4,571,583
Total liabilities	4,898,064	4,751,774
Stockholders’ Equity
Common stock, $0.01 par value; 900,000,000 shares authorized at both March 31, 2016 and December 31, 2015; 381,363,565 and 379,716,630 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively	3,836	3,797
Additional paid-in capital	1,150,877	1,127,952
Accumulated deficit	(84,081)	(88,218)
Treasury stock, at cost; 2,282,700 and 0 shares at March 31, 2016 and December 31, 2015, respectively	(19,485)	0
Accumulated other comprehensive loss	(868)	(1,671)
Total stockholders’ equity	1,050,279	1,041,860
Total liabilities and stockholders’ equity	$ 5,948,343	$ 5,793,634

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Member Loans at fair value, from consolidated trust	$ 4,716,156	$ 4,556,081
Accrued interest receivable from consolidated Trust	39,108	38,081
Accrued interest payable from consolidated Trust	41,637	40,244
Notes and certificates, at fair value from consolidated Trust	$ 4,713,449	$ 4,571,583
Common stock, par value ($ per share)	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	381,363,565	379,716,630
Common stock, shares outstanding	381,363,565	379,716,630
Treasury stock, shares	2,282,700	0
Consolidated Trust
Member Loans at fair value, from consolidated trust	$ 3,037,233	$ 3,022,001
Accrued interest receivable from consolidated Trust	24,536	24,477
Accrued interest payable from consolidated Trust	26,950	26,719
Notes and certificates, at fair value from consolidated Trust	$ 3,050,728	$ 3,034,586

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2016	Mar. 31, 2015
Operating revenue:
Transaction fees		$ 124,508	$ 72,482
Servicing fees		16,942	5,392
Management fees		3,545	2,215
Other revenue		6,270	956
Total operating revenue		151,265	81,045
Net interest income:
Total interest income		177,879	113,472
Total interest expense		(176,683)	(113,280)
Net interest income		1,196	192
Fair value adjustments, loans, notes and certificates		(167)	(5)
Net interest income and fair value adjustments		1,029	187
Total net revenue		152,294	81,232
Operating expenses:
Sales and marketing	[1]	66,575	34,470
Origination and servicing	[1]	19,198	12,201
Engineering and product development	[1]	24,198	13,898
Other general and administrative	[1]	38,035	26,410
Total operating expenses	[1]	148,006	86,979
Income (loss) before income tax expense		4,288	(5,747)
Income tax expense		151	627
Net income (loss)		$ 4,137	$ (6,374)
Basic net income (loss) per share attributable to common stockholders ($ per share)		$ 0.01	$ (0.02)
Diluted net income (loss) per share attributable to common stockholders ($ per share)		$ 0.01	$ (0.02)
Weighted-average shares of common stock used in computing basic net income (loss) per share (shares)		380,266,636	371,959,312
Weighted-average shares of common stock used in computing diluted net income (loss) per share (shares)		392,397,825	371,959,312
[1]	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1 – Basis of Presentation” for additional information.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 4,137	$ (6,374)
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in net unrealized loss on securities available for sale	803	0
Other comprehensive income, before tax	803	0
Income tax effect	0	0
Other comprehensive income, net of tax	803	0
Comprehensive income (loss)	$ 4,940	$ (6,374)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net income (loss)	$ 4,137	$ (6,374)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Net fair value adjustments of loans, notes and certificates	167	5
Change in fair value of loan servicing liabilities	(2,078)	424
Change in fair value of loan servicing assets	(232)	(1,315)
Stock-based compensation, net	15,021	11,593
Excess tax benefit from share-based awards	(39)	0
Depreciation and amortization	6,655	4,693
Gain on sales of loans	(4,699)	(95)
Other, net	30	18
Purchase of whole loans to be sold	(1,308,463)	(622,050)
Proceeds from sales of whole loans	1,308,463	622,145
Net change in operating assets and liabilities:
Accrued interest receivable	(1,027)	(2,315)
Other assets	657	(2,074)
Due from related parties	(242)	(57)
Accounts payable	(123)	(1,812)
Accrued interest payable	1,393	2,719
Accrued expenses and other liabilities	(9,679)	990
Net cash provided by operating activities	9,941	6,495
Cash Flows from Investing Activities:
Purchases of loans	(921,825)	(852,827)
Principal payments received on loans	586,159	369,379
Proceeds from recoveries and sales of charged-off loans	10,191	3,472
Purchases of securities available for sale	(3,661)	0
Proceeds from maturities, redemptions and paydowns of securities available for sale	17,374	0
Investment in Cirrix Capital	(10,000)	0
Net change in restricted cash	(23,752)	7,516
Purchases of property, equipment and software, net	(10,483)	(6,240)
Net cash used in investing activities	(355,997)	(478,700)
Cash Flows from Financing Activities:
Change in payable to investors	(1,245)	(7,924)
Proceeds from issuances of notes and certificates	901,258	852,715
Proceeds from secured borrowings	15,113	0
Principal payments on notes and certificates	(583,982)	(365,711)
Payments on notes and certificates from recoveries/sales of related charged-off loans	(10,177)	(3,461)
Repurchases of common stock	(19,485)	0
Proceeds from stock option exercises and other	4,846	863
Excess tax benefit from share-based awards	39	0
Other financing activities	0	68
Net cash provided by financing activities	306,367	476,550
Net (Decrease) Increase in Cash and Cash Equivalents	(39,689)	4,345
Cash and Cash Equivalents, Beginning of Period	623,531	869,780
Cash and Cash Equivalents, End of Period	583,842	874,125
Supplemental Cash Flow Information:
Cash paid for interest	175,224	110,562
Accruals for property, equipment and software	$ 4,286	$ 1,184

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
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) and a fund of which its wholly-owned subsidiary RV MP Fund GP, LLC, is the general partner. RV MP Fund GP, LLC, is a wholly-owned subsidiary of LCA that acts as the general partner for a private fund. 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 (Certificate) issued by the Trust and that are related to specific underlying loans for the benefit of the investor. Historically, the Company's overall business model has not been premised on using its balance sheet and assuming credit risk for loans facilitated by our marketplace. In order to support contractual obligations (Pool B loans and repurchase obligations), regulatory commitments (direct mail), short-term marketplace equilibrium, customer accommodations, or other needs, the Company may use its capital on the platform from time to time on terms that are substantially similar to other investors. Additionally, the Company may use its capital to invest in loans associated with the testing or initial launch of new or alternative loan terms, programs or channels to establish a track record of performance prior to facilitating third-party investments in these loans. In the five business days since the announcement of the internal board review described below, the Company has been actively exploring ways to restore investor confidence in its platform and obtain additional investment capital for the platform. These efforts may take a number of different structures and terms, including equity or debt transactions, alternative fee arrangements or other inducements including equity. These structures may enable the Company or third-parties to purchase loans through the platform. There is no assurance that the Company may be able to enter into any of these transactions, or if it does, what the final terms will be beneficial to the Company. If the Company's attempts to secure additional investor capital to meet platform origination volume are not successful, it likely may need to use a greater amount of its own capital to purchase loans on its platform compared to prior periods, particularly in light of regulatory commitments to purchase loans solicited by direct mail and other contractual purchase obligations. The Company also may need to reduce its platform’s origination volume. These actions likely may have material adverse impacts on the Company's business, financial condition (including its liquidity), results of operations and ability to sustain and grow loan volume. For additional information, see in “ Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Board Review. ” The Company believes based on its projections and ability to reduce loan volume if needed, that its cash on hand, funds available from its line of credit, and its cash flow from operations are expected to be sufficient to meet its liquidity needs for the next twelve months. The accompanying unaudited condensed consolidated financial statements include Lending Club, its subsidiaries (collectively referred to as the Company, we, or us) and the Trust. All intercompany balances and transactions have been eliminated. These condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim 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. These condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the periods presented. These adjustments are of a normal recurring nature. Actual results may differ from those estimates and results reported in the interim periods are not necessarily indicative of the results for the full year or any other interim period. 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. The accompanying interim condensed consolidated financial statements and these related notes should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (Annual Report). The Company's significant accounting policies are included in “ Note 2 – Summary of Significant Accounting Policies. ”

