LendingClub (LC) 10-Q 5 May 17 2017 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2017	Apr. 28, 2017
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2017
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q1
Trading Symbol	LC
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		403,859,898

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Assets
Cash and cash equivalents	$ 534,451	$ 515,602
Restricted cash	148,890	177,810
Securities available for sale at fair value	246,940	287,137
Loans at fair value (includes $2,351,103 and $2,600,422 from consolidated trust, respectively)	4,026,755	4,311,984
Loans held for sale at fair value	9,409	9,048
Accrued interest receivable (includes $20,570 and $24,037 from consolidated trust, respectively)	35,644	40,299
Property, equipment and software, net	92,290	89,263
Intangible assets, net	25,049	26,211
Goodwill	35,633	35,633
Other assets	77,079	69,644
Total assets	5,232,140	5,562,631
Liabilities and Stockholders’ Equity
Accounts payable	7,470	10,889
Accrued interest payable (includes $22,994 and $26,839 from consolidated trust, respectively)	38,422	43,574
Accrued expenses and other liabilities	83,338	85,619
Payable to investors	96,131	125,884
Notes and certificates at fair value (includes $2,364,563 and $2,616,023 from consolidated trust, respectively)	4,034,357	4,320,895
Total liabilities	4,259,718	4,586,861
Stockholders’ Equity
Common stock, $0.01 par value; 900,000,000 shares authorized; 405,126,913 and 400,262,472 shares issued, respectively; 402,844,213 and 397,979,772 shares outstanding, respectively	4,051	4,003
Additional paid-in capital	1,253,910	1,226,206
Accumulated deficit	(265,428)	(234,187)
Treasury stock, at cost; 2,282,700 shares	(19,485)	(19,485)
Accumulated other comprehensive loss	(626)	(767)
Total stockholders’ equity	972,422	975,770
Total liabilities and stockholders’ equity	$ 5,232,140	$ 5,562,631

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Member Loans at fair value, from consolidated trust	$ 4,026,755	$ 4,311,984
Accrued interest receivable from consolidated Trust	35,644	40,299
Accrued interest payable from consolidated Trust	38,422	43,574
Notes and certificates, at fair value from consolidated Trust	$ 4,034,357	$ 4,320,895
Common stock, par value ($ per share)	$ 0.01	$ 0.01
Common stock, shares authorized	900,000,000	900,000,000
Common stock, shares issued	405,126,913	400,262,472
Common stock, shares outstanding	402,844,213	397,979,772
Treasury stock, shares	2,282,700	2,282,700
Consolidated Trust
Member Loans at fair value, from consolidated trust	$ 2,351,103	$ 2,600,422
Accrued interest receivable from consolidated Trust	20,570	24,037
Accrued interest payable from consolidated Trust	22,994	26,839
Notes and certificates, at fair value from consolidated Trust	$ 2,364,563	$ 2,616,023

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended
		Mar. 31, 2017	Mar. 31, 2016
Income Statement [Abstract]
Transaction fees		$ 98,692	$ 124,508
Investor fees	[1]	21,180	20,487
Other revenue (expense)	[1]	2,221	6,103
Other revenue (expense)
Total interest income		160,996	177,879
Total interest expense		(158,607)	(176,683)
Net interest income		2,389	1,196
Total net revenue		124,482	152,294
Operating expenses:
Sales and marketing		54,583	66,575
Origination and servicing		20,449	19,198
Engineering and product development		35,760	24,198
Other general and administrative		43,574	38,035
Total operating expenses		154,366	148,006
Income (loss) before income tax expense		(29,884)	4,288
Income tax (benefit) expense		(40)	151
Net income (loss)		$ (29,844)	$ 4,137
Net income(loss) per share: Basic ($ per share)		$ (0.07)	$ 0.01
Net income(loss) per share: Diluted ($ per share)		$ (0.07)	$ 0.01
Weighted-average common shares - Diluted (shares)		400,308,521	380,266,636
Weighted-average common shares - Basic (shares)		400,308,521	392,397,825
[1]	Prior period amounts have been reclassified to conform to the current period presentation. See “Note 1 – Basis of Presentation” for additional information.

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (29,844)	$ 4,137
Other Comprehensive Income (Loss), before Tax [Abstract]
Change in net unrealized gain (loss) on securities available for sale	236	803
Other comprehensive income (loss), before tax	236	803
Income tax effect	95	0
Other comprehensive income (loss), net of tax	141	803
Comprehensive income (loss)	$ (29,703)	$ 4,940

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Cash Flows from Operating Activities:
Net income (loss)	$ (29,844)	$ 4,137
Adjustments to reconcile net income (loss) to net cash (used for) provided by operating activities:
Net fair value adjustments of loans, loans held for sale, notes and certificates	1,417	167
Change in fair value of loan servicing liabilities	(809)	(2,078)
Change in fair value of loan servicing assets	4,047	(232)
Stock-based compensation, net	19,498	15,021
Excess tax benefit from share-based awards	0	(39)
Depreciation and amortization	10,254	6,655
Gain on sales of loans	(5,043)	(4,699)
Other, net	352	30
Purchase of loans held for sale	(1,176,154)	(1,308,463)
Principal payments received on loans held for sale	892	0
Proceeds from sales of whole loans	1,172,161	1,308,463
Net change in operating assets and liabilities:
Accrued interest receivable	4,655	(1,027)
Other assets	(6,452)	657
Due from related parties	71	(242)
Accounts payable	(3,833)	(123)
Accrued interest payable	(5,152)	1,393
Accrued expenses and other liabilities	(3,178)	(9,679)
Net cash (used for) provided by operating activities	(17,118)	9,941
Cash Flows from Investing Activities:
Purchases of loans	(524,412)	(921,825)
Principal payments received on loans	640,006	586,159
Proceeds from recoveries and sales of charged-off loans	10,889	10,191
Proceeds from sales of whole loans	2,118	0
Purchases of securities available for sale	(26,430)	(3,661)
Proceeds from maturities of securities available for sale	66,817	17,374
Investment in Cirrix Capital	0	(10,000)
Net change in restricted cash	28,920	(23,752)
Purchases of property, equipment and software, net	(7,908)	(10,483)
Net cash provided by (used for) investing activities	190,000	(355,997)
Cash Flows from Financing Activities:
Change in payable to investors	(29,753)	(1,245)
Proceeds from issuances of notes and certificates	523,305	901,258
Proceeds from secured borrowings	0	15,113
Principal payments and retirements of notes and certificates	(641,103)	(583,982)
Payments on notes and certificates from recoveries/sales of related charged-off loans	(10,790)	(10,177)
Repurchase of common stock	0	(19,485)
Proceeds from stock option exercises and other	4,308	4,846
Excess tax benefit from share-based awards	0	39
Net cash (used for) provided by financing activities	(154,033)	306,367
Net Increase (Decrease) in Cash and Cash Equivalents	18,849	(39,689)
Cash and Cash Equivalents, Beginning of Period	515,602	623,531
Cash and Cash Equivalents, End of Period	534,451	583,842
Supplemental Cash Flow Information:
Cash paid for interest	163,692	175,224
Accruals for property, equipment and software	$ 905	$ 4,286

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2017
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. 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 and contain all adjustments, consisting of only normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. These accounting principles require management to make certain estimates and assumptions that affect the amounts in the accompanying financial statements. Actual results may differ from those estimates, 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 first quarter of 2017, the Company simplified the presentation of “Total net revenue” in the unaudited Condensed Consolidated Statements of Operations to present revenues from transactions with investors as a single line item “Investor fees” by aggregating the revenues previously reported as “Servicing fees” and “Management fees.” Additionally, the Company aggregated “Fair value adjustments - loans, loans held for sale, notes and certificates” into “Other revenue (expense).” These changes had no impact to “Total net revenue.” Prior period amounts have been reclassified to conform to the current period 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, 2016 (Annual Report) filed on February 28, 2017.

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2017
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 period ended March 31, 2017 . Adoption of New Accounting Standards The Company adopted the following accounting standards during the period ended March 31, 2017 : Accounting Standards Update (ASU) 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09), simplifies the accounting for employee share-based payment transactions, including the associated accounting for income taxes, forfeitures, and classification in the statement of cash flows. The Company adopted ASU 2016-09 effective January 1, 2017, under the modified retrospective method with the cumulative effect of adoption recorded as a reclassification to 2017 beginning accumulated deficit. The Company also elected to present the change in presentation in the Statement of Cash Flows related to excess tax benefits prospectively and, therefore, prior period amounts have not been adjusted. Under ASU 2016-09, the Company now recognizes the excess income tax benefits or deficiencies from stock-based compensation in the income tax provision in the Consolidated Statements of Operations, and as an operating activity in the Consolidated Statements of Cash Flows. Additionally, excess tax benefits and tax deficiencies are now excluded from the calculation of assumed proceeds using the treasury stock method when computing fully diluted earnings per share. The Company recognized a $56.5 million deferred tax asset with a full valuation allowance (net zero impact upon adoption) in the Consolidated Balance Sheet for the excess income tax benefits from stock-based compensation as of January 1, 2017. The Company also elected to recognize forfeitures as they occur for equity awards with only a service condition, rather than estimate expected forfeitures, as permitted by ASU 2016-09. The Company recorded a $1.4 million reclassification to 2017 beginning accumulated deficit to remove the estimate of forfeitures as of January 1, 2017. ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment, simplifies the accounting for goodwill impairments by eliminating Step 2 of the goodwill impairment test. Under ASU 2017-04, a goodwill impairment loss is now measured as the amount by which the carrying amount of a reporting unit exceeds its fair value. The Company elected to early adopt ASU 2017-04 effective January 1, 2017. The adoption did not have an effect on the Company's condensed consolidated financial statements for the period ended March 31, 2017 . New Accounting Standards Not Yet Adopted Updates to the new accounting standards not yet adopted as disclosed in the Company’s Annual Report for the year ended December 31, 2016 are as follows: 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 the amendments is the same as for ASU 2014-09. The Company plans to adopt the revenue recognition guidance beginning January 1, 2018 and currently anticipates using the modified retrospective method of adoption. However, the adoption method to be used is subject to completion of the Company’s impact assessment. We have preliminarily determined the revenue streams that are in the scope and have begun reviewing our revenue contracts to identify any changes in the timing of revenue recognition, presentation of certain revenue streams as gross versus net reporting, and the capitalization of contract costs. The assessment of applying Topic 606 is ongoing and, therefore, the Company has not yet determined whether those impacts will be material to the Company’s consolidated financial statements. No new accounting standards that are applicable to the Company were issued after the filing of the Company's Annual Report for the year ended December 31, 2016.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	3 Months Ended
	Mar. 31, 2017
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	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 2017 2016 Net income (loss) $ (29,844 ) $ 4,137 Weighted average common shares - Basic 400,308,521 380,266,636 Weighted average common shares - Diluted 400,308,521 392,397,825 Net income (loss) per share: Basic $ (0.07 ) $ 0.01 Diluted $ (0.07 ) $ 0.01

