LendingClub (LC) 10-Q 5 Aug 20 2020 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2020	Jul. 31, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2020
Entity File Number	001-36771
Entity Registrant Name	LendingClub Corporation
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0605731
Entity Address, Address Line One	595 Market Street, Suite 200,
Entity Address, City or Town	San Francisco,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	94105
City Area Code	415
Local Phone Number	632-5600
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	LC
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		90,502,335
Entity Central Index Key	0001409970
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q2
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 338,394	$ 243,779
Restricted cash	[1]	134,345	243,343
Securities available for sale (includes $245,083 and $271,173 at amortized cost, $15,571 and $0 in allowance for credit losses, and $148,809 and $174,849 pledged as collateral at fair value, respectively)		221,930	270,927
Loans held for investment at fair value	[1]	785,228	1,079,315
Loans held for investment by the Company at fair value	[1]	65,557	43,693
Loans held for sale by the Company at fair value	[1]	587,093	722,355
Accrued interest receivable	[1]	11,314	12,857
Property, equipment and software, net		106,697	114,370
Operating lease assets		79,407	93,485
Intangible assets, net		12,932	14,549
Other assets	[1]	109,702	143,668
Total assets		2,452,599	2,982,341
Liabilities and Equity
Accounts payable		2,951	10,855
Accrued interest payable	[1]	7,780	9,260
Operating lease liabilities		100,911	112,344
Accrued expenses and other liabilities	[1]	86,369	142,636
Payable to investors		49,405	97,530
Notes, certificates and secured borrowings at fair value	[1]	785,928	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	193,034	40,610
Credit facilities and securities sold under repurchase agreements	[1]	480,079	587,453
Total liabilities		1,706,457	2,082,154
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 195,627 and 0 shares issued, respectively; 195,627 and 0 shares outstanding, respectively		2	0
Common stock, $0.01 par value; 180,000,000 shares authorized; 70,938,835 and 89,218,797 shares issued, respectively; 70,938,835 and 88,757,406 shares outstanding, respectively		709	892
Additional paid-in capital		1,478,247	1,467,882
Accumulated deficit		(725,234)	(548,472)
Treasury stock, at cost; 0 and 461,391 shares, respectively		0	(19,550)
Accumulated other comprehensive loss		(7,582)	(565)
Total equity		746,142	900,187
Total liabilities and equity		$ 2,452,599	$ 2,982,341
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Restricted cash	[1]	$ 134,345	$ 243,343
Loans held for investment at fair value	[1]	785,228	1,079,315
Loans held for investment by the Company at fair value	[1]	65,557	43,693
Loans held for sale by the Company at fair value	[1]	587,093	722,355
Accrued interest receivable	[1]	11,314	12,857
Other assets	[1]	109,702	143,668
Total assets of consolidated variable interest entities		2,452,599	2,982,341
Accrued interest payable	[1]	7,780	9,260
Accrued expenses and other liabilities	[1]	86,369	142,636
Notes, certificates and secured borrowings at fair value	[1]	785,928	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	193,034	40,610
Credit facilities and securities sold under repurchase agreements	[1]	480,079	587,453
Total liabilities of consolidated variable interest entities		1,706,457	2,082,154
Securities available for sale, allowance for credit losses		15,571	0
Securities available for sale, pledged as collateral at fair value		148,809	174,849
Securities available for sale at amortized cost		$ 245,083	$ 271,173
Preferred stock, par value ($ per share)		$ 0.01
Preferred stock, authorized (shares)		10,000,000
Common stock, par value ($ per share)		$ 0.01	$ 0.01
Common stock, authorized (shares)		180,000,000	180,000,000
Common stock, shares issued		70,938,835	89,218,797
Common stock, shares outstanding		70,938,835	88,757,406
Treasury stock, shares		0	461,391
Series A Preferred Stock
Preferred stock, par value ($ per share)		$ 0.01	$ 0.01
Preferred stock, authorized (shares)		1,200,000	1,200,000
Preferred stock, issued (shares)		195,627	0
Preferred stock, outstanding (shares)		195,627	0
Consolidated VIEs
Restricted cash		$ 38,465	$ 30,046
Loans held for investment at fair value		101,742	197,842
Loans held for investment by the Company at fair value		64,634	40,251
Loans held for sale by the Company at fair value		482,726	551,455
Accrued interest receivable		4,918	4,431
Other assets		795	1,359
Total assets of consolidated variable interest entities		693,280	825,384
Accrued interest payable		2,032	3,185
Accrued expenses and other liabilities		103	244
Notes, certificates and secured borrowings at fair value		101,742	197,842
Payable to Structured Program note and certificate holders at fair value		193,034	40,610
Credit facilities and securities sold under repurchase agreements		294,510	387,251
Total liabilities of consolidated variable interest entities		$ 591,421	$ 629,132
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Net interest income and fair value adjustments:
Interest income		$ 60,560	$ 92,562	$ 129,971	$ 192,734
Interest expense		(37,766)	(66,916)	(82,007)	(142,276)
Net fair value adjustments		(6,378)	(35,974)	(108,116)	(70,703)
Net interest income and fair value adjustments		16,416	(10,328)	(60,152)	(20,245)
Gain on sales of loans		1,724	13,886	15,985	29,038
Net Investor Revenue		37,455	35,830	16,907	72,796
Other revenue		2,540	2,770	7,051	4,825
Total net revenue		43,869	190,807	164,075	365,225
Operating expenses:
Sales and marketing		8,723	69,323	58,507	135,946
Origination and servicing		17,830	24,931	38,824	53,204
Engineering and product development		39,167	43,299	77,877	85,845
Other general and administrative		56,620	64,324	115,106	121,200
Total operating expenses		122,340	201,877	290,314	396,195
Loss before income tax expense		(78,471)	(11,070)	(126,239)	(30,970)
Income tax expense (benefit)		0	(438)	319	(438)
Consolidated net loss		(78,471)	(10,632)	(126,558)	(30,532)
Less: Income attributable to noncontrolling interests		0	29	0	64
LendingClub net loss		(78,471)	(10,661)	(126,558)	(30,596)
Transaction fees
Net revenue, fees		3,874	152,207	140,117	287,604
Investor fees
Net revenue, fees		$ 19,315	$ 32,272	61,074	64,003
Common Stock
Operating expenses:
LendingClub net loss				$ (104,686)	$ (30,596)
Net loss per share – Basic and Diluted ($ per share)	[1]	$ (0.87)	$ (0.12)	$ (1.98)	$ (0.35)
Weighted-average common shares - Basic and Diluted (shares)	[1]	70,304,166	86,719,049	78,406,162	86,429,892
Preferred Stock
Operating expenses:
LendingClub net loss				$ (21,872)
Net loss per share – Basic and Diluted ($ per share)	[1]	$ (0.87)	$ 0	$ 2.56	$ 0
Weighted-average common shares - Basic and Diluted (shares)	[1]	19,562,714	0	11,071,212	0
[1]	See “ Notes to Condensed Consolidated Financial Statements – Note 4. Net Income (Loss) Per Share ” and “ Note 14. Stockholders' Equity ” for additional information.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Statement of Comprehensive Income [Abstract]
LendingClub net loss	$ (78,471)	$ (10,661)	$ (126,558)	$ (30,596)
Other comprehensive income (loss), before tax:
Net unrealized gain (loss) on securities available for sale	13,345	1,543	(7,336)	1,611
Other comprehensive income (loss), before tax	13,345	1,543	(7,336)	1,611
Income tax effect	0	438	(319)	438
Other comprehensive income (loss), net of tax	13,345	1,105	(7,017)	1,173
Less: Other comprehensive income attributable to noncontrolling interests	0	17	0	17
LendingClub other comprehensive income (loss), net of tax	13,345	1,088	(7,017)	1,156
LendingClub comprehensive loss	(65,126)	(9,573)	(133,575)	(29,440)
Comprehensive income attributable to noncontrolling interests	0	17	0	17
Total comprehensive loss	$ (65,126)	$ (9,556)	$ (133,575)	$ (29,423)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Equity Statement - USD ($) $ in Thousands		Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Treasury Stock	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit	Total Equity	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2018			0	85,928,127		456,540
Beginning balance at Dec. 31, 2018		$ 870,981	$ 0	$ 864	$ 1,405,392	$ (19,485)	$ 157	$ (517,727)	$ 869,201	$ 1,780
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		42,387			42,387				42,387
Net issuances under equity incentive plans, net of tax (in shares)				1,067,916
Net issuances under equity incentive plans, net of tax		(10,935)		$ 10	(10,945)				(10,935)
Employee stock purchase plan (ESPP) purchase shares (in shares)				163,970
Employee stock purchase plan (ESPP) purchase shares		2,412		$ 2	2,410				2,412
Net unrealized gain (loss) on securities available for sale, net of tax		1,173					1,156		1,156	17
Dividends paid and return of capital to noncontrolling interests		(1,165)								(1,165)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(30,532)						(30,596)	(30,596)	64
Ending balance (in shares) at Jun. 30, 2019			0	87,160,013		456,540
Ending balance at Jun. 30, 2019		874,321	$ 0	$ 876	1,439,244	$ (19,485)	1,313	(548,323)	873,625	696
Beginning balance (in shares) at Mar. 31, 2019			0	86,384,050		456,540
Beginning balance at Mar. 31, 2019		865,874	$ 0	$ 868	1,420,838	$ (19,485)	225	(537,662)	864,784	1,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		22,274			22,274				22,274
Net issuances under equity incentive plans, net of tax (in shares)				611,993
Net issuances under equity incentive plans, net of tax		(6,272)		$ 6	(6,278)				(6,272)
Employee stock purchase plan (ESPP) purchase shares (in shares)				163,970
Employee stock purchase plan (ESPP) purchase shares		2,412		$ 2	2,410				2,412
Net unrealized gain (loss) on securities available for sale, net of tax		1,105					1,088		1,088	17
Dividends paid and return of capital to noncontrolling interests		(440)								(440)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(10,632)						(10,661)	(10,661)	29
Ending balance (in shares) at Jun. 30, 2019			0	87,160,013		456,540
Ending balance at Jun. 30, 2019		874,321	$ 0	$ 876	1,439,244	$ (19,485)	1,313	(548,323)	873,625	696
Beginning balance (in shares) at Dec. 31, 2019			0	88,757,406		461,391
Beginning balance at Dec. 31, 2019		900,187	$ 0	$ 892	1,467,882	$ (19,550)	(565)	(548,472)	900,187	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		35,211			35,211				35,211
Net issuances under equity incentive plans, net of tax (in shares)	[1]			1,744,210		5,658
Net issuances under equity incentive plans, net of tax	[1]	(5,477)		$ 17	(5,423)	$ (71)			(5,477)
Issuance of preferred stock in exchange for common stock (in shares)	[2]		195,627	(19,562,781)
Issuance of preferred stock in exchange for common stock	[2]	(50,204)	$ 2	$ (196)	194			(50,204)	(50,204)
Retirement of treasury stock		(19,600)		$ (4)	(19,617)	$ 19,621
Retirement of treasury stock (in shares)				(467,049)		(467,049)
Net unrealized gain (loss) on securities available for sale, net of tax		(7,017)					(7,017)		(7,017)	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(126,558)						(126,558)	(126,558)	0
Ending balance (in shares) at Jun. 30, 2020			195,627	70,938,835		0
Ending balance at Jun. 30, 2020		746,142	$ 2	$ 709	1,478,247	$ 0	(7,582)	(725,234)	746,142	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payment of deemed dividend due to beneficial conversion feature		50,200
Beginning balance (in shares) at Mar. 31, 2020			195,628	69,869,214		0
Beginning balance at Mar. 31, 2020		796,546	$ 2	$ 699	1,463,535	$ 0	(20,927)	(646,763)	796,546	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		15,512			15,512				15,512
Net issuances under equity incentive plans, net of tax (in shares)	[1]			1,069,521
Net issuances under equity incentive plans, net of tax	[1]	(790)		$ 10	(800)				(790)
Issuance of preferred stock in exchange for common stock (in shares)			(1)	100
Net unrealized gain (loss) on securities available for sale, net of tax		13,345					13,345		13,345
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(78,471)						(78,471)	(78,471)
Ending balance (in shares) at Jun. 30, 2020			195,627	70,938,835		0
Ending balance at Jun. 30, 2020		$ 746,142	$ 2	$ 709	$ 1,478,247	$ 0	$ (7,582)	$ (725,234)	$ 746,142	$ 0
[1]	Includes shares that were transferred to the Company to satisfy payment of all or a portion of the exercise price in connection with the exercise of stock options.
[2]	Includes a payment of $50.2 million that was recorded as a deemed dividend within accumulated deficit related to the beneficial conversion feature of the Series A Preferred Stock issued on March 20, 2020, which would convert into common stock upon a sale by the preferred stockholder to a third party. See “ Note 14. Stockholders' Equity ” for additional information.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands		6 Months Ended
		Jun. 30, 2020	Jun. 30, 2019
Cash Flows from Operating Activities:
Consolidated net loss		$ (126,558)	$ (30,532)
Adjustments to reconcile consolidated net loss to net cash (used for) provided by operating activities:
Net fair value adjustments		108,116	70,703
Change in fair value of loan servicing assets and liabilities		34,664	23,044
Stock-based compensation, net		32,333	38,803
Depreciation and amortization		29,484	30,156
Gain on sales of loans		(15,985)	(29,038)
Other, net		6,861	13,106
Purchase of loans held for sale		(1,915,138)	(3,147,234)
Principal payments received on loans held for sale		152,811	129,131
Proceeds from whole loan sales and Structured Program transactions, net of underwriting fees and costs		1,727,554	3,062,348
Net change in operating assets and liabilities:
Accrued interest receivable, net		(7,897)	(7,046)
Other assets		37,261	3,410
Accounts payable		(7,746)	1,701
Accrued interest payable		(1,480)	(4,482)
Accrued expenses and other liabilities		(57,195)	(20,060)
Change in payable to investors	[1]	(51,452)	(87,809)
Net cash (used for) provided by operating activities		(54,367)	46,201
Cash Flows from Investing Activities:
Purchases of loans		(160,002)	(360,002)
Principal payments received on loans		389,802	662,565
Proceeds from recoveries and sales of charged-off loans		23,103	28,322
Purchases of securities available for sale		(47,443)	(72,537)
Proceeds from sales, maturities, redemptions and paydowns of securities available for sale		62,293	75,940
Proceeds from paydowns of asset-backed securities related to Structured Program transactions		67,048	39,569
Other investing activities		200	243
Purchases of property, equipment and software, net		(19,583)	(27,619)
Net cash provided by investing activities		315,418	346,481
Cash Flows from Financing Activities:
Proceeds from issuance of notes and certificates		159,894	359,846
Repayments of secured borrowings		(11,731)	(35,670)
Principal payments on and retirements of notes and certificates		(375,723)	(642,951)
Payments on notes, certificates, and secured borrowings from recoveries/sales of related charged-off loans		(22,450)	(27,547)
Principal payments on securitization notes		(28,398)	(45,440)
Proceeds from issuance of notes and certificates from Structured Program transactions		186,190	0
Proceeds from credit facilities and securities sold under repurchase agreements		1,050,551	1,014,953
Principal payments on credit facilities and securities sold under repurchase agreements		(1,158,096)	(1,149,453)
Payment for debt issuance costs		(264)	(1,334)
Deemed dividend paid to preferred stockholder		(50,204)	0
Other financing activities		(25,203)	(8,397)
Net cash provided by (used for) financing activities		(275,434)	(535,993)
Net Decrease in Cash, Cash Equivalents and Restricted Cash		(14,383)	(143,311)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period		487,122	644,058
Cash, Cash Equivalents and Restricted Cash, End of Period		472,739	500,747
Supplemental Cash Flow Information:
Cash paid for interest		38,791	148,038
Cash paid for operating leases included in the measurement of lease liabilities		7,951	8,258
Non-cash investing activity:
Accruals for property, equipment and software		1,023	5,330
Net securities retained from Structured Program transactions		43,883	92,938
Non-cash investing and financing activity:
Transfer of whole loans to redeem certificates		17,414	0
Non-cash financing activity:
Exchange of common stock for preferred stock		207,244	0
Derecognition of payable to securitization note and residual certificate holders held in consolidated VIE		$ 0	$ 213,326
[1]	Change in payable to investors was previously presented as cash flows from financing activities. Prior period amounts have been reclassified to conform to the current period presentation.

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Parenthetical) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Cash and cash equivalents		$ 338,394	$ 243,779
Restricted cash	[1]	134,345	243,343
Total cash, cash equivalents and restricted cash		$ 472,739	$ 487,122	$ 500,747	$ 644,058
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Basis of Presentation

Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation LendingClub Corporation (LendingClub) operates an online lending marketplace platform that connects borrowers and investors. Various wholly-owned subsidiaries of LendingClub have been established to enter into borrowing agreements with certain lenders for secured credit facilities. Additionally, LendingClub has established various entities to facilitate loan sale transactions, including sponsoring asset-backed securitization transactions and Certificate Program transactions (collectively referred to as Structured Program transactions), where certain accredited investors and qualified institutional buyers have the opportunity to invest in senior and subordinated securities backed by a pool of unsecured personal whole loans. Certificate Program transactions include CLUB Certificate and Levered Certificate transactions. LC Trust I (the LC Trust) is an independent Delaware business trust that acquires loans from LendingClub and holds them for the sole benefit of certain investors that have purchased trust certificates issued by the LC Trust that are related to specific underlying loans for the benefit of the investor. Springstone Financial, LLC (Springstone), is a wholly-owned subsidiary of LendingClub that facilitates education and patient finance loans originated by third-party issuing banks. The accompanying unaudited condensed consolidated financial statements include LendingClub, its subsidiaries (collectively referred to as the Company, we, or us) and consolidated variable interest entities (VIEs). Noncontrolling interests are reported as a separate component of consolidated equity from the equity attributable to LendingClub’s stockholders for all periods presented. 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, in the opinion of management, 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. These estimates and assumptions are inherently subjective in nature and actual results may differ from these estimates and assumptions, and the differences could be material. Results reported in interim periods are not necessarily indicative of results for the full year or any other interim period. Certain prior period amounts have been reclassified to conform to the current period presentation. The Company presents loans under a number of different captions to align the assets to their associated liabilities, if any. “Loans held for investment at fair value” are loans which are related to the Company’s retail notes, certificates and secured borrowings program. The Company is not exposed to market risk, interest rate risk or credit risk on these loans and all loan cash flows flow directly to the retail note, certificate and secured borrowing owners. The associated liability for this loan category is included in the caption “Notes, certificates and secured borrowings at fair value.” Loans included in “Loans held for investment by the Company at fair value” and “Loans held for sale by the Company at fair value” are loans which the Company has purchased and from which the Company earns interest income and records net fair value adjustments in earnings for changes in the valuation of loans. 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, 2019 (Annual Report) filed on February 19, 2020.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
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 changes to these significant accounting policies for the six month period ended June 30, 2020 , except as noted below. Securities Available for Sale Debt securities that the Company might not hold until maturity are classified as securities available for sale. In structured program transactions that meet the applicable criteria to be accounted for as a sale, the Company retains certain asset-backed securities including subordinated residual interests and CLUB Certificates, which are classified as securities available for sale. On January 1, 2020, the entity adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (CECL) for securities available for sale. Asset-backed securities where the expected cash flows are significantly lower than that of the contractual future cash flows are considered to be purchased with credit deterioration (PCD). The discounted differential in expected and contractual cash flows is included with the purchase price of the asset to determine amortized cost of the security with an equal and offsetting valuation allowance for credit losses. Securities available for sale are recorded at fair value and unrealized gains and losses are reported, net of taxes, in “Accumulated other comprehensive income (loss)” included in Equity in the Company’s Consolidated Balance Sheets, unless management determines that the security is impaired due to a deterioration in expected cash flows, in which case the unrealized loss is recognized in earnings within “Net fair value adjustments” as a valuation allowance for credit losses (with the implementation of CECL) or other-than-temporary impairment (prior to the implementation of CECL) in the Company’s Condensed Consolidated Statements of Operations . Management evaluates whether debt securities available for sale with unrealized losses are impaired on a quarterly basis. If the Company intends to sell the security, or if it is more likely than not that it will be required to sell the security before recovery, an impairment is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the debt security. However, even if the Company does not expect to sell a debt security it must evaluate if a deterioration in cash flows exists. Accrued Interest Receivable on Loans The Company does not record an allowance for credit losses on accrued interest receivable. The Company places loans on non-accrual status at 90 days past due. When a loan is placed on non-accrual status, the Company stops accruing interest and reverses all accrued but unpaid interest income as of such date. The Company accrues interest income on loans on short term hardship programs using the effective interest rate method. Net Income (Loss) Per Share Basic net income (loss) per share (Basic EPS) attributable to common stockholders is computed by dividing net income (loss) attributable to LendingClub by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share (Diluted EPS) is computed by dividing net income (loss) attributable to LendingClub by the weighted-average number of common shares outstanding during the period, adjusted for the effects of dilutive issuances of shares of common stock, which include incremental shares issued for outstanding RSUs, PBRSUs, and stock options. PBRSUs are included in dilutive shares to the extent the pre-established performance targets have been or are estimated to be satisfied as of the reporting date. The dilutive potential common shares are computed using the treasury stock method. The effects of outstanding RSUs, PBRSUs, and stock options are excluded from the computation of Diluted EPS in periods in which the effect would be antidilutive. For periods with more than one class of common shares, the Company computes Basic and Diluted EPS using the two-class method, which is an allocation of net income (loss) among the holders of each class of common shares. The Series A Preferred Stock is considered a separate class of common share for purposes of calculating net income (loss) per share because it participates in earnings similar to common stock and does not receive any significant preferences over the common stock. Beneficial Conversion Feature The Company accounts for the beneficial conversion feature (BCF) on its Series A Preferred Stock in accordance with ASC 470-20, Debt with Conversion and Other Options . The Company accretes the BCF discount from the date of issuance to the earliest conversion date, which was March 20, 2020. All of the BCF discount was accreted and recognized as a deemed dividend in “Accumulated deficit” on the Company’s Condensed Consolidated Balance Sheets. See “ Note 14. Stockholders' Equity ” for additional information. Adoption of New Accounting Standards The Company adopted the following accounting standards during the six month period ended June 30, 2020 : On January 1, 2020, the entity adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . For loans accounted for at amortized cost, the guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. As the Company has elected the fair value option for loans and loans accounted for at fair value through net income are outside the scope of Topic 326, there is no impact on the Company’s loan portfolios. For debt securities available for sale, Topic 326 requires recognition of expected credit losses by recognizing an allowance for credit losses when the fair value of the security is below amortized cost and the recognition of this allowance is limited to the difference between the security’s amortized cost basis and fair value. Upon adoption, the amendments in Topic 326 are recognized through a cumulative-effect adjustment to retained earnings, except for debt securities with prior other-than-temporary impairment whereby Topic 326 is applied prospectively. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As a result, the amortized cost basis remains the same before and after the effective date of ASC 326. The effective interest rate on these debt securities was not changed. Amounts previously recognized in accumulated other comprehensive income as of January 1, 2020 relating to improvements in cashflows expected to be collected are accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after January 1, 2020 are recorded in earnings when received. Additionally, the Company adopted ASC 326 using the prospective transition approach for PCD financial assets. The Company did not have any previously classified assets as purchased credit impaired (PCI) under ASC 310-30. In accordance with this standard, management did not reevaluate for PCD upon transition. Adoption of Topic 326 did not have an impact on the Company’s financial position, results of operations, and cash flows. The Company did not record a cumulative effect adjustment to retained earnings. The Company included the disclosures required by ASU 2016-13 in “ Note 5. Securities Available for Sale . ” In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement , which modifies the disclosure requirements on fair value measurements by removing, modifying, or adding certain disclosures. The ASU eliminates such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and valuation processes for Level 3 fair value measurements. The ASU adds new disclosure requirements for Level 3 measurements. The new guidance became effective on January 1, 2020 and did not have a material impact on the Company’s related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software – (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which requires a customer in a hosting arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. The standard became effective on January 1, 2020 and the Company adopted the standard using the prospective approach. The Company has reviewed existing cloud computing arrangements and determined which ones are service contracts. Implementation costs that are not from internal developers related to service contracts that satisfy the criteria for capitalization under ASC 350-40 will be presented with “Other assets” on the Company’s Consolidated Balance Sheets, amortization expense will be presented in the same line on the income statement as the fees for the associated hosted service on the Company’s Consolidated Statements of Operations, and the cash flows will be presented consistent with the presentation of cash flows for the fees related to the hosted service, generally as cash flows from operations, on the Company’s Consolidated Statements of Cash Flows. Adoption of the standard did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures. New Accounting Standards Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is part of the FASB’s initiative to reduce complexity in accounting standards. The proposed ASU eliminates certain exceptions to the general principles of ASC 740, Income Taxes , and simplifies income tax accounting in several areas. The standard is effective on January 1, 2021 with early adoption permitted. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures, but does not expect such adoption to have a material impact. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which, if certain criteria are met, provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform. These transactions include contract modifications, hedging relationships, and sale or transfer of debt securities classified as held-to-maturity. The provisions of the new standard may be adopted as of the beginning of the reporting period when the election is made until December 31, 2022. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures. The Company has not elected an adoption date.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers The Company’s revenue from contracts with customers includes transaction fees and referral fees. Referral fees are presented as a component of “Other revenue” in the Condensed Consolidated Statements of Operations . The following tables present the Company’s revenue from contracts with customers, disaggregated by revenue source for services transferred over time, for the second quarters and first halves of 2020 and 2019 : Three Months Ended 2020 2019 Transaction fees $ 3,874 $ 152,207 Referral fees 625 1,328 Total revenue from contracts with customers $ 4,499 $ 153,535 Six Months Ended 2020 2019 Transaction fees $ 140,117 $ 287,604 Referral fees 2,239 2,023 Total revenue from contracts with customers $ 142,356 $ 289,627 The Company recognizes transaction and referral fees at each distinct instance after the Company satisfies its performance obligations. The Company had no bad debt expense for the second quarters and first halves of 2020 and 2019 . Because revenue is recognized at the same time that payments are received, the Company had no contract assets, contract liabilities, or deferred contract costs recorded as of both June 30, 2020 and December 31, 2019 . Additionally, the Company did not recognize any revenue from performance obligations related to prior periods (for example, due to changes in transaction price) for the second quarters and first halves of 2020 and 2019 . For additional detail on the Company’s accounting policy regarding revenue recognition, see “ Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Note 2. Summary of Significant Accounting Policies ” in the Company’s Annual Report.