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies The Company's significant accounting policies are discussed in “ Part II – Item 8 – Financial Statements and Supplementary Data – Note 2 – Summary of Significant Accounting Policies ” in the Annual Report. There have been no significant changes to these significant accounting policies during the first quarter of 2016 , except as noted below. 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 in facilitating loans for its issuing bank partners. These fees are recognized as a component of operating revenue at the time of loan issuance. Factors affecting the amount of fees paid to the issuing bank by the borrower and from the bank to the Company include initial loan amount, term, credit quality, and other factors. Commencing with the origination fee increase announced in March 2016, in the event a borrower prepays a loan in full before maturity, the Company assumes the issuing bank partner's obligation under Utah law to refund the pro-rated amount of the fee received by the bank in excess of 5% . Additionally, the Company may provide refunds to patient finance borrowers when the borrower cancels the loan under certain conditions. Since Lending Club can estimate refunds based on loan cancellation or prepayment experience, the Company records transaction fee revenue net of estimated refunds at the time of loan issuance. 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 or activities by certain investors; (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. 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 condensed consolidated financial statements. A controlling financial interest exists if the Company has both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance (power) and the obligation to absorb losses or receive benefits that could be potentially significant to the VIE (economics). LC Trust I The Company has determined that the Trust is a VIE and that the Company has a controlling financial interest in the Trust and therefore must consolidate the Trust in its condensed consolidated financial statements. The Company established the Trust in February 2011 and funded it with a nominal residual investment. The Company is the only residual investor in the Trust. The purpose of the Trust is to acquire and hold loans for the benefit of investors who have invested in certificates issued by the Trust. The Trust conducts no other business other than purchasing and retaining loans or portions thereof for the benefit of the investment funds and their underlying limited partners. The Trust holds loans, none of which are financed by the Company. The cash flows from the loans held by the Trust are used to repay obligations under the certificates. The Trust’s assets and liabilities were reflected in the Company's consolidated financial statements at March 31, 2016 and December 31, 2015. In connection with the formation of the investment funds, it was determined that in order to achieve success in raising investment capital, the assets to be invested in by the investment funds must be held by an entity that was separate and distinct from the Company (i.e. bankruptcy remote) in order to reduce this risk and uncertainty. In the event of the Company's insolvency, it is anticipated that the assets of the Trust would not become part of the bankruptcy estate, but that outcome is uncertain. The Company's capital contributions, which are the only equity investments in the Trust, are insufficient to allow the Trust to finance the purchase of a significant amount of loans without the issuance of certificates to investors. Therefore, the Trust’s capitalization level qualifies the Trust as a VIE. The Company has a financial interest in the Trust because of its right to returns related to servicing fee revenue from the Trust, its right to reimbursement for expenses, and its obligation to repurchase loans from the Trust in certain instances. Additionally, the Company performs or directs activities that significantly affect the Trust’s economic performance through or by (i) operation of the platform that enables borrowers to apply for loans purchased by the Trust; (ii) credit underwriting and servicing of loans purchased by the Trust; (iii) LCA's selection of the loans that are purchased by the Trust on behalf of advised Certificate holders; and (iv) LCA’s role to source investors that ultimately purchase limited partnership interests in a fund or Certificates, both of which supply the funds for the Trust to purchase loans. Collectively, the activities described above allow the Company to fund more loans than would be the case without the existence of the Trust, to collect the related loan transaction fees and for LCA to collect the management fees on the investors’ capital used to purchase certificates. Accordingly, the Company is deemed to have power to direct activities most significant to the Trust and economic interest in the activities because of loan funding and transaction and management fees. Therefore, the Company concluded that it is the primary beneficiary of the Trust and consolidated the Trust’s operations in its condensed consolidated financial statements. Investment In Cirrix Capital On April 1, 2016, the Company closed its $10.0 million investment, for an approximate ownership interest of 15% , in Cirrix Capital (Investment Fund), a holding company to a family of funds that purchases loans and interests in loans from the Company. Per the partnership agreement, the family of funds can invest up to 20% of their assets outside of whole loans and interests in whole loans facilitated by the Company. At March 31, 2016, 100% of the family of funds' assets were comprised of whole loans and interests in loans facilitated by Lending Club's platform. The Company's former Chief Executive Officer (former CEO) and a board member (together, Related Party Investors) also have limited partnership interests in the Investment Fund that resulted in an aggregate ownership of approximately 31% in the Investment Fund at April 1, 2016 by the Related Party Investors and the Company. The Company's investment is deemed to be a variable interest in the Investment Fund because the limited partnership interest shares in the expected returns and losses of the Investment Fund. The expected returns and losses of the Investment Fund result from the net returns of the family of funds owned by the Investment Fund, which are derived from interest income earned from loans and interests in whole loans that are purchased by the Investment Fund and were facilitated by the Company. Additionally, the Investment Fund is considered a VIE. The Company is not the primary beneficiary of the Investment Fund because the Company does not have the power to direct the activities that most significantly affect the Investment Fund’s economic performance. As a result, the Company does not consolidate the operations of the Investment Fund in financial statements of the Company. The Company accounts for this investment under the equity method of accounting, which approximates its maximum exposure to loss as a result of its involvement in the Investment Fund. At March 31, 2016, the Company had subscribed to invest $10.0 million in the Investment Fund, which was recorded in other assets in the condensed consolidated balance sheet. Separately, the Company is subject to a credit support agreement that requires it to pledge and restrict cash in support of its contingent obligation to reimburse the Investment Fund for net credit losses on loans underlying the interests in whole loans that are in excess of a specified, aggregate net loss threshold. The Related Party Investors and the Company are excluded from receiving any benefits, if provided, from this credit support agreement. As of March 31, 2016, the Company has not been required to nor does it anticipate recording losses under this agreement. In conjunction with the Company's determination that the Company has a variable interest in a VIE, the Investment Fund, it is required to disclose the Company's maximum exposure to loss under this credit support agreement, which was $39.0 million and $34.4 million at March 31, 2016 and December 31, 2015, respectively, and assumes all loans covered under this credit support agreement default. The Investment Fund passes along credit risk to the limited partners. The Company did not design the Investment Fund’s investment strategy and cannot require the Investment Fund to purchase loans. Additionally, the Company reviewed whether it collectively, with the Related Party Investors, had power to control the Investment Fund and concluded that it did not based on the unilateral ability of the general partner to exercise power over the limited partnership and the inability of the limited partners to remove the general partner. See “ Note 18 – Related Party Transactions ” for additional information. LCA Managed or Advised Private Funds In conjunction with the adoption of a new accounting standard that amends accounting for consolidations effective January 1, 2016, the Company reviewed its relationship with the private funds managed or advised by LCA and concluded that it does not have a variable interest in the private funds. As of March 31, 2016, the Company does not hold any investments in the private funds. Certain of the Company's related parties have investments in the private funds, as discussed in “ Note 18 – Related Party Transactions. ” The Company charges the limited partners in the private funds a management fee based on their account balance at month end for services performed as the general manager, including fund administration, and audit, accounting and tax preparation services. Accordingly, the Company's fee arrangements contain only terms, conditions, or amounts that are customarily present in arrangements for similar services negotiated at arm’s length. These fees are solely compensation for services provided and are commensurate with the level of effort required to provide those services. The Company does not have any other interests in the private funds and therefore does not have a variable interest in the private funds. Management regularly reviews and reconsiders its previous conclusions regarding whether it holds a variable interest in potential VIEs, the status of an entity as a VIE, and whether the Company is required to consolidate such VIEs in the condensed consolidated financial statements. Servicing Rights As a result of the nature of servicing rights on the sale of loans, the Company is a variable interest holder in certain entities that purchase these loans. For all of these entities the Company either does not have the power to direct the activities that most significantly affect the VIE's economic performance or it does not have a potentially significant economic interest in the VIE. In no case is the Company the primary beneficiary and as a result none of these entities are consolidated on the Company's condensed consolidated financial statements. Debt The Company has elected to record certain costs directly related to issuing its secured revolving credit facility as an asset included in other assets on the Company’s condensed consolidated balance sheets. These costs are amortized as interest expense over the contractual term of the secured revolving credit facility. On a limited basis, the Company may transfer loans to investors that do not meet sale criteria for accounting purposes. These loans are recorded as secured borrowings on the condensed consolidated balance sheets. Adoption of New Accounting Standard In February 2015, the Financial Accounting Standards Board (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 adoption of this guidance did not have an impact on the Company's financial position, results of operations, earnings per share (EPS) or cash flows. The adoption of this guidance is further discussed above in “ Consolidation of Variable Interest Entities. ” New Accounting Standards Not Yet Adopted In March 2016, the FASB amended guidance related to the accounting for share-based payments, which will be effective January 1, 2017. The guidance simplifies the accounting for share-based payments related to the income tax consequences of share-based awards, the classification of awards in a company's financial statements, and estimating forfeitures of awards. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In May 2014, the FASB issued new guidance on revenue recognition, which will be effective January 1, 2018. 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. In March 2016, the Board issued an amendment to the new revenue recognition guidance clarifying how to determine if an entity is a principal or agent in a transaction. The effective date and transition requirements for this amendment is the same as those for the new revenue guidance. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In February 2016, the FASB amended guidance related to the lease accounting, which will be effective January 1, 2019. The guidance requires an entity to recognize a right-of-use asset and lease liability for most lease arrangements. The standard also requires additional disclosures related to lease arrangements. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS, and cash flows. In January 2016, the FASB amended guidance related to recognition and measurement of financial instruments, which will be effective January 1, 2018. The amendment changes the accounting for equity investments, change disclosure requirements related to instruments at amortized cost and fair value, and clarifies 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, EPS, and 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. There have been no other changes to these significant accounting policies during the first quarter of 2016.

Net Income (Loss) Per Share and

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders	3 Months Ended
	Mar. 31, 2016
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: Three Months Ended 2016 2015 Net income (loss) (1) $ 4,137 $ (6,374 ) Weighted average common shares - Basic (2) 380,266,636 371,959,312 Weighted average common shares - Diluted (2) 392,397,825 371,959,312 Net income (loss) per share attributable to common stockholders: Basic $ 0.01 $ (0.02 ) Diluted $ 0.01 $ (0.02 ) (1) Also represents net income (loss) available to common stockholders. 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. There were no dividends declared in the first quarters of 2016 or 2015 . The Company had no participating securities as of March 31, 2016 or March 31, 2015 . (2) Net of 2,282,700 shares repurchased in the first quarter of 2016 under the Company's share repurchase program. See “ Note 14 – Employee Incentive and Retirement Plans – Share Repurchases ” for additional information.

Securities Available for Sale

Securities Available for Sale	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 , were as follows: March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 209,955 $ 93 $ (877 ) $ 209,171 Asset-backed securities 48,116 5 (42 ) 48,079 U.S. agency securities 16,602 2 (21 ) 16,583 U.S. Treasury securities 3,490 26 — 3,516 Other securities 7,005 — (54 ) 6,951 Total securities available for sale $ 285,168 $ 126 $ (994 ) $ 284,300 December 31, 2015 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 March 31, 2016 and December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total March 31, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 166,436 $ (877 ) $ — $ — $ 166,436 $ (877 ) Asset-backed securities 35,235 (42 ) — — 35,235 (42 ) U.S. agency securities 14,582 (21 ) — — 14,582 (21 ) Other securities 6,950 (54 ) — — 6,950 (54 ) Total securities with unrealized losses (1) $ 223,203 $ (994 ) $ — $ — $ 223,203 $ (994 ) Less than 12 months Total December 31, 2015 Fair Unrealized Fair Unrealized Fair Unrealized 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 at March 31, 2016 and December 31, 2015 totaled 109 and 141 , respectively. There were no impairment charges recognized during the first quarter of 2016 . The contractual maturities of securities available for sale at March 31, 2016 , 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 $ 48,374 $ 160,797 $ — $ — $ 209,171 Asset-backed securities 1,221 46,858 — — 48,079 U.S. agency securities — 16,583 — — 16,583 U.S. Treasury securities 1,000 2,516 — — 3,516 Other securities 1,999 4,952 — — 6,951 Total fair value $ 52,594 $ 231,706 $ — $ — $ 284,300 Total amortized cost $ 52,648 $ 232,520 $ — $ — $ 285,168 There were no sales of securities available for sale during the first quarter of 2016 .

Loans, Notes and Certificates,

Loans, Notes and Certificates, and Loan Servicing Rights	3 Months Ended
	Mar. 31, 2016
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 sells loans and issues notes and the Trust issues certificates as a means to allow investors to invest in the associated loans. At March 31, 2016 and December 31, 2015 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates March 31, December 31, March 31, December 31, Aggregate principal balance outstanding $ 4,932,346 $ 4,681,671 $ 4,929,468 $ 4,697,169 Net fair value adjustments (216,190 ) (125,590 ) (216,019 ) (125,586 ) Fair value $ 4,716,156 $ 4,556,081 $ 4,713,449 $ 4,571,583 Original term 12 - 60 months 12 - 60 months Interest rates (fixed) 4.99% - 31.89 % 4.99% - 29.90% Maturity dates ≤ March 2021 ≤ December 2020 Loans at fair value include $23.8 million of loans purchased by the Company, of which $15.1 million are pledged under a loan transfer that was accounted for as secured borrowings at March 31, 2016. See “ Note 12 – Secured Borrowings ” for additional information. At March 31, 2016 and December 31, 2015 , loans that were 90 days or more past due (including non-accrual loans) were as follows: March 31, 2016 December 31, 2015 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 28,398 $ 2,904 $ 30,094 $ 4,513 Net fair value adjustments (23,622 ) (2,398 ) (25,312 ) (3,722 ) Fair value $ 4,776 $ 506 $ 4,782 $ 791 # of loans (not in thousands) 2,440 282 2,606 382 Loan Servicing Rights At March 31, 2016 , loans underlying loan servicing rights had a total outstanding principal balance of $5.27 billion , original terms between 12 and 84 months , monthly payments with interest rates ranging from 2.99% to 33.15% and maturity dates through March 2023 . 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 .

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	3 Months Ended
	Mar. 31, 2016
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 first quarters of 2016 or 2015 . Financial Instruments Recorded at Fair Value The following tables present the fair value hierarchy for assets and liabilities measured at fair value: March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,716,156 $ 4,716,156 Securities available for sale: Corporate debt securities — 209,171 — 209,171 Asset-backed securities — 48,079 — 48,079 U.S. agency securities — 16,583 — 16,583 U.S. Treasury securities — 3,516 — 3,516 Other securities — 6,951 — 6,951 Total securities available for sale — 284,300 — 284,300 Servicing assets — — 16,964 16,964 Total assets $ — $ 284,300 $ 4,733,120 $ 5,017,420 Liabilities: Notes and certificates $ — $ — $ 4,713,449 $ 4,713,449 Servicing liabilities — — 2,827 2,827 Total liabilities $ — $ — $ 4,716,276 $ 4,716,276 December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at 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 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 March 31, 2016 and December 31, 2015 : March 31, 2016 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes and certificates Discount rates 3.0 % 22.7 % 8.1 % Net cumulative expected loss rates (1) 0.3 % 27.5 % 11.6 % Cumulative prepayment rates (1) 8.0 % 44.3 % 32.6 % Servicing asset/liability Discount rates 3.5 % 21.6 % 9.0 % Net cumulative expected loss rates (1) 0.3 % 27.5 % 9.7 % Cumulative prepayment rates (1) 8.0 % 44.3 % 36.6 % Total market servicing rates (% per annum on unpaid principal balance) (2) 0.57 % 0.90 % 0.57 % 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) (3) 0.50 % 0.75 % 0.50 % (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Includes ancillary fees estimated to be paid to a hypothetical third-party servicer. (3) Excludes ancillary fees that would be passed on to a hypothetical third-party servicer. As of December 31, 2015, the market rate for ancillary fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points. At March 31, 2016 and December 31, 2015 , the discounted cash flow methodology used to estimate the notes and certificates' fair values used the same projected net cash flows as their related loans. As demonstrated by the following 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 tables present additional information about Level 3 loans, notes and certificates measured at fair value on a recurring basis for the first quarters of 2016 and 2015 : Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2015 $ 4,681,671 $ (125,590 ) $ 4,556,081 $ 4,697,169 $ (125,586 ) $ 4,571,583 Purchases of loans 2,230,288 — 2,230,288 — — — Issuances of notes and certificates — — — 901,258 — 901,258 Whole loan sales (1,308,463 ) — (1,308,463 ) — — — Principal payments (586,159 ) — (586,159 ) (583,982 ) — (583,982 ) Charge-offs (84,991 ) 84,991 — (84,977 ) 84,977 — Recoveries — (10,191 ) (10,191 ) — (10,177 ) (10,177 ) Change in fair value recorded in earnings — (165,400 ) (165,400 ) — (165,233 ) (165,233 ) Ending balance at March 31, 2016 $ 4,932,346 $ (216,190 ) $ 4,716,156 $ 4,929,468 $ (216,019 ) $ 4,713,449 Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2014 $ 2,836,729 $ (38,224 ) $ 2,798,505 $ 2,851,837 $ (38,219 ) $ 2,813,618 Purchases of loans 1,474,972 — 1,474,972 — — — Issuances of notes and certificates — — — 852,715 — 852,715 Whole loan sales (622,145 ) — (622,145 ) — — — Principal payments (369,379 ) — (369,379 ) (365,711 ) — (365,711 ) Charge-offs (43,821 ) 43,821 — (43,807 ) 43,807 — Recoveries — (3,472 ) (3,472 ) — (3,461 ) (3,461 ) Change in fair value recorded in earnings — (47,820 ) (47,820 ) — (47,815 ) (47,815 ) Ending balance at March 31, 2015 $ 3,276,356 $ (45,695 ) $ 3,230,661 $ 3,295,034 $ (45,688 ) $ 3,249,346 The following table presents additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the first quarters of 2016 and 2015 : Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 10,250 $ (3,973 ) $ 2,181 $ (3,973 ) Issuances (1) 5,631 (932 ) 1,508 (1,412 ) Changes in fair value, included in servicing fees 232 2,078 (491 ) 988 Additions, included in deferred revenue 851 — 298 — Fair value at end of period $ 16,964 $ (2,827 ) $ 3,496 $ (4,397 ) (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue. A portion of the servicing fee revenue increase in the first quarter of 2016 compared to the same period in 2015 was due to an increase in the Company's servicing asset valuation. This resulted from an increase in the Company's expected cash flows from ancillary fees (collection and recovery fees) due to contractual servicing fee increases. 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 first quarters of 2016 and 2015 . 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 estimated 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 market servicing rates for servicing assets and servicing liabilities is inherently judgmental. The Company reviewed estimated 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 estimated total market servicing rates on its loans ranging from 0.57% to 0.90% per annum of outstanding principal are reasonable estimates as of March 31, 2016 and 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 . The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different market servicing rate assumptions as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions (1) 0.57 % 0.57 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase by 0.10% $ (4,852 ) $ 1,235 $ (3,504 ) $ 1,589 Servicing rate decrease by 0.10% $ 4,960 $ (1,127 ) $ 3,610 $ (1,483 ) (1) Represents total market servicing rates, which include ancillary fees, at March 31, 2016 , and base market servicing rates, which exclude ancillary fees, at December 31, 2015 . As of December 31, 2015, the market rate for ancillary fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points. Financial Instruments Not Recorded at Fair Value The following tables present the fair value hierarchy for financial instruments not recorded at fair value: March 31, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 583,842 $ — $ 583,842 $ — $ 583,842 Restricted cash 104,485 — 104,485 — 104,485 Deposits 872 — 872 — 872 Total assets $ 689,199 $ — $ 689,199 $ — $ 689,199 Liabilities: Accrued expenses and other liabilities $ 1,699 $ — $ — $ 1,699 $ 1,699 Accounts payable $ 5,860 $ — $ 5,860 $ — $ 5,860 Payables to investors 71,917 — 71,917 — 71,917 Total liabilities $ 79,476 $ — $ 77,777 $ 1,699 $ 79,476 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