Securities Available for Sale

Securities Available for Sale	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 and December 31, 2016 , were as follows: March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 167,115 $ 173 $ (101 ) $ 167,187 Asset-backed securities 20,097 1 (4 ) 20,094 U.S. agency securities 19,601 20 — 19,621 Certificates of deposit 17,000 — — 17,000 Commercial paper 15,551 — — 15,551 U.S. Treasury securities 2,494 1 — 2,495 Other securities 5,002 — (10 ) 4,992 Total securities available for sale $ 246,860 $ 195 $ (115 ) $ 246,940 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 181,359 $ 63 $ (199 ) $ 181,223 Certificates of deposit 27,501 — — 27,501 Asset-backed securities 25,369 4 (9 ) 25,364 Commercial paper 20,164 — — 20,164 U.S. agency securities 19,602 21 — 19,623 U.S. Treasury securities 2,493 3 — 2,496 Other securities 10,805 — (39 ) 10,766 Total securities available for sale $ 287,293 $ 91 $ (247 ) $ 287,137 A summary of securities available for sale with unrealized losses as of March 31, 2017 and December 31, 2016 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total March 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 85,233 $ (99 ) $ 3,173 $ (2 ) $ 88,406 $ (101 ) Asset-backed securities 8,678 (4 ) — — 8,678 (4 ) Other securities — — 3,991 (10 ) 3,991 (10 ) Total securities with unrealized losses (1) $ 93,911 $ (103 ) $ 7,164 $ (12 ) $ 101,075 $ (115 ) Less than 12 months Total December 31, 2016 Fair Unrealized Fair Unrealized Fair Unrealized Corporate debt securities $ 107,862 $ (185 ) $ 11,682 $ (14 ) $ 119,544 $ (199 ) Asset-backed securities 6,628 (8 ) 1,870 (1 ) 8,498 (9 ) Other securities 6,800 (3 ) 3,966 (36 ) 10,766 (39 ) Total securities with unrealized losses (1) $ 121,290 $ (196 ) $ 17,518 $ (51 ) $ 138,808 $ (247 ) (1) The number of investment positions with unrealized losses at March 31, 2017 and December 31, 2016 totaled 55 and 72 , respectively. There were no impairment charges recognized during the first quarter of 2017 or 2016 . The contractual maturities of securities available for sale at March 31, 2017 , 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 $ 98,086 $ 69,101 $ — $ — $ 167,187 Asset-backed securities 8,178 11,916 — — 20,094 U.S. agency securities 19,621 — — — 19,621 Certificates of deposit 17,000 — — — 17,000 Commercial paper 15,551 — — — 15,551 U.S. Treasury securities — 2,495 — — 2,495 Other securities 1,001 3,991 — — 4,992 Total fair value $ 159,437 $ 87,503 $ — $ — $ 246,940 Total amortized cost $ 159,456 $ 87,404 $ — $ — $ 246,860 There were no sales of securities available for sale during the first quarter of 2017 or 2016.

(Notes)

(Notes)	3 Months Ended
	Mar. 31, 2017
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 corresponding loans. At March 31, 2017 and December 31, 2016 , loans, loans held for sale, notes and certificates measured at fair value on a recurring basis were as follows: Loans Loans Held For Sale Notes and Certificates March 31, December 31, March 31, December 31, March 31, December 31, Aggregate principal balance outstanding $ 4,312,252 $ 4,565,653 $ 9,724 $ 9,345 $ 4,318,302 $ 4,572,912 Net fair value adjustments (285,497 ) (253,669 ) (315 ) (297 ) (283,945 ) (252,017 ) Fair value $ 4,026,755 $ 4,311,984 $ 9,409 $ 9,048 $ 4,034,357 $ 4,320,895 Loans invested in by the Company for which there was no associated note or certificate had an aggregate principal balance outstanding of $26.6 million and a fair value of $24.8 million at March 31, 2017 . Loans invested in by the Company for which there was no associated note or certificate had an aggregate principal balance outstanding of $27.9 million and a fair value of $25.9 million at December 31, 2016 . The Company places all loans that are contractually past due by 120 days or more on non-accrual status. At March 31, 2017 and December 31, 2016 , loans that were 90 days or more past due (including non-accrual loans) were as follows: March 31, 2017 December 31, 2016 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 39,492 $ 1,807 $ 45,718 $ 5,055 Net fair value adjustments (33,860 ) (1,516 ) (40,183 ) (4,392 ) Fair value $ 5,632 $ 291 $ 5,535 $ 663 # of loans (not in thousands) 3,557 165 4,041 483 Loan Servicing Rights Loans underlying loan servicing rights had a total outstanding principal balance of $6.73 billion and $6.54 billion as of March 31, 2017 and December 31, 2016 , respectively.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Fair Value of Assets and Liabilities	Fair Value of Assets and Liabilities For a description of the fair value hierarchy and the Company’s fair value methodologies, see “Note 2. Summary of Significant Accounting Policies” in the Annual Report. 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: March 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,026,755 $ 4,026,755 Loans held for sale — — 9,409 9,409 Securities available for sale: Corporate debt securities — 167,187 — 167,187 Asset-backed securities — 20,094 — 20,094 U.S. agency securities — 19,621 — 19,621 Certificates of deposit — 17,000 — 17,000 Commercial paper — 15,551 — 15,551 U.S. Treasury securities — 2,495 — 2,495 Other securities — 4,992 — 4,992 Total securities available for sale — 246,940 — 246,940 Servicing assets — — 22,360 22,360 Total assets $ — $ 246,940 $ 4,058,524 $ 4,305,464 Liabilities: Notes and certificates $ — $ — $ 4,034,357 $ 4,034,357 Servicing liabilities — — 2,311 2,311 Loan trailing fee liability — — 5,814 5,814 Total liabilities $ — $ — $ 4,042,482 $ 4,042,482 December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Assets: Loans $ — $ — $ 4,311,984 $ 4,311,984 Loans held for sale — — 9,048 9,048 Securities available for sale: Corporate debt securities — 181,223 — 181,223 Certificates of deposit — 27,501 — 27,501 Asset-backed securities — 25,364 — 25,364 Commercial paper — 20,164 — 20,164 U.S. agency securities — 19,623 — 19,623 U.S. Treasury securities — 2,496 — 2,496 Other securities — 10,766 — 10,766 Total securities available for sale — 287,137 — 287,137 Servicing assets — — 21,398 21,398 Total assets $ — $ 287,137 $ 4,342,430 $ 4,629,567 Liabilities: Notes and certificates $ — $ — $ 4,320,895 $ 4,320,895 Loan trailing fee liability $ — $ — $ 4,913 $ 4,913 Servicing liabilities — — 2,846 2,846 Total liabilities $ — $ — $ 4,328,654 $ 4,328,654 Financial instruments are categorized in the valuation hierarchy based on the significance of unobservable factors in the overall fair value measurement. Since 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. 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 quarter of 2017 or the year ended December 31, 2016 . Significant Unobservable Inputs The following tables present quantitative information about the significant unobservable inputs used for the Company's Level 3 fair value measurements at March 31, 2017 and December 31, 2016 : March 31, 2017 Loans, Notes and Certificates Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 2.4 % 17.2 % 8.6 % 3.1 % 15.7 % 8.9 % 3.1 % 15.7 % 8.9 % Net cumulative expected loss rates (1) 0.7 % 40.7 % 14.2 % 0.3 % 40.7 % 12.5 % 0.3 % 40.7 % 12.9 % Cumulative expected prepayment rates (1) 8.1 % 41.6 % 30.8 % 8.0 % 41.6 % 31.1 % 8.0 % 41.6 % 30.5 % 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, 2016 Loans, Notes and Certificates Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 1.2 % 16.6 % 7.2 % 3.4 % 15.1 % 7.8 % 3.4 % 15.0 % 7.7 % Net cumulative expected loss rates (1) 0.3 % 33.9 % 14.6 % 0.3 % 33.9 % 12.8 % 0.3 % 33.9 % 13.5 % Cumulative expected prepayment rates (1) 8.0 % 42.7 % 30.7 % 8.0 % 42.7 % 29.3 % 8.0 % 42.7 % 28.3 % 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 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. At March 31, 2017 and December 31, 2016 , the discounted cash flow methodology used to estimate the note and certificates' fair values used the same projected net cash flows as their related loans. As demonstrated by the following tables, 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 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 first quarters of 2017 and 2016 : Loans Loans Held For Sale Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2016 $ 4,565,653 $ (253,669 ) $ 4,311,984 $ 9,345 $ (297 ) $ 9,048 $ 4,572,912 $ (252,017 ) $ 4,320,895 Purchases of loans 524,416 (4 ) 524,412 1,176,155 (1 ) 1,176,154 — — — Issuances of notes and certificates — — — — — — 523,305 — 523,305 Whole loan sales — — — (1,174,436 ) 157 (1,174,279 ) — — — Principal payments and retirements (639,719 ) — (639,719 ) (1,180 ) — (1,180 ) (641,105 ) 2 (641,103 ) Charge-offs (138,098 ) 138,098 — (160 ) 160 — (136,810 ) 136,810 — Recoveries — (10,889 ) (10,889 ) — — — — (10,790 ) (10,790 ) Change in fair value recorded in earnings — (159,033 ) (159,033 ) — (334 ) (334 ) — (157,950 ) (157,950 ) Ending balance at March 31, 2017 $ 4,312,252 $ (285,497 ) $ 4,026,755 $ 9,724 $ (315 ) $ 9,409 $ 4,318,302 $ (283,945 ) $ 4,034,357 Loans Loans Held For Sale Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value 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 921,825 — 921,825 1,308,463 — 1,308,463 — — — Issuances of notes and certificates — — — — — — 901,258 — 901,258 Whole loan sales — — — (1,308,463 ) — (1,308,463 ) — — — Principal payments (586,159 ) — (586,159 ) — — — (583,982 ) — (583,982 ) Charge-offs (84,991 ) 84,991 — — — — (84,977 ) 84,977 — Recoveries — (10,191 ) (10,191 ) — — — — (10,177 ) (10,177 ) Change in fair value recorded in earnings — (165,400 ) (165,400 ) — — — — (165,233 ) (165,233 ) Ending balance at March 31, 2016 $ 4,932,346 $ (216,190 ) $ 4,716,156 $ — $ — $ — $ 4,929,468 $ (216,019 ) $ 4,713,449 The following tables present additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the first quarters of 2017 and 2016 : Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 21,398 $ 2,846 $ 10,250 $ 3,973 Issuances (1) 5,317 274 5,631 932 Change in fair value, included in servicing fees (4,047 ) (809 ) 232 (2,078 ) Other net changes included in deferred revenue (308 ) — 851 — Fair value at end of period $ 22,360 $ 2,311 $ 16,964 $ 2,827 (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 first quarters of 2017 and 2016 : Three Months Ended 2017 2016 Fair value at beginning of period $ 4,913 $ — Issuances 1,663 1,002 Cash payment of loan trailing fee (826 ) (4 ) Change in fair value, included in origination and servicing 64 4 Fair value at end of period $ 5,814 $ 1,002 Significant Recurring Level 3 Fair Value Asset and Liability Input Sensitivity Fair valuation adjustments recorded through earnings related to Level 3 instruments for the first quarters of 2017 and 2016 . 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 fee liability. 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 fee liability, 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 reviews third-party servicing rates for its loans, loans in similar credit sectors, and market servicing benchmarking analyses provided by third-party valuation firms, when available. The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different market servicing rate assumptions as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions 0.63 % 0.63 % 0.63 % 0.63 % Change in fair value from: Servicing rate increase by 0.10% $ (5,889 ) $ 741 $ (5,673 ) $ 964 Servicing rate decrease by 0.10% $ 5,987 $ (643 ) $ 5,812 $ (825 ) Financial Instruments, Assets, and Liabilities Not Recorded at Fair Value The following tables present the fair value hierarchy for financial instruments, assets, and liabilities not recorded at fair value: March 31, 2017 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 534,451 $ — $ 534,451 $ — $ 534,451 Restricted cash 148,890 — 148,890 — 148,890 Servicer reserve receivable 4,362 — 4,362 — 4,362 Deposits 855 — 855 — 855 Total assets $ 688,558 $ — $ 688,558 $ — $ 688,558 Liabilities: Accrued expenses and other liabilities $ 11,748 $ — $ — $ 11,748 $ 11,748 Accounts payable 7,470 — 7,470 — 7,470 Payables to investors 96,131 — 96,131 — 96,131 Total liabilities $ 115,349 $ — $ 103,601 $ 11,748 $ 115,349 December 31, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 515,602 $ — $ 515,602 $ — $ 515,602 Restricted cash 177,810 — 177,810 — 177,810 Servicer reserve receivable 4,938 — 4,938 — 4,938 Deposits 855 — 855 — 855 Total assets $ 699,205 $ — $ 699,205 $ — $ 699,205 Liabilities: Accrued expenses and other liabilities $ 10,981 $ — $ — $ 10,981 $ 10,981 Accounts payable 10,889 — 10,889 — 10,889 Payables to investors 125,884 — 125,884 — 125,884 Total liabilities $ 147,754 $ — $ 136,773 $ 10,981 $ 147,754 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments.