Net Income (Loss) Per Share

Net Income (Loss) Per Share	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Net Income (Loss) Per Share	Net Income (Loss) Per Share The following tables detail the computation of the Company’s basic and diluted net income (loss) per share of common stock and Series A Preferred Stock: Three Months Ended June 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Net loss attributable to stockholders $ (61,389 ) $ (17,082 ) $ (10,661 ) Weighted-average common shares – Basic and Diluted (2) 70,304,166 19,562,714 86,719,049 Net loss per share attributable to stockholders – Basic and Diluted (2) $ (0.87 ) $ (0.87 ) $ (0.12 ) Six Months Ended June 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Allocation of undistributed LendingClub net loss $ (104,686 ) $ (21,872 ) $ (30,596 ) Deemed dividend (50,204 ) 50,204 — Net income (loss) attributable to stockholders $ (154,890 ) $ 28,332 $ (30,596 ) Weighted-average common shares – Basic and Diluted (2) 78,406,162 11,071,212 86,429,892 Net income (loss) per share attributable to stockholders – Basic and Diluted (2) $ (1.98 ) $ 2.56 $ (0.35 ) (1) Presented on an as-converted basis. (2) See “ Note 2. Summary of Significant Accounting Policies ” and “ Note 14. Stockholders' Equity ” for additional information. In February 2020, the Company entered into an exchange agreement with its largest stockholder, Shanda Asset Management Holdings Limited and its affiliates (Shanda), pursuant to which, on March 20, 2020, Shanda exchanged all of 19,562,881 shares of LendingClub common stock, par value of $0.01 per share, held by it for (i) 195,628 newly issued shares of mandatorily convertible, non-voting, LendingClub preferred stock, series A (Series A Preferred Stock), par value of $0.01 per share, and (ii) a one-time cash payment of $50.2 million . The Series A Preferred Stock is considered a separate class of common shares for purposes of calculating net income (loss) per share because it participates in earnings similar to common stock and does not receive any significant preferences over the common stock. See “ Note 14. Stockholders' Equity ,” for additional information. During the period that included the Company’s preferred stock, Basic and Diluted EPS were computed using the two-class method, which is a net income (loss) allocation that determines EPS for each class of common stock according to dividends declared and participation rights in undistributed income (loss). The following table summarizes the weighted-average common stock that were excluded from the Company’s diluted net income (loss) per share computation because their effect would have been anti-dilutive for the periods presented: Three Months Ended Six Months Ended 2020 2019 2020 2019 Preferred stock 19,562,714 — 11,071,212 — Stock options 196,009 883,665 250,092 881,637 RSUs and PBRSUs 1,368 215,235 16,336 163,213 Total 19,760,091 1,098,900 11,337,640 1,044,850

Securities Available for Sale

Securities Available for Sale	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Securities Available for Sale	Securities Available for Sale The Company’s Structured Program transactions include (i) asset-backed securitization transactions and (ii) Certificate Program transactions. Certificate Program transactions include CLUB Certificate and Levered Certificate transactions. In connection with asset-backed securitizations, the Company is the sponsor and establishes trusts to ultimately purchase the unsecured personal loans from the Company and/or third-party whole loan investors. Securities issued from our asset-backed securitizations are senior or subordinated based on the waterfall criteria of loan payments to each security class. The subordinated residual interests issued from these transactions are first to absorb credit losses in accordance with the waterfall criteria. The assets are transferred into a trust such that the assets are legally isolated from the creditors of the Company and are not available to satisfy obligations of the Company. These assets can only be used to settle obligations of the underlying trusts. The asset-backed securitization senior securities and subordinated residual interests retained by the Company are presented as “Asset-backed senior securities” and “Asset-backed subordinated securities,” respectively, in the securities available for sale tables below. In addition, the Company sponsors the sale of unsecured personal loans through the issuance of certificate securities under our Certificate Program. The certificate securities are collateralized by loans transferred to a series of a master trust and trade in the over-the-counter market with a CUSIP. The assets are transferred into a trust such that the assets are legally isolated from the creditors of the Company and are not available to satisfy obligations of the Company. These assets can only be used to settle obligations of the underlying Certificate Program trusts. The CLUB Certificate issued securities are pass-through securities of which each owner has an undivided and equal interest in the underlying loans of each transaction. The Levered Certificate issued securities include senior and subordinated securities based on the waterfall criteria of loan payments to each security class. The subordinated securities issued from these transactions are first to absorb credit losses in accordance with the waterfall criteria. The CLUB Certificate issued securities retained by the Company are presented as “CLUB Certificate asset-backed securities” in the securities available for sale tables below. The Levered Certificate issued senior and subordinated securities retained by the Company are presented in aggregate with securities from asset-backed securitizations as “Asset-backed senior securities” and “Asset-backed subordinated securities,” respectively, in the tables below. The “Other asset-backed securities” caption in the tables below primarily includes investment-grade rated bonds that are collateralized by automobile loan receivables. The amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value of securities available for sale as of June 30, 2020 and December 31, 2019 , were as follows: June 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Asset-backed senior securities (1)(2) $ 98,300 $ 5 $ (3,689 ) $ — $ 94,616 CLUB Certificate asset-backed securities (1) 86,000 79 (2,858 ) (6,587 ) 76,634 Asset-backed subordinated securities (1) 29,106 243 (1,409 ) (8,984 ) 18,956 Corporate debt securities 8,502 30 — — 8,532 Commercial paper 8,293 — — — 8,293 Other asset-backed securities 8,182 17 — — 8,199 Certificates of deposit 6,700 — — — 6,700 Total securities available for sale $ 245,083 $ 374 $ (7,956 ) $ (15,571 ) $ 221,930 December 31, 2019 Amortized Gross Gross Fair Asset-backed senior securities (1)(2) $ 108,780 $ 597 $ (38 ) $ 109,339 CLUB Certificate asset-backed securities (1) 90,728 41 (1,063 ) 89,706 Asset-backed subordinated securities (1) 20,888 423 (221 ) 21,090 Corporate debt securities 14,333 11 (1 ) 14,343 Certificates of deposit 13,100 — — 13,100 Other asset-backed securities 12,075 6 (1 ) 12,080 Commercial paper 9,274 — — 9,274 U.S. agency securities 1,995 — — 1,995 Total securities available for sale $ 271,173 $ 1,078 $ (1,324 ) $ 270,927 (1) As of June 30, 2020 and December 31, 2019 , $173.8 million and $219.0 million , respectively, of the asset-backed securities related to Structured Program transactions at fair value are subject to restrictions on transfer pursuant to the Company's obligations as a “sponsor” under the U.S. Risk Retention Rules (as more fully described in “ Part I – Item 1A. Risk Factors – Risk retention rules may increase our compliance costs, impair our liquidity and otherwise adversely affect our operating results ” in the Annual Report.). (2) As of June 30, 2020 , and December 31, 2019 , includes $148.8 million and $174.8 million , respectively, of securities pledged as collateral at fair value. A summary of securities available for sale with unrealized losses for which an allowance for credit losses has not been recorded as of June 30, 2020 and December 31, 2019 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total June 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Asset-backed securities related to Structured Program transactions $ 116,173 $ (7,935 ) $ 1,201 $ (21 ) $ 117,374 $ (7,956 ) Corporate debt securities 1,451 — — — 1,451 — Total securities with unrealized losses (1) $ 117,624 $ (7,935 ) $ 1,201 $ (21 ) $ 118,825 $ (7,956 ) Less than 12 months Total December 31, 2019 Fair Unrealized Fair Unrealized Fair Unrealized Asset-backed securities related to Structured Program transactions $ 91,350 $ (1,287 ) $ 1,875 $ (35 ) $ 93,225 $ (1,322 ) Corporate debt securities 4,613 (1 ) — — 4,613 (1 ) Other asset-backed securities 3,062 (1 ) — — 3,062 (1 ) Total securities with unrealized losses (1) $ 99,025 $ (1,289 ) $ 1,875 $ (35 ) $ 100,900 $ (1,324 ) (1) The number of investment positions with unrealized losses at June 30, 2020 and December 31, 2019 totaled 131 and 70 , respectively. The Company recorded an allowance for credit loss on those securities where there was a deterioration in future estimated cash flows. The Company also recorded unrealized losses on securities with fair value price reductions due to higher liquidity premiums observed due to the market dislocation related to COVID-19. The Company deemed it not necessary to record unrealized losses as an allowance for credit loss for certain securities due to the nature of those securities and their investment grade quality. During the second quarter and first half of 2020 , the Company recognized $(3.5) million and $7.5 million in credit recovery and loss expense, respectively. During the second quarter and first half of 2019 , the Company recognized $0.1 million and $1.3 million in other-than-temporary impairment charges, respectively, on its asset-backed securities related to Structured Program transactions. There were no credit losses recognized into earnings for other-than-temporarily impaired securities held by the Company during the second quarter and first half of 2019 for which a portion of the impairment was previously recognized in other comprehensive income. The following table presents the activity in the allowance for credit losses for securities available for sale, by major security type, for the second quarter and first half of 2020 : Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of March 31, 2020 $ (8,638 ) $ (10,197 ) $ (18,835 ) Provision for credit loss expense 2,051 1,460 3,511 Allowance arising from PCD financial assets — (247 ) (247 ) Ending balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 ) Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of January 1, 2020 $ — $ — $ — Provision for credit loss expense (2,633 ) (4,836 ) (7,469 ) Allowance arising from PCD financial assets (3,954 ) (4,148 ) (8,102 ) Ending balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 ) Securities available for sale purchased with credit deterioration during the second quarter and first half of 2020 were as follows: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Purchase price of PCD securities at acquisition $ 2,426 $ 25,469 Allowance for credit losses on PCD securities at acquisition 247 8,102 Par value of acquired PCD securities at acquisition $ 2,673 $ 33,571 The contractual maturities of securities available for sale at June 30, 2020 , were as follows: Amortized Cost Fair Value Within 1 year: Corporate debt securities $ 8,502 $ 8,532 Certificates of deposit 6,700 6,700 Other asset-backed securities 4,410 4,414 Commercial paper 8,293 8,293 Total 27,905 27,939 After 1 year through 5 years: Other asset-backed securities 3,772 3,785 Total 3,772 3,785 Asset-backed securities related to Structured Program transactions 213,406 190,206 Total securities available for sale $ 245,083 $ 221,930 During the second quarter and first half of 2020 , the Company, Consumer Loan Underlying Bond Depositor LLC (Depositor), a subsidiary of the Company, and a majority-owned affiliate (MOA) of the Company sold a combined $0.4 million and $1.0 billion , respectively, in asset-backed securities related to Structured Program transactions. During the second quarter and first half of 2019 , the Company and Consumer Loan Underlying Bond Depositor LLC (Depositor), a subsidiary of the Company, sold a combined $1.2 billion and $2.0 billion , respectively, in asset-backed securities related to Structured Program transactions. There were no realized gains or losses related to such sales. For further information, see “ Note 7. Securitizations and Variable Interest Entities .” Proceeds and gross realized gains and losses from other sales of securities available for sale were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Proceeds $ — $ 3,300 $ 2,396 $ 6,400 Gross realized gains $ — $ — $ 3 $ — Gross realized losses $ (2 ) $ — $ (4 ) $ —

Loans Held For Investment, Loan

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings	Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings Loans Held for Investment, Notes, Certificates and Secured Borrowings The Company issues member payment dependent notes and the LC Trust issues certificates as a means to allow investors to invest in the corresponding loans. At June 30, 2020 and December 31, 2019 , loans held for investment, notes, certificates and secured borrowings measured at fair value on a recurring basis were as follows: Loans Held for Investment Notes, Certificates and Secured Borrowings June 30, December 31, June 30, December 31, Aggregate principal balance outstanding $ 851,476 $ 1,148,888 $ 851,476 $ 1,148,888 Net fair value adjustments (66,248 ) (69,573 ) (65,548 ) (67,422 ) Fair value $ 785,228 $ 1,079,315 $ 785,928 $ 1,081,466 At June 30, 2020 and December 31, 2019 , a fair value of $6.0 million and $18.0 million included in “Loans Held for Investment at fair value” was pledged as collateral for secured borrowings, respectively. The following table provides the balances of notes, certificates and secured borrowings at fair value at the end of the periods indicated: June 30, December 31, Notes $ 677,589 $ 863,488 Certificates 101,742 197,842 Secured borrowings 6,597 20,136 Total notes, certificates and secured borrowings $ 785,928 $ 1,081,466 Loans Invested in by the Company At June 30, 2020 and December 31, 2019 , loans invested in by the Company for which there were no associated notes, certificates or secured borrowings (with the exception of $189.6 million and $40.3 million in loans at fair value in consolidated trusts as of June 30, 2020 and December 31, 2019 , respectively) were as follows: Loans Invested in by the Company Loans Held for Investment Loans Held for Sale Total June 30, December 31, June 30, December 31, June 30, December 31, Aggregate principal balance outstanding $ 75,159 $ 47,042 $ 668,262 $ 747,394 $ 743,421 $ 794,436 Net fair value adjustments (9,602 ) (3,349 ) (81,169 ) (25,039 ) (90,771 ) (28,388 ) Fair value $ 65,557 $ 43,693 $ 587,093 $ 722,355 $ 652,650 $ 766,048 The net fair value adjustments of $(90.8) million and $(28.4) million represent net unrealized losses recorded in earnings on loans invested in by the Company at June 30, 2020 and December 31, 2019 , respectively. Total fair value adjustments recorded in earnings on loans invested in by the Company of $(1.3) million and $(104.5) million during the second quarter and first half of 2020 , respectively, and $(35.2) million and $(67.7) million during the second quarter and first half of 2019 , respectively, include net realized losses and changes in net unrealized losses. Net interest income earned on loans invested in by the Company during the second quarter and first half of 2020 was $20.3 million and $42.0 million , respectively. Net interest income earned on loans invested in by the Company during the second quarter and first half of 2019 was $21.1 million and $41.6 million , respectively. The Company used its own capital to purchase $23.7 million loans and sold $112.5 million in loans during the second quarter of 2020 which were all sold to whole loan investors. During the second quarter of 2020 , no loans were securitized or sold to series trusts in connection with the Company’s Certificate Program. The fair value of loans invested in by the Company was $652.7 million at June 30, 2020 , which was held for sale primarily for future anticipated Structured Program transactions and sales to loan investors. In the first quarter of 2020 and fourth quarter of 2019, the Company sponsored Structured Program transactions that were consolidated, resulting in the recognition of $189.6 million in loans held by the Company at fair value and a related payable to Structured Program note and certificate holders at fair value of $193.0 million as of June 30, 2020 . See “ Note 7. Securitizations and Variable Interest Entities ” and “ Note 13. Debt ” for further discussion on the Company’s consolidated trusts and “ Note 8. Fair Value of Assets and Liabilities ” for a fair value rollforward of loans invested in by the Company for the second quarters and first halves of 2020 and 2019 . At June 30, 2020 and December 31, 2019 , loans with a fair value of $357.7 million and $551.5 million included in “Loans held for sale by the Company at fair value” was pledged as collateral for the Company’s warehouse credit facilities, respectively. See “ Note 13. Debt ” for additional information related to these debt obligations. Loans that were 90 days or more past due (including non-accrual loans) were as follows: June 30, December 31, Loans held for investment: Outstanding principal balance $ 5,870 $ 10,755 Net fair value adjustments (4,928 ) (9,663 ) Fair value $ 942 $ 1,092 Number of loans (not in thousands) 1,166 1,428 Loans invested in by the Company: Outstanding principal balance $ 2,231 $ 2,315 Net fair value adjustments (1,868 ) (2,016 ) Fair value $ 363 $ 299 Number of loans (not in thousands) 230 338

Securitizations and Variable In

Securitizations and Variable Interest Entities	6 Months Ended
	Jun. 30, 2020
Transfers and Servicing [Abstract]
Securitization and Variable Interest Entities	Securitizations and Variable Interest Entities VIE Assets and Liabilities The following tables provide the classifications of assets and liabilities on the Company’s Condensed Consolidated Balance Sheets for its transactions with consolidated and unconsolidated VIEs at June 30, 2020 and December 31, 2019 . Additionally, the assets and liabilities in the table below exclude intercompany balances that eliminate in consolidation: June 30, 2020 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 38,465 $ — $ 38,465 Securities available for sale at fair value — 190,206 190,206 Loans held for investment at fair value 101,742 — 101,742 Loans held for investment by the Company at fair value 64,634 — 64,634 Loans held for sale by the Company at fair value 482,726 — 482,726 Accrued interest receivable 4,918 99 5,017 Other assets 795 43,319 44,114 Total assets $ 693,280 $ 233,624 $ 926,904 Liabilities Accrued interest payable $ 2,032 $ — $ 2,032 Accrued expenses and other liabilities 103 — 103 Notes, certificates and secured borrowings at fair value 101,742 — 101,742 Payable to Structured Program note and certificate holders at fair value 193,034 — 193,034 Credit facilities and securities sold under repurchase agreements 294,510 — 294,510 Total liabilities 591,421 — 591,421 Total net assets $ 101,859 $ 233,624 $ 335,483 December 31, 2019 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 30,046 $ — $ 30,046 Securities available for sale at fair value — 220,135 220,135 Loans held for investment at fair value 197,842 — 197,842 Loans held for investment by the Company at fair value 40,251 — 40,251 Loans held for sale by the Company at fair value 551,455 — 551,455 Accrued interest receivable 4,431 877 5,308 Other assets 1,359 52,098 53,457 Total assets $ 825,384 $ 273,110 $ 1,098,494 Liabilities Accrued interest payable $ 3,185 $ — $ 3,185 Accrued expenses and other liabilities 244 — 244 Notes, certificates and secured borrowings at fair value 197,842 — 197,842 Payable to Structured Program note and certificate holders at fair value 40,610 — 40,610 Credit facilities and securities sold under repurchase agreements 387,251 — 387,251 Total liabilities 629,132 — 629,132 Total net assets $ 196,252 $ 273,110 $ 469,362 Consolidated VIEs The Company consolidates VIEs when it is deemed to be the primary beneficiary. See “ Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Note 2. Summary of Significant Accounting Policies ” in the Annual Report for additional information. LC Trust The Company established the LC Trust for the purpose of acquiring and holding loans for the sole benefit of certain investors that have purchased trust certificates issued by the LC Trust. The Company is obligated to ensure that the LC Trust meets minimum capital requirements with respect to funding the administrative activities and maintaining the operations of the LC Trust. Consolidated Trusts The Company establishes trusts to facilitate the sale of loans and issuance of senior and subordinated securities. If the Company is the primary beneficiary of the trust, it is a consolidated VIE and will reflect senior and subordinated securities held by third parties as a “Payable to Structured Program note and certificate holders at fair value” in the Company’s Condensed Consolidated Balance Sheets . If subsequently the Company is not the primary beneficiary of the trust, the Company will deconsolidate the VIE. See “ Note 13. Debt ” for additional information. Warehouse Credit Facilities The Company established certain entities (deemed to be VIEs) to enter into warehouse credit facilities for the purpose of purchasing loans from LendingClub. See “ Note 13. Debt ” for additional information. The following tables present a summary of financial assets and liabilities from the Company’s involvement with consolidated VIEs at June 30, 2020 and December 31, 2019 : June 30, 2020 Assets Liabilities Net Assets LC Trust $ 105,189 $ (102,825 ) $ 2,364 Consolidated trusts 204,345 (193,387 ) 10,958 Warehouse credit facilities 383,746 (295,209 ) 88,537 Total consolidated VIEs $ 693,280 $ (591,421 ) $ 101,859 December 31, 2019 Assets Liabilities Net Assets LC Trust $ 201,696 $ (199,520 ) $ 2,176 Consolidated trusts 43,300 (40,687 ) 2,613 Warehouse credit facilities 580,388 (388,925 ) 191,463 Total consolidated VIEs $ 825,384 $ (629,132 ) $ 196,252 The creditors of the VIEs above have no recourse to the general credit of the Company as the primary beneficiary of the VIEs and the liabilities of the VIEs can only be settled by the respective VIE’s assets. Unconsolidated VIEs The Company’s transactions with unconsolidated VIEs include asset-backed securitizations, Certificate Program transactions and loan sale transactions of unsecured personal loans. The Company has various forms of involvement with VIEs, including servicing of loans and holding senior or subordinated residual interests in the VIEs. The accounting for these transactions is based on a primary beneficiary analysis to determine whether the underlying VIEs should be consolidated. If the VIEs are not consolidated and the transfer of the loans from the Company to the VIE meets sale accounting criteria, then the Company will recognize a gain or loss on sales of loans. The Company considers continued involvement in an unconsolidated VIE insignificant if it is the sponsor and servicer and does not hold other significant variable interests. In these instances, the Company’s involvement with the VIE is in the role as an agent and without significant participation in the economics of the VIE. The Company enters into separate servicing agreements with the VIEs and holds at least 5% of the beneficial interests issued by the VIEs to comply with regulatory risk retention rules. The beneficial interests retained by the Company consist of senior securities and subordinated securities and are accounted for as securities available for sale. In connection with these transactions, we make certain customary representations, warranties and covenants. See “ Part II – Item 8. Financial Statements and Supplementary Data – Notes to Consolidated Financial Statements – Note 2. Summary of Significant Accounting Policies ” in the Annual Report for additional information. Investment Fund The Company has an equity investment in a private fund (Investment Fund) that participates in a family of funds with other unrelated third parties. This family of funds purchases assets from third parties unrelated to the Company and historically purchased whole loans and interests in loans from the Company. As of June 30, 2020 , the Company had an ownership interest of approximately 23% in the Investment Fund. The Company’s investment is deemed to be a variable interest in the Investment Fund because the Company shares in the expected returns and losses of the Investment Fund. At June 30, 2020 , the Company’s investment was $7.8 million , which is recognized in “Other assets” on the Company’s Condensed Consolidated Balance Sheets . The following tables summarize unconsolidated VIEs with which the Company has significant continuing involvement, but is not the primary beneficiary at June 30, 2020 and December 31, 2019 : June 30, 2020 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,738,085 $ 74,863 $ 54 $ 14,116 $ 89,033 Certificate Program 2,469,325 115,343 45 21,428 136,816 Investment Fund 33,984 — — 7,775 7,775 Total unconsolidated VIEs $ 4,241,394 $ 190,206 $ 99 $ 43,319 $ 233,624 June 30, 2020 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 74,863 $ 54 $ 14,116 $ 89,033 Certificate Program 115,343 45 21,428 136,816 Investment Fund — — 7,775 7,775 Total unconsolidated VIEs $ 190,206 $ 99 $ 43,319 $ 233,624 December 31, 2019 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,909,219 $ 93,881 $ 362 $ 18,768 $ 113,011 Certificate Program 2,585,957 126,254 515 25,588 152,357 Investment Fund 34,170 — — 7,742 7,742 Total unconsolidated VIEs $ 4,529,346 $ 220,135 $ 877 $ 52,098 $ 273,110 December 31, 2019 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 93,881 $ 362 $ 18,768 $ 113,011 Certificate Program 126,254 515 25,588 152,357 Investment Fund — — 7,742 7,742 Total unconsolidated VIEs $ 220,135 $ 877 $ 52,098 $ 273,110 “Total VIE Assets” represents the remaining principal balance of loans held by unconsolidated VIEs with respect to Unconsolidated Trusts, Certificate Program transactions, and the net assets held by the Investment Fund using the most current information available. “Securities Available for Sale,” “Accrued Interest Receivable,” and “Other Assets” are the balances in the Company’s Condensed Consolidated Balance Sheets related to its involvement with the unconsolidated VIEs. “Other Assets” includes the Company’s servicing assets and servicing receivables and the Company’s equity investment with respect to the Investment Fund. “Total Exposure” refers to the Company’s maximum exposure to loss from its involvement with unconsolidated VIEs. It represents estimated loss that would be incurred under severe, hypothetical circumstances, for which the Company believes the possibility is extremely remote, such as where the value of interests and any associated collateral declines to zero. Accordingly, this required disclosure is not an indication of expected losses. The following tables summarize activity related to the Unconsolidated Trusts and Certificate Program trusts, with the transfers accounted for as a sale on the Company’s condensed consolidated financial statements for the second quarters and first halves of 2020 and 2019 : Three Months Ended June 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold $ — $ — $ 558,456 $ 483,312 Net gains (losses) recognized from loans securitized or sold $ — $ — $ 822 $ 5,643 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (1) $ — $ — $ 27,360 $ 23,781 Cash proceeds from loans securitized or sold $ — $ — $ 279,038 $ 456,327 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 4,821 $ 7,230 $ 4,209 $ 3,651 Cash proceeds for interest received on senior securities and subordinated securities $ 1,769 $ 2,620 $ 1,195 $ 1,800 (1) For Structured Program transactions, the Company retained asset-backed senior securities of $24.7 million , CLUB Certificate asset-backed securities of $23.8 million , and asset-backed subordinated securities of $2.7 million for the second quarter of 2019 . Six Months Ended June 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold $ 255,203 $ 637,637 $ 851,875 $ 1,024,440 Net gains (losses) recognized from loans securitized or sold $ (20 ) $ 5,596 $ 3,754 $ 11,467 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (1) $ 12,707 $ 31,423 $ 41,915 $ 50,568 Cash proceeds from loans securitized or sold $ 237,764 $ 598,515 $ 545,273 $ 970,212 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 9,942 $ 14,222 $ 7,779 $ 6,594 Cash proceeds for interest received on senior securities and subordinated securities $ 2,809 $ 4,893 $ 2,634 $ 3,235 (1) For Structured Program transactions, the Company retained asset-backed senior securities of $23.0 million and $38.1 million , CLUB Certificate asset-backed securities of $18.3 million and $50.6 million , and asset-backed subordinated securities of $2.9 million and $3.8 million for the first halves of 2020 and 2019 , respectively. Off-Balance Sheet Loans Off-balance sheet loans primarily relate to Structured Program transactions for which the Company has some form of continuing involvement, including as servicer. Delinquent loans are comprised of loans 31 days or more past due, including non-accrual loans. Loans to eligible borrowers participating in Skip-a-Pay are not considered delinquent during the commensurate period the loan is extended. For loans related to Structured Program transactions where servicing is the only form of continuing involvement, the Company would only experience a loss if it was required to repurchase a loan due to a breach in representations and warranties associated with its loan sale or servicing contracts. As of June 30, 2020 , the aggregate unpaid principal balance of the off-balance sheet loans pursuant to Structured Program transactions was $4.2 billion , of which $80.0 million was attributable to off-balance sheet loans that were 31 days or more past due. As of December 31, 2019 , the aggregate unpaid principal balance of the off-balance sheet loans pursuant to Structured Program transactions was $4.4 billion , of which $145.6 million was attributable to off-balance sheet loans that were 31 days or more past due. Retained Interests from Unconsolidated VIEs The Company and other investors in the subordinated interests issued by trusts and Certificate Program trusts have rights to cash flows only after the investors holding the senior securities issued by the trusts have first received their contractual cash flows. The investors and the trusts have no direct recourse to the Company’s assets, and holders of the securities issued by the trusts can look only to the assets of the securitization trusts that issued their securities for payment. The beneficial interests held by the Company are subject principally to the credit and prepayment risk stemming from the underlying unsecured personal whole loans. See “ Note 8. Fair Value of Assets and Liabilities ” for additional information on the fair value sensitivity of asset-backed securities related to Structured Program transactions.

