LendingClub (LC) 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Oct. 31, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
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		394,289,150

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 520,767	$ 623,531
Restricted cash	139,455	80,733
Securities available for sale	278,949	297,211
Loans at fair value (includes $2,675,002 and $3,022,001 from consolidated trust, respectively)	4,411,626	4,556,081
Loans held for sale	14,744	0
Accrued interest receivable (includes $24,741 and $24,477 from consolidated trust, respectively)	40,801	38,081
Property, equipment and software, net	82,556	55,930
Intangible assets, net	27,373	30,971
Goodwill	35,633	72,683
Other assets	55,833	38,413
Total assets	5,607,737	5,793,634
Liabilities and Stockholders’ Equity
Accounts payable	7,651	5,542
Accrued interest payable (includes $27,597 and $26,719 from consolidated trust, respectively)	44,080	40,244
Accrued expenses and other liabilities	78,177	61,243
Payable to investors	81,376	73,162
Notes and certificates at fair value (includes $2,691,022 and $3,034,586 from consolidated trust, respectively)	4,419,911	4,571,583
Total liabilities	4,631,195	4,751,774
Stockholders’ Equity
Common stock, $0.01 par value; 900,000,000 shares authorized at both September 30, 2016 and December 31, 2015; 394,158,313 and 379,716,630 shares issued and outstanding at September 30, 2016 and December 31, 2015, respectively	3,964	3,797
Additional paid-in capital	1,194,637	1,127,952
Accumulated deficit	(201,917)	(88,218)
Treasury stock, at cost; 2,282,700 and 0 shares at September 30, 2016 and December 31, 2015, respectively	(19,485)	0
Accumulated other comprehensive loss	(657)	(1,671)
Total stockholders’ equity	976,542	1,041,860
Total liabilities and stockholders’ equity	$ 5,607,737	$ 5,793,634

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Member Loans at fair value, from consolidated trust	$ 4,411,626	$ 4,556,081
Accrued interest receivable from consolidated Trust	40,801	38,081
Accrued interest payable from consolidated Trust	44,080	40,244
Notes and certificates, at fair value from consolidated Trust	$ 4,419,911	$ 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	394,158,313	379,716,630
Common stock, shares outstanding	394,158,313	379,716,630
Treasury stock, shares	2,282,700	0
Consolidated Trust
Member Loans at fair value, from consolidated trust	$ 2,675,002	$ 3,022,001
Accrued interest receivable from consolidated Trust	24,741	24,477
Accrued interest payable from consolidated Trust	27,597	26,719
Notes and certificates, at fair value from consolidated Trust	$ 2,691,022	$ 3,034,586

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2016		Sep. 30, 2015		Sep. 30, 2016	Sep. 30, 2015
Operating revenue:
Transaction fees	$ 100,813,000		$ 100,420,000		$ 321,926,000	$ 258,553,000
Servicing fees	16,513,000		8,999,000		45,058,000	20,870,000
Management fees	1,964,000		2,900,000		8,562,000	7,663,000
Other revenue (expense)	(6,681,000)		2,743,000		(9,281,000)	5,140,000
Total operating revenue	112,609,000		115,062,000		366,265,000	292,226,000
Net interest income:
Total interest income	171,868,000		145,833,000		529,432,000	389,831,000
Total interest expense	(169,444,000)		(144,659,000)		(523,723,000)	(387,666,000)
Net interest income	2,424,000		1,174,000		5,709,000	2,165,000
Fair value adjustments - loans, loans held for sale, notes and certificates	(477,000)		40,000		(1,684,000)	34,000
Net interest income and fair value adjustments	1,947,000		1,214,000		4,025,000	2,199,000
Total net revenue	114,556,000		116,276,000		370,290,000	294,425,000
Operating expenses:
Sales and marketing	44,901,000	[1]	44,018,000	[1]	161,213,000	117,989,000
Origination and servicing	16,332,000	[1]	16,732,000	[1]	56,464,000	43,639,000
Engineering and product development	29,428,000	[1]	21,063,000	[1]	82,835,000	53,175,000
Other general and administrative	58,940,000	[1]	32,280,000	[1]	150,432,000	86,937,000
Goodwill impairment	1,650,000	[1]	0		37,050,000	0
Total operating expenses	151,251,000	[1]	114,093,000	[1]	487,994,000	301,740,000
Income (loss) before income tax expense	(36,695,000)		2,183,000		(117,704,000)	(7,315,000)
Income tax (benefit) expense	(209,000)		1,233,000		(4,004,000)	2,249,000
Net income (loss)	$ (36,486,000)		$ 950,000		$ (113,700,000)	$ (9,564,000)
Basic net income (loss) per share attributable to common stockholders ($ per share)	$ (0.09)		$ 0		$ (0.30)	$ (0.03)
Diluted net income (loss) per share attributable to common stockholders ($ per share)	$ (0.09)		$ 0		$ (0.30)	$ (0.03)
Weighted-average shares of common stock used in computing basic net income (loss) per share (shares)	391,453,316		375,982,120		385,037,334	373,605,274
Weighted-average shares of common stock used in computing diluted net income (loss) per share (shares)	391,453,316		401,934,880		385,037,334	373,605,274
[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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (36,486)	$ 950	$ (113,700)	$ (9,564)
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in net unrealized gain (loss) on securities available for sale	111	(341)	1,710	(1,172)
Other comprehensive income (loss), before tax	111	(341)	1,710	(1,172)
Income tax effect	46	0	696	0
Other comprehensive income (loss), net of tax	65	(341)	1,014	(1,172)
Comprehensive income (loss)	$ (36,421)	$ 609	$ (112,686)	$ (10,736)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net income (loss)	$ (113,700,000)	$ (9,564,000)
Adjustments to reconcile net loss to net cash (used for) provided by operating activities:
Net fair value adjustments of loans, notes and certificates	1,684,000	(33,000)
Change in fair value of loan servicing liabilities	(3,028,000)	(3,919,000)
Change in fair value of loan servicing assets	7,092,000	2,467,000
Stock-based compensation, net	46,434,000	37,558,000
Excess tax benefit from share-based awards	62,000	0
Goodwill impairment	37,050,000	0
Depreciation and amortization	21,374,000	15,525,000
Loss (gain) on sales of loans	(10,531,000)	(2,136,000)
Other, net	3,618,000	42,000
Purchase of whole loans to be sold	(3,653,191,000)	(2,338,346,000)
Proceeds from sales of whole loans	3,635,330,000	2,338,346,000
Net change in operating assets and liabilities:
Accrued interest receivable	(2,720,000)	(12,282,000)
Other assets	(1,570,000)	(6,341,000)
Due from related parties	120,000	(139,000)
Accounts payable	1,888,000	(3,071,000)
Accrued interest payable	3,835,000	12,893,000
Accrued expenses and other liabilities	18,507,000	22,350,000
Net cash (used for) provided by operating activities	(7,746,000)	53,350,000
Cash Flows from Investing Activities:
Purchases of loans	(2,086,228,000)	(2,736,698,000)
Principal payments received on loans	1,783,763,000	1,280,005,000
Proceeds from recoveries and sales of charged-off loans	27,451,000	13,729,000
Proceeds from sale of loans repurchased	22,274,000	0
Purchases of securities available for sale	(40,123,000)	(402,832,000)
Proceeds from maturities, redemptions and paydowns of securities available for sale	59,735,000	63,198,000
Investment in Cirrix Capital	(10,000,000)	0
Net change in restricted cash	(58,722,000)	(112,453,000)
Purchases of property, equipment and software, net	(39,044,000)	(25,867,000)
Net cash used for investing activities	(340,894,000)	(1,920,918,000)
Cash Flows from Financing Activities:
Change in payable to investors	8,214,000	112,139,000
Proceeds from issuances of notes and certificates	2,041,746,000	2,736,667,000
Proceeds from secured borrowings	22,274,000	0
Repayments of secured borrowings	(22,274,000)	0
Principal payments on notes and certificates	(1,770,779,000)	(1,268,622,000)
Payments on notes and certificates from recoveries/sales of related charged-off loans	(26,871,000)	(13,654,000)
Repurchases of common stock	(19,485,000)	0
Proceeds from stock option exercises and other	10,580,000	7,680,000
Proceeds from issuance of common stock for ESPP	2,516,000	2,694,000
Excess tax benefit from share-based awards	(62,000)	0
Other financing activities	17,000	90,000
Net cash provided by financing activities	245,876,000	1,576,994,000
Net (Decrease) Increase in Cash and Cash Equivalents	(102,764,000)	(290,574,000)
Cash and Cash Equivalents, Beginning of Period	623,531,000	869,780,000
Cash and Cash Equivalents, End of Period	520,767,000	579,206,000
Supplemental Cash Flow Information:
Cash paid for interest	519,690,000	374,760,000
Accruals for property, equipment and software	$ 2,610,000	$ 3,466,000

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 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. 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. Although the Company's overall business model remains premised on the Company not using its balance sheet and not assuming credit risk for loans facilitated through our marketplace, the Company may use its capital 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's use of its capital on the platform from time to time has been, and will be, 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. With the announcement of the initial results of the internal board review on May 9, 2016 and additional findings disclosed on June 28, 2016, many investors paused or reduced their investment activity. The Company has been focused on working with these investors to resume their investment activity and on bringing new investors to the platform. During the second quarter of 2016 and the third quarter of 2016 through August 31, 2016 the Company offered incentives to investors in exchange for investment activity. The Company ended these incentives in August of 2016 and did not offer these incentives to investors for investments in loans in the month of September 2016. Additionally, the Company did not have to use a material amount of its own capital to purchase loans in the third quarter of 2016. The Company may enter into strategic arrangements, for example, agreements that involve larger or more long-term forms of committed capital. On November 7, 2016 the Company announced a new addition to the Company’s investor capital mix through an arrangement with a subsidiary of the National Bank of Canada which has approved up to $1.3 billion to be deployed on the Lending Club platform. Subject to certain terms and conditions, the first $325 million has been committed to be deployed on the platform over the next three months. The failure of the Company to attract investor capital may result in the Company using a greater amount of its own capital to purchase loans on the platform compared to prior periods, or reduce origination volume which could have material adverse impacts on the Company's business, financial condition (including its liquidity), results of operations or ability to sustain and grow loan volume. 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 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) and Form 10-K/A filed on May 17, 2016. 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	9 Months Ended
	Sep. 30, 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 for the nine month period ended September 30, 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; (iii) held in a Rabbi Trust through a grantor trust agreement to satisfy obligations to participants under the Company’s 2016 Cash Retention Bonus Plan (“Cash Retention Plan”). See “ Note 13 – Employee Incentive and Retirement Plans ” for additional information, or (iv) received from investors but not yet 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 condensed consolidated balance sheet. Loans Held for Sale Loans held by the Company with the intent to sell are reflected on the balance sheet as loans held for sale. Loans held for sale are accounted for at fair value. The Company’s fair value methodology for the measurement of loans held for sale is consistent with that of loans not classified as held for sale. The fair valuation methodology considers projected prepayments and uses the historical actual defaults, losses and recoveries on our loans to project future losses and net cash flows on loans. The fair value adjustments related to loans held for sale are recorded in the period of the fair value changes. 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 condensed consolidated financial statements at September 30, 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 September 30, 2016 , 100% of the family of funds' assets were comprised of whole loans and interests in loans facilitated by Lending Club's platform. At the time the Company made its investment, the Company's then Chief Executive Officer (former CEO) and a board member (together, the Related Party Investors) also had limited partnership interests in the Investment Fund that resulted in an aggregate ownership of approximately 29% in the Investment Fund by the Related Party Investors and the Company. As of September 30, 2016, the Company and a board member had an aggregate ownership interest of approximately 27% in the Investment Fund. The Company's investment is deemed to be a variable interest in the Investment Fund because of 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 family of funds, which are owned by the Investment Fund. Such loans and interests in loans were facilitated by the Company. Additionally, the Investment Fund is considered a VIE. 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 board member's investment, 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. 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 the 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 September 30, 2016 , the Company's investment was $10.1 million , which was recorded in other assets in the condensed consolidated balance sheet. See “ Note 17 – Related Party Transactions ” for additional information. 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. This credit support agreement is deemed to be a variable interest in the Investment Fund because it exposes the Company to potential credit losses on the underlying interests in loans purchased by the Investment Fund. The board member and the Company are excluded from receiving any benefits, if provided, from this credit support agreement. As of September 30, 2016 , the Company has not been required to nor does it anticipate recording losses under this agreement. The Company's maximum exposure to loss under this credit support agreement was limited to $6.0 million and $34.4 million at September 30, 2016 and December 31, 2015 , respectively. 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 September 30, 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 17 – 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. Loan 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 does not have a potentially significant economic interest in the VIE. In no case is the Company the primary beneficiary, and as a result, these entities are not consolidated in the Company's condensed consolidated financial statements. Loan Trailing Fee Liability In February 2016, the Company revised the agreement with its primary issuing bank to include an additional program fee (Loan Trailing Fee). The Loan Trailing Fee is dependent on the amount and timing of principal and interest payments made by borrowers of the underlying loans, and gives the issuing bank an ongoing financial interest in the performance of the loans it originates. This fee is paid by the Company to the issuing bank partner over the term of the respective loans and is a function of the principal and interest payments. In the event that principal and interest payments are not made, the Company is not required to make this Loan Trailing Fee payment. The Loan Trailing Fee is recorded at fair value with the initial establishment, and any changes, of this liability are netted against transaction fees on the Company's condensed consolidated statement of operations. The fair value of the Loan Trailing Fee represents the present value of the expected monthly Loan Trailing Fee, which considers assumptions of expected prepayment rates and future credit losses. Debt The Company has elected to record certain costs directly related to 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. Additionally, in instances where the Company transfers loans to investors that do not meet sale criteria for accounting purposes, such loan sales are accounted for as secured borrowings. Adoption of New Accounting Standard In February 2015, the Financial Accounting Standards Board (FASB) issued ASU 2015-02 Consolidation (Topic 810): Amendments to the Consolidation Analysis , 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. New Accounting Standards Not Yet Adopted In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments , which will be effective January 1, 2018, and amends the existing accounting standards for the statement of cash flows. The amendments provide guidance on the following eight cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and, separately identifiable cash flows and application of the predominance principle. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the timing and impact of these amendments on its cash flows. In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which will be effective January 1, 2020. The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In March 2016, the FASB issued ASU 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , 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 February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) that 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 issued ASU 2016-01 Financial Instruments - Overall (Subtopic: 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which will be effective January 1, 2018. The amendment changes the accounting for equity investments, changes 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 August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements - Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , which requires management to assess a company’s ability to continue as a going concern for each annual and interim reporting period, and disclose in its financial statements whether there is substantial doubt about the company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The new standard applies to all companies and is effective for the annual period ending after December 15, 2016, and all annual and interim periods thereafter. The Company does not believe adoption of this accounting standard will have a material effect on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606), 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 FASB issued an amendment (ASU 2016-08) to the new revenue recognition guidance clarifying how to determine if an entity is a principal or agent in a transaction. In April (ASU 2016-10) and May (ASU 2016-12) of 2016, the FASB further amended the guidance to include performance obligation identification, licensing implementation, collectability assessment and other presentation and transition clarifications. 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.