Property, Equipment and Softwar

Property, Equipment and Software, net	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software, net, consist of the following: March 31, December 31, Internally developed software $ 50,413 $ 40,709 Computer equipment 14,724 14,076 Leasehold improvements 13,540 11,559 Purchased software 6,311 5,336 Furniture and fixtures 5,413 5,086 Construction in progress 2,866 2,870 Total property, equipment and software 93,267 79,636 Accumulated depreciation and amortization (29,073 ) (23,706 ) Total property, equipment and software, net $ 64,194 $ 55,930 Depreciation and amortization expense on property, equipment and software was $5.4 million and $3.1 million for the first quarters of 2016 and 2015 , respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: March 31, December 31, Loan servicing assets, at fair value $ 16,964 $ 10,250 Prepaid expenses 13,825 16,283 Other investments 10,250 250 Accounts receivable 5,745 4,976 Receivable from investors 1,706 1,117 Deferred financing cost 1,229 1,296 Deferred acquisition compensation 1,228 1,521 Due from related parties (1) 897 655 Deposits 872 871 Tenant improvement receivable 778 778 Other 366 416 Total other assets $ 53,860 $ 38,413 (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	3 Months Ended
	Mar. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets The Company's intangible asset balance was $29.7 million and $31.0 million at March 31, 2016 and December 31, 2015 , respectively. Amortization expense associated with intangible assets for the first quarters of 2016 and 2015 was $1.3 million and $1.5 million , respectively. Goodwill The Company's goodwill balance was $72.7 million at March 31, 2016 , and December 31, 2015 . The Company did not record any goodwill impairment expense for the first quarters of 2016 or 2015 . Between annual goodwill impairment testing dates, the Company is required to evaluate qualitative and quantitative factors to determine whether it is more likely than not that the fair value of its goodwill reporting unit is more than its carrying value. These factors may include loss of key personnel, increased regulatory oversight, unplanned changes in our operations, 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. As of March 31, 2016, after weighing all the negative and positive available evidence, the Company concluded that it was more likely than not that the fair value of its reporting unit exceeded the carrying value. Therefore, the Company did not record a goodwill impairment charge during the first quarter of 2016. Subsequent to March 31, 2016, the Company announced that the board of directors accepted the resignation of Renaud Laplanche as CEO and Chairman. The Company considers loss of key personnel to be an adverse indicator of potential goodwill impairment. The loss of the services of our executive officers or members of our senior management team, and the process to replace any of them, would involve significant time and expense and may significantly delay or prevent the achievement of our business objectives. In addition, the Company may be subject to litigation related to the events surrounding the resignation of Mr. Laplanche. Moreover, the Company has been contacted by regulatory authorities requesting information related to the events surrounding the resignation of Mr. Laplanche, and the Company intends to cooperate fully with those inquiries. These occurrences could result in adverse publicity and adversely affect the Company’s brand. As a result, the Company could record goodwill impairment expense upon completion of the annual goodwill impairment test in the second quarter of 2016.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: March 31, December 31, Accrued expenses $ 19,486 $ 14,054 Accrued compensation 10,387 28,780 Deferred rent 5,473 4,615 Deferred tax liability 3,623 3,446 Deferred revenue 3,402 2,551 Loan servicing liabilities, at fair value 2,827 3,973 Payable to issuing bank 1,820 955 Transaction fee refund reserve 1,292 578 Early stock option exercise and other equity-related liabilities 71 83 Contingent liabilities 39 700 Other 1,668 1,508 Total accrued expenses and other liabilities $ 50,088 $ 61,243

Accumulated Other Comprehensive

Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2016
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 income were as follows: Three Months Ended March 31, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized loss on securities available for sale $ 803 $ — $ 803 $ — $ — $ — Other comprehensive income $ 803 $ — $ 803 $ — $ — $ — Accumulated other comprehensive loss balances were as follows: Total Accumulated Other Comprehensive Loss Balance at December 31, 2015 $ (1,671 ) Change in net unrealized loss on securities available for sale 803 Balance at March 31, 2016 $ (868 )

Secured Borrowings

Secured Borrowings	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Secured Borrowings	Secured Borrowings Subsequent to March 31, 2016, the Company repurchased $22.3 million of near-prime loans from a single institutional investor that did not meet a non-credit, non-pricing requirement of the investor, of which $15.1 million were originally sold to the investor prior to March 31, 2016. As a result, these loans were accounted for as secured borrowings at March 31, 2016. For additional information, see “ Note 16 – Commitments and Contingencies. ” On April 26, 2016, the Company resold the loans to a different investor at par. This subsequent transfer qualified for sale accounting treatment, and the loans were removed from the Company's condensed consolidated balance sheet and the secured borrowings liability was reduced to zero in the second quarter of 2016. For additional information regarding these matters, see “ Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Board Review ” and “ Item 4 – Controls and Procedures. ”

Debt

Debt	3 Months Ended
	Mar. 31, 2016
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 secured 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 at an alternative base rate (which is tied to either the prime rate, federal funds effective rate, or the adjusted euro currency rate, as defined in the credit agreement). Base rate borrowings may be prepaid at any time without penalty, however, prepayment 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 its 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 March 31, 2016 , 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 first quarter of 2016 . The Company incurred $1.3 million of capitalized debt issuance costs, which will be recognized as interest expense through December 17, 2020 .

Employee Incentive and Retireme

Employee Incentive and Retirement Plans	3 Months Ended
	Mar. 31, 2016
Postemployment Benefits [Abstract]
Employee Incentive and Retirement Plans	Employee Incentive and Retirement Plans The Company’s equity incentive plans provide for granting stock options and restricted stock units (RSUs) to employees, consultants, officers and directors. In addition, the Company offers a retirement plan and an employee stock purchase plan (ESPP) to eligible employees. Stock-based compensation expense was as follows for the periods presented: Three Months Ended 2016 2015 Stock options $ 7,657 $ 7,086 RSUs 5,126 481 ESPP 388 479 Stock issued related to acquisition 1,850 3,547 Total stock-based compensation expense $ 15,021 $ 11,593 The following table presents the Company's stock-based compensation expense recorded in the condensed consolidated statements of operations: Three Months Ended 2016 2015 (1) Sales and marketing $ 1,904 $ 1,508 Origination and servicing 746 606 Engineering and product development 3,723 1,798 Other general and administrative 8,648 7,681 Total stock-based compensation expense $ 15,021 $ 11,593 (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 $1.9 million and $0.8 million of stock-based compensation expense associated with developing software for internal use during the first quarters of 2016 and 2015 , respectively. In addition, the Company recognized $39 thousand in tax benefits from exercised stock options and RSUs during the first quarter of 2016 . There was no net income tax benefit recognized 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 during the first quarter of 2015 . 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 March 31, 2016 , 42,810,226 options to purchase common stock granted under the 2007 Plan remain outstanding. As of March 31, 2016 , the total number of shares available for future grants under the 2014 Plan was 44,040,590 shares, including shares transferred from the 2007 Plan. Stock Options The following table summarizes the activities for the Company's stock options during the first quarter of 2016 : Number of Options Weighted- Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 48,208,911 $ 3.60 Granted 4,547,230 $ 8.48 Exercised (3,822,799 ) $ 1.26 Forfeited/Expired (478,682 ) $ 6.97 Outstanding at March 31, 2016 48,454,660 $ 4.21 7.1 $ 221,874 Vested and expected to vest at March 31, 2016 48,091,745 $ 4.20 7.1 $ 220,963 Exercisable at March 31, 2016 26,444,648 $ 2.36 6.2 $ 163,676 (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 $8.30 as reported on the New York Stock Exchange on March 31, 2016 . For the first quarter of 2016 , the Company granted service-based stock options to purchase 4,547,230 shares of common stock with a weighted average exercise price of $8.48 per option share, a weighted average grant date fair value of $4.26 per option share and an aggregate estimated fair value of $19.4 million . Stock options granted during the first quarter of 2016 included 265,987 shares of fully vested stock options granted in lieu of cash bonuses to be paid to certain employees for the 2015 performance period. For the first quarter of 2015 , the Company granted service-based stock options to purchase 768,500 shares of common stock with a weighted average exercise price of $20.81 per option share, a weighted average grant date fair value of $10.27 per option share and an aggregate estimated fair value of $7.9 million . The aggregate intrinsic value of options exercised was $27.9 million and $10.8 million for the first quarters of 2016 and 2015 , respectively. The total fair value of stock options vested for the first quarters of 2016 and 2015 was $10.3 million and $6.1 million , respectively. As of March 31, 2016 , the total unrecognized compensation cost, net of forfeitures, related to outstanding stock options was $85.9 million , which is expected to be recognized over the next 1.3 years. The Company uses the Black-Scholes option pricing model to estimate the fair value of stock options granted with the following assumptions: Three Months Ended 2016 2015 Expected dividend yield — — Weighted-average assumed stock price volatility 51.9 % 49.9 % Weighted-average risk-free interest rate 1.39 % 1.56 % Weighted-average expected life (in years) 6.18 6.25 Restricted Stock Units The following table summarizes the activities for the Company's RSUs during the first quarter of 2016 : Number of RSUs Weighted- Unvested at December 31, 2015 4,443,399 $ 15.23 RSUs granted 9,168,791 $ 8.41 RSUs vested (106,836 ) $ 18.61 RSUs forfeited/expired (404,127 ) $ 10.83 Unvested at March 31, 2016 13,101,227 $ 10.56 Expected to vest after March 31, 2016 12,751,261 $ 10.53 For the first quarter of 2016 , the Company granted 9,168,791 RSUs with an aggregate fair value of $77.1 million . As of March 31, 2016 , there was $126.9 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over the next 3.7 years. Employee Stock Purchase Plan The Company’s 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 March 31, 2016 , a total of 6,916,954 shares of common stock were reserved for issuance under the ESPP. The Company's employees did not purchase any shares of common stock under the ESPP during the first quarter of 2016 , and all 6,916,954 shares remain available for future issuance as of March 31, 2016 . Share Repurchases On February 9, 2016 , the board of directors approved a share repurchase program under which Lending Club may repurchase up to $150.0 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. During the first quarter of 2016 , the Company repurchased 2,282,700 shares of its common stock at a weighted average purchase price of $8.52 per share for an aggregate purchase price of $19.5 million . As of April 30, 2016, the Company has not purchased any additional shares under the share repurchase program. 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 first quarter of 2016 , the Company approved an employer match of up to 4% 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 first quarters of 2016 and 2015 was $1.5 million and $0.6 million , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the first quarters of 2016 and 2015 , the Company recorded income tax expense of $0.2 million and $0.6 million , respectively. Income tax expense for the first quarter of 2016 and 2015 was primarily attributable to the recognition of a full valuation allowance against deferred tax assets as well as the amortization of tax deductible goodwill, which gave rise to an indefinite-lived deferred tax liability. 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 March 31, 2016 and December 31, 2015 , the valuation allowance was $25.3 million .