Property, Equipment and Softwar

Property, Equipment and Software, net	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software, net, consist of the following: March 31, December 31, Internally developed software (1) $ 86,238 $ 75,202 Leasehold improvements 22,802 22,637 Computer equipment 18,794 18,080 Purchased software 7,284 7,598 Furniture and fixtures 6,832 6,827 Construction in progress 777 707 Total property, equipment and software 142,727 131,051 Accumulated depreciation and amortization (50,437 ) (41,788 ) Total property, equipment and software, net $ 92,290 $ 89,263 (1) Includes $12.6 million and $7.4 million in development in progress as of March 31, 2017 and December 31, 2016 , respectively. Depreciation and amortization expense on property, equipment and software was $9.1 million and $5.4 million for the first quarters of 2017 and 2016 , respectively.

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: March 31, December 31, Loan servicing assets, at fair value $ 22,360 $ 21,398 Prepaid expenses 16,555 16,960 Other investments 10,463 10,372 Insurance reimbursement receivable (1) 9,625 — Accounts receivable 7,096 7,572 Servicer reserve receivable 4,362 4,938 Receivable from investors 2,454 1,566 Tenant improvement receivable 1,678 3,290 Due from related parties (2) 405 476 Other 2,081 3,072 Total other assets $ 77,079 $ 69,644 (1) Represents insurance recoveries for certain legal expenses incurred as a result of the Company's board review and related governmental and regulatory inquiries. (2) Represents management fees due to LCA from certain private funds for which LCA acts as the general partner.

Intangible Assets and Goodwill

Intangible Assets and Goodwill	3 Months Ended
	Mar. 31, 2017
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets and Goodwill	Intangible Assets and Goodwill Intangible Assets The Company's intangible asset balance was $25.0 million and $26.2 million at March 31, 2017 and December 31, 2016 , respectively. Amortization expense associated with intangible assets for the first quarters of 2017 and 2016 was $1.2 million and $1.3 million , respectively. Goodwill The Company's goodwill balance was $35.6 million at March 31, 2017 and December 31, 2016 . The Company did not record any goodwill impairment expense for the first quarters of 2017 and 2016 . The Company's annual goodwill impairment testing date is April 1.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: March 31, December 31, Accrued expenses $ 21,853 $ 19,734 Accrued compensation (1) 19,774 27,009 Deferred rent 13,767 11,638 Transaction fee refund reserve 10,778 9,098 Loan trailing fee liability, at fair value 5,814 4,913 Loan servicing liabilities, at fair value 2,311 2,846 Deferred revenue 2,249 2,556 Credit loss coverage reserve 1,680 2,529 Reimbursement payable to limited partners of LCA private funds 1,520 2,313 Payable to issuing banks 896 1,658 Contingent liabilities 500 — Other 2,196 1,325 Total accrued expenses and other liabilities $ 83,338 $ 85,619 (1) Includes accrued cash retention awards of $5.4 million and $3.0 million as of March 31, 2017 and December 31, 2016 , respectively.

Secured Borrowings

Secured Borrowings	3 Months Ended
	Mar. 31, 2017
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 March 31, 2017 .