Net Income (Loss) Per Share and

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Net income (loss) $ (36,486 ) $ 950 $ (113,700 ) $ (9,564 ) Weighted average common shares - Basic 391,453,316 375,982,120 385,037,334 373,605,274 Weighted average common shares - Diluted 391,453,316 401,934,880 385,037,334 373,605,274 Net income (loss) per share: Basic $ (0.09 ) $ — $ (0.30 ) $ (0.03 ) Diluted $ (0.09 ) $ — $ (0.30 ) $ (0.03 )

Securities Available for Sale

Securities Available for Sale	9 Months Ended
	Sep. 30, 2016
Investments, Debt and Equity Securities [Abstract]
Securities Available for Sale	Securities Available for Sale The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of September 30, 2016 and December 31, 2015 , were as follows: September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 190,008 $ 128 $ (112 ) $ 190,024 Asset-backed securities 31,480 21 (2 ) 31,499 U.S. agency securities 19,603 17 — 19,620 Certificates of deposit 17,502 — — 17,502 Commercial paper 10,007 — — 10,007 U.S. Treasury securities 2,492 22 — 2,514 Other securities 7,818 — (35 ) 7,783 Total securities available for sale $ 278,910 $ 188 $ (149 ) $ 278,949 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 September 30, 2016 and December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total September 30, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 64,078 $ (54 ) $ 34,921 $ (58 ) $ 98,999 $ (112 ) Asset-backed securities 2,270 (1 ) 2,648 (1 ) 4,918 (2 ) Other securities 3,816 (1 ) 3,968 (34 ) 7,784 (35 ) Total securities with unrealized losses (1) $ 70,164 $ (56 ) $ 41,537 $ (93 ) $ 111,701 $ (149 ) 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 September 30, 2016 and December 31, 2015 totaled 63 and 141 , respectively. There were no impairment charges recognized during the first nine months of 2016 and 2015 . The contractual maturities of securities available for sale at September 30, 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 $ 67,134 $ 122,890 $ — $ — $ 190,024 Asset-backed securities 7,424 24,075 — — 31,499 U.S. agency securities 14,609 5,011 — — 19,620 Certificates of deposit 17,502 — — — 17,502 Commercial paper 10,007 — — — 10,007 U.S. Treasury securities — 2,514 — — 2,514 Other securities 3,816 3,967 — — 7,783 Total fair value $ 120,492 $ 158,457 $ — $ — $ 278,949 Total amortized cost $ 120,515 $ 158,395 $ — $ — $ 278,910 There were no sales of securities available for sale during the first nine months of 2016 . Proceeds from the sales of securities available for sale during the first nine months of 2015 were $63.2 million resulting in an immaterial net gain.

Loans, Loans Held For Sale, Not

Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights	Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights Loans, Loans Held For Sale, 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 September 30, 2016 and December 31, 2015 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 4,677,055 $ 4,681,671 $ 4,684,038 $ 4,697,169 Net fair value adjustments (265,429 ) (125,590 ) (264,127 ) (125,586 ) Fair value $ 4,411,626 $ 4,556,081 $ 4,419,911 $ 4,571,583 Original term 12 - 84 months 12 - 60 months Interest rates (fixed) 3.54% - 31.89% 4.99% - 29.90% Maturity dates ≤ June 2023 ≤ December 2020 Loans invested in by the Company for which there was no associated note or certificate, had an aggregate principal balance outstanding of $34.2 million and a fair value of $33.0 million at September 30, 2016 . At September 30, 2016 the aggregate principal balance outstanding and fair value of the Company’s loans held for sale were $ 14.9 million and $ 14.7 million , respectively. The Company places all loans for all loan products that are contractually past due by 120 days or more on non-accrual status. At September 30, 2016 and December 31, 2015 , loans that were 90 days or more past due (including non-accrual loans) were as follows: September 30, 2016 December 31, 2015 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 42,643 $ 6,362 $ 30,094 $ 4,513 Net fair value adjustments (35,019 ) (5,192 ) (25,312 ) (3,722 ) Fair value $ 7,624 $ 1,170 $ 4,782 $ 791 # of loans (not in thousands) 3,620 562 2,606 382 For all standard and custom personal loan products, the Company's charge-off policy is to charge off loans after 120 days and no later than 150 days past due, or earlier in the event of notification of borrower bankruptcy. Loan Servicing Rights At September 30, 2016 , loans underlying loan servicing rights had a total outstanding principal balance of $6.24 billion , original terms between 12 and 84 months , monthly payments with interest rates ranging from 2.99% to 33.15% and maturity dates through May 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	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities The Company records certain assets and liabilities at fair value as listed in the following tables. Financial Instruments Recorded at Fair Value The following tables present the fair value hierarchy for assets and liabilities measured at fair value: September 30, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,411,626 $ 4,411,626 Loans held for sale — — 14,744 14,744 Securities available for sale: Corporate debt securities — 190,024 — 190,024 Asset-backed securities — 31,499 — 31,499 U.S. agency securities — 19,620 — 19,620 Certificates of deposit — 17,502 — 17,502 Commercial paper — 10,007 — 10,007 U.S. Treasury securities — 2,514 — 2,514 Other securities — 7,783 — 7,783 Total securities available for sale — 278,949 — 278,949 Servicing assets — — 16,255 16,255 Total assets $ — $ 278,949 $ 4,442,625 $ 4,721,574 Liabilities: Notes and certificates $ — $ — $ 4,419,911 $ 4,419,911 Servicing liabilities — — 3,397 3,397 Loan Trailing Fee liability — — 3,724 3,724 Total liabilities $ — $ — $ 4,427,032 $ 4,427,032 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, loans held for sale, loan servicing rights, and Loan Trailing Fee liability 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 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, changes in fair value for assets and liabilities within the Level 2 or Level 3 categories may include changes in fair value that were attributable to both observable and unobservable inputs. The Company did not transfer any assets or liabilities in or out of Level 3 during the first nine months of 2016 or the year ended December 31, 2015 . 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 September 30, 2016 and December 31, 2015 : September 30, 2016 Loans, Notes and Certificates (4) Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 0.7 % 16.5 % 7.4 % 2.2 % 15.9 % 7.9 % 2.2 % 15.9 % 7.7 % Net cumulative expected loss rates (1) 0.3 % 32.6 % 13.9 % 0.3 % 32.6 % 12.2 % 0.3 % 32.6 % 12.9 % Cumulative expected prepayment rates (1) 8.0 % 39.9 % 30.8 % 8.0 % 39.9 % 30.8 % 8.0 % 39.9 % 30.4 % Total market servicing rates (% per annum on outstanding principal balance) (2) N/A N/A N/A 0.63 % 0.90 % 0.63 % N/A N/A N/A December 31, 2015 Loans, Notes and Certificates (4) Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 2.9 % 17.5 % 9.0 % 3.5 % 16.3 % 9.4 % N/A N/A N/A Net cumulative expected loss rates (1) 0.3 % 22.0 % 9.9 % 0.3 % 22.0 % 8.8 % N/A N/A N/A Cumulative expected prepayment rates (1) 23.4 % 36.4 % 30.8 % 8.0 % 36.4 % 30.5 % N/A N/A N/A Total market servicing rates (% per annum on outstanding principal balance) (3) N/A N/A N/A 0.50 % 0.75 % 0.50 % N/A N/A N/A N/A Not applicable (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Includes collection fees estimated to be paid to a hypothetical third-party servicer. (3) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of December 31, 2015, the market rate for collection fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points. (4) Includes loans held for sale. At September 30, 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 tables 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, loans held for sale, notes and certificates measured at fair value on a recurring basis for the third quarters and first nine months 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 June 30, 2016 $ 4,765,258 $ (341,087 ) $ 4,424,171 $ 4,755,846 $ (339,961 ) $ 4,415,885 Purchases of loans 1,740,531 — 1,740,531 — — — Issuances of notes and certificates — — — 641,242 — 641,242 Whole loan sales (1,095,717 ) — (1,095,717 ) — — — Principal payments (605,595 ) — (605,595 ) (601,234 ) — (601,234 ) Charge-offs (112,517 ) 112,517 — (111,816 ) 111,816 — Recoveries — (10,517 ) (10,517 ) — (9,955 ) (9,955 ) Change in fair value recorded in earnings — (26,503 ) (26,503 ) — (26,027 ) (26,027 ) Ending balance at September 30, 2016 $ 4,691,960 $ (265,590 ) $ 4,426,370 $ 4,684,038 $ (264,127 ) $ 4,419,911 Loans held for sale at September 30, 2016 $ 14,905 $ (161 ) $ 14,744 Loans at fair value at September 30, 2016 $ 4,677,055 $ (265,429 ) $ 4,411,626 Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at June 30, 2015 $ 3,694,823 $ (57,440 ) $ 3,637,383 $ 3,717,556 $ (57,432 ) $ 3,660,124 Purchases of loans 1,946,455 — 1,946,455 — — — Issuances of notes and certificates — — — 991,926 — 991,926 Whole loan sales (954,770 ) — (954,770 ) — — — Principal payments (481,701 ) — (481,701 ) (478,189 ) — (478,189 ) Charge-offs (55,365 ) 55,365 — (55,346 ) 55,346 — Recoveries — (5,919 ) (5,919 ) — (5,867 ) (5,867 ) Change in fair value recorded in earnings — (72,474 ) (72,474 ) — (72,513 ) (72,513 ) Ending balance at September 30, 2015 $ 4,149,442 $ (80,468 ) $ 4,068,974 $ 4,175,947 $ (80,466 ) $ 4,095,481 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 5,739,419 — 5,739,419 — — — Issuances of notes and certificates — — — 2,041,746 — 2,041,746 Whole loan sales (3,657,604 ) — (3,657,604 ) — — — Principal payments (1,786,623 ) — (1,786,623 ) (1,770,779 ) — (1,770,779 ) Charge-offs (284,903 ) 284,903 — (284,098 ) 284,098 — Recoveries — (27,451 ) (27,451 ) — (26,871 ) (26,871 ) Change in fair value recorded in earnings — (397,452 ) (397,452 ) — (395,768 ) (395,768 ) Ending balance at September 30, 2016 $ 4,691,960 $ (265,590 ) $ 4,426,370 $ 4,684,038 $ (264,127 ) $ 4,419,911 Loans held for sale at September 30, 2016 $ 14,905 $ (161 ) $ 14,744 Loans at fair value at September 30, 2016 $ 4,677,055 $ (265,429 ) $ 4,411,626 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 5,075,044 — 5,075,044 — — — Issuances of notes and certificates — — — 2,736,667 — 2,736,667 Whole loan sales (2,338,346 ) — (2,338,346 ) — — — Principal payments (1,280,005 ) — (1,280,005 ) (1,268,622 ) — (1,268,622 ) Charge-offs (143,980 ) 143,980 — (143,935 ) 143,935 — Recoveries — (13,729 ) (13,729 ) — (13,653 ) (13,653 ) Change in fair value recorded in earnings — (172,495 ) (172,495 ) — (172,529 ) (172,529 ) Ending balance at September 30, 2015 $ 4,149,442 $ (80,468 ) $ 4,068,974 $ 4,175,947 $ (80,466 ) $ 4,095,481 The following tables present additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the third quarters and first nine months of 2016 and 2015 : Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 16,126 $ 3,412 $ 5,225 $ 4,831 Issuances (1) 3,009 712 3,092 1,402 Change in fair value, included in servicing fees (2,429 ) (727 ) (1,436 ) (1,839 ) Other net changes included in deferred revenue (451 ) — 368 — Fair value at end of period $ 16,255 $ 3,397 $ 7,249 $ 4,394 Nine Months Ended Nine Months Ended Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 10,250 $ 3,973 $ 2,181 $ 3,973 Issuances (1) 12,984 2,452 6,476 4,340 Change in fair value, included in servicing fees (7,092 ) (3,028 ) (2,467 ) (3,919 ) Other net changes included in deferred revenue 113 — 1,059 — Fair value at end of period $ 16,255 $ 3,397 $ 7,249 $ 4,394 (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue. The following table presents additional information about Level 3 Loan Trailing Fee liability measured at fair value on a recurring basis for the third quarter and first nine months of 2016 : Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Fair value at beginning of period $ 2,324 $ — Issuances 1,682 4,180 Cash payment of Loan Trailing Fee (395 ) (585 ) Change in fair value, included in origination and servicing 113 129 Fair value at end of period $ 3,724 $ 3,724 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 third quarter and first nine months 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, servicing assets and liabilities, and Loan Trailing Fees. 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, servicing assets and liabilities, and Loan Trailing Fees, 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. 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 market servicing benchmarking analyses provided by third-party valuation firms. 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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions (1) 0.63 % 0.63 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase by 0.10% $ (4,931 ) $ 1,410 $ (3,504 ) $ 1,589 Servicing rate decrease by 0.10% $ 5,347 $ (994 ) $ 3,610 $ (1,483 ) (1) Represents total market servicing rates, which include collection fees, at September 30, 2016 , and base market servicing rates, which exclude collection fees, at December 31, 2015 . As of December 31, 2015, the market rate for collection fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points. Financial Instruments, Assets, and Liabilities Not Recorded at Fair Value The following tables present the fair value hierarchy for financial instruments not recorded at fair value: September 30, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 520,767 $ — $ 520,767 $ — $ 520,767 Restricted cash 139,455 — 139,455 — 139,455 Servicer reserve receivable 2,565 — 2,565 — 2,565 Deposits 865 — 865 — 865 Goodwill 35,633 — — 35,633 35,633 Total assets $ 699,285 $ — $ 663,652 $ 35,633 $ 699,285 Liabilities: Accrued expenses and other liabilities $ 6,051 $ — $ — $ 6,051 $ 6,051 Accounts payable 7,651 — 7,651 — 7,651 Payables to investors 81,376 — 81,376 — 81,376 Total liabilities $ 95,078 $ — $ 89,027 $ 6,051 $ 95,078 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	9 Months Ended
	Sep. 30, 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: September 30, December 31, Internally developed software $ 69,739 $ 40,709 Computer equipment 16,965 14,076 Leasehold improvements 18,382 11,559 Purchased software 7,615 5,336 Furniture and fixtures 6,394 5,086 Construction in progress 4,526 2,870 Total property, equipment and software 123,621 79,636 Accumulated depreciation and amortization (41,065 ) (23,706 ) Total property, equipment and software, net $ 82,556 $ 55,930 Depreciation and amortization expense on property, equipment and software was $6.5 million and $17.8 million for the third quarter and first nine months of 2016 , respectively. Depreciation and amortization expense on property, equipment and software was $4.5 million and $11.4 million for the third quarter and first nine months of 2015 , respectively.