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
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 first quarters of 2016 and 2015 was $3.2 million and $1.4 million , respectively. Minimum lease payments for the first quarters of 2016 and 2015 were $2.2 million and $1.2 million , respectively. As of March 31, 2016 , 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 March 31, 2016 , were as follows: Minimum Rental Payments 2016 $ 9,702 2017 15,090 2018 16,051 2019 15,619 2020 16,521 Thereafter 57,190 Total $ 130,173 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, at the conclusion of the two business days. As of March 31, 2016 and December 31, 2015 , the Company was committed to purchase loans with an outstanding principal balance of $180.7 million and $77.6 million at par, respectively. Loan Repurchase Obligations The Company has historically limited its loan or note repurchase obligations to events of verified identity theft or in connection with certain customer accommodations. As institutional investors seek to securitize loans purchased through the marketplace, the Company has increased the circumstances and the required burden of proof of economic harm under which the Company is obligated to repurchase loans from these investors. We believe these repurchase obligations are consistent with institutional loan market standards. In addition to and distinct from the repurchase obligations described in the preceding paragraph, the Company performs certain administrative functions for a variety of retail and institutional investors, including executing, without discretion, loan investments as directed by the investor. To the extent loans not meeting the investor's investment criteria at the time of issuance are transferred to the investor as a result of a system error by the Company, the Company is obligated to repurchase such loans at par. As a result of these obligations, we repurchased $3.8 million in loans during the first quarter of 2016. Subsequent to March 31, 2016, the Company in a private transaction repurchased $22.3 million of near-prime loans from a single institutional investor that did not meet a non-credit, non-pricing requirement of the investor, of which $15.1 million were originally sold to the investor prior to March 31, 2016 and that are accounted for as secured borrowings at March 31, 2016. See “ Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Board Review ” and “ Item 4 – Controls and Procedures. ” 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 the first quarter of 2016 , the Company did not purchase any such loans. Additionally, loans in the process of being facilitated and originated by the Company's issuing bank partner at March 31, 2016 , were substantially funded in April 2016 . As of the date of this report, no loans remained without investor commitments and the Company was not required to purchase any of these loans. However, in light of events following a review by a sub-committee of the board of directors that began in the second quarter of 2016, a number of investors that, in the aggregate, have contributed a significant amount of funding on the platform, have paused their investments in loans through the platform. As a result, the Company may need to use its own funds to purchase these loans in the coming months. See “ Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Current Economic and Business Environment ” and “ Item 2 - Management's Discussion and Analysis of Financial Condition and Results of Operations - Liquidity and Capital Resources - Liquidity. ” Separately, if neither Springstone nor the Company can arrange for other investors to invest in or purchase Pool B loans that Springstone facilitates and that are originated by an issuing bank partner, Springstone and the Company are contractually committed to 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 contractual minimum purchase requirements by these three investors had expired. During the first quarter of 2016 , the Company was not required to purchase any Pool B loans or interests in such loans. In connection with re-negotiations of the program agreement with the issuing bank in the first quarter of 2016, the Company deposited $9.0 million 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 Cirrix Capital (Investment Fund). The credit support agreement requires the Company to pledge and restrict cash in support of its contingent obligation to reimburse the Investment Fund for net credit losses on loans underlying the Investment Fund's certificates 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. As of March 31, 2016 , $3.4 million was pledged and restricted to support this contingent obligation. As of March 31, 2016 and December 31, 2015 , the net credit losses pertaining to the Investment Fund's certificates 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 Federal Securities Class Actions. In the first quarter of 2016, four putative class action lawsuits alleging violations of federal securities laws were filed in the California Superior Court in San Mateo County, naming as defendants the Company, its directors, certain officers, and the underwriters in the initial public offering that closed on December 16, 2014 (the IPO). The lawsuits allege violations of the Securities Act of 1933 (Securities Act) by the Company, the individual defendants and the underwriters for allegedly making materially false and misleading statements in the registration statement and prospectus issued in connection with the IPO regarding, among other things, the Company’s business model, compliance with regulatory matters and their impact on the Company’s business, operations and future results. The Company, the selling stockholders and the underwriters have agreed to indemnify each other against certain liabilities, including liabilities under the Securities Act. Plaintiffs seek to represent a class of persons who purchased or otherwise acquired the Company’s securities pursuant or traceable to the IPO registration statement and prospectus. Plaintiffs seek class certification, unspecified compensatory damages, costs and expenses, including attorneys’ fees, and other further relief as the Court may deem just and proper. The Company believes that the plaintiff’s allegations are without merit, and intends to vigorously defend against the claims. Federal Consumer Class Action. In April 2016, a putative class action lawsuit was filed in federal court in New York, alleging that persons received loans, through the Company's platform, that exceeded states' usury limits in violation of state usury and consumer protection laws, and the federal RICO statute. The defendants, in addition to the Company, are WebBank, Steel Partners Holdings, L.P. and the Lending Club Members Trust. The Company has agreed to indemnify WebBank and Steel Partners Holdings, L.P. against certain liabilities in connection with this matter. The plaintiff seeks treble damages, attorneys' fees, and injunctive relief. The Company believes that the plaintiff's allegations are without merit, and intends to defend this matter vigorously. The Company was engaged in an arbitration proceeding with a prior employee who claimed that additional equity was due to him. The Company believed the claim to be without merit. The Company did not accrue a liability for this action as of March 31, 2016. On May 3, 2016, the arbitration panel delivered its final opinion denying all claims of the employee. On February 23, 2016, Phoenix Licensing, L.L.C. and LPL Licensing, L.L.C. filed a complaint for patent infringement against the Company in the U.S. District Court for the Eastern District of Texas. The complaint alleges infringement of U.S. Patent Nos. 8,234,184, 6,999,938, 5,987,434, 8,352,317, and 7,860,744 by generating customized marketing materials, replies, and offers to client responses. The Company believes the plaintiffs allegations are without merit, and intends to defend this matter vigorously. On May 9, 2016, following the announcement of the board review described elsewhere in this filing, the Company received a grand jury subpoena from the U.S. Department of Justice (DOJ). The Company also contacted the SEC. The Company intends to cooperate with the DOJ and the SEC. The DOJ and the SEC may have additional requests, and no assurance can be given as to the timing or outcome of these matters. 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 its financial condition, results of operations or cash flows.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
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	3 Months Ended
	Mar. 31, 2016
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 made deposits and withdrawals to their investor accounts and purchased loans, notes and certificates or have investments in private funds managed by LCA. The Company believes all such transactions by related persons were made in the ordinary course of business and were transacted on terms and conditions that were not more favorable than those obtained by similarly situated third-party investors. At December 31, 2015, Mr. Laplanche, the Company's former CEO and Chairman, and Mr. Mack, a director, owned approximately 2.0% and 10% , respectively, of limited partnership interests in the Investment Fund, a holding company that participates in a family of funds with other unrelated third parties and purchases whole loans and interests in loans from the Company. During the first quarter of 2016, this family of funds purchased $114.5 million of whole loans and interests in whole loans. During the first quarter of 2016, the Company earned $380 thousand in servicing fees and $15 thousand in management fees from this family of funds, and paid interest of $2.0 million to the family of funds. The Company believes that the sales of whole loans and interests in whole loans, and the servicing and management fees charged were on terms and conditions that were not more favorable than those obtained by other third-party investors. In the first quarter of 2016, Mr. Laplanche invested an additional $4.0 million to increase his limited partnership interest in the Investment Fund to approximately 8% . On April 1, 2016, the Company closed its $10.0 million investment, for an ownership interest in the Investment Fund of approximately 15% . As of close of business April 1, 2016, the Company, Mr. Laplanche and Mr. Mack owned approximately 15% , 8% , and 8% of limited partnership interests in the Investment Fund, respectively, for an aggregate interest of approximately 31% .

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to March 31, 2016 , through the date the condensed consolidated financial statements were filed with the SEC. Based on this evaluation, other than as recorded or disclosed within these condensed consolidated financial statements and related notes or as below, the Company has determined none of these events were required to be recognized or disclosed. In May 2016, the board of directors or the compensation committee of the board of directors, as appropriate, approved incentive awards to certain members of the executive management team and other key personnel. The incentive awards consist of an aggregate of $11.0 million of RSUs, $1.0 million in stock options, and $4.9 million of cash. For additional information on the vesting terms and recipients of these awards see “ Part II – Other Information – Item 5 – Other Information. ”