Employee Incentive Plans

Employee Incentive Plans	3 Months Ended
	Mar. 31, 2017
Postemployment Benefits [Abstract]
Employee Incentive Plans	Employee Incentive Plans The Company’s equity incentive plans provide for granting stock options and restricted stock units (RSUs) to employees, consultants, officers and directors. Stock-based compensation expense was as follows for the periods presented: Three Months Ended 2017 2016 Stock options $ 4,345 $ 7,657 RSUs 14,634 5,126 ESPP 385 388 Stock issued related to acquisition 134 1,850 Total stock-based compensation expense $ 19,498 $ 15,021 The following table presents the Company's stock-based compensation expense recorded in the condensed consolidated statements of operations: Three Months Ended 2017 2016 Sales and marketing $ 2,299 $ 1,904 Origination and servicing 1,416 746 Engineering and product development 6,588 3,723 Other general and administrative 9,195 8,648 Total stock-based compensation expense $ 19,498 $ 15,021 The Company capitalized $2.5 million and $1.9 million of stock-based compensation expense associated with developing software for internal use during the first quarters of 2017 and 2016 , respectively. The Company adopted ASU 2016-09 on January 1, 2017. See Note 2, “ Summary of Significant Accounting Policies, ” for information on the adoption of ASU 2016-09. Performance-based Restricted Stock Units During the first quarter of 2017, the Company's chief executive officer received performance-based restricted stock units (PBRSUs). PBRSUs are equity awards that may be earned based on achieving pre-established performance metrics over a specific performance period. Depending on the probability of achieving the pre-established performance targets, the PBRSUs issued could range from 0% to 200% of the target amount. PBRSUs granted under the Company’s equity incentive plans generally have a one -year performance period with one-half of the grant vesting in one-year following the completion of the performance period and the remaining one-half vesting in two -years following the completion of the performance period. Over the performance period, the number of PBRSUs that may be earned and the related stock-based compensation expense that is recognized is adjusted upward or downward based upon the probability of achieving the pre-established performance targets against the performance metrics.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2017
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes 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 March 31, 2017 and December 31, 2016 , the valuation allowance was $131.8 million and $75.3 million , respectively. The increase in the valuation allowance is due to the adoption of ASU 2016-09, which increased the Company's deferred tax assets for previously unrecognized excess tax benefits associated with the exercise of stock options and the vesting of RSUs.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Lease Commitments Total facilities rental expense for the first quarters of 2017 and 2016 was $3.8 million and $3.2 million , respectively. Minimum lease payments for the first quarters of 2017 and 2016 were $3.6 million and $2.2 million , respectively. As of March 31, 2017 , 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 and anticipated sublease income as of March 31, 2017 , were as follows: Operating Leases Subleases Net 2017 $ 11,500 $ 258 $ 11,242 2018 16,065 310 15,755 2019 15,633 39 15,594 2020 16,534 — 16,534 2021 16,790 — 16,790 Thereafter 41,223 — 41,223 Total $ 117,745 $ 607 $ 117,138 Loan Purchase Obligation Under the Company's loan account program with WebBank, member FDIC, that serves as the Company's primary issuing bank, WebBank retains ownership of the loans facilitated through Lending Club's marketplace for two business days after origination. As part of this arrangement, the Company has committed to purchase the loans at par plus accrued interest, at the conclusion of the two business days. As of March 31, 2017 and December 31, 2016 , the Company was committed to purchase loans with an outstanding principal balance of $52.3 million and $32.2 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. The Company believes 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 the loan repurchase obligations described above, the Company repurchased $0.9 million in loans during the first quarter of 2017 . Loan Funding and Purchase Commitments During the first quarter of 2017 , the Company purchased a total of $6.2 million in loans to fulfill contractual purchase obligations and support upcoming securitization initiatives. 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. The Company did not purchase any such loans during the first quarter of 2017 . Additionally, loans in the process of being facilitated and originated by the Company's issuing bank partner at March 31, 2017 , were substantially funded in April 2017 . 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. In addition, if neither Springstone nor the Company can arrange for other investors to invest in or purchase loans that Springstone facilitates and that are originated by an issuing bank partner but do not meet the credit criteria for purchase by the issuing bank partner (Pool B loans), Springstone and the Company are contractually committed to purchase these loans. As of March 31, 2017 , the Company had a $9.0 million deposit in a bank account to secure potential, future purchases of these loans, if necessary. The funds are recorded as restricted cash on the Company's consolidated balance sheets. During the first quarter of 2017 , the Company was required to purchase $1.7 million of Pool B loans. Pool B loans are held on the Company's balance sheet and have an outstanding principal balance of $2.4 million as of March 31, 2017 . Credit Support Agreements In connection with a significant platform purchase agreement, the Company is subject to a credit support agreement with a third-party whole loan investor that requires the Company to reimburse the investor for credit losses in excess of a specified percentage of the original principal balance of whole loans acquired by the investor during a 12 -month period. During the first quarter of 2017 , the Company reimbursed the investor $4.0 million as a result of this credit support agreement. As of March 31, 2017 , the Company has accrued approximately $1.7 million for future expected reimbursement to the investor. The Company is also 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. On April 14, 2017, the credit support agreement was terminated effective December 31, 2016, however, the Company remains subject to the credit support agreement for credit losses on loans underlying the Investment Fund's certificates that were issued on or prior to December 31, 2016. As of March 31, 2017 , $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 March 31, 2017 . Legal Securities Class Actions. During the year ended December 31, 2016, several putative class action lawsuits alleging violations of federal securities laws were filed in California Superior Court, 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 an amended complaint 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. The Company filed a demurrer requesting the Court dismiss certain of the claims alleged in the amended complaint, which was granted in part in the fourth quarter of 2016. The plaintiffs then filed a Second Amended Consolidated Complaint which the Company responded to with a new demurrer seeking to dismiss certain claims. The Court granted in part and denied in part this new demurrer thus setting the operative complaint. In early April 2017 the plaintiffs filed their motion for class certification which the Company will oppose; a hearing on this issue is currently set for June 2017. Discovery is continuing. 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. In mid-August 2016, the two actions were consolidated into a single action. The Company moved to dismiss the amended complaint filed in the fourth quarter of 2016. The Court held a hearing on this motion in the first quarter of 2017 and a ruling is expected imminently. Discovery will commence if the Company does not succeed in dismissing every claim in the complaint. 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 ( 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. Both actions were voluntarily dismissed without prejudice. On December 14, 2016, a new putative shareholder derivative action was filed in the Delaware Court of Chancery ( Steinberg, et al. v. Morris, et al., C.A. No. 12984-CB), against certain of the Company's current and former officers and directors and naming the Company as a nominal defendant. The action is based on allegations similar to those in the securities class action litigation described above. 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 Company filed a motion to compel arbitration on an individual basis, which was granted in February 2017. 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 parties settled in the first quarter of 2017. On May 9, 2016, following the announcement of the board review described elsewhere in this filing, the Company received a grand jury subpoena from the U.S. Department of Justice (DOJ). The Company also received formal requests for information from 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, Colorado Department of Law, New York Department of Financial Services, and West Virginia Attorney General's office. No assurance can be given as to the timing or outcome.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2017
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 executive management committee as chief operating decision maker (CODM). For purposes of allocating resources and evaluating financial performance, the Company’s CODM reviews financial information by the product types of personal loans, and education and patient finance loans. These product types are aggregated and viewed as one operating segment, and therefore, one reportable segment due to their similar economic characteristics, product economics, production process, and regulatory environment. Substantially all of the Company’s revenue is generated in the United States. No individual borrower or investor accounted for 10% or more of consolidated net revenue for any of the periods presented.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2017
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. 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. On April 1, 2016, the Company closed its $10.0 million investment, for an approximate ownership interest of 15% 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. 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 March 31, 2017 , the Company and a board member had an aggregate ownership interest of approximately 27% in the Investment Fund. During the first quarter of 2017 , this family of funds purchased $22.5 million of whole loans and interests in whole loans. During the first quarter of 2017 , the Company earned $354 thousand in investor fees from this family of funds, and paid interest of $2.3 million to the family of funds. The Company believes that the sales of whole loans and interests in whole loans, and the investor fees charged were on terms and conditions that were not more favorable than those obtained by other third-party investors.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2017
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to March 31, 2017 , 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.

Basis of Presentation (Policies

Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Accounting	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. 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 and contain all adjustments, consisting of only normal recurring adjustments, necessary for the fair statement of the results and financial position for the periods presented. These accounting principles require management to make certain estimates and assumptions that affect the amounts in the accompanying financial statements. Actual results may differ from those estimates, 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 first quarter of 2017, the Company simplified the presentation of “Total net revenue” in the unaudited Condensed Consolidated Statements of Operations to present revenues from transactions with investors as a single line item “Investor fees” by aggregating the revenues previously reported as “Servicing fees” and “Management fees.” Additionally, the Company aggregated “Fair value adjustments - loans, loans held for sale, notes and certificates” into “Other revenue (expense).” These changes had no impact to “Total net revenue.” Prior period amounts have been reclassified to conform to the current period 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, 2016 (Annual Report) filed on February 28, 2017.
Adoption of New Accounting Standards	Adoption of New Accounting Standards The Company adopted the following accounting standards during the period ended March 31, 2017 : Accounting Standards Update (ASU) 2016-09 Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting (ASU 2016-09), simplifies the accounting for employee share-based payment transactions, including the associated accounting for income taxes, forfeitures, and classification in the statement of cash flows. The Company adopted ASU 2016-09 effective January 1, 2017, under the modified retrospective method with the cumulative effect of adoption recorded as a reclassification to 2017 beginning accumulated deficit. The Company also elected to present the change in presentation in the Statement of Cash Flows related to excess tax benefits prospectively and, therefore, prior period amounts have not been adjusted. Under ASU 2016-09, the Company now recognizes the excess income tax benefits or deficiencies from stock-based compensation in the income tax provision in the Consolidated Statements of Operations, and as an operating activity in the Consolidated Statements of Cash Flows. Additionally, excess tax benefits and tax deficiencies are now excluded from the calculation of assumed proceeds using the treasury stock method when computing fully diluted earnings per share. The Company recognized a $56.5 million deferred tax asset with a full valuation allowance (net zero impact upon adoption) in the Consolidated Balance Sheet for the excess income tax benefits from stock-based compensation as of January 1, 2017. The Company also elected to recognize forfeitures as they occur for equity awards with only a service condition, rather than estimate expected forfeitures, as permitted by ASU 2016-09. The Company recorded a $1.4 million reclassification to 2017 beginning accumulated deficit to remove the estimate of forfeitures as of January 1, 2017. ASU 2017-04, Intangibles – Goodwill and Other (Topic 350) – Simplifying the Test for Goodwill Impairment, simplifies the accounting for goodwill impairments by eliminating Step 2 of the goodwill impairment test. Under ASU 2017-04, a goodwill impairment loss is now measured as the amount by which the carrying amount of a reporting unit exceeds its fair value. The Company elected to early adopt ASU 2017-04 effective January 1, 2017. The adoption did not have an effect on the Company's condensed consolidated financial statements for the period ended March 31, 2017 . New Accounting Standards Not Yet Adopted Updates to the new accounting standards not yet adopted as disclosed in the Company’s Annual Report for the year ended December 31, 2016 are as follows: 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 the amendments is the same as for ASU 2014-09. The Company plans to adopt the revenue recognition guidance beginning January 1, 2018 and currently anticipates using the modified retrospective method of adoption. However, the adoption method to be used is subject to completion of the Company’s impact assessment. We have preliminarily determined the revenue streams that are in the scope and have begun reviewing our revenue contracts to identify any changes in the timing of revenue recognition, presentation of certain revenue streams as gross versus net reporting, and the capitalization of contract costs. The assessment of applying Topic 606 is ongoing and, therefore, the Company has not yet determined whether those impacts will be material to the Company’s consolidated financial statements. No new accounting standards that are applicable to the Company were issued after the filing of the Company's Annual Report for the year ended December 31, 2016.