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: September 30, December 31, Loan servicing assets, at fair value $ 16,255 $ 10,250 Prepaid expenses 14,704 16,283 Other investments 10,329 250 Accounts receivable 6,719 4,976 Servicer reserve receivable 2,565 — Receivable from investors 1,279 1,117 Deferred financing cost 1,097 1,296 Deferred acquisition compensation 642 1,521 Due from related parties (1) 535 655 Deposits 865 871 Tenant improvement receivable 181 778 Other 662 416 Total other assets $ 55,833 $ 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	9 Months Ended
	Sep. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets The Company's intangible asset balance was $27.4 million and $31.0 million at September 30, 2016 and December 31, 2015 , respectively. Amortization expense associated with intangible assets for the third quarter and first nine months of 2016 was $1.2 million and $3.6 million , respectively. Amortization expense associated with intangible assets for the third quarter and first nine months of 2015 was $1.3 million and $ 4.1 million , respectively. Goodwill The Company's annual goodwill impairment testing date is April 1. In testing for potential impairment of goodwill, management performed an assessment of each of the Company's reporting units (generally defined as the Company's businesses for which financial information is available and reviewed regularly by management). Only the education and patient finance reporting unit contains goodwill. Due to the complexity and effort required to estimate the fair value of the reporting unit in the second step of the analysis, the fair value estimates were based on preliminary analysis and assumptions as of the end of the second quarter of 2016. Accordingly, we recorded our best estimate of the impairment of $35.4 million during the second quarter of 2016. The Company completed its annual goodwill impairment analysis in the third quarter of 2016 and recorded an additional impairment of $1.7 million for a total charge of $37.1 million for the first nine months of 2016. In the second quarter of 2016, in conjunction with the annual impairment test, the Company decreased its estimates of future earnings for the education and patient finance reporting unit, observed decreases in valuation multiples (i.e. enterprise value to revenue, and enterprise value to earnings before interest, taxes, depreciation, and amortization (EBITDA)) for peer group companies, and observed a marked decrease in the Company's overall market capitalization due, in substantial part to the resignation of Renaud Laplanche as CEO and Chairman and the events leading up to his resignation. In addition, the Company is subject to litigation and other inquiries related to the events surrounding the resignation of Mr. Laplanche. The publicity resulting from these events has adversely affected the Company’s brand. These factors were a contributor to the determination that the fair value of the reporting unit was less than its carrying value. The first step of the analysis is to compare the reporting unit’s estimate fair value to its carrying value. Estimating the fair value of the education and patient finance reporting unit was a subjective process involving the use of estimates and judgments, particularly related to future cash flows, discount rates (including market risk premiums) and market valuation multiples, which as discussed above were impacted by a series of events in the second quarter of 2016. The fair value of the reporting unit was determined using the income approach and the market approach, each a commonly used valuation technique. The Company gave consideration to each valuation technique, as either technique can be an indicator of fair value. For the income approach, the Company estimated future cash flows and used such cash flows in a discounted cash flow model (“DCF model”). A DCF model was selected to be comparable to what would be used by market participants to estimate fair value. The DCF model incorporated expected future growth rates, terminal value amounts, and the applicable weighted-average cost of capital to discount estimated cash flows. The projections used in the estimate of fair value are consistent with the Company’s current forecast and long-range plans for this reporting unit. For the market approach, the valuation of the reporting unit was based on an analysis of enterprise value to revenue and enterprise value to EBITDA valuation multiples. The peer group valuation multiples used in the analysis were selected based on management’s judgment. The second step of the analysis includes allocating the estimated fair value (determined in the first step) of the reporting unit to its assets and liabilities to determine an implied fair value of goodwill. The implied fair value of goodwill was determined in the same manner as the amount of goodwill recognized in an acquisition. That is, the estimated fair value of the reporting unit was allocated to all of the assets and liabilities of the unit (including unrecognized intangibles such as provider relationships) as if the reporting unit had been acquired and the estimated fair value was the purchase price paid. The Company did not record any goodwill impairment expense in either the third quarter or first nine months of 2015.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: September 30, December 31, Accrued expenses $ 18,491 $ 14,054 Accrued compensation 25,709 28,780 Investor incentives payable 529 — Deferred rent 8,489 4,615 Transaction fee refund reserve 6,860 578 Deferred revenue 2,665 2,551 Loan servicing liabilities, at fair value 3,397 3,973 Loan Trailing Fee liability, at fair value 3,724 — Payable to issuing banks 3,454 955 Deferred tax liability — 3,446 Early stock option exercise and other equity-related liabilities 51 83 Contingent liabilities — 700 Reimbursement payable to limited partners of private funds 1,013 — Other 3,795 1,508 Total accrued expenses and other liabilities $ 78,177 $ 61,243

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income (Loss)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Accumulated other comprehensive income (loss) represents other cumulative gains and losses that are not reflected in earnings. The components of other comprehensive income (loss) were as follows: Three Months Ended September 30, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized income (loss) on securities available for sale $ 111 $ 46 $ 65 $ (341 ) $ — $ (341 ) Other comprehensive income (loss) $ 111 $ 46 $ 65 $ (341 ) $ — $ (341 ) Nine Months Ended September 30, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized income (loss) on securities available for sale $ 1,710 $ 696 $ 1,014 $ (1,172 ) $ — $ (1,172 ) Other comprehensive income (loss) $ 1,710 $ 696 $ 1,014 $ (1,172 ) $ — $ (1,172 ) 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 1,014 Balance at September 30, 2016 $ (657 )

Secured Borrowings

Secured Borrowings	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Secured Borrowings	Secured Borrowings During the second quarter of 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. During the second quarter of 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. There were no secured borrowing liabilities as of September 30, 2016 .

Employee Incentive and Retireme

Employee Incentive and Retirement Plans	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Stock options $ 6,208 $ 8,101 $ 17,632 $ 23,314 RSUs 11,143 3,037 25,044 5,262 ESPP 438 491 1,273 1,416 Stock issued related to acquisition 133 1,850 2,441 7,566 Total stock-based compensation expense $ 17,922 $ 13,479 $ 46,390 $ 37,558 The following table presents the Company's stock-based compensation expense recorded in the condensed consolidated statements of operations: Three Months Ended Nine Months Ended 2016 2015 (1) 2016 2015 (1) Sales and marketing $ 1,699 $ 2,283 $ 5,016 $ 5,504 Origination and servicing 1,013 662 2,722 1,987 Engineering and product development 4,931 3,145 13,134 7,886 Other general and administrative 10,279 7,389 25,518 22,181 Total stock-based compensation expense $ 17,922 $ 13,479 $ 46,390 $ 37,558 (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 $2.2 million and $1.3 million of stock-based compensation expense associated with developing software for internal use during the third quarters of 2016 and 2015 , respectively. The Company capitalized $6.2 million and $3.1 million of stock-based compensation expense associated with developing software for internal use during the first nine months of 2016 and 2015 , respectively. In addition, the Company recognized $0 and $62 thousand in tax deficits from exercised stock options and RSUs during the third quarter and first nine months 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 third quarter and first nine months of 2015 . In the second quarter of 2016, the board of directors or the compensation committee of the board of directors, as appropriate, approved incentive retention awards to certain members of the executive management team and other key personnel. These incentive awards consisted of an aggregate of $16.3 million of RSUs and $18.6 million of cash. These incentive retention awards will be recognized as compensation expense ratably through May 2017. The cash retention awards were granted under the Cash Retention Plan. Under the terms of the Cash Retention Plan, employees who received an award will be eligible to earn a cash retention bonus on the terms and in the amounts specified in their respective cash retention bonus award agreement, subject to continued services and other vesting requirements set forth in such agreement. 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 September 30, 2016 , 26,642,089 options to purchase common stock granted under the 2007 Plan remain outstanding. As of September 30, 2016 , the total number of shares reserved for future grants under the 2014 Plan was 26,525,701 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 nine months 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 7,482,011 $ 7.22 Exercised (14,041,282 ) $ 0.78 Forfeited/Expired (8,686,702 ) $ 6.61 Outstanding at September 30, 2016 32,962,938 $ 4.83 7.0 $ 81,007 Vested and expected to vest at September 30, 2016 32,837,306 $ 4.83 7.0 $ 80,920 Exercisable at September 30, 2016 19,488,544 $ 3.52 6.1 $ 67,646 (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 $6.18 as reported on the New York Stock Exchange on September 30, 2016 . For the first nine months of 2016 , the Company granted service-based stock options to purchase 7,482,011 shares of common stock with a weighted average exercise price of $7.22 per option share, a weighted average grant date fair value of $3.61 per option share and an aggregate estimated fair value of $27.0 million . Stock options granted during the first nine months 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. In the third quarter of 2016, a portion of these options were modified and the cash bonuses were paid. For the first nine months of 2015 , the Company granted service-based stock options to purchase 1,164,929 shares of common stock with a weighted average exercise price of $20.00 per option share, a weighted average grant date fair value of $9.80 per option share and an aggregate estimated fair value of $11.4 million . The aggregate intrinsic value of options exercised was $71.0 million and $75.3 million for the first nine months of 2016 and 2015 , respectively. The total fair value of stock options vested for the first nine months of 2016 and 2015 was $25.4 million and $26.0 million , respectively. As of September 30, 2016 , the total unrecognized compensation cost, net of forfeitures, related to outstanding stock options was $50.4 million , which is expected to be recognized over the next 2.5 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 Nine Months Ended 2016 2015 2016 2015 Expected dividend yield — — — — Weighted-average assumed stock price volatility 51.0 % 48.7 % 51.6 % 49.4 % Weighted-average risk-free interest rate 1.28 % 1.67 % 1.34 % 1.61 % Weighted-average expected life (in years) 6.25 6.25 6.15 6.25 Restricted Stock Units The following table summarizes the activities for the Company's RSUs during the first nine months of 2016 : Number of RSUs Weighted- Unvested at December 31, 2015 4,443,399 $ 15.23 RSUs granted 35,556,344 $ 6.12 RSUs vested (1,917,809 ) $ 11.44 RSUs forfeited/expired (4,003,552 ) $ 9.13 Unvested at September 30, 2016 34,078,382 $ 6.66 Expected to vest after September 30, 2016 33,386,970 $ 9.47 For the first nine months of 2016 , the Company granted 35,556,344 RSUs with an aggregate fair value of $217.7 million . As of September 30, 2016 , there was $212.5 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over the next 3.3 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. The Company's employees purchased 721,918 shares of common stock under the ESPP during the first nine months of 2016 . No shares were purchased during the third quarter of 2016 . As of September 30, 2016 , a total of 6,195,036 shares remain reserved for future issuance. The Company's employees purchased 211,256 shares under the ESPP during the third quarter and first nine months of 2015. The fair value of stock purchase rights granted to employees under the ESPP is measured on the grant date using the Black-Scholes option pricing model. The compensation expense related to ESPP purchase rights is recognized on a straight-line basis, net of estimated forfeitures, over the 6 -month requisite service period. On May 11, 2016 and June 11, 2015, we used the following assumptions in estimating the fair value of the grant under the ESPP which are derived using the same methodology applied to stock option assumptions: Nine Months Ended 2016 2015 Expected dividend yield — — Weighted-average assumed stock price volatility 58.9 % 38.8 % Weighted-average risk-free interest rate 0.4 % 0.1 % Weighted-average expected life (in years) 0.50 0.42 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. In the first quarter of 2016 , the Company repurchased 2,282,720 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 . There were no shares repurchased during the second quarter or third quarter of 2016 and the Company does not currently intend to repurchase additional shares in the near term. 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 third quarters of 2016 and 2015 was $0.8 million and $0.5 million , respectively. The total expense for the employer match for the first nine months of 2016 and 2015 was $3.2 million and $1.5 million , respectively. Severance Costs On June 22, 2016, the Board of Directors (the "Board") of the Company approved a plan to reduce the number of employees, which includes payment of severance benefits to certain employees whose positions were affected. The plan authorized the reduction of up to 179 positions, or approximately 12% of the Company's workforce. The purpose of the action was to reduce costs, streamline operations and more closely align staffing with anticipated loan volumes. As a result, the Company recorded $2.7 million in severance costs, which were comprised predominately of cash severance, and paid $0.1 million during the second quarter of 2016. All of the remaining $2.6 million of severance costs was paid in the third quarter of 2016. No such costs were recorded in the third quarters of 2016 and 2015 and first nine months of 2015. The following table presents the Company's severance expense recorded in the condensed consolidated statements of operations: Nine Months Ended September 30, 2016 Sales and marketing $ 772 Origination and servicing 1,174 Engineering and product development 134 Other general and administrative 650 Total severance expense $ 2,730