Fair Value of Assets and Liabil

Fair Value of Assets and Liabilities	6 Months Ended
	Jun. 30, 2020
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 “ Part II – Item 8. Financial Statements and Supplementary Data – 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, Assets and Liabilities Recorded at Fair Value The following tables present the fair value hierarchy for assets and liabilities measured at fair value at June 30, 2020 and December 31, 2019 : June 30, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans held for investment $ — $ — $ 785,228 $ 785,228 Loans held for investment by the Company — — 65,557 65,557 Loans held for sale by the Company — — 587,093 587,093 Securities available for sale: Asset-backed senior securities and subordinated securities — 94,616 18,956 113,572 CLUB Certificate asset-backed securities — — 76,634 76,634 Corporate debt securities — 8,532 — 8,532 Commercial paper — 8,293 — 8,293 Other asset-backed securities — 8,199 8,199 Certificates of deposit — 6,700 — 6,700 Total securities available for sale — 126,340 95,590 221,930 Servicing assets — — 65,515 65,515 Total assets $ — $ 126,340 $ 1,598,983 $ 1,725,323 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 785,928 $ 785,928 Payable to Structured Program note and certificate holders — — 193,034 193,034 Deferred revenue — — 4,538 4,538 Loan trailing fee liability — — 9,213 9,213 Total liabilities $ — $ — $ 992,713 $ 992,713 December 31, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Assets: Loans held for investment $ — $ — $ 1,079,315 $ 1,079,315 Loans held for investment by the Company — — 43,693 43,693 Loans held for sale by the Company — — 722,355 722,355 Securities available for sale: Asset-backed senior securities and subordinated securities — 109,339 21,090 130,429 CLUB Certificate asset-backed securities — — 89,706 89,706 Corporate debt securities — 14,343 — 14,343 Certificates of deposit — 13,100 — 13,100 Other asset-backed securities — 12,080 — 12,080 Commercial paper — 9,274 — 9,274 U.S. agency securities — 1,995 — 1,995 Total securities available for sale — 160,131 110,796 270,927 Servicing assets — — 89,680 89,680 Total assets $ — $ 160,131 $ 2,045,839 $ 2,205,970 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 1,081,466 $ 1,081,466 Payable to Structured Program note and certificate holders — — 40,610 40,610 Loan trailing fee liability — — 11,099 11,099 Total liabilities $ — $ — $ 1,133,175 $ 1,133,175 As presented in the tables above, the Company has elected the fair value option for certain liabilities. Changes in the fair value of these financial liabilities caused by a change in the Company’s risk are reported in other comprehensive income (OCI). For the second quarter and first half of 2020 , the amount reported in OCI is zero because these financial liabilities are either payable only upon receipt of cash flows from underlying loans or secured by cash collateral. 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 held for investment and related notes, certificates, and secured borrowings, loans held for sale, loan servicing rights, asset-backed securities related to Structured Program transactions, 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 observable and unobservable inputs, respectively. The Company primarily uses a discounted cash flow model to estimate the fair value of Level 3 instruments based on the present value of estimated future cash flows. This model uses inputs that are inherently judgmental and reflect our best estimates of the assumptions a market participant would use to calculate fair value. The Company did not transfer any assets or liabilities in or out of Level 3 during the first half of 2020 or the year ended December 31, 2019 . Fair valuation adjustments are recorded through earnings related to Level 3 instruments for the second quarters and first halves of 2020 and 2019 . Certain 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, a change in one input in a certain direction may be offset by an opposite change from another input. Loans Held for Investment, Notes, Certificates and Secured Borrowings Significant Unobservable Inputs The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loans held for investment, notes, certificates and secured borrowings at June 30, 2020 and December 31, 2019 : Loans Held for Investment, Notes, Certificates and Secured Borrowings June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Average Minimum Maximum Weighted- Average Discount rates 7.6 % 16.0 % 9.6 % 6.0 % 12.0 % 7.9 % Net cumulative expected loss rates (1) 5.1 % 29.0 % 13.3 % 3.6 % 34.9 % 11.9 % Cumulative expected prepayment rates (1) 26.3 % 38.2 % 30.0 % 28.7 % 38.6 % 31.7 % (1) Expressed as a percentage of the original principal balance of the loan, note, certificate or secured borrowing. Significant Recurring Level 3 Fair Value Input Sensitivity At June 30, 2020 and December 31, 2019 , the discounted cash flow methodology used to estimate the note, certificate and secured borrowings’ 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 held for investment and loans held for sale were largely offset by the corresponding fair value adjustments due to the payment dependent design of the notes, certificates and secured borrowings. Fair Value Reconciliation The following tables present additional information about Level 3 loans held for investment, loans held for sale, and notes, certificates and secured borrowings measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2020 $ 990,662 $ (105,249 ) $ 885,413 $ — $ — $ — $ 990,662 $ (103,822 ) $ 886,840 Purchases 55,274 — 55,274 57,760 (1,044 ) 56,716 — — — Transfers (to) from loans held for investment and/or loans held for sale (101 ) — (101 ) — — — — — — Issuances — — — — — — 55,274 — 55,274 Sales — — — (57,760 ) 1,224 (56,536 ) — — — Principal payments and retirements (171,541 ) — (171,541 ) — — — (171,642 ) — (171,642 ) Charge-offs, net of recoveries (22,818 ) 14,202 (8,616 ) — — — (22,818 ) 13,556 (9,262 ) Change in fair value recorded in earnings — 24,799 24,799 — (180 ) (180 ) — 24,718 24,718 Balance at June 30, 2020 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2019 $ 1,805,078 $ (106,880 ) $ 1,698,198 $ — $ — $ — $ 1,805,078 $ (101,852 ) $ 1,703,226 Purchases 166,754 — 166,754 552,115 (468 ) 551,647 — — — Transfers (to) from loans held for investment and/or loans held for sale (229 ) — (229 ) — — — — — — Issuances — — — — — — 166,754 — 166,754 Sales — — — (552,115 ) 385 (551,730 ) — — — Principal payments and retirements (317,919 ) — (317,919 ) — — — (318,148 ) — (318,148 ) Charge-offs, net of recoveries (48,427 ) 34,800 (13,627 ) — — — (48,427 ) 34,789 (13,638 ) Change in fair value recorded in earnings — (20,193 ) (20,193 ) — 83 83 — (20,243 ) (20,243 ) Balance at June 30, 2019 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2019 $ 1,148,888 $ (69,573 ) $ 1,079,315 $ — $ — $ — $ 1,148,888 $ (67,422 ) $ 1,081,466 Purchases 159,894 — 159,894 522,588 (2,923 ) 519,665 — — — Transfers (to) from loans held for investment and/or loans held for sale (17,579 ) — (17,579 ) 17,413 — 17,413 — — — Issuances — — — — — — 159,894 — 159,894 Sales — — — (540,001 ) 3,463 (536,538 ) — — — Principal payments and retirements (387,289 ) — (387,289 ) — — — (404,868 ) — (404,868 ) Charge-offs, net of recoveries (52,438 ) 31,513 (20,925 ) — — — (52,438 ) 29,987 (22,451 ) Change in fair value recorded in earnings — (28,188 ) (28,188 ) — (540 ) (540 ) — (28,113 ) (28,113 ) Balance at June 30, 2020 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2018 $ 2,013,438 $ (130,187 ) $ 1,883,251 $ — $ — $ — $ 2,033,258 $ (127,383 ) $ 1,905,875 Purchases 359,846 (21 ) 359,825 1,115,151 (468 ) 1,114,683 — — — Transfers (to) from loans held for investment and/or loans held for sale (452 ) — (452 ) — — — — — — Issuances — — — — — — 359,846 — 359,846 Sales — — — (1,115,151 ) (780 ) (1,115,931 ) — — — Principal payments and retirements (658,363 ) — (658,363 ) — — — (678,635 ) 14 (678,621 ) Charge-offs, net of recoveries (109,212 ) 81,676 (27,536 ) — — — (109,212 ) 81,665 (27,547 ) Change in fair value recorded in earnings — (43,741 ) (43,741 ) — 1,248 1,248 — (41,602 ) (41,602 ) Balance at June 30, 2019 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951 Loans Invested in by the Company Significant Unobservable Inputs The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loans invested in by the Company at June 30, 2020 and December 31, 2019 : Loans Invested in by the Company June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.1 % 9.6 % 6.0 % 11.5 % 7.8 % Net cumulative expected loss rates (1) 6.2 % 31.9 % 14.1 % 3.6 % 36.6 % 10.9 % Cumulative expected prepayment rates (1) 26.2 % 37.8 % 30.7 % 27.3 % 41.0 % 31.6 % (1) Expressed as a percentage of the original principal balance of the loan. Significant Recurring Level 3 Fair Value Input Sensitivity The fair value sensitivity of loans invested in by the Company to adverse changes in key assumptions as of June 30, 2020 and December 31, 2019 , are as follows: June 30, December 31, Fair value of loans invested in by the Company $ 652,650 $ 766,048 Expected weighted-average life (in years) 1.3 1.5 Discount rates 100 basis point increase $ (7,865 ) $ (9,806 ) 200 basis point increase $ (15,578 ) $ (19,410 ) Expected credit loss rates on underlying loans 10% adverse change $ (10,718 ) $ (9,558 ) 20% adverse change $ (21,544 ) $ (19,136 ) Expected prepayment rates 10% adverse change $ (2,093 ) $ (2,429 ) 20% adverse change $ (4,083 ) $ (4,740 ) Fair Value Reconciliation The following tables present additional information about Level 3 loans invested in by the Company measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2020 $ 83,650 $ (12,647 ) $ 71,003 $ 835,557 $ (93,853 ) $ 741,704 $ 919,207 $ (106,500 ) $ 812,707 Purchases 386 (312 ) 74 23,363 — 23,363 23,749 (312 ) 23,437 Transfers (to) from loans held for investment and/or loans held for sale 137 — 137 (36 ) — (36 ) 101 — 101 Sales — — — (112,527 ) 10,947 (101,580 ) (112,527 ) 10,947 (101,580 ) Principal payments and retirements (7,949 ) — (7,949 ) (71,588 ) — (71,588 ) (79,537 ) — (79,537 ) Charge-offs, net of recoveries (1,065 ) 377 (688 ) (6,507 ) 6,018 (489 ) (7,572 ) 6,395 (1,177 ) Change in fair value recorded in earnings — 2,980 2,980 — (4,281 ) (4,281 ) — (1,301 ) (1,301 ) Balance at June 30, 2020 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2019 $ 11,233 $ (2,476 ) $ 8,757 $ 584,872 $ (32,706 ) $ 552,166 $ 596,105 $ (35,182 ) $ 560,923 Purchases 789 (615 ) 174 1,189,003 — 1,189,003 1,189,792 (615 ) 1,189,177 Transfers (to) from loans held for investment and/or loans held for sale (3,583 ) — (3,583 ) 3,812 — 3,812 229 — 229 Sales — — — (1,249,866 ) 40,544 (1,209,322 ) (1,249,866 ) 40,544 (1,209,322 ) Principal payments and retirements (920 ) — (920 ) (64,060 ) — (64,060 ) (64,980 ) — (64,980 ) Charge-offs, net of recoveries (969 ) 410 (559 ) (5,974 ) 5,783 (191 ) (6,943 ) 6,193 (750 ) Change in fair value recorded in earnings — 1,158 1,158 — (36,325 ) (36,325 ) — (35,167 ) (35,167 ) Balance at June 30, 2019 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2019 $ 47,042 $ (3,349 ) $ 43,693 $ 747,394 $ (25,039 ) $ 722,355 $ 794,436 $ (28,388 ) $ 766,048 Purchases 1,113 (1,005 ) 108 1,402,457 — 1,402,457 1,403,570 (1,005 ) 1,402,565 Transfers (to) from loans held for investment and/or loans held for sale 43,325 — 43,325 (43,159 ) — (43,159 ) 166 — 166 Sales — — — (1,283,934 ) 30,856 (1,253,078 ) (1,283,934 ) 30,856 (1,253,078 ) Principal payments and retirements (13,633 ) — (13,633 ) (141,691 ) — (141,691 ) (155,324 ) — (155,324 ) Charge-offs, net of recoveries (2,688 ) 511 (2,177 ) (12,805 ) 11,797 (1,008 ) (15,493 ) 12,308 (3,185 ) Change in fair value recorded in earnings — (5,759 ) (5,759 ) — (98,783 ) (98,783 ) — (104,542 ) (104,542 ) Balance at June 30, 2020 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2018 $ 3,518 $ (935 ) $ 2,583 $ 869,715 $ (29,694 ) $ 840,021 $ 873,233 $ (30,629 ) $ 842,604 Purchases 1,170 (994 ) 176 2,032,551 — 2,032,551 2,033,721 (994 ) 2,032,727 Transfers (to) from loans held for investment and/or loans held for sale 4,950 (1,471 ) 3,479 (4,498 ) 1,471 (3,027 ) 452 — 452 Sales — — — (2,295,746 ) 62,294 (2,233,452 ) (2,295,746 ) 62,294 (2,233,452 ) Principal payments and retirements (1,455 ) — (1,455 ) (131,878 ) — (131,878 ) (133,333 ) — (133,333 ) Charge-offs, net of recoveries (1,633 ) 847 (786 ) (12,357 ) 11,963 (394 ) (13,990 ) 12,810 (1,180 ) Change in fair value recorded in earnings — 1,030 1,030 — (68,738 ) (68,738 ) — (67,708 ) (67,708 ) Balance at June 30, 2019 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110 Asset-Backed Securities Related to Structured Program Transactions Significant Unobservable Inputs The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for asset-backed securities related to Structured Program transactions at June 30, 2020 and December 31, 2019 : Asset-Backed Securities Related to Structured Program Transactions June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 1.1 % 20.0 % 11.3 % 3.4 % 20.7 % 8.8 % Net cumulative expected loss rates (1) 5.7 % 35.8 % 20.9 % 4.5 % 37.9 % 19.2 % Cumulative expected prepayment rates (1) 9.4 % 30.4 % 23.9 % 17.3 % 35.1 % 29.4 % (1) Expressed as a percentage of the outstanding collateral balance. Significant Recurring Fair Value Input Sensitivity The following tables present adverse changes to the fair value sensitivity of Level 2 and Level 3 asset-backed securities related to Structured Program transactions to changes in key assumptions at June 30, 2020 and December 31, 2019 : June 30, 2020 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 94,616 $ 18,956 $ 76,634 Expected weighted-average life (in years) 1.3 1.8 1.3 Discount rates 100 basis point increase $ (871 ) $ (262 ) $ (685 ) 200 basis point increase $ (1,716 ) $ (472 ) $ (1,354 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (2,519 ) $ (2,429 ) 20% adverse change $ — $ (4,996 ) $ (4,858 ) Expected prepayment rates 10% adverse change $ — $ (907 ) $ (774 ) 20% adverse change $ — $ (1,749 ) $ (1,549 ) December 31, 2019 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 109,339 $ 21,090 $ 89,706 Expected weighted-average life (in years) 1.1 1.4 1.1 Discount rates 100 basis point increase $ (1,050 ) $ (300 ) $ (823 ) 200 basis point increase $ (2,076 ) $ (513 ) $ (1,627 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (2,162 ) $ (2,163 ) 20% adverse change $ — $ (4,273 ) $ (4,311 ) Expected prepayment rates 10% adverse change $ — $ (814 ) $ (654 ) 20% adverse change $ — $ (1,495 ) $ (1,279 ) Fair Value Reconciliation The following table presents additional information about Level 3 asset-backed securities related to Structured Program transactions measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 103,511 $ 79,425 $ 110,796 $ 60,279 Additions 2,427 26,434 26,012 54,347 Redemptions (376 ) — (376 ) — Cash received (17,808 ) (10,968 ) (34,074 ) (18,406 ) Change in unrealized gain (loss) 2,131 1,074 (3,125 ) 908 Accrued interest 2,194 — 3,826 — Provision for credit loss expense 3,511 — (7,469 ) — Other-than-temporary impairment — (144 ) — (1,307 ) Fair value at end of period $ 95,590 $ 95,821 $ 95,590 $ 95,821 Servicing Assets Significant Unobservable Inputs The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for servicing assets at June 30, 2020 and December 31, 2019 : Servicing Assets June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.0 % 2.9 % 14.8 % 8.6 % Net cumulative expected loss rates (1) 5.5 % 31.8 % 14.7 % 3.7 % 36.1 % 12.4 % Cumulative expected prepayment rates (1) 25.7 % 37.4 % 30.3 % 27.5 % 41.8 % 32.5 % Total market servicing rates (% per annum on outstanding principal balance) (2) 0.66 % 0.66 % 0.66 % 0.66 % 0.66 % 0.66 % (1) Expressed as a percentage of the original principal balance of the loan. (2) Includes collection fees estimated to be paid to a hypothetical third-party servicer. Significant Recurring Level 3 Fair Value Input Sensitivity The Company’s selection of the most representative market servicing rates for servicing assets 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, calculated using different market servicing rate assumptions as of June 30, 2020 and December 31, 2019 : Servicing Assets June 30, December 31, 2019 Weighted-average market servicing rate assumptions 0.66 % 0.66 % Change in fair value from: Servicing rate increase by 0.10% $ (9,174 ) $ (13,978 ) Servicing rate decrease by 0.10% $ 9,175 $ 13,979 The following table presents the fair value sensitivity of servicing assets to adverse changes in key assumptions as of June 30, 2020 and December 31, 2019 : Servicing Assets June 30, December 31, 2019 Fair value of Servicing Assets $ 65,515 $ 89,680 Discount rates 100 basis point increase $ (529 ) $ (680 ) 200 basis point increase $ (1,059 ) $ (1,360 ) Expected loss rates 10% adverse change $ (353 ) $ (582 ) 20% adverse change $ (706 ) $ (1,165 ) Expected prepayment rates 10% adverse change $ (1,652 ) $ (2,962 ) 20% adverse change $ (3,303 ) $ (5,924 ) Fair Value Reconciliation The following table presents additional information about Level 3 servicing assets measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 92,825 $ 71,848 $ 89,680 $ 64,006 Issuances (1) 1,755 18,700 19,336 34,546 Change in fair value, included in investor fees (25,062 ) (12,066 ) (34,670 ) (23,105 ) Other net changes included in deferred revenue (4,003 ) 232 (8,831 ) 3,267 Fair value at end of period $ 65,515 $ 78,714 $ 65,515 $ 78,714 (1) Represents the gains or losses on sales of the related loans. Loan Trailing Fee Liability Significant Unobservable Inputs The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loan trailing fee liability at June 30, 2020 and December 31, 2019 : Loan Trailing Fee Liability June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.7 % 2.9 % 14.8 % 9.3 % Net cumulative expected loss rates (1) 5.6 % 31.8 % 16.9 % 3.7 % 36.0 % 14.4 % Cumulative expected prepayment rates (1) 25.8 % 37.5 % 30.6 % 28.5 % 41.7 % 33.0 % (1) Expressed as a percentage of the original principal balance of the loan. Significant Recurring Level 3 Fair Value Input Sensitivity The fair value sensitivity of the loan trailing fee liability to adverse changes in key assumptions would not result in a material impact on the Company’s financial position. Fair Value Reconciliation The following table presents additional information about Level 3 loan trailing fee liability measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 10,372 $ 10,061 $ 11,099 $ 10,010 Issuances 181 1,910 1,966 3,400 Cash payment of Loan Trailing Fee (1,829 ) (1,936 ) (3,897 ) (3,905 ) Change in fair value, included in Origination and Servicing 489 189 45 719 Fair value at end of period $ 9,213 $ 10,224 $ 9,213 $ 10,224 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 at June 30, 2020 and December 31, 2019 : June 30, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 338,394 $ — $ 338,394 $ — $ 338,394 Restricted cash (1) 134,345 — 134,345 — 134,345 Servicer reserve receivable 41 — 41 — 41 Deposits 892 — 892 — 892 Total assets $ 473,672 $ — $ 473,672 $ — $ 473,672 Liabilities: Accrued expenses and other liabilities $ 18,414 $ — $ — $ 18,414 $ 18,414 Accounts payable 2,951 — 2,951 — 2,951 Payables to investors 49,405 — 49,405 — 49,405 Credit facilities and securities sold under repurchase agreements 480,079 — 66,378 413,701 480,079 Total liabilities $ 550,849 $ — $ 118,734 $ 432,115 $ 550,849 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments. December 31, 2019 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 243,779 $ — $ 243,779 $ — $ 243,779 Restricted cash (1) 243,343 — 243,343 — 243,343 Servicer reserve receivable 73 — 73 — 73 Deposits 953 — 953 — 953 Total assets $ 488,148 $ — $ 488,148 $ — $ 488,148 Liabilities: Accrued expenses and other liabilities $ 24,899 $ — $ — $ 24,899 $ 24,899 Accounts payable 10,855 — 10,855 — 10,855 Payables to investors 97,530 — 97,530 — 97,530 Credit facilities and securities sold under repurchase agreements 587,453 — 77,143 510,310 587,453 Total liabilities $ 720,737 $ — $ 185,528 $ 535,209 $ 720,737 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments.

Property, Equipment and Softwar

Property, Equipment and Software, net	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, Equipment and Software, Net Property, equipment and software, net, consist of the following: June 30, December 31, Internally developed software (1) $ 111,245 $ 117,510 Leasehold improvements 36,158 39,315 Computer equipment 26,474 26,669 Purchased software 17,825 11,846 Furniture and fixtures 8,894 9,406 Construction in progress 2,949 4,937 Total property, equipment and software 203,545 209,683 Accumulated depreciation and amortization (96,848 ) (95,313 ) Total property, equipment and software, net $ 106,697 $ 114,370 (1) Includes $13.2 million and $21.3 million of development in progress as of June 30, 2020 and December 31, 2019 , respectively. Depreciation and amortization expense on property, equipment and software was $11.6 million and $23.4 million for the second quarter and first half of 2020 , respectively. Depreciation and amortization expense on property, equipment and software was $12.8 million and $26.1 million for the second quarter and first half of 2019 , respectively. The Company recorded impairment expense on its leasehold improvements and furniture and fixtures of $ 1.5 million and $1.5 million for the second quarter and first half of 2020 , respectively. There was no impairment expense for the Company’s leasehold improvements and furniture and fixtures in the second quarter and first half of 2019 . The Company recorded impairment expense on its internally developed software of $4.3 million and $4.5 million for the second quarter and first half of 2020 , respectively. The Company recorded impairment expense on its internally developed software of $0.7 million and $2.3 million for the second quarter and first half of 2019 , respectively. The Company records impairment expense on its leasehold improvements and furniture and fixtures and its internally developed software in “Other general and administrative” and “Engineering and product development” expense, respectively, in the Condensed Consolidated Statements of Operations .

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: June 30, December 31, Loan servicing assets, at fair value (1) $ 65,515 $ 89,680 Accounts receivable 14,465 19,017 Prepaid expenses 13,315 14,862 Other investments 8,275 8,242 Deferred financing costs 770 1,484 Other 7,362 10,383 Total other assets $ 109,702 $ 143,668 (1) As of June 30, 2020 and December 31, 2019 , loans underlying loan servicing rights had a total outstanding principal balance of $12.4 billion and $14.1 billion , respectively.

Intangible Assets

Intangible Assets	6 Months Ended
	Jun. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets, net of accumulated amortization, was $12.9 million and $14.5 million at June 30, 2020 and December 31, 2019 , respectively. Amortization expense associated with intangible assets for the second quarter and first half of 2020 was $0.8 million and $1.6 million , respectively. Amortization expense associated with intangible assets for the second quarter and first half of 2019 was $0.9 million and $1.8 million , respectively. There was no impairment loss for the second quarters and first halves of 2020 and 2019 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consist of the following: June 30, December 31, Transaction fee refund reserve $ 18,798 $ 25,541 Contingent liabilities (1) 16,375 16,000 Accrued expenses 15,709 36,797 Accrued compensation 10,334 30,484 Loan trailing fee liability, at fair value 9,213 11,099 Deferred revenue 4,801 13,688 Other 11,139 9,027 Total accrued expenses and other liabilities $ 86,369 $ 142,636 (1) See “ Note 18. Commitments and Contingencies ” for further information.

Debt

Debt	6 Months Ended
	Jun. 30, 2020
Debt Disclosure [Abstract]
Debt	Debt Credit Facilities and Securities Sold Under Repurchase Agreements The Company may enter into arrangements in the ordinary course of business pursuant to which the Company can incur indebtedness. Below is a description of certain of these arrangements: Warehouse Credit Facilities Through wholly-owned subsidiaries, the Company entered into secured warehouse credit facilities (Warehouse Facilities), to finance the Company’s personal loans and auto refinance loans and to pay fees and expenses related to the applicable facilities. Each subsidiary entered into a credit agreement and security agreement with a commercial bank as administrative agent and a national banking association as collateral trustee and paying agent. The creditors of the Warehouse Facilities have no recourse to the general credit of the Company. As of June 30, 2020 , the warehouse facilities used to finance our personal loans (Personal Loan Warehouse Credit Facilities) have a combined borrowing capacity of $500.0 million on a revolving basis and have “Commitment Termination Dates” ranging from October 2020 to February 2022 , at which point the Company’s ability to borrow new funds under the respective facility ends. One Personal Loan Warehouse Credit Facility with a borrowing capacity of $250.0 million that had a Commitment Termination Date in June 2020 expired, was fully repaid and was not renewed. Under the respective agreements, if not amended, extended, or replaced, any outstanding debt on the Commitment Termination Dates would be repaid as an amortizing term loan (based on principal repayments of the financed personal loans) until the facility’s final maturity date, and outstanding debt is not due in full upon the “Commitment Termination Dates.” In addition, under the respective agreements, if there is any breach of delinquency measures and other maintenance provisions, any outstanding debt would be repaid as an amortizing term loan (based on principal repayments of the financed personal loans) until the facility’s final maturity date. The final maturity date occurs at the earlier of twelve months after the Commitment Termination Date and three years after these Personal Loan Warehouse Credit Facilities were executed, and any remaining debt is due in full at such time. Under the respective agreements, the Personal Loan Warehouse Credit Facilities mature between March 2022 and February 2023 . There is an outstanding balance of $285.5 million at June 30, 2020 , with associated Commitment Termination Dates of October 2020 for $100.5 million and February 2022 for $185.0 million . On August 3, 2020, we amended certain terms of the Personal Loan Warehouse Credit Facility with a Commitment Termination Date of February 2022 and an outstanding balance of $185.0 million as of June 30, 2020 . Effective August 3, 2020, the new Commitment Termination Date is December 31, 2020, the facility will step down on a schedule, from $250.0 million at June 30, 2020 to $100.0 million at August 31, 2020 and $50.0 million on November 16, 2020, and the maximum advance rate against the borrowing base will step down by 5% on each of those dates and to 50% at March 31, 2021. If the outstanding advance rate is greater than the target advance rate or the outstanding loan amount exceeds the outstanding commitment on September 1, 2020 or November 17, 2020, the advance rate will step down by an additional 5% and the interest rate will be increased by 0.75% . At December 31, 2020, the facility will enter amortization. The aging loan limit was extended to March 31, 2021, when loans that have been financed in the facility for more than 210 days will count at 50% toward the borrowing base. The interest rate increase with respect to the Commitment Termination Date has been deferred until March 31, 2021. The warehouse facility to finance auto refinance loans (Auto Loan Warehouse Credit Facility) is a $34.2 million term loan that matures in June 2021 , which has a remaining outstanding balance of $9.0 million as of June 30, 2020 . The amount borrowed under this Auto Loan Warehouse Credit Facility amortizes over time through regular principal and interest payments collected from the auto refinance loans that serve as collateral. The creditors of the Personal Loan and Auto Loan Warehouse Credit Facilities have no recourse to the general credit of the Company. Borrowings under these facilities bear interest at an annual benchmark rate of LIBOR (London Inter-bank Offered Rate) or at an alternative commercial paper rate (which is either (i) the per annum rate equivalent to the weighted-average of the per annum rates at which all commercial paper notes were issued by certain lenders to fund advances or maintain loans, or (ii) the daily weighted-average of LIBOR, as set forth in the applicable credit agreement), plus a spread ranging from 1.75% to 2.10% . Interest is payable monthly. Borrowings may be prepaid without penalty. In addition, the Personal Loan Warehouse Credit Facilities require payment of a monthly unused commitment fee ranging from 0.375% to 0.875% per annum on the average undrawn portion available. The Personal Loan and Auto Loan Warehouse Credit Facilities contain certain covenants. As of June 30, 2020 , the Company was in material compliance with all applicable covenants under the respective credit agreements. As of June 30, 2020 and December 31, 2019 , the Company had $294.5 million and $387.3 million in aggregate debt outstanding under the Personal Loan and Auto Loan Warehouse Credit Facilities, respectively, with collateral consisting of loans at fair value of $357.7 million and $551.5 million included in “Loans held for sale by the Company at fair value,” respectively, and restricted cash of $22.5 million and $25.1 million included in the Condensed Consolidated Balance Sheets , respectively. Revolving Credit Facility In December 2015, the Company entered into a credit and guaranty agreement and a pledge and security agreement with several lenders and a financial services company, as collateral agent, for an aggregate $120.0 million secured revolving credit facility (Revolving Facility). The Company may borrow under the Revolving Facility until December 17, 2020 . Repayment of any outstanding proceeds are payable on December 17, 2020 , and may be prepaid without penalty. Borrowings under the Revolving Facility bear interest, at the Company’s option, at an annual rate of LIBOR plus a spread of 1.75% to 2.00% , which is fixed for a Company-selected interest period of one, two, three, six or twelve months, or at an alternative base rate (which is tied to either the prime rate, federal funds effective rate plus 0.50% , or the adjusted eurocurrency rate plus 1.00% , as defined in the credit agreement) plus a spread of 0.75% to 1.00% . Base rate borrowings may be prepaid at any time without penalty, however pre-payment of LIBOR-based borrowings before the end of the selected interest period may result in the Company incurring expense to compensate the lenders for their funding costs through the end of the interest period. Interest is payable quarterly. Additionally, the Company is required to pay a quarterly commitment fee to the lenders of between 0.25% and 0.375% per annum, depending on the Company’s total net leverage ratio, on the average undrawn portion available under the Revolving Facility. The Revolving Facility contains certain covenants. As of June 30, 2020 , the Company was in material compliance with all applicable covenants in the credit and guaranty agreement. The Company had $70.0 million and $60.0 million in debt outstanding under the Revolving Facility as of June 30, 2020 and December 31, 2019 , respectively. Repurchase Agreements In 2018 and 2019, the Company entered into repurchase agreements pursuant to which the Company sold securities (subject to an obligation to repurchase such securities at a specified future date and price) in exchange for cash, primarily to finance securities retained from the Company’s Structured Program transactions. The Company is subject to margin calls based on the fair value of the securities to be repurchased. As of June 30, 2020 and December 31, 2019 , the Company had $115.6 million and $140.2 million in aggregate debt outstanding under its repurchase agreements, respectively, of which, at June 30, 2020 , $49.7 million had contractual repurchase dates ranging from August 2020 to March 2028 and $65.9 million is subject to a repurchase date in August 2020 that has a daily rolling evergreen 45-day maturity structure. The contractual repurchase dates correspond to either a set repurchase schedule or to the maturity dates of the underlying securities, which have a remaining weighted-average estimated life from 1.3 to 1.8 years. The repurchase agreements bear interest at a rate that is based on a benchmark of the three-month LIBOR rate or the weighted-average interest rate of the securities sold plus a spread of 0.65% to 2.50% . Securities sold are included in “Credit facilities and securities sold under repurchase agreements” on the Condensed Consolidated Balance Sheets . As of June 30, 2020 and December 31, 2019 , the Company had $155.5 million and $174.8 million , respectively, of underlying assets sold under repurchase agreements. Payable to Structured Program Note and Certificate Holders To date, the Company sponsored Structured Program transactions through master trusts consisting of $244.4 million in unsecured personal whole loans in aggregate. The trusts sold certificate participations and securities to third-party investors in an amount equal to approximately 95% of the loans for $228.7 million in net proceeds. The remaining certificate participations, securities, and residual interests were retained by the Company. The Company is the primary beneficiary of the trusts, which are consolidated. As of June 30, 2020 and December 31, 2019 , the certificate participations and securities held by third-party investors of $193.0 million and $40.6 million are included in “Payable to Structured Program note and certificate holders at fair value” in the Condensed Consolidated Balance Sheets and were secured by loans held for investment and loans held for sale by the Company at fair value of $189.6 million and $40.3 million and restricted cash of $13.7 million and $2.9 million included in the Condensed Consolidated Balance Sheets , respectively.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity Preferred Stock The Company authorized 10,000,000 shares of preferred stock with a par value of $0.01 per share. In February 2020, the Company filed Certificates of Designations with the Secretary of State of Delaware to designate, of the total authorized shares of preferred stock, 1,200,000 shares of Series A Preferred Stock and 600,000 shares of Series B Preferred Stock. As of June 30, 2020 , there were 195,627 shares of Series A Preferred Stock outstanding and no shares of Series B Preferred Stock outstanding. Each share of Series A Preferred Stock will automatically convert into 100 shares of LendingClub common stock upon a permissible transfer to an unaffiliated third party (subject to adjustment and the other terms described in its respective Certificate of Designations), provided that upon such conversion, the holder, together with its affiliates, will not own or control, in the aggregate, more than 9.9% of the Company’s outstanding common stock. A permissible transfer is a transfer (a) to the Company; (b) in a widespread public distribution; (c) in which no one transferee (or group of associated transferees) would receive 2% or more of any class of the Company’s voting securities then outstanding (including pursuant to a related series of such transfers); or (d) to a transferee that would control more than 50% of the Company voting securities (not including voting securities such person is acquiring from the transferor). The shares of Series A Preferred Stock have no voting rights, except as otherwise required by the General Corporation Law of the State of Delaware. The Series A Preferred Stock ranks pari passu with the common stock, and junior to any other series of preferred stock that is issued by the Company with respect to rights upon liquidation, winding up and dissolution and as to rights to dividends, provided, however, that in case of a liquidation, winding up or dissolution the Series A Preferred Stock has a right to receive $0.01 per share before any payment is made to the holders of LendingClub common stock, and will thereafter participate on a pari passu basis with the common stock. The Series B Preferred Stock, if issued, will (a) be nonredeemable; (b) have a minimum preferential quarterly dividend of $0.001 per share or any higher per share dividend declared on LendingClub common stock; (c) in the event of a liquidation be entitled to receive a preferred liquidation payment equal to $0.001 per share plus the per share amount paid in respect of a share of LendingClub common stock; (d) will have one vote, voting together with LendingClub common stock; and (e) in the event of any merger, consolidation or other transaction in which shares of LendingClub common stock are exchanged, will be entitled to receive the per share amount paid in respect of each share of LendingClub common stock. The rights of holders of the Series B Preferred Stock with respect to dividends, liquidation and voting, and in the event of mergers and consolidations, are protected by customary antidilution provisions. There are no issued Series B Preferred Stock. Issuance of Series A Preferred Stock in Exchange for Common Stock In February 2020, the Company and Radius Bancorp, Inc. (Radius) entered into an Agreement and Plan of Merger (Merger Agreement), by and among the Company, a wholly owned-subsidiary of the Company, and Radius, pursuant to which the Company will acquire Radius and thereby acquire its wholly-owned subsidiary, Radius Bank (the Merger). In connection with the Merger and in order to facilitate compliance with federal banking regulations by Shanda, in February 2020, the Company also entered into a Share Exchange Agreement (the Exchange Agreement) pursuant to which Shanda exchanged all of its shares of the Company’s common stock (with voting rights), or 19,562,881 shares, for Series A Preferred Stock, or 195,628 shares, and a one-time cash payment of $50.2 million . The Exchange Agreement imposes certain restrictions and obligations on Shanda so as to ensure that its ownership of LendingClub securities and activities will not impede LendingClub’s ability to obtain the necessary bank regulatory approvals. On the date of the Exchange Agreement, the effective conversion price for the Series A Preferred Stock was less than the fair value of the common stock, resulting in a beneficial conversion feature that the Company recognized as a deemed dividend to the preferred stockholders and, accordingly, an adjustment to net loss to arrive at net loss attributable to common stockholders. As a result, the Company recorded the deemed dividend of $50.2 million within accumulated deficit for the quarter ended March 31, 2020. There were no other deemed dividends recorded during the first half of 2020 . Shareholder Protection Agreement In February 2020, the board of directors of the Company adopted a Temporary Bank Charter Protection Agreement (Protection Agreement) and simultaneously declared a dividend of one right for each outstanding share of LendingClub common stock (each such right, a “Common Right”) and one right for each outstanding share of Series A Preferred Stock (each such right, a “Series A Preferred Right” and, together with the Common Rights, the “Rights”) to stockholders of record at the close of business on March 19, 2020. The Protection Agreement provides for the dilution of any person or group of persons that acquires: (i) 25% or more equity interest in the Company, or (ii) 10.0% or more of any class of the Company’s voting securities. The Rights shall be issued between March 19, 2020 and the earlier of the Merger or 18 months . Each Common Right entitles the registered holder to purchase one one-thousandth of a share (a “Unit”) of Series B Preferred Stock, at a purchase price of $48.00 per Unit. Each Series A Preferred Right entitles the registered holder to purchase one share of Series A Preferred Stock, at a purchase price of $4,800.00 per share. The Protection Agreement is effective from February 18, 2020 (Effective Date) through the earlier of the closing of the Merger or the 18 month anniversary of the Effective Date. Retirement of treasury stock In the first quarter 2020, we retired 467,049 shares, or $19.6 million , of common stock previously held as treasury shares. The Company also retired the 19,562,881 shares of common stock acquired from Shanda as part of the Exchange Agreement. These retirements reduced the number of issued shares of common stock by that same amount. Under the applicable state law, these shares resume the status of authorized and unissued shares upon retirement. Since the repurchase price was lower than the original issuance price, the excess of share repurchase price over par value was recorded to additional paid-in capital.