Summary of Significant Accoun26

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Accounting, Policy	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) and a fund of which its wholly-owned subsidiary RV MP Fund GP, LLC, is the general partner. RV MP Fund GP, LLC, is a wholly-owned subsidiary of LCA that acts as the general partner for a private fund. 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 (Certificate) issued by the Trust and that are related to specific underlying loans for the benefit of the investor. Historically, the Company's overall business model has not been premised on using its balance sheet and assuming credit risk for loans facilitated by our marketplace. In order to support contractual obligations (Pool B loans and repurchase obligations), regulatory commitments (direct mail), short-term marketplace equilibrium, customer accommodations, or other needs, the Company may use its capital on the platform from time to time on terms that are substantially similar to other investors. Additionally, the Company may use its capital to invest in loans associated with the testing or initial launch of new or alternative loan terms, programs or channels to establish a track record of performance prior to facilitating third-party investments in these loans. In the five business days since the announcement of the internal board review described below, the Company has been actively exploring ways to restore investor confidence in its platform and obtain additional investment capital for the platform. These efforts may take a number of different structures and terms, including equity or debt transactions, alternative fee arrangements or other inducements including equity. These structures may enable the Company or third-parties to purchase loans through the platform. There is no assurance that the Company may be able to enter into any of these transactions, or if it does, what the final terms will be beneficial to the Company. If the Company's attempts to secure additional investor capital to meet platform origination volume are not successful, it likely may need to use a greater amount of its own capital to purchase loans on its platform compared to prior periods, particularly in light of regulatory commitments to purchase loans solicited by direct mail and other contractual purchase obligations. The Company also may need to reduce its platform’s origination volume. These actions likely may have material adverse impacts on the Company's business, financial condition (including its liquidity), results of operations and ability to sustain and grow loan volume. For additional information, see in “ Item 2 – Management's Discussion and Analysis of Financial Condition and Results of Operations – Board Review. ” The Company believes based on its projections and ability to reduce loan volume if needed, that its cash on hand, funds available from its line of credit, and its cash flow from operations are expected to be sufficient to meet its liquidity needs for the next twelve months. The accompanying unaudited condensed consolidated financial statements include Lending Club, its subsidiaries (collectively referred to as the Company, we, or us) and the Trust. All intercompany balances and transactions have been eliminated. These condensed consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (GAAP) for interim 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. These condensed consolidated financial statements reflect all adjustments that are, in the opinion of management, necessary for a fair presentation of the results for the periods presented. These adjustments are of a normal recurring nature. Actual results may differ from those estimates and results reported in the interim periods are not necessarily indicative of the results for the full year or any other interim period. 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. The accompanying interim condensed consolidated financial statements and these related notes should be read in conjunction with the consolidated financial statements and related notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 (Annual Report). The Company's significant accounting policies are included in “ Note 2 – Summary of Significant Accounting Policies. ”
Revenue Recognition, Policy	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 in facilitating loans for its issuing bank partners. These fees are recognized as a component of operating revenue at the time of loan issuance. Factors affecting the amount of fees paid to the issuing bank by the borrower and from the bank to the Company include initial loan amount, term, credit quality, and other factors. Commencing with the origination fee increase announced in March 2016, in the event a borrower prepays a loan in full before maturity, the Company assumes the issuing bank partner's obligation under Utah law to refund the pro-rated amount of the fee received by the bank in excess of 5% . Additionally, the Company may provide refunds to patient finance borrowers when the borrower cancels the loan under certain conditions. Since Lending Club can estimate refunds based on loan cancellation or prepayment experience, the Company records transaction fee revenue net of estimated refunds at the time of loan issuance.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy	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 or activities by certain investors; (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.
Consolidation, Policy	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 condensed consolidated financial statements. A controlling financial interest exists if the Company has both the power to direct the VIE’s activities that most significantly affect the VIE’s economic performance (power) and the obligation to absorb losses or receive benefits that could be potentially significant to the VIE (economics). LC Trust I The Company has determined that the Trust is a VIE and that the Company has a controlling financial interest in the Trust and therefore must consolidate the Trust in its condensed consolidated financial statements. The Company established the Trust in February 2011 and funded it with a nominal residual investment. The Company is the only residual investor in the Trust. The purpose of the Trust is to acquire and hold loans for the benefit of investors who have invested in certificates issued by the Trust. The Trust conducts no other business other than purchasing and retaining loans or portions thereof for the benefit of the investment funds and their underlying limited partners. The Trust holds loans, none of which are financed by the Company. The cash flows from the loans held by the Trust are used to repay obligations under the certificates. The Trust’s assets and liabilities were reflected in the Company's consolidated financial statements at March 31, 2016 and December 31, 2015. In connection with the formation of the investment funds, it was determined that in order to achieve success in raising investment capital, the assets to be invested in by the investment funds must be held by an entity that was separate and distinct from the Company (i.e. bankruptcy remote) in order to reduce this risk and uncertainty. In the event of the Company's insolvency, it is anticipated that the assets of the Trust would not become part of the bankruptcy estate, but that outcome is uncertain. The Company's capital contributions, which are the only equity investments in the Trust, are insufficient to allow the Trust to finance the purchase of a significant amount of loans without the issuance of certificates to investors. Therefore, the Trust’s capitalization level qualifies the Trust as a VIE. The Company has a financial interest in the Trust because of its right to returns related to servicing fee revenue from the Trust, its right to reimbursement for expenses, and its obligation to repurchase loans from the Trust in certain instances. Additionally, the Company performs or directs activities that significantly affect the Trust’s economic performance through or by (i) operation of the platform that enables borrowers to apply for loans purchased by the Trust; (ii) credit underwriting and servicing of loans purchased by the Trust; (iii) LCA's selection of the loans that are purchased by the Trust on behalf of advised Certificate holders; and (iv) LCA’s role to source investors that ultimately purchase limited partnership interests in a fund or Certificates, both of which supply the funds for the Trust to purchase loans. Collectively, the activities described above allow the Company to fund more loans than would be the case without the existence of the Trust, to collect the related loan transaction fees and for LCA to collect the management fees on the investors’ capital used to purchase certificates. Accordingly, the Company is deemed to have power to direct activities most significant to the Trust and economic interest in the activities because of loan funding and transaction and management fees. Therefore, the Company concluded that it is the primary beneficiary of the Trust and consolidated the Trust’s operations in its condensed consolidated financial statements. Investment In Cirrix Capital On April 1, 2016, the Company closed its $10.0 million investment, for an approximate ownership interest of 15% , in Cirrix Capital (Investment Fund), a holding company to a family of funds that purchases loans and interests in loans from the Company. Per the partnership agreement, the family of funds can invest up to 20% of their assets outside of whole loans and interests in whole loans facilitated by the Company. At March 31, 2016, 100% of the family of funds' assets were comprised of whole loans and interests in loans facilitated by Lending Club's platform. The Company's former Chief Executive Officer (former CEO) and a board member (together, Related Party Investors) also have limited partnership interests in the Investment Fund that resulted in an aggregate ownership of approximately 31% in the Investment Fund at April 1, 2016 by the Related Party Investors and the Company. The Company's investment is deemed to be a variable interest in the Investment Fund because the limited partnership interest shares in the expected returns and losses of the Investment Fund. The expected returns and losses of the Investment Fund result from the net returns of the family of funds owned by the Investment Fund, which are derived from interest income earned from loans and interests in whole loans that are purchased by the Investment Fund and were facilitated by the Company. Additionally, the Investment Fund is considered a VIE. The Company is not the primary beneficiary of the Investment Fund because the Company does not have the power to direct the activities that most significantly affect the Investment Fund’s economic performance. As a result, the Company does not consolidate the operations of the Investment Fund in financial statements of the Company. The Company accounts for this investment under the equity method of accounting, which approximates its maximum exposure to loss as a result of its involvement in the Investment Fund. At March 31, 2016, the Company had subscribed to invest $10.0 million in the Investment Fund, which was recorded in other assets in the condensed consolidated balance sheet. Separately, the Company is subject to a credit support agreement that requires it to pledge and restrict cash in support of its contingent obligation to reimburse the Investment Fund for net credit losses on loans underlying the interests in whole loans that are in excess of a specified, aggregate net loss threshold. The Related Party Investors and the Company are excluded from receiving any benefits, if provided, from this credit support agreement. As of March 31, 2016, the Company has not been required to nor does it anticipate recording losses under this agreement. In conjunction with the Company's determination that the Company has a variable interest in a VIE, the Investment Fund, it is required to disclose the Company's maximum exposure to loss under this credit support agreement, which was $39.0 million and $34.4 million at March 31, 2016 and December 31, 2015, respectively, and assumes all loans covered under this credit support agreement default. The Investment Fund passes along credit risk to the limited partners. The Company did not design the Investment Fund’s investment strategy and cannot require the Investment Fund to purchase loans. Additionally, the Company reviewed whether it collectively, with the Related Party Investors, had power to control the Investment Fund and concluded that it did not based on the unilateral ability of the general partner to exercise power over the limited partnership and the inability of the limited partners to remove the general partner. See “ Note 18 – Related Party Transactions ” for additional information. LCA Managed or Advised Private Funds In conjunction with the adoption of a new accounting standard that amends accounting for consolidations effective January 1, 2016, the Company reviewed its relationship with the private funds managed or advised by LCA and concluded that it does not have a variable interest in the private funds. As of March 31, 2016, the Company does not hold any investments in the private funds. Certain of the Company's related parties have investments in the private funds, as discussed in “ Note 18 – Related Party Transactions. ” The Company charges the limited partners in the private funds a management fee based on their account balance at month end for services performed as the general manager, including fund administration, and audit, accounting and tax preparation services. Accordingly, the Company's fee arrangements contain only terms, conditions, or amounts that are customarily present in arrangements for similar services negotiated at arm’s length. These fees are solely compensation for services provided and are commensurate with the level of effort required to provide those services. The Company does not have any other interests in the private funds and therefore does not have a variable interest in the private funds. Management regularly reviews and reconsiders its previous conclusions regarding whether it holds a variable interest in potential VIEs, the status of an entity as a VIE, and whether the Company is required to consolidate such VIEs in the condensed consolidated financial statements. Servicing Rights As a result of the nature of servicing rights on the sale of loans, the Company is a variable interest holder in certain entities that purchase these loans. For all of these entities the Company either does not have the power to direct the activities that most significantly affect the VIE's economic performance or it does not have a potentially significant economic interest in the VIE. In no case is the Company the primary beneficiary and as a result none of these entities are consolidated on the Company's condensed consolidated financial statements.
Debt, Policy	Debt The Company has elected to record certain costs directly related to issuing its secured revolving credit facility as an asset included in other assets on the Company’s condensed consolidated balance sheets. These costs are amortized as interest expense over the contractual term of the secured revolving credit facility. On a limited basis, the Company may transfer loans to investors that do not meet sale criteria for accounting purposes. These loans are recorded as secured borrowings on the condensed consolidated balance sheets.
Impact of New Accounting Standards	Adoption of New Accounting Standard In February 2015, the Financial Accounting Standards Board (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 adoption of this guidance did not have an impact on the Company's financial position, results of operations, earnings per share (EPS) or cash flows. The adoption of this guidance is further discussed above in “ Consolidation of Variable Interest Entities. ” New Accounting Standards Not Yet Adopted In March 2016, the FASB amended guidance related to the accounting for share-based payments, which will be effective January 1, 2017. The guidance simplifies the accounting for share-based payments related to the income tax consequences of share-based awards, the classification of awards in a company's financial statements, and estimating forfeitures of awards. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In May 2014, the FASB issued new guidance on revenue recognition, which will be effective January 1, 2018. 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. In March 2016, the Board issued an amendment to the new revenue recognition guidance clarifying how to determine if an entity is a principal or agent in a transaction. The effective date and transition requirements for this amendment is the same as those for the new revenue guidance. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In February 2016, the FASB amended guidance related to the lease accounting, which will be effective January 1, 2019. The guidance requires an entity to recognize a right-of-use asset and lease liability for most lease arrangements. The standard also requires additional disclosures related to lease arrangements. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS, and cash flows. In January 2016, the FASB amended guidance related to recognition and measurement of financial instruments, which will be effective January 1, 2018. The amendment changes the accounting for equity investments, change disclosure requirements related to instruments at amortized cost and fair value, and clarifies 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, EPS, and 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. There have been no other changes to these significant accounting policies during the first quarter of 2016.

Net Income (Loss) Per Share a27

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders (Tables)	3 Months Ended
	Mar. 31, 2016
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: Three Months Ended 2016 2015 Net income (loss) (1) $ 4,137 $ (6,374 ) Weighted average common shares - Basic (2) 380,266,636 371,959,312 Weighted average common shares - Diluted (2) 392,397,825 371,959,312 Net income (loss) per share attributable to common stockholders: Basic $ 0.01 $ (0.02 ) Diluted $ 0.01 $ (0.02 ) (1) Also represents net income (loss) available to common stockholders. 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. There were no dividends declared in the first quarters of 2016 or 2015 . The Company had no participating securities as of March 31, 2016 or March 31, 2015 . (2) Net of 2,282,700 shares repurchased in the first quarter of 2016 under the Company's share repurchase program. See “ Note 14 – Employee Incentive and Retirement Plans – Share Repurchases ” for additional information.

Securities Available for Sale (

Securities Available for Sale (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015 , were as follows: March 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 209,955 $ 93 $ (877 ) $ 209,171 Asset-backed securities 48,116 5 (42 ) 48,079 U.S. agency securities 16,602 2 (21 ) 16,583 U.S. Treasury securities 3,490 26 — 3,516 Other securities 7,005 — (54 ) 6,951 Total securities available for sale $ 285,168 $ 126 $ (994 ) $ 284,300 December 31, 2015 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 March 31, 2016 and December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total March 31, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 166,436 $ (877 ) $ — $ — $ 166,436 $ (877 ) Asset-backed securities 35,235 (42 ) — — 35,235 (42 ) U.S. agency securities 14,582 (21 ) — — 14,582 (21 ) Other securities 6,950 (54 ) — — 6,950 (54 ) Total securities with unrealized losses (1) $ 223,203 $ (994 ) $ — $ — $ 223,203 $ (994 ) Less than 12 months Total December 31, 2015 Fair Unrealized Fair Unrealized Fair Unrealized 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 at March 31, 2016 and December 31, 2015 totaled 109 and 141 , respectively.
Available-for-sale Securities by Contractual Maturity	The contractual maturities of securities available for sale at March 31, 2016 , 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 $ 48,374 $ 160,797 $ — $ — $ 209,171 Asset-backed securities 1,221 46,858 — — 48,079 U.S. agency securities — 16,583 — — 16,583 U.S. Treasury securities 1,000 2,516 — — 3,516 Other securities 1,999 4,952 — — 6,951 Total fair value $ 52,594 $ 231,706 $ — $ — $ 284,300 Total amortized cost $ 52,648 $ 232,520 $ — $ — $ 285,168

Loans, Notes and Certificates29

Loans, Notes and Certificates, and Loan Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Loans and Notes and Certificates	At March 31, 2016 and December 31, 2015 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates March 31, December 31, March 31, December 31, Aggregate principal balance outstanding $ 4,932,346 $ 4,681,671 $ 4,929,468 $ 4,697,169 Net fair value adjustments (216,190 ) (125,590 ) (216,019 ) (125,586 ) Fair value $ 4,716,156 $ 4,556,081 $ 4,713,449 $ 4,571,583 Original term 12 - 60 months 12 - 60 months Interest rates (fixed) 4.99% - 31.89 % 4.99% - 29.90% Maturity dates ≤ March 2021 ≤ December 2020
Past Due Financing Receivables	At March 31, 2016 and December 31, 2015 , loans that were 90 days or more past due (including non-accrual loans) were as follows: March 31, 2016 December 31, 2015 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 28,398 $ 2,904 $ 30,094 $ 4,513 Net fair value adjustments (23,622 ) (2,398 ) (25,312 ) (3,722 ) Fair value $ 4,776 $ 506 $ 4,782 $ 791 # of loans (not in thousands) 2,440 282 2,606 382