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the third quarter and first nine months of 2016 , the Company recorded income tax benefit of $0.2 million and $4.0 million , respectively. For the third quarter and first nine months of 2015 , the Company recorded income tax expense of $1.2 million and $2.2 million , respectively. The income tax benefit in the third quarter and first nine months of 2016 included the recognition of a full valuation allowance against deferred tax assets and the tax effects of unrealized gains credited to other comprehensive income associated with the Company's available for sale portfolio. In addition, the income tax benefit in the first nine months of 2016 included the tax effect of the impairment of tax deductible goodwill, which occurred during the second quarter of 2016. The Company continues to recognize a full valuation allowance against net deferred tax assets. 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 September 30, 2016 and December 31, 2015 , the valuation allowance was $35.4 million and $25.3 million , respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 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 third quarter and first nine months of 2016 was $3.7 million and $10.5 million , respectively. Total facilities rental expense for the third quarter and first nine months of 2015 was $2.0 million and $5.0 million , respectively. Minimum lease payments for the third quarter and first nine months of 2016 was $3.4 million and $8.3 million , respectively. Minimum lease payments for the third quarter and first nine months of 2015 was $1.5 million and $4.1 million , respectively. As of September 30, 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 September 30, 2016 , were as follows: Minimum Rental Payments 2016 $ 3,661 2017 15,092 2018 16,053 2019 15,621 2020 16,523 Thereafter 57,201 Total $ 124,151 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 September 30, 2016 and December 31, 2015 , the Company was committed to purchase loans with an outstanding principal balance of $55.5 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 customary and consistent with institutional loan and securitization 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 do not meet the investor's investment criteria at the time of issuance, or 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 $39.5 million in loans during the first nine months of 2016. Loan Funding and Purchase Commitments During the second quarter of 2016, the Company purchased a total of $134.9 million in loans to fulfill regulatory requirements and to support short-term market place equilibrium as discussed below. The Company purchased $0.4 million in loans in the third quarter of 2016 to fulfill regulatory requirements or to support short-term market place equilibrium. 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 third 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 September 30, 2016 , were substantially funded in October 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. Following the events of May 9, 2016, the Company opted to use its own capital to support short-term marketplace equilibrium and purchased $99.5 million in loans during the second quarter of 2016. As of September 30, 2016, the Company held $34.2 million of loans on its balance sheet. In addition, 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 nine months of 2016 , the Company was not required to purchase any Pool B loans or interests in such loans. In connection with these purchase agreements, the Company has deposited $9.0 million into an account at the bank to secure potential, future purchases of these loans, if any. 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. As of September 30, 2016 , $3.4 million was pledged and restricted to support this contingent obligation. The Company's maximum exposure to loss under this credit support agreement was limited to $6.0 million at September 30, 2016 . As of September 30, 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 Securities Class Actions. During the first nine months of 2016, five putative class action lawsuits alleging violations of federal securities laws were filed in California Superior Court, San Mateo County, naming as defendants the Company, current and former directors, certain officers, and the underwriters in the December 2014 initial public offering (the IPO). All of these actions were consolidated into a single action (Consolidated State Court Action), entitled In re LendingClub Corporation Shareholder Litigation , No. CIV537300. In August 2016, plaintiffs filed a First Amended Consolidated Complaint ("FACC") alleging violations of Sections 11, 12(a)(2) and 15 of the Securities Act of 1933 (Securities Act) based on allegedly false and misleading statements in the IPO registration statement and prospectus. Plaintiffs seek to represent a class of persons who purchased or otherwise acquired the Company’s securities pursuant and/or traceable to the IPO registration statement and prospectus, and seek unspecified compensatory damages, costs and expenses, including attorneys’ fees, and other further relief as the Court may deem just and proper. Defendants demurred to the FACC, and in September 2016, the Court overruled those demurrers with respect to the Section 11 and 15 claims, and sustained the demurrers with leave to amend as the Section 12(a)(2) claim. The Court has not yet set a date for plaintiffs to file their Second Amended Consolidated Complaint. The Company believes that the plaintiffs’ allegations are without merit, and intends to vigorously defend against the claims. In May 2016, two related putative securities class actions (entitled Evellard v. LendingClub Corporation, et al. , No. 16-CV-2627-WHA, and Wertz v. LendingClub Corporation, et al. , No. 16-CV-2670-WHA) were filed in the United States District Court for the Northern District of California, naming as defendants the Company and certain of its officers and directors. Both actions asserted claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, and one of them asserted claims under Sections 11 and 15 of the Securities Act similar to those alleged in the Consolidated State Court Action. In mid-August 2016, the two actions were consolidated into a single action. Plaintiffs seek unspecified compensatory damages, costs and expenses, including attorneys’ fees, and other further relief as the Court may deem just and proper. Plaintiffs’ deadline to file a consolidated complaint is December 9, 2016. The Company believes that the plaintiffs’ allegations are without merit, and intends to vigorously defend against the claims. Derivative Lawsuits . In May 2016 and August 2016, respectively, two putative shareholder derivative actions were filed in California Superior Court ( Avila v. Laplanche, et al. , No. CIV538758 and Dua v. Laplanche, et al. , CGC-16-553731) against certain of the Company’s current and former officers and directors and naming the Company as a nominal defendant. These actions were voluntarily dismissed without prejudice by plaintiffs in October 2016.. In June 2016, another putative shareholder derivative action, entitled Stadnicki v. Laplanche, et al. , No. 16-CV-3072-WHA, was filed in the United States District Court for the Northern District of California against certain of the Company’s current and former officers and directors and naming the Company as a nominal defendant. This action was voluntarily dismissed without prejudice by plaintiff in August 2016. 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 has filed a motion to compel arbitration on an individual basis, which is now pending. The Company believes that the plaintiff's allegations are without merit, and intends to defend this matter vigorously. 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 was also contacted by the SEC and Federal Trade Commission ("FTC"). The Company continues cooperating with the DOJ, SEC, FTC and any other governmental or regulatory authorities or agencies. No assurance can be given as to the timing or outcome of these matters. In addition to the foregoing, the Company is subject to, and may continue to be subject to legal proceedings and regulatory actions in the ordinary course of business, including inquiries by state regulatory bodies related to the Company's marketplace lending model. These include inquiries from the California Department of Business Oversight, the New York Department of Financial Services and the West Virginia Attorney General's office. Based on the early stages of the matters above, the Company cannot provide a reasonable estimate of any potential liability arising from any such matter.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 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. 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	9 Months Ended
	Sep. 30, 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 a board member 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 nine months of 2016 , this family of funds purchased $212.0 million of whole loans and interests in whole loans. During the first nine months of 2016 , the Company earned $1.3 million in servicing fees and $51 thousand in management fees from this family of funds, and paid interest of $6.2 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. On April 1, 2016, the Company closed its $10.0 million investment, for an approximate ownership interest of 15% in the Investment Fund. At the time the Company made its investment, the Company's Related Party Investors also had limited partnership interests in the Investment Fund that resulted in an aggregate ownership of approximately 29% in the Investment Fund. As of September 30, 2016 , the Company and a board member had an aggregate ownership interest of approximately 27% in the Investment Fund.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to September 30, 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, the Company has determined none of these events were required to be recognized or disclosed.

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
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. 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. Although the Company's overall business model remains premised on the Company not using its balance sheet and not assuming credit risk for loans facilitated through our marketplace, the Company may use its capital 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's use of its capital on the platform from time to time has been, and will be, 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. With the announcement of the initial results of the internal board review on May 9, 2016 and additional findings disclosed on June 28, 2016, many investors paused or reduced their investment activity. The Company has been focused on working with these investors to resume their investment activity and on bringing new investors to the platform. During the second quarter of 2016 and the third quarter of 2016 through August 31, 2016 the Company offered incentives to investors in exchange for investment activity. The Company ended these incentives in August of 2016 and did not offer these incentives to investors for investments in loans in the month of September 2016. Additionally, the Company did not have to use a material amount of its own capital to purchase loans in the third quarter of 2016. The Company may enter into strategic arrangements, for example, agreements that involve larger or more long-term forms of committed capital. On November 7, 2016 the Company announced a new addition to the Company’s investor capital mix through an arrangement with a subsidiary of the National Bank of Canada which has approved up to $1.3 billion to be deployed on the Lending Club platform. Subject to certain terms and conditions, the first $325 million has been committed to be deployed on the platform over the next three months. The failure of the Company to attract investor capital may result in the Company using a greater amount of its own capital to purchase loans on the platform compared to prior periods, or reduce origination volume which could have material adverse impacts on the Company's business, financial condition (including its liquidity), results of operations or ability to sustain and grow loan volume. 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 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) and Form 10-K/A filed on May 17, 2016. The Company's significant accounting policies are included in “ Note 2 – Summary of Significant Accounting Policies. ”
Transaction Fee Revenue	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 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; (iii) held in a Rabbi Trust through a grantor trust agreement to satisfy obligations to participants under the Company’s 2016 Cash Retention Bonus Plan (“Cash Retention Plan”). See “ Note 13 – Employee Incentive and Retirement Plans ” for additional information, or (iv) received from investors but not yet 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 condensed consolidated balance sheet.
Loans Held for Sale	Loans Held for Sale Loans held by the Company with the intent to sell are reflected on the balance sheet as loans held for sale. Loans held for sale are accounted for at fair value. The Company’s fair value methodology for the measurement of loans held for sale is consistent with that of loans not classified as held for sale. The fair valuation methodology considers projected prepayments and uses the historical actual defaults, losses and recoveries on our loans to project future losses and net cash flows on loans. The fair value adjustments related to loans held for sale are recorded in the period of the fair value changes.
Consolidation of Variable Interest Entities	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 condensed consolidated financial statements at September 30, 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 September 30, 2016 , 100% of the family of funds' assets were comprised of whole loans and interests in loans facilitated by Lending Club's platform. At the time the Company made its investment, the Company's then Chief Executive Officer (former CEO) and a board member (together, the Related Party Investors) also had limited partnership interests in the Investment Fund that resulted in an aggregate ownership of approximately 29% in the Investment Fund by the Related Party Investors and the Company. As of September 30, 2016, the Company and a board member had an aggregate ownership interest of approximately 27% in the Investment Fund. The Company's investment is deemed to be a variable interest in the Investment Fund because of 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 family of funds, which are owned by the Investment Fund. Such loans and interests in loans were facilitated by the Company. Additionally, the Investment Fund is considered a VIE. 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 board member's investment, 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. 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 the 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 September 30, 2016 , the Company's investment was $10.1 million , which was recorded in other assets in the condensed consolidated balance sheet. See “ Note 17 – Related Party Transactions ” for additional information. 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. This credit support agreement is deemed to be a variable interest in the Investment Fund because it exposes the Company to potential credit losses on the underlying interests in loans purchased by the Investment Fund. The board member and the Company are excluded from receiving any benefits, if provided, from this credit support agreement. As of September 30, 2016 , the Company has not been required to nor does it anticipate recording losses under this agreement. The Company's maximum exposure to loss under this credit support agreement was limited to $6.0 million and $34.4 million at September 30, 2016 and December 31, 2015 , respectively. 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 September 30, 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 17 – 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. Loan 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 does not have a potentially significant economic interest in the VIE. In no case is the Company the primary beneficiary, and as a result, these entities are not consolidated in the Company's condensed consolidated financial statements.
Loan Trailing Fee Liability	Loan Trailing Fee Liability In February 2016, the Company revised the agreement with its primary issuing bank to include an additional program fee (Loan Trailing Fee). The Loan Trailing Fee is dependent on the amount and timing of principal and interest payments made by borrowers of the underlying loans, and gives the issuing bank an ongoing financial interest in the performance of the loans it originates. This fee is paid by the Company to the issuing bank partner over the term of the respective loans and is a function of the principal and interest payments. In the event that principal and interest payments are not made, the Company is not required to make this Loan Trailing Fee payment. The Loan Trailing Fee is recorded at fair value with the initial establishment, and any changes, of this liability are netted against transaction fees on the Company's condensed consolidated statement of operations. The fair value of the Loan Trailing Fee represents the present value of the expected monthly Loan Trailing Fee, which considers assumptions of expected prepayment rates and future credit losses.
Debt	Debt The Company has elected to record certain costs directly related to 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. Additionally, in instances where the Company transfers loans to investors that do not meet sale criteria for accounting purposes, such loan sales are accounted for as secured borrowings.
New Accounting Standards	Adoption of New Accounting Standard In February 2015, the Financial Accounting Standards Board (FASB) issued ASU 2015-02 Consolidation (Topic 810): Amendments to the Consolidation Analysis , 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. New Accounting Standards Not Yet Adopted In August 2016, the FASB issued ASU 2016-15 Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments , which will be effective January 1, 2018, and amends the existing accounting standards for the statement of cash flows. The amendments provide guidance on the following eight cash flow issues: debt prepayment or debt extinguishment costs; settlement of zero-coupon or other debt instruments with coupon interest rates that are insignificant in relation to the effective interest rate of the borrowing; contingent consideration payments made after a business combination; proceeds from the settlement of insurance claims; proceeds from the settlement of corporate-owned life insurance policies; distributions received from equity method investees; beneficial interests in securitization transactions; and, separately identifiable cash flows and application of the predominance principle. Early adoption is permitted, including adoption in an interim period. The Company is currently evaluating the timing and impact of these amendments on its cash flows. In June 2016, the FASB amended guidance related to impairment of financial instruments as part of ASU 2016-13 Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , which will be effective January 1, 2020. The guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. The Company is currently evaluating the impact of this new guidance on its financial position, results of operations, EPS and cash flows. In March 2016, the FASB issued ASU 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting , 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 February 2016, the FASB issued ASU 2016-02 Leases (Topic 842) that 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 issued ASU 2016-01 Financial Instruments - Overall (Subtopic: 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities , which will be effective January 1, 2018. The amendment changes the accounting for equity investments, changes 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 August 2014, the FASB issued ASU 2014-15 Presentation of Financial Statements - Going Concern (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern , which requires management to assess a company’s ability to continue as a going concern for each annual and interim reporting period, and disclose in its financial statements whether there is substantial doubt about the company’s ability to continue as a going concern within one year after the date that the financial statements are issued. The new standard applies to all companies and is effective for the annual period ending after December 15, 2016, and all annual and interim periods thereafter. The Company does not believe adoption of this accounting standard will have a material effect on its consolidated financial statements. In May 2014, the FASB issued ASU 2014-09 Revenue from Contracts with Customers (Topic 606), 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 FASB issued an amendment (ASU 2016-08) to the new revenue recognition guidance clarifying how to determine if an entity is a principal or agent in a transaction. In April (ASU 2016-10) and May (ASU 2016-12) of 2016, the FASB further amended the guidance to include performance obligation identification, licensing implementation, collectability assessment and other presentation and transition clarifications. 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.