Employee Incentive Plans

Employee Incentive Plans	6 Months Ended
	Jun. 30, 2020
Postemployment Benefits [Abstract]
Employee Incentive Plans	Employee Incentive Plans The Company’s 2014 Equity Incentive Plan (EIP) provides for granting awards, including restricted stock units (RSUs), performance-based restricted stock units (PBRSUs) and stock options to employees, officers and directors. Stock-based Compensation Stock-based compensation expense was as follows for the periods presented: Three Months Ended Six Months Ended 2020 2019 2020 2019 RSUs and PBRSUs $ 13,975 $ 19,859 $ 31,681 $ 37,044 Stock options 229 560 652 1,275 ESPP — 132 — 484 Total stock-based compensation expense $ 14,204 $ 20,551 $ 32,333 $ 38,803 The following table presents the Company’s stock-based compensation expense recorded in the Condensed Consolidated Statements of Operations : Three Months Ended Six Months Ended 2020 2019 2020 2019 Sales and marketing $ 731 $ 1,540 $ 2,394 $ 3,111 Origination and servicing 722 846 1,358 1,770 Engineering and product development 2,668 5,475 7,283 10,706 Other general and administrative 10,083 12,690 21,298 23,216 Total stock-based compensation expense $ 14,204 $ 20,551 $ 32,333 $ 38,803 The Company capitalized $1.3 million and $2.9 million of stock-based compensation expense associated with developing software for internal use during the second quarter and first half of 2020 , respectively. The Company capitalized $1.7 million and $3.6 million of stock-based compensation expense associated with developing software for internal use during the second quarter and first half of 2019 , respectively. Restricted Stock Units The following table summarizes the activities for the Company’s RSUs during the first half of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 9,597,404 $ 16.78 Granted 10,047,445 $ 9.56 Vested (2,048,657 ) $ 16.95 Forfeited/expired (3,917,787 ) $ 13.86 Unvested at June 30, 2020 13,678,405 $ 12.29 During the first half of 2020 , the Company granted 10,047,445 RSUs with an aggregate fair value of $96.1 million . As of June 30, 2020 , there was $159.2 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over the next 3.1 years. Performance-based Restricted Stock Units PBRSUs are equity awards that are earned, and eligible for time-based vesting, based upon the achievement of certain pre-established performance metrics over a specific performance period. Depending on the level of achievement of the pre-established performance targets, the PBRSUs earned and eligible for time-based vesting can range from 0% to 200% of the target amount. PBRSUs granted under the Company’s EIP generally have a one -year performance period with the earned shares, if any, vesting over an additional approximately two -year 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 metrics. The following table summarizes the activities for the Company’s PBRSUs during the first half of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 471,589 $ 16.94 Vested (102,905 ) $ 18.06 Forfeited/expired (1) (203,400 ) $ 16.70 Unvested at June 30, 2020 165,284 $ 16.24 (1) Primarily relates to the portion of PBRSUs granted in 2018 and 2019 that were unearned as a result of not achieving certain pre-established performance metrics during the performance period. For the second quarter and first half of 2020 , the Company recognized $0.3 million and $1.1 million in stock-based compensation expense related to PBRSUs, respectively. For the second quarter and first half of 2019 , the Company recognized $1.6 million and $2.5 million in stock-based compensation expense related to PBRSUs, respectively. As of June 30, 2020 , there was $1.0 million of unrecognized compensation cost related to unvested PBRSUs, which is expected to be recognized over the next 1.2 years . Employee Stock Purchase Plan In connection with the Company’s cost structure simplification efforts, future purchases through the Company’s employee stock purchase plan (ESPP) were suspended effective upon the completion of the most recent offering period on May 10, 2019.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the first half of 2020 , the Company recorded income tax expense of $319 thousand , which is primarily attributable to the tax effects of unrealized losses recorded to other comprehensive income associated with the Company’s available for sale portfolio. For the second quarter and first half of 2019 , the Company recorded an income tax benefit of $438 thousand , which is primarily attributable to the tax effects of unrealized gains recorded to other comprehensive income associated with the Company’s available for sale portfolio. The Company did no t record any income tax expense (benefit) during the second quarter of 2020 . 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.

Leases

Leases	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Leases	Leases The Company has operating leases for its headquarters in San Francisco, California, as well as additional office space for its origination and servicing operations in the Salt Lake City area, Utah, and Westborough, Massachusetts. As of June 30, 2020 , the lease agreements have remaining lease terms ranging from approximately one year to nine years . Some of the lease agreements include options to extend the lease term for up to an additional fifteen years and some of them include options to terminate the lease with six months ’ prior notice. In addition, the Company is the sublessor of a portion of its office space in San Francisco, with lease terms of one year to two years . As of June 30, 2020 , the Company pledged $0.8 million of cash and $5.5 million in letters of credit as security deposits in connection with its lease agreements. The Company entered into lease amendments during the second quarter of 2020 due to COVID-19. The Company has elected to remeasure the lease liability using the original discount rate with an adjustment to the ROU Asset by the amount of the remeasurement. This accounting policy election did not have a material impact to the Company’s financial position, results of operations, cash flows, or disclosures. The Company reviewed operating lease ROU assets for impairment. In June 2020, the Company terminated one of its operating leases resulting in a reduction in the operating lease liability of $6.1 million and a corresponding reduction in the operating lease asset of $5.3 million . For the second quarter and first half of 2020, the Company recognized impairment expense of $2.7 million , net for several of its operating lease assets, included in Other general and administrative expense on the Company’s Condensed Consolidated Statement of Operations. No impairment expense was recorded in the second quarter and first half of 2019. Balance sheet information as of June 30, 2020 related to leases was as follows: ROU Assets and Lease Liabilities June 30, 2020 Operating lease assets $ 79,407 Operating lease liabilities (1) $ 100,911 (1) The difference between operating lease assets and operating lease liabilities is the unamortized balance of deferred rent, which prior to January 1, 2019, was included as a separate liability within “Accrued expenses and other liabilities.” Components of net lease costs for the second quarters of 2020 and 2019 were as follows: Three Months Ended Six Months Ended Net Lease Costs Income Statement Classification 2020 2019 2020 2019 Operating lease costs (1) Other general and administrative expense $ (4,573 ) $ (4,979 ) $ (9,193 ) $ (10,171 ) Sublease revenue Other revenue 1,537 1,016 3,071 2,023 Net lease costs $ (3,036 ) $ (3,963 ) $ (6,122 ) $ (8,148 ) (1) Includes variable lease costs of $0.3 million and $0.5 million for the second quarters of 2020 and 2019 , respectively. Includes variable lease costs of $0.7 million and $0.8 million for the first halves of 2020 and 2019 , respectively. Supplemental cash flow information related to the Company’s operating leases for the second quarters of 2020 and 2019 was as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Non-cash operating activity: Leased assets obtained in exchange for new and amended operating lease liabilities (1) $ 84 $ — $ 84 $ 15,277 (1) Represents non-cash activity and, accordingly, is not reflected in the Condensed Consolidated Statements of Cash Flows . Amount includes noncash remeasurements of the operating lease right-of-use asset. The Company’s future minimum undiscounted lease payments under operating leases and anticipated sublease revenue as of June 30, 2020 were as follows: Operating Lease Payments Sublease Revenue Net Remainder of 2020 $ 8,826 $ (3,560 ) $ 5,266 2021 19,271 (6,767 ) 12,504 2022 14,134 (2,918 ) 11,216 2023 10,761 — 10,761 2024 11,072 — 11,072 Thereafter 68,383 — 68,383 Total lease payments (1) $ 132,447 $ (13,245 ) $ 119,202 Discount effect 31,536 Present value of future minimum lease payments $ 100,911 (1) As of June 30, 2020 , the Company entered into an additional operating lease which has not yet commenced and is therefore not part of the table above nor included in the lease right-of-use asset and liability. This lease will commence when the Company obtains possession of the underlying asset, which is expected to be on January 1, 2021. The lease term is 8.25 years and has an undiscounted future rent payment of approximately $8.6 million . The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows: Lease Term and Discount Rate June 30, 2020 Weighted-average remaining lease term (in years) 9.23 Weighted-average discount rate 5.75 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Operating Lease Commitments For discussion regarding the Company’s operating lease commitments, see “ Note 17. Leases . ” Loan Purchase Obligation Under the Company’s loan account program with WebBank, which serves as the Company’s primary issuing bank for loans facilitated through the Company’s platform, WebBank retains ownership of the loans it originates for two business days after origination. As part of this arrangement, the Company is committed to purchase any loans that have been fully approved at par plus accrued interest, at the conclusion of the two business days. As of June 30, 2020 and December 31, 2019 , the Company was committed to purchase loans with an outstanding principal balance of $3.2 million and $91.3 million at par, respectively. Loan Repurchase Obligations The Company is generally required to repurchase loans or interests therein in the event of identity theft or certain other types of fraud on the part of the borrower or education and patient service providers. The Company may also repurchase loans or interests therein in connection with certain customer accommodations. In connection with certain whole loan and Certificate Program sales, as well as to facilitate access to securitization markets, the Company has agreed to repurchase loans if representations and warranties made with respect to such loans are breached under certain circumstances. In the case of certain securitization transactions, the Company has also agreed to repurchase or substitute loans for which a borrower fails to make the first payment due under a loan. The Company believes such provisions 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 repurchases such loans or interests therein at par. As a result of the loan repurchase obligations described above, the Company repurchased $1.9 million and $3.1 million in loans or interests therein during the first halves of 2020 and 2019 , respectively. Purchase Commitments As required by applicable regulations, the Company must make firm offers of credit with respect to prescreened direct mail it sends out to prospective applicants provided such applicants continue to meet the credit worthiness criteria which were used to screen them at the time of their application and the application is completed prior to the offer’s stated expiration date. If such loans are accepted by the applicants but not otherwise funded by investors on the platform, the Company is required to facilitate funding for the loans directly with its issuing bank partners at minimum amounts, which are generally below the requested loan amount. The Company was required to purchase approximately $275 thousand of such loans during the second quarter of 2020 . During the month of July 2020, the Company was required to purchase approximately $4 thousand of these loans. In addition, if neither the Company nor Springstone 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, the Company and Springstone are contractually committed to purchase these loans. As of both June 30, 2020 and December 31, 2019 , 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 Condensed Consolidated Balance Sheets . During the first half of 2020 , the Company was required to purchase $21.5 million of loans facilitated by Springstone. These purchased loans are held on the Company’s Condensed Consolidated Balance Sheets and have a fair value of $45.6 million and $45.7 million as of June 30, 2020 and December 31, 2019 , respectively. The Company believes it will be required to purchase additional loans facilitated by Springstone in 2020 as it seeks to arrange for other investors to invest in or purchase these loans. Acquisition-related Commitments On February 18, 2020, the Company and Radius entered into an Agreement and Plan of Merger (as previously discussed in “ Note 14. Stockholders' Equity ”), in a cash and stock transaction valued at $185 million , subject to certain purchase price and expense adjustments of up to $22 million . The Company has entered into acquisition-related agreements, which include contingent fees of approximately $3 million as of June 30, 2020 , due upon closing of the transaction. Legal The Company is subject to various claims brought in a litigation or regulatory context. These matters include lawsuits and federal regulatory litigation, including but not limited to putative class action lawsuits, derivative lawsuits, and litigation with the FTC. In addition, the Company continues to cooperate in federal and state regulatory examinations, investigations, and actions relating to the Company’s business practices and licensing, and is a party to a number of routine litigation matters arising in the ordinary course of business. The majority of these claims and proceedings relate to or arise from alleged state or federal law and regulatory violations, or are alleged commercial disputes or consumer complaints. The Company accrues for costs related to contingencies when a loss from such claims is probable and the amount of loss can be reasonably estimated. In determining whether a loss from a claim is probable and the loss can be reasonably estimated, the Company reviews and evaluates its litigation and regulatory matters on at least a quarterly basis in light of potentially relevant factual and legal developments. If the Company determines an unfavorable outcome is not probable or the amount of loss cannot be reasonably estimated, the Company does not accrue for a potential litigation loss. In those situations, the Company discloses an estimate or range of the reasonably possible losses, if such estimates can be made. Except as otherwise specifically noted below, at this time, the Company does not believe that it is possible to estimate the reasonably possible losses or a range of reasonably possible losses related to the matters described below. Derivative Lawsuits On November 6, 2017, a putative shareholder derivative action was filed in the U.S. District Court for the Northern District of California ( Sawyer v. Sanborn, et al., No. 3:17-cv-06447) against certain of the Company’s current and former officers and directors and naming the Company as a nominal defendant. This action was based on allegations similar to those in a consolidated putative securities class action litigation ( In re LendingClub Securities Litigation , No. 16-cv-02627 (N.D. Cal.)) that was successfully settled in 2018. In July 2018, the Company and the individual defendants brought a motion to dismiss the Sawyer matter on the grounds that the action was not filed within the applicable statute of limitations. The Court granted that motion and judgment was entered in favor of the defendants. The Sawyer plaintiff also attempted to intervene in a previously filed derivative action in the U.S. District Court for the Northern District of California ( Stadnicki v. LaPlanche, et al. , No. 3:16-cv-03072). The Company and the individual defendants opposed the intervention, and the original Stadnicki plaintiff moved to voluntarily dismiss the case. The motion to intervene was denied and the motion to voluntarily dismiss the Stadnicki action was granted. Notices of appeal were filed in both the Sawyer and Stadnicki actions. The appeal in the Sawyer matter was dismissed at the Sawyer plaintiff’s request. Oral argument in the appeal in the Stadnicki matter was heard on February 3, 2020 and on February 25, 2020, the U.S. Court of Appeals for the Ninth Circuit issued a ruling affirming the trial court’s denial of the Sawyer plaintiff’s motion to intervene in the Stadnicki case. The Sawyer plaintiff did not seek further review of the Ninth Circuit’s ruling by the applicable deadline. Accordingly, this matter is now concluded. FTC Lawsuit In 2016, the Company received a formal request for information from the Federal Trade Commission (FTC). The FTC commenced an investigation concerning certain of the Company’s policies and practices and related legal compliance. On April 25, 2018, the FTC filed a complaint in the Northern District of California ( FTC v. LendingClub Corporation , No. 3:18-cv-02454) alleging causes of action for violations of the FTC Act, including claims of deception in connection with disclosures related to the origination fee associated with loans available through the Company’s platform, and in connection with communications relating to the likelihood of loan approval during the application process, and a claim of unfairness relating to certain unauthorized charges to borrowers’ bank accounts. The FTC’s complaint also alleged a violation of the Gramm-Leach-Bliley Act regarding the Company’s practices in delivering its privacy notice. In June 2018, the Company brought a motion to dismiss the FTC’s complaint, which was heard on September 13, 2018. In an order dated October 3, 2018, the Court denied the motion in part and granted the motion in part, providing the FTC with leave to amend its pleadings. On October 22, 2018, the FTC filed an amended complaint which reasserted the same causes of action from the original complaint. On November 13, 2018, the Company filed an answer to the amended complaint. The FTC subsequently filed a motion seeking to strike certain affirmative defenses pled in the answer and the Company filed an opposition to the motion. On April 29, 2019, the Court issued a ruling denying the FTC’s motion in part and granting it in part and allowing the Company to replead certain of the affirmative defenses that were the subject of the FTC’s motion. The Company filed an amended answer in the case on May 29, 2019. The discovery period in the case is closed. On February 27, 2020, both the Company and the FTC filed various motions with the Court, including motions to exclude expert testimony and motions for summary judgment as to some or all of the claims in the case. The FTC also filed a motion for partial judgment on the pleadings in the case. These motions were heard by the Court on April 27, 2020. On June 1, 2020, the Court issued an order granting in part and denying in part both the Company’s and the FTC’s motions for summary judgment. The Court also denied the motions to exclude expert testimony and granted in part and denied in part the FTC’s motion for partial judgment on the pleadings. The FTC’s Gramm-Leach-Bliley Act claim has been dismissed from the case, but issues relating to the FTC’s three other claims will need to be tried. Trial in the case has been continued to October 19, 2020. On July 30, 2020, the Company filed a motion to stay the litigation pending the U.S. Supreme Court’s decisions in two cases (F.T.C. v. Credit Bureau Center and AMG Capital Management, LLC v. F.T.C.) that raise the issue whether the FTC is entitled to seek monetary relief under Section 13(b) of the FTC Act. The timing of a decision on the Company’s stay motion is uncertain. The Company denies, and will continue to vigorously defend against, the claims remaining in this case. Notwithstanding the Company’s vigorous defense, the Company and the FTC have participated in voluntary settlement conferences and may engage in additional settlement discussions. No assurances can be given as to the timing, outcome or consequences of this matter. Class Action Lawsuits Following Announcement of FTC Litigation In May 2018, following the announcement of the FTC’s litigation against the Company, putative shareholder class action litigation was filed in the U.S. District Court of the Northern District of California ( Veal v. LendingClub Corporation et.al., No. 5:18-cv-02599) against the Company and certain of its current and former officers and directors alleging violations of federal securities laws in connection with the Company’s description of fees and compliance with federal privacy law in securities filings. The Court appointed lead plaintiffs and lead counsel for the litigation in November 2018. On January 7, 2019, the lead plaintiffs filed a consolidated amended class action complaint which asserts the same causes of action as the original complaint and adds additional allegations. On March 8, 2019, the Company and the individual defendants in the case filed motions to dismiss the consolidated amended class action complaint. A hearing on these motions was held on September 26, 2019. On November 4, 2019, the Court issued a written order granting defendants’ motions to dismiss with leave to amend. Plaintiff filed a Second Amended Complaint on December 19, 2019, which modifies and adds certain allegations and drops one of the former officer defendants as a defendant in the case, but otherwise advances the same causes of action. Defendants filed a motion to dismiss the Second Amended Complaint on January 28, 2020. The Court heard argument on this motion on April 30, 2020. On June 12, 2020, the Court issued an order granting defendants’ motion without leave to amend, in part, and with leave to amend, in part. On July 27, 2020, the lead plaintiffs filed a notice with the Court indicating their intention not to file a Third Amended Complaint in this case and requesting that the Court enter judgment. The Court entered judgment and dismissed all claims in the case the same day. It is yet unclear whether the lead plaintiffs will seek to appeal the Court’s judgment. The Company denies and will vigorously defend against the allegations in the case. No assurances can be given as to the timing, outcome or consequences of this matter. In July 2019, a putative class action lawsuit was filed against the Company in federal court in the State of New York ( Shron v. LendingClub Corp. , 1:19-cv-06718) alleging various claims including fraud, unjust enrichment, breach of contract, and violations of the federal Truth-in-Lending Act and New York General Business Law sections 349 and 350, et seq., based on allegations, among others, that the Company made misleading or inadequate statements or omissions in relation to the total cost and origination fee associated with loans available through the Company’s platform. The plaintiff seeks to represent classes of similarly situated individuals in the lawsuit. The Company filed a motion to compel arbitration of plaintiff’s claims on an individual basis. The Court denied that motion on July 13, 2020. The Company has filed a notice of appeal with respect to the Court’s decision. The Company denies and will vigorously defend against the allegations in the case. No assurances can be given as to the timing, outcome or consequences of this matter. Derivative Lawsuits Following FTC Litigation In July 2018, a putative shareholder derivative action was filed in the U.S. District Court for the Northern District of California ( Baron v. Sanborn, et al. No. 3:18-cv-04391) against certain of the Company’s current and former officers and directors and naming the Company as a nominal defendant. This action is based on allegations that the individuals breached their fiduciary duties to the Company and violated federal securities laws by, among other things, permitting the actions alleged in the FTC litigation and the description of fees and other practices in the Company’s securities filings. In January 2019, a second putative shareholder derivative action was filed in the U.S. District Court for the Northern District of California ( Cheekatamarla v. Sanborn, et al ., No. 3:19-cv-00563) against certain of the Company’s current officers and directors and naming the Company as a nominal defendant. Like the Baron action, this action is based on allegations that the individuals breached their fiduciary duties to the Company and violated federal securities laws by, among other things, permitting the actions alleged in the FTC litigation and the description of fees and other practices in the Company’s securities filings. Pursuant to a stipulation by the parties in both of these derivative cases, the Court consolidated the two cases and stayed the consolidated action pending further developments in Veal . In September 2019, co-lead counsel for plaintiffs in the consolidated action filed a notice and proposed order to lift the temporary stay and the Court issued an order lifting the stay. Subsequent to this order, the case was reassigned and the new Court issued an order staying the consolidated action pending resolution of the Veal action. On July 27, 2020, the Court issued an order lifting the stay in the consolidated action in light of the Court’s entry of judgment in the Veal action. No assurances can be given as to the timing, outcome or consequences of this consolidated matter. In August 2019, a putative shareholder derivative action was filed in the Court of Chancery for the State of Delaware ( Fisher v. Sanborn, et al. , Case No. 2019-0631) against certain of the Company’s current and former officers and directors and naming the Company as a nominal defendant. This lawsuit advances allegations similar to those in the consolidated Baron/Cheekatamarla actions and the Veal action discussed above and accuses the individual defendants of breaching their fiduciary duties by failing to adequately monitor the Company and prevent it from engaging in the purported regulatory violations alleged by the FTC and by causing the Company to make allegedly false and misleading public statements (as alleged in the Veal action). The lawsuit also alleges that certain of the individual defendants breached their fiduciary duties by selling Company shares while in possession of material, non-public information. On October 11, 2019, the Company and the individual defendants filed a motion to dismiss the complaint. In November 2019, rather than oppose defendants’ motion to dismiss, the plaintiff filed an amended complaint. That same month, the Company and the individual defendants named in the amended complaint filed a motion to dismiss that amended complaint. On January 17, 2020, rather than oppose defendants’ motion to dismiss, the plaintiff filed a second amended complaint. On January 24, 2020, defendants filed a motion to strike the second amended complaint as improper. The Court denied the defendants’ motion to strike and allowed the plaintiff to advance the second amended complaint as the operative complaint in the case. The defendants have filed a motion to dismiss the second amended complaint which was heard by the Court on July 2, 2020. It is unclear when the Court will issue a ruling on the motion. No assurances can be given as to the timing, outcome or consequences of this matter. Regulatory Investigation by the State of Massachusetts In June 2018, the Company received a civil investigative demand from the office of the Attorney General of the State of Massachusetts. The investigation related to the advertisement, provision and servicing of personal loans to Massachusetts’ consumers facilitated by the Company, including the Company’s compliance with the Massachusetts Small Loan Law and the Small Loan Rate Order promulgated under it. The Company cooperated with the investigation and finalized an Assurance of Discontinuance in January 2020 with the Attorney General’s Office to resolve the investigation, the terms of which are not material to the Company’s financial position or results of operations. In December 2019, the Massachusetts Division of Banks raised concerns pertaining to the Company’s compliance with the Massachusetts Small Loan Law similar to those the Massachusetts Attorney General’s Office raised during its investigation of the Company. No assurances can be given as to the timing, outcome or consequences of this matter; however, it could result in claims or actions against the Company, including litigation, regulatory enforcement actions, injunctions, monetary damages, restitution, fines or penalties, impact our licenses in Massachusetts, or require us to change our business practices or expend operational resources, all of which could result in a material loss or otherwise harm our business. Regulatory Examinations and Actions Relating to the Company’s Business Practices and Licensing The Company has been subject to periodic inquiries and enforcement actions brought by federal and state regulatory agencies relating to the Company’s business practices, the required licenses to operate its business, and its manner of operating in accordance with the requirements of its licenses. In the past, the Company has successfully resolved inquiries in a manner that was not material to its results of financial operations in any period and that did not materially limit the Company’s ability to conduct its business. The Company has had discussions with the Colorado Department of Law (CDL) concerning the licenses required for the Company’s servicing operations and the structure of its offerings in the State of Colorado. The Company has also had discussions with the CDL about entering into a terminable agreement with the CDL to, among other things: (i) toll the statutes of limitations on any action the CDL might bring against the Company based on the rates and charges on loans the Company facilitates and (ii) refrain from facilitating certain loans to borrowers located in Colorado available for investment by certain investors. No assurances can be given as to the timing, outcome or consequences of this matter. The Company is routinely subject to examination for compliance with applicable laws and regulations in the states in which it is licensed. As of the date of this Report, the Company is subject to examination by the New York Department of Financial Services (NYDFS) and other regulators. The Company periodically has discussions with various regulatory agencies regarding its business model and has engaged in similar discussions with the NYDFS. During the course of such discussions with the NYDFS, which remain ongoing, the Company decided to voluntarily comply with certain rules and regulations of the NYDFS. No assurances can be given as to the timing, outcome or consequences of this matter or others if or as they arise. Putative Class Actions In February 2020, a putative class action lawsuit was filed against the Company in the U.S District Court for the Northern District of California ( Erceg v. LendingClub Corporation , No. 3:20-cv-01153). The lawsuit alleges violations of California and Massachusetts law based on allegations that LendingClub recorded a call with plaintiff without notifying him that it would be recorded. Plaintiff seeks to represent a purported class of similarly situated individuals who had phone calls recorded by LendingClub without their knowledge and consent. LendingClub filed a motion to dismiss certain of plaintiff’s claims, strike nationwide class allegations, and, alternatively, to stay the litigation. Rather than oppose that motion, plaintiff filed an amended complaint. The Company again filed a motion to stay, or alternatively to dismiss certain of the claims in the amended complaint and to strike nationwide class allegations. That motion was heard by the Court on July 9, 2020. On July 28, 2020, the Court entered an order granting the Company’s motion to stay Plaintiff’s California claims pending a decision by the California Supreme Court in a case involving the California Invasion of Privacy Act, dismissing with prejudice Plaintiff’s claim under Massachusetts law, and denying the Company’s motion to strike Plaintiff’s nationwide class allegations. No assurances can be given as to the timing, outcome or consequences of this matter. In July 2020, a putative class action lawsuit was filed against the Company in the U.S. District Court for the Southern District of New York (Sosa v. LendingClub Corporation, No. 1:20-cv-05256). The lawsuit alleges violations of the Americans with Disabilities Act and various state law claims based on allegations that the plaintiff, who alleges he is visually-impaired, encountered access barriers in visiting LendingClub’s website that denied the plaintiff the full enjoyment of the services of the website. The plaintiff seeks to represent a class of similarly situated individuals in the lawsuit and seeks monetary, injunctive, and declaratory relief, among other relief. This case is in its early stages. No assurances can be given as to the timing, outcome or consequences of this matter. California Private Attorneys General Lawsuit In September 2018, a putative action under the California Private Attorney General Act was brought against the Company in the California Superior Court ( Brott v. LendingClub Corporation, et al. , CGC-18-570047) alleging violations of the California Labor Code. The complaint by a former employee alleges that the Company improperly failed to pay certain hourly employees for all wages owed, pay the correct rate of pay including overtime, and provide accurate wage statements. The lawsuit alleges that the plaintiff and aggrieved employees are entitled to recover civil penalties under the California Labor Code. On January 11, 2019, the Company filed a petition to compel arbitration of the plaintiff’s claims and stay the litigation pending a ruling on the motion and arbitration of the matter. Pursuant to the parties’ stipulation, in March 2019, the Court issued an order staying the lawsuit pending the parties’ participation in a mediation in September 2019. The parties have reached a resolution of this matter, the terms of which are not material to the Company’s financial position or results of operations. The resolution will require court approval. The parties have finalized a written settlement agreement and will seek the Court’s approval of the negotiated resolution. Certain Financial Considerations Relating to Litigation and Investigations With respect to the matters discussed above, the Company had $16.4 million and $16.0 million in accrued contingent liabilities at June 30, 2020 and December 31, 2019 , respectively. 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. No assurance can be given as to the timing, outcome or consequences of any of these matters.