Fair Value of Assets and Liab30

Fair Value of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Loans, Loan Servicing Rights, Related Notes and Certificates	The following tables present the fair value hierarchy for assets and liabilities measured at fair value: March 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,716,156 $ 4,716,156 Securities available for sale: Corporate debt securities — 209,171 — 209,171 Asset-backed securities — 48,079 — 48,079 U.S. agency securities — 16,583 — 16,583 U.S. Treasury securities — 3,516 — 3,516 Other securities — 6,951 — 6,951 Total securities available for sale — 284,300 — 284,300 Servicing assets — — 16,964 16,964 Total assets $ — $ 284,300 $ 4,733,120 $ 5,017,420 Liabilities: Notes and certificates $ — $ — $ 4,713,449 $ 4,713,449 Servicing liabilities — — 2,827 2,827 Total liabilities $ — $ — $ 4,716,276 $ 4,716,276 December 31, 2015 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at 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
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 March 31, 2016 and December 31, 2015 : March 31, 2016 Range of Inputs Financial Instrument Unobservable Input Minimum Maximum Weighted- Average Loans, notes and certificates Discount rates 3.0 % 22.7 % 8.1 % Net cumulative expected loss rates (1) 0.3 % 27.5 % 11.6 % Cumulative prepayment rates (1) 8.0 % 44.3 % 32.6 % Servicing asset/liability Discount rates 3.5 % 21.6 % 9.0 % Net cumulative expected loss rates (1) 0.3 % 27.5 % 9.7 % Cumulative prepayment rates (1) 8.0 % 44.3 % 36.6 % Total market servicing rates (% per annum on unpaid principal balance) (2) 0.57 % 0.90 % 0.57 % 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) (3) 0.50 % 0.75 % 0.50 % (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Includes ancillary fees estimated to be paid to a hypothetical third-party servicer. (3) Excludes ancillary fees that would be passed on to a hypothetical third-party servicer. As of December 31, 2015, the market rate for ancillary fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points.
Fair Value Disclosure And Measurement	The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different market servicing rate assumptions as of March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions (1) 0.57 % 0.57 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase by 0.10% $ (4,852 ) $ 1,235 $ (3,504 ) $ 1,589 Servicing rate decrease by 0.10% $ 4,960 $ (1,127 ) $ 3,610 $ (1,483 ) (1) Represents total market servicing rates, which include ancillary fees, at March 31, 2016 , and base market servicing rates, which exclude ancillary fees, at December 31, 2015 . As of December 31, 2015, the market rate for ancillary fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points.
Fair Value, by Balance Sheet Grouping	The following tables present the fair value hierarchy for financial instruments not recorded at fair value: March 31, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 583,842 $ — $ 583,842 $ — $ 583,842 Restricted cash 104,485 — 104,485 — 104,485 Deposits 872 — 872 — 872 Total assets $ 689,199 $ — $ 689,199 $ — $ 689,199 Liabilities: Accrued expenses and other liabilities $ 1,699 $ — $ — $ 1,699 $ 1,699 Accounts payable $ 5,860 $ — $ 5,860 $ — $ 5,860 Payables to investors 71,917 — 71,917 — 71,917 Total liabilities $ 79,476 $ — $ 77,777 $ 1,699 $ 79,476 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
Loans, Notes and Certificates
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Table	The following tables present additional information about Level 3 loans, notes and certificates measured at fair value on a recurring basis for the first quarters of 2016 and 2015 : Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2015 $ 4,681,671 $ (125,590 ) $ 4,556,081 $ 4,697,169 $ (125,586 ) $ 4,571,583 Purchases of loans 2,230,288 — 2,230,288 — — — Issuances of notes and certificates — — — 901,258 — 901,258 Whole loan sales (1,308,463 ) — (1,308,463 ) — — — Principal payments (586,159 ) — (586,159 ) (583,982 ) — (583,982 ) Charge-offs (84,991 ) 84,991 — (84,977 ) 84,977 — Recoveries — (10,191 ) (10,191 ) — (10,177 ) (10,177 ) Change in fair value recorded in earnings — (165,400 ) (165,400 ) — (165,233 ) (165,233 ) Ending balance at March 31, 2016 $ 4,932,346 $ (216,190 ) $ 4,716,156 $ 4,929,468 $ (216,019 ) $ 4,713,449 Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2014 $ 2,836,729 $ (38,224 ) $ 2,798,505 $ 2,851,837 $ (38,219 ) $ 2,813,618 Purchases of loans 1,474,972 — 1,474,972 — — — Issuances of notes and certificates — — — 852,715 — 852,715 Whole loan sales (622,145 ) — (622,145 ) — — — Principal payments (369,379 ) — (369,379 ) (365,711 ) — (365,711 ) Charge-offs (43,821 ) 43,821 — (43,807 ) 43,807 — Recoveries — (3,472 ) (3,472 ) — (3,461 ) (3,461 ) Change in fair value recorded in earnings — (47,820 ) (47,820 ) — (47,815 ) (47,815 ) Ending balance at March 31, 2015 $ 3,276,356 $ (45,695 ) $ 3,230,661 $ 3,295,034 $ (45,688 ) $ 3,249,346
Servicing asset/liability
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Table	The following table presents additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the first quarters of 2016 and 2015 : Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 10,250 $ (3,973 ) $ 2,181 $ (3,973 ) Issuances (1) 5,631 (932 ) 1,508 (1,412 ) Changes in fair value, included in servicing fees 232 2,078 (491 ) 988 Additions, included in deferred revenue 851 — 298 — Fair value at end of period $ 16,964 $ (2,827 ) $ 3,496 $ (4,397 ) (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue.

Property, Equipment and Softw31

Property, Equipment and Software, Net (Tables)	3 Months Ended
	Mar. 31, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment and Software	Property, equipment and software, net, consist of the following: March 31, December 31, Internally developed software $ 50,413 $ 40,709 Computer equipment 14,724 14,076 Leasehold improvements 13,540 11,559 Purchased software 6,311 5,336 Furniture and fixtures 5,413 5,086 Construction in progress 2,866 2,870 Total property, equipment and software 93,267 79,636 Accumulated depreciation and amortization (29,073 ) (23,706 ) Total property, equipment and software, net $ 64,194 $ 55,930

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: March 31, December 31, Loan servicing assets, at fair value $ 16,964 $ 10,250 Prepaid expenses 13,825 16,283 Other investments 10,250 250 Accounts receivable 5,745 4,976 Receivable from investors 1,706 1,117 Deferred financing cost 1,229 1,296 Deferred acquisition compensation 1,228 1,521 Due from related parties (1) 897 655 Deposits 872 871 Tenant improvement receivable 778 778 Other 366 416 Total other assets $ 53,860 $ 38,413 (1) Represents management fees due to LCA from certain private funds for which LCA acts as the general partner.

Accrued Expenses and Other Li33

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: March 31, December 31, Accrued expenses $ 19,486 $ 14,054 Accrued compensation 10,387 28,780 Deferred rent 5,473 4,615 Deferred tax liability 3,623 3,446 Deferred revenue 3,402 2,551 Loan servicing liabilities, at fair value 2,827 3,973 Payable to issuing bank 1,820 955 Transaction fee refund reserve 1,292 578 Early stock option exercise and other equity-related liabilities 71 83 Contingent liabilities 39 700 Other 1,668 1,508 Total accrued expenses and other liabilities $ 50,088 $ 61,243

Accumulated Other Comprehensi34

Accumulated Other Comprehensive Loss (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Comprehensive Income (Loss)	The components of other comprehensive income were as follows: Three Months Ended March 31, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized loss on securities available for sale $ 803 $ — $ 803 $ — $ — $ — Other comprehensive income $ 803 $ — $ 803 $ — $ — $ —
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive loss balances were as follows: Total Accumulated Other Comprehensive Loss Balance at December 31, 2015 $ (1,671 ) Change in net unrealized loss on securities available for sale 803 Balance at March 31, 2016 $ (868 )

Employee Incentive and Retire35

Employee Incentive and Retirement Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Postemployment Benefits [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan	Stock-based compensation expense was as follows for the periods presented: Three Months Ended 2016 2015 Stock options $ 7,657 $ 7,086 RSUs 5,126 481 ESPP 388 479 Stock issued related to acquisition 1,850 3,547 Total stock-based compensation expense $ 15,021 $ 11,593
Schedule of Stock-Based Compensation Expense Recorded for Stock Options, Warrants and Series F Convertible Preferred Stock	The following table presents the Company's stock-based compensation expense recorded in the condensed consolidated statements of operations: Three Months Ended 2016 2015 (1) Sales and marketing $ 1,904 $ 1,508 Origination and servicing 746 606 Engineering and product development 3,723 1,798 Other general and administrative 8,648 7,681 Total stock-based compensation expense $ 15,021 $ 11,593 (1) Prior period amounts have been reclassified to conform to the current period presentation. See “ Note 1 – Basis of Presentation ” for additional information.
Options Activity Under Option Plan	The following table summarizes the activities for the Company's stock options during the first quarter of 2016 : Number of Options Weighted- Weighted-Average Remaining Contractual Life (in years) Aggregate Intrinsic Value (1) Outstanding at December 31, 2015 48,208,911 $ 3.60 Granted 4,547,230 $ 8.48 Exercised (3,822,799 ) $ 1.26 Forfeited/Expired (478,682 ) $ 6.97 Outstanding at March 31, 2016 48,454,660 $ 4.21 7.1 $ 221,874 Vested and expected to vest at March 31, 2016 48,091,745 $ 4.20 7.1 $ 220,963 Exercisable at March 31, 2016 26,444,648 $ 2.36 6.2 $ 163,676 (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 $8.30 as reported on the New York Stock Exchange on March 31, 2016 .
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: Three Months Ended 2016 2015 Expected dividend yield — — Weighted-average assumed stock price volatility 51.9 % 49.9 % Weighted-average risk-free interest rate 1.39 % 1.56 % Weighted-average expected life (in years) 6.18 6.25
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 first quarter of 2016 : Number of RSUs Weighted- Unvested at December 31, 2015 4,443,399 $ 15.23 RSUs granted 9,168,791 $ 8.41 RSUs vested (106,836 ) $ 18.61 RSUs forfeited/expired (404,127 ) $ 10.83 Unvested at March 31, 2016 13,101,227 $ 10.56 Expected to vest after March 31, 2016 12,751,261 $ 10.53

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases	The Company's future minimum payments under non-cancelable operating leases in excess of one year as of March 31, 2016 , were as follows: Minimum Rental Payments 2016 $ 9,702 2017 15,090 2018 16,051 2019 15,619 2020 16,521 Thereafter 57,190 Total $ 130,173

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Apr. 01, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold for refund	5.00%
Maximum exposure	$ 39		$ 34.4
Related Party Fund
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity method investment	$ 10
Subsequent Event | Related Party Fund
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity method investment		$ 10
Ownership		15.00%
Subsequent Event | Related Party Fund | The Company, CEO, and Director
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership		31.00%
Investments Other Than Loans | Maximum
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowed investment in outside loans	20.00%
Loans and Finance Receivables
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Asset allocation	100.00%

Net Income (Loss) Per Share a38

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders - Basic and Diluted Net Income (Loss) per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income (loss)	$ 4,137	$ (6,374)
Basic weighted average common shares outstanding (shares)	380,266,636	371,959,312
Diluted weighted average common shares outstanding (shares)	392,397,825	371,959,312
Net income (loss) per common share:
Basic ($ per share)	$ 0.01	$ (0.02)
Diluted ($ per share)	$ 0.01	$ (0.02)
Repurchased (shares)	2,282,700

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 285,168	$ 298,882
Gross Unrealized Gains	126	3
Gross Unrealized Losses	(994)	(1,674)
Securities available for sale:	284,300	297,211
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	209,955	217,243
Gross Unrealized Gains	93	2
Gross Unrealized Losses	(877)	(1,494)
Securities available for sale:	209,171	215,751
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	48,116	54,543
Gross Unrealized Gains	5	0
Gross Unrealized Losses	(42)	(134)
Securities available for sale:	48,079	54,409
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,602	16,602
Gross Unrealized Gains	2	1
Gross Unrealized Losses	(21)	(25)
Securities available for sale:	16,583	16,578
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	3,490	3,489
Gross Unrealized Gains	26	0
Gross Unrealized Losses	0	(4)
Securities available for sale:	3,516	3,485
Other securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,005	7,005
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(54)	(17)
Securities available for sale:	$ 6,951	$ 6,988

Securities Available for Sale40

Securities Available for Sale - Continuous loss (Details) $ in Thousands	Mar. 31, 2016USD ($)position	Dec. 31, 2015USD ($)position
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 223,203	$ 291,478
Unrealized Losses, Less than 12 months	(994)	(1,674)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	223,203	291,478
Unrealized Losses	$ (994)	$ (1,674)
Number of positions with unrealized losses | position	109	141
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 166,436	$ 212,018
Unrealized Losses, Less than 12 months	(877)	(1,494)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	166,436	212,018
Unrealized Losses	(877)	(1,494)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	35,235	54,409
Unrealized Losses, Less than 12 months	(42)	(134)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	35,235	54,409
Unrealized Losses	(42)	(134)
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	14,582	14,578
Unrealized Losses, Less than 12 months	(21)	(25)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	14,582	14,578
Unrealized Losses	(21)	(25)
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months		3,485
Unrealized Losses, Less than 12 months		(4)
Fair Value, 12 months or longer		0
Unrealized Losses, 12 months or longer		0
Fair Value		3,485
Unrealized Losses		(4)
Other securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	6,950	6,988
Unrealized Losses, Less than 12 months	(54)	(17)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	6,950	6,988
Unrealized Losses	$ (54)	$ (17)