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2017
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 2017 2016 Net income (loss) $ (29,844 ) $ 4,137 Weighted average common shares - Basic 400,308,521 380,266,636 Weighted average common shares - Diluted 400,308,521 392,397,825 Net income (loss) per share: Basic $ (0.07 ) $ 0.01 Diluted $ (0.07 ) $ 0.01

Securities Available for Sale (

Securities Available for Sale (Tables)	3 Months Ended
	Mar. 31, 2017
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The amortized cost, gross unrealized gains and losses, and fair value of securities available for sale as of March 31, 2017 and December 31, 2016 , were as follows: March 31, 2017 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 167,115 $ 173 $ (101 ) $ 167,187 Asset-backed securities 20,097 1 (4 ) 20,094 U.S. agency securities 19,601 20 — 19,621 Certificates of deposit 17,000 — — 17,000 Commercial paper 15,551 — — 15,551 U.S. Treasury securities 2,494 1 — 2,495 Other securities 5,002 — (10 ) 4,992 Total securities available for sale $ 246,860 $ 195 $ (115 ) $ 246,940 December 31, 2016 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value Corporate debt securities $ 181,359 $ 63 $ (199 ) $ 181,223 Certificates of deposit 27,501 — — 27,501 Asset-backed securities 25,369 4 (9 ) 25,364 Commercial paper 20,164 — — 20,164 U.S. agency securities 19,602 21 — 19,623 U.S. Treasury securities 2,493 3 — 2,496 Other securities 10,805 — (39 ) 10,766 Total securities available for sale $ 287,293 $ 91 $ (247 ) $ 287,137
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	A summary of securities available for sale with unrealized losses as of March 31, 2017 and December 31, 2016 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total March 31, 2017 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Corporate debt securities $ 85,233 $ (99 ) $ 3,173 $ (2 ) $ 88,406 $ (101 ) Asset-backed securities 8,678 (4 ) — — 8,678 (4 ) Other securities — — 3,991 (10 ) 3,991 (10 ) Total securities with unrealized losses (1) $ 93,911 $ (103 ) $ 7,164 $ (12 ) $ 101,075 $ (115 ) Less than 12 months Total December 31, 2016 Fair Unrealized Fair Unrealized Fair Unrealized Corporate debt securities $ 107,862 $ (185 ) $ 11,682 $ (14 ) $ 119,544 $ (199 ) Asset-backed securities 6,628 (8 ) 1,870 (1 ) 8,498 (9 ) Other securities 6,800 (3 ) 3,966 (36 ) 10,766 (39 ) Total securities with unrealized losses (1) $ 121,290 $ (196 ) $ 17,518 $ (51 ) $ 138,808 $ (247 ) (1) The number of investment positions with unrealized losses at March 31, 2017 and December 31, 2016 totaled 55 and 72 , respectively.
Available-for-sale Securities by Contractual Maturity	The contractual maturities of securities available for sale at March 31, 2017 , 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 $ 98,086 $ 69,101 $ — $ — $ 167,187 Asset-backed securities 8,178 11,916 — — 20,094 U.S. agency securities 19,621 — — — 19,621 Certificates of deposit 17,000 — — — 17,000 Commercial paper 15,551 — — — 15,551 U.S. Treasury securities — 2,495 — — 2,495 Other securities 1,001 3,991 — — 4,992 Total fair value $ 159,437 $ 87,503 $ — $ — $ 246,940 Total amortized cost $ 159,456 $ 87,404 $ — $ — $ 246,860

Loans, Loans Held For Sale, Not

Loans, Loans Held For Sale, Notes and Certificates and Loan Servicing Rights (Tables)	3 Months Ended
	Mar. 31, 2017
Fair Value Disclosures [Abstract]
Loans and Notes and Certificates	At March 31, 2017 and December 31, 2016 , loans, loans held for sale, notes and certificates measured at fair value on a recurring basis were as follows: Loans Loans Held For Sale Notes and Certificates March 31, December 31, March 31, December 31, March 31, December 31, Aggregate principal balance outstanding $ 4,312,252 $ 4,565,653 $ 9,724 $ 9,345 $ 4,318,302 $ 4,572,912 Net fair value adjustments (285,497 ) (253,669 ) (315 ) (297 ) (283,945 ) (252,017 ) Fair value $ 4,026,755 $ 4,311,984 $ 9,409 $ 9,048 $ 4,034,357 $ 4,320,895
Past Due Financing Receivables	At March 31, 2017 and December 31, 2016 , loans that were 90 days or more past due (including non-accrual loans) were as follows: March 31, 2017 December 31, 2016 > 90 days past due Non-accrual loans > 90 days past due Non-accrual loans Outstanding principal balance $ 39,492 $ 1,807 $ 45,718 $ 5,055 Net fair value adjustments (33,860 ) (1,516 ) (40,183 ) (4,392 ) Fair value $ 5,632 $ 291 $ 5,535 $ 663 # of loans (not in thousands) 3,557 165 4,041 483

Fair Value of Assets and Liab28

Fair Value of Assets and Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
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: March 31, 2017 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans $ — $ — $ 4,026,755 $ 4,026,755 Loans held for sale — — 9,409 9,409 Securities available for sale: Corporate debt securities — 167,187 — 167,187 Asset-backed securities — 20,094 — 20,094 U.S. agency securities — 19,621 — 19,621 Certificates of deposit — 17,000 — 17,000 Commercial paper — 15,551 — 15,551 U.S. Treasury securities — 2,495 — 2,495 Other securities — 4,992 — 4,992 Total securities available for sale — 246,940 — 246,940 Servicing assets — — 22,360 22,360 Total assets $ — $ 246,940 $ 4,058,524 $ 4,305,464 Liabilities: Notes and certificates $ — $ — $ 4,034,357 $ 4,034,357 Servicing liabilities — — 2,311 2,311 Loan trailing fee liability — — 5,814 5,814 Total liabilities $ — $ — $ 4,042,482 $ 4,042,482 December 31, 2016 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Assets: Loans $ — $ — $ 4,311,984 $ 4,311,984 Loans held for sale — — 9,048 9,048 Securities available for sale: Corporate debt securities — 181,223 — 181,223 Certificates of deposit — 27,501 — 27,501 Asset-backed securities — 25,364 — 25,364 Commercial paper — 20,164 — 20,164 U.S. agency securities — 19,623 — 19,623 U.S. Treasury securities — 2,496 — 2,496 Other securities — 10,766 — 10,766 Total securities available for sale — 287,137 — 287,137 Servicing assets — — 21,398 21,398 Total assets $ — $ 287,137 $ 4,342,430 $ 4,629,567 Liabilities: Notes and certificates $ — $ — $ 4,320,895 $ 4,320,895 Loan trailing fee liability $ — $ — $ 4,913 $ 4,913 Servicing liabilities — — 2,846 2,846 Total liabilities $ — $ — $ 4,328,654 $ 4,328,654
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following tables present quantitative information about the significant unobservable inputs used for the Company's Level 3 fair value measurements at March 31, 2017 and December 31, 2016 : March 31, 2017 Loans, Notes and Certificates Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 2.4 % 17.2 % 8.6 % 3.1 % 15.7 % 8.9 % 3.1 % 15.7 % 8.9 % Net cumulative expected loss rates (1) 0.7 % 40.7 % 14.2 % 0.3 % 40.7 % 12.5 % 0.3 % 40.7 % 12.9 % Cumulative expected prepayment rates (1) 8.1 % 41.6 % 30.8 % 8.0 % 41.6 % 31.1 % 8.0 % 41.6 % 30.5 % 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, 2016 Loans, Notes and Certificates Servicing Asset/Liability Loan Trailing Fee Liability Minimum Maximum Weighted Average Minimum Maximum Weighted Average Minimum Maximum Weighted Average Discount rates 1.2 % 16.6 % 7.2 % 3.4 % 15.1 % 7.8 % 3.4 % 15.0 % 7.7 % Net cumulative expected loss rates (1) 0.3 % 33.9 % 14.6 % 0.3 % 33.9 % 12.8 % 0.3 % 33.9 % 13.5 % Cumulative expected prepayment rates (1) 8.0 % 42.7 % 30.7 % 8.0 % 42.7 % 29.3 % 8.0 % 42.7 % 28.3 % 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 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.
Fair Value Assets And Liabilities Measured On Recurring Basis Unobservable Input Reconciliation Table	The following tables present additional information about Level 3 servicing assets and liabilities measured at fair value on a recurring basis for the first quarters of 2017 and 2016 : Three Months Ended March 31, 2017 Three Months Ended March 31, 2016 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Fair value at beginning of period $ 21,398 $ 2,846 $ 10,250 $ 3,973 Issuances (1) 5,317 274 5,631 932 Change in fair value, included in servicing fees (4,047 ) (809 ) 232 (2,078 ) Other net changes included in deferred revenue (308 ) — 851 — Fair value at end of period $ 22,360 $ 2,311 $ 16,964 $ 2,827 (1) Represents the offsets to the gains or losses on sales of the related loans, recorded in other revenue. 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 first quarters of 2017 and 2016 : Loans Loans Held For Sale Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Beginning balance at December 31, 2016 $ 4,565,653 $ (253,669 ) $ 4,311,984 $ 9,345 $ (297 ) $ 9,048 $ 4,572,912 $ (252,017 ) $ 4,320,895 Purchases of loans 524,416 (4 ) 524,412 1,176,155 (1 ) 1,176,154 — — — Issuances of notes and certificates — — — — — — 523,305 — 523,305 Whole loan sales — — — (1,174,436 ) 157 (1,174,279 ) — — — Principal payments and retirements (639,719 ) — (639,719 ) (1,180 ) — (1,180 ) (641,105 ) 2 (641,103 ) Charge-offs (138,098 ) 138,098 — (160 ) 160 — (136,810 ) 136,810 — Recoveries — (10,889 ) (10,889 ) — — — — (10,790 ) (10,790 ) Change in fair value recorded in earnings — (159,033 ) (159,033 ) — (334 ) (334 ) — (157,950 ) (157,950 ) Ending balance at March 31, 2017 $ 4,312,252 $ (285,497 ) $ 4,026,755 $ 9,724 $ (315 ) $ 9,409 $ 4,318,302 $ (283,945 ) $ 4,034,357 Loans Loans Held For Sale Notes and Certificates Outstanding Principal Balance Valuation Adjustment Fair Value 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 921,825 — 921,825 1,308,463 — 1,308,463 — — — Issuances of notes and certificates — — — — — — 901,258 — 901,258 Whole loan sales — — — (1,308,463 ) — (1,308,463 ) — — — Principal payments (586,159 ) — (586,159 ) — — — (583,982 ) — (583,982 ) Charge-offs (84,991 ) 84,991 — — — — (84,977 ) 84,977 — Recoveries — (10,191 ) (10,191 ) — — — — (10,177 ) (10,177 ) Change in fair value recorded in earnings — (165,400 ) (165,400 ) — — — — (165,233 ) (165,233 ) Ending balance at March 31, 2016 $ 4,932,346 $ (216,190 ) $ 4,716,156 $ — $ — $ — $ 4,929,468 $ (216,019 ) $ 4,713,449
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 first quarters of 2017 and 2016 : Three Months Ended 2017 2016 Fair value at beginning of period $ 4,913 $ — Issuances 1,663 1,002 Cash payment of loan trailing fee (826 ) (4 ) Change in fair value, included in origination and servicing 64 4 Fair value at end of period $ 5,814 $ 1,002
Fair Value Disclosure And Measurement	The table below shows the impact on the estimated fair value of servicing assets and liabilities, calculated using different market servicing rate assumptions as of March 31, 2017 and December 31, 2016 : March 31, 2017 December 31, 2016 Servicing Assets Servicing Liabilities Servicing Assets Servicing Liabilities Weighted-average market servicing rate assumptions 0.63 % 0.63 % 0.63 % 0.63 % Change in fair value from: Servicing rate increase by 0.10% $ (5,889 ) $ 741 $ (5,673 ) $ 964 Servicing rate decrease by 0.10% $ 5,987 $ (643 ) $ 5,812 $ (825 )
Fair Value, by Balance Sheet Grouping	The following tables present the fair value hierarchy for financial instruments, assets, and liabilities not recorded at fair value: March 31, 2017 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 534,451 $ — $ 534,451 $ — $ 534,451 Restricted cash 148,890 — 148,890 — 148,890 Servicer reserve receivable 4,362 — 4,362 — 4,362 Deposits 855 — 855 — 855 Total assets $ 688,558 $ — $ 688,558 $ — $ 688,558 Liabilities: Accrued expenses and other liabilities $ 11,748 $ — $ — $ 11,748 $ 11,748 Accounts payable 7,470 — 7,470 — 7,470 Payables to investors 96,131 — 96,131 — 96,131 Total liabilities $ 115,349 $ — $ 103,601 $ 11,748 $ 115,349 December 31, 2016 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 515,602 $ — $ 515,602 $ — $ 515,602 Restricted cash 177,810 — 177,810 — 177,810 Servicer reserve receivable 4,938 — 4,938 — 4,938 Deposits 855 — 855 — 855 Total assets $ 699,205 $ — $ 699,205 $ — $ 699,205 Liabilities: Accrued expenses and other liabilities $ 10,981 $ — $ — $ 10,981 $ 10,981 Accounts payable 10,889 — 10,889 — 10,889 Payables to investors 125,884 — 125,884 — 125,884 Total liabilities $ 147,754 $ — $ 136,773 $ 10,981 $ 147,754 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments.

Property, Equipment and Softw29

Property, Equipment and Software, Net (Tables)	3 Months Ended
	Mar. 31, 2017
Property, Plant and Equipment [Abstract]
Property, Equipment and Software	Property, equipment and software, net, consist of the following: March 31, December 31, Internally developed software (1) $ 86,238 $ 75,202 Leasehold improvements 22,802 22,637 Computer equipment 18,794 18,080 Purchased software 7,284 7,598 Furniture and fixtures 6,832 6,827 Construction in progress 777 707 Total property, equipment and software 142,727 131,051 Accumulated depreciation and amortization (50,437 ) (41,788 ) Total property, equipment and software, net $ 92,290 $ 89,263 (1) Includes $12.6 million and $7.4 million in development in progress as of March 31, 2017 and December 31, 2016 , respectively.

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2017
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: March 31, December 31, Loan servicing assets, at fair value $ 22,360 $ 21,398 Prepaid expenses 16,555 16,960 Other investments 10,463 10,372 Insurance reimbursement receivable (1) 9,625 — Accounts receivable 7,096 7,572 Servicer reserve receivable 4,362 4,938 Receivable from investors 2,454 1,566 Tenant improvement receivable 1,678 3,290 Due from related parties (2) 405 476 Other 2,081 3,072 Total other assets $ 77,079 $ 69,644 (1) Represents insurance recoveries for certain legal expenses incurred as a result of the Company's board review and related governmental and regulatory inquiries. (2) Represents management fees due to LCA from certain private funds for which LCA acts as the general partner.

Accrued Expenses and Other Li31

Accrued Expenses and Other Liabilities (Tables)	3 Months Ended
	Mar. 31, 2017
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: March 31, December 31, Accrued expenses $ 21,853 $ 19,734 Accrued compensation (1) 19,774 27,009 Deferred rent 13,767 11,638 Transaction fee refund reserve 10,778 9,098 Loan trailing fee liability, at fair value 5,814 4,913 Loan servicing liabilities, at fair value 2,311 2,846 Deferred revenue 2,249 2,556 Credit loss coverage reserve 1,680 2,529 Reimbursement payable to limited partners of LCA private funds 1,520 2,313 Payable to issuing banks 896 1,658 Contingent liabilities 500 — Other 2,196 1,325 Total accrued expenses and other liabilities $ 83,338 $ 85,619 (1) Includes accrued cash retention awards of $5.4 million and $3.0 million as of March 31, 2017 and December 31, 2016 , respectively.

Employee Incentive Plans (Table

Employee Incentive Plans (Tables)	3 Months Ended
	Mar. 31, 2017
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 2017 2016 Stock options $ 4,345 $ 7,657 RSUs 14,634 5,126 ESPP 385 388 Stock issued related to acquisition 134 1,850 Total stock-based compensation expense $ 19,498 $ 15,021
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 2017 2016 Sales and marketing $ 2,299 $ 1,904 Origination and servicing 1,416 746 Engineering and product development 6,588 3,723 Other general and administrative 9,195 8,648 Total stock-based compensation expense $ 19,498 $ 15,021

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2017
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 and anticipated sublease income as of March 31, 2017 , were as follows: Operating Leases Subleases Net 2017 $ 11,500 $ 258 $ 11,242 2018 16,065 310 15,755 2019 15,633 39 15,594 2020 16,534 — 16,534 2021 16,790 — 16,790 Thereafter 41,223 — 41,223 Total $ 117,745 $ 607 $ 117,138

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details) - Accounting Standards Update 2016-09 - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Deferred tax assets	$ 56.5
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Cumulative effect of adjustment		$ (1.4)

Net Income (Loss) Per Share - B

Net Income (Loss) Per Share - Basic and Diluted Net Income (Loss) per Share (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Earnings Per Share [Abstract]
Net income (loss)	$ (29,844)	$ 4,137
Basic weighted average common shares outstanding (shares)	400,308,521	380,266,636
Diluted weighted average common shares outstanding (shares)	400,308,521	392,397,825
Net income (loss) per common share:
Basic ($ per share)	$ (0.07)	$ 0.01
Diluted ($ per share)	$ (0.07)	$ 0.01

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 246,860	$ 287,293
Gross Unrealized Gains	195	91
Gross Unrealized Losses	(115)	(247)
Securities available for sale:	246,940	287,137
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	167,115	181,359
Gross Unrealized Gains	173	63
Gross Unrealized Losses	(101)	(199)
Securities available for sale:	167,187	181,223
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	20,097	25,369
Gross Unrealized Gains	1	4
Gross Unrealized Losses	(4)	(9)
Securities available for sale:	20,094	25,364
U.S. agency securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	19,601	19,602
Gross Unrealized Gains	20	21
Gross Unrealized Losses	0	0
Securities available for sale:	19,621	19,623
Certificates of deposit
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	17,000	27,501
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Securities available for sale:	17,000	27,501
Commercial paper
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	15,551	20,164
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	0
Securities available for sale:	15,551	20,164
U.S. Treasury securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	2,494	2,493
Gross Unrealized Gains	1	3
Gross Unrealized Losses	0	0
Securities available for sale:	2,495	2,496
Other securities
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,002	10,805
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(10)	(39)
Securities available for sale:	$ 4,992	$ 10,766

Securities Available for Sale37

Securities Available for Sale - Continuous loss (Details) $ in Thousands	Mar. 31, 2017USD ($)position	Dec. 31, 2016USD ($)position
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 93,911	$ 121,290
Unrealized Losses, Less than 12 months	(103)	(196)
Fair Value, 12 months or longer	7,164	17,518
Unrealized Losses, 12 months or longer	(12)	(51)
Fair Value	101,075	138,808
Unrealized Losses	$ (115)	$ (247)
Number of positions with unrealized losses | position	55	72
Corporate debt securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	$ 85,233	$ 107,862
Unrealized Losses, Less than 12 months	(99)	(185)
Fair Value, 12 months or longer	3,173	11,682
Unrealized Losses, 12 months or longer	(2)	(14)
Fair Value	88,406	119,544
Unrealized Losses	(101)	(199)
Asset-backed securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	8,678	6,628
Unrealized Losses, Less than 12 months	(4)	(8)
Fair Value, 12 months or longer	0	1,870
Unrealized Losses, 12 months or longer	0	(1)
Fair Value	8,678	8,498
Unrealized Losses	(4)	(9)
Other securities
Schedule of Available-for-sale Securities [Line Items]
Fair Value, Less than 12 months	0	6,800
Unrealized Losses, Less than 12 months	0	(3)
Fair Value, 12 months or longer	3,991	3,966
Unrealized Losses, 12 months or longer	(10)	(36)
Fair Value	3,991	10,766
Unrealized Losses	$ (10)	$ (39)

Securities Available for Sale38

Securities Available for Sale - Maturities (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair value
Within 1 year	$ 159,437
After 1 year through 5 years	87,503
After 5 years through 10 years	0
After 10 years	0
Total	246,940	$ 287,137
Amortized cost
Within 1 year	159,456
After 1 year through 5 years	87,404
After 5 years through 10 years	0
After 10 years	0
Total	246,860
Corporate debt securities
Fair value
Within 1 year	98,086
After 1 year through 5 years	69,101
After 5 years through 10 years	0
After 10 years	0
Total	167,187	181,223
Asset-backed securities
Fair value
Within 1 year	8,178
After 1 year through 5 years	11,916
After 5 years through 10 years	0
After 10 years	0
Total	20,094	25,364
U.S. agency securities
Fair value
Within 1 year	19,621
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years	0
Total	19,621	19,623
Certificates of deposit
Fair value
Within 1 year	17,000
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years	0
Total	17,000	27,501
Commercial paper
Fair value
Within 1 year	15,551
After 1 year through 5 years	0
After 5 years through 10 years	0
After 10 years	0
Total	15,551	20,164
U.S. Treasury securities
Fair value
Within 1 year	0
After 1 year through 5 years	2,495
After 5 years through 10 years	0
After 10 years	0
Total	2,495	2,496
Other securities
Fair value
Within 1 year	1,001
After 1 year through 5 years	3,991
After 5 years through 10 years	0
After 10 years	0
Total	$ 4,992	$ 10,766

Loans, Loans Held For Sale, N39

Loans, Loans Held For Sale, Notes and Certificates and Loan Servicing Rights (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans	$ 4,026,755	$ 4,311,984
Loans held for sale	9,409	9,048
Fair Value	4,034,357	4,320,895
Fair Value, Measurements, Recurring | Loans
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	4,312,252	4,565,653
Fair value adjustments	(285,497)	(253,669)
Loans	4,026,755	4,311,984
Fair Value, Measurements, Recurring | Loans Held For Sale
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	9,724	9,345
Fair value adjustments	(315)	(297)
Loans held for sale	9,409	9,048
Fair Value, Measurements, Recurring | Notes and Certificates
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding	4,318,302	4,572,912
Fair value adjustments	(283,945)	(252,017)
Fair Value	$ 4,034,357	$ 4,320,895

Loans, Loans Held For Sale, N40

Loans, Loans Held For Sale, Notes and Certificates and Loan Servicing Rights - Past Due Table (Details) - Loans $ in Thousands	Mar. 31, 2017USD ($)Loan	Dec. 31, 2016USD ($)Loan
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance, past 90 days due	$ 39,492	$ 45,718
Outstanding principal balance, non-accrual loans	1,807	5,055
Net fair value adjustments, past 90 days due	(33,860)	(40,183)
Net fair value adjustments, non-accrual loans	(1,516)	(4,392)
Fair value, past 90 days due	5,632	5,535
Fair value, non-accrual loans	$ 291	$ 663
Number of loans, 90 days past due | Loan	3,557	4,041
Number of loans, non-accrual loans | Loan	165	483

Loans, Loans Held For Sale, N41

Loans, Loans Held For Sale, Notes and Certificates and Loan Servicing Rights - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans held for sale	$ 9,409	$ 9,048
Nonaccrual policy	120 days
Loan Servicing Rights
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Principal balance of underlying loan servicing rights	$ 6,730,000	6,540,000
Loans Notes And Certificates
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Held-for-sale, principal	26,600	27,900
Loans held for sale	$ 24,800	$ 25,900

Fair Value of Assets and Liab42

Fair Value of Assets and Liabilities - Loans, Loan Servicing Rights, Related Notes and Certificates (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	$ 4,026,755	$ 4,311,984
Loans held for sale	9,409	9,048
Securities available for sale:	246,940	287,137
Servicing assets	22,360	21,398
Total assets	4,305,464	4,629,567
Notes and certificates	4,034,357	4,320,895
Servicing liabilities	2,311	2,846
Loan trailing fee liability	5,814	4,913
Total liabilities	4,042,482	4,328,654
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	167,187	181,223
Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	20,094	25,364
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	19,621	19,623
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	17,000	27,501
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	15,551	20,164
U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	2,495	2,496
Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	4,992	10,766
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Loans held for sale	0	0
Securities available for sale:	0	0
Servicing assets	0	0
Total assets	0	0
Notes and certificates	0	0
Servicing liabilities	0	0
Loan trailing fee liability	0	0
Total liabilities	0	0
Level 1 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 1 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	0	0
Loans held for sale	0	0
Securities available for sale:	246,940	287,137
Servicing assets	0	0
Total assets	246,940	287,137
Notes and certificates	0	0
Servicing liabilities	0	0
Loan trailing fee liability	0	0
Total liabilities	0	0
Level 2 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	167,187	181,223
Level 2 Inputs | Asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	20,094	25,364
Level 2 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	19,621	19,623
Level 2 Inputs | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	17,000	27,501
Level 2 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	15,551	20,164
Level 2 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	2,495	2,496
Level 2 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	4,992	10,766
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans	4,026,755	4,311,984
Loans held for sale	9,409	9,048
Securities available for sale:	0	0
Servicing assets	22,360	21,398
Total assets	4,058,524	4,342,430
Notes and certificates	4,034,357	4,320,895
Servicing liabilities	2,311	2,846
Loan trailing fee liability	5,814	4,913
Total liabilities	4,042,482	4,328,654
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	0
Level 3 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | U.S. Treasury securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	0	0
Level 3 Inputs | Other securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale:	$ 0	$ 0

Fair Value of Assets and Liab43

Fair Value of Assets and Liabilities - Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements (Detail) - Level 3 Inputs	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Minimum | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	3.10%	3.40%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	8.00%
Total market servicing rates	0.63%	0.63%
Maximum | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	15.70%	15.10%
Net cumulative expected loss rates	40.70%	33.90%
Cumulative prepayment rates	41.60%	42.70%
Total market servicing rates	0.90%	0.90%
Weighted- Average | Servicing Asset Liability
Fair Value Inputs [Abstract]
Discount rates	8.90%	7.80%
Net cumulative expected loss rates	12.50%	12.80%
Cumulative prepayment rates	31.10%	29.30%
Total market servicing rates	0.63%	0.63%
Loans, notes and certificates | Minimum
Fair Value Inputs [Abstract]
Discount rates	2.40%	1.20%
Net cumulative expected loss rates	0.70%	0.30%
Cumulative prepayment rates	8.10%	8.00%
Loans, notes and certificates | Maximum
Fair Value Inputs [Abstract]
Discount rates	17.20%	16.60%
Net cumulative expected loss rates	40.70%	33.90%
Cumulative prepayment rates	41.60%	42.70%
Loans, notes and certificates | Weighted- Average
Fair Value Inputs [Abstract]
Discount rates	8.60%	7.20%
Net cumulative expected loss rates	14.20%	14.60%
Cumulative prepayment rates	30.80%	30.70%
Trailing Fee Liability | Minimum
Fair Value Inputs [Abstract]
Discount rates	3.10%	3.40%
Net cumulative expected loss rates	0.30%	0.30%
Cumulative prepayment rates	8.00%	8.00%
Trailing Fee Liability | Maximum
Fair Value Inputs [Abstract]
Discount rates	15.70%	15.00%
Net cumulative expected loss rates	40.70%	33.90%
Cumulative prepayment rates	41.60%	42.70%
Trailing Fee Liability | Weighted- Average
Fair Value Inputs [Abstract]
Discount rates	8.90%	7.70%
Net cumulative expected loss rates	12.90%	13.50%
Cumulative prepayment rates	30.50%	28.30%

Fair Value of Assets and Liab44

Fair Value of Assets and Liabilities - Additional Information about Loans, Notes and Certificates Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Loans Notes And Certificates
Loans
Outstanding Principal Balance, Beginning	$ 4,565,653	$ 4,681,671
Valuation Adjustment, Beginning	(253,669)	(125,590)
Fair Value, Beginning	4,311,984	4,556,081
Outstanding Principal Balance, Purchases of loans	524,416	921,825
Valuation Adjustment, Purchases of loans	(4)	0
Fair Value, Purchases of loans	524,412	921,825
Outstanding Principal Balance, Issuances of notes and certificates	0	0
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	0	0
Outstanding Principal Balance, Whole loan sales	0	0
Valuation Adjustment, Whole loan sales	0	0
Fair Value, Whole loan sales	0	0
Outstanding Principal Balance, Principal payments	(639,719)	(586,159)
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(639,719)	(586,159)
Outstanding Principal Balance, Charge-offs	(138,098)	(84,991)
Valuation Adjustment, Charge-offs	138,098	84,991
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	(10,889)	(10,191)
Fair Value, Recoveries	(10,889)	(10,191)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(159,033)	(165,400)
Fair Value, Change in fair value recorded in earnings	(159,033)	(165,400)
Outstanding Principal Balance, Ending	4,312,252	4,932,346
Valuation Adjustment, Ending	(285,497)	(216,190)
Fair Value, Ending	4,026,755	4,716,156
Notes and Certificates
Outstanding Principal Balance, Beginning	4,572,912	4,697,169
Valuation Adjustment, Beginning	(252,017)	(125,586)
Fair value at beginning of period	4,320,895	4,571,583
Outstanding Principal Balance, Purchases of loans	0	0
Valuation Adjustment, Purchases of loans	0	0
Fair Value, Purchases of loans	0	0
Outstanding Principal Balance, Issuances of notes and certificates	523,305	901,258
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	523,305	901,258
Outstanding Principal Balance, Whole loan sales	0	0
Valuation Adjustment, Whole loan sales	0	0
Fair Value, Whole loan sales	0	0
Outstanding Principal Balance, Principal payments	(641,105)	(583,982)
Valuation Adjustment, Principal payments	2	0
Fair Value, Principal payments	(641,103)	(583,982)
Outstanding Principal Balance, Charge-offs	(136,810)	(84,977)
Valuation Adjustment, Charge-offs	136,810	84,977
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	(10,790)	(10,177)
Fair Value, Recoveries	(10,790)	(10,177)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(157,950)	(165,233)
Fair Value, Change in fair value recorded in earnings	(157,950)	(165,233)
Outstanding Principal Balance, Ending	4,318,302	4,929,468
Valuation Adjustment, Ending	(283,945)	(216,019)
Fair value at end of period	4,034,357	4,713,449
Loans Held For Sale
Loans
Outstanding Principal Balance, Beginning	9,345	0
Valuation Adjustment, Beginning	(297)	0
Fair Value, Beginning	9,048	0
Outstanding Principal Balance, Purchases of loans	1,176,155	1,308,463
Valuation Adjustment, Purchases of loans	(1)	0
Fair Value, Purchases of loans	1,176,154	1,308,463
Outstanding Principal Balance, Issuances of notes and certificates	0	0
Valuation Adjustment, Issuances of notes and certificates	0	0
Fair Value, Issuances of notes and certificates	0	0
Outstanding Principal Balance, Whole loan sales	(1,174,436)	(1,308,463)
Valuation Adjustment, Whole loan sales	157	0
Fair Value, Whole loan sales	(1,174,279)	(1,308,463)
Outstanding Principal Balance, Principal payments	(1,180)	0
Valuation Adjustment, Principal payments	0	0
Fair Value, Principal payments	(1,180)	0
Outstanding Principal Balance, Charge-offs	(160)	0
Valuation Adjustment, Charge-offs	160	0
Fair Value, Charge-offs	0	0
Outstanding Principal Balance, Recoveries	0	0
Valuation Adjustment, Recoveries	0	0
Fair Value, Recoveries	0	0
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0
Valuation Adjustment, Change in fair value recorded in earnings	(334)	0
Fair Value, Change in fair value recorded in earnings	(334)	0
Outstanding Principal Balance, Ending	9,724	0
Valuation Adjustment, Ending	(315)	0
Fair Value, Ending	$ 9,409	$ 0

Fair Value of Assets and Liab45

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
	Mar. 31, 2017	Mar. 31, 2016
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	$ 21,398
Fair value at end of period	22,360
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	2,846
Fair value at end of period	2,311
Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	21,398	$ 10,250
Issuances	5,317	5,631
Changes in fair value, included in servicing fees	(4,047)	232
Other net changes included in deferred revenue	(308)	851
Fair value at end of period	22,360	16,964
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	2,846	3,973
Issuances	274	932
Change in fair value, included in servicing fees	(809)	(2,078)
Other net changes included in deferred revenue	0	0
Fair value at end of period	$ 2,311	$ 2,827

Fair Value of Assets and Liab46

Fair Value of Assets and Liabilities - Trailing Fee Liability (Details) - Trailing Fee Liability - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 4,913	$ 0
Issuances	1,663	1,002
Cash payment of loan trailing fee	(826)	(4)
Change in fair value, included in origination and servicing	64	4
Fair value at end of period	$ 5,814	$ 1,002

Fair Value of Assets and Liab47

Fair Value of Assets and Liabilities - Additional Information about Servicing Assets and Liabilities Measured Using Different Market Servicing Rates and Different Prepayment (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in rate	0.10%	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%	0.63%
Assets, servicing rate increase by .1%	$ (5,889)	$ (5,673)
Liabilities, servicing rate increase by .1%	741	964
Assets, servicing rate decrease by .1%	5,987	5,812
Liabilities, servicing rate decrease by .1%	$ (643)	$ (825)

Fair Value of Assets and Liab48

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 4,305,464	$ 4,629,567
Total liabilities	4,042,482	4,328,654
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	246,940	287,137
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	4,058,524	4,342,430
Total liabilities	4,042,482	4,328,654
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	534,451	515,602
Restricted cash	148,890	177,810
Servicer reserve receivable	4,362	4,938
Deposits	855	855
Total assets	688,558	699,205
Accrued expenses and other liabilities	11,748	10,981
Accounts payable	7,470	10,889
Payables to investors	96,131	125,884
Total liabilities	115,349	147,754
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	0
Deposits	0	0
Total assets	0	0
Accrued expenses and other liabilities	0	0
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	0	0
Portion at Other than Fair Value Measurement | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	534,451	515,602
Restricted cash	148,890	177,810
Servicer reserve receivable	4,362	4,938
Deposits	855	855
Total assets	688,558	699,205
Accrued expenses and other liabilities	0	0
Accounts payable	7,470	10,889
Payables to investors	96,131	125,884
Total liabilities	103,601	136,773
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	0
Deposits	0	0
Total assets	0	0
Accrued expenses and other liabilities	11,748	10,981
Accounts payable	0	0
Payables to investors	0	0
Total liabilities	11,748	10,981
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	534,451	515,602
Restricted cash	148,890	177,810
Servicer reserve receivable	4,362	4,938
Deposits	855	855
Total assets	688,558	699,205
Accrued expenses and other liabilities	11,748	10,981
Accounts payable	7,470	10,889
Payables to investors	96,131	125,884
Total liabilities	$ 115,349	$ 147,754

Property, Equipment and Softw49

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Property, Plant and Equipment [Line Items]
Internally developed software	$ 86,238	$ 75,202
Leasehold improvements	22,802	22,637
Computer equipment	18,794	18,080
Purchased software	7,284	7,598
Furniture and fixtures	6,832	6,827
Construction in progress	777	707
Total property, equipment and software	142,727	131,051
Accumulated depreciation and amortization	(50,437)	(41,788)
Total property, equipment and software, net	92,290	89,263
Construction in Progress
Property, Plant and Equipment [Line Items]
Internally developed software	$ 12,600	$ 7,400

Property, Equipment and Softw50

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 10,254	$ 6,655
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 9,100	$ 5,400

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Other Assets [Abstract]
Other assets	$ 77,079	$ 69,644
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets	22,360	21,398
Prepaid expenses
Other Assets [Abstract]
Other assets	16,555	16,960
Other investments
Other Assets [Abstract]
Other assets	10,463	10,372
Insurance reimbursement receivable
Other Assets [Abstract]
Other assets	9,625	0
Accounts receivable
Other Assets [Abstract]
Other assets	7,096	7,572
Servicer reserve receivable
Other Assets [Abstract]
Other assets	4,362	4,938
Receivable from investors
Other Assets [Abstract]
Other assets	2,454	1,566
Tenant improvement receivable
Other Assets [Abstract]
Other assets	1,678	3,290
Due from related parties
Other Assets [Abstract]
Other assets	405	476
Other
Other Assets [Abstract]
Other assets	$ 2,081	$ 3,072

Intangible Assets and Goodwill

Intangible Assets and Goodwill - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016	Dec. 31, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	$ 25,049,000		$ 26,211,000
Amortization expense	1,200,000	$ 1,300,000
Goodwill	35,633,000		$ 35,633,000
Goodwill impairment	$ 0	$ 0

Accrued Expenses and Other Li53

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2017	Dec. 31, 2016
Payables and Accruals [Abstract]
Accrued expenses	$ 21,853	$ 19,734
Accrued compensation	19,774	27,009
Deferred rent	13,767	11,638
Transaction fee refund reserve	10,778	9,098
Loan trailing fee liability, at fair value	5,814	4,913
Loan servicing liabilities, at fair value	2,311	2,846
Deferred revenue	2,249	2,556
Credit loss coverage reserve	1,680	2,529
Reimbursement payable to limited partners of LCA private funds	1,520	2,313
Payable to issuing banks	896	1,658
Contingent liabilities	500	0
Other	2,196	1,325
Total accrued expenses and other liabilities	83,338	85,619
Accrued cash retention awards	$ 5,400	$ 3,000

Secured Borrowings (Details)

Secured Borrowings (Details) - USD ($)	3 Months Ended
	Jun. 30, 2016	Mar. 31, 2017	Mar. 31, 2016
Receivables [Abstract]
Repurchased near-prime loans	$ 22,300,000
Secured borrowings - amount originally sold to investor	$ 0	$ 0	$ 15,100,000

Employee Incentive Plans - Sche

Employee Incentive Plans - Schedule of Stock-Based Compensation Expense Recorded for Stock Options, Warrants and Series F Convertible Preferred Stock (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 19,498	$ 15,021
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,299	1,904
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,416	746
Engineering and product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	6,588	3,723
Other general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	9,195	8,648
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	4,345	7,657
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	14,634	5,126
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	385	388
Stock issued related to acquisition
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 134	$ 1,850

Employee Incentive Plans - Addi

Employee Incentive Plans - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2017	Mar. 31, 2016
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance period	1 year
Vesting period	2 years
Internally Developed Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount	$ 2.5	$ 1.9
Minimum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award issuance range	0.00%
Maximum | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award issuance range	200.00%
Share-based Compensation Award, Tranche One | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate	50.00%
Share-based Compensation Award, Tranche Two | Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting rate	50.00%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail) - USD ($) $ in Millions	Mar. 31, 2017	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Valuation allowance	$ 131.8	$ 75.3

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail)	1 Months Ended		3 Months Ended
	Aug. 31, 2016lawsuit	May 31, 2016lawsuit	Mar. 31, 2017USD ($)	Mar. 31, 2016USD ($)	May 05, 2017USD ($)	Dec. 31, 2016USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rental expense			$ 3,800,000	$ 3,200,000
Minimum rent payments			3,600,000	$ 2,200,000
Security deposit - cash			800,000
Security deposit - letters of credit			4,700,000
Operating Leases
2,017			11,500,000
2,018			16,065,000
2,019			15,633,000
2,020			16,534,000
2,021			16,790,000
Thereafter			41,223,000
Total			117,745,000
Subleases
2,017			258,000
2,018			310,000
2,019			39,000
2,020			0
2,021			0
Thereafter			0
Total			607,000
Net
2,017			11,242,000
2,018			15,755,000
2,019			15,594,000
2,020			16,534,000
2,021			16,790,000
Thereafter			41,223,000
Total			$ 117,138,000
Loan purchase obligation period			2 days
Contingent loan purchase commitment limit			$ 52,300,000			$ 32,200,000
Commitment repurchases			900,000
Loan commitment purchases			6,200,000
Commitments and Contingencies [Line Items]
Deposit			9,000,000
Purchases			1,700,000
Principal balance			$ 2,400,000
Support agreement - period			12 months
Reimbursement			$ 4,000,000
Credit loss coverage reserve			1,680,000			$ 2,529,000
Pledged and restricted to support contingent obligation			3,400,000
Maximum exposure			$ 6,000,000
Number of lawsuits | lawsuit	2	2
Subsequent Event
Commitments and Contingencies [Line Items]
Remaining limit of contingent loan purchase commitment					$ 0

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended
	Mar. 31, 2017customerSegmentsegment
Segment Reporting Information [Line Items]
Number of operating segments | Segment	1
Number of reportable segments | segment	1
Sales Revenue, Net
Segment Reporting Information [Line Items]
Number of individual customers and investors 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 ($) $ in Thousands	3 Months Ended
	Mar. 31, 2017	Apr. 01, 2016
Related Party Fund
Related Party Transaction [Line Items]
Loans	$ 22,500
Related Party Fund | Affiliated Entity
Related Party Transaction [Line Items]
Expense	2,300
Related Party Fund | Servicing Fees | Affiliated Entity
Related Party Transaction [Line Items]
Income	$ 354
Related Party Fund
Related Party Transaction [Line Items]
Equity method investment		$ 10,000
Ownership		15.00%
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%