Restructuring Costs

Restructuring Costs	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Costs	Restructuring Costs On April 20, 2020, the Company approved a restructuring plan to address the impact of COVID-19 on the Company’s business. The restructuring plan was completed on April 21, 2020 and resulted in a reduction of approximately 30% of the Company’s workforce. During the second quarter and first half of 2020, the Company recorded $17.0 million in restructuring costs within operating expenses, which was comprised of $8.6 million in compensation costs, $4.2 million in related non-cash lease expenses and impairment, and $4.2 million in impairment of internally developed software. No such costs were recorded in the second quarter and first half of 2019. Of the $8.6 million in compensation costs expensed, $7.2 million was paid out during the second quarter of 2020, resulting in a restructuring liability of $1.4 million , included in “Accrued expenses and other liabilities” on the Condensed Consolidated Balance Sheet, as of June 30, 2020. The following table presents the restructuring costs for the second quarter and first half of 2020 recorded in the Company’s Condensed Consolidated Statements of Operations: Sales and marketing $ 1,379 Origination and servicing 906 Engineering and product development 7,472 Other general and administrative 7,279 Total $ 17,036

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2020
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 loan product types of personal, education and patient finance, and auto. These product types are individually reviewed as operating segments but are aggregated to represent one reportable segment because the education and patient finance and auto loan product types are immaterial both individually and in the aggregate. In the second quarter of 2019, the Company sold certain assets relating to its small business operating segment and announced that it will connect applicants looking for a small business loan with strategic partners and earn referral fees, instead of facilitating these loans on its platform. 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	6 Months Ended
	Jun. 30, 2020
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 lending marketplace or certificate investment program. Any material amendment or modification to an existing related party transaction is also subject to the review and approval of the Audit Committee. Related party transactions may include any transaction between entities under common control or with a related person that has occurred since the beginning of the Company’s latest fiscal year or is currently proposed. 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 person, 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 or interests therein. 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. In February 2020, the Company entered into an exchange agreement with its largest stockholder, Shanda, pursuant to which, in March 2020, Shanda exchanged all of 19,562,881 shares of LendingClub common stock held by it for (i) 195,628 newly issued shares of mandatorily convertible, non-voting, LendingClub preferred stock, series A, both with a par value of $0.01 per share, and (ii) a one-time cash payment of $50.2 million . See “ Note 14. Stockholders' Equity ,” for additional information. As of June 30, 2020 , the Company had a $7.8 million investment and an approximate 23% ownership interest in an Investment Fund, a private fund that participates in a family of funds with other unrelated third parties. This family of funds purchases assets from third parties unrelated to the Company and historically purchased whole loans and interests in loans from the Company. The Company’s investment in the Investment Fund is recorded in “Other assets” on the Company’s Condensed Consolidated Balance Sheets . During the first half of 2019 , the family of funds purchased $77 thousand of whole loans. The family of funds did no t purchase whole loans during the first half of 2020 . During the first halves of 2020 and 2019 , the Company earned $27 thousand and $51 thousand in investor fees from this family of funds, and paid interest of $108 thousand and $540 thousand on the funds’ interests in whole loans, respectively. The Company believes that the investor fees charged were on terms and conditions that were not more favorable than those obtained by other third-party investors. The Investment Fund provides audited financial statements annually and periodic investment statements throughout each calendar year on a delayed basis, which are used by the Company to evaluate performance and recoverability of our investment.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to June 30, 2020 , 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 no additional subsequent events were required to be recognized or disclosed.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Securities Available for Sale	Securities Available for Sale Debt securities that the Company might not hold until maturity are classified as securities available for sale. In structured program transactions that meet the applicable criteria to be accounted for as a sale, the Company retains certain asset-backed securities including subordinated residual interests and CLUB Certificates, which are classified as securities available for sale. On January 1, 2020, the entity adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments (CECL) for securities available for sale. Asset-backed securities where the expected cash flows are significantly lower than that of the contractual future cash flows are considered to be purchased with credit deterioration (PCD). The discounted differential in expected and contractual cash flows is included with the purchase price of the asset to determine amortized cost of the security with an equal and offsetting valuation allowance for credit losses. Securities available for sale are recorded at fair value and unrealized gains and losses are reported, net of taxes, in “Accumulated other comprehensive income (loss)” included in Equity in the Company’s Consolidated Balance Sheets, unless management determines that the security is impaired due to a deterioration in expected cash flows, in which case the unrealized loss is recognized in earnings within “Net fair value adjustments” as a valuation allowance for credit losses (with the implementation of CECL) or other-than-temporary impairment (prior to the implementation of CECL) in the Company’s Condensed Consolidated Statements of Operations . Management evaluates whether debt securities available for sale with unrealized losses are impaired on a quarterly basis. If the Company intends to sell the security, or if it is more likely than not that it will be required to sell the security before recovery, an impairment is recognized in earnings equal to the entire difference between the amortized cost basis and fair value of the debt security. However, even if the Company does not expect to sell a debt security it must evaluate if a deterioration in cash flows exists.
Accrued Interest Receivable on Loans	Accrued Interest Receivable on Loans The Company does not record an allowance for credit losses on accrued interest receivable. The Company places loans on non-accrual status at 90 days past due. When a loan is placed on non-accrual status, the Company stops accruing interest and reverses all accrued but unpaid interest income as of such date. The Company accrues interest income on loans on short term hardship programs using the effective interest rate method.
Net Income (Loss) Per Share	Net Income (Loss) Per Share Basic net income (loss) per share (Basic EPS) attributable to common stockholders is computed by dividing net income (loss) attributable to LendingClub by the weighted-average number of common shares outstanding during the period. Diluted net income (loss) per share (Diluted EPS) is computed by dividing net income (loss) attributable to LendingClub by the weighted-average number of common shares outstanding during the period, adjusted for the effects of dilutive issuances of shares of common stock, which include incremental shares issued for outstanding RSUs, PBRSUs, and stock options. PBRSUs are included in dilutive shares to the extent the pre-established performance targets have been or are estimated to be satisfied as of the reporting date. The dilutive potential common shares are computed using the treasury stock method. The effects of outstanding RSUs, PBRSUs, and stock options are excluded from the computation of Diluted EPS in periods in which the effect would be antidilutive. For periods with more than one class of common shares, the Company computes Basic and Diluted EPS using the two-class method, which is an allocation of net income (loss) among the holders of each class of common shares. The Series A Preferred Stock is considered a separate class of common share for purposes of calculating net income (loss) per share because it participates in earnings similar to common stock and does not receive any significant preferences over the common stock.
Beneficial Conversion Feature	Beneficial Conversion Feature The Company accounts for the beneficial conversion feature (BCF) on its Series A Preferred Stock in accordance with ASC 470-20, Debt with Conversion and Other Options . The Company accretes the BCF discount from the date of issuance to the earliest conversion date, which was March 20, 2020. All of the BCF discount was accreted and recognized as a deemed dividend in “Accumulated deficit” on the Company’s Condensed Consolidated Balance Sheets. See “ Note 14. Stockholders' Equity ” for additional information.
Adoption of New Accounting Standards	Adoption of New Accounting Standards The Company adopted the following accounting standards during the six month period ended June 30, 2020 : On January 1, 2020, the entity adopted ASU 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments . For loans accounted for at amortized cost, the guidance replaces the incurred loss impairment methodology with an expected credit loss model for which a company recognizes an allowance based on the estimate of expected credit loss. As the Company has elected the fair value option for loans and loans accounted for at fair value through net income are outside the scope of Topic 326, there is no impact on the Company’s loan portfolios. For debt securities available for sale, Topic 326 requires recognition of expected credit losses by recognizing an allowance for credit losses when the fair value of the security is below amortized cost and the recognition of this allowance is limited to the difference between the security’s amortized cost basis and fair value. Upon adoption, the amendments in Topic 326 are recognized through a cumulative-effect adjustment to retained earnings, except for debt securities with prior other-than-temporary impairment whereby Topic 326 is applied prospectively. The Company adopted ASC 326 using the prospective transition approach for debt securities for which other-than-temporary impairment had been recognized prior to January 1, 2020. As a result, the amortized cost basis remains the same before and after the effective date of ASC 326. The effective interest rate on these debt securities was not changed. Amounts previously recognized in accumulated other comprehensive income as of January 1, 2020 relating to improvements in cashflows expected to be collected are accreted into income over the remaining life of the asset. Recoveries of amounts previously written off relating to improvements in cash flows after January 1, 2020 are recorded in earnings when received. Additionally, the Company adopted ASC 326 using the prospective transition approach for PCD financial assets. The Company did not have any previously classified assets as purchased credit impaired (PCI) under ASC 310-30. In accordance with this standard, management did not reevaluate for PCD upon transition. Adoption of Topic 326 did not have an impact on the Company’s financial position, results of operations, and cash flows. The Company did not record a cumulative effect adjustment to retained earnings. The Company included the disclosures required by ASU 2016-13 in “ Note 5. Securities Available for Sale . ” In August 2018, the FASB issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement , which modifies the disclosure requirements on fair value measurements by removing, modifying, or adding certain disclosures. The ASU eliminates such disclosures as the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and valuation processes for Level 3 fair value measurements. The ASU adds new disclosure requirements for Level 3 measurements. The new guidance became effective on January 1, 2020 and did not have a material impact on the Company’s related disclosures. In August 2018, the FASB issued ASU 2018-15, Intangibles – Goodwill and Other – Internal-Use Software – (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract , which requires a customer in a hosting arrangement that is a service contract to follow the internal-use software guidance in ASC 350-40 to determine which implementation costs to capitalize as assets or expense as incurred. The standard became effective on January 1, 2020 and the Company adopted the standard using the prospective approach. The Company has reviewed existing cloud computing arrangements and determined which ones are service contracts. Implementation costs that are not from internal developers related to service contracts that satisfy the criteria for capitalization under ASC 350-40 will be presented with “Other assets” on the Company’s Consolidated Balance Sheets, amortization expense will be presented in the same line on the income statement as the fees for the associated hosted service on the Company’s Consolidated Statements of Operations, and the cash flows will be presented consistent with the presentation of cash flows for the fees related to the hosted service, generally as cash flows from operations, on the Company’s Consolidated Statements of Cash Flows. Adoption of the standard did not have a material impact on the Company’s financial position, results of operations, cash flows, or disclosures. New Accounting Standards Not Yet Adopted In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes , which is part of the FASB’s initiative to reduce complexity in accounting standards. The proposed ASU eliminates certain exceptions to the general principles of ASC 740, Income Taxes , and simplifies income tax accounting in several areas. The standard is effective on January 1, 2021 with early adoption permitted. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures, but does not expect such adoption to have a material impact. In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting, which, if certain criteria are met, provides optional expedients and exceptions for applying generally accepted accounting principles to transactions affected by reference rate reform. These transactions include contract modifications, hedging relationships, and sale or transfer of debt securities classified as held-to-maturity. The provisions of the new standard may be adopted as of the beginning of the reporting period when the election is made until December 31, 2022. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures. The Company has not elected an adoption date.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	6 Months Ended
	Jun. 30, 2020
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue by Source	The following tables present the Company’s revenue from contracts with customers, disaggregated by revenue source for services transferred over time, for the second quarters and first halves of 2020 and 2019 : Three Months Ended 2020 2019 Transaction fees $ 3,874 $ 152,207 Referral fees 625 1,328 Total revenue from contracts with customers $ 4,499 $ 153,535 Six Months Ended 2020 2019 Transaction fees $ 140,117 $ 287,604 Referral fees 2,239 2,023 Total revenue from contracts with customers $ 142,356 $ 289,627

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	6 Months Ended
	Jun. 30, 2020
Earnings Per Share [Abstract]
Basic and Diluted Net Income (Loss) per Share	The following tables detail the computation of the Company’s basic and diluted net income (loss) per share of common stock and Series A Preferred Stock: Three Months Ended June 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Net loss attributable to stockholders $ (61,389 ) $ (17,082 ) $ (10,661 ) Weighted-average common shares – Basic and Diluted (2) 70,304,166 19,562,714 86,719,049 Net loss per share attributable to stockholders – Basic and Diluted (2) $ (0.87 ) $ (0.87 ) $ (0.12 ) Six Months Ended June 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Allocation of undistributed LendingClub net loss $ (104,686 ) $ (21,872 ) $ (30,596 ) Deemed dividend (50,204 ) 50,204 — Net income (loss) attributable to stockholders $ (154,890 ) $ 28,332 $ (30,596 ) Weighted-average common shares – Basic and Diluted (2) 78,406,162 11,071,212 86,429,892 Net income (loss) per share attributable to stockholders – Basic and Diluted (2) $ (1.98 ) $ 2.56 $ (0.35 ) (1) Presented on an as-converted basis. (2) See “ Note 2. Summary of Significant Accounting Policies ” and “ Note 14. Stockholders' Equity ” for additional information.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	The following table summarizes the weighted-average common stock that were excluded from the Company’s diluted net income (loss) per share computation because their effect would have been anti-dilutive for the periods presented: Three Months Ended Six Months Ended 2020 2019 2020 2019 Preferred stock 19,562,714 — 11,071,212 — Stock options 196,009 883,665 250,092 881,637 RSUs and PBRSUs 1,368 215,235 16,336 163,213 Total 19,760,091 1,098,900 11,337,640 1,044,850

Securities Available for Sale (

Securities Available for Sale (Tables)	6 Months Ended
	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	The amortized cost, gross unrealized gains and losses, allowance for credit losses, and fair value of securities available for sale as of June 30, 2020 and December 31, 2019 , were as follows: June 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Asset-backed senior securities (1)(2) $ 98,300 $ 5 $ (3,689 ) $ — $ 94,616 CLUB Certificate asset-backed securities (1) 86,000 79 (2,858 ) (6,587 ) 76,634 Asset-backed subordinated securities (1) 29,106 243 (1,409 ) (8,984 ) 18,956 Corporate debt securities 8,502 30 — — 8,532 Commercial paper 8,293 — — — 8,293 Other asset-backed securities 8,182 17 — — 8,199 Certificates of deposit 6,700 — — — 6,700 Total securities available for sale $ 245,083 $ 374 $ (7,956 ) $ (15,571 ) $ 221,930 December 31, 2019 Amortized Gross Gross Fair Asset-backed senior securities (1)(2) $ 108,780 $ 597 $ (38 ) $ 109,339 CLUB Certificate asset-backed securities (1) 90,728 41 (1,063 ) 89,706 Asset-backed subordinated securities (1) 20,888 423 (221 ) 21,090 Corporate debt securities 14,333 11 (1 ) 14,343 Certificates of deposit 13,100 — — 13,100 Other asset-backed securities 12,075 6 (1 ) 12,080 Commercial paper 9,274 — — 9,274 U.S. agency securities 1,995 — — 1,995 Total securities available for sale $ 271,173 $ 1,078 $ (1,324 ) $ 270,927 (1) As of June 30, 2020 and December 31, 2019 , $173.8 million and $219.0 million , respectively, of the asset-backed securities related to Structured Program transactions at fair value are subject to restrictions on transfer pursuant to the Company's obligations as a “sponsor” under the U.S. Risk Retention Rules (as more fully described in “ Part I – Item 1A. Risk Factors – Risk retention rules may increase our compliance costs, impair our liquidity and otherwise adversely affect our operating results ” in the Annual Report.). (2) As of June 30, 2020 , and December 31, 2019 , includes $148.8 million and $174.8 million , respectively, of securities pledged as collateral at fair value.
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value	A summary of securities available for sale with unrealized losses for which an allowance for credit losses has not been recorded as of June 30, 2020 and December 31, 2019 , aggregated by period of continuous unrealized loss, is as follows: Less than 12 months 12 months or longer Total June 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Asset-backed securities related to Structured Program transactions $ 116,173 $ (7,935 ) $ 1,201 $ (21 ) $ 117,374 $ (7,956 ) Corporate debt securities 1,451 — — — 1,451 — Total securities with unrealized losses (1) $ 117,624 $ (7,935 ) $ 1,201 $ (21 ) $ 118,825 $ (7,956 ) Less than 12 months Total December 31, 2019 Fair Unrealized Fair Unrealized Fair Unrealized Asset-backed securities related to Structured Program transactions $ 91,350 $ (1,287 ) $ 1,875 $ (35 ) $ 93,225 $ (1,322 ) Corporate debt securities 4,613 (1 ) — — 4,613 (1 ) Other asset-backed securities 3,062 (1 ) — — 3,062 (1 ) Total securities with unrealized losses (1) $ 99,025 $ (1,289 ) $ 1,875 $ (35 ) $ 100,900 $ (1,324 ) (1) The number of investment positions with unrealized losses at June 30, 2020 and December 31, 2019 totaled 131 and 70 , respectively.
Allowance for Credit Losses for Securities Available for Sale	The following table presents the activity in the allowance for credit losses for securities available for sale, by major security type, for the second quarter and first half of 2020 : Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of March 31, 2020 $ (8,638 ) $ (10,197 ) $ (18,835 ) Provision for credit loss expense 2,051 1,460 3,511 Allowance arising from PCD financial assets — (247 ) (247 ) Ending balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 ) Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of January 1, 2020 $ — $ — $ — Provision for credit loss expense (2,633 ) (4,836 ) (7,469 ) Allowance arising from PCD financial assets (3,954 ) (4,148 ) (8,102 ) Ending balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 )
Available-for-sale Securities Purchased with Credit Deterioration	Securities available for sale purchased with credit deterioration during the second quarter and first half of 2020 were as follows: Three Months Ended June 30, 2020 Six Months Ended June 30, 2020 Purchase price of PCD securities at acquisition $ 2,426 $ 25,469 Allowance for credit losses on PCD securities at acquisition 247 8,102 Par value of acquired PCD securities at acquisition $ 2,673 $ 33,571
Available-for-sale Securities by Contractual Maturity	The contractual maturities of securities available for sale at June 30, 2020 , were as follows: Amortized Cost Fair Value Within 1 year: Corporate debt securities $ 8,502 $ 8,532 Certificates of deposit 6,700 6,700 Other asset-backed securities 4,410 4,414 Commercial paper 8,293 8,293 Total 27,905 27,939 After 1 year through 5 years: Other asset-backed securities 3,772 3,785 Total 3,772 3,785 Asset-backed securities related to Structured Program transactions 213,406 190,206 Total securities available for sale $ 245,083 $ 221,930
Schedule of Proceeds and Realized Gain (Loss)	Proceeds and gross realized gains and losses from other sales of securities available for sale were as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Proceeds $ — $ 3,300 $ 2,396 $ 6,400 Gross realized gains $ — $ — $ 3 $ — Gross realized losses $ (2 ) $ — $ (4 ) $ —

Loans Held For Investment, Lo_2

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value Disclosures [Abstract]
Loans and Notes and Certificates	At June 30, 2020 and December 31, 2019 , loans held for investment, notes, certificates and secured borrowings measured at fair value on a recurring basis were as follows: Loans Held for Investment Notes, Certificates and Secured Borrowings June 30, December 31, June 30, December 31, Aggregate principal balance outstanding $ 851,476 $ 1,148,888 $ 851,476 $ 1,148,888 Net fair value adjustments (66,248 ) (69,573 ) (65,548 ) (67,422 ) Fair value $ 785,228 $ 1,079,315 $ 785,928 $ 1,081,466
Schedule of Outstanding Principal Balance of Notes, Certificates and Secured Borrowings at Fair Value	The following table provides the balances of notes, certificates and secured borrowings at fair value at the end of the periods indicated: June 30, December 31, Notes $ 677,589 $ 863,488 Certificates 101,742 197,842 Secured borrowings 6,597 20,136 Total notes, certificates and secured borrowings $ 785,928 $ 1,081,466
Loans Invested in by Company	At June 30, 2020 and December 31, 2019 , loans invested in by the Company for which there were no associated notes, certificates or secured borrowings (with the exception of $189.6 million and $40.3 million in loans at fair value in consolidated trusts as of June 30, 2020 and December 31, 2019 , respectively) were as follows: Loans Invested in by the Company Loans Held for Investment Loans Held for Sale Total June 30, December 31, June 30, December 31, June 30, December 31, Aggregate principal balance outstanding $ 75,159 $ 47,042 $ 668,262 $ 747,394 $ 743,421 $ 794,436 Net fair value adjustments (9,602 ) (3,349 ) (81,169 ) (25,039 ) (90,771 ) (28,388 ) Fair value $ 65,557 $ 43,693 $ 587,093 $ 722,355 $ 652,650 $ 766,048
Past Due Financing Receivables	Loans that were 90 days or more past due (including non-accrual loans) were as follows: June 30, December 31, Loans held for investment: Outstanding principal balance $ 5,870 $ 10,755 Net fair value adjustments (4,928 ) (9,663 ) Fair value $ 942 $ 1,092 Number of loans (not in thousands) 1,166 1,428 Loans invested in by the Company: Outstanding principal balance $ 2,231 $ 2,315 Net fair value adjustments (1,868 ) (2,016 ) Fair value $ 363 $ 299 Number of loans (not in thousands) 230 338

Securitizations and Variable _2

Securitizations and Variable Interest Entities (Tables)	6 Months Ended
	Jun. 30, 2020
Variable Interest Entity [Line Items]
Summary of Select Information Related to VIEs	The following tables provide the classifications of assets and liabilities on the Company’s Condensed Consolidated Balance Sheets for its transactions with consolidated and unconsolidated VIEs at June 30, 2020 and December 31, 2019 . Additionally, the assets and liabilities in the table below exclude intercompany balances that eliminate in consolidation: June 30, 2020 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 38,465 $ — $ 38,465 Securities available for sale at fair value — 190,206 190,206 Loans held for investment at fair value 101,742 — 101,742 Loans held for investment by the Company at fair value 64,634 — 64,634 Loans held for sale by the Company at fair value 482,726 — 482,726 Accrued interest receivable 4,918 99 5,017 Other assets 795 43,319 44,114 Total assets $ 693,280 $ 233,624 $ 926,904 Liabilities Accrued interest payable $ 2,032 $ — $ 2,032 Accrued expenses and other liabilities 103 — 103 Notes, certificates and secured borrowings at fair value 101,742 — 101,742 Payable to Structured Program note and certificate holders at fair value 193,034 — 193,034 Credit facilities and securities sold under repurchase agreements 294,510 — 294,510 Total liabilities 591,421 — 591,421 Total net assets $ 101,859 $ 233,624 $ 335,483 December 31, 2019 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 30,046 $ — $ 30,046 Securities available for sale at fair value — 220,135 220,135 Loans held for investment at fair value 197,842 — 197,842 Loans held for investment by the Company at fair value 40,251 — 40,251 Loans held for sale by the Company at fair value 551,455 — 551,455 Accrued interest receivable 4,431 877 5,308 Other assets 1,359 52,098 53,457 Total assets $ 825,384 $ 273,110 $ 1,098,494 Liabilities Accrued interest payable $ 3,185 $ — $ 3,185 Accrued expenses and other liabilities 244 — 244 Notes, certificates and secured borrowings at fair value 197,842 — 197,842 Payable to Structured Program note and certificate holders at fair value 40,610 — 40,610 Credit facilities and securities sold under repurchase agreements 387,251 — 387,251 Total liabilities 629,132 — 629,132 Total net assets $ 196,252 $ 273,110 $ 469,362
Summary of Activity Related to Personal Whole Loan Securitizations	The following tables summarize activity related to the Unconsolidated Trusts and Certificate Program trusts, with the transfers accounted for as a sale on the Company’s condensed consolidated financial statements for the second quarters and first halves of 2020 and 2019 : Three Months Ended June 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold $ — $ — $ 558,456 $ 483,312 Net gains (losses) recognized from loans securitized or sold $ — $ — $ 822 $ 5,643 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (1) $ — $ — $ 27,360 $ 23,781 Cash proceeds from loans securitized or sold $ — $ — $ 279,038 $ 456,327 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 4,821 $ 7,230 $ 4,209 $ 3,651 Cash proceeds for interest received on senior securities and subordinated securities $ 1,769 $ 2,620 $ 1,195 $ 1,800 (1) For Structured Program transactions, the Company retained asset-backed senior securities of $24.7 million , CLUB Certificate asset-backed securities of $23.8 million , and asset-backed subordinated securities of $2.7 million for the second quarter of 2019 . Six Months Ended June 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold $ 255,203 $ 637,637 $ 851,875 $ 1,024,440 Net gains (losses) recognized from loans securitized or sold $ (20 ) $ 5,596 $ 3,754 $ 11,467 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (1) $ 12,707 $ 31,423 $ 41,915 $ 50,568 Cash proceeds from loans securitized or sold $ 237,764 $ 598,515 $ 545,273 $ 970,212 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 9,942 $ 14,222 $ 7,779 $ 6,594 Cash proceeds for interest received on senior securities and subordinated securities $ 2,809 $ 4,893 $ 2,634 $ 3,235 (1) For Structured Program transactions, the Company retained asset-backed senior securities of $23.0 million and $38.1 million , CLUB Certificate asset-backed securities of $18.3 million and $50.6 million , and asset-backed subordinated securities of $2.9 million and $3.8 million for the first halves of 2020 and 2019 , respectively.
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Summary of Select Information Related to VIEs	The following tables summarize unconsolidated VIEs with which the Company has significant continuing involvement, but is not the primary beneficiary at June 30, 2020 and December 31, 2019 : June 30, 2020 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,738,085 $ 74,863 $ 54 $ 14,116 $ 89,033 Certificate Program 2,469,325 115,343 45 21,428 136,816 Investment Fund 33,984 — — 7,775 7,775 Total unconsolidated VIEs $ 4,241,394 $ 190,206 $ 99 $ 43,319 $ 233,624 June 30, 2020 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 74,863 $ 54 $ 14,116 $ 89,033 Certificate Program 115,343 45 21,428 136,816 Investment Fund — — 7,775 7,775 Total unconsolidated VIEs $ 190,206 $ 99 $ 43,319 $ 233,624 December 31, 2019 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,909,219 $ 93,881 $ 362 $ 18,768 $ 113,011 Certificate Program 2,585,957 126,254 515 25,588 152,357 Investment Fund 34,170 — — 7,742 7,742 Total unconsolidated VIEs $ 4,529,346 $ 220,135 $ 877 $ 52,098 $ 273,110 December 31, 2019 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 93,881 $ 362 $ 18,768 $ 113,011 Certificate Program 126,254 515 25,588 152,357 Investment Fund — — 7,742 7,742 Total unconsolidated VIEs $ 220,135 $ 877 $ 52,098 $ 273,110
Consolidated VIEs
Variable Interest Entity [Line Items]
Summary of Select Information Related to VIEs	The following tables present a summary of financial assets and liabilities from the Company’s involvement with consolidated VIEs at June 30, 2020 and December 31, 2019 : June 30, 2020 Assets Liabilities Net Assets LC Trust $ 105,189 $ (102,825 ) $ 2,364 Consolidated trusts 204,345 (193,387 ) 10,958 Warehouse credit facilities 383,746 (295,209 ) 88,537 Total consolidated VIEs $ 693,280 $ (591,421 ) $ 101,859 December 31, 2019 Assets Liabilities Net Assets LC Trust $ 201,696 $ (199,520 ) $ 2,176 Consolidated trusts 43,300 (40,687 ) 2,613 Warehouse credit facilities 580,388 (388,925 ) 191,463 Total consolidated VIEs $ 825,384 $ (629,132 ) $ 196,252