Securities Available for Sale41

Securities Available for Sale - Maturities (Details) $ in Thousands	Mar. 31, 2016USD ($)
Fair value
Within 1 year	$ 52,594
After 1 year through 5 years	231,706
After 5 years through 10 years	0
After 10 years	0
Total	284,300
Amortized cost
Within 1 year	52,648
After 1 year through 5 years	232,520
After 5 years through 10 years	0
After 10 years	0
Total	285,168
Corporate debt securities
Fair value
Within 1 year	48,374
After 1 year through 5 years	160,797
After 5 years through 10 years	0
After 10 years	0
Total	209,171
Asset-backed securities
Fair value
Within 1 year	1,221
After 1 year through 5 years	46,858
After 5 years through 10 years	0
After 10 years	0
Total	48,079
U.S. agency securities
Fair value
Within 1 year	0
After 1 year through 5 years	16,583
After 5 years through 10 years	0
After 10 years	0
Total	16,583
U.S. Treasury securities
Fair value
Within 1 year	1,000
After 1 year through 5 years	2,516
After 5 years through 10 years	0
After 10 years	0
Total	3,516
Other securities
Fair value
Within 1 year	1,999
After 1 year through 5 years	4,952
After 5 years through 10 years	0
After 10 years	0
Total	$ 6,951

Loans, Notes and Certificates42

Loans, Notes and Certificates, and Loan Servicing Rights (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair Value	$ 4,716,156	$ 4,556,081
Fair Value	$ 4,713,449	$ 4,571,583
Interest rate, minimum	4.99%	4.99%
Interest rate, maximum	31.89%	29.90%
Maturity dates	2021-03	2020-12
Fair Value, Measurements, Recurring | Loans at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	$ 4,932,346	$ 4,681,671
Fair value adjustments	(216,190)	(125,590)
Fair Value	4,716,156	4,556,081
Fair Value, Measurements, Recurring | Notes And Certificates At Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	4,929,468	4,697,169
Fair value adjustments	(216,019)	(125,586)
Fair Value	$ 4,713,449	$ 4,571,583
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and certificates term	12 months	12 months
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and certificates term	60 months	60 months

Loans, Notes and Certificates43

Loans, Notes and Certificates, and Loan Servicing Rights - Past Due Table (Details) - Loans at Fair Value $ in Thousands	Mar. 31, 2016USD ($)Loan	Dec. 31, 2015USD ($)Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance, past 90 days due	$ 28,398	$ 30,094
Outstanding principal balance, non-accrual loans	2,904	4,513
Net fair value adjustments, past 90 days due	(23,622)	(25,312)
Net fair value adjustments, non-accrual loans	(2,398)	(3,722)
Fair value, past 90 days due	4,776	4,782
Fair value, non-accrual loans	$ 506	$ 791
Number of loans, 90 days past due | Loan	2,440	2,606
Number of loans, non-accrual loans | Loan	282	382

Loans, Notes and Certificates44

Loans, Notes and Certificates, and Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans funded by the company	$ 23,800
Secured borrowings	$ 15,113	$ 0
Debt instrument, interest rate, effective percentage rate range, minimum	4.99%	4.99%
Debt instrument, interest rate, effective percentage rate range, maximum	31.89%	29.90%
Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	12 months	12 months
Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	60 months	60 months
Loan Servicing Rights
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Payment frequency for the debt instrument	monthly	monthly
Debt instrument, interest rate, effective percentage rate range, minimum	2.99%	2.99%
Debt instrument, interest rate, effective percentage rate range, maximum	33.15%	33.15%
Debt instrument, maturity date, description	March 2,023	December 2,022
Principal balance of underlying loan servicing rights	$ 5,270,000	$ 4,290,000
Loan Servicing Rights | Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	12 months	3 months
Loan Servicing Rights | Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	84 months	84 months

Fair Value of Assets and Liab45

Fair Value of Assets and Liabilities - Loans, Loan Servicing Rights, Related Notes and Certificates (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	$ 4,716,156	$ 4,556,081
Securities available for sale:	284,300	297,211
Servicing assets	16,964	10,250
Total assets	5,017,420	4,863,542
Notes and certificates	4,713,449	4,571,583
Servicing liabilities	2,827	3,973
Total liabilities	4,716,276	4,575,556
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	209,171	215,751
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	48,079	54,409
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	16,583	16,578
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	3,516	3,485
Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	6,951	6,988
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Securities available for sale:	0	0
Servicing assets	0	0
Total assets	0	0
Notes and certificates	0	0
Servicing liabilities	0	0
Total liabilities	0	0
Level 1 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	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:	284,300	297,211
Servicing assets	0	0
Total assets	284,300	297,211
Notes and certificates	0	0
Servicing liabilities	0	0
Total liabilities	0	0
Level 2 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	209,171	215,751
Level 2 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	48,079	54,409
Level 2 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	16,583	16,578
Level 2 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	3,516	3,485
Level 2 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	6,951	6,988
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	4,716,156	4,556,081
Securities available for sale:	0	0
Servicing assets	16,964	10,250
Total assets	4,733,120	4,566,331
Notes and certificates	4,713,449	4,571,583
Servicing liabilities	2,827	3,973
Total liabilities	4,716,276	4,575,556
Level 3 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	$ 0	$ 0

Fair Value of Assets and Liab46

Fair Value of Assets and Liabilities - Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements (Detail)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value Inputs [Abstract]
Base market servicing rates (% per annum on unpaid principal balance)		0.50%
Total market servicing rate	0.57%
Level 3 Inputs | Minimum | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	3.00%	2.90%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	23.40%
Level 3 Inputs | Minimum | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	3.50%	3.50%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	8.00%
Base market servicing rates (% per annum on unpaid principal balance)		0.50%
Total market servicing rate	0.57%
Level 3 Inputs | Maximum | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	22.70%	17.50%
Net cumulative expected loss rates	27.50%	22.00%
Cumulative prepayment rates	44.30%	36.40%
Level 3 Inputs | Maximum | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	21.60%	16.30%
Net cumulative expected loss rates	27.50%	22.00%
Cumulative prepayment rates	44.30%	36.40%
Base market servicing rates (% per annum on unpaid principal balance)		0.75%
Total market servicing rate	0.90%
Level 3 Inputs | Weighted- Average | Loans, notes and certificates
Fair Value Inputs [Abstract]
Discount rates	8.10%	9.00%
Net cumulative expected loss rates	11.60%	9.90%
Cumulative prepayment rates	32.60%	30.80%
Level 3 Inputs | Weighted- Average | Servicing asset/liability
Fair Value Inputs [Abstract]
Discount rates	9.00%	9.40%
Net cumulative expected loss rates	9.70%	8.80%
Cumulative prepayment rates	36.60%	30.50%
Base market servicing rates (% per annum on unpaid principal balance)		0.50%
Total market servicing rate	0.57%	0.57%
Ancillary fee		0.07%

Fair Value of Assets and Liab47

Fair Value of Assets and Liabilities - Additional Information about Loans, Notes and Certificates Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Loans
Outstanding Principal Balance, Beginning	$ 4,681,671	$ 2,836,729
Valuation Adjustment, Beginning	(125,590)	(38,224)
Fair Value, Beginning	4,556,081	2,798,505
Outstanding Principal Balance, Purchases of loans	2,230,288	1,474,972
Valuation Adjustment, Purchases of loans	0	0
Fair Value, Purchases of loans	2,230,288	1,474,972
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	(1,308,463)	(622,145)
Valuation Adjustment, Whole loan sales	0	0
Fair Value, Whole loan sales	(1,308,463)	(622,145)
Outstanding Principal Balance, Principal payments	(586,159)	(369,379)
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(586,159)	(369,379)
Outstanding Principal Balance, Charge-offs	(84,991)	(43,821)
Valuation Adjustment, Charge-offs	84,991	43,821
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	(10,191)	(3,472)
Fair Value, Recoveries	(10,191)	(3,472)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(165,400)	(47,820)
Fair Value, Change in fair value recorded in earnings	(165,400)	(47,820)
Outstanding Principal Balance, Ending	4,932,346	3,276,356
Valuation Adjustment, Ending	(216,190)	(45,695)
Fair Value, Ending	4,716,156	3,230,661
Notes and Certificates
Outstanding Principal Balance, Beginning	4,697,169	2,851,837
Valuation Adjustment, Beginning	(125,586)	(38,219)
Fair Value, Beginning	4,571,583	2,813,618
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	901,258	852,715
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	901,258	852,715
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	(583,982)	(365,711)
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(583,982)	(365,711)
Outstanding Principal Balance, Charge-offs	(84,977)	(43,807)
Valuation Adjustment, Charge-offs	84,977	43,807
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	(10,177)	(3,461)
Fair Value, Recoveries	(10,177)	(3,461)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(165,233)	(47,815)
Fair Value, Change in fair value recorded in earnings	(165,233)	(47,815)
Outstanding Principal Balance, Ending	4,929,468	3,295,034
Valuation Adjustment, Ending	(216,019)	(45,688)
Fair Value, Ending	$ 4,713,449	$ 3,249,346

Fair Value of Assets and Liab48

Fair Value of Assets and Liabilities - Additional Information about Servicing Assets and Liabilities Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	$ 10,250
Fair value at end of period	16,964		$ 10,250
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	(3,973)
Fair value at end of period	(2,827)		(3,973)
Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	10,250	$ 2,181	2,181
Additions, included in other/deferred revenue	5,631	1,508
Changes in fair value, included in servicing fees	232	(491)
Fair value at end of period	16,964	3,496	10,250
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	(3,973)	(3,973)	(3,973)
Additions, included in other/deferred revenue	(932)	(1,412)
Changes in fair value, included in servicing fees	2,078	988
Fair value at end of period	(2,827)	(4,397)	$ (3,973)
Deferred Revenue | Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Additions, included in other/deferred revenue	851	298
Servicing Liabilities, Changes in fair value due to:
Additions, included in other/deferred revenue	$ 0	$ 0

Fair Value of Assets and Liab49

Fair Value of Assets and Liabilities - Additional Information about Servicing Assets and Liabilities Measured Using Different Market Servicing Rates and Different Prepayment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average total market servicing rate assumptions	0.57%
Weighted-average base market servicing rate assumptions			0.50%
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average total market servicing rate assumptions	0.57%
Weighted-average base market servicing rate assumptions			0.50%
Changes in fair value, included in servicing fees	$ 232	$ (491)
Changes in fair value, included in servicing fees	(2,078)	$ (988)
Servicing rate increase by 0.10%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value, included in servicing fees	$ (4,852)		$ (3,504)
Change in servicing rates	0.10%
Servicing rate increase by 0.10% | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value, included in servicing fees	$ 1,235		1,589
Servicing rate decrease by 0.10%
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value, included in servicing fees	$ 4,960		3,610
Change in servicing rates	(0.10%)
Servicing rate decrease by 0.10% | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Changes in fair value, included in servicing fees	$ (1,127)		$ (1,483)
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market servicing rates	0.57%		0.50%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Market servicing rates	0.90%		0.75%

Fair Value of Assets and Liab50

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 5,017,420	$ 4,863,542
Total liabilities	4,716,276	4,575,556
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	284,300	297,211
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,733,120	4,566,331
Total liabilities	4,716,276	4,575,556
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	583,842	623,531
Restricted cash	104,485	80,733
Deposits	872	871
Total assets	689,199	705,135
Accrued expenses and other liabilities	1,699
Accounts payable	5,860	5,542
Payables to investors	71,917	73,162
Total liabilities	79,476	78,704
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
Accrued expenses and other liabilities	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	583,842	623,531
Restricted cash	104,485	80,733
Deposits	872	871
Total assets	689,199	705,135
Accrued expenses and other liabilities	0
Accounts payable	5,860	5,542
Payables to investors	71,917	73,162
Total liabilities	77,777	78,704
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
Accrued expenses and other liabilities	1,699
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	1,699	0
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	583,842	623,531
Restricted cash	104,485	80,733
Deposits	872	871
Total assets	689,199	705,135
Accrued expenses and other liabilities	1,699
Accounts payable	5,860	5,542
Payables to investors	71,917	73,162
Total liabilities	$ 79,476	$ 78,704

Property, Equipment and Softw51

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Internally developed software	$ 50,413	$ 40,709
Computer equipment	14,724	14,076
Leasehold improvements	13,540	11,559
Purchased software	6,311	5,336
Furniture and fixtures	5,413	5,086
Construction in progress	2,866	2,870
Total property, equipment and software	93,267	79,636
Accumulated depreciation and amortization	(29,073)	(23,706)
Total property, equipment and software, net	$ 64,194	$ 55,930

Property, Equipment and Softw52

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 6,655	$ 4,693
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 5,400	$ 3,100

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Other Assets [Abstract]
Other assets	$ 53,860	$ 38,413
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets	16,964	10,250
Prepaid expenses
Other Assets [Abstract]
Other assets	13,825	16,283
Other investments
Other Assets [Abstract]
Other assets	10,250	250
Accounts receivable
Other Assets [Abstract]
Other assets	5,745	4,976
Receivable from investors
Other Assets [Abstract]
Other assets	1,706	1,117
Deferred financing cost
Other Assets [Abstract]
Other assets	1,229	1,296
Deferred Acquisition Compensation
Other Assets [Abstract]
Other assets	1,228	1,521
Due From Related Parties
Other Assets [Abstract]
Other assets	897	655
Deposits
Other Assets [Abstract]
Other assets	872	871
Tenant improvement receivable
Other Assets [Abstract]
Other assets	778	778
Other
Other Assets [Abstract]
Other assets	$ 366	$ 416

Intangible Assets and Goodwill

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	$ 29,715		$ 30,971
Amortization expense	1,300	$ 1,500
Goodwill	$ 72,683		$ 72,683

Accrued Expenses and Other Li55

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued expenses	$ 19,486	$ 14,054
Accrued compensation	10,387	28,780
Deferred rent	5,473	4,615
Deferred tax liability	3,623	3,446
Deferred revenue	3,402	2,551
Loan servicing liabilities, at fair value	2,827	3,973
Payable To Issuing Bank	1,820	955
Transaction fee refund reserve	1,292	578
Early stock option exercise and other equity-related liabilities	71	83
Contingent liabilities	39	700
Other	1,668	1,508
Total accrued expenses and other liabilities	$ 50,088	$ 61,243

Accumulated Other Comprehensi56

Accumulated Other Comprehensive Loss - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Equity [Abstract]
Change in net unrealized loss on securities available for sale	$ 803	$ 0
Tax Effect, Change in net unrealized loss on securities available for sale	0	0
Net of Tax, Change in net unrealized loss on securities available for sale	803	0
Other comprehensive loss, before tax	803	0
Income tax effect	0	0
Other comprehensive income, net of tax	$ 803	$ 0

Accumulated Other Comprehensi57

Accumulated Other Comprehensive Loss - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Accumulated Other Comprehensive Income (Loss), Net of Tax [Roll Forward]
Balance at December 31, 2015	$ (1,671)
Change in net unrealized loss on securities available for sale	803	$ 0
Balance at March 31, 2016	$ (868)

Secured Borrowings (Details)

Secured Borrowings (Details) - USD ($) $ in Thousands	2 Months Ended	3 Months Ended
	May. 16, 2016	Mar. 31, 2016	Jun. 30, 2016	Dec. 31, 2015
Secured Borrowings
Near-prime loans repurchased		$ 3,800
Secured borrowings		$ 15,113		$ 0
Subsequent Event
Secured Borrowings
Near-prime loans repurchased	$ 22,300
Subsequent Event | Scenario, Forecast
Secured Borrowings
Secured borrowings			$ 0

Debt (Details)

Debt (Details) - Revolving Credit Facility	Dec. 17, 2015USD ($)	Mar. 31, 2016	Jun. 30, 2018
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 120,000,000
Maximum rolling annual total net leverage ratio allowed		4
Actual rolling annual total net leverage ratio		0
Debt issuance cost, capitalized	$ 1,300,000
Scenario, Forecast
Debt Instrument [Line Items]
Maximum rolling annual total net leverage ratio allowed			3
Minimum
Debt Instrument [Line Items]
Commitment fee		0.25%
Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread		1.75%
Maximum
Debt Instrument [Line Items]
Commitment fee		0.375%
Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread		2.00%

Employee Incentive and Retire60

Employee Incentive and Retirement Plans - Schedule of Stock-Based Compensation Expense Recorded for Stock Options, Warrants and Series F Convertible Preferred Stock (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from stock compensation expense	$ 39	$ 0
Stock-based compensation, net	15,021	11,593
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,904	1,508
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	746	606
Engineering and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	3,723	1,798
General and administrative:
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	8,648	7,681
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	5,126	481
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	7,657	7,086
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	388	479
Stock issued related to acquisition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 1,850	$ 3,547

Employee Incentive and Retire61

Employee Incentive and Retirement Plans - Additional Information (Detail)	Feb. 09, 2016USD ($)	Mar. 31, 2016USD ($)EquityPlan$ / sharesshares	Mar. 31, 2015USD ($)$ / sharesshares	Dec. 31, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit from stock compensation expense		$ 39,000	$ 0
Outstanding (shares) | shares		48,454,660		48,208,911
Option granted to purchase of common stock (shares) | shares		4,547,230
Options granted, weighted average exercise price ($ per share) | $ / shares		$ 8.48
Total intrinsic values of options exercised		$ 27,900,000	10,800,000
Total fair value of shares vested		$ 10,300,000	6,100,000
Repurchased (shares) | shares		2,282,700
Retirement Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Service period		90 days
Employer 401(k) Match		4.00%
Employer discretionary contribution amount		$ 5,000
Cost recognized		$ 1,500,000	$ 600,000
Share Repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase	$ 150,000,000
Authorized repurchase period	1 year
Cost ($ per share) | $ / shares		$ 8.52
Cost		$ 19,500,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option granted to purchase of common stock (shares) | shares			768,500
Options granted, weighted average exercise price ($ per share) | $ / shares			$ 20.81
Common stock, weighted average grant date fair value per share ($ per share) | $ / shares		$ 4.26	$ 10.27
Options granted, total estimated fair value		$ 19,400,000	$ 7,900,000
Unrecognized compensation cost		$ 85,900,000
Unrecognized compensation cost expected period for recognition		1 year 3 months
Employee Stock Option - Vested
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option granted to purchase of common stock (shares) | shares		265,987
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost expected period for recognition		3 years 8 months
RSUs granted (shares) | shares		9,168,791
Aggregate fair value		$ 77,100,000
Unrecognized compensation cost		$ 126,900,000
Available for ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase period		6 months
Purchase price of common stock		85.00%
Total common stock authorized and reserved for future issuance (shares) | shares		6,916,954
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]
Outstanding (shares) | shares		42,810,226
Equity Incentive Plan Twenty Fourteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for grant (shares) | shares		44,040,590
Internally Developed Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount		$ 1,900,000	$ 800,000

Employee Incentive and Retire62

Employee Incentive and Retirement Plans - Options Activity Under Option Plan (Detail) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Balances, beginning balance, Number of Shares | shares	48,208,911
Options Granted, Number of Shares | shares	4,547,230
Options Exercised, Number of Shares | shares	(3,822,799)
Options Forfeited/Expired, Number of Shares | shares	(478,682)
Balances, ending balance, Number of Shares | shares	48,454,660
Vested and expected to vest, Number of Shares | shares	48,091,745
Exercisable, Number of Shares | shares	26,444,648
Balances, beginning balance, Weighted Average Exercise Price Per Share | $ / shares	$ 3.60
Options Granted, Weighted Average Exercise Price Per Share | $ / shares	8.48
Options Exercised, Weighted Average Exercise Price Per Share | $ / shares	1.26
Options Forfeited/Expired, Weighted Average Exercise Price Per Share | $ / shares	6.97
Balances, ending balance, Weighted Average Exercise Price Per Share | $ / shares	4.21
Vested and expected to vest, Weighted Average Exercise Price Per Share | $ / shares	4.20
Exercisable, Weighted Average Exercise Per Share | $ / shares	$ 2.36
Outstanding, Weighted Average Remaining Contractual Life	7 years 1 month 5 days
Vested and expected to vest, Weighted Average Remaining Contractual Life	7 years 1 month
Exercisable, Weighted Average Remaining Contractual Life	6 years 2 months
Outstanding, Aggregate Intrinsic Value | $	$ 221,874
Vested and expected to vest, Aggregate Intrinsic Value | $	220,963
Exercisable, Aggregate Intrinsic Value | $	$ 163,676
Share price ($ per share) | $ / shares	$ 8.30
Employee Stock Option - Vested
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options Granted, Number of Shares | shares	265,987
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Purchase period	6 months

Employee Incentive and Retire63

Employee Incentive and Retirement Plans - Black-Scholes Option Pricing Model to Estimate Fair Value of Stock Options Granted (Detail)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected dividend yield	0.00%	0.00%
Weighted-average assumed stock price volatility	51.90%	49.90%
Weighted-average risk-free rate	1.39%	1.56%
Weighted-average expected life (in years)	6 years 2 months 5 days	6 years 3 months 1 day

Employee Incentive and Retire64

Employee Incentive and Retirement Plans - Restricted Stock Unit Activity and Weighted Average Grant Date Fair Value table (Details) - RSUs	3 Months Ended
	Mar. 31, 2016$ / sharesshares
Number of Shares (shares)
Unvested at December 31, 2015 | shares	4,443,399
RSUs granted | shares	9,168,791
RSUs vested | shares	(106,836)
RSUs forfeited/expired | shares	(404,127)
Unvested at March 31, 2016 | shares	13,101,227
Expected to vest after March 31, 2016 | shares	12,751,261
Weighted- Average Grant Date Fair Value ($ per share)
Unvested at December 31, 2015 | $ / shares	$ 15.23
RSUs granted | $ / shares	8.41
RSUs vested | $ / shares	18.61
RSUs forfeited/expired | $ / shares	10.83
Unvested at March 31, 2016 | $ / shares	10.56
Expected to vest after March 31, 2016 | $ / shares	$ 10.53

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ 151	$ 627
Valuation allowance	$ 25,300		$ 25,300

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) ft² in Thousands	1 Months Ended	2 Months Ended	3 Months Ended
	Apr. 30, 2015ft²renewal_option	May. 16, 2016USD ($)	Mar. 31, 2016USD ($)ft²lawsuit	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Commitments and Contingencies [Line Items]
Lease agreement renewal term	5 years
Number of renewal terms | renewal_option	2
Rental expense			$ 3,200,000	$ 1,400,000
Minimum rent payments			2,200,000	$ 1,200,000
Security deposit - cash			800,000
Security deposit - letters of credit			4,700,000
Payments due in 2016			9,702,000
Payments due in 2017			15,090,000
Payments due in 2018			16,051,000
Payments due in 2019			15,619,000
Payments due in 2020			16,521,000
Payments due thereafter			57,190,000
Total payments due			$ 130,173,000
Loan purchase obligation period			2 days
Contingent loan purchase commitment limit			$ 180,700,000		$ 77,600,000
Commitment repurchases			3,800,000
Loan sales			15,113,000		$ 0
Deposit			9,000,000
Maximum cash pledged			5,000,000
Pledged and restricted to support contingent obligation			$ 3,400,000
Number of lawsuits | lawsuit			4
Subsequent Event
Commitments and Contingencies [Line Items]
Commitment repurchases		$ 22,300,000
Remaining Limit of Contingent Loan Purchase Commitment		$ 0
San Francisco
Commitments and Contingencies [Line Items]
Area of property (square feet) | ft²	112		169
Lease agreement expiration date			Jun. 1, 2022
Lease agreement renewal term			5 years
Westborough
Commitments and Contingencies [Line Items]
Area of property (square feet) | ft²			26

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended
	Mar. 31, 2016customersegment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	1
Sales Revenue, Net
Segment Reporting Information [Line Items]
Number of individual customers accounting for more than 10% of revenue | customer	0

Related Party Transactions - Su

Related Party Transactions - Summary of Deposits and Withdrawals Made by Related Parties (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2016	Apr. 01, 2016	Dec. 31, 2015
Minimum
Related Party Transaction [Line Items]
Related party transaction threshold	$ 120,000
Related Party Fund
Related Party Transaction [Line Items]
Loans	114,500,000
Related Party Fund | Affiliated Entity
Related Party Transaction [Line Items]
Expense	2,000,000
Related Party Fund | Servicing Fees | Affiliated Entity
Related Party Transaction [Line Items]
Income	380,000
Related Party Fund | Management Fees | Affiliated Entity
Related Party Transaction [Line Items]
Income	15,000
Related Party Fund
Related Party Transaction [Line Items]
Equity method investment	$ 10,000,000
Related Party Fund | Subsequent Event
Related Party Transaction [Line Items]
Ownership		15.00%
Equity method investment		$ 10,000,000
Related Party Fund | Chief Executive Officer
Related Party Transaction [Line Items]
Ownership	8.00%		2.00%
Additional investment	$ 4,000,000
Related Party Fund | Chief Executive Officer | Subsequent Event
Related Party Transaction [Line Items]
Ownership		8.00%
Related Party Fund | Director
Related Party Transaction [Line Items]
Ownership			10.00%
Related Party Fund | Director | Subsequent Event
Related Party Transaction [Line Items]
Ownership		8.00%
Related Party Fund | The Company, CEO, and Director | Subsequent Event
Related Party Transaction [Line Items]
Ownership		31.00%

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event $ in Millions	1 Months Ended
	May. 16, 2016USD ($)
Subsequent Event [Line Items]
Cash	$ 4.9
Restricted Stock Units (RSUs)
Subsequent Event [Line Items]
Share awards	11
Stock options
Subsequent Event [Line Items]
Share awards	$ 1