LendingClub (LC) 10-Q 5 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Oct. 30, 2020
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 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		91,501,794
Entity Central Index Key	0001409970
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Document Transition Report	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents		$ 445,180	$ 243,779
Restricted cash	[1]	98,787	243,343
Securities available for sale (includes $205,997 and $271,173 at amortized cost, $17,542 and $0 in allowance for credit losses, and $127,376 and $174,849 pledged as collateral at fair value, respectively)		187,375	270,927
Loans held for investment at fair value	[1]	708,274	1,079,315
Loans held for investment by the Company at fair value	[1]	59,099	43,693
Loans held for sale by the Company at fair value	[1]	180,801	722,355
Accrued interest receivable	[1]	6,865	12,857
Property, equipment and software, net		101,045	114,370
Operating lease assets		76,226	93,485
Intangible assets, net		12,180	14,549
Other assets	[1]	103,625	143,668
Total assets		1,979,457	2,982,341
Liabilities and Equity
Accounts payable		3,382	10,855
Accrued interest payable	[1]	5,829	9,260
Operating lease liabilities		98,204	112,344
Accrued expenses and other liabilities	[1]	100,916	142,636
Payable to investors		35,068	97,530
Notes, certificates and secured borrowings at fair value	[1]	708,597	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	173,410	40,610
Credit facilities and securities sold under repurchase agreements	[1]	120,159	587,453
Total liabilities		1,245,565	2,082,154
Equity
Series A Preferred stock, $0.01 par value; 1,200,000 shares authorized; 149,904 and 0 shares issued, respectively; 149,904 and 0 shares outstanding, respectively		1	0
Common stock, $0.01 par value; 180,000,000 shares authorized; 76,511,394 and 89,218,797 shares issued, respectively; 76,511,394 and 88,757,406 shares outstanding, respectively		765	892
Additional paid-in capital		1,493,839	1,467,882
Accumulated deficit		(759,559)	(548,472)
Treasury stock, at cost; 0 and 461,391 shares, respectively		0	(19,550)
Accumulated other comprehensive loss		(1,154)	(565)
Total equity		733,892	900,187
Total liabilities and equity		$ 1,979,457	$ 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		Sep. 30, 2020	Dec. 31, 2019
Restricted cash	[1]	$ 98,787	$ 243,343
Loans held for investment at fair value	[1]	708,274	1,079,315
Loans held for investment by the Company at fair value	[1]	59,099	43,693
Loans held for sale by the Company at fair value	[1]	180,801	722,355
Accrued interest receivable	[1]	6,865	12,857
Other assets	[1]	103,625	143,668
Accrued interest payable	[1]	5,829	9,260
Accrued expenses and other liabilities	[1]	100,916	142,636
Notes, certificates and secured borrowings at fair value	[1]	708,597	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	173,410	40,610
Credit facilities and securities sold under repurchase agreements	[1]	120,159	587,453
Total liabilities of consolidated variable interest entities		1,245,565	2,082,154
Securities available for sale, allowance for credit losses		17,542	0
Securities available for sale, pledged as collateral at fair value		127,376	174,849
Securities available for sale at amortized cost		$ 205,997	$ 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		76,511,394	89,218,797
Common stock, shares outstanding		76,511,394	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)		149,904	0
Preferred stock, outstanding (shares)		149,904	0
Consolidated VIEs
Restricted cash		$ 18,113	$ 30,046
Loans held for investment at fair value		74,487	197,842
Loans held for investment by the Company at fair value		57,756	40,251
Loans held for sale by the Company at fair value		138,557	551,455
Accrued interest receivable		1,768	4,431
Other assets		161	1,359
Total assets of consolidated variable interest entities		290,842	825,384
Accrued interest payable		1,008	3,185
Accrued expenses and other liabilities		181	244
Notes, certificates and secured borrowings at fair value		74,487	197,842
Payable to Structured Program note and certificate holders at fair value		173,410	40,610
Credit facilities and securities sold under repurchase agreements		18,500	387,251
Total liabilities of consolidated variable interest entities		$ 267,586	$ 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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Net interest income and fair value adjustments:
Interest income		$ 46,773	$ 77,820	$ 176,744	$ 270,554
Interest expense		(32,440)	(55,060)	(114,447)	(197,336)
Net fair value adjustments		(696)	(31,628)	(108,812)	(102,331)
Net interest income and fair value adjustments		13,637	(8,868)	(46,515)	(29,113)
Gain on sales of loans		7,739	18,305	23,724	47,343
Net Investor Revenue		47,226	39,708	64,133	112,504
Other revenue		3,115	3,983	10,166	8,808
Total net revenue		74,713	204,896	238,788	570,121
Operating expenses:
Sales and marketing		7,201	76,255	65,708	212,201
Origination and servicing		15,595	27,996	54,419	81,200
Engineering and product development		31,984	41,455	109,861	127,300
Other general and administrative		54,332	59,485	169,438	180,685
Total operating expenses		109,112	205,191	399,426	601,386
Loss before income tax expense		(34,399)	(295)	(160,638)	(31,265)
Income tax expense (benefit)		(74)	97	245	(341)
Consolidated net loss		(34,325)	(392)	(160,883)	(30,924)
Less: Income (Loss) attributable to noncontrolling interests		0	(9)	0	55
LendingClub net loss		(34,325)	(383)	(160,883)	(30,979)
Transaction fees
Net revenue, fees		24,372	161,205	164,489	448,809
Investor fees
Net revenue, fees		$ 25,850	$ 30,271	86,924	94,274
Common Stock
Operating expenses:
LendingClub net loss				$ (129,968)	$ (30,979)
Net income (loss) per share – Basic and Diluted ($ per share)	[1]	$ (0.38)	$ 0	$ (2.35)	$ (0.36)
Weighted-average common shares - Basic and Diluted (shares)	[1]	73,566,385	87,588,495	76,781,157	86,849,388
Preferred Stock
Operating expenses:
LendingClub net loss				$ (30,915)
Net income (loss) per share – Basic and Diluted ($ per share)	[1]	$ (0.38)	$ 0	$ 1.46	$ 0
Weighted-average common shares - Basic and Diluted (shares)	[1]	17,335,485	0	13,174,545	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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Statement of Comprehensive Income [Abstract]
LendingClub net loss	$ (34,325)	$ (383)	$ (160,883)	$ (30,979)
Other comprehensive income (loss), before tax:
Net unrealized gain (loss) on securities available for sale	6,502	(823)	(834)	788
Other comprehensive income (loss), before tax	6,502	(823)	(834)	788
Income tax effect	74	(130)	(245)	308
Other comprehensive income (loss), net of tax	6,428	(693)	(589)	480
Less: Other comprehensive loss attributable to noncontrolling interests	0	(39)	0	(22)
LendingClub other comprehensive income (loss), net of tax	6,428	(654)	(589)	502
LendingClub comprehensive loss	(27,897)	(1,037)	(161,472)	(30,477)
Comprehensive loss attributable to noncontrolling interests	0	(39)	0	(22)
Total comprehensive loss	$ (27,897)	$ (1,076)	$ (161,472)	$ (30,499)

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		61,878			61,878				61,878
Net issuances under equity incentive plans, net of tax (in shares)	[1]			2,040,492		3,894
Net issuances under equity incentive plans, net of tax	[1]	(15,127)		$ 20	(15,094)	$ (53)			(15,127)
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		482					502		502	(20)
Dividends paid and return of capital to noncontrolling interests		(1,815)								(1,815)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(30,924)						(30,979)	(30,979)	55
Ending balance (in shares) at Sep. 30, 2019			0	88,132,589		460,434
Ending balance at Sep. 30, 2019		887,887	$ 0	$ 886	1,454,586	$ (19,538)	659	(548,706)	887,887	0
Beginning balance (in shares) at Jun. 30, 2019			0	87,160,013		456,540
Beginning balance at Jun. 30, 2019		874,321	$ 0	$ 876	1,439,244	$ (19,485)	1,313	(548,323)	873,625	696
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock-based compensation		19,491			19,491				19,491
Net issuances under equity incentive plans, net of tax (in shares)	[1]			972,576		3,894
Net issuances under equity incentive plans, net of tax	[1]	(4,192)		$ 10	(4,149)	$ (53)			(4,192)
Net unrealized gain (loss) on securities available for sale, net of tax		(691)					(654)		(654)	(37)
Dividends paid and return of capital to noncontrolling interests		(650)								(650)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(392)						(383)	(383)	(9)
Ending balance (in shares) at Sep. 30, 2019			0	88,132,589		460,434
Ending balance at Sep. 30, 2019		887,887	$ 0	$ 886	1,454,586	$ (19,538)	659	(548,706)	887,887	0
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		51,492			51,492				51,492
Net issuances under equity incentive plans, net of tax (in shares)	[2]			2,744,469		5,658
Net issuances under equity incentive plans, net of tax	[2]	(6,111)		$ 27	(6,067)	$ (71)			(6,111)
Issuance of preferred stock in exchange for common stock (in shares)	[3]		149,904	(14,990,481)
Issuance of preferred stock in exchange for common stock	[3]	(50,204)	$ 1	$ (150)	149			(50,204)	(50,204)
Retirement of treasury stock				$ (4)	(19,617)	$ 19,621
Retirement of treasury stock (in shares)						(467,049)
Net unrealized gain (loss) on securities available for sale, net of tax		(589)					(589)		(589)	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(160,883)						(160,883)	(160,883)	0
Ending balance (in shares) at Sep. 30, 2020			149,904	76,511,394		0
Ending balance at Sep. 30, 2020		733,892	$ 1	$ 765	1,493,839	$ 0	(1,154)	(759,559)	733,892	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Payment of deemed dividend due to beneficial conversion feature		50,200
Beginning balance (in shares) at Jun. 30, 2020			195,627	70,938,835		0
Beginning 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]
Stock-based compensation		16,281			16,281				16,281
Net issuances under equity incentive plans, net of tax (in shares)	[2]			1,000,259
Net issuances under equity incentive plans, net of tax	[2]	(634)		$ 10	(644)				(634)
Issuance of preferred stock in exchange for common stock (in shares)			(45,723)	4,572,300
Issuance of preferred stock in exchange for common stock		0	$ (1)	$ 46	(45)				0
Net unrealized gain (loss) on securities available for sale, net of tax		6,428					6,428		6,428
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest		(34,325)						(34,325)	(34,325)
Ending balance (in shares) at Sep. 30, 2020			149,904	76,511,394		0
Ending balance at Sep. 30, 2020		$ 733,892	$ 1	$ 765	$ 1,493,839	$ 0	$ (1,154)	$ (759,559)	$ 733,892	$ 0
[1]	Includes shares purchased by the Company in lieu of issuing fractional shares in connection with a 1-for-5 reverse stock split effective July 5, 2019 and 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 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.
[3]	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		9 Months Ended
		Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Consolidated net loss		$ (160,883)	$ (30,924)
Adjustments to reconcile consolidated net loss to net cash provided by (used for) operating activities:
Net fair value adjustments		108,812	102,331
Change in fair value of loan servicing assets and liabilities		48,040	39,882
Stock-based compensation, net		47,455	56,898
Depreciation and amortization		41,832	44,034
Gain on sales of loans		(23,724)	(47,343)
Other, net		9,582	14,649
Purchase of loans held for sale		(2,192,059)	(5,282,100)
Principal payments received on loans held for sale		204,561	193,850
Proceeds from whole loan sales and Structured Program transactions, net of underwriting fees and costs		2,363,280	4,795,151
Net change in operating assets and liabilities:
Accrued interest receivable, net		(5,278)	(9,536)
Other assets		42,769	12,167
Accounts payable		(7,363)	6,998
Accrued interest payable		(3,431)	(8,654)
Accrued expenses and other liabilities		(42,847)	(12,134)
Change in payable to investors	[1]	(65,789)	(35,957)
Net cash provided by (used for) operating activities		364,957	(160,688)
Cash Flows from Investing Activities:
Purchases of loans		(237,403)	(522,564)
Principal payments received on loans		550,448	950,607
Proceeds from recoveries and sales of charged-off loans		33,795	42,239
Purchases of securities available for sale		(53,536)	(116,753)
Proceeds from sales, maturities, redemptions and paydowns of securities available for sale		79,986	110,884
Proceeds from paydowns of asset-backed securities related to Structured Program transactions		101,584	64,056
Other investing activities		300	194
Purchases of property, equipment and software, net		(24,583)	(38,977)
Net cash provided by investing activities		450,591	489,686
Cash Flows from Financing Activities:
Proceeds from issuance of notes and certificates		237,283	522,249
Repayments of secured borrowings		(14,997)	(47,930)
Principal payments on and retirements of notes and certificates		(532,534)	(916,983)
Payments on notes, certificates, and secured borrowings from recoveries/sales of related charged-off loans		(33,310)	(42,634)
Principal payments on securitization notes		(51,635)	(56,707)
Proceeds from issuance of notes and certificates from Structured Program transactions		186,190	0
Proceeds from credit facilities and securities sold under repurchase agreements		1,105,051	1,851,738
Principal payments on credit facilities and securities sold under repurchase agreements		(1,572,569)	(1,801,600)
Payment for debt issuance costs		(264)	(1,356)
Deemed dividend paid to preferred stockholder		(50,204)	0
Other financing activities		(31,714)	(4,747)
Net cash used for financing activities		(758,703)	(497,970)
Net Increase (Decrease) in Cash, Cash Equivalents and Restricted Cash		56,845	(168,972)
Cash, Cash Equivalents and Restricted Cash, Beginning of Period		487,122	644,058
Cash, Cash Equivalents and Restricted Cash, End of Period		543,967	475,086
Supplemental Cash Flow Information:
Cash paid for interest		115,639	206,332
Cash paid for operating leases included in the measurement of lease liabilities		12,086	12,568
Non-cash investing activity:
Net securities retained from Structured Program transactions		43,458	136,053
Accruals for property, equipment and software		1,260	3,299
Non-cash investing and financing activity:
Transfer of whole loans to redeem certificates		17,414	122,330
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	$ 200,881
[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		Sep. 30, 2020	Dec. 31, 2019	Sep. 30, 2019	Dec. 31, 2018
Statement of Cash Flows [Abstract]
Cash and cash equivalents		$ 445,180	$ 243,779
Restricted cash	[1]	98,787	243,343
Total cash, cash equivalents and restricted cash		$ 543,967	$ 487,122	$ 475,086	$ 644,058
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 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 facilitated education and patient finance loans originated by third-party issuing banks. All assets of Springstone have been transferred to LendingClub and Springstone is expected to be dissolved. 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	9 Months Ended
	Sep. 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 nine month period ended September 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 nine month period ended September 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 for fiscal periods beginning after December 15, 2020 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. In August 2020, the FASB issued ASU 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity including convertible instruments and contracts on an entity’s own equity. The guidance allows for either full or modified retrospective adoption for fiscal periods beginning after December 15, 2021 with early adoption permitted for fiscal periods beginning after December 15, 2020. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures.