Fair Value of Assets and Liab_2

Fair Value of Assets and Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair Value Hierarchy of Assets and Liabilities Measured on a Recurring Basis	The following tables present the fair value hierarchy for assets and liabilities measured at fair value at June 30, 2020 and December 31, 2019 : June 30, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans held for investment $ — $ — $ 785,228 $ 785,228 Loans held for investment by the Company — — 65,557 65,557 Loans held for sale by the Company — — 587,093 587,093 Securities available for sale: Asset-backed senior securities and subordinated securities — 94,616 18,956 113,572 CLUB Certificate asset-backed securities — — 76,634 76,634 Corporate debt securities — 8,532 — 8,532 Commercial paper — 8,293 — 8,293 Other asset-backed securities — 8,199 8,199 Certificates of deposit — 6,700 — 6,700 Total securities available for sale — 126,340 95,590 221,930 Servicing assets — — 65,515 65,515 Total assets $ — $ 126,340 $ 1,598,983 $ 1,725,323 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 785,928 $ 785,928 Payable to Structured Program note and certificate holders — — 193,034 193,034 Deferred revenue — — 4,538 4,538 Loan trailing fee liability — — 9,213 9,213 Total liabilities $ — $ — $ 992,713 $ 992,713 December 31, 2019 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Assets: Loans held for investment $ — $ — $ 1,079,315 $ 1,079,315 Loans held for investment by the Company — — 43,693 43,693 Loans held for sale by the Company — — 722,355 722,355 Securities available for sale: Asset-backed senior securities and subordinated securities — 109,339 21,090 130,429 CLUB Certificate asset-backed securities — — 89,706 89,706 Corporate debt securities — 14,343 — 14,343 Certificates of deposit — 13,100 — 13,100 Other asset-backed securities — 12,080 — 12,080 Commercial paper — 9,274 — 9,274 U.S. agency securities — 1,995 — 1,995 Total securities available for sale — 160,131 110,796 270,927 Servicing assets — — 89,680 89,680 Total assets $ — $ 160,131 $ 2,045,839 $ 2,205,970 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 1,081,466 $ 1,081,466 Payable to Structured Program note and certificate holders — — 40,610 40,610 Loan trailing fee liability — — 11,099 11,099 Total liabilities $ — $ — $ 1,133,175 $ 1,133,175
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 at June 30, 2020 and December 31, 2019 : June 30, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 338,394 $ — $ 338,394 $ — $ 338,394 Restricted cash (1) 134,345 — 134,345 — 134,345 Servicer reserve receivable 41 — 41 — 41 Deposits 892 — 892 — 892 Total assets $ 473,672 $ — $ 473,672 $ — $ 473,672 Liabilities: Accrued expenses and other liabilities $ 18,414 $ — $ — $ 18,414 $ 18,414 Accounts payable 2,951 — 2,951 — 2,951 Payables to investors 49,405 — 49,405 — 49,405 Credit facilities and securities sold under repurchase agreements 480,079 — 66,378 413,701 480,079 Total liabilities $ 550,849 $ — $ 118,734 $ 432,115 $ 550,849 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments. December 31, 2019 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 243,779 $ — $ 243,779 $ — $ 243,779 Restricted cash (1) 243,343 — 243,343 — 243,343 Servicer reserve receivable 73 — 73 — 73 Deposits 953 — 953 — 953 Total assets $ 488,148 $ — $ 488,148 $ — $ 488,148 Liabilities: Accrued expenses and other liabilities $ 24,899 $ — $ — $ 24,899 $ 24,899 Accounts payable 10,855 — 10,855 — 10,855 Payables to investors 97,530 — 97,530 — 97,530 Credit facilities and securities sold under repurchase agreements 587,453 — 77,143 510,310 587,453 Total liabilities $ 720,737 $ — $ 185,528 $ 535,209 $ 720,737 (1) Carrying amount approximates fair value due to the short maturity of these financial instruments.
Asset-backed Securities Related to Structured Program Transactions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for asset-backed securities related to Structured Program transactions at June 30, 2020 and December 31, 2019 : Asset-Backed Securities Related to Structured Program Transactions June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 1.1 % 20.0 % 11.3 % 3.4 % 20.7 % 8.8 % Net cumulative expected loss rates (1) 5.7 % 35.8 % 20.9 % 4.5 % 37.9 % 19.2 % Cumulative expected prepayment rates (1) 9.4 % 30.4 % 23.9 % 17.3 % 35.1 % 29.4 % (1) Expressed as a percentage of the outstanding collateral balance.
Fair Value Sensitivity of Loans	The following tables present adverse changes to the fair value sensitivity of Level 2 and Level 3 asset-backed securities related to Structured Program transactions to changes in key assumptions at June 30, 2020 and December 31, 2019 : June 30, 2020 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 94,616 $ 18,956 $ 76,634 Expected weighted-average life (in years) 1.3 1.8 1.3 Discount rates 100 basis point increase $ (871 ) $ (262 ) $ (685 ) 200 basis point increase $ (1,716 ) $ (472 ) $ (1,354 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (2,519 ) $ (2,429 ) 20% adverse change $ — $ (4,996 ) $ (4,858 ) Expected prepayment rates 10% adverse change $ — $ (907 ) $ (774 ) 20% adverse change $ — $ (1,749 ) $ (1,549 ) December 31, 2019 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 109,339 $ 21,090 $ 89,706 Expected weighted-average life (in years) 1.1 1.4 1.1 Discount rates 100 basis point increase $ (1,050 ) $ (300 ) $ (823 ) 200 basis point increase $ (2,076 ) $ (513 ) $ (1,627 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (2,162 ) $ (2,163 ) 20% adverse change $ — $ (4,273 ) $ (4,311 ) Expected prepayment rates 10% adverse change $ — $ (814 ) $ (654 ) 20% adverse change $ — $ (1,495 ) $ (1,279 )
Fair Value, Liabilities Measured on Recurring Basis	The following table presents additional information about Level 3 asset-backed securities related to Structured Program transactions measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 103,511 $ 79,425 $ 110,796 $ 60,279 Additions 2,427 26,434 26,012 54,347 Redemptions (376 ) — (376 ) — Cash received (17,808 ) (10,968 ) (34,074 ) (18,406 ) Change in unrealized gain (loss) 2,131 1,074 (3,125 ) 908 Accrued interest 2,194 — 3,826 — Provision for credit loss expense 3,511 — (7,469 ) — Other-than-temporary impairment — (144 ) — (1,307 ) Fair value at end of period $ 95,590 $ 95,821 $ 95,590 $ 95,821
Loans Invested in by Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loans invested in by the Company at June 30, 2020 and December 31, 2019 : Loans Invested in by the Company June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.1 % 9.6 % 6.0 % 11.5 % 7.8 % Net cumulative expected loss rates (1) 6.2 % 31.9 % 14.1 % 3.6 % 36.6 % 10.9 % Cumulative expected prepayment rates (1) 26.2 % 37.8 % 30.7 % 27.3 % 41.0 % 31.6 % (1) Expressed as a percentage of the original principal balance of the loan.
Fair Value of Assets Measured on a Recurring Basis	The following tables present additional information about Level 3 loans invested in by the Company measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2020 $ 83,650 $ (12,647 ) $ 71,003 $ 835,557 $ (93,853 ) $ 741,704 $ 919,207 $ (106,500 ) $ 812,707 Purchases 386 (312 ) 74 23,363 — 23,363 23,749 (312 ) 23,437 Transfers (to) from loans held for investment and/or loans held for sale 137 — 137 (36 ) — (36 ) 101 — 101 Sales — — — (112,527 ) 10,947 (101,580 ) (112,527 ) 10,947 (101,580 ) Principal payments and retirements (7,949 ) — (7,949 ) (71,588 ) — (71,588 ) (79,537 ) — (79,537 ) Charge-offs, net of recoveries (1,065 ) 377 (688 ) (6,507 ) 6,018 (489 ) (7,572 ) 6,395 (1,177 ) Change in fair value recorded in earnings — 2,980 2,980 — (4,281 ) (4,281 ) — (1,301 ) (1,301 ) Balance at June 30, 2020 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2019 $ 11,233 $ (2,476 ) $ 8,757 $ 584,872 $ (32,706 ) $ 552,166 $ 596,105 $ (35,182 ) $ 560,923 Purchases 789 (615 ) 174 1,189,003 — 1,189,003 1,189,792 (615 ) 1,189,177 Transfers (to) from loans held for investment and/or loans held for sale (3,583 ) — (3,583 ) 3,812 — 3,812 229 — 229 Sales — — — (1,249,866 ) 40,544 (1,209,322 ) (1,249,866 ) 40,544 (1,209,322 ) Principal payments and retirements (920 ) — (920 ) (64,060 ) — (64,060 ) (64,980 ) — (64,980 ) Charge-offs, net of recoveries (969 ) 410 (559 ) (5,974 ) 5,783 (191 ) (6,943 ) 6,193 (750 ) Change in fair value recorded in earnings — 1,158 1,158 — (36,325 ) (36,325 ) — (35,167 ) (35,167 ) Balance at June 30, 2019 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2019 $ 47,042 $ (3,349 ) $ 43,693 $ 747,394 $ (25,039 ) $ 722,355 $ 794,436 $ (28,388 ) $ 766,048 Purchases 1,113 (1,005 ) 108 1,402,457 — 1,402,457 1,403,570 (1,005 ) 1,402,565 Transfers (to) from loans held for investment and/or loans held for sale 43,325 — 43,325 (43,159 ) — (43,159 ) 166 — 166 Sales — — — (1,283,934 ) 30,856 (1,253,078 ) (1,283,934 ) 30,856 (1,253,078 ) Principal payments and retirements (13,633 ) — (13,633 ) (141,691 ) — (141,691 ) (155,324 ) — (155,324 ) Charge-offs, net of recoveries (2,688 ) 511 (2,177 ) (12,805 ) 11,797 (1,008 ) (15,493 ) 12,308 (3,185 ) Change in fair value recorded in earnings — (5,759 ) (5,759 ) — (98,783 ) (98,783 ) — (104,542 ) (104,542 ) Balance at June 30, 2020 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Loans Held for Investment by the Company Loans Held for Sale by the Company Total Loans Invested in by the Company Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2018 $ 3,518 $ (935 ) $ 2,583 $ 869,715 $ (29,694 ) $ 840,021 $ 873,233 $ (30,629 ) $ 842,604 Purchases 1,170 (994 ) 176 2,032,551 — 2,032,551 2,033,721 (994 ) 2,032,727 Transfers (to) from loans held for investment and/or loans held for sale 4,950 (1,471 ) 3,479 (4,498 ) 1,471 (3,027 ) 452 — 452 Sales — — — (2,295,746 ) 62,294 (2,233,452 ) (2,295,746 ) 62,294 (2,233,452 ) Principal payments and retirements (1,455 ) — (1,455 ) (131,878 ) — (131,878 ) (133,333 ) — (133,333 ) Charge-offs, net of recoveries (1,633 ) 847 (786 ) (12,357 ) 11,963 (394 ) (13,990 ) 12,810 (1,180 ) Change in fair value recorded in earnings — 1,030 1,030 — (68,738 ) (68,738 ) — (67,708 ) (67,708 ) Balance at June 30, 2019 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110
Fair Value Sensitivity of Loans	The fair value sensitivity of loans invested in by the Company to adverse changes in key assumptions as of June 30, 2020 and December 31, 2019 , are as follows: June 30, December 31, Fair value of loans invested in by the Company $ 652,650 $ 766,048 Expected weighted-average life (in years) 1.3 1.5 Discount rates 100 basis point increase $ (7,865 ) $ (9,806 ) 200 basis point increase $ (15,578 ) $ (19,410 ) Expected credit loss rates on underlying loans 10% adverse change $ (10,718 ) $ (9,558 ) 20% adverse change $ (21,544 ) $ (19,136 ) Expected prepayment rates 10% adverse change $ (2,093 ) $ (2,429 ) 20% adverse change $ (4,083 ) $ (4,740 )
Servicing Assets
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for servicing assets at June 30, 2020 and December 31, 2019 : Servicing Assets June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.0 % 2.9 % 14.8 % 8.6 % Net cumulative expected loss rates (1) 5.5 % 31.8 % 14.7 % 3.7 % 36.1 % 12.4 % Cumulative expected prepayment rates (1) 25.7 % 37.4 % 30.3 % 27.5 % 41.8 % 32.5 % Total market servicing rates (% per annum on outstanding principal balance) (2) 0.66 % 0.66 % 0.66 % 0.66 % 0.66 % 0.66 % (1) Expressed as a percentage of the original principal balance of the loan. (2) Includes collection fees estimated to be paid to a hypothetical third-party servicer.
Fair Value of Assets Measured on a Recurring Basis	The following table presents additional information about Level 3 servicing assets measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 92,825 $ 71,848 $ 89,680 $ 64,006 Issuances (1) 1,755 18,700 19,336 34,546 Change in fair value, included in investor fees (25,062 ) (12,066 ) (34,670 ) (23,105 ) Other net changes included in deferred revenue (4,003 ) 232 (8,831 ) 3,267 Fair value at end of period $ 65,515 $ 78,714 $ 65,515 $ 78,714 (1) Represents the gains or losses on sales of the related loans.
Fair Value Disclosure And Measurement	The table below shows the impact on the estimated fair value of servicing assets, calculated using different market servicing rate assumptions as of June 30, 2020 and December 31, 2019 : Servicing Assets June 30, December 31, 2019 Weighted-average market servicing rate assumptions 0.66 % 0.66 % Change in fair value from: Servicing rate increase by 0.10% $ (9,174 ) $ (13,978 ) Servicing rate decrease by 0.10% $ 9,175 $ 13,979
Fair Value Sensitivity of Servicing Assets	The following table presents the fair value sensitivity of servicing assets to adverse changes in key assumptions as of June 30, 2020 and December 31, 2019 : Servicing Assets June 30, December 31, 2019 Fair value of Servicing Assets $ 65,515 $ 89,680 Discount rates 100 basis point increase $ (529 ) $ (680 ) 200 basis point increase $ (1,059 ) $ (1,360 ) Expected loss rates 10% adverse change $ (353 ) $ (582 ) 20% adverse change $ (706 ) $ (1,165 ) Expected prepayment rates 10% adverse change $ (1,652 ) $ (2,962 ) 20% adverse change $ (3,303 ) $ (5,924 )
Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loans held for investment, notes, certificates and secured borrowings at June 30, 2020 and December 31, 2019 : Loans Held for Investment, Notes, Certificates and Secured Borrowings June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Average Minimum Maximum Weighted- Average Discount rates 7.6 % 16.0 % 9.6 % 6.0 % 12.0 % 7.9 % Net cumulative expected loss rates (1) 5.1 % 29.0 % 13.3 % 3.6 % 34.9 % 11.9 % Cumulative expected prepayment rates (1) 26.3 % 38.2 % 30.0 % 28.7 % 38.6 % 31.7 % (1) Expressed as a percentage of the original principal balance of the loan, note, certificate or secured borrowing.
Fair Value of Assets Measured on a Recurring Basis	The following tables present additional information about Level 3 loans held for investment, loans held for sale, and notes, certificates and secured borrowings measured at fair value on a recurring basis for the second quarters and first halves of 2020 and 2019 : Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2020 $ 990,662 $ (105,249 ) $ 885,413 $ — $ — $ — $ 990,662 $ (103,822 ) $ 886,840 Purchases 55,274 — 55,274 57,760 (1,044 ) 56,716 — — — Transfers (to) from loans held for investment and/or loans held for sale (101 ) — (101 ) — — — — — — Issuances — — — — — — 55,274 — 55,274 Sales — — — (57,760 ) 1,224 (56,536 ) — — — Principal payments and retirements (171,541 ) — (171,541 ) — — — (171,642 ) — (171,642 ) Charge-offs, net of recoveries (22,818 ) 14,202 (8,616 ) — — — (22,818 ) 13,556 (9,262 ) Change in fair value recorded in earnings — 24,799 24,799 — (180 ) (180 ) — 24,718 24,718 Balance at June 30, 2020 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at March 31, 2019 $ 1,805,078 $ (106,880 ) $ 1,698,198 $ — $ — $ — $ 1,805,078 $ (101,852 ) $ 1,703,226 Purchases 166,754 — 166,754 552,115 (468 ) 551,647 — — — Transfers (to) from loans held for investment and/or loans held for sale (229 ) — (229 ) — — — — — — Issuances — — — — — — 166,754 — 166,754 Sales — — — (552,115 ) 385 (551,730 ) — — — Principal payments and retirements (317,919 ) — (317,919 ) — — — (318,148 ) — (318,148 ) Charge-offs, net of recoveries (48,427 ) 34,800 (13,627 ) — — — (48,427 ) 34,789 (13,638 ) Change in fair value recorded in earnings — (20,193 ) (20,193 ) — 83 83 — (20,243 ) (20,243 ) Balance at June 30, 2019 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2019 $ 1,148,888 $ (69,573 ) $ 1,079,315 $ — $ — $ — $ 1,148,888 $ (67,422 ) $ 1,081,466 Purchases 159,894 — 159,894 522,588 (2,923 ) 519,665 — — — Transfers (to) from loans held for investment and/or loans held for sale (17,579 ) — (17,579 ) 17,413 — 17,413 — — — Issuances — — — — — — 159,894 — 159,894 Sales — — — (540,001 ) 3,463 (536,538 ) — — — Principal payments and retirements (387,289 ) — (387,289 ) — — — (404,868 ) — (404,868 ) Charge-offs, net of recoveries (52,438 ) 31,513 (20,925 ) — — — (52,438 ) 29,987 (22,451 ) Change in fair value recorded in earnings — (28,188 ) (28,188 ) — (540 ) (540 ) — (28,113 ) (28,113 ) Balance at June 30, 2020 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Loans Held for Investment Loans Held for Sale Notes, Certificates and Secured Borrowings Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Outstanding Principal Balance Valuation Adjustment Fair Value Balance at December 31, 2018 $ 2,013,438 $ (130,187 ) $ 1,883,251 $ — $ — $ — $ 2,033,258 $ (127,383 ) $ 1,905,875 Purchases 359,846 (21 ) 359,825 1,115,151 (468 ) 1,114,683 — — — Transfers (to) from loans held for investment and/or loans held for sale (452 ) — (452 ) — — — — — — Issuances — — — — — — 359,846 — 359,846 Sales — — — (1,115,151 ) (780 ) (1,115,931 ) — — — Principal payments and retirements (658,363 ) — (658,363 ) — — — (678,635 ) 14 (678,621 ) Charge-offs, net of recoveries (109,212 ) 81,676 (27,536 ) — — — (109,212 ) 81,665 (27,547 ) Change in fair value recorded in earnings — (43,741 ) (43,741 ) — 1,248 1,248 — (41,602 ) (41,602 ) Balance at June 30, 2019 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951
Loan Trailing Fee Liability
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements	The following table presents quantitative information about the significant unobservable inputs used for the Company’s Level 3 fair value measurements for loan trailing fee liability at June 30, 2020 and December 31, 2019 : Loan Trailing Fee Liability June 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.7 % 2.9 % 14.8 % 9.3 % Net cumulative expected loss rates (1) 5.6 % 31.8 % 16.9 % 3.7 % 36.0 % 14.4 % Cumulative expected prepayment rates (1) 25.8 % 37.5 % 30.6 % 28.5 % 41.7 % 33.0 % (1) Expressed as a percentage of the original principal balance of the loan.
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 second quarters and first halves of 2020 and 2019 : Three Months Ended Six Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 10,372 $ 10,061 $ 11,099 $ 10,010 Issuances 181 1,910 1,966 3,400 Cash payment of Loan Trailing Fee (1,829 ) (1,936 ) (3,897 ) (3,905 ) Change in fair value, included in Origination and Servicing 489 189 45 719 Fair value at end of period $ 9,213 $ 10,224 $ 9,213 $ 10,224

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	6 Months Ended
	Jun. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, equipment and software, net, consist of the following: June 30, December 31, Internally developed software (1) $ 111,245 $ 117,510 Leasehold improvements 36,158 39,315 Computer equipment 26,474 26,669 Purchased software 17,825 11,846 Furniture and fixtures 8,894 9,406 Construction in progress 2,949 4,937 Total property, equipment and software 203,545 209,683 Accumulated depreciation and amortization (96,848 ) (95,313 ) Total property, equipment and software, net $ 106,697 $ 114,370 (1) Includes $13.2 million and $21.3 million of development in progress as of June 30, 2020 and December 31, 2019 , respectively.

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: June 30, December 31, Loan servicing assets, at fair value (1) $ 65,515 $ 89,680 Accounts receivable 14,465 19,017 Prepaid expenses 13,315 14,862 Other investments 8,275 8,242 Deferred financing costs 770 1,484 Other 7,362 10,383 Total other assets $ 109,702 $ 143,668 (1) As of June 30, 2020 and December 31, 2019 , loans underlying loan servicing rights had a total outstanding principal balance of $12.4 billion and $14.1 billion , respectively.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	6 Months Ended
	Jun. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: June 30, December 31, Transaction fee refund reserve $ 18,798 $ 25,541 Contingent liabilities (1) 16,375 16,000 Accrued expenses 15,709 36,797 Accrued compensation 10,334 30,484 Loan trailing fee liability, at fair value 9,213 11,099 Deferred revenue 4,801 13,688 Other 11,139 9,027 Total accrued expenses and other liabilities $ 86,369 $ 142,636 (1) See “ Note 18. Commitments and Contingencies ” for further information.

Employee Incentive Plans (Table

Employee Incentive Plans (Tables)	6 Months Ended
	Jun. 30, 2020
Postemployment Benefits [Abstract]
Total Stock-based Compensation Expense	Stock-based compensation expense was as follows for the periods presented: Three Months Ended Six Months Ended 2020 2019 2020 2019 RSUs and PBRSUs $ 13,975 $ 19,859 $ 31,681 $ 37,044 Stock options 229 560 652 1,275 ESPP — 132 — 484 Total stock-based compensation expense $ 14,204 $ 20,551 $ 32,333 $ 38,803
Schedule of Stock-based Compensation Expense Recorded in Condensed Consolidated Statement of Operations	The following table presents the Company’s stock-based compensation expense recorded in the Condensed Consolidated Statements of Operations : Three Months Ended Six Months Ended 2020 2019 2020 2019 Sales and marketing $ 731 $ 1,540 $ 2,394 $ 3,111 Origination and servicing 722 846 1,358 1,770 Engineering and product development 2,668 5,475 7,283 10,706 Other general and administrative 10,083 12,690 21,298 23,216 Total stock-based compensation expense $ 14,204 $ 20,551 $ 32,333 $ 38,803
Schedule of RSU Activity	The following table summarizes the activities for the Company’s RSUs during the first half of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 9,597,404 $ 16.78 Granted 10,047,445 $ 9.56 Vested (2,048,657 ) $ 16.95 Forfeited/expired (3,917,787 ) $ 13.86 Unvested at June 30, 2020 13,678,405 $ 12.29
Schedule of PBRSU Activity	The following table summarizes the activities for the Company’s PBRSUs during the first half of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 471,589 $ 16.94 Vested (102,905 ) $ 18.06 Forfeited/expired (1) (203,400 ) $ 16.70 Unvested at June 30, 2020 165,284 $ 16.24 (1) Primarily relates to the portion of PBRSUs granted in 2018 and 2019 that were unearned as a result of not achieving certain pre-established performance metrics during the performance period.

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Supplemental Balance Sheet Information	Balance sheet information as of June 30, 2020 related to leases was as follows: ROU Assets and Lease Liabilities June 30, 2020 Operating lease assets $ 79,407 Operating lease liabilities (1) $ 100,911 (1)
Lease Costs	Components of net lease costs for the second quarters of 2020 and 2019 were as follows: Three Months Ended Six Months Ended Net Lease Costs Income Statement Classification 2020 2019 2020 2019 Operating lease costs (1) Other general and administrative expense $ (4,573 ) $ (4,979 ) $ (9,193 ) $ (10,171 ) Sublease revenue Other revenue 1,537 1,016 3,071 2,023 Net lease costs $ (3,036 ) $ (3,963 ) $ (6,122 ) $ (8,148 ) (1) Includes variable lease costs of $0.3 million and $0.5 million for the second quarters of 2020 and 2019 , respectively. Includes variable lease costs of $0.7 million and $0.8 million for the first halves of 2020 and 2019 , respectively.
Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s operating leases for the second quarters of 2020 and 2019 was as follows: Three Months Ended Six Months Ended 2020 2019 2020 2019 Non-cash operating activity: Leased assets obtained in exchange for new and amended operating lease liabilities (1) $ 84 $ — $ 84 $ 15,277 (1) Represents non-cash activity and, accordingly, is not reflected in the Condensed Consolidated Statements of Cash Flows . Amount includes noncash remeasurements of the operating lease right-of-use asset.
Future Minimum Undiscounted Lease Payments	The Company’s future minimum undiscounted lease payments under operating leases and anticipated sublease revenue as of June 30, 2020 were as follows: Operating Lease Payments Sublease Revenue Net Remainder of 2020 $ 8,826 $ (3,560 ) $ 5,266 2021 19,271 (6,767 ) 12,504 2022 14,134 (2,918 ) 11,216 2023 10,761 — 10,761 2024 11,072 — 11,072 Thereafter 68,383 — 68,383 Total lease payments (1) $ 132,447 $ (13,245 ) $ 119,202 Discount effect 31,536 Present value of future minimum lease payments $ 100,911 (1) As of June 30, 2020 , the Company entered into an additional operating lease which has not yet commenced and is therefore not part of the table above nor included in the lease right-of-use asset and liability. This lease will commence when the Company obtains possession of the underlying asset, which is expected to be on January 1, 2021. The lease term is 8.25 years and has an undiscounted future rent payment of approximately $8.6 million .
Weighted-average Remaining Lease Term and Discount Rate	The weighted-average remaining lease term and discount rate used in the calculation of the Company’s operating lease assets and liabilities were as follows: Lease Term and Discount Rate June 30, 2020 Weighted-average remaining lease term (in years) 9.23 Weighted-average discount rate 5.75 %

Restructuring Costs Restructuri

Restructuring Costs Restructuring and Related Activities (Tables)	6 Months Ended
	Jun. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Expense	The following table presents the restructuring costs for the second quarter and first half of 2020 recorded in the Company’s Condensed Consolidated Statements of Operations: Sales and marketing $ 1,379 Origination and servicing 906 Engineering and product development 7,472 Other general and administrative 7,279 Total $ 17,036

Revenue from Contracts with C_3

Revenue from Contracts with Customers - Disaggregation of Revenue by Source (Details) - Transferred over Time - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 4,499	$ 153,535	$ 142,356	$ 289,627
Transaction fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	3,874	152,207	140,117	287,604
Referral fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 625	$ 1,328	$ 2,239	$ 2,023

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Revenue from Contract with Customer [Abstract]
Bad debt expense	$ 0	$ 0	$ 0	$ 0
Contract assets	0		0		$ 0
Contract liabilities	0		0		0
Deferred contract costs	0		0		$ 0
Revenue recognized from performance obligations related to prior periods	$ 0	$ 0	$ 0	$ 0

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		1 Months Ended	3 Months Ended		4 Months Ended	6 Months Ended
		Feb. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss			$ (78,471)	$ (10,661)		$ (126,558)	$ (30,596)
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss						(104,686)	(30,596)
Deemed dividend						(50,204)	0
Net loss attributable to stockholders			$ (61,389)	$ (10,661)		$ (154,890)	$ (30,596)
Weighted-average common shares - Basic and Diluted (shares)	[1]		70,304,166	86,719,049		78,406,162	86,429,892
Net loss per share attributable to common stockholders:
Net loss per share – Basic and Diluted ($ per share)	[1]		$ (0.87)	$ (0.12)		$ (1.98)	$ (0.35)
Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss						$ (21,872)
Deemed dividend		$ 50,200			$ 0	50,204
Net loss attributable to stockholders			$ (17,082)			$ 28,332
Weighted-average common shares - Basic and Diluted (shares)	[1]		19,562,714	0		11,071,212	0
Net loss per share attributable to common stockholders:
Net loss per share – Basic and Diluted ($ per share)	[1]		$ (0.87)	$ 0		$ 2.56	$ 0
[1]	See “ Notes to Condensed Consolidated Financial Statements – Note 4. Net Income (Loss) Per Share ” and “ Note 14. Stockholders' Equity ” for additional information.

Net Income (Loss) Per Share - C

Net Income (Loss) Per Share - Conversion of Shares (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 20, 2020	Feb. 29, 2020	Jun. 30, 2020	Dec. 31, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Common stock, par value ($ per share)	$ 0.01		$ 0.01	$ 0.01
Preferred stock, par value ($ per share)			$ 0.01
One-time cash payment	$ 50.2	$ 50.2
Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Preferred stock, par value ($ per share)	$ 0.01
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion of stock, shares converted		19,562,881
Largest Stockholder | Series A Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion of stock, shares issued	195,628
Largest Stockholder | Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Conversion of stock, shares converted	19,562,881

Net Income (Loss) Per Share - S

Net Income (Loss) Per Share - Shares Excluded from Calculation of Earnings (Loss) per Share (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	19,760,091	1,098,900	11,337,640	1,044,850
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	19,562,714	0	11,071,212	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	196,009	883,665	250,092	881,637
RSUs and PBRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	1,368	215,235	16,336	163,213

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 245,083		$ 271,173
Gross Unrealized Gains	374		1,078
Gross Unrealized Losses	(7,956)		(1,324)
Allowance for Credit Losses	(15,571)	$ (18,835)	0
Fair Value	221,930		270,927
Asset-backed senior securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	98,300		108,780
Gross Unrealized Gains	5		597
Gross Unrealized Losses	(3,689)		(38)
Allowance for Credit Losses	0
Fair Value	94,616		109,339
Securities pledged as collateral at fair value	148,800		174,800
CLUB Certificate asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	86,000		90,728
Gross Unrealized Gains	79		41
Gross Unrealized Losses	(2,858)		(1,063)
Allowance for Credit Losses	(6,587)	(8,638)	0
Fair Value	76,634		89,706
Asset-backed subordinated securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	29,106		20,888
Gross Unrealized Gains	243		423
Gross Unrealized Losses	(1,409)		(221)
Allowance for Credit Losses	(8,984)	$ (10,197)	0
Fair Value	18,956		21,090
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,502		14,333
Gross Unrealized Gains	30		11
Gross Unrealized Losses	0		(1)
Allowance for Credit Losses	0
Fair Value	8,532		14,343
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,293		9,274
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Allowance for Credit Losses	0
Fair Value	8,293		9,274
Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	8,182		12,075
Gross Unrealized Gains	17		6
Gross Unrealized Losses	0		(1)
Allowance for Credit Losses	0
Fair Value	8,199		12,080
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,700		13,100
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Allowance for Credit Losses	0
Fair Value	6,700		13,100
U.S. agency securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost			1,995
Gross Unrealized Gains			0
Gross Unrealized Losses			0
Fair Value			1,995
Asset-backed securities, securitized loans and receivables, subject to restrictions on transfer
Debt Securities, Available-for-sale [Line Items]
Fair Value	$ 173,800		$ 219,000

Securities Available for Sale_2

Securities Available for Sale - Continuous loss (Details) $ in Thousands	Jun. 30, 2020USD ($)position	Dec. 31, 2019USD ($)position
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 117,624	$ 99,025
Unrealized Losses, Less than 12 months	(7,935)	(1,289)
Fair Value, 12 months or longer	1,201	1,875
Unrealized Losses, 12 months or longer	(21)	(35)
Fair Value	118,825	100,900
Unrealized Losses	$ (7,956)	$ (1,324)
Number of positions with unrealized losses | position	131	70
Asset-backed securities related to Structured Program transactions
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 116,173	$ 91,350
Unrealized Losses, Less than 12 months	(7,935)	(1,287)
Fair Value, 12 months or longer	1,201	1,875
Unrealized Losses, 12 months or longer	(21)	(35)
Fair Value	117,374	93,225
Unrealized Losses	(7,956)	(1,322)
Corporate debt securities
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	1,451	4,613
Unrealized Losses, Less than 12 months	0	(1)
Fair Value, 12 months or longer	0	0
Unrealized Losses, 12 months or longer	0	0
Fair Value	1,451	4,613
Unrealized Losses	$ 0	(1)
Other asset-backed securities
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months		3,062
Unrealized Losses, Less than 12 months		(1)
Fair Value, 12 months or longer		0
Unrealized Losses, 12 months or longer		0
Fair Value		3,062
Unrealized Losses		$ (1)

Securities Available for Sale_3

Securities Available for Sale - Maturities (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair value
Fair value, within 1 year	$ 27,939
Fair value, after 1 year through 5 years	3,785
Fair value	221,930	$ 270,927
Amortized cost
Amortized cost, within 1 year	27,905
amortized cost, after 1 year through 5 years	3,772
Amortized Cost	245,083	271,173
Corporate debt securities
Fair value
Fair value, within 1 year	8,532
Fair value	8,532	14,343
Amortized cost
Amortized cost, within 1 year	8,502
Amortized Cost	8,502	14,333
Certificates of deposit
Fair value
Fair value, within 1 year	6,700
Fair value	6,700	13,100
Amortized cost
Amortized cost, within 1 year	6,700
Amortized Cost	6,700	13,100
Other asset-backed securities
Fair value
Fair value, within 1 year	4,414
Fair value, after 1 year through 5 years	3,785
Fair value	8,199	12,080
Amortized cost
Amortized cost, within 1 year	4,410
amortized cost, after 1 year through 5 years	3,772
Amortized Cost	8,182	12,075
Commercial paper
Fair value
Fair value, within 1 year	8,293
Fair value	8,293	9,274
Amortized cost
Amortized cost, within 1 year	8,293
Amortized Cost	8,293	$ 9,274
Asset-backed Securities Related to Structured Program Transactions
Fair value
Fair value	190,206
Amortized cost
Amortized Cost	$ 213,406

Securities Available for Sale_4

Securities Available for Sale - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for Credit Losses, beginning	$ (18,835)	$ 0
Provision for credit loss expense	3,511	(7,469)
Allowance arising from PCD financial assets	(247)	(8,102)
Allowance for credit losses, ending	(15,571)	(15,571)
Asset-backed senior securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for credit losses, ending	0	0
CLUB Certificate asset-backed securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for Credit Losses, beginning	(8,638)	0
Provision for credit loss expense	2,051	(2,633)
Allowance arising from PCD financial assets	0	(3,954)
Allowance for credit losses, ending	(6,587)	(6,587)
Asset-backed subordinated securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for Credit Losses, beginning	(10,197)	0
Provision for credit loss expense	1,460	(4,836)
Allowance arising from PCD financial assets	(247)	(4,148)
Allowance for credit losses, ending	$ (8,984)	$ (8,984)

Securities Available for Sale_5

Securities Available for Sale - Securities Purchased with Credit Deterioration (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Purchase price of PCD securities at acquisition	$ 2,426	$ 25,469
Allowance for credit losses on PCD securities at acquisition	247	8,102
Par value of acquired PCD securities at acquisition	$ 2,673	$ 33,571

Securities Available for Sale_6

Securities Available for Sale - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Schedule of Securities Available-for-sale [Line Items]
Other-than-temporary impairment charges				$ 1,300,000
Credit losses recognized into earnings for other-than-temporary impaired securities		$ 0		0
Sale of asset-backed securities	$ 0	3,300,000	$ 2,396,000	6,400,000
Asset-backed Securities Related to Structured Program Transactions
Schedule of Securities Available-for-sale [Line Items]
Credit loss expense	(3,500,000)		7,500,000
Other-than-temporary impairment charges		100,000
Other asset-backed securities
Schedule of Securities Available-for-sale [Line Items]
Sale of asset-backed securities	400,000	1,200,000,000	$ 1,000,000,000	2,000,000,000
Realized gains (losses) on sale of asset-backed securities	$ 0	$ 0		$ 0

Securities Available for Sale_7

Securities Available for Sale - Proceeds and Gross Realized Gains and Losses from Sales of Other Securities Available for Sale (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 0	$ 3,300	$ 2,396	$ 6,400
Gross realized gains	0	0	3	0
Gross realized losses	$ (2)	$ 0	$ (4)	$ 0

Loans Held For Investment, Lo_3

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings (Detail) - USD ($) $ in Thousands		6 Months Ended	12 Months Ended
		Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment at fair value	[1]	$ 785,228	$ 1,079,315
Notes, certificates and secured borrowings, fair value	[1]	785,928	1,081,466
Loans held for sale by the Company, fair value	[1]	587,093	722,355
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes		677,589	863,488
Certificates		101,742	197,842
Secured borrowings		6,597	20,136
Notes, certificates and secured borrowings, fair value		785,928	1,081,466
Fair Value, Measurements, Recurring | Loans Invested in by Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		743,421	794,436
Net fair value adjustments		(90,771)	(28,388)
Fair value of loans invested in by the Company		652,650	766,048	$ 440,110
Fair Value, Measurements, Recurring | Loans Held for Investment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		851,476	1,148,888
Net fair value adjustments		(66,248)	(69,573)
Loans held for investment at fair value		785,228	1,079,315
Fair Value, Measurements, Recurring | Loans Held for Investment | Loans Invested in by Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		75,159	47,042
Net fair value adjustments		(9,602)	(3,349)
Loans held for investment at fair value		65,557	43,693
Fair Value, Measurements, Recurring | Notes, Certificates and Secured Borrowings
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		851,476	1,148,888
Fair value adjustments		(65,548)	(67,422)
Notes, certificates and secured borrowings, fair value		785,928	1,081,466
Fair Value, Measurements, Recurring | Loans Held For Sale | Loans Invested in by Company
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		668,262	747,394
Net fair value adjustments		(81,169)	(25,039)
Loans held for sale by the Company, fair value		$ 587,093	$ 722,355
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Loans Held For Investment, Lo_4

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings - Past Due Table (Details) $ in Thousands	Jun. 30, 2020USD ($)Loan	Dec. 31, 2019USD ($)Loan
Loans Held for Investment
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance	$ 5,870	$ 10,755
Net fair value adjustments	(4,928)	(9,663)
Fair value	$ 942	$ 1,092
Number of loans (not in thousands) | Loan	1,166	1,428
Loans Invested in by Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance	$ 2,231	$ 2,315
Net fair value adjustments	(1,868)	(2,016)
Fair value	$ 363	$ 299
Number of loans (not in thousands) | Loan	230	338

Loans Held For Investment, Lo_5

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings - Additional Information (Detail) - USD ($)		3 Months Ended		6 Months Ended		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2018
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Payable to Structured Program note and certificate holders at fair value (1)	[1]	$ 193,034,000		$ 193,034,000		$ 40,610,000
Net interest income		16,416,000	$ (10,328,000)	$ (60,152,000)	$ (20,245,000)
Loans and Loans Held for Sale
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Nonaccrual policy				90 days
Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans held for investment and loans held for sale, fair value			440,110,000		440,110,000	766,048,000	$ 812,707,000	$ 560,923,000	$ 842,604,000
Net change in fair value recorded in earnings on loans invested in by the Company		(1,301,000)	(35,167,000)	$ (104,542,000)	(67,708,000)
Outstanding Principal Balance, Purchases		23,749,000	1,189,792,000	1,403,570,000	2,033,721,000
Outstanding Principal Balance, Sales		112,527,000	1,249,866,000	1,283,934,000	2,295,746,000
Fair Value, Measurements, Recurring | Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Net fair value adjustments				(90,771,000)		(28,388,000)
Net interest income		20,300,000	21,100,000	42,000,000	41,600,000
Aggregate principal balance outstanding		743,421,000		743,421,000		794,436,000
Fair value of loans invested in by the Company		652,650,000	$ 440,110,000	652,650,000	$ 440,110,000	766,048,000
Fair Value, Measurements, Recurring | Loans Invested in by Company | Loans Held For Sale
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Net fair value adjustments				(81,169,000)		(25,039,000)
Aggregate principal balance outstanding		668,262,000		668,262,000		747,394,000
Whole Loan Investors | Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Outstanding Principal Balance, Sales		112,500,000
Series Trusts | Certificate Program
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Securities issued in securitization transaction, aggregate value		0
Secured Borrowings | Loans Held for Investment
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans pledged as collateral		6,000,000		6,000,000		18,000,000
Personal Loan and Auto Loan Warehouse Credit Facilities | Loans Held For Sale
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans pledged as collateral		357,700,000		357,700,000		551,500,000
Consolidated VIEs | Loans Related to Consolidation of Securitization Trust | Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans held for investment and loans held for sale, fair value		189,600,000		189,600,000		40,300,000
Consolidated VIEs | Loans Related to Consolidation of Securitization Trust | Payables to Securitization Holders | Loans Held for Investment
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans pledged as collateral		189,600,000		189,600,000
Payable to Securitization Note and Certificate Holders at Fair Value | Consolidated VIEs | Loans Related to Consolidation of Securitization Trust | Loans Held for Investment
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Payable to Structured Program note and certificate holders at fair value (1)		$ 193,000,000		$ 193,000,000		$ 40,600,000
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Securitizations and Variable _3

Securitizations and Variable Interest Entities - Summary of Select Information Related to VIEs (Details) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Restricted cash	[1]	$ 134,345	$ 243,343
Securities available for sale at fair value		221,930	270,927
Loans held for investment at fair value	[1]	785,228	1,079,315
Loans held for investment by the Company at fair value	[1]	65,557	43,693
Loans held for sale by the Company at fair value	[1]	587,093	722,355
Accrued interest receivable	[1]	11,314	12,857
Other assets	[1]	109,702	143,668
Total assets		2,452,599	2,982,341
Accrued interest payable	[1]	7,780	9,260
Accrued expenses and other liabilities	[1]	86,369	142,636
Notes, certificates and secured borrowings at fair value	[1]	785,928	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	193,034	40,610
Credit facilities and securities sold under repurchase agreements	[1]	480,079	587,453
Liabilities		1,706,457	2,082,154
Total
Variable Interest Entity [Line Items]
Restricted cash		38,465	30,046
Securities available for sale at fair value		190,206	220,135
Loans held for investment at fair value		101,742	197,842
Loans held for investment by the Company at fair value		64,634	40,251
Loans held for sale by the Company at fair value		482,726	551,455
Accrued interest receivable		5,017	5,308
Other assets		44,114	53,457
Total assets		926,904	1,098,494
Accrued interest payable		2,032	3,185
Accrued expenses and other liabilities		103	244
Notes, certificates and secured borrowings at fair value		101,742	197,842
Payable to Structured Program note and certificate holders at fair value		193,034	40,610
Credit facilities and securities sold under repurchase agreements		294,510	387,251
Liabilities		591,421	629,132
Total net assets		335,483	469,362
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Restricted cash		0	0
Securities available for sale at fair value		190,206	220,135
Loans held for investment at fair value		0	0
Loans held for investment by the Company at fair value		0	0
Loans held for sale by the Company at fair value		0	0
Accrued interest receivable		99	877
Other assets		43,319	52,098
Total assets		233,624	273,110
Accrued interest payable		0	0
Accrued expenses and other liabilities		0	0
Notes, certificates and secured borrowings at fair value		0	0
Payable to Structured Program note and certificate holders at fair value		0	0
Credit facilities and securities sold under repurchase agreements		0	0
Liabilities		0	0
Total net assets		233,624	273,110
Consolidated VIEs
Variable Interest Entity [Line Items]
Restricted cash		38,465	30,046
Securities available for sale at fair value		0	0
Loans held for investment at fair value		101,742	197,842
Loans held for investment by the Company at fair value		64,634	40,251
Loans held for sale by the Company at fair value		482,726	551,455
Accrued interest receivable		4,918	4,431
Other assets		795	1,359
Total assets		693,280	825,384
Accrued interest payable		2,032	3,185
Accrued expenses and other liabilities		103	244
Notes, certificates and secured borrowings at fair value		101,742	197,842
Payable to Structured Program note and certificate holders at fair value		193,034	40,610
Credit facilities and securities sold under repurchase agreements		294,510	387,251
Liabilities		591,421	629,132
Total net assets		$ 101,859	$ 196,252
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Securitizations and Variable _4

Securitizations and Variable Interest Entities - Summary of Financial Asset and Liability Involvement with Consolidated VIEs (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 2,452,599	$ 2,982,341
Liabilities	(1,706,457)	(2,082,154)
Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	693,280	825,384
Liabilities	(591,421)	(629,132)
Net Assets	101,859	196,252
LC Trust | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	105,189	201,696
Liabilities	(102,825)	(199,520)
Net Assets	2,364	2,176
Consolidated trusts | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	204,345	43,300
Liabilities	(193,387)	(40,687)
Net Assets	10,958	2,613
Warehouse Credit Facilities | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	383,746	580,388
Liabilities	(295,209)	(388,925)
Net Assets	$ 88,537	$ 191,463

Securitizations and Variable _5

Securitizations and Variable Interest Entities - Unconsolidated VIEs with Significant Continuing Involvement (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	$ 4,241,394	$ 4,529,346
Carrying Value, Net Assets	233,624	273,110
Maximum Exposure to Loss	233,624	273,110
Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	1,738,085	1,909,219
Carrying Value, Net Assets	89,033	113,011
Maximum Exposure to Loss	89,033	113,011
Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	2,469,325	2,585,957
Carrying Value, Net Assets	136,816	152,357
Maximum Exposure to Loss	136,816	152,357
Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	33,984	34,170
Carrying Value, Net Assets	7,775	7,742
Maximum Exposure to Loss	7,775	7,742
Securities Available for Sale | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	190,206	220,135
Maximum Exposure to Loss	190,206	220,135
Securities Available for Sale | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	74,863	93,881
Maximum Exposure to Loss	74,863	93,881
Securities Available for Sale | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	115,343	126,254
Maximum Exposure to Loss	115,343	126,254
Securities Available for Sale | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	0	0
Maximum Exposure to Loss	0	0
Accrued Interest Receivable | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	99	877
Maximum Exposure to Loss	99	877
Accrued Interest Receivable | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	54	362
Maximum Exposure to Loss	54	362
Accrued Interest Receivable | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	45	515
Maximum Exposure to Loss	45	515
Accrued Interest Receivable | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	0	0
Maximum Exposure to Loss	0	0
Other Assets | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	43,319	52,098
Maximum Exposure to Loss	43,319	52,098
Other Assets | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	14,116	18,768
Maximum Exposure to Loss	14,116	18,768
Other Assets | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	21,428	25,588
Maximum Exposure to Loss	21,428	25,588
Other Assets | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Carrying Value, Assets	7,775	7,742
Maximum Exposure to Loss	$ 7,775	$ 7,742
Other Assets
Variable Interest Entity [Line Items]
Ownership (percent)	23.00%
Other assets	$ 7,800

Securitizations and Variable _6

Securitizations and Variable Interest Entities - Summary of Personal Whole Loan Securitizations and Sales (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Unconsolidated Trusts
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Principal derecognized from loans securitized or sold	$ 0	$ 558,456	$ 255,203	$ 851,875
Net gains (losses) recognized from loans securitized or sold	0	822	(20)	3,754
Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement	0	27,360	12,707	41,915
Cash proceeds from loans securitized or sold	0	279,038	237,764	545,273
Cash proceeds from servicing and other administrative fees on loans securitized or sold	4,821	4,209	9,942	7,779
Cash proceeds for interest received on senior securities and subordinated securities	1,769	1,195	2,809	2,634
Unconsolidated Certificate Program Trusts
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Principal derecognized from loans securitized or sold	0	483,312	637,637	1,024,440
Net gains (losses) recognized from loans securitized or sold	0	5,643	5,596	11,467
Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement	0	23,781	31,423	50,568
Cash proceeds from loans securitized or sold	0	456,327	598,515	970,212
Cash proceeds from servicing and other administrative fees on loans securitized or sold	7,230	3,651	14,222	6,594
Cash proceeds for interest received on senior securities and subordinated securities	$ 2,620	1,800	4,893	3,235
Structured Program Transactions | Senior securities
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Transferor's Interests Retained in Transferred Financial Assets, Fair Value		24,700	23,000	38,100
Structured Program Transactions | CLUB Certificate asset-backed securities
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Transferor's Interests Retained in Transferred Financial Assets, Fair Value		23,800	18,300	50,600
Structured Program Transactions | Subordinated securities
Fair Value Assumption, Date of Securitization or Asset-backed Financing Arrangement, Transferor's Continuing Involvement, Servicing Assets or Liabilities [Line Items]
Transferor's Interests Retained in Transferred Financial Assets, Fair Value		$ 2,700	$ 2,900	$ 3,800

Securitizations and Variable _7

Securitizations and Variable Interest Entities - Off-balance Sheet Loans Sold or Securitized (Details) - Off-balance Sheet Loans - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Outstanding principal balance	$ 4,200	$ 4,400
Off-balance sheet loans, principal amount outstanding, 31 days or more past due	$ 80	$ 145.6

Fair Value of Assets and Liab_3

Fair Value of Assets and Liabilities - Loans, Loan Servicing Rights, Related Notes and Certificates (Detail) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	[1]	$ 785,228	$ 1,079,315
Loans held for investment by the Company	[1]	65,557	43,693
Loans held for sale by the Company	[1]	587,093	722,355
Securities available for sale at fair value		221,930	270,927
Servicing assets		65,515	89,680
Total assets		1,725,323	2,205,970
Notes, certificates and secured borrowings	[1]	785,928	1,081,466
Payable to Structured Program note and certificate holders	[1]	193,034	40,610
Deferred revenue		4,538
Loan trailing fee liability		9,213	11,099
Total liabilities		992,713	1,133,175
Asset-backed senior securities and subordinated securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		113,572	130,429
CLUB Certificate asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		76,634	89,706
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		8,532	14,343
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		6,700	13,100
Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		8,199	12,080
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		8,293	9,274
U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value			1,995
Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment		0	0
Loans held for investment by the Company		0	0
Loans held for sale by the Company		0	0
Securities available for sale at fair value		0	0
Servicing assets		0	0
Total assets		0	0
Notes, certificates and secured borrowings		0	0
Payable to Structured Program note and certificate holders		0	0
Deferred revenue		0
Loan trailing fee liability		0	0
Total liabilities		0	0
Level 1 Inputs | Asset-backed senior securities and subordinated securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		0	0
Level 1 Inputs | CLUB Certificate asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		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 at fair value		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 at fair value		0	0
Level 1 Inputs | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		0	0
Level 1 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		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 at fair value			0
Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment		0	0
Loans held for investment by the Company		0	0
Loans held for sale by the Company		0	0
Securities available for sale at fair value		126,340	160,131
Servicing assets		0	0
Total assets		126,340	160,131
Notes, certificates and secured borrowings		0	0
Payable to Structured Program note and certificate holders		0	0
Deferred revenue		0
Loan trailing fee liability		0	0
Total liabilities		0	0
Level 2 Inputs | Asset-backed senior securities and subordinated securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		94,616	109,339
Level 2 Inputs | CLUB Certificate asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		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 at fair value		8,532	14,343
Level 2 Inputs | Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		6,700	13,100
Level 2 Inputs | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		8,199	12,080
Level 2 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		8,293	9,274
Level 2 Inputs | U.S. agency securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value			1,995
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment		785,228	1,079,315
Loans held for investment by the Company		65,557	43,693
Loans held for sale by the Company		587,093	722,355
Securities available for sale at fair value		95,590	110,796
Servicing assets		65,515	89,680
Total assets		1,598,983	2,045,839
Notes, certificates and secured borrowings		785,928	1,081,466
Payable to Structured Program note and certificate holders		193,034	40,610
Deferred revenue		4,538
Loan trailing fee liability		9,213	11,099
Total liabilities		992,713	1,133,175
Level 3 Inputs | Asset-backed senior securities and subordinated securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		18,956	21,090
Level 3 Inputs | CLUB Certificate asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		76,634	89,706
Level 3 Inputs | Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		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 at fair value		0	0
Level 3 Inputs | Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value			0
Level 3 Inputs | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		$ 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 at fair value			$ 0
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Fair Value of Assets and Liab_4

Fair Value of Assets and Liabilities - Quantitative Information about Significant Unobservable Inputs Used for Fair Value Measurements (Detail)	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Weighted- Average | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Total market servicing rates (percent per annum on outstanding principal balance)	0.66%
Level 3 Inputs | Minimum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Total market servicing rates (percent per annum on outstanding principal balance)	0.66%		0.66%
Level 3 Inputs | Maximum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Total market servicing rates (percent per annum on outstanding principal balance)	0.66%		0.66%
Level 3 Inputs | Weighted- Average | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Total market servicing rates (percent per annum on outstanding principal balance)			0.66%
Measurement Input, Discount Rate | Level 3 Inputs | Minimum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	4.80%		2.90%
Measurement Input, Discount Rate | Level 3 Inputs | Maximum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	16.40%		14.80%
Measurement Input, Discount Rate | Level 3 Inputs | Weighted- Average | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	10.00%		8.60%
Measurement Input, Discount Rate | Loan Trailing Fee Liability | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	4.80%	2.90%
Measurement Input, Discount Rate | Loan Trailing Fee Liability | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	16.40%	14.80%
Measurement Input, Discount Rate | Loan Trailing Fee Liability | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	10.70%	9.30%
Measurement Input, Discount Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	7.60%		6.00%
Measurement Input, Discount Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	16.00%		12.00%
Measurement Input, Discount Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	9.60%		7.90%
Measurement Input, Loss Severity | Level 3 Inputs | Minimum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	5.50%		3.70%
Measurement Input, Loss Severity | Level 3 Inputs | Maximum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	31.80%		36.10%
Measurement Input, Loss Severity | Level 3 Inputs | Weighted- Average | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	14.70%		12.40%
Measurement Input, Loss Severity | Loan Trailing Fee Liability | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	5.60%	3.70%
Measurement Input, Loss Severity | Loan Trailing Fee Liability | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	31.80%	36.00%
Measurement Input, Loss Severity | Loan Trailing Fee Liability | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	16.90%	14.40%
Measurement Input, Loss Severity | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	5.10%		3.60%
Measurement Input, Loss Severity | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	29.00%		34.90%
Measurement Input, Loss Severity | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	13.30%		11.90%
Measurement Input, Prepayment Rate | Level 3 Inputs | Minimum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	25.70%		27.50%
Measurement Input, Prepayment Rate | Level 3 Inputs | Maximum | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	37.40%		41.80%
Measurement Input, Prepayment Rate | Level 3 Inputs | Weighted- Average | Servicing Assets
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	30.30%		32.50%
Measurement Input, Prepayment Rate | Loan Trailing Fee Liability | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	25.80%	28.50%
Measurement Input, Prepayment Rate | Loan Trailing Fee Liability | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	37.50%	41.70%
Measurement Input, Prepayment Rate | Loan Trailing Fee Liability | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	30.60%	33.00%
Measurement Input, Prepayment Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	26.30%		28.70%
Measurement Input, Prepayment Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	38.20%		38.60%
Measurement Input, Prepayment Rate | Loans Held for Investment, Loans Held for Sale, Notes, Certificates and Secured Borrowings | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	30.00%		31.70%
Loans Invested in by Company | Measurement Input, Discount Rate | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	4.80%		6.00%
Loans Invested in by Company | Measurement Input, Discount Rate | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	16.10%		11.50%
Loans Invested in by Company | Measurement Input, Discount Rate | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	9.60%		7.80%
Loans Invested in by Company | Measurement Input, Loss Severity | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	6.20%		3.60%
Loans Invested in by Company | Measurement Input, Loss Severity | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	31.90%		36.60%
Loans Invested in by Company | Measurement Input, Loss Severity | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	14.10%		10.90%
Loans Invested in by Company | Measurement Input, Prepayment Rate | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	26.20%		27.30%
Loans Invested in by Company | Measurement Input, Prepayment Rate | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	37.80%		41.00%
Loans Invested in by Company | Measurement Input, Prepayment Rate | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	30.70%		31.60%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Discount Rate | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	1.10%		3.40%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Discount Rate | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	20.00%		20.70%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Discount Rate | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	11.30%		8.80%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Loss Severity | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	5.70%		4.50%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Loss Severity | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	35.80%		37.90%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Loss Severity | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	20.90%		19.20%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Prepayment Rate | Level 3 Inputs | Minimum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	9.40%		17.30%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Prepayment Rate | Level 3 Inputs | Maximum
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	30.40%		35.10%
Asset-backed Securities Related to Structured Program Transactions | Measurement Input, Prepayment Rate | Level 3 Inputs | Weighted- Average
Fair Value Inputs Assets And Liabilities Quantitative Information [Line Items]
Measurement input, percent	23.90%		29.40%

Fair Value of Assets and Liab_5

Fair Value of Assets and Liabilities - Additional Information about Loans, Notes, Certificates and Secured Borrowings Measured at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Loans Held for Investment
Loans
Outstanding Principal Balance, Beginning	$ 990,662	$ 1,805,078	$ 1,148,888	$ 2,013,438
Valuation Adjustment, Beginning	(105,249)	(106,880)	(69,573)	(130,187)
Fair Value, Beginning	885,413	1,698,198	1,079,315	1,883,251
Outstanding Principal Balance, Purchases	55,274	166,754	159,894	359,846
Valuation Adjustment, Purchases	0	0	0	(21)
Fair Value, Purchases	55,274	166,754	159,894	359,825
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	(101)	(229)	(17,579)	(452)
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	0
Fair Value, Transfers from loans to loans held for sale	(101)	(229)	(17,579)	(452)
Outstanding Principal Balance, Issuance	0	0	0	0
Valuation Adjustment, Issuances	0	0	0	0
Fair Value, Issuances	0	0	0	0
Outstanding Principal Balance, Sales	0	0	0	0
Valuation Adjustment, Sales	0	0	0	0
Fair Value, Sales	0	0	0	0
Outstanding Principal Balance, Principal payments and retirements	(171,541)	(317,919)	(387,289)	(658,363)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(171,541)	(317,919)	(387,289)	(658,363)
Outstanding Principal Balance, Charge-offs	(22,818)	(48,427)	(52,438)	(109,212)
Charge-offs, net of recoveries	14,202	34,800	31,513	81,676
Fair Value, Charge-offs	(8,616)	(13,627)	(20,925)	(27,536)
Change in fair value recorded in earnings	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Valuation Adjustment, Gain (Loss) Included in Earnings	24,799	(20,193)	(28,188)	(43,741)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	24,799	(20,193)	(28,188)	(43,741)
Outstanding Principal Balance, Ending	851,476	1,605,257	851,476	1,605,257
Valuation Adjustment, Ending	(66,248)	(92,273)	(66,248)	(92,273)
Fair Value, Ending	785,228	1,512,984	785,228	1,512,984
Loans Held For Sale
Loans
Outstanding Principal Balance, Beginning	0	0	0	0
Valuation Adjustment, Beginning	0	0	0	0
Fair Value, Beginning	0	0	0	0
Outstanding Principal Balance, Purchases	57,760	552,115	522,588	1,115,151
Valuation Adjustment, Purchases	(1,044)	(468)	(2,923)	(468)
Fair Value, Purchases	56,716	551,647	519,665	1,114,683
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	0	0	17,413	0
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	0
Fair Value, Transfers from loans to loans held for sale	0	0	17,413	0
Outstanding Principal Balance, Issuance	0	0	0	0
Valuation Adjustment, Issuances	0	0	0	0
Fair Value, Issuances	0	0	0	0
Outstanding Principal Balance, Sales	(57,760)	(552,115)	(540,001)	(1,115,151)
Valuation Adjustment, Sales	1,224	385	3,463	(780)
Fair Value, Sales	(56,536)	(551,730)	(536,538)	(1,115,931)
Outstanding Principal Balance, Principal payments and retirements	0	0	0	0
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	0	0	0	0
Outstanding Principal Balance, Charge-offs	0	0	0	0
Charge-offs, net of recoveries	0	0	0	0
Fair Value, Charge-offs	0	0	0	0
Change in fair value recorded in earnings	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Valuation Adjustment, Gain (Loss) Included in Earnings	(180)	83	(540)	1,248
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(180)	83	(540)	1,248
Outstanding Principal Balance, Ending	0	0	0	0
Valuation Adjustment, Ending	0	0	0	0
Fair Value, Ending	0	0	0	0
Loans Invested in by Company
Loans
Outstanding Principal Balance, Beginning	919,207	596,105	794,436	873,233
Valuation Adjustment, Beginning	(106,500)	(35,182)	(28,388)	(30,629)
Fair Value, Beginning	812,707	560,923	766,048	842,604
Outstanding Principal Balance, Purchases	23,749	1,189,792	1,403,570	2,033,721
Valuation Adjustment, Purchases	(312)	(615)	(1,005)	(994)
Fair Value, Purchases	23,437	1,189,177	1,402,565	2,032,727
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	101	229	166	452
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	0
Fair Value, Transfers from loans to loans held for sale	101	229	166	452
Outstanding Principal Balance, Sales	(112,527)	(1,249,866)	(1,283,934)	(2,295,746)
Valuation Adjustment, Sales	10,947	40,544	30,856	62,294
Fair Value, Sales	(101,580)	(1,209,322)	(1,253,078)	(2,233,452)
Outstanding Principal Balance, Principal payments and retirements	(79,537)	(64,980)	(155,324)	(133,333)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(79,537)	(64,980)	(155,324)	(133,333)
Outstanding Principal Balance, Charge-offs	(7,572)	(6,943)	(15,493)	(13,990)
Charge-offs, net of recoveries	6,395	6,193	12,308	12,810
Fair Value, Charge-offs	(1,177)	(750)	(3,185)	(1,180)
Change in fair value recorded in earnings	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Valuation Adjustment, Gain (Loss) Included in Earnings	(1,301)	(35,167)	(104,542)	(67,708)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(1,301)	(35,167)	(104,542)	(67,708)
Outstanding Principal Balance, Ending	743,421	464,337	743,421	464,337
Valuation Adjustment, Ending	(90,771)	(24,227)	(90,771)	(24,227)
Fair Value, Ending		440,110		440,110
Loans Invested in by Company | Loans Held for Investment
Loans
Outstanding Principal Balance, Beginning	83,650	11,233	47,042	3,518
Valuation Adjustment, Beginning	(12,647)	(2,476)	(3,349)	(935)
Fair Value, Beginning	71,003	8,757	43,693	2,583
Outstanding Principal Balance, Purchases	386	789	1,113	1,170
Valuation Adjustment, Purchases	(312)	(615)	(1,005)	(994)
Fair Value, Purchases	74	174	108	176
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	137	(3,583)	43,325	4,950
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	(1,471)
Fair Value, Transfers from loans to loans held for sale	137	(3,583)	43,325	3,479
Outstanding Principal Balance, Sales	0	0	0	0
Valuation Adjustment, Sales	0	0	0	0
Fair Value, Sales	0	0	0	0
Outstanding Principal Balance, Principal payments and retirements	(7,949)	(920)	(13,633)	(1,455)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(7,949)	(920)	(13,633)	(1,455)
Outstanding Principal Balance, Charge-offs	(1,065)	(969)	(2,688)	(1,633)
Charge-offs, net of recoveries	377	410	511	847
Fair Value, Charge-offs	(688)	(559)	(2,177)	(786)
Change in fair value recorded in earnings	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Valuation Adjustment, Gain (Loss) Included in Earnings	2,980	1,158	(5,759)	1,030
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	2,980	1,158	(5,759)	1,030
Outstanding Principal Balance, Ending	75,159	6,550	75,159	6,550
Valuation Adjustment, Ending	(9,602)	(1,523)	(9,602)	(1,523)
Fair Value, Ending	65,557	5,027	65,557	5,027
Loans Invested in by Company | Loans Held For Sale
Loans
Outstanding Principal Balance, Beginning	835,557	584,872	747,394	869,715
Valuation Adjustment, Beginning	(93,853)	(32,706)	(25,039)	(29,694)
Fair Value, Beginning	741,704	552,166	722,355	840,021
Outstanding Principal Balance, Purchases	23,363	1,189,003	1,402,457	2,032,551
Valuation Adjustment, Purchases	0	0	0	0
Fair Value, Purchases	23,363	1,189,003	1,402,457	2,032,551
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	(36)	3,812	(43,159)	(4,498)
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	1,471
Fair Value, Transfers from loans to loans held for sale	(36)	3,812	(43,159)	(3,027)
Outstanding Principal Balance, Sales	(112,527)	(1,249,866)	(1,283,934)	(2,295,746)
Valuation Adjustment, Sales	10,947	40,544	30,856	62,294
Fair Value, Sales	(101,580)	(1,209,322)	(1,253,078)	(2,233,452)
Outstanding Principal Balance, Principal payments and retirements	(71,588)	(64,060)	(141,691)	(131,878)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(71,588)	(64,060)	(141,691)	(131,878)
Outstanding Principal Balance, Charge-offs	(6,507)	(5,974)	(12,805)	(12,357)
Charge-offs, net of recoveries	6,018	5,783	11,797	11,963
Fair Value, Charge-offs	(489)	(191)	(1,008)	(394)
Change in fair value recorded in earnings	0	0	0	0
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset Valuation Adjustment, Gain (Loss) Included in Earnings	(4,281)	(36,325)	(98,783)	(68,738)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(4,281)	(36,325)	(98,783)	(68,738)
Outstanding Principal Balance, Ending	668,262	457,787	668,262	457,787
Valuation Adjustment, Ending	(81,169)	(22,704)	(81,169)	(22,704)
Fair Value, Ending	587,093	435,083	587,093	435,083
Notes, Certificates and Secured Borrowings
Notes and Certificates
Outstanding Principal Balance, Beginning	990,662	1,805,078	1,148,888	2,033,258
Valuation Adjustment, Beginning	(103,822)	(101,852)	(67,422)	(127,383)
Fair value at beginning of period	886,840	1,703,226	1,081,466	1,905,875
Outstanding Principal Balance, Purchases	0	0	0	0
Valuation Adjustment, Purchases	0	0	0	0
Fair Value, Purchases	0	0	0	0
Outstanding Principal Balance, Beginning, Transfers	0	0	0	0
Valuation Adjustment, Transfers	0	0	0	0
Fair Value, Transfers	0	0	0	0
Outstanding Principal Balance, Issuances	55,274	166,754	159,894	359,846
Valuation Adjustment, Issuances	0	0	0	0
Fair Value, Issuances	55,274	166,754	159,894	359,846
Outstanding Principal Balance, Sales	0	0	0	0
Valuation Adjustment, Sales	0	0	0	0
Fair Value, Sales	0	0	0	0
Outstanding Principal Balance, Principal payments and retirements	(171,642)	(318,148)	(404,868)	(678,635)
Valuation Adjustment, Principal payments and retirements	0	0	0	14
Fair Value, Principal payments and retirements	(171,642)	(318,148)	(404,868)	(678,621)
Outstanding Principal Balance, Charge-offs	(22,818)	(48,427)	(52,438)	(109,212)
Valuation Adjustment, Charge-offs	13,556	34,789	29,987	81,665
Fair Value, Charge-offs	(9,262)	(13,638)	(22,451)	(27,547)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0	0	0
Valuation Adjustment, Change in fair value recorded in earnings	24,718	(20,243)	(28,113)	(41,602)
Fair Value, Change in fair value recorded in earnings	24,718	(20,243)	(28,113)	(41,602)
Outstanding Principal Balance, Ending	851,476	1,605,257	851,476	1,605,257
Valuation Adjustment, Ending	(65,548)	(87,306)	(65,548)	(87,306)
Fair value at end of period	785,928	1,517,951	785,928	1,517,951
Fair Value, Measurements, Recurring | Loans Invested in by Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans Receivable and Loans Held for Sale, Fair Value Disclosure	$ 652,650	$ 440,110	$ 652,650	$ 440,110	$ 766,048

Fair Value of Assets and Liab_6

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period			$ 89,680
Fair value at end of period	$ 65,515		65,515
Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	92,825	$ 71,848	89,680	$ 64,006
Issuances	1,755	18,700	19,336	34,546
Changes in fair value, included in servicing fees	(25,062)	(12,066)	(34,670)	(23,105)
Other net changes included in deferred revenue	(4,003)	232	(8,831)	3,267
Fair value at end of period	65,515	78,714	65,515	78,714
Asset-backed subordinated securities related to Company-sponsored Structured Program transactions
Servicing Liabilities, Changes in fair value due to:
Fair value at beginning of period	103,511	79,425	110,796	60,279
Additions	2,427	26,434	26,012	54,347
Redemptions	376	0	376	0
Cash received	(17,808)	(10,968)	(34,074)	(18,406)
Change in unrealized gain (loss)	2,131	1,074	(3,125)	908
Accrued interest	2,194	0	3,826	0
Provision for credit loss expense	3,511	0	(7,469)	0
Other-than-temporary impairment	0	(144)	0	(1,307)
Fair value at end of period	$ 95,590	$ 95,821	$ 95,590	$ 95,821

Fair Value of Assets and Liab_7

Fair Value of Assets and Liabilities - Sensitivity of Fair Value of Loans Invested in by the Company, Asset-backed Securities Related to Structured Program Transactions and Servicing Assets (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	$ 221,930	$ 270,927
Servicing assets	65,515	89,680
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	65,515	89,680	$ 92,825	$ 78,714	$ 71,848	$ 64,006
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	95,590	110,796
Servicing assets	65,515	89,680
Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	65,515	89,680
Asset-backed Securities Related to Structured Program Transactions, Senior Securities | Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	94,616	109,339
Discount rates, impact of 100 basis point increase	(871)	(1,050)
Discount rates, impact of 200 basis point increase	(1,716)	(2,076)
Expected credit loss on rates on underlying loans, 10% adverse change	0	0
Expected credit loss on rates on underlying loans, 20% adverse change	0	0
Expected prepayment rates, 10% adverse change	0	0
Expected prepayment rates, 20% adverse change	0	$ 0
Asset-backed Securities Related to Structured Program Transactions, Senior Securities | Level 3 Inputs | Measurement Input, Expected Term | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected weighted-average life (in years)		1 year 1 month 6 days
Asset-backed Securities Related to Structured Program Transactions, Subordinated Securities | Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	18,956	$ 21,090
Discount rates, impact of 100 basis point increase	(262)	(300)
Discount rates, impact of 200 basis point increase	(472)	(513)
Expected credit loss on rates on underlying loans, 10% adverse change	(2,519)	(2,162)
Expected credit loss on rates on underlying loans, 20% adverse change	(4,996)	(4,273)
Expected prepayment rates, 10% adverse change	(907)	(814)
Expected prepayment rates, 20% adverse change	(1,749)	$ (1,495)
Asset-backed Securities Related to Structured Program Transactions, Subordinated Securities | Level 3 Inputs | Measurement Input, Expected Term | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected weighted-average life (in years)		1 year 4 months 24 days
Asset-backed Securities Related to Structured Program Transactions, CLUB Transactions [Member] | Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	76,634	$ 89,706
Discount rates, impact of 100 basis point increase	(685)	(823)
Discount rates, impact of 200 basis point increase	(1,354)	(1,627)
Expected credit loss on rates on underlying loans, 10% adverse change	(2,429)	(2,163)
Expected credit loss on rates on underlying loans, 20% adverse change	(4,858)	(4,311)
Expected prepayment rates, 10% adverse change	(774)	(654)
Expected prepayment rates, 20% adverse change	$ (1,549)	$ (1,279)
Asset-backed Securities Related to Structured Program Transactions, CLUB Transactions [Member] | Level 3 Inputs | Measurement Input, Expected Term | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected weighted-average life (in years)	1 year 3 months 18 days	1 year 1 month 6 days
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements	1 year 3 months 18 days
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements	1 year 9 months 18 days
Loans Invested in by Company | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans and loans held for sale	$ 652,650	$ 766,048		$ 440,110
Discount rates, impact of 100 basis point increase	(7,865)	(9,806)
Discount rates, impact of 200 basis point increase	(15,578)	(19,410)
Expected credit loss rates on underlying loans, 10% adverse change	(10,718)	(9,558)
Expected credit loss rates on underlying loans, 20% adverse change	(21,544)	(19,136)
Expected prepayment rates, 10% adverse change	(2,093)	(2,429)
Expected prepayment rates, 20% adverse change	$ (4,083)	$ (4,740)
Loans Invested in by Company | Measurement Input, Expected Term | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Expected weighted-average life (in years)	1 year 3 months 18 days	1 year 6 months
Loans Invested in by Company | Minimum | Level 3 Inputs | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	4.80%	6.00%
Loans Invested in by Company | Minimum | Level 3 Inputs | Measurement Input, Loss Severity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	6.20%	3.60%
Loans Invested in by Company | Minimum | Level 3 Inputs | Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	26.20%	27.30%
Loans Invested in by Company | Maximum | Level 3 Inputs | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	16.10%	11.50%
Loans Invested in by Company | Maximum | Level 3 Inputs | Measurement Input, Loss Severity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	31.90%	36.60%
Loans Invested in by Company | Maximum | Level 3 Inputs | Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	37.80%	41.00%
Servicing Assets | Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rates, impact of 100 basis point increase	$ (529)	$ (680)
Discount rates, impact of 200 basis point increase	(1,059)	(1,360)
Expected credit loss on rates on underlying loans, 10% adverse change	(353)	(582)
Expected credit loss on rates on underlying loans, 20% adverse change	(706)	(1,165)
Expected prepayment rates, 10% adverse change	(1,652)	(2,962)
Expected prepayment rates, 20% adverse change	$ (3,303)	$ (5,924)
Servicing Assets | Minimum | Level 3 Inputs | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	4.80%	2.90%
Servicing Assets | Minimum | Level 3 Inputs | Measurement Input, Loss Severity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	5.50%	3.70%
Servicing Assets | Minimum | Level 3 Inputs | Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	25.70%	27.50%
Servicing Assets | Maximum | Level 3 Inputs | Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	16.40%	14.80%
Servicing Assets | Maximum | Level 3 Inputs | Measurement Input, Loss Severity
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	31.80%	36.10%
Servicing Assets | Maximum | Level 3 Inputs | Measurement Input, Prepayment Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Measurement input, percent	37.40%	41.80%

Fair Value of Assets and Liab_8

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	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
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 market servicing rate assumptions, servicing assets	0.66%	0.66%
Assets, servicing rate increase by .1%	$ (9,174)	$ (13,978)
Assets, servicing rate decrease by .1%	$ 9,175	$ 13,979

Fair Value of Assets and Liab_9

Fair Value of Assets and Liabilities - Trailing Fee Liability (Details) - Loan Trailing Fee Liability - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 10,372	$ 10,061	$ 11,099	$ 10,010
Issuances	181	1,910	1,966	3,400
Cash payment of Loan Trailing Fee	(1,829)	(1,936)	(3,897)	(3,905)
Change in fair value, included in Origination and Servicing	489	189	45	719
Fair value at end of period	$ 9,213	$ 10,224	$ 9,213	$ 10,224

Fair Value of Assets and Lia_10

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 1,725,323	$ 2,205,970
Total liabilities	992,713	1,133,175
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	126,340	160,131
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,598,983	2,045,839
Total liabilities	992,713	1,133,175
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	338,394	243,779
Restricted cash (1)	134,345	243,343
Servicer reserve receivable	41	73
Deposits	892	953
Total assets	473,672	488,148
Accrued expenses and other liabilities	18,414	24,899
Accounts payable	2,951	10,855
Payables to investors	49,405	97,530
Credit facilities and securities sold under repurchase agreements	480,079	587,453
Total liabilities	550,849	720,737
Portion Not Recorded at Fair Value | Level 1 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash (1)	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
Credit facilities and securities sold under repurchase agreements	0	0
Total liabilities	0	0
Portion Not Recorded at Fair Value | Level 2 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	338,394	243,779
Restricted cash (1)	134,345	243,343
Servicer reserve receivable	41	73
Deposits	892	953
Total assets	473,672	488,148
Accrued expenses and other liabilities	0	0
Accounts payable	2,951	10,855
Payables to investors	49,405	97,530
Credit facilities and securities sold under repurchase agreements	66,378	77,143
Total liabilities	118,734	185,528
Portion Not Recorded at Fair Value | Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Restricted cash (1)	0	0
Servicer reserve receivable	0	0
Deposits	0	0
Total assets	0	0
Accrued expenses and other liabilities	18,414	24,899
Accounts payable	0	0
Payables to investors	0	0
Credit facilities and securities sold under repurchase agreements	413,701	510,310
Total liabilities	432,115	535,209
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	338,394	243,779
Restricted cash (1)	134,345	243,343
Servicer reserve receivable	41	73
Deposits	892	953
Total assets	473,672	488,148
Accrued expenses and other liabilities	18,414	24,899
Accounts payable	2,951	10,855
Payables to investors	49,405	97,530
Credit facilities and securities sold under repurchase agreements	480,079	587,453
Total liabilities	$ 550,849	$ 720,737

Property, Equipment and Softw_3

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Internally developed software	$ 111,245	$ 117,510
Leasehold improvements	36,158	39,315
Computer equipment	26,474	26,669
Purchased software	17,825	11,846
Furniture and fixtures	8,894	9,406
Construction in progress	2,949	4,937
Total property, equipment and software	203,545	209,683
Accumulated depreciation and amortization	(96,848)	(95,313)
Total property, equipment and software, net	106,697	114,370
Construction in Progress
Property, Plant and Equipment [Line Items]
Internally developed software	$ 13,200	$ 21,300

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 29,484	$ 30,156
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 11,600	$ 12,800	23,400	26,100
Internally Developed Software
Property, Plant and Equipment [Line Items]
Impairment expense	4,300	700	4,500	2,300
Leasehold Improvements and Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Impairment expense	$ 1,500	$ 0	$ 1,500	$ 0

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Other Assets [Abstract]
Other assets	[1]	$ 109,702	$ 143,668
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets		65,515	89,680
Accounts receivable
Other Assets [Abstract]
Other assets		14,465	19,017
Prepaid expenses
Other Assets [Abstract]
Other assets		13,315	14,862
Other investments
Other Assets [Abstract]
Other assets		8,275	8,242
Deferred financing costs
Other Assets [Abstract]
Other assets		770	1,484
Other
Other Assets [Abstract]
Other assets		7,362	10,383
Loan Servicing Rights
Other Assets [Abstract]
Principal balance of underlying loan servicing rights		$ 12,400,000	$ 14,100,000
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Intangible Assets - Additional

Intangible Assets - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	$ 12,932,000		$ 12,932,000		$ 14,549,000
Amortization expense	800,000	$ 900,000	1,600,000	$ 1,800,000
Impairment of intangible assets	$ 0	$ 0	$ 0	$ 0

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands		Jun. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Transaction fee refund reserve		$ 18,798	$ 25,541
Contingent liabilities		16,375	16,000
Accrued expenses		15,709	36,797
Accrued compensation		10,334	30,484
Loan trailing fee liability, at fair value		9,213	11,099
Deferred revenue		4,801	13,688
Other		11,139	9,027
Total accrued expenses and other liabilities	[1]	$ 86,369	$ 142,636
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Debt (Details)

Debt (Details) - USD ($)		6 Months Ended
		Jun. 30, 2020	Mar. 31, 2021	Nov. 17, 2020	Nov. 16, 2020	Sep. 01, 2020	Aug. 31, 2020	Aug. 03, 2020	Dec. 31, 2019	Dec. 31, 2015
Debt Instrument [Line Items]
Payable to Structured Program note and certificate holders	[1]	$ 193,034,000							$ 40,610,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		$ 70,000,000							60,000,000
Maximum borrowing capacity										$ 120,000,000
Minimum
Debt Instrument [Line Items]
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements		1 year 3 months 18 days
Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Unused commitment fee (percent)		0.25%
Minimum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		1.75%
Minimum | Revolving Credit Facility | Federal Funds Rate
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		0.50%
Minimum | Revolving Credit Facility | Eurocurrency Rate
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		1.00%
Minimum | Revolving Credit Facility | Adjusted Eurocurrency Rate Plus 1%
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		0.75%
Maximum
Debt Instrument [Line Items]
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements		1 year 9 months 18 days
Maximum | Revolving Credit Facility
Debt Instrument [Line Items]
Unused commitment fee (percent)		0.375%
Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		2.00%
Maximum | Revolving Credit Facility | Adjusted Eurocurrency Rate Plus 1%
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		1.00%
Auto Loan Warehouse Credit Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		$ 9,000,000
Auto Loan Warehouse Credit Facility | Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		34,200,000
Personal Loan and Auto Loan Warehouse Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		294,500,000							387,300,000
Restricted cash		$ 22,500,000							25,100,000
Personal Loan and Auto Loan Warehouse Credit Facilities | Minimum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		1.75%
Personal Loan and Auto Loan Warehouse Credit Facilities | Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		2.10%
Personal Loan Warehouse Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		$ 285,500,000
Maximum borrowing capacity		$ 500,000,000
Personal Loan Warehouse Credit Facilities | Minimum | Revolving Credit Facility
Debt Instrument [Line Items]
Unused commitment fee (percent)		0.375%
Personal Loan Warehouse Credit Facilities | Maximum | Revolving Credit Facility
Debt Instrument [Line Items]
Unused commitment fee (percent)		0.875%
Personal Loan Warehouse Credit Facility with Commitment Maturity Date of June 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 250,000,000
Personal Loan Warehouse Credit Facilities with Associated Commitment Termination Date of February 2022 | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		$ 185,000,000
Personal Loan Warehouse Credit Facilities with Associated Commitment Termination Date of October 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Credit facility, loan aging limit		210 days
Credit facility, reduction in advance rate after loan aging limit is met (percent)		50.00%
Line of credit, current		$ 100,500,000
Payables to Securitization Holders
Debt Instrument [Line Items]
Restricted cash		$ 13,700,000							2,900,000
Securities Sold under Agreements to Repurchase | Minimum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		0.65%
Securities Sold under Agreements to Repurchase | Maximum | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Borrowings interest rate spread (percent)		2.50%
Loans Held For Sale | Personal Loan and Auto Loan Warehouse Credit Facilities
Debt Instrument [Line Items]
Loans pledged as collateral		$ 357,700,000							551,500,000
Loans Held for Investment and Loans Held for Sale | Payables to Securitization Holders
Debt Instrument [Line Items]
Loans pledged as collateral									40,300,000
Credit Facilities and Securities Sold under Repurchase Agreements
Debt Instrument [Line Items]
Aggregate debt outstanding under repurchase transactions		115,600,000							140,200,000
Credit Facilities and Securities Sold under Repurchase Agreements | Contractual Repurchase Dates Ranging from May 2020 to December 2026
Debt Instrument [Line Items]
Aggregate debt outstanding under repurchase transactions		49,700,000
Credit Facilities and Securities Sold under Repurchase Agreements | Contractual Repurchase Date in May 2020
Debt Instrument [Line Items]
Aggregate debt outstanding under repurchase transactions		65,900,000
Personal Whole Loan Securitization
Debt Instrument [Line Items]
Principal derecognized from loans securitized or sold		244,400,000
Assets Sold under Repurchase Agreements
Debt Instrument [Line Items]
Underlying assets pledged as collateral		155,500,000							174,800,000
Third-party Investor | Personal Whole Loan Securitization
Debt Instrument [Line Items]
Transfer of Financial Assets Accounted for as Sales, Cash Proceeds Received for Assets Derecognized, Amount		228,700,000
Consolidated VIEs | Loans Related to Consolidation of Securitization Trust | Loans Held for Investment | Payables to Securitization Holders
Debt Instrument [Line Items]
Loans pledged as collateral		189,600,000
Consolidated VIEs | Loans Related to Consolidation of Securitization Trust | Payable to Securitization Note and Certificate Holders at Fair Value | Loans Held for Investment
Debt Instrument [Line Items]
Payable to Structured Program note and certificate holders		$ 193,000,000							$ 40,600,000
Forecast | Personal Loan Warehouse Credit Facilities with Associated Commitment Termination Date of December 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity					$ 50,000,000		$ 100,000,000
Credit facility, maximum advance rate against borrowing base, step down (percent)			50.00%		5.00%		5.00%
Additional step down if outstanding advance rate is greater than target advance rate or outstanding loan amount exceeds outstanding commitment (percent)				5.00%		5.00%
Interest rate increase if outstanding advance rate is greater than target advance rate or outstanding loan amount exceeds outstanding commitment (percent)				0.75%		0.75%
Subsequent Event | Personal Loan Warehouse Credit Facilities with Associated Commitment Termination Date of December 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 250,000,000
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($) $ / shares in Units, $ in Thousands	Mar. 20, 2020	Feb. 29, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, authorized (shares)			10,000,000	10,000,000
Preferred stock, par value ($ per share)			$ 0.01	$ 0.01
Permissible transfer, maximum receipt of any class of voting securities (percent)			2.00%	2.00%
Permissible transfer, maximum control of transferee of Company voting securities, prior to transfer (percent)			50.00%	50.00%
One-time cash payment	$ 50,200	$ 50,200
Shareholder Protection Agreement threshold of equity interest in the Company triggering dilution (percent)				25.00%
Shareholder Protection Agreement threshold of ownership in any class of the Company's voting securities triggering dilution (percent)				10.00%
Shareholder Protection Agreement, maximum term of agreement				18 months
Shareholder Protection Agreement percent of Series B Preferred Stock included in a Unit (percent)				0.10%
Series B Preferred stock unit ($ per unit)				$ 48
Retirement of treasury stock				$ 19,600
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (shares)		1,200,000	1,200,000	1,200,000		1,200,000
Preferred stock, par value ($ per share)			$ 0.01	$ 0.01		$ 0.01
Preferred stock, outstanding (shares)			195,627	195,627		0
Convertible preferred stock, issued upon conversion (shares)			100	100
Ownership maximum per holder after conversion of preferred shares (percent)			9.90%	9.90%
Preferred stock liquidation preference ($ per share)			$ 0.01	$ 0.01
Preferred stock, issued (shares)			195,627	195,627		0
Conversion of stock, shares issued		195,628
Share price ($ per share)			$ 4,800	$ 4,800
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (shares)		600,000
Preferred stock, outstanding (shares)			0	0
Preferred stock liquidation preference ($ per share)			$ 0.001	$ 0.001
Preferred stock, issued (shares)			0	0
Minimum preferential quarterly dividend ($ per share)				$ 0.001
Common Stock
Class of Stock [Line Items]
Conversion of stock, shares of common stock converted and retired		19,562,881
Deemed dividend				$ 50,204	$ 0
Retirement of treasury stock (in shares)				467,049
Retirement of treasury stock				$ 4
Preferred Stock
Class of Stock [Line Items]
Deemed dividend		$ (50,200)	$ 0	$ (50,204)

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		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 14,204	$ 20,551	$ 32,333	$ 38,803
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	731	1,540	2,394	3,111
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	722	846	1,358	1,770
Engineering and product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	2,668	5,475	7,283	10,706
Other general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,083	12,690	21,298	23,216
RSUs and PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	13,975	19,859	31,681	37,044
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	229	560	652	1,275
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 132	$ 0	$ 484

Employee Incentive Plans - Addi

Employee Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 14,204	$ 20,551	$ 32,333	$ 38,803
Internally Developed Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount	1,300	1,700	$ 2,900	3,600
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			10,047,445
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested1			$ 96,100
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	159,200		$ 159,200
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			3 years 1 month 6 days
PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	1,000		$ 1,000
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			1 year 2 months 12 days
PBRSU performance period			1 year
Stock-based compensation expense	300	1,600	$ 1,100	2,500
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 132	$ 0	$ 484
Minimum | PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share target range (percent)	0.00%
Maximum | PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance share target range (percent)	200.00%
One-half of Grant Vesting in Two Years Following Completion of Performance Period [Member] | PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
PBRSU vesting period			2 years

Employee Incentive Plans - RSU

Employee Incentive Plans - RSU and PBRSU Activity and Weighted Average Grant Date Fair Value table (Details)	6 Months Ended
	Jun. 30, 2020$ / sharesshares
PBRSUs
Number of Shares (shares)
Unvested, beginning (shares) | shares	471,589
Vested (shares) | shares	(102,905)
Forfeited/expired (shares) | shares	(203,400)
Unvested, ending (shares) | shares	165,284
Weighted- Average Grant Date Fair Value ($ per share)
Unvested, beginning ($ per share) | $ / shares	$ 16.94
Vested ($ per share) | $ / shares	18.06
Forfeited/expired ($ per share) | $ / shares	16.70
Unvested, ending ($ per share) | $ / shares	$ 16.24
RSUs
Number of Shares (shares)
Unvested, beginning (shares) | shares	9,597,404
Granted (shares) | shares	10,047,445
Vested (shares) | shares	(2,048,657)
Forfeited/expired (shares) | shares	(3,917,787)
Unvested, ending (shares) | shares	13,678,405
Weighted- Average Grant Date Fair Value ($ per share)
Unvested, beginning ($ per share) | $ / shares	$ 16.78
Granted ($ per share) | $ / shares	9.56
Vested ($ per share) | $ / shares	16.95
Forfeited/expired ($ per share) | $ / shares	13.86
Unvested, ending ($ per share) | $ / shares	$ 12.29

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ 0	$ (438)	$ 319	$ (438)

Leases (Details)

Leases (Details) $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)lease_termination_option	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)	Jun. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Variable lease costs		$ 0.3	$ 0.5	$ 0.7	$ 0.8
Lease renewal term	15 years	15 years		15 years
Notice required for termination of lease				6 months
Security deposit	$ 0.8	$ 0.8		$ 0.8
Letters of credit outstanding, amount	$ 5.5	5.5		5.5
Number of operating lease termination options exercised | lease_termination_option	1
Reduction in operating lease liability	$ 6.1
Decrease In operating lease asset	$ 5.3
Operating lease impairment		$ 2.7	$ 0	$ 2.7	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lease term	1 year	1 year		1 year
Sublease term				1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term	9 years	9 years		9 years
Sublease term				2 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease assets	$ 79,407	$ 93,485
Operating lease liabilities	$ 100,911	$ 112,344

Leases - Net Lease Costs (Detai

Leases - Net Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Lessee, Lease, Description [Line Items]
Net lease costs	$ (3,036)	$ (3,963)	$ (6,122)	$ (8,148)
Variable lease costs	300	500	700	800
Other general and administrative
Lessee, Lease, Description [Line Items]
Operating lease costs	(4,573)	(4,979)	(9,193)	(10,171)
Other revenue
Lessee, Lease, Description [Line Items]
Sublease revenue	$ 1,537	$ 1,016	$ 3,071	$ 2,023

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Leases [Abstract]
Leased assets obtained in exchange for new and amended operating lease liabilities	$ 84	$ 0	$ 84	$ 15,277

Leases - Future Operating Lease

Leases - Future Operating Lease Payments and Sublease Revenue (Details) - USD ($) $ in Thousands	Jun. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Remainder of 2020	$ 8,826
2021	19,271
2022	14,134
2023	10,761
2024	11,072
Thereafter	68,383
Total lease payments (1)	132,447
Discount effect	31,536
Present value of future minimum lease payments	100,911	$ 112,344
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2020	(3,560)
2021	(6,767)
2022	(2,918)
2023	0
2024	0
Thereafter	0
Total lease payments (1)	(13,245)
Operating Lease Payments, Net [Abstract]
Remainder of 2020	5,266
2021	12,504
2022	11,216
2023	10,761
2024	11,072
Thereafter	68,383
Total lease payments (1)	$ 119,202
Lease term of operating lease not yet commenced	8 years 3 months
Undiscounted future rent of operating lease not yet commenced	$ 8,600

Leases - Weighted-average Lease

Leases - Weighted-average Lease Term and Discount Rate (Details)	Jun. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (in years)	9 years 2 months 23 days
Weighted-average discount rate (percent)	5.75%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 18, 2020	Jul. 31, 2020	Jun. 30, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Commitments and Contingencies [Line Items]
Loan purchase obligation period				2 days
Contingent loan purchase commitment limit			$ 3,200	$ 3,200		$ 91,300
Commitment repurchases			275	1,900	$ 3,100
Deposit			9,000	9,000		9,000
Loan purchase obligation				21,500
Fair value			45,600	45,600		45,700
Contingent liabilities			16,375	16,375		$ 16,000
Subsequent Event
Commitments and Contingencies [Line Items]
Commitment repurchases		$ 4
Radius Bancorp, Inc. Merger
Commitments and Contingencies [Line Items]
Value of cash and stock transaction	$ 185,000
Contingent purchase price and expense adjustments	$ 22,000
Acquisition-related Agreements
Commitments and Contingencies [Line Items]
Contingent purchase price and expense adjustments			$ 3,000	$ 3,000

Restructuring Costs - Additiona

Restructuring Costs - Additional Information (Details) - USD ($) $ in Thousands	Apr. 21, 2020	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 17,036
2020 Restructuring Plan
Restructuring Cost and Reserve [Line Items]
Percent of total workforce included in workforce reduction (percent)	30.00%
2020 Restructuring Plan | Compensation Costs
Restructuring Cost and Reserve [Line Items]
Restructuring costs		8,600		$ 8,600
Restructuring costs paid		7,200
2020 Restructuring Plan | Lease Expenses and Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring costs		4,200		4,200
2020 Restructuring Plan | Impairment of Internally Developed Software
Restructuring Cost and Reserve [Line Items]
Restructuring costs		4,200		4,200
2020 Restructuring Plan | Operating Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs		17,000	$ 0	17,000	$ 0
2020 Restructuring Plan | Accrued Expenses and Other Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		$ 1,400		$ 1,400

Restructuring Costs (Details)

Restructuring Costs (Details) $ in Thousands	3 Months Ended
	Jun. 30, 2020USD ($)
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 17,036
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	1,379
Origination and servicing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	906
Engineering and product development
Restructuring Cost and Reserve [Line Items]
Restructuring costs	7,472
Other general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 7,279

Segment Reporting (Details)

Segment Reporting (Details)	6 Months Ended
	Jun. 30, 2020customersegment
Segment Reporting Information [Line Items]
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 ($) $ / shares in Units, $ in Thousands	Mar. 20, 2020	Feb. 29, 2020	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Common stock, par value ($ per share)	$ 0.01		$ 0.01		$ 0.01
One-time cash payment	$ 50,200	$ 50,200
Related Party Fund | Affiliated Entity
Related Party Transaction [Line Items]
Expense			$ 108	$ 540
Related Party Fund | Investor fees - Funds and SMAs | Affiliated Entity
Related Party Transaction [Line Items]
Income			27	51
Related Party Fund
Related Party Transaction [Line Items]
Loans			0	$ 77
Other Assets
Related Party Transaction [Line Items]
Equity method investment			$ 7,800
Ownership (percent)			23.00%
Common Stock
Related Party Transaction [Line Items]
Conversion of stock, shares converted		19,562,881
Common Stock | Largest Stockholder
Related Party Transaction [Line Items]
Conversion of stock, shares converted	19,562,881
Series A Preferred Stock | Largest Stockholder
Related Party Transaction [Line Items]
Conversion of stock, shares issued	195,628