Net Income (Loss) Per Share a26

Net Income (Loss) Per Share and Net Income (Loss) Attributable to Common Stockholders (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Net income (loss) $ (36,486 ) $ 950 $ (113,700 ) $ (9,564 ) Weighted average common shares - Basic 391,453,316 375,982,120 385,037,334 373,605,274 Weighted average common shares - Diluted 391,453,316 401,934,880 385,037,334 373,605,274 Net income (loss) per share: Basic $ (0.09 ) $ — $ (0.30 ) $ (0.03 ) Diluted $ (0.09 ) $ — $ (0.30 ) $ (0.03 )

Securities Available for Sale (

Securities Available for Sale (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 and December 31, 2015 , were as follows: September 30, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 190,008 $ 128 $ (112 ) $ 190,024 Asset-backed securities 31,480 21 (2 ) 31,499 U.S. agency securities 19,603 17 — 19,620 Certificates of deposit 17,502 — — 17,502 Commercial paper 10,007 — — 10,007 U.S. Treasury securities 2,492 22 — 2,514 Other securities 7,818 — (35 ) 7,783 Total securities available for sale $ 278,910 $ 188 $ (149 ) $ 278,949 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 September 30, 2016 and December 31, 2015 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total September 30, 2016 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 64,078 $ (54 ) $ 34,921 $ (58 ) $ 98,999 $ (112 ) Asset-backed securities 2,270 (1 ) 2,648 (1 ) 4,918 (2 ) Other securities 3,816 (1 ) 3,968 (34 ) 7,784 (35 ) Total securities with unrealized losses (1) $ 70,164 $ (56 ) $ 41,537 $ (93 ) $ 111,701 $ (149 ) 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 September 30, 2016 and December 31, 2015 totaled 63 and 141 , respectively.
Available-for-sale Securities by Contractual Maturity	The contractual maturities of securities available for sale at September 30, 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 $ 67,134 $ 122,890 $ — $ — $ 190,024 Asset-backed securities 7,424 24,075 — — 31,499 U.S. agency securities 14,609 5,011 — — 19,620 Certificates of deposit 17,502 — — — 17,502 Commercial paper 10,007 — — — 10,007 U.S. Treasury securities — 2,514 — — 2,514 Other securities 3,816 3,967 — — 7,783 Total fair value $ 120,492 $ 158,457 $ — $ — $ 278,949 Total amortized cost $ 120,515 $ 158,395 $ — $ — $ 278,910

Loans, Loans Held For Sale, N28

Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Loans and Notes and Certificates	At September 30, 2016 and December 31, 2015 , loans, notes and certificates measured at fair value on a recurring basis were as follows: Loans Notes and Certificates September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 4,677,055 $ 4,681,671 $ 4,684,038 $ 4,697,169 Net fair value adjustments (265,429 ) (125,590 ) (264,127 ) (125,586 ) Fair value $ 4,411,626 $ 4,556,081 $ 4,419,911 $ 4,571,583 Original term 12 - 84 months 12 - 60 months Interest rates (fixed) 3.54% - 31.89% 4.99% - 29.90% Maturity dates ≤ June 2023 ≤ December 2020
Past Due Financing Receivables	At September 30, 2016 and December 31, 2015 , loans that were 90 days or more past due (including non-accrual loans) were as follows: September 30, 2016 December 31, 2015 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 42,643 $ 6,362 $ 30,094 $ 4,513 Net fair value adjustments (35,019 ) (5,192 ) (25,312 ) (3,722 ) Fair value $ 7,624 $ 1,170 $ 4,782 $ 791 # of loans (not in thousands) 3,620 562 2,606 382

Fair Value of Assets and Liab29

Fair Value of Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Loans, Loan Servicing Rights, Related Notes and Certificates	The following tables present the fair value hierarchy for assets and liabilities measured at fair value: September 30, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,411,626 $ 4,411,626 Loans held for sale — — 14,744 14,744 Securities available for sale: Corporate debt securities — 190,024 — 190,024 Asset-backed securities — 31,499 — 31,499 U.S. agency securities — 19,620 — 19,620 Certificates of deposit — 17,502 — 17,502 Commercial paper — 10,007 — 10,007 U.S. Treasury securities — 2,514 — 2,514 Other securities — 7,783 — 7,783 Total securities available for sale — 278,949 — 278,949 Servicing assets — — 16,255 16,255 Total assets $ — $ 278,949 $ 4,442,625 $ 4,721,574 Liabilities: Notes and certificates $ — $ — $ 4,419,911 $ 4,419,911 Servicing liabilities — — 3,397 3,397 Loan Trailing Fee liability — — 3,724 3,724 Total liabilities $ — $ — $ 4,427,032 $ 4,427,032 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 September 30, 2016 and December 31, 2015 : September 30, 2016 Loans, Notes and Certificates (4) Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 0.7 % 16.5 % 7.4 % 2.2 % 15.9 % 7.9 % 2.2 % 15.9 % 7.7 % Net cumulative expected loss rates (1) 0.3 % 32.6 % 13.9 % 0.3 % 32.6 % 12.2 % 0.3 % 32.6 % 12.9 % Cumulative expected prepayment rates (1) 8.0 % 39.9 % 30.8 % 8.0 % 39.9 % 30.8 % 8.0 % 39.9 % 30.4 % Total market servicing rates (% per annum on outstanding principal balance) (2) N/A N/A N/A 0.63 % 0.90 % 0.63 % N/A N/A N/A December 31, 2015 Loans, Notes and Certificates (4) Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 2.9 % 17.5 % 9.0 % 3.5 % 16.3 % 9.4 % N/A N/A N/A Net cumulative expected loss rates (1) 0.3 % 22.0 % 9.9 % 0.3 % 22.0 % 8.8 % N/A N/A N/A Cumulative expected prepayment rates (1) 23.4 % 36.4 % 30.8 % 8.0 % 36.4 % 30.5 % N/A N/A N/A Total market servicing rates (% per annum on outstanding principal balance) (3) N/A N/A N/A 0.50 % 0.75 % 0.50 % N/A N/A N/A N/A Not applicable (1) Expressed as a percentage of the original principal balance of the loan, note or certificate. (2) Includes collection fees estimated to be paid to a hypothetical third-party servicer. (3) Excludes collection fees that would be passed on to a hypothetical third-party servicer. As of December 31, 2015, the market rate for collection fees was assumed to be 7 basis points for a weighted-average total market servicing rate of 57 basis points. (4) Includes loans held for sale.
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Table	The following tables present additional information about Level 3 loans, loans held for sale, notes and certificates measured at fair value on a recurring basis for the third quarters and first nine months 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 June 30, 2016 $ 4,765,258 $ (341,087 ) $ 4,424,171 $ 4,755,846 $ (339,961 ) $ 4,415,885 Purchases of loans 1,740,531 — 1,740,531 — — — Issuances of notes and certificates — — — 641,242 — 641,242 Whole loan sales (1,095,717 ) — (1,095,717 ) — — — Principal payments (605,595 ) — (605,595 ) (601,234 ) — (601,234 ) Charge-offs (112,517 ) 112,517 — (111,816 ) 111,816 — Recoveries — (10,517 ) (10,517 ) — (9,955 ) (9,955 ) Change in fair value recorded in earnings — (26,503 ) (26,503 ) — (26,027 ) (26,027 ) Ending balance at September 30, 2016 $ 4,691,960 $ (265,590 ) $ 4,426,370 $ 4,684,038 $ (264,127 ) $ 4,419,911 Loans held for sale at September 30, 2016 $ 14,905 $ (161 ) $ 14,744 Loans at fair value at September 30, 2016 $ 4,677,055 $ (265,429 ) $ 4,411,626 Loans Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at June 30, 2015 $ 3,694,823 $ (57,440 ) $ 3,637,383 $ 3,717,556 $ (57,432 ) $ 3,660,124 Purchases of loans 1,946,455 — 1,946,455 — — — Issuances of notes and certificates — — — 991,926 — 991,926 Whole loan sales (954,770 ) — (954,770 ) — — — Principal payments (481,701 ) — (481,701 ) (478,189 ) — (478,189 ) Charge-offs (55,365 ) 55,365 — (55,346 ) 55,346 — Recoveries — (5,919 ) (5,919 ) — (5,867 ) (5,867 ) Change in fair value recorded in earnings — (72,474 ) (72,474 ) — (72,513 ) (72,513 ) Ending balance at September 30, 2015 $ 4,149,442 $ (80,468 ) $ 4,068,974 $ 4,175,947 $ (80,466 ) $ 4,095,481 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 5,739,419 — 5,739,419 — — — Issuances of notes and certificates — — — 2,041,746 — 2,041,746 Whole loan sales (3,657,604 ) — (3,657,604 ) — — — Principal payments (1,786,623 ) — (1,786,623 ) (1,770,779 ) — (1,770,779 ) Charge-offs (284,903 ) 284,903 — (284,098 ) 284,098 — Recoveries — (27,451 ) (27,451 ) — (26,871 ) (26,871 ) Change in fair value recorded in earnings — (397,452 ) (397,452 ) — (395,768 ) (395,768 ) Ending balance at September 30, 2016 $ 4,691,960 $ (265,590 ) $ 4,426,370 $ 4,684,038 $ (264,127 ) $ 4,419,911 Loans held for sale at September 30, 2016 $ 14,905 $ (161 ) $ 14,744 Loans at fair value at September 30, 2016 $ 4,677,055 $ (265,429 ) $ 4,411,626 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 5,075,044 — 5,075,044 — — — Issuances of notes and certificates — — — 2,736,667 — 2,736,667 Whole loan sales (2,338,346 ) — (2,338,346 ) — — — Principal payments (1,280,005 ) — (1,280,005 ) (1,268,622 ) — (1,268,622 ) Charge-offs (143,980 ) 143,980 — (143,935 ) 143,935 — Recoveries — (13,729 ) (13,729 ) — (13,653 ) (13,653 ) Change in fair value recorded in earnings — (172,495 ) (172,495 ) — (172,529 ) (172,529 ) Ending balance at September 30, 2015 $ 4,149,442 $ (80,468 ) $ 4,068,974 $ 4,175,947 $ (80,466 ) $ 4,095,481 The following tables present additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the third quarters and first nine months of 2016 and 2015 : Three Months Ended September 30, 2016 Three Months Ended September 30, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 16,126 $ 3,412 $ 5,225 $ 4,831 Issuances (1) 3,009 712 3,092 1,402 Change in fair value, included in servicing fees (2,429 ) (727 ) (1,436 ) (1,839 ) Other net changes included in deferred revenue (451 ) — 368 — Fair value at end of period $ 16,255 $ 3,397 $ 7,249 $ 4,394 Nine Months Ended Nine Months Ended Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 10,250 $ 3,973 $ 2,181 $ 3,973 Issuances (1) 12,984 2,452 6,476 4,340 Change in fair value, included in servicing fees (7,092 ) (3,028 ) (2,467 ) (3,919 ) Other net changes included in deferred revenue 113 — 1,059 — Fair value at end of period $ 16,255 $ 3,397 $ 7,249 $ 4,394 (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue.
Fair Value, Liabilities Measured on Recurring Basis	The following table presents additional information about Level 3 Loan Trailing Fee liability measured at fair value on a recurring basis for the third quarter and first nine months of 2016 : Three Months Ended September 30, 2016 Nine Months Ended September 30, 2016 Fair value at beginning of period $ 2,324 $ — Issuances 1,682 4,180 Cash payment of Loan Trailing Fee (395 ) (585 ) Change in fair value, included in origination and servicing 113 129 Fair value at end of period $ 3,724 $ 3,724
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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions (1) 0.63 % 0.63 % 0.50 % 0.50 % Change in fair value from: Servicing rate increase by 0.10% $ (4,931 ) $ 1,410 $ (3,504 ) $ 1,589 Servicing rate decrease by 0.10% $ 5,347 $ (994 ) $ 3,610 $ (1,483 ) (1) Represents total market servicing rates, which include collection fees, at September 30, 2016 , and base market servicing rates, which exclude collection fees, at December 31, 2015 . As of December 31, 2015, the market rate for collection 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: September 30, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents $ 520,767 $ — $ 520,767 $ — $ 520,767 Restricted cash 139,455 — 139,455 — 139,455 Servicer reserve receivable 2,565 — 2,565 — 2,565 Deposits 865 — 865 — 865 Goodwill 35,633 — — 35,633 35,633 Total assets $ 699,285 $ — $ 663,652 $ 35,633 $ 699,285 Liabilities: Accrued expenses and other liabilities $ 6,051 $ — $ — $ 6,051 $ 6,051 Accounts payable 7,651 — 7,651 — 7,651 Payables to investors 81,376 — 81,376 — 81,376 Total liabilities $ 95,078 $ — $ 89,027 $ 6,051 $ 95,078 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 Softw30

Property, Equipment and Software, Net (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Equipment and Software	Property, equipment and software, net, consist of the following: September 30, December 31, Internally developed software $ 69,739 $ 40,709 Computer equipment 16,965 14,076 Leasehold improvements 18,382 11,559 Purchased software 7,615 5,336 Furniture and fixtures 6,394 5,086 Construction in progress 4,526 2,870 Total property, equipment and software 123,621 79,636 Accumulated depreciation and amortization (41,065 ) (23,706 ) Total property, equipment and software, net $ 82,556 $ 55,930

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: September 30, December 31, Loan servicing assets, at fair value $ 16,255 $ 10,250 Prepaid expenses 14,704 16,283 Other investments 10,329 250 Accounts receivable 6,719 4,976 Servicer reserve receivable 2,565 — Receivable from investors 1,279 1,117 Deferred financing cost 1,097 1,296 Deferred acquisition compensation 642 1,521 Due from related parties (1) 535 655 Deposits 865 871 Tenant improvement receivable 181 778 Other 662 416 Total other assets $ 55,833 $ 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 Li32

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: September 30, December 31, Accrued expenses $ 18,491 $ 14,054 Accrued compensation 25,709 28,780 Investor incentives payable 529 — Deferred rent 8,489 4,615 Transaction fee refund reserve 6,860 578 Deferred revenue 2,665 2,551 Loan servicing liabilities, at fair value 3,397 3,973 Loan Trailing Fee liability, at fair value 3,724 — Payable to issuing banks 3,454 955 Deferred tax liability — 3,446 Early stock option exercise and other equity-related liabilities 51 83 Contingent liabilities — 700 Reimbursement payable to limited partners of private funds 1,013 — Other 3,795 1,508 Total accrued expenses and other liabilities $ 78,177 $ 61,243

Accumulated Other Comprehensi33

Accumulated Other Comprehensive Income (Loss) (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Comprehensive Income (Loss)	The components of other comprehensive income (loss) were as follows: Three Months Ended September 30, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized income (loss) on securities available for sale $ 111 $ 46 $ 65 $ (341 ) $ — $ (341 ) Other comprehensive income (loss) $ 111 $ 46 $ 65 $ (341 ) $ — $ (341 ) Nine Months Ended September 30, 2016 2015 Before Tax Tax Effect Net of Tax Before Tax Tax Effect Net of Tax Change in net unrealized income (loss) on securities available for sale $ 1,710 $ 696 $ 1,014 $ (1,172 ) $ — $ (1,172 ) Other comprehensive income (loss) $ 1,710 $ 696 $ 1,014 $ (1,172 ) $ — $ (1,172 )
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 1,014 Balance at September 30, 2016 $ (657 )

Employee Incentive and Retire34

Employee Incentive and Retirement Plans (Tables)	9 Months Ended
	Sep. 30, 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 Nine Months Ended 2016 2015 2016 2015 Stock options $ 6,208 $ 8,101 $ 17,632 $ 23,314 RSUs 11,143 3,037 25,044 5,262 ESPP 438 491 1,273 1,416 Stock issued related to acquisition 133 1,850 2,441 7,566 Total stock-based compensation expense $ 17,922 $ 13,479 $ 46,390 $ 37,558
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 Nine Months Ended 2016 2015 (1) 2016 2015 (1) Sales and marketing $ 1,699 $ 2,283 $ 5,016 $ 5,504 Origination and servicing 1,013 662 2,722 1,987 Engineering and product development 4,931 3,145 13,134 7,886 Other general and administrative 10,279 7,389 25,518 22,181 Total stock-based compensation expense $ 17,922 $ 13,479 $ 46,390 $ 37,558 (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 nine months 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 7,482,011 $ 7.22 Exercised (14,041,282 ) $ 0.78 Forfeited/Expired (8,686,702 ) $ 6.61 Outstanding at September 30, 2016 32,962,938 $ 4.83 7.0 $ 81,007 Vested and expected to vest at September 30, 2016 32,837,306 $ 4.83 7.0 $ 80,920 Exercisable at September 30, 2016 19,488,544 $ 3.52 6.1 $ 67,646 (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 $6.18 as reported on the New York Stock Exchange on September 30, 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 Nine Months Ended 2016 2015 2016 2015 Expected dividend yield — — — — Weighted-average assumed stock price volatility 51.0 % 48.7 % 51.6 % 49.4 % Weighted-average risk-free interest rate 1.28 % 1.67 % 1.34 % 1.61 % Weighted-average expected life (in years) 6.25 6.25 6.15 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 nine months of 2016 : Number of RSUs Weighted- Unvested at December 31, 2015 4,443,399 $ 15.23 RSUs granted 35,556,344 $ 6.12 RSUs vested (1,917,809 ) $ 11.44 RSUs forfeited/expired (4,003,552 ) $ 9.13 Unvested at September 30, 2016 34,078,382 $ 6.66 Expected to vest after September 30, 2016 33,386,970 $ 9.47
Schedule of Share-based Payment Award, Employee Stock Purchase Plan, Valuation Assumptions	On May 11, 2016 and June 11, 2015, we used the following assumptions in estimating the fair value of the grant under the ESPP which are derived using the same methodology applied to stock option assumptions: Nine Months Ended 2016 2015 Expected dividend yield — — Weighted-average assumed stock price volatility 58.9 % 38.8 % Weighted-average risk-free interest rate 0.4 % 0.1 % Weighted-average expected life (in years) 0.50 0.42
Restructuring and Related Costs	The following table presents the Company's severance expense recorded in the condensed consolidated statements of operations: Nine Months Ended September 30, 2016 Sales and marketing $ 772 Origination and servicing 1,174 Engineering and product development 134 Other general and administrative 650 Total severance expense $ 2,730

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 , were as follows: Minimum Rental Payments 2016 $ 3,661 2017 15,092 2018 16,053 2019 15,621 2020 16,523 Thereafter 57,201 Total $ 124,151

Basis of Presentation - Narrati

Basis of Presentation - Narrative (Details) - Subsequent Event $ in Millions	Nov. 07, 2016USD ($)
Subsequent Event [Line Items]
Approved additions	$ 1,300
Additions to be deployed in next three months	$ 325

Summary of Significant Accoun37

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2016	Apr. 01, 2016	Dec. 31, 2015
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Threshold for refund	5.00%
Maximum exposure	$ 6		$ 34.4
Related Party Fund
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Equity method investment	$ 10.1	$ 10
Ownership		15.00%
Related Party Fund | The Company, CEO, and Director
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership	29.00%
Related Party Fund | The Company And A Director
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Ownership	27.00%
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earnings Per Share [Abstract]
Net income (loss)	$ (36,486)	$ 950	$ (113,700)	$ (9,564)
Basic weighted average common shares outstanding (shares)	391,453,316	375,982,120	385,037,334	373,605,274
Diluted weighted average common shares outstanding (shares)	391,453,316	401,934,880	385,037,334	373,605,274
Net income (loss) per common share:
Basic ($ per share)	$ (0.09)	$ 0	$ (0.30)	$ (0.03)
Diluted ($ per share)	$ (0.09)	$ 0	$ (0.30)	$ (0.03)

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 278,910	$ 298,882
Gross Unrealized Gains	188	3
Gross Unrealized Losses	(149)	(1,674)
Securities available for sale:	278,949	297,211
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	190,008	217,243
Gross Unrealized Gains	128	2
Gross Unrealized Losses	(112)	(1,494)
Securities available for sale:	190,024	215,751
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	31,480	54,543
Gross Unrealized Gains	21	0
Gross Unrealized Losses	(2)	(134)
Securities available for sale:	31,499	54,409
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,603	16,602
Gross Unrealized Gains	17	1
Gross Unrealized Losses	0	(25)
Securities available for sale:	19,620	16,578
Certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	17,502
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Securities available for sale:	17,502
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	10,007
Gross Unrealized Gains	0
Gross Unrealized Losses	0
Securities available for sale:	10,007
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,492	3,489
Gross Unrealized Gains	22	0
Gross Unrealized Losses	0	(4)
Securities available for sale:	2,514	3,485
Other securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	7,818	7,005
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(35)	(17)
Securities available for sale:	$ 7,783	$ 6,988

Securities Available for Sale40

Securities Available for Sale - Continuous loss (Details) $ in Thousands	Sep. 30, 2016USD ($)position	Dec. 31, 2015USD ($)position
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 70,164	$ 291,478
Unrealized Losses, Less than 12 months	(56)	(1,674)
Fair Value, 12 months or longer	41,537	0
Unrealized Losses, 12 months or longer	(93)	0
Fair Value	111,701	291,478
Unrealized Losses	$ (149)	$ (1,674)
Number of positions with unrealized losses | position	63	141
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 64,078	$ 212,018
Unrealized Losses, Less than 12 months	(54)	(1,494)
Fair Value, 12 months or longer	34,921	0
Unrealized Losses, 12 months or longer	(58)	0
Fair Value	98,999	212,018
Unrealized Losses	(112)	(1,494)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	2,270	54,409
Unrealized Losses, Less than 12 months	(1)	(134)
Fair Value, 12 months or longer	2,648	0
Unrealized Losses, 12 months or longer	(1)	0
Fair Value	4,918	54,409
Unrealized Losses	(2)	(134)
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months		14,578
Unrealized Losses, Less than 12 months		(25)
Fair Value, 12 months or longer		0
Unrealized Losses, 12 months or longer		0
Fair Value		14,578
Unrealized Losses		(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	3,816	6,988
Unrealized Losses, Less than 12 months	(1)	(17)
Fair Value, 12 months or longer	3,968	0
Unrealized Losses, 12 months or longer	(34)	0
Fair Value	7,784	6,988
Unrealized Losses	$ (35)	$ (17)

Securities Available for Sale41

Securities Available for Sale - Maturities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016
Fair value
Within 1 year		$ 120,492
After 1 year through 5 years		158,457
After 5 years through 10 years		0
After 10 years		0
Total		278,949
Amortized cost
Within 1 year		120,515
After 1 year through 5 years		158,395
After 5 years through 10 years		0
After 10 years		0
Total		278,910
Proceeds	$ 63,200
Corporate debt securities
Fair value
Within 1 year		67,134
After 1 year through 5 years		122,890
After 5 years through 10 years		0
After 10 years		0
Total		190,024
Asset-backed securities
Fair value
Within 1 year		7,424
After 1 year through 5 years		24,075
After 5 years through 10 years		0
After 10 years		0
Total		31,499
U.S. agency securities
Fair value
Within 1 year		14,609
After 1 year through 5 years		5,011
After 5 years through 10 years		0
After 10 years		0
Total		19,620
Certificates of deposit
Fair value
Within 1 year		17,502
After 1 year through 5 years		0
After 5 years through 10 years		0
After 10 years		0
Total		17,502
Commercial paper
Fair value
Within 1 year		10,007
After 1 year through 5 years		0
After 5 years through 10 years		0
After 10 years		0
Total		10,007
U.S. Treasury securities
Fair value
Within 1 year		0
After 1 year through 5 years		2,514
After 5 years through 10 years		0
After 10 years		0
Total		2,514
Other securities
Fair value
Within 1 year		3,816
After 1 year through 5 years		3,967
After 5 years through 10 years		0
After 10 years		0
Total		$ 7,783

Loans, Loans Held For Sale, N42

Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	$ 34,200
Fair Value	4,411,626	$ 4,556,081
Fair Value	$ 4,419,911	$ 4,571,583
Maturity dates	2023-06	2020-12
Fair Value, Measurements, Recurring | Loans at Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	$ 4,677,055	$ 4,681,671
Fair value adjustments	(265,429)	(125,590)
Fair Value	4,411,626	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	4,684,038	4,697,169
Fair value adjustments	(264,127)	(125,586)
Fair Value	$ 4,419,911	$ 4,571,583
Minimum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and certificates term	12 months	12 months
Interest rates	3.54%	4.99%
Maximum
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and certificates term	84 months	60 months
Interest rates	31.89%	29.90%

Loans, Loans Held For Sale, N43

Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights - Past Due Table (Details) - Loans at Fair Value $ in Thousands	Sep. 30, 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	$ 42,643	$ 30,094
Outstanding principal balance, non-accrual loans	6,362	4,513
Net fair value adjustments, past 90 days due	(35,019)	(25,312)
Net fair value adjustments, non-accrual loans	(5,192)	(3,722)
Fair value, past 90 days due	7,624	4,782
Fair value, non-accrual loans	$ 1,170	$ 791
Number of loans, 90 days past due | Loan	3,620	2,606
Number of loans, non-accrual loans | Loan	562	382

Loans, Loans Held For Sale, N44

Loans, Loans Held For Sale, Notes and Certificates, and Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Principal amount of loan before fair value adjustment	$ 34,200
Loans funded by the company	33,000
Loans held for sale	$ 14,744
Nonaccrual policy	120 days
Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Charge-off policy	120 days
Notes and certificates term	12 months	12 months
Interest rates	3.54%	4.99%
Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Charge-off policy	150 days
Notes and certificates term	84 months	60 months
Interest rates	31.89%	29.90%
Loan Servicing Rights
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Principal balance of underlying loan servicing rights	$ 6,240,000	$ 4,290,000
Payment frequency for the debt instrument	monthly	monthly
Debt instrument, maturity date, description	May 2,023	December 2,022
Loan Servicing Rights | Minimum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	12 months	3 months
Interest rates	2.99%	2.99%
Loan Servicing Rights | Maximum
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Notes and certificates term	84 months	84 months
Interest rates	33.15%	33.15%

Fair Value of Assets and Liab45

Fair Value of Assets and Liabilities - Loans, Loan Servicing Rights, Related Notes and Certificates (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	$ 4,411,626	$ 4,556,081
Loans held for sale	14,744
Securities available for sale:	278,949	297,211
Servicing assets	16,255	10,250
Total assets	4,721,574	4,863,542
Notes and certificates	4,419,911	4,571,583
Servicing liabilities	3,397	3,973
Loan Trailing Fee liability	3,724
Total liabilities	4,427,032	4,575,556
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	190,024	215,751
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	31,499	54,409
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	19,620	16,578
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	17,502
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	10,007
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	2,514	3,485
Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	7,783	6,988
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Loans held for sale	0
Securities available for sale:	0	0
Servicing assets	0	0
Total assets	0	0
Notes and certificates	0	0
Servicing liabilities	0	0
Loan Trailing Fee liability	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 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0
Level 1 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	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
Loans held for sale	0
Securities available for sale:	278,949	297,211
Servicing assets	0	0
Total assets	278,949	297,211
Notes and certificates	0	0
Servicing liabilities	0	0
Loan Trailing Fee liability	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:	190,024	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:	31,499	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:	19,620	16,578
Level 2 Inputs | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	17,502
Level 2 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	10,007
Level 2 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	2,514	3,485
Level 2 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	7,783	6,988
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	4,411,626	4,556,081
Loans held for sale	14,744
Securities available for sale:	0	0
Servicing assets	16,255	10,250
Total assets	4,442,625	4,566,331
Notes and certificates	4,419,911	4,571,583
Servicing liabilities	3,397	3,973
Loan Trailing Fee liability	3,724
Total liabilities	4,427,032	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 | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0
Level 3 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	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) - Level 3 Inputs	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Minimum | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	2.20%	3.50%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	8.00%
Total market servicing rate	0.63%	0.50%
Maximum | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	15.90%	16.30%
Net cumulative expected loss rates	32.60%	22.00%
Cumulative prepayment rates	39.90%	36.40%
Total market servicing rate	0.90%	0.75%
Weighted- Average | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	7.90%	9.40%
Net cumulative expected loss rates	12.20%	8.80%
Cumulative prepayment rates	30.80%	30.50%
Total market servicing rate	0.63%	0.50%
Ancillary fee		0.07%
Loans, notes and certificates | Minimum
Fair Value Inputs [Abstract]
Discount rates	0.70%	2.90%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	23.40%
Loans, notes and certificates | Maximum
Fair Value Inputs [Abstract]
Discount rates	16.50%	17.50%
Net cumulative expected loss rates	32.60%	22.00%
Cumulative prepayment rates	39.90%	36.40%
Loans, notes and certificates | Weighted- Average
Fair Value Inputs [Abstract]
Discount rates	7.40%	9.00%
Net cumulative expected loss rates	13.90%	9.90%
Cumulative prepayment rates	30.80%	30.80%
Trailing Fee Liability | Minimum
Fair Value Inputs [Abstract]
Discount rates	2.20%
Net cumulative expected loss rates	0.30%
Cumulative prepayment rates	8.00%
Trailing Fee Liability | Maximum
Fair Value Inputs [Abstract]
Discount rates	15.90%
Net cumulative expected loss rates	32.60%
Cumulative prepayment rates	39.90%
Trailing Fee Liability | Weighted- Average
Fair Value Inputs [Abstract]
Discount rates	7.70%
Net cumulative expected loss rates	12.90%
Cumulative prepayment rates	30.40%

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		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Notes and Certificates
Held-for-sale, fair value	$ 14,744		$ 14,744
Principal amount of loan before fair value adjustment	34,200		34,200
Fair Value	4,411,626		4,411,626		$ 4,556,081
Loans Notes And Certificates
Loans
Outstanding Principal Balance, Beginning	4,765,258	$ 3,694,823	4,681,671	$ 2,836,729	2,836,729
Valuation Adjustment, Beginning	(341,087)	(57,440)	(125,590)	(38,224)	(38,224)
Fair Value, Beginning	4,424,171	3,637,383	4,556,081	2,798,505	2,798,505
Outstanding Principal Balance, Purchases of loans	1,740,531	1,946,455	5,739,419	5,075,044
Valuation Adjustment, Purchases of loans	0	0	0	0
Fair Value, Purchases of loans	1,740,531	1,946,455	5,739,419	5,075,044
Outstanding Principal Balance, Issuances of notes and certificates	0	0	0	0
Valuation Adjustment, Issuances of notes and certificates	0	0	0	0
Fair Value, Issuances of notes and certificates	0	0	0	0
Outstanding Principal Balance, Whole loan sales	(1,095,717)	(954,770)	(3,657,604)	(2,338,346)
Valuation Adjustment, Whole loan sales	0	0	0	0
Fair Value, Whole loan sales	(1,095,717)	(954,770)	(3,657,604)	(2,338,346)
Outstanding Principal Balance, Principal payments	(605,595)	(481,701)	(1,786,623)	(1,280,005)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments	(605,595)	(481,701)	(1,786,623)	(1,280,005)
Outstanding Principal Balance, Charge-offs	(112,517)	(55,365)	(284,903)	(143,980)
Valuation Adjustment, Charge-offs	112,517	55,365	284,903	143,980
Fair Value, Charge-offs	0	0	0	0
Outstanding Principal Balance, Recoveries	0	0	0	0
Valuation Adjustment, Recoveries	(10,517)	(5,919)	(27,451)	(13,729)
Fair Value, Recoveries	(10,517)	(5,919)	(27,451)	(13,729)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(26,503)	(72,474)	(397,452)	(172,495)
Fair Value, Change in fair value recorded in earnings	(26,503)	(72,474)	(397,452)	(172,495)
Outstanding Principal Balance, Ending	4,691,960	4,149,442	4,691,960	4,149,442	4,681,671
Valuation Adjustment, Ending	(265,590)	(80,468)	(265,590)	(80,468)	(125,590)
Fair Value, Ending	4,426,370	4,068,974	4,426,370	4,068,974	4,556,081
Notes and Certificates
Outstanding Principal Balance, Beginning	4,755,846	3,717,556	4,697,169	2,851,837	2,851,837
Valuation Adjustment, Beginning	(339,961)	(57,432)	(125,586)	(38,219)	(38,219)
Fair value at beginning of period	4,415,885	3,660,124	4,571,583	2,813,618	2,813,618
Outstanding Principal Balance, Purchases of loans	0	0	0	0
Valuation Adjustment, Purchases of loans	0	0	0	0
Fair Value, Purchases of loans	0	0	0	0
Outstanding Principal Balance, Issuances of notes and certificates	641,242	991,926	2,041,746	2,736,667
Valuation Adjustment, Issuances of notes and certificates	0	0	0	0
Fair Value, Issuances of notes and certificates	641,242	991,926	2,041,746	2,736,667
Outstanding Principal Balance, Whole loan sales	0	0	0	0
Valuation Adjustment, Whole loan sales	0	0	0	0
Fair Value, Whole loan sales	0	0	0	0
Outstanding Principal Balance, Principal payments	(601,234)	(478,189)	(1,770,779)	(1,268,622)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments	(601,234)	(478,189)	(1,770,779)	(1,268,622)
Outstanding Principal Balance, Charge-offs	(111,816)	(55,346)	(284,098)	(143,935)
Valuation Adjustment, Charge-offs	111,816	55,346	284,098	143,935
Fair Value, Charge-offs	0	0	0	0
Outstanding Principal Balance, Recoveries	0	0	0	0
Valuation Adjustment, Recoveries	(9,955)	(5,867)	(26,871)	(13,653)
Fair Value, Recoveries	(9,955)	(5,867)	(26,871)	(13,653)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(26,027)	(72,513)	(395,768)	(172,529)
Fair Value, Change in fair value recorded in earnings	(26,027)	(72,513)	(395,768)	(172,529)
Outstanding Principal Balance, Ending	4,684,038	4,175,947	4,684,038	4,175,947	4,697,169
Valuation Adjustment, Ending	(264,127)	(80,466)	(264,127)	(80,466)	(125,586)
Fair value at end of period	4,419,911	$ 4,095,481	4,419,911	$ 4,095,481	$ 4,571,583
Held-for-sale, principal	14,905		14,905
Held-for-sale, adjustment	(161)		(161)
Held-for-sale, fair value	14,744		14,744
Principal amount of loan before fair value adjustment	4,677,055		4,677,055
Held at fair value, adjustment	(265,429)		(265,429)
Fair Value	$ 4,411,626		$ 4,411,626

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period			$ 10,250
Fair value at end of period	$ 16,255		16,255
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period			3,973
Fair value at end of period	3,397		3,397
Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	16,126	$ 5,225	10,250	$ 2,181
Issuances	3,009	3,092	12,984	6,476
Changes in fair value, included in servicing fees	(2,429)	(1,436)	(7,092)	(2,467)
Other net changes included in deferred revenue	(451)	368	113	1,059
Fair value at end of period	16,255	7,249	16,255	7,249
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	3,412	4,831	3,973	3,973
Issuances	712	1,402	2,452	4,340
Change in fair value, included in servicing fees	(727)	(1,839)	(3,028)	(3,919)
Other net changes included in deferred revenue	0	0	0	0
Fair value at end of period	$ 3,397	$ 4,394	$ 3,397	$ 4,394

Fair Value of Assets and Liab49

Fair Value of Assets and Liabilities - Trailing Fee Liability (Details) - Trailing Fee Liability - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 2,324	$ 0
Issuances	1,682	4,180
Cash payment of Loan Trailing Fee	(395)	(585)
Change in fair value, included in origination and servicing	113	129
Fair value at end of period	$ 3,724	$ 3,724

Fair Value of Assets and Liab50

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	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average total market servicing rate assumptions	0.63%	0.50%
Assets, servicing rate increase by .1%	$ (4,931)	$ (3,504)
Assets, servicing rate decrease by .1%	$ 5,347	$ 3,610
Change in rate	0.10%
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average total market servicing rate assumptions	0.63%	0.50%
Liabilities, servicing rate increase by .1%	$ 1,410	$ 1,589
Liabilities, servicing rate decrease by .1%	$ (994)	$ (1,483)
Servicing asset/liability | Level 3 Inputs | Weighted- Average
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average total market servicing rate assumptions		0.57%
Ancillary fee		0.07%

Fair Value of Assets and Liab51

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 4,721,574	$ 4,863,542
Total liabilities	4,427,032	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	278,949	297,211
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,442,625	4,566,331
Total liabilities	4,427,032	4,575,556
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	520,767	623,531
Restricted cash	139,455	80,733
Servicer reserve receivable	2,565
Deposits	865	871
Goodwill	35,633
Total assets	699,285	705,135
Accrued expenses and other liabilities	6,051
Accounts payable	7,651	5,542
Payables to investors	81,376	73,162
Total liabilities	95,078	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
Servicer reserve receivable	0
Deposits	0	0
Goodwill	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	520,767	623,531
Restricted cash	139,455	80,733
Servicer reserve receivable	2,565
Deposits	865	871
Goodwill	0
Total assets	663,652	705,135
Accrued expenses and other liabilities	0
Accounts payable	7,651	5,542
Payables to investors	81,376	73,162
Total liabilities	89,027	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
Servicer reserve receivable	0
Deposits	0	0
Goodwill	35,633
Total assets	35,633	0
Accrued expenses and other liabilities	6,051
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	6,051	0
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	520,767	623,531
Restricted cash	139,455	80,733
Servicer reserve receivable	2,565
Deposits	865	871
Goodwill	35,633
Total assets	699,285	705,135
Accrued expenses and other liabilities	6,051
Accounts payable	7,651	5,542
Payables to investors	81,376	73,162
Total liabilities	$ 95,078	$ 78,704

Property, Equipment and Softw52

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Abstract]
Internally developed software	$ 69,739	$ 40,709
Computer equipment	16,965	14,076
Leasehold improvements	18,382	11,559
Purchased software	7,615	5,336
Furniture and fixtures	6,394	5,086
Construction in progress	4,526	2,870
Total property, equipment and software	123,621	79,636
Accumulated depreciation and amortization	(41,065)	(23,706)
Total property, equipment and software, net	$ 82,556	$ 55,930

Property, Equipment and Softw53

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 21,374	$ 15,525
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 6,500	$ 4,500	$ 17,800	$ 11,400

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Other Assets [Abstract]
Other assets	$ 55,833	$ 38,413
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets	16,255	10,250
Prepaid expenses
Other Assets [Abstract]
Other assets	14,704	16,283
Other investments
Other Assets [Abstract]
Other assets	10,329	250
Accounts receivable
Other Assets [Abstract]
Other assets	6,719	4,976
Servicer reserve receivable
Other Assets [Abstract]
Other assets	2,565	0
Receivable from investors
Other Assets [Abstract]
Other assets	1,279	1,117
Deferred financing cost
Other Assets [Abstract]
Other assets	1,097	1,296
Deferred Acquisition Compensation
Other Assets [Abstract]
Other assets	642	1,521
Due From Related Parties
Other Assets [Abstract]
Other assets	535	655
Deposits
Other Assets [Abstract]
Other assets	865	871
Tenant improvement receivable
Other Assets [Abstract]
Other assets	181	778
Other
Other Assets [Abstract]
Other assets	$ 662	$ 416

Intangible Assets and Goodwill

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($)	3 Months Ended				9 Months Ended
	Sep. 30, 2016		Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	$ 27,373,000				$ 27,373,000		$ 30,971,000
Amortization expense	1,200,000			$ 1,300,000	3,600,000	$ 4,100,000
Goodwill impairment	$ 1,650,000	[1]	$ 35,400,000	$ 0	$ 37,050,000	$ 0
[1]	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1 – Basis of Presentation” for additional information.

Accrued Expenses and Other Li56

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Payables and Accruals [Abstract]
Accrued expenses	$ 18,491	$ 14,054
Accrued compensation	25,709	28,780
Investor incentives payable	529	0
Deferred rent	8,489	4,615
Transaction fee refund reserve	6,860	578
Deferred revenue	2,665	2,551
Loan servicing liabilities, at fair value	3,397	3,973
Loan Trailing Fee liability, at fair value	3,724	0
Payable to issuing banks	3,454	955
Deferred tax liability	0	3,446
Early stock option exercise and other equity-related liabilities	51	83
Contingent liabilities	0	700
Reimbursement payable to limited partners of private funds	1,013	0
Other	3,795	1,508
Total accrued expenses and other liabilities	$ 78,177	$ 61,243

Accumulated Other Comprehensi57

Accumulated Other Comprehensive Income (Loss) - Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Equity [Abstract]
Change in net unrealized gain (loss) on securities available for sale	$ 111	$ (341)	$ 1,710	$ (1,172)
Tax Effect, Change in net unrealized loss on securities available for sale	46	0	696	0
Net of Tax, Change in net unrealized loss on securities available for sale	65	(341)	1,014	(1,172)
Other comprehensive loss, before tax	111	(341)	1,710	(1,172)
Income tax effect	46	0	696	0
Other comprehensive income (loss), net of tax	$ 65	$ (341)	$ 1,014	$ (1,172)

Accumulated Other Comprehensi58

Accumulated Other Comprehensive Income (Loss) - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 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	$ 65	$ (341)	1,014	$ (1,172)
Balance at September 30, 2016	$ (657)		$ (657)

Secured Borrowings (Details)

Secured Borrowings (Details) - USD ($)	3 Months Ended	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Mar. 31, 2016
Receivables [Abstract]
Repurchased near-prime loans	$ 22,300,000	$ 22,274,000	$ 0
Secured borrowings - amount originally sold to investor	$ 0	$ 0		$ 15,100,000

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 17,922	$ 13,479	$ 46,390	$ 37,558
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,699	2,283	5,016	5,504
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,013	662	2,722	1,987
Engineering and product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,931	3,145	13,134	7,886
Other general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,279	7,389	25,518	22,181
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	11,143	3,037	25,044	5,262
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6,208	8,101	17,632	23,314
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	438	491	1,273	1,416
Stock issued related to acquisition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 133	$ 1,850	$ 2,441	$ 7,566

Employee Incentive and Retire61

Employee Incentive and Retirement Plans - Additional Information (Detail)	Jun. 22, 2016position	Feb. 09, 2016USD ($)	Sep. 30, 2016USD ($)shares	Jun. 30, 2016USD ($)shares	Mar. 31, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)shares	Sep. 30, 2016USD ($)EquityPlan$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Tax benefit (deficiency) from stock based compensation			$ 0			$ 0	$ (62,000)	$ 0
Outstanding (shares) | shares			32,962,938				32,962,938		48,208,911
Option granted to purchase of common stock (shares) | shares							7,482,011
Options granted, weighted average exercise price ($ per share) | $ / shares							$ 7.22
Total intrinsic values of options exercised							$ 71,000,000	75,300,000
Total fair value of shares vested							$ 25,400,000	$ 26,000,000
Stock purchased by employees (shares) | shares			0			211,256	721,918	211,256
Repurchased (shares) | shares			0	0	2,282,720
Expected percentage of workforce to be reduced	12.00%
Severance Costs			$ 0	$ 2,700,000		$ 0	$ 2,730,000	$ 0
Employee Severance
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Payments for restructuring			2,600,000	100,000
Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected number of positions to be reduced | position	179
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			800,000			500,000	$ 3,200,000	$ 1,500,000
Share Repurchase
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized repurchase		$ 150,000,000
Authorized repurchase period		1 year
Repurchased ($ per share) | $ / shares					$ 8.52
Repurchased					$ 19,500,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost expected period for recognition							3 years 3 months 19 days
RSUs granted (shares) | shares							35,556,344
Aggregate fair value							$ 217,700,000
Unrecognized compensation cost			212,500,000				$ 212,500,000
Stock Options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Option granted to purchase of common stock (shares) | shares								1,164,929
Options granted, weighted average exercise price ($ per share) | $ / shares								$ 20
Common stock, weighted average grant date fair value per share ($ per share) | $ / shares							$ 3.61	$ 9.80
Options granted, total estimated fair value							$ 27,000,000	$ 11,400,000
Unrecognized compensation cost			$ 50,400,000				$ 50,400,000
Unrecognized compensation cost expected period for recognition							2 years 6 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
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			6,195,036				6,195,036
Requisite service period							6 months
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			26,642,089				26,642,089
Equity Incentive Plan Twenty Fourteen
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Available for grant (shares) | shares			26,525,701				26,525,701
Internally Developed Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount			$ 2,200,000			$ 1,300,000	$ 6,200,000	$ 3,100,000
Executive Management And Key Personnel
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Cash				18,600,000
Executive Management And Key Personnel | RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share awards				$ 16,300,000

Employee Incentive and Retire62

Employee Incentive and Retirement Plans - Options Activity Under Option Plan (Detail) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 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	7,482,011
Options Exercised, Number of Shares | shares	(14,041,282)
Options Forfeited/Expired, Number of Shares | shares	(8,686,702)
Balances, ending balance, Number of Shares | shares	32,962,938
Vested and expected to vest, Number of Shares | shares	32,837,306
Exercisable, Number of Shares | shares	19,488,544
Balances, beginning balance, Weighted Average Exercise Price Per Share	$ 3.60
Options Granted, Weighted Average Exercise Price Per Share	7.22
Options Exercised, Weighted Average Exercise Price Per Share	0.78
Options Forfeited/Expired, Weighted Average Exercise Price Per Share	6.61
Balances, ending balance, Weighted Average Exercise Price Per Share	4.83
Vested and expected to vest, Weighted Average Exercise Price Per Share	4.83
Exercisable, Weighted Average Exercise Per Share	$ 3.52
Outstanding, Weighted Average Remaining Contractual Life	7 years
Vested and expected to vest, Weighted Average Remaining Contractual Life	7 years
Exercisable, Weighted Average Remaining Contractual Life	6 years 1 month 4 days
Outstanding, Aggregate Intrinsic Value | $	$ 81,007
Vested and expected to vest, Aggregate Intrinsic Value | $	80,920
Exercisable, Aggregate Intrinsic Value | $	$ 67,646
Share price ($ per share)	$ 6.18

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Weighted-average assumed stock price volatility	51.00%	48.70%	51.60%	49.40%
Weighted-average risk-free rate	1.28%	1.67%	1.34%	1.61%
Weighted-average expected life (in years)	6 years 3 months	6 years 3 months 1 day	6 years 1 month 25 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	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Number of Shares (shares)
Unvested, beginning (shares) | shares	4,443,399
RSUs granted (shares) | shares	35,556,344
RSUs vested (shares) | shares	(1,917,809)
RSUs forfeited/expired (shares) | shares	(4,003,552)
Unvested, ending (shares) | shares	34,078,382
Expected to vest (shares) | shares	33,386,970
Weighted- Average Grant Date Fair Value ($ per share)
Unvested, beginning ($ per share) | $ / shares	$ 15.23
RSUs granted ($ per share) | $ / shares	6.12
RSUs vested ($ per share) | $ / shares	11.44
RSUs forfeited/expired ($ per share) | $ / shares	9.13
Unvested, ending ($ per share) | $ / shares	6.66
Expected to vest ($ per share) | $ / shares	$ 9.47

Employee Incentive and Retire65

Employee Incentive and Retirement Plans - Black-Scholes Inputs for Employee Stock Purchase Plan (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield	0.00%	0.00%	0.00%	0.00%
Weighted-average assumed stock price volatility	51.00%	48.70%	51.60%	49.40%
Weighted-average risk-free rate	1.28%	1.67%	1.34%	1.61%
Weighted-average expected life (in years)	6 years 3 months	6 years 3 months 1 day	6 years 1 month 25 days	6 years 3 months 1 day
Available for ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected dividend yield			0.00%	0.00%
Weighted-average assumed stock price volatility			58.90%	38.80%
Weighted-average risk-free rate			0.40%	0.10%
Weighted-average expected life (in years)			6 months	5 months 1 day

Employee Incentive and Retire66

Employee Incentive and Retirement Plans - Restructuring (Details) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restructuring Cost and Reserve [Line Items]
Total severance expense	$ 0	$ 2,700,000	$ 0	$ 2,730,000	$ 0
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Total severance expense				772,000
Origination and servicing
Restructuring Cost and Reserve [Line Items]
Total severance expense				1,174,000
Engineering and product development
Restructuring Cost and Reserve [Line Items]
Total severance expense				134,000
Other general and administrative
Restructuring Cost and Reserve [Line Items]
Total severance expense				$ 650,000

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (209)	$ 1,233	$ (4,004)	$ 2,249
Valuation allowance	$ 35,400		$ 35,400		$ 25,300

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) ft² in Thousands	1 Months Ended	3 Months Ended			9 Months Ended
	Apr. 30, 2015ft²renewal_option	Sep. 30, 2016USD ($)ft²	Jun. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²lawsuit	Sep. 30, 2015USD ($)	Nov. 09, 2016USD ($)	Dec. 31, 2015USD ($)
Commitments and Contingencies [Line Items]
Lease agreement renewal term	5 years
Number of renewal terms | renewal_option	2
Rental expense		$ 3,700,000		$ 2,000,000	$ 10,500,000	$ 5,000,000
Minimum rent payments		3,400,000		$ 1,500,000	8,300,000	$ 4,100,000
Security deposit - cash		800,000			800,000
Security deposit - letters of credit		4,700,000			4,700,000
Payments due in 2016		3,661,000			3,661,000
Payments due in 2017		15,092,000			15,092,000
Payments due in 2018		16,053,000			16,053,000
Payments due in 2019		15,621,000			15,621,000
Payments due in 2020		16,523,000			16,523,000
Payments due thereafter		57,201,000			57,201,000
Total payments due		124,151,000			$ 124,151,000
Loan purchase obligation period					2 days
Contingent loan purchase commitment limit		55,500,000			$ 55,500,000			$ 77,600,000
Commitment repurchases					39,500,000
Loan commitment purchases		400,000	$ 134,900,000
Loan purchases to support market equilibrium			$ 99,500,000
Loans		34,200,000			34,200,000
Deposit					9,000,000
Pledged and restricted to support contingent obligation		3,400,000			3,400,000
Maximum exposure		$ 6,000,000			$ 6,000,000			$ 34,400,000
Number of lawsuits | lawsuit					5
San Francisco
Commitments and Contingencies [Line Items]
Area of property (square feet) | ft²	112	169			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			26
Subsequent Event
Commitments and Contingencies [Line Items]
Remaining limit of contingent loan purchase commitment							$ 0

Segment Reporting (Details)

Segment Reporting (Details)	9 Months Ended
	Sep. 30, 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 ($)	9 Months Ended
	Sep. 30, 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	212,000,000
Related Party Fund | Affiliated Entity
Related Party Transaction [Line Items]
Expense	6,200,000
Related Party Fund | Servicing Fees | Affiliated Entity
Related Party Transaction [Line Items]
Income	1,300,000
Related Party Fund | Management Fees | Affiliated Entity
Related Party Transaction [Line Items]
Income	51,000
Related Party Fund
Related Party Transaction [Line Items]
Ownership		15.00%
Equity method investment	$ 10,100,000	$ 10,000,000
Related Party Fund | Chief Executive Officer
Related Party Transaction [Line Items]
Ownership			2.00%
Related Party Fund | Director
Related Party Transaction [Line Items]
Ownership			10.00%
Related Party Fund | The Company, CEO, and Director
Related Party Transaction [Line Items]
Ownership	29.00%
Related Party Fund | The Company And A Director
Related Party Transaction [Line Items]
Ownership	27.00%