Revenue from Contracts with Cus

Revenue from Contracts with Customers	9 Months Ended
	Sep. 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended 2020 2019 Transaction fees $ 24,372 $ 161,205 Referral fees 1,264 1,596 Total revenue from contracts with customers $ 25,636 $ 162,801 Nine Months Ended 2020 2019 Transaction fees $ 164,489 $ 448,809 Referral fees 3,503 3,619 Total revenue from contracts with customers $ 167,992 $ 452,428 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 third quarters and first nine months 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 September 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 third quarters and first nine months 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	9 Months Ended
	Sep. 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 September 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Net loss attributable to stockholders $ (27,779 ) $ (6,546 ) $ (383 ) Weighted-average common shares – Basic and Diluted (2) 73,566,385 17,335,485 87,588,495 Net loss per share attributable to stockholders – Basic and Diluted (2) $ (0.38 ) $ (0.38 ) $ 0.00 Nine Months Ended September 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Allocation of undistributed LendingClub net loss $ (129,968 ) $ (30,915 ) $ (30,979 ) Deemed dividend (50,204 ) 50,204 — Net income (loss) attributable to stockholders $ (180,172 ) $ 19,289 $ (30,979 ) Weighted-average common shares – Basic and Diluted (2) 76,781,157 13,174,545 86,849,388 Net income (loss) per share attributable to stockholders – Basic and Diluted (2) $ (2.35 ) $ 1.46 $ (0.36 ) (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 Nine Months Ended 2020 2019 2020 2019 Preferred stock 17,335,485 — 13,174,545 — Stock options 160,382 484,032 228,066 489,657 RSUs and PBRSUs 761,077 229,456 184,832 176,131 Total 18,256,944 713,488 13,587,443 665,788

Securities Available for Sale

Securities Available for Sale	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 , were as follows: September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Asset-backed senior securities (1)(2) $ 84,589 $ 20 $ (590 ) $ — $ 84,019 CLUB Certificate asset-backed securities (1) 71,487 288 (1,569 ) (4,500 ) 65,706 Asset-backed subordinated securities (1) 30,289 1,126 (377 ) (13,042 ) 17,996 Commercial paper 6,999 — — — 6,999 Corporate debt securities 6,637 14 — — 6,651 Other asset-backed securities 3,796 8 — — 3,804 Certificates of deposit 2,200 — — — 2,200 Total securities available for sale $ 205,997 $ 1,456 $ (2,536 ) $ (17,542 ) $ 187,375 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 September 30, 2020 and December 31, 2019 , $151.4 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 September 30, 2020 , and December 31, 2019 , includes $127.4 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 September 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 September 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Asset-backed securities related to Structured Program transactions $ 78,556 $ (2,394 ) $ 4,178 $ (142 ) $ 82,734 $ (2,536 ) Corporate debt securities 1,301 — — — 1,301 — Other asset-backed securities 204 — — — 204 — Total securities with unrealized losses (1) $ 80,061 $ (2,394 ) $ 4,178 $ (142 ) $ 84,239 $ (2,536 ) 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 September 30, 2020 and December 31, 2019 totaled 94 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 third quarter and first nine months of 2020 , the Company recognized $(3.7) million and $3.8 million in credit recovery and loss expense, respectively. During the third quarter and first nine months of 2019 , the Company recognized $1.2 million and $2.5 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 third quarter and first nine months 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 third quarter and first nine months of 2020 : Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 ) Provision for credit loss expense 2,087 1,582 3,669 Allowance arising from PCD financial assets — (5,640 ) (5,640 ) Ending balance as of September 30, 2020 $ (4,500 ) $ (13,042 ) $ (17,542 ) 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 (546 ) (3,254 ) (3,800 ) Allowance arising from PCD financial assets (3,954 ) (9,788 ) (13,742 ) Ending balance as of September 30, 2020 $ (4,500 ) $ (13,042 ) $ (17,542 ) Securities available for sale purchased with credit deterioration during the third quarter and first nine months of 2020 were as follows: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Purchase price of PCD securities at acquisition $ 446 $ 25,915 Allowance for credit losses on PCD securities at acquisition 5,640 13,742 Par value of acquired PCD securities at acquisition $ 6,086 $ 39,657 The contractual maturities of securities available for sale at September 30, 2020 , were as follows: Amortized Cost Fair Value Within 1 year: Commercial paper $ 6,999 $ 6,999 Corporate debt securities 6,637 6,651 Certificates of deposit 2,200 2,200 Other asset-backed securities 1,930 1,930 Total 17,766 17,780 After 1 year through 5 years: Other asset-backed securities 1,866 1,874 Total 1,866 1,874 Asset-backed securities related to Structured Program transactions 186,365 167,721 Total securities available for sale $ 205,997 $ 187,375 During the third quarter and first nine months of 2020 , the Company and Consumer Loan Underlying Bond Depositor LLC (Depositor), a subsidiary of the Company, sold a combined $0.2 billion and $1.3 billion , respectively, in asset-backed securities related to Structured Program transactions. During the third quarter and first nine months of 2019 , the Company and Consumer Loan Underlying Bond Depositor LLC (Depositor), a subsidiary of the Company, sold a combined $1.2 billion and $3.2 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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Proceeds $ — $ 4,019 $ 2,396 $ 10,419 Gross realized gains $ — $ 8 $ 3 $ 8 Gross realized losses $ — $ — $ (4 ) $ —

Loans Held For Investment, Loan

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings	9 Months Ended
	Sep. 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 September 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 September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 756,570 $ 1,148,888 $ 756,570 $ 1,148,888 Net fair value adjustments (48,296 ) (69,573 ) (47,973 ) (67,422 ) Fair value $ 708,274 $ 1,079,315 $ 708,597 $ 1,081,466 At September 30, 2020 and December 31, 2019 , a fair value of $2.8 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: September 30, December 31, Notes $ 631,169 $ 863,488 Certificates 74,487 197,842 Secured borrowings 2,941 20,136 Total notes, certificates and secured borrowings $ 708,597 $ 1,081,466 Loans Invested in by the Company At September 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 $170.0 million and $40.3 million in loans at fair value in consolidated trusts as of September 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 September 30, December 31, September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 66,232 $ 47,042 $ 202,749 $ 747,394 $ 268,981 $ 794,436 Net fair value adjustments (7,133 ) (3,349 ) (21,948 ) (25,039 ) (29,081 ) (28,388 ) Fair value $ 59,099 $ 43,693 $ 180,801 $ 722,355 $ 239,900 $ 766,048 The net fair value adjustments of $(29.1) million and $(28.4) million represent net unrealized losses recorded in earnings on loans invested in by the Company at September 30, 2020 and December 31, 2019 , respectively. Total fair value adjustments recorded in earnings on loans invested in by the Company of $4.3 million and $(100.3) million during the third quarter and first nine months of 2020 , respectively, and $(32.4) million and $(100.1) million during the third quarter and first nine months 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 third quarter and first nine months of 2020 was $12.4 million and $54.3 million , respectively. Net interest income earned on loans invested in by the Company during the third quarter and first nine months of 2019 was $17.7 million and $59.3 million , respectively. The Company used its own capital to purchase $28.0 million loans and sold $442.7 million in loans during the third quarter of 2020 which were all sold to whole loan investors. The fair value of loans invested in by the Company was $239.9 million at September 30, 2020 which included $170.0 million related to Structured Program transactions that were consolidated and a related payable to Structured Program note and certificate holders at fair value of $173.4 million as of September 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 third quarters and first nine months of 2020 and 2019 . At September 30, 2020 and December 31, 2019 , loans with a fair value of $26.3 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: September 30, December 31, Loans held for investment: Outstanding principal balance $ 4,140 $ 10,755 Net fair value adjustments (3,432 ) (9,663 ) Fair value $ 708 $ 1,092 Number of loans (not in thousands) 788 1,428 Loans invested in by the Company: Outstanding principal balance $ 2,116 $ 2,315 Net fair value adjustments (1,808 ) (2,016 ) Fair value $ 308 $ 299 Number of loans (not in thousands) 180 338

Securitizations and Variable In

Securitizations and Variable Interest Entities	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 . Additionally, the assets and liabilities in the table below exclude intercompany balances that eliminate in consolidation: September 30, 2020 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 18,113 $ — $ 18,113 Securities available for sale at fair value — 167,721 167,721 Loans held for investment at fair value 74,487 — 74,487 Loans held for investment by the Company at fair value 57,756 — 57,756 Loans held for sale by the Company at fair value 138,557 — 138,557 Accrued interest receivable 1,768 92 1,860 Other assets 161 38,403 38,564 Total assets $ 290,842 $ 206,216 $ 497,058 Liabilities Accrued interest payable $ 1,008 $ — $ 1,008 Accrued expenses and other liabilities 181 — 181 Notes, certificates and secured borrowings at fair value 74,487 — 74,487 Payable to Structured Program note and certificate holders at fair value 173,410 — 173,410 Credit facilities and securities sold under repurchase agreements 18,500 — 18,500 Total liabilities 267,586 — 267,586 Total net assets $ 23,256 $ 206,216 $ 229,472 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Assets Liabilities Net Assets LC Trust $ 77,496 $ (75,166 ) $ 2,330 Consolidated trusts 184,341 (173,726 ) 10,615 Warehouse credit facilities 29,005 (18,694 ) 10,311 Total consolidated VIEs $ 290,842 $ (267,586 ) $ 23,256 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 September 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. The Company has requested a full redemption of our investment in the Investment Fund. At September 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,502,665 $ 67,415 $ 51 $ 11,774 $ 79,240 Certificate Program 2,315,354 100,306 41 18,854 119,201 Investment Fund 34,376 — — 7,775 7,775 Total unconsolidated VIEs $ 3,852,395 $ 167,721 $ 92 $ 38,403 $ 206,216 September 30, 2020 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 67,415 $ 51 $ 11,774 $ 79,240 Certificate Program 100,306 41 18,854 119,201 Investment Fund — — 7,775 7,775 Total unconsolidated VIEs $ 167,721 $ 92 $ 38,403 $ 206,216 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended September 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold (1) $ — $ 233,852 $ 328,173 $ 772,734 Net gains (losses) recognized from loans securitized or sold $ — $ 1,563 $ 360 $ 9,174 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (2) $ — $ — $ 15,464 $ 37,803 Cash proceeds from loans securitized or sold $ — $ — $ 298,099 $ 659,755 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 4,176 $ 6,697 $ 4,545 $ 4,802 Cash proceeds for interest received on senior securities and subordinated securities $ 983 $ 1,847 $ 1,283 $ 2,045 (1) Includes non-cash purchase and sale of loans requested by investors to facilitate a Structured Program transaction during the third quarter of 2020. (2) For Structured Program transactions, the Company retained asset-backed senior securities of $21.8 million , CLUB Certificate asset-backed securities of $27.1 million , and asset-backed subordinated securities of $4.3 million for the third quarter of 2019 . Nine Months Ended September 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold (1) $ 255,203 $ 871,489 $ 1,180,048 $ 1,797,174 Net gains (losses) recognized from loans securitized or sold $ (20 ) $ 7,159 $ 4,114 $ 20,641 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (2) $ 12,707 $ 31,423 $ 57,379 $ 88,371 Cash proceeds from loans securitized or sold $ 237,764 $ 598,515 $ 864,949 $ 1,629,967 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 14,118 $ 20,919 $ 12,324 $ 11,396 Cash proceeds for interest received on senior securities and subordinated securities $ 3,792 $ 6,740 $ 3,917 $ 5,280 (1) Includes non-cash purchase and sale of loans requested by investors to facilitate a Structured Program transaction during the third quarter of 2020. (2) For Structured Program transactions, the Company retained asset-backed senior securities of $23.0 million and $60.0 million , CLUB Certificate asset-backed securities of $18.3 million and $77.7 million , and asset-backed subordinated securities of $2.9 million and $8.1 million for the first nine months 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 September 30, 2020 , the aggregate unpaid principal balance of the off-balance sheet loans pursuant to Structured Program transactions was $3.8 billion , of which $102.7 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	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans held for investment $ — $ — $ 708,274 $ 708,274 Loans held for investment by the Company — — 59,099 59,099 Loans held for sale by the Company — — 180,801 180,801 Securities available for sale: Asset-backed senior securities and subordinated securities — 84,020 17,995 102,015 CLUB Certificate asset-backed securities — — 65,706 65,706 Commercial paper — 6,999 — 6,999 Corporate debt securities — 6,651 — 6,651 Other asset-backed securities — 3,804 — 3,804 Certificates of deposit — 2,200 — 2,200 Total securities available for sale — 103,674 83,701 187,375 Servicing assets — — 59,538 59,538 Total assets $ — $ 103,674 $ 1,091,413 $ 1,195,087 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 708,597 $ 708,597 Payable to Structured Program note and certificate holders — — 173,410 173,410 Deferred revenue — — 4,154 4,154 Loan trailing fee liability — — 8,258 8,258 Total liabilities $ — $ — $ 894,419 $ 894,419 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 third quarter and first nine months 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. Due to changes in the availability of market observable inputs, the Company transferred $517 thousand of asset-backed securities related to Structured Program transactions out of Level 3 during the first nine months of 2020 . The Company did no t transfer any other assets or liabilities in or out of Level 3 during the first nine months of 2020 or year ended December 31, 2019 . Fair valuation adjustments are recorded through earnings related to Level 3 instruments for the third quarters and first nine months 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 September 30, 2020 and December 31, 2019 : Loans Held for Investment, Notes, Certificates and Secured Borrowings September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Average Minimum Maximum Weighted- Average Discount rates 7.7 % 15.1 % 9.6 % 6.0 % 12.0 % 7.9 % Net cumulative expected loss rates (1) 4.3 % 28.0 % 11.7 % 3.6 % 34.9 % 11.9 % Cumulative expected prepayment rates (1) 27.6 % 35.6 % 30.7 % 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 September 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 third quarters and first nine months 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 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Purchases 77,389 — 77,389 492,440 (24,533 ) 467,907 — — — Transfers (to) from loans held for investment and/or loans held for sale (324 ) — (324 ) — — — — — — Issuances — — — — — — 77,389 — 77,389 Sales — — — (492,440 ) 29,902 (462,538 ) — — — Principal payments and retirements (159,753 ) — (159,753 ) — — — (160,077 ) — (160,077 ) Charge-offs, net of recoveries (12,218 ) 2,049 (10,169 ) — — — (12,218 ) 1,358 (10,860 ) Change in fair value recorded in earnings — 15,903 15,903 — (5,369 ) (5,369 ) — 16,217 16,217 Balance at $ 756,570 $ (48,296 ) $ 708,274 $ — $ — $ — $ 756,570 $ (47,973 ) $ 708,597 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 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951 Purchases 162,402 — 162,402 697,833 (9,080 ) 688,753 — — — Transfers (to) from loans held for investment and/or loans held for sale (122,515 ) — (122,515 ) 122,330 — 122,330 — — — Issuances — — — — — — 162,402 — 162,402 Sales — — — (820,163 ) 8,814 (811,349 ) — — — Principal payments and retirements (286,106 ) — (286,106 ) — — — (408,621 ) — (408,621 ) Charge-offs, net of recoveries (42,433 ) 29,029 (13,404 ) — — — (42,433 ) 27,347 (15,086 ) Change in fair value recorded in earnings — (15,882 ) (15,882 ) — 266 266 — (15,688 ) (15,688 ) Balance at $ 1,316,605 $ (79,126 ) $ 1,237,479 $ — $ — $ — $ 1,316,605 $ (75,647 ) $ 1,240,958 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 $ 1,148,888 $ (69,573 ) $ 1,079,315 $ — $ — $ — $ 1,148,888 $ (67,422 ) $ 1,081,466 Purchases 237,283 — 237,283 1,015,028 (27,456 ) 987,572 — — — Transfers (to) from loans held for investment and/or loans held for sale (17,903 ) — (17,903 ) 17,413 — 17,413 — — — Issuances — — — — — — 237,283 — 237,283 Sales — — — (1,032,441 ) 33,365 (999,076 ) — — — Principal payments and retirements (547,042 ) — (547,042 ) — — — (564,945 ) — (564,945 ) Charge-offs, net of recoveries (64,656 ) 33,562 (31,094 ) — — — (64,656 ) 31,345 (33,311 ) Change in fair value recorded in earnings — (12,285 ) (12,285 ) — (5,909 ) (5,909 ) — (11,896 ) (11,896 ) Balance at $ 756,570 $ (48,296 ) $ 708,274 $ — $ — $ — $ 756,570 $ (47,973 ) $ 708,597 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 $ 2,013,438 $ (130,187 ) $ 1,883,251 $ — $ — $ — $ 2,033,258 $ (127,383 ) $ 1,905,875 Purchases 522,248 (21 ) 522,227 1,812,984 (9,548 ) 1,803,436 — — — Transfers (to) from loans held for investment and/or loans held for sale (122,967 ) — (122,967 ) 122,330 — 122,330 — — — Issuances — — — — — — 522,248 — 522,248 Sales — — — (1,935,314 ) 8,034 (1,927,280 ) — — — Principal payments and retirements (944,469 ) — (944,469 ) — — — (1,087,256 ) 14 (1,087,242 ) Charge-offs, net of recoveries (151,645 ) 110,705 (40,940 ) — — — (151,645 ) 109,012 (42,633 ) Change in fair value recorded in earnings — (59,623 ) (59,623 ) — 1,514 1,514 — (57,290 ) (57,290 ) Balance at $ 1,316,605 $ (79,126 ) $ 1,237,479 $ — $ — $ — $ 1,316,605 $ (75,647 ) $ 1,240,958 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 September 30, 2020 and December 31, 2019 : Loans Invested in by the Company September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 9.7 % 13.3 % 10.0 % 6.0 % 11.5 % 7.8 % Net cumulative expected loss rates (1) 5.0 % 27.0 % 10.3 % 3.6 % 36.6 % 10.9 % Cumulative expected prepayment rates (1) 27.6 % 39.7 % 30.8 % 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 September 30, 2020 and December 31, 2019 , are as follows: September 30, December 31, Fair value of loans invested in by the Company $ 239,900 $ 766,048 Expected weighted-average life (in years) 1.2 1.5 Discount rates 100 basis point increase $ (2,564 ) $ (9,806 ) 200 basis point increase $ (5,083 ) $ (19,410 ) Expected credit loss rates on underlying loans 10% adverse change $ (2,938 ) $ (9,558 ) 20% adverse change $ (5,937 ) $ (19,136 ) Expected prepayment rates 10% adverse change $ (694 ) $ (2,429 ) 20% adverse change $ (1,401 ) $ (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 third quarters and first nine months 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 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Purchases 201 (189 ) 12 27,756 (6 ) 27,750 27,957 (195 ) 27,762 Transfers (to) from loans held for investment and/or loans held for sale (155 ) — (155 ) 479 — 479 324 — 324 Sales — — — (442,744 ) 51,220 (391,524 ) (442,744 ) 51,220 (391,524 ) Principal payments and retirements (8,205 ) — (8,205 ) (44,439 ) — (44,439 ) (52,644 ) — (52,644 ) Charge-offs, net of recoveries (768 ) 245 (523 ) (6,565 ) 6,148 (417 ) (7,333 ) 6,393 (940 ) Change in fair value recorded in earnings — 2,413 2,413 — 1,859 1,859 — 4,272 4,272 Balance at $ 66,232 $ (7,133 ) $ 59,099 $ 202,749 $ (21,948 ) $ 180,801 $ 268,981 $ (29,081 ) $ 239,900 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 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110 Purchases 791 (632 ) 159 1,531,916 — 1,531,916 1,532,707 (632 ) 1,532,075 Transfers (to) from loans held for investment and/or loans held for sale 304 — 304 (119 ) — (119 ) 185 — 185 Sales — — — (1,181,739 ) 24,093 (1,157,646 ) (1,181,739 ) 24,093 (1,157,646 ) Principal payments and retirements (840 ) — (840 ) (65,814 ) — (65,814 ) (66,654 ) — (66,654 ) Charge-offs, net of recoveries (1,209 ) 697 (512 ) (6,680 ) 5,922 (758 ) (7,889 ) 6,619 (1,270 ) Change in fair value recorded in earnings — 73 73 — (32,492 ) (32,492 ) — (32,419 ) (32,419 ) Balance at $ 5,596 $ (1,385 ) $ 4,211 $ 735,351 $ (25,181 ) $ 710,170 $ 740,947 $ (26,566 ) $ 714,381 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 1,314 (1,194 ) 120 1,430,213 (6 ) 1,430,207 1,431,527 (1,200 ) 1,430,327 Transfers (to) from loans held for investment and/or loans held for sale 43,170 — 43,170 (42,680 ) — (42,680 ) 490 — 490 Sales — — — (1,726,678 ) 82,076 (1,644,602 ) (1,726,678 ) 82,076 (1,644,602 ) Principal payments and retirements (21,838 ) — (21,838 ) (186,130 ) (186,130 ) (207,968 ) — (207,968 ) Charge-offs, net of recoveries (3,456 ) 756 (2,700 ) (19,370 ) 17,945 (1,425 ) (22,826 ) 18,701 (4,125 ) Change in fair value recorded in earnings — (3,346 ) (3,346 ) — (96,924 ) (96,924 ) — (100,270 ) (100,270 ) Balance at $ 66,232 $ (7,133 ) $ 59,099 $ 202,749 $ (21,948 ) $ 180,801 $ 268,981 $ (29,081 ) $ 239,900 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 1,961 (1,626 ) 335 3,564,467 — 3,564,467 3,566,428 (1,626 ) 3,564,802 Transfers (to) from loans held for investment and/or loans held for sale 5,254 (1,471 ) 3,783 (4,617 ) 1,471 (3,146 ) 637 — 637 Sales — — — (3,477,485 ) 86,387 (3,391,098 ) (3,477,485 ) 86,387 (3,391,098 ) Principal payments and retirements (2,295 ) — (2,295 ) (197,692 ) — (197,692 ) (199,987 ) — (199,987 ) Charge-offs, net of recoveries (2,842 ) 1,544 (1,298 ) (19,037 ) 17,885 (1,152 ) (21,879 ) 19,429 (2,450 ) Change in fair value recorded in earnings — 1,103 1,103 — (101,230 ) (101,230 ) — (100,127 ) (100,127 ) Balance at $ 5,596 $ (1,385 ) $ 4,211 $ 735,351 $ (25,181 ) $ 710,170 $ 740,947 $ (26,566 ) $ 714,381 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 September 30, 2020 and December 31, 2019 : Asset-Backed Securities Related to Structured Program Transactions September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 2.2 % 24.4 % 8.4 % 3.4 % 20.7 % 8.8 % Net cumulative expected loss rates (1) 5.3 % 29.8 % 18.6 % 4.5 % 37.9 % 19.2 % Cumulative expected prepayment rates (1) 6.3 % 31.0 % 25.3 % 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 84,019 $ 17,996 $ 65,706 Expected weighted-average life (in years) 0.9 1.5 1.0 Discount rates 100 basis point increase $ (729 ) $ (179 ) $ (550 ) 200 basis point increase $ (1,437 ) $ (385 ) $ (1,088 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (1,958 ) $ (2,004 ) 20% adverse change $ — $ (3,968 ) $ (4,035 ) Expected prepayment rates 10% adverse change $ — $ (776 ) $ (792 ) 20% adverse change $ — $ (1,612 ) $ (1,597 ) 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 95,590 $ 95,821 $ 110,796 $ 60,279 Additions 446 31,597 26,458 85,944 Redemptions (426 ) (8,861 ) (802 ) (8,861 ) Transfers (517 ) — (517 ) — Cash received (20,297 ) (13,385 ) (54,371 ) (31,791 ) Change in unrealized gain (loss) 3,413 (768 ) 288 140 Accrued interest 1,823 — 5,649 — Provision for credit loss expense 3,669 — (3,800 ) — Other-than-temporary impairment — (1,175 ) — (2,482 ) Fair value at end of period $ 83,701 $ 103,229 $ 83,701 $ 103,229 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 September 30, 2020 and December 31, 2019 : Servicing Assets September 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) 4.5 % 27.2 % 12.8 % 3.7 % 36.1 % 12.4 % Cumulative expected prepayment rates (1) 27.5 % 35.2 % 31.3 % 27.5 % 41.8 % 32.5 % Total market servicing rates (% per annum on outstanding principal balance) (2) 0.62 % 0.62 % 0.62 % 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 September 30, 2020 and December 31, 2019 : Servicing Assets September 30, December 31, 2019 Weighted-average market servicing rate assumptions 0.62 % 0.66 % Change in fair value from: Servicing rate increase by 0.10% $ (7,993 ) $ (13,978 ) Servicing rate decrease by 0.10% $ 7,994 $ 13,979 The following table presents the fair value sensitivity of servicing assets to adverse changes in key assumptions as of September 30, 2020 and December 31, 2019 : Servicing Assets September 30, December 31, 2019 Fair value of Servicing Assets $ 59,538 $ 89,680 Discount rates 100 basis point increase $ (481 ) $ (680 ) 200 basis point increase $ (962 ) $ (1,360 ) Expected loss rates 10% adverse change $ (285 ) $ (582 ) 20% adverse change $ (570 ) $ (1,165 ) Expected prepayment rates 10% adverse change $ (2,246 ) $ (2,962 ) 20% adverse change $ (4,492 ) $ (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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 65,515 $ 78,714 $ 89,680 $ 64,006 Issuances (1) 7,783 21,042 27,119 55,588 Change in fair value, included in investor fees (13,376 ) (16,849 ) (48,046 ) (39,954 ) Other net changes included in deferred revenue (384 ) 343 (9,215 ) 3,610 Fair value at end of period $ 59,538 $ 83,250 $ 59,538 $ 83,250 (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 September 30, 2020 and December 31, 2019 : Loan Trailing Fee Liability September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.6 % 2.9 % 14.8 % 9.3 % Net cumulative expected loss rates (1) 4.6 % 27.2 % 14.8 % 3.7 % 36.0 % 14.4 % Cumulative expected prepayment rates (1) 27.5 % 38.9 % 31.7 % 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 9,213 $ 10,224 $ 11,099 $ 10,010 Issuances 356 2,152 2,322 5,552 Cash payment of Loan Trailing Fee (1,829 ) (2,015 ) (5,726 ) (5,920 ) Change in fair value, included in Origination and Servicing 518 222 563 941 Fair value at end of period $ 8,258 $ 10,583 $ 8,258 $ 10,583 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 445,180 $ — $ 445,180 $ — $ 445,180 Restricted cash (1) 98,787 — 98,787 — 98,787 Servicer reserve receivable 30 — 30 — 30 Deposits 892 — 892 — 892 Total assets $ 544,889 $ — $ 544,889 $ — $ 544,889 Liabilities: Accrued expenses and other liabilities $ 15,552 $ — $ — $ 15,552 $ 15,552 Accounts payable 3,382 — 3,382 — 3,382 Payables to investors 35,068 — 35,068 — 35,068 Credit facilities and securities sold under repurchase agreements 120,159 — 54,954 65,205 120,159 Total liabilities $ 174,161 $ — $ 93,404 $ 80,757 $ 174,161 (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	9 Months Ended
	Sep. 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: September 30, December 31, Internally developed software (1) $ 116,378 $ 117,510 Leasehold improvements 35,053 39,315 Computer equipment 27,034 26,669 Purchased software 17,926 11,846 Furniture and fixtures 8,203 9,406 Construction in progress 3,084 4,937 Total property, equipment and software 207,678 209,683 Accumulated depreciation and amortization (106,633 ) (95,313 ) Total property, equipment and software, net $ 101,045 $ 114,370 (1) Includes $14.5 million and $21.3 million of development in progress as of September 30, 2020 and December 31, 2019 , respectively. Depreciation and amortization expense on property, equipment and software was $11.4 million and $34.8 million for the third quarter and first nine months of 2020 , respectively. Depreciation and amortization expense on property, equipment and software was $12.8 million and $38.8 million for the third quarter and first nine months of 2019 , respectively. The Company recorded impairment expense on its leasehold improvements and furniture and fixtures of $ 0.4 million and $1.9 million for the third quarter and first nine months of 2020 , respectively. There was no impairment expense for the Company’s leasehold improvements and furniture and fixtures in the third quarter and first nine months of 2019 . The Company recorded impairment expense on its internally developed software of $0.2 million and $4.7 million for the third quarter and first nine months of 2020 , respectively. The Company recorded impairment expense on its internally developed software of $0.2 million and $2.5 million for the third quarter and first nine months 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	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other Assets Other assets consist of the following: September 30, December 31, Loan servicing assets, at fair value (1) $ 59,538 $ 89,680 Accounts receivable 11,359 19,017 Prepaid expenses 11,893 14,862 Other investments 8,275 8,242 Deferred financing costs 87 1,484 Other 12,473 10,383 Total other assets $ 103,625 $ 143,668 (1) As of September 30, 2020 and December 31, 2019 , loans underlying loan servicing rights had a total outstanding principal balance of $11.2 billion and $14.1 billion , respectively.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	Intangible Assets Intangible assets, net of accumulated amortization, was $12.2 million and $14.5 million at September 30, 2020 and December 31, 2019 , respectively. Amortization expense associated with intangible assets for the third quarter and first nine months of 2020 was $0.8 million and $2.4 million , respectively. Amortization expense associated with intangible assets for the third quarter and first nine months of 2019 was $0.8 million and $2.7 million , respectively. There was no impairment loss for the third quarters and first nine months of 2020 and 2019 .

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	9 Months Ended
	Sep. 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: September 30, December 31, Transaction fee refund reserve $ 16,207 $ 25,541 Contingent liabilities (1) 22,342 16,000 Accrued expenses 12,873 36,797 Accrued compensation 22,629 30,484 Loan trailing fee liability, at fair value 8,258 11,099 Deferred revenue 4,313 13,688 Other 14,294 9,027 Total accrued expenses and other liabilities $ 100,916 $ 142,636 (1) See “ Note 18. Commitments and Contingencies ” for further information.

Debt

Debt	9 Months Ended
	Sep. 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 Facility or 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 September 30, 2020 , the Company had two Warehouse Facilities used to finance personal loans. One Warehouse Facility has a borrowing capacity of $100.0 million on a revolving basis and has a “Commitment Termination Date” of December 2020 , at which point the Company’s ability to borrow new funds under the respective facility ends. A contractual interest rate increase with respect to borrowed amounts outstanding that is expected to occur on the Commitment Termination Date has been deferred until March 31, 2021. The borrowing capacity under this facility steps down to $50.0 million on November 16, 2020, and the maximum advance rate against the borrowing base steps down to 50% at March 31, 2021 (with a further 50% reduction for loans that have been in the Warehouse Facility for more than 210 days ). At December 31, 2020, if not terminated, amended, extended, or replaced, any outstanding debt would be repaid as an amortizing term loan (based on principal repayments of the financed personal loans) until the facility’s maturity date of December 2021 . As of September 30, 2020 , the Company had an outstanding balance of $18.5 million borrowed from this Warehouse Facility. The Company fully paid the outstanding balance in October 2020. The second Warehouse Facility with a borrowing capacity of $250.0 million and a Commitment Termination Date in October 2020 was fully paid as of September 30, 2020 , was subsequently terminated and will not be renewed. A previously existing Warehouse Facility to finance auto refinance loans with a contractual maturity in June 2021 was fully paid as of September 30, 2020 and was terminated. 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 Warehouse 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 Warehouse Facilities contain certain covenants. As of September 30, 2020 , the Company was in material compliance with all applicable covenants under the respective credit agreements. As of September 30, 2020 and December 31, 2019 , the Company had $18.5 million and $387.3 million in aggregate debt outstanding under the Warehouse Facilities, with collateral consisting of loans at fair value of $26.3 million and $551.5 million included in “Loans held for sale by the Company at fair value,” respectively, and restricted cash of $2.2 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 September 30, 2020 , the Company was in material compliance with all applicable covenants in the credit and guaranty agreement. The Company had no debt outstanding under the Revolving Facility as of September 30, 2020 and $60.0 million in debt outstanding as of December 31, 2019 . Repurchase Agreements The Company has 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. In certain cases, the Company is subject to margin calls based on the fair value of the securities to be repurchased. As of September 30, 2020 and December 31, 2019 , the Company had $101.7 million and $140.2 million in aggregate debt outstanding under its repurchase agreements, respectively, of which, at September 30, 2020 , $39.0 million had contractual repurchase dates ranging from October 2020 to March 2028 and $62.7 million is subject to a repurchase date in October 2020 , which was subsequently replaced with a new repurchase facility having a repurchase date in September 2022 and no margin call provisions. 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 0.9 to 1.5 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 September 30, 2020 and December 31, 2019 , the Company had $127.4 million and $174.8 million , respectively, of underlying assets sold under repurchase agreements. Payable to Structured Program Note and Certificate Holders The Company consolidates certain 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 September 30, 2020 and December 31, 2019 , the certificate participations and securities held by third-party investors of $173.4 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 $170.0 million and $40.3 million and restricted cash of $13.5 million and $2.9 million included in the Condensed Consolidated Balance Sheets , respectively.

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 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 September 30, 2020 , there were 149,904 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 nine months 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	9 Months Ended
	Sep. 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 Nine Months Ended 2020 2019 2020 2019 RSUs and PBRSUs $ 14,986 $ 17,543 $ 46,667 $ 54,587 Stock options 136 552 788 1,827 ESPP — — — 484 Total stock-based compensation expense $ 15,122 $ 18,095 $ 47,455 $ 56,898 The following table presents the Company’s stock-based compensation expense recorded in the Condensed Consolidated Statements of Operations : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Sales and marketing $ 880 $ 1,505 $ 3,274 $ 4,616 Origination and servicing 721 852 2,079 2,622 Engineering and product development 3,295 4,737 10,578 15,443 Other general and administrative 10,226 11,001 31,524 34,217 Total stock-based compensation expense $ 15,122 $ 18,095 $ 47,455 $ 56,898 The Company capitalized $1.2 million and $4.0 million of stock-based compensation expense associated with developing software for internal use during the third quarter and first nine months of 2020 , respectively. The Company capitalized $1.4 million and $5.0 million of stock-based compensation expense associated with developing software for internal use during the third quarter and first nine months of 2019 , respectively. Restricted Stock Units The following table summarizes the activities for the Company’s RSUs during the first nine months of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 9,597,404 $ 16.78 Granted 10,622,273 $ 9.34 Vested (3,121,385 ) $ 16.18 Forfeited/expired (4,758,401 ) $ 13.71 Unvested at September 30, 2020 12,339,891 $ 11.72 During the first nine months of 2020 , the Company granted 10,622,273 RSUs with an aggregate fair value of $99.3 million . As of September 30, 2020 , there was $136.1 million of unrecognized compensation cost related to unvested RSUs, which is expected to be recognized over the next 2.9 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 nine months of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 471,589 $ 16.94 Granted 1,424,438 $ 4.67 Vested (142,940 ) $ 17.59 Forfeited/expired (1) (272,760 ) $ 13.85 Unvested at September 30, 2020 1,480,327 $ 5.60 (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 third quarter and first nine months of 2020 , the Company recognized $0.7 million and $1.8 million in stock-based compensation expense related to PBRSUs, respectively. For the third quarter and first nine months of 2019 , the Company recognized $1.0 million and $3.5 million in stock-based compensation expense related to PBRSUs, respectively. As of September 30, 2020 , there was $6.3 million of unrecognized compensation cost related to unvested PBRSUs, which is expected to be recognized over the next 2.4 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	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes For the third quarter and first nine months of 2020 , the Company recorded an income tax benefit of $74 thousand and an income tax expense of $245 thousand , respectively. This is primarily attributable to the tax effects of other comprehensive income associated with the Company’s available for sale portfolio. For the third quarter and first nine months of 2019 , the Company recorded an income tax expense of $97 thousand and an income tax benefit of $341 thousand , respectively. This is primarily attributable to the tax effects of other comprehensive income associated with the Company’s available for sale portfolio. 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	9 Months Ended
	Sep. 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 September 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 . 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 September 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 third quarter and first nine months of 2020, the Company recognized impairment expense of $0.9 million and $3.6 million , net, respectively, 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 third quarter and first nine months of 2019. Balance sheet information as of September 30, 2020 related to leases was as follows: ROU Assets and Lease Liabilities September 30, 2020 Operating lease assets $ 76,226 Operating lease liabilities (1) $ 98,204 (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 third quarters and first nine months of 2020 and 2019 were as follows: Three Months Ended Nine Months Ended Net Lease Costs Income Statement Classification 2020 2019 2020 2019 Operating lease costs (1) Other general and administrative expense $ (4,140 ) $ (4,617 ) $ (13,333 ) $ (14,788 ) Sublease revenue Other revenue 1,538 1,175 4,609 3,198 Net lease costs $ (2,602 ) $ (3,442 ) $ (8,724 ) $ (11,590 ) (1) Includes variable lease costs of $0.4 million and $0.4 million for the third quarters of 2020 and 2019 , respectively. Includes variable lease costs of $1.1 million and $1.2 million for the first nine months of 2020 and 2019 , respectively. Supplemental cash flow information related to the Company’s operating leases for the third quarters of 2020 and 2019 was as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Non-cash operating activity: Leased assets obtained in exchange for new and amended operating lease liabilities (1) $ — $ — $ 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 September 30, 2020 were as follows: Operating Lease Payments Sublease Revenue Net Remainder of 2020 $ 4,696 $ (1,965 ) $ 2,731 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) $ 128,317 $ (11,650 ) $ 116,667 Discount effect 30,113 Present value of future minimum lease payments $ 98,204 (1) As of September 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 September 30, 2020 Weighted-average remaining lease term (in years) 9.09 Weighted-average discount rate 5.76 %

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 , the Company was committed to purchase loans with an outstanding principal balance of $8.5 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 $2.8 million and $4.2 million in loans or interests therein during the first nine months 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 $414 thousand of such loans during the third quarter of 2020 . During the month of October 2020, none of these loans were required to be purchased by the Company. In addition, if neither the Company nor Springstone can arrange for other investors to invest in or purchase loans that the Company or 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 September 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 nine months of 2020 , the Company was required to purchase $28.9 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 $4.5 million and $45.7 million as of September 30, 2020 and December 31, 2019 , respectively. The Company believes it will be required to purchase certain loans facilitated by the Company during the remainder of 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 September 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. 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. 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. On August 20, 2020, the Court issued an order granting the Company’s motion to stay proceedings in the case until the U.S. Supreme Court issues its decision in the Credit Bureau Center and AMG Capital Management cases. As a result of this order, the trial that was scheduled for October 19, 2020 will need to be rescheduled at a later date following the Supreme Court’s ruling. 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. The lead plaintiffs have appealed the judgment to the U.S. Court of Appeals for the Ninth Circuit. The timing of a ruling in the appeal is uncertain. 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 parties have reached a tentative settlement to resolve this litigation the terms of which are not material to the Company’s financial position or results of operations. The Company denies and will vigorously defend against the allegations in the case in the event this litigation continues for any reason. 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. On August 11, 2020, pursuant to a stipulation by the parties to the case, the Court issued an order approving the voluntary dismissal of the Baron and Cheekatamarla actions without prejudice. As a result, these actions are no longer pending. 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. However, given the settlement in cases between the Colorado Administrator of the Uniform Consumer Credit Code and the Colorado Attorney General and each of Avant, Inc. and Marlette Funding, the Company is taking steps to ensure that its operations in Colorado conform to the 36% APR safe harbor set forth in the settlement. 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. In September 2020, LendingClub filed an answer to plaintiff’s complaint denying liability in the case. 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. A hearing before the Court is scheduled for November 18, 2020, where it is expected that the Court will consider the settlement. Certain Financial Considerations Relating to Litigation and Investigations With respect to the matters discussed above, the Company had $22.3 million and $16.0 million in accrued contingent liabilities at September 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	9 Months Ended
	Sep. 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 third quarter the Company recorded $0.8 million in restructuring costs within operating expenses, which was comprised of $(0.5) million in compensation costs related to changes in estimates from the second quarter of 2020, $1.3 million in related non-cash lease expenses and impairment, and no impairment of internally developed software. During the first nine months of 2020, the Company recorded $17.8 million in restructuring costs within operating expenses. which was comprised of $8.0 million in compensation costs, $5.6 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 third quarter and first nine months of 2019. Of the $8.0 million in compensation costs expensed, $7.9 million was paid out during the second and third quarters of 2020, resulting in a restructuring liability of $0.1 million , included in “Accrued expenses and other liabilities” on the Condensed Consolidated Balance Sheet, as of September 30, 2020 . The following table presents the restructuring costs for the third quarter and first nine months of 2020 recorded in the Company’s Condensed Consolidated Statements of Operations: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Sales and marketing $ (108 ) $ 1,271 Origination and servicing (113 ) 793 Engineering and product development (227 ) 7,245 Other general and administrative 1,201 8,480 Total $ 753 $ 17,789

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 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	9 Months Ended
	Sep. 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 September 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 has requested a full redemption of our investment in the Investment Fund. The Company’s investment in the Investment Fund is recorded in “Other assets” on the Company’s Condensed Consolidated Balance Sheets . During the first nine months 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 nine months of 2020 . During the first nine months of 2020 and 2019 , the Company earned $52 thousand and $74 thousand in investor fees from this family of funds, and paid interest of $140 thousand and $684 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	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events The Company has evaluated the impact of events that have occurred subsequent to September 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)	9 Months Ended
	Sep. 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 nine month period ended September 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 for fiscal periods beginning after December 15, 2020 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. In August 2020, the FASB issued ASU 2020-06, Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity, which simplifies the accounting for certain financial instruments with characteristics of liabilities and equity including convertible instruments and contracts on an entity’s own equity. The guidance allows for either full or modified retrospective adoption for fiscal periods beginning after December 15, 2021 with early adoption permitted for fiscal periods beginning after December 15, 2020. The Company is evaluating the impact this ASU will have on its financial position, results of operations, cash flows, and disclosures.

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	9 Months Ended
	Sep. 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended 2020 2019 Transaction fees $ 24,372 $ 161,205 Referral fees 1,264 1,596 Total revenue from contracts with customers $ 25,636 $ 162,801 Nine Months Ended 2020 2019 Transaction fees $ 164,489 $ 448,809 Referral fees 3,503 3,619 Total revenue from contracts with customers $ 167,992 $ 452,428

Net Income (Loss) Per Share (Ta

Net Income (Loss) Per Share (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Net loss attributable to stockholders $ (27,779 ) $ (6,546 ) $ (383 ) Weighted-average common shares – Basic and Diluted (2) 73,566,385 17,335,485 87,588,495 Net loss per share attributable to stockholders – Basic and Diluted (2) $ (0.38 ) $ (0.38 ) $ 0.00 Nine Months Ended September 30, 2020 2019 Common Stock Preferred Stock (1)(2) Common Stock Allocation of undistributed LendingClub net loss $ (129,968 ) $ (30,915 ) $ (30,979 ) Deemed dividend (50,204 ) 50,204 — Net income (loss) attributable to stockholders $ (180,172 ) $ 19,289 $ (30,979 ) Weighted-average common shares – Basic and Diluted (2) 76,781,157 13,174,545 86,849,388 Net income (loss) per share attributable to stockholders – Basic and Diluted (2) $ (2.35 ) $ 1.46 $ (0.36 ) (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 Nine Months Ended 2020 2019 2020 2019 Preferred stock 17,335,485 — 13,174,545 — Stock options 160,382 484,032 228,066 489,657 RSUs and PBRSUs 761,077 229,456 184,832 176,131 Total 18,256,944 713,488 13,587,443 665,788

Securities Available for Sale (

Securities Available for Sale (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 , were as follows: September 30, 2020 Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Allowance for Credit Losses Fair Value Asset-backed senior securities (1)(2) $ 84,589 $ 20 $ (590 ) $ — $ 84,019 CLUB Certificate asset-backed securities (1) 71,487 288 (1,569 ) (4,500 ) 65,706 Asset-backed subordinated securities (1) 30,289 1,126 (377 ) (13,042 ) 17,996 Commercial paper 6,999 — — — 6,999 Corporate debt securities 6,637 14 — — 6,651 Other asset-backed securities 3,796 8 — — 3,804 Certificates of deposit 2,200 — — — 2,200 Total securities available for sale $ 205,997 $ 1,456 $ (2,536 ) $ (17,542 ) $ 187,375 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 September 30, 2020 and December 31, 2019 , $151.4 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 September 30, 2020 , and December 31, 2019 , includes $127.4 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 September 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 September 30, 2020 Fair Value Unrealized Losses Fair Value Unrealized Losses Fair Value Unrealized Losses Asset-backed securities related to Structured Program transactions $ 78,556 $ (2,394 ) $ 4,178 $ (142 ) $ 82,734 $ (2,536 ) Corporate debt securities 1,301 — — — 1,301 — Other asset-backed securities 204 — — — 204 — Total securities with unrealized losses (1) $ 80,061 $ (2,394 ) $ 4,178 $ (142 ) $ 84,239 $ (2,536 ) 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 September 30, 2020 and December 31, 2019 totaled 94 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 third quarter and first nine months of 2020 : Allowance for Credit Losses CLUB Certificate asset-backed securities Asset-backed subordinated securities Total Beginning balance as of June 30, 2020 $ (6,587 ) $ (8,984 ) $ (15,571 ) Provision for credit loss expense 2,087 1,582 3,669 Allowance arising from PCD financial assets — (5,640 ) (5,640 ) Ending balance as of September 30, 2020 $ (4,500 ) $ (13,042 ) $ (17,542 ) 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 (546 ) (3,254 ) (3,800 ) Allowance arising from PCD financial assets (3,954 ) (9,788 ) (13,742 ) Ending balance as of September 30, 2020 $ (4,500 ) $ (13,042 ) $ (17,542 )
Available-for-sale Securities Purchased with Credit Deterioration	Securities available for sale purchased with credit deterioration during the third quarter and first nine months of 2020 were as follows: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Purchase price of PCD securities at acquisition $ 446 $ 25,915 Allowance for credit losses on PCD securities at acquisition 5,640 13,742 Par value of acquired PCD securities at acquisition $ 6,086 $ 39,657
Available-for-sale Securities by Contractual Maturity	The contractual maturities of securities available for sale at September 30, 2020 , were as follows: Amortized Cost Fair Value Within 1 year: Commercial paper $ 6,999 $ 6,999 Corporate debt securities 6,637 6,651 Certificates of deposit 2,200 2,200 Other asset-backed securities 1,930 1,930 Total 17,766 17,780 After 1 year through 5 years: Other asset-backed securities 1,866 1,874 Total 1,866 1,874 Asset-backed securities related to Structured Program transactions 186,365 167,721 Total securities available for sale $ 205,997 $ 187,375
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 September 30, Nine Months Ended September 30, 2020 2019 2020 2019 Proceeds $ — $ 4,019 $ 2,396 $ 10,419 Gross realized gains $ — $ 8 $ 3 $ 8 Gross realized losses $ — $ — $ (4 ) $ —

Loans Held For Investment, Lo_2

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Loans and Notes and Certificates	At September 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 September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 756,570 $ 1,148,888 $ 756,570 $ 1,148,888 Net fair value adjustments (48,296 ) (69,573 ) (47,973 ) (67,422 ) Fair value $ 708,274 $ 1,079,315 $ 708,597 $ 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: September 30, December 31, Notes $ 631,169 $ 863,488 Certificates 74,487 197,842 Secured borrowings 2,941 20,136 Total notes, certificates and secured borrowings $ 708,597 $ 1,081,466
Loans Invested in by Company	At September 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 $170.0 million and $40.3 million in loans at fair value in consolidated trusts as of September 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 September 30, December 31, September 30, December 31, September 30, December 31, Aggregate principal balance outstanding $ 66,232 $ 47,042 $ 202,749 $ 747,394 $ 268,981 $ 794,436 Net fair value adjustments (7,133 ) (3,349 ) (21,948 ) (25,039 ) (29,081 ) (28,388 ) Fair value $ 59,099 $ 43,693 $ 180,801 $ 722,355 $ 239,900 $ 766,048
Past Due Financing Receivables	Loans that were 90 days or more past due (including non-accrual loans) were as follows: September 30, December 31, Loans held for investment: Outstanding principal balance $ 4,140 $ 10,755 Net fair value adjustments (3,432 ) (9,663 ) Fair value $ 708 $ 1,092 Number of loans (not in thousands) 788 1,428 Loans invested in by the Company: Outstanding principal balance $ 2,116 $ 2,315 Net fair value adjustments (1,808 ) (2,016 ) Fair value $ 308 $ 299 Number of loans (not in thousands) 180 338

Securitizations and Variable _2

Securitizations and Variable Interest Entities (Tables)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 . Additionally, the assets and liabilities in the table below exclude intercompany balances that eliminate in consolidation: September 30, 2020 Consolidated VIEs Unconsolidated VIEs Total Assets Restricted cash $ 18,113 $ — $ 18,113 Securities available for sale at fair value — 167,721 167,721 Loans held for investment at fair value 74,487 — 74,487 Loans held for investment by the Company at fair value 57,756 — 57,756 Loans held for sale by the Company at fair value 138,557 — 138,557 Accrued interest receivable 1,768 92 1,860 Other assets 161 38,403 38,564 Total assets $ 290,842 $ 206,216 $ 497,058 Liabilities Accrued interest payable $ 1,008 $ — $ 1,008 Accrued expenses and other liabilities 181 — 181 Notes, certificates and secured borrowings at fair value 74,487 — 74,487 Payable to Structured Program note and certificate holders at fair value 173,410 — 173,410 Credit facilities and securities sold under repurchase agreements 18,500 — 18,500 Total liabilities 267,586 — 267,586 Total net assets $ 23,256 $ 206,216 $ 229,472 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended September 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold (1) $ — $ 233,852 $ 328,173 $ 772,734 Net gains (losses) recognized from loans securitized or sold $ — $ 1,563 $ 360 $ 9,174 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (2) $ — $ — $ 15,464 $ 37,803 Cash proceeds from loans securitized or sold $ — $ — $ 298,099 $ 659,755 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 4,176 $ 6,697 $ 4,545 $ 4,802 Cash proceeds for interest received on senior securities and subordinated securities $ 983 $ 1,847 $ 1,283 $ 2,045 (1) Includes non-cash purchase and sale of loans requested by investors to facilitate a Structured Program transaction during the third quarter of 2020. (2) For Structured Program transactions, the Company retained asset-backed senior securities of $21.8 million , CLUB Certificate asset-backed securities of $27.1 million , and asset-backed subordinated securities of $4.3 million for the third quarter of 2019 . Nine Months Ended September 30, 2020 2019 Unconsolidated Trusts Unconsolidated Certificate Program Trusts Unconsolidated Trusts Unconsolidated Certificate Program Trusts Principal derecognized from loans securitized or sold (1) $ 255,203 $ 871,489 $ 1,180,048 $ 1,797,174 Net gains (losses) recognized from loans securitized or sold $ (20 ) $ 7,159 $ 4,114 $ 20,641 Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement (2) $ 12,707 $ 31,423 $ 57,379 $ 88,371 Cash proceeds from loans securitized or sold $ 237,764 $ 598,515 $ 864,949 $ 1,629,967 Cash proceeds from servicing and other administrative fees on loans securitized or sold $ 14,118 $ 20,919 $ 12,324 $ 11,396 Cash proceeds for interest received on senior securities and subordinated securities $ 3,792 $ 6,740 $ 3,917 $ 5,280 (1) Includes non-cash purchase and sale of loans requested by investors to facilitate a Structured Program transaction during the third quarter of 2020. (2) For Structured Program transactions, the Company retained asset-backed senior securities of $23.0 million and $60.0 million , CLUB Certificate asset-backed securities of $18.3 million and $77.7 million , and asset-backed subordinated securities of $2.9 million and $8.1 million for the first nine months 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Carrying Value Total VIE Assets Securities Available for Sale Accrued Interest Receivable Other Assets Net Assets Unconsolidated Trusts $ 1,502,665 $ 67,415 $ 51 $ 11,774 $ 79,240 Certificate Program 2,315,354 100,306 41 18,854 119,201 Investment Fund 34,376 — — 7,775 7,775 Total unconsolidated VIEs $ 3,852,395 $ 167,721 $ 92 $ 38,403 $ 206,216 September 30, 2020 Maximum Exposure to Loss Securities Available for Sale Accrued Interest Receivable Other Assets Total Exposure Unconsolidated Trusts $ 67,415 $ 51 $ 11,774 $ 79,240 Certificate Program 100,306 41 18,854 119,201 Investment Fund — — 7,775 7,775 Total unconsolidated VIEs $ 167,721 $ 92 $ 38,403 $ 206,216 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Assets Liabilities Net Assets LC Trust $ 77,496 $ (75,166 ) $ 2,330 Consolidated trusts 184,341 (173,726 ) 10,615 Warehouse credit facilities 29,005 (18,694 ) 10,311 Total consolidated VIEs $ 290,842 $ (267,586 ) $ 23,256 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)	9 Months Ended
	Sep. 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Loans held for investment $ — $ — $ 708,274 $ 708,274 Loans held for investment by the Company — — 59,099 59,099 Loans held for sale by the Company — — 180,801 180,801 Securities available for sale: Asset-backed senior securities and subordinated securities — 84,020 17,995 102,015 CLUB Certificate asset-backed securities — — 65,706 65,706 Commercial paper — 6,999 — 6,999 Corporate debt securities — 6,651 — 6,651 Other asset-backed securities — 3,804 — 3,804 Certificates of deposit — 2,200 — 2,200 Total securities available for sale — 103,674 83,701 187,375 Servicing assets — — 59,538 59,538 Total assets $ — $ 103,674 $ 1,091,413 $ 1,195,087 Liabilities: Notes, certificates and secured borrowings $ — $ — $ 708,597 $ 708,597 Payable to Structured Program note and certificate holders — — 173,410 173,410 Deferred revenue — — 4,154 4,154 Loan trailing fee liability — — 8,258 8,258 Total liabilities $ — $ — $ 894,419 $ 894,419 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Carrying Amount Level 1 Inputs Level 2 Inputs Level 3 Inputs Balance at Fair Value Assets: Cash and cash equivalents (1) $ 445,180 $ — $ 445,180 $ — $ 445,180 Restricted cash (1) 98,787 — 98,787 — 98,787 Servicer reserve receivable 30 — 30 — 30 Deposits 892 — 892 — 892 Total assets $ 544,889 $ — $ 544,889 $ — $ 544,889 Liabilities: Accrued expenses and other liabilities $ 15,552 $ — $ — $ 15,552 $ 15,552 Accounts payable 3,382 — 3,382 — 3,382 Payables to investors 35,068 — 35,068 — 35,068 Credit facilities and securities sold under repurchase agreements 120,159 — 54,954 65,205 120,159 Total liabilities $ 174,161 $ — $ 93,404 $ 80,757 $ 174,161 (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 September 30, 2020 and December 31, 2019 : Asset-Backed Securities Related to Structured Program Transactions September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 2.2 % 24.4 % 8.4 % 3.4 % 20.7 % 8.8 % Net cumulative expected loss rates (1) 5.3 % 29.8 % 18.6 % 4.5 % 37.9 % 19.2 % Cumulative expected prepayment rates (1) 6.3 % 31.0 % 25.3 % 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 September 30, 2020 and December 31, 2019 : September 30, 2020 Asset-Backed Securities Related to Structured Program Transactions Senior Securities Subordinated Securities CLUB Certificates Fair value of interests held $ 84,019 $ 17,996 $ 65,706 Expected weighted-average life (in years) 0.9 1.5 1.0 Discount rates 100 basis point increase $ (729 ) $ (179 ) $ (550 ) 200 basis point increase $ (1,437 ) $ (385 ) $ (1,088 ) Expected credit loss rates on underlying loans 10% adverse change $ — $ (1,958 ) $ (2,004 ) 20% adverse change $ — $ (3,968 ) $ (4,035 ) Expected prepayment rates 10% adverse change $ — $ (776 ) $ (792 ) 20% adverse change $ — $ (1,612 ) $ (1,597 ) 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 95,590 $ 95,821 $ 110,796 $ 60,279 Additions 446 31,597 26,458 85,944 Redemptions (426 ) (8,861 ) (802 ) (8,861 ) Transfers (517 ) — (517 ) — Cash received (20,297 ) (13,385 ) (54,371 ) (31,791 ) Change in unrealized gain (loss) 3,413 (768 ) 288 140 Accrued interest 1,823 — 5,649 — Provision for credit loss expense 3,669 — (3,800 ) — Other-than-temporary impairment — (1,175 ) — (2,482 ) Fair value at end of period $ 83,701 $ 103,229 $ 83,701 $ 103,229
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 September 30, 2020 and December 31, 2019 : Loans Invested in by the Company September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 9.7 % 13.3 % 10.0 % 6.0 % 11.5 % 7.8 % Net cumulative expected loss rates (1) 5.0 % 27.0 % 10.3 % 3.6 % 36.6 % 10.9 % Cumulative expected prepayment rates (1) 27.6 % 39.7 % 30.8 % 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 third quarters and first nine months 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 $ 75,159 $ (9,602 ) $ 65,557 $ 668,262 $ (81,169 ) $ 587,093 $ 743,421 $ (90,771 ) $ 652,650 Purchases 201 (189 ) 12 27,756 (6 ) 27,750 27,957 (195 ) 27,762 Transfers (to) from loans held for investment and/or loans held for sale (155 ) — (155 ) 479 — 479 324 — 324 Sales — — — (442,744 ) 51,220 (391,524 ) (442,744 ) 51,220 (391,524 ) Principal payments and retirements (8,205 ) — (8,205 ) (44,439 ) — (44,439 ) (52,644 ) — (52,644 ) Charge-offs, net of recoveries (768 ) 245 (523 ) (6,565 ) 6,148 (417 ) (7,333 ) 6,393 (940 ) Change in fair value recorded in earnings — 2,413 2,413 — 1,859 1,859 — 4,272 4,272 Balance at $ 66,232 $ (7,133 ) $ 59,099 $ 202,749 $ (21,948 ) $ 180,801 $ 268,981 $ (29,081 ) $ 239,900 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 $ 6,550 $ (1,523 ) $ 5,027 $ 457,787 $ (22,704 ) $ 435,083 $ 464,337 $ (24,227 ) $ 440,110 Purchases 791 (632 ) 159 1,531,916 — 1,531,916 1,532,707 (632 ) 1,532,075 Transfers (to) from loans held for investment and/or loans held for sale 304 — 304 (119 ) — (119 ) 185 — 185 Sales — — — (1,181,739 ) 24,093 (1,157,646 ) (1,181,739 ) 24,093 (1,157,646 ) Principal payments and retirements (840 ) — (840 ) (65,814 ) — (65,814 ) (66,654 ) — (66,654 ) Charge-offs, net of recoveries (1,209 ) 697 (512 ) (6,680 ) 5,922 (758 ) (7,889 ) 6,619 (1,270 ) Change in fair value recorded in earnings — 73 73 — (32,492 ) (32,492 ) — (32,419 ) (32,419 ) Balance at $ 5,596 $ (1,385 ) $ 4,211 $ 735,351 $ (25,181 ) $ 710,170 $ 740,947 $ (26,566 ) $ 714,381 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 1,314 (1,194 ) 120 1,430,213 (6 ) 1,430,207 1,431,527 (1,200 ) 1,430,327 Transfers (to) from loans held for investment and/or loans held for sale 43,170 — 43,170 (42,680 ) — (42,680 ) 490 — 490 Sales — — — (1,726,678 ) 82,076 (1,644,602 ) (1,726,678 ) 82,076 (1,644,602 ) Principal payments and retirements (21,838 ) — (21,838 ) (186,130 ) (186,130 ) (207,968 ) — (207,968 ) Charge-offs, net of recoveries (3,456 ) 756 (2,700 ) (19,370 ) 17,945 (1,425 ) (22,826 ) 18,701 (4,125 ) Change in fair value recorded in earnings — (3,346 ) (3,346 ) — (96,924 ) (96,924 ) — (100,270 ) (100,270 ) Balance at $ 66,232 $ (7,133 ) $ 59,099 $ 202,749 $ (21,948 ) $ 180,801 $ 268,981 $ (29,081 ) $ 239,900 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 1,961 (1,626 ) 335 3,564,467 — 3,564,467 3,566,428 (1,626 ) 3,564,802 Transfers (to) from loans held for investment and/or loans held for sale 5,254 (1,471 ) 3,783 (4,617 ) 1,471 (3,146 ) 637 — 637 Sales — — — (3,477,485 ) 86,387 (3,391,098 ) (3,477,485 ) 86,387 (3,391,098 ) Principal payments and retirements (2,295 ) — (2,295 ) (197,692 ) — (197,692 ) (199,987 ) — (199,987 ) Charge-offs, net of recoveries (2,842 ) 1,544 (1,298 ) (19,037 ) 17,885 (1,152 ) (21,879 ) 19,429 (2,450 ) Change in fair value recorded in earnings — 1,103 1,103 — (101,230 ) (101,230 ) — (100,127 ) (100,127 ) Balance at $ 5,596 $ (1,385 ) $ 4,211 $ 735,351 $ (25,181 ) $ 710,170 $ 740,947 $ (26,566 ) $ 714,381
Fair Value Sensitivity of Loans	The fair value sensitivity of loans invested in by the Company to adverse changes in key assumptions as of September 30, 2020 and December 31, 2019 , are as follows: September 30, December 31, Fair value of loans invested in by the Company $ 239,900 $ 766,048 Expected weighted-average life (in years) 1.2 1.5 Discount rates 100 basis point increase $ (2,564 ) $ (9,806 ) 200 basis point increase $ (5,083 ) $ (19,410 ) Expected credit loss rates on underlying loans 10% adverse change $ (2,938 ) $ (9,558 ) 20% adverse change $ (5,937 ) $ (19,136 ) Expected prepayment rates 10% adverse change $ (694 ) $ (2,429 ) 20% adverse change $ (1,401 ) $ (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 September 30, 2020 and December 31, 2019 : Servicing Assets September 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) 4.5 % 27.2 % 12.8 % 3.7 % 36.1 % 12.4 % Cumulative expected prepayment rates (1) 27.5 % 35.2 % 31.3 % 27.5 % 41.8 % 32.5 % Total market servicing rates (% per annum on outstanding principal balance) (2) 0.62 % 0.62 % 0.62 % 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 65,515 $ 78,714 $ 89,680 $ 64,006 Issuances (1) 7,783 21,042 27,119 55,588 Change in fair value, included in investor fees (13,376 ) (16,849 ) (48,046 ) (39,954 ) Other net changes included in deferred revenue (384 ) 343 (9,215 ) 3,610 Fair value at end of period $ 59,538 $ 83,250 $ 59,538 $ 83,250 (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 September 30, 2020 and December 31, 2019 : Servicing Assets September 30, December 31, 2019 Weighted-average market servicing rate assumptions 0.62 % 0.66 % Change in fair value from: Servicing rate increase by 0.10% $ (7,993 ) $ (13,978 ) Servicing rate decrease by 0.10% $ 7,994 $ 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 September 30, 2020 and December 31, 2019 : Servicing Assets September 30, December 31, 2019 Fair value of Servicing Assets $ 59,538 $ 89,680 Discount rates 100 basis point increase $ (481 ) $ (680 ) 200 basis point increase $ (962 ) $ (1,360 ) Expected loss rates 10% adverse change $ (285 ) $ (582 ) 20% adverse change $ (570 ) $ (1,165 ) Expected prepayment rates 10% adverse change $ (2,246 ) $ (2,962 ) 20% adverse change $ (4,492 ) $ (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 September 30, 2020 and December 31, 2019 : Loans Held for Investment, Notes, Certificates and Secured Borrowings September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Average Minimum Maximum Weighted- Average Discount rates 7.7 % 15.1 % 9.6 % 6.0 % 12.0 % 7.9 % Net cumulative expected loss rates (1) 4.3 % 28.0 % 11.7 % 3.6 % 34.9 % 11.9 % Cumulative expected prepayment rates (1) 27.6 % 35.6 % 30.7 % 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 third quarters and first nine months 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 $ 851,476 $ (66,248 ) $ 785,228 $ — $ — $ — $ 851,476 $ (65,548 ) $ 785,928 Purchases 77,389 — 77,389 492,440 (24,533 ) 467,907 — — — Transfers (to) from loans held for investment and/or loans held for sale (324 ) — (324 ) — — — — — — Issuances — — — — — — 77,389 — 77,389 Sales — — — (492,440 ) 29,902 (462,538 ) — — — Principal payments and retirements (159,753 ) — (159,753 ) — — — (160,077 ) — (160,077 ) Charge-offs, net of recoveries (12,218 ) 2,049 (10,169 ) — — — (12,218 ) 1,358 (10,860 ) Change in fair value recorded in earnings — 15,903 15,903 — (5,369 ) (5,369 ) — 16,217 16,217 Balance at $ 756,570 $ (48,296 ) $ 708,274 $ — $ — $ — $ 756,570 $ (47,973 ) $ 708,597 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 $ 1,605,257 $ (92,273 ) $ 1,512,984 $ — $ — $ — $ 1,605,257 $ (87,306 ) $ 1,517,951 Purchases 162,402 — 162,402 697,833 (9,080 ) 688,753 — — — Transfers (to) from loans held for investment and/or loans held for sale (122,515 ) — (122,515 ) 122,330 — 122,330 — — — Issuances — — — — — — 162,402 — 162,402 Sales — — — (820,163 ) 8,814 (811,349 ) — — — Principal payments and retirements (286,106 ) — (286,106 ) — — — (408,621 ) — (408,621 ) Charge-offs, net of recoveries (42,433 ) 29,029 (13,404 ) — — — (42,433 ) 27,347 (15,086 ) Change in fair value recorded in earnings — (15,882 ) (15,882 ) — 266 266 — (15,688 ) (15,688 ) Balance at $ 1,316,605 $ (79,126 ) $ 1,237,479 $ — $ — $ — $ 1,316,605 $ (75,647 ) $ 1,240,958 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 $ 1,148,888 $ (69,573 ) $ 1,079,315 $ — $ — $ — $ 1,148,888 $ (67,422 ) $ 1,081,466 Purchases 237,283 — 237,283 1,015,028 (27,456 ) 987,572 — — — Transfers (to) from loans held for investment and/or loans held for sale (17,903 ) — (17,903 ) 17,413 — 17,413 — — — Issuances — — — — — — 237,283 — 237,283 Sales — — — (1,032,441 ) 33,365 (999,076 ) — — — Principal payments and retirements (547,042 ) — (547,042 ) — — — (564,945 ) — (564,945 ) Charge-offs, net of recoveries (64,656 ) 33,562 (31,094 ) — — — (64,656 ) 31,345 (33,311 ) Change in fair value recorded in earnings — (12,285 ) (12,285 ) — (5,909 ) (5,909 ) — (11,896 ) (11,896 ) Balance at $ 756,570 $ (48,296 ) $ 708,274 $ — $ — $ — $ 756,570 $ (47,973 ) $ 708,597 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 $ 2,013,438 $ (130,187 ) $ 1,883,251 $ — $ — $ — $ 2,033,258 $ (127,383 ) $ 1,905,875 Purchases 522,248 (21 ) 522,227 1,812,984 (9,548 ) 1,803,436 — — — Transfers (to) from loans held for investment and/or loans held for sale (122,967 ) — (122,967 ) 122,330 — 122,330 — — — Issuances — — — — — — 522,248 — 522,248 Sales — — — (1,935,314 ) 8,034 (1,927,280 ) — — — Principal payments and retirements (944,469 ) — (944,469 ) — — — (1,087,256 ) 14 (1,087,242 ) Charge-offs, net of recoveries (151,645 ) 110,705 (40,940 ) — — — (151,645 ) 109,012 (42,633 ) Change in fair value recorded in earnings — (59,623 ) (59,623 ) — 1,514 1,514 — (57,290 ) (57,290 ) Balance at $ 1,316,605 $ (79,126 ) $ 1,237,479 $ — $ — $ — $ 1,316,605 $ (75,647 ) $ 1,240,958
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 September 30, 2020 and December 31, 2019 : Loan Trailing Fee Liability September 30, 2020 December 31, 2019 Minimum Maximum Weighted- Minimum Maximum Weighted- Discount rates 4.8 % 16.4 % 10.6 % 2.9 % 14.8 % 9.3 % Net cumulative expected loss rates (1) 4.6 % 27.2 % 14.8 % 3.7 % 36.0 % 14.4 % Cumulative expected prepayment rates (1) 27.5 % 38.9 % 31.7 % 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 third quarters and first nine months of 2020 and 2019 : Three Months Ended Nine Months Ended 2020 2019 2020 2019 Fair value at beginning of period $ 9,213 $ 10,224 $ 11,099 $ 10,010 Issuances 356 2,152 2,322 5,552 Cash payment of Loan Trailing Fee (1,829 ) (2,015 ) (5,726 ) (5,920 ) Change in fair value, included in Origination and Servicing 518 222 563 941 Fair value at end of period $ 8,258 $ 10,583 $ 8,258 $ 10,583

Property, Equipment and Softw_2

Property, Equipment and Software, Net (Tables)	9 Months Ended
	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Property, Equipment and Software, Net	Property, equipment and software, net, consist of the following: September 30, December 31, Internally developed software (1) $ 116,378 $ 117,510 Leasehold improvements 35,053 39,315 Computer equipment 27,034 26,669 Purchased software 17,926 11,846 Furniture and fixtures 8,203 9,406 Construction in progress 3,084 4,937 Total property, equipment and software 207,678 209,683 Accumulated depreciation and amortization (106,633 ) (95,313 ) Total property, equipment and software, net $ 101,045 $ 114,370 (1) Includes $14.5 million and $21.3 million of development in progress as of September 30, 2020 and December 31, 2019 , respectively.

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2020
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Other Assets	Other assets consist of the following: September 30, December 31, Loan servicing assets, at fair value (1) $ 59,538 $ 89,680 Accounts receivable 11,359 19,017 Prepaid expenses 11,893 14,862 Other investments 8,275 8,242 Deferred financing costs 87 1,484 Other 12,473 10,383 Total other assets $ 103,625 $ 143,668 (1) As of September 30, 2020 and December 31, 2019 , loans underlying loan servicing rights had a total outstanding principal balance of $11.2 billion and $14.1 billion , respectively.

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	9 Months Ended
	Sep. 30, 2020
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consist of the following: September 30, December 31, Transaction fee refund reserve $ 16,207 $ 25,541 Contingent liabilities (1) 22,342 16,000 Accrued expenses 12,873 36,797 Accrued compensation 22,629 30,484 Loan trailing fee liability, at fair value 8,258 11,099 Deferred revenue 4,313 13,688 Other 14,294 9,027 Total accrued expenses and other liabilities $ 100,916 $ 142,636 (1) See “ Note 18. Commitments and Contingencies ” for further information.

Employee Incentive Plans (Table

Employee Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2020
Postemployment Benefits [Abstract]
Total Stock-based Compensation Expense	Stock-based compensation expense was as follows for the periods presented: Three Months Ended Nine Months Ended 2020 2019 2020 2019 RSUs and PBRSUs $ 14,986 $ 17,543 $ 46,667 $ 54,587 Stock options 136 552 788 1,827 ESPP — — — 484 Total stock-based compensation expense $ 15,122 $ 18,095 $ 47,455 $ 56,898
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 Nine Months Ended 2020 2019 2020 2019 Sales and marketing $ 880 $ 1,505 $ 3,274 $ 4,616 Origination and servicing 721 852 2,079 2,622 Engineering and product development 3,295 4,737 10,578 15,443 Other general and administrative 10,226 11,001 31,524 34,217 Total stock-based compensation expense $ 15,122 $ 18,095 $ 47,455 $ 56,898
Schedule of RSU Activity	The following table summarizes the activities for the Company’s RSUs during the first nine months of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 9,597,404 $ 16.78 Granted 10,622,273 $ 9.34 Vested (3,121,385 ) $ 16.18 Forfeited/expired (4,758,401 ) $ 13.71 Unvested at September 30, 2020 12,339,891 $ 11.72
Schedule of PBRSU Activity	The following table summarizes the activities for the Company’s PBRSUs during the first nine months of 2020 : Number of Units Weighted- Average Grant Date Fair Value Unvested at December 31, 2019 471,589 $ 16.94 Granted 1,424,438 $ 4.67 Vested (142,940 ) $ 17.59 Forfeited/expired (1) (272,760 ) $ 13.85 Unvested at September 30, 2020 1,480,327 $ 5.60 (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)	9 Months Ended
	Sep. 30, 2020
Leases [Abstract]
Supplemental Balance Sheet Information	Balance sheet information as of September 30, 2020 related to leases was as follows: ROU Assets and Lease Liabilities September 30, 2020 Operating lease assets $ 76,226 Operating lease liabilities (1) $ 98,204 (1)
Lease Costs	Components of net lease costs for the third quarters and first nine months of 2020 and 2019 were as follows: Three Months Ended Nine Months Ended Net Lease Costs Income Statement Classification 2020 2019 2020 2019 Operating lease costs (1) Other general and administrative expense $ (4,140 ) $ (4,617 ) $ (13,333 ) $ (14,788 ) Sublease revenue Other revenue 1,538 1,175 4,609 3,198 Net lease costs $ (2,602 ) $ (3,442 ) $ (8,724 ) $ (11,590 ) (1) Includes variable lease costs of $0.4 million and $0.4 million for the third quarters of 2020 and 2019 , respectively. Includes variable lease costs of $1.1 million and $1.2 million for the first nine months of 2020 and 2019 , respectively.
Supplemental Cash Flow Information	Supplemental cash flow information related to the Company’s operating leases for the third quarters of 2020 and 2019 was as follows: Three Months Ended Nine Months Ended 2020 2019 2020 2019 Non-cash operating activity: Leased assets obtained in exchange for new and amended operating lease liabilities (1) $ — $ — $ 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 September 30, 2020 were as follows: Operating Lease Payments Sublease Revenue Net Remainder of 2020 $ 4,696 $ (1,965 ) $ 2,731 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) $ 128,317 $ (11,650 ) $ 116,667 Discount effect 30,113 Present value of future minimum lease payments $ 98,204 (1) As of September 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 September 30, 2020 Weighted-average remaining lease term (in years) 9.09 Weighted-average discount rate 5.76 %

Restructuring Costs Restructuri

Restructuring Costs Restructuring and Related Activities (Tables)	9 Months Ended
	Sep. 30, 2020
Restructuring and Related Activities [Abstract]
Restructuring Expense	The following table presents the restructuring costs for the third quarter and first nine months of 2020 recorded in the Company’s Condensed Consolidated Statements of Operations: Three Months Ended September 30, 2020 Nine Months Ended September 30, 2020 Sales and marketing $ (108 ) $ 1,271 Origination and servicing (113 ) 793 Engineering and product development (227 ) 7,245 Other general and administrative 1,201 8,480 Total $ 753 $ 17,789

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 25,636	$ 162,801	$ 167,992	$ 452,428
Transaction fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	24,372	161,205	164,489	448,809
Referral fees
Disaggregation of Revenue [Line Items]
Total revenue from contracts with customers	$ 1,264	$ 1,596	$ 3,503	$ 3,619

Revenue from Contracts with C_4

Revenue from Contracts with Customers - Additional Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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		3 Months Ended			9 Months Ended
		Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss		$ (34,325)		$ (383)	$ (160,883)	$ (30,979)
Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss					(129,968)	(30,979)
Deemed dividend					(50,204)	0
Net loss attributable to stockholders		$ (27,779)		$ (383)	$ (180,172)	$ (30,979)
Weighted-average common shares - Basic and Diluted (shares)	[1]	73,566,385		87,588,495	76,781,157	86,849,388
Net loss per share attributable to common stockholders:
Net income (loss) per share – Basic and Diluted ($ per share)	[1]	$ (0.38)		$ 0	$ (2.35)	$ (0.36)
Preferred Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Allocation of undistributed LendingClub net loss					$ (30,915)
Deemed dividend			$ (50,200)		50,204
Net loss attributable to stockholders		$ (6,546)			$ 19,289
Weighted-average common shares - Basic and Diluted (shares)	[1]	17,335,485		0	13,174,545	0
Net loss per share attributable to common stockholders:
Net income (loss) per share – Basic and Diluted ($ per share)	[1]	$ (0.38)		$ 0	$ 1.46	$ 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	Sep. 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	18,256,944	713,488	13,587,443	665,788
Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	17,335,485	0	13,174,545	0
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	160,382	484,032	228,066	489,657
RSUs and PBRSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average common shares excluded (shares)	761,077	229,456	184,832	176,131

Securities Available for Sale -

Securities Available for Sale - Amortized cost/fair value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Jun. 30, 2020	Dec. 31, 2019
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	$ 205,997		$ 271,173
Gross Unrealized Gains	1,456		1,078
Gross Unrealized Losses	(2,536)		(1,324)
Allowance for Credit Losses	(17,542)	$ (15,571)	0
Fair Value	187,375		270,927
Asset-backed senior securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	84,589		108,780
Gross Unrealized Gains	20		597
Gross Unrealized Losses	(590)		(38)
Allowance for Credit Losses	0
Fair Value	84,019		109,339
Securities pledged as collateral at fair value	127,400		174,800
CLUB Certificate asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	71,487		90,728
Gross Unrealized Gains	288		41
Gross Unrealized Losses	(1,569)		(1,063)
Allowance for Credit Losses	(4,500)	(6,587)	0
Fair Value	65,706		89,706
Asset-backed subordinated securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	30,289		20,888
Gross Unrealized Gains	1,126		423
Gross Unrealized Losses	(377)		(221)
Allowance for Credit Losses	(13,042)	$ (8,984)	0
Fair Value	17,996		21,090
Commercial paper
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,999		9,274
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Allowance for Credit Losses	0
Fair Value	6,999		9,274
Corporate debt securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	6,637		14,333
Gross Unrealized Gains	14		11
Gross Unrealized Losses	0		(1)
Allowance for Credit Losses	0
Fair Value	6,651		14,343
Other asset-backed securities
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	3,796		12,075
Gross Unrealized Gains	8		6
Gross Unrealized Losses	0		(1)
Allowance for Credit Losses	0
Fair Value	3,804		12,080
Certificates of deposit
Debt Securities, Available-for-sale [Line Items]
Amortized Cost	2,200		13,100
Gross Unrealized Gains	0		0
Gross Unrealized Losses	0		0
Allowance for Credit Losses	0
Fair Value	2,200		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	$ 151,400		$ 219,000

Securities Available for Sale_2

Securities Available for Sale - Continuous loss (Details) $ in Thousands	Sep. 30, 2020USD ($)position	Dec. 31, 2019USD ($)position
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 80,061	$ 99,025
Unrealized Losses, Less than 12 months	(2,394)	(1,289)
Fair Value, 12 months or longer	4,178	1,875
Unrealized Losses, 12 months or longer	(142)	(35)
Fair Value	84,239	100,900
Unrealized Losses	$ (2,536)	$ (1,324)
Number of positions with unrealized losses | position	94	70
Asset-backed securities related to Structured Program transactions
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	$ 78,556	$ 91,350
Unrealized Losses, Less than 12 months	(2,394)	(1,287)
Fair Value, 12 months or longer	4,178	1,875
Unrealized Losses, 12 months or longer	(142)	(35)
Fair Value	82,734	93,225
Unrealized Losses	(2,536)	(1,322)
Corporate debt securities
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	1,301	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	1,301	4,613
Unrealized Losses	0	(1)
Other asset-backed securities
Schedule of Securities Available-for-sale [Line Items]
Fair Value, Less than 12 months	204	3,062
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	204	3,062
Unrealized Losses	$ 0	$ (1)

Securities Available for Sale_3

Securities Available for Sale - Maturities (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair value
Fair value, within 1 year	$ 17,780
Fair value, after 1 year through 5 years	1,874
Fair value	187,375	$ 270,927
Amortized cost
Amortized cost, within 1 year	17,766
amortized cost, after 1 year through 5 years	1,866
Amortized Cost	205,997	271,173
Commercial paper
Fair value
Fair value, within 1 year	6,999
Fair value	6,999	9,274
Amortized cost
Amortized cost, within 1 year	6,999
Amortized Cost	6,999	9,274
Corporate debt securities
Fair value
Fair value, within 1 year	6,651
Fair value	6,651	14,343
Amortized cost
Amortized cost, within 1 year	6,637
Amortized Cost	6,637	14,333
Certificates of deposit
Fair value
Fair value, within 1 year	2,200
Fair value	2,200	13,100
Amortized cost
Amortized cost, within 1 year	2,200
Amortized Cost	2,200	13,100
Other asset-backed securities
Fair value
Fair value, within 1 year	1,930
Fair value, after 1 year through 5 years	1,874
Fair value	3,804	12,080
Amortized cost
Amortized cost, within 1 year	1,930
amortized cost, after 1 year through 5 years	1,866
Amortized Cost	3,796	$ 12,075
Asset-backed Securities Related to Structured Program Transactions
Fair value
Fair value	167,721
Amortized cost
Amortized Cost	$ 186,365

Securities Available for Sale_4

Securities Available for Sale - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for Credit Losses, beginning	$ (15,571)	$ 0
Provision for credit loss expense	3,669	(3,800)
Allowance arising from PCD financial assets	(5,640)	(13,742)
Allowance for credit losses, ending	(17,542)	(17,542)
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	(6,587)	0
Provision for credit loss expense	2,087	(546)
Allowance arising from PCD financial assets	0	(3,954)
Allowance for credit losses, ending	(4,500)	(4,500)
Asset-backed subordinated securities
Debt Securities, Available-for-sale, Allowance for Credit Loss [Roll Forward]
Allowance for Credit Losses, beginning	(8,984)	0
Provision for credit loss expense	1,582	(3,254)
Allowance arising from PCD financial assets	(5,640)	(9,788)
Allowance for credit losses, ending	$ (13,042)	$ (13,042)

Securities Available for Sale_5

Securities Available for Sale - Securities Purchased with Credit Deterioration (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]
Purchase price of PCD securities at acquisition	$ 446	$ 25,915
Allowance for credit losses on PCD securities at acquisition	5,640	13,742
Par value of acquired PCD securities at acquisition	$ 6,086	$ 39,657

Securities Available for Sale_6

Securities Available for Sale - Additional information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Schedule of Securities Available-for-sale [Line Items]
Other-than-temporary impairment charges				$ 2,500,000
Credit losses recognized into earnings for other-than-temporary impaired securities		$ 0		0
Sale of asset-backed securities	$ 0	4,019,000	$ 2,396,000	10,419,000
Asset-backed Securities Related to Structured Program Transactions
Schedule of Securities Available-for-sale [Line Items]
Credit loss expense	(3,700,000)		3,800,000
Other-than-temporary impairment charges		1,200,000
Other asset-backed securities
Schedule of Securities Available-for-sale [Line Items]
Sale of asset-backed securities	200,000,000	1,200,000,000	$ 1,300,000,000	3,200,000,000
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Proceeds	$ 0	$ 4,019	$ 2,396	$ 10,419
Gross realized gains	0	8	3	8
Gross realized losses	$ 0	$ 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		9 Months Ended	12 Months Ended
		Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Loans held for investment at fair value	[1]	$ 708,274	$ 1,079,315
Notes, certificates and secured borrowings, fair value	[1]	708,597	1,081,466
Loans held for sale by the Company, fair value	[1]	180,801	722,355
Fair Value, Measurements, Recurring
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes		631,169	863,488
Certificates		74,487	197,842
Secured borrowings		2,941	20,136
Notes, certificates and secured borrowings, fair value		708,597	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		268,981	794,436
Net fair value adjustments		(29,081)	(28,388)
Fair value of loans invested in by the Company		239,900	766,048
Fair Value, Measurements, Recurring | Loans Held for Investment
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Aggregate principal balance outstanding		756,570	1,148,888
Net fair value adjustments		(48,296)	(69,573)
Loans held for investment at fair value		708,274	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		66,232	47,042
Net fair value adjustments		(7,133)	(3,349)
Loans held for investment at fair value		59,099	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		756,570	1,148,888
Fair value adjustments		(47,973)	(67,422)
Notes, certificates and secured borrowings, fair value		708,597	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		202,749	747,394
Net fair value adjustments		(21,948)	(25,039)
Loans held for sale by the Company, fair value		$ 180,801	$ 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	Sep. 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	$ 4,140	$ 10,755
Net fair value adjustments	(3,432)	(9,663)
Fair value	$ 708	$ 1,092
Number of loans (not in thousands) | Loan	788	1,428
Loans Invested in by Company
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Outstanding principal balance	$ 2,116	$ 2,315
Net fair value adjustments	(1,808)	(2,016)
Fair value	$ 308	$ 299
Number of loans (not in thousands) | Loan	180	338

Loans Held For Investment, Lo_5

Loans Held For Investment, Loans Held For Sale, Notes, Certificates and Secured Borrowings - Additional Information (Detail) - USD ($) $ in Thousands		3 Months Ended		9 Months Ended		12 Months Ended
		Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 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]	$ 173,410		$ 173,410		$ 40,610
Net interest income		13,637	$ (8,868)	$ (46,515)	$ (29,113)
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		239,900	714,381	$ 239,900	714,381	766,048	$ 652,650	$ 440,110	$ 842,604
Net change in fair value recorded in earnings on loans invested in by the Company		4,272	(32,419)	(100,270)	(100,127)
Outstanding Principal Balance, Purchases		27,957	1,532,707	1,431,527	3,566,428
Outstanding Principal Balance, Sales		442,744	1,181,739	1,726,678	3,477,485
Fair Value, Measurements, Recurring | Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Net fair value adjustments				(29,081)		(28,388)
Net interest income		12,400	$ 17,700	54,300	$ 59,300
Aggregate principal balance outstanding		268,981		268,981		794,436
Fair value of loans invested in by the Company		239,900		239,900		766,048
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				(21,948)		(25,039)
Aggregate principal balance outstanding		202,749		202,749		747,394
Whole Loan Investors | Loans Invested in by Company
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Outstanding Principal Balance, Sales		442,700
Secured Borrowings | Loans Held for Investment
Loans, Notes and Certificates, and Loan Servicing Rights [Line Items]
Loans pledged as collateral		2,800		2,800		18,000
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		26,300		26,300		551,500
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		170,000		170,000		40,300
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		170,000		170,000
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)		$ 173,400		$ 173,400		$ 40,600
[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		Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Restricted cash	[1]	$ 98,787	$ 243,343
Securities available for sale at fair value		187,375	270,927
Loans held for investment at fair value	[1]	708,274	1,079,315
Loans held for investment by the Company at fair value	[1]	59,099	43,693
Loans held for sale by the Company at fair value	[1]	180,801	722,355
Accrued interest receivable	[1]	6,865	12,857
Other assets	[1]	103,625	143,668
Accrued interest payable	[1]	5,829	9,260
Accrued expenses and other liabilities	[1]	100,916	142,636
Notes, certificates and secured borrowings at fair value	[1]	708,597	1,081,466
Payable to Structured Program note and certificate holders at fair value	[1]	173,410	40,610
Credit facilities and securities sold under repurchase agreements	[1]	120,159	587,453
Liabilities		1,245,565	2,082,154
Total
Variable Interest Entity [Line Items]
Restricted cash		18,113	30,046
Securities available for sale at fair value		167,721	220,135
Loans held for investment at fair value		74,487	197,842
Loans held for investment by the Company at fair value		57,756	40,251
Loans held for sale by the Company at fair value		138,557	551,455
Accrued interest receivable		1,860	5,308
Other assets		38,564	53,457
Total assets		497,058	1,098,494
Accrued interest payable		1,008	3,185
Accrued expenses and other liabilities		181	244
Notes, certificates and secured borrowings at fair value		74,487	197,842
Payable to Structured Program note and certificate holders at fair value		173,410	40,610
Credit facilities and securities sold under repurchase agreements		18,500	387,251
Liabilities		267,586	629,132
Total net assets		229,472	469,362
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Restricted cash		0	0
Securities available for sale at fair value		167,721	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		92	877
Other assets		38,403	52,098
Total assets		206,216	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		206,216	273,110
Consolidated VIEs
Variable Interest Entity [Line Items]
Restricted cash		18,113	30,046
Securities available for sale at fair value		0	0
Loans held for investment at fair value		74,487	197,842
Loans held for investment by the Company at fair value		57,756	40,251
Loans held for sale by the Company at fair value		138,557	551,455
Accrued interest receivable		1,768	4,431
Other assets		161	1,359
Total assets		290,842	825,384
Accrued interest payable		1,008	3,185
Accrued expenses and other liabilities		181	244
Notes, certificates and secured borrowings at fair value		74,487	197,842
Payable to Structured Program note and certificate holders at fair value		173,410	40,610
Credit facilities and securities sold under repurchase agreements		18,500	387,251
Liabilities		267,586	629,132
Total net assets		$ 23,256	$ 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	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 1,979,457	$ 2,982,341
Liabilities	(1,245,565)	(2,082,154)
Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	290,842	825,384
Liabilities	(267,586)	(629,132)
Net Assets	23,256	196,252
LC Trust | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	77,496	201,696
Liabilities	(75,166)	(199,520)
Net Assets	2,330	2,176
Consolidated trusts | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	184,341	43,300
Liabilities	(173,726)	(40,687)
Net Assets	10,615	2,613
Warehouse Credit Facilities | Consolidated VIEs
Variable Interest Entity [Line Items]
Assets	29,005	580,388
Liabilities	(18,694)	(388,925)
Net Assets	$ 10,311	$ 191,463

Securitizations and Variable _5

Securitizations and Variable Interest Entities - Unconsolidated VIEs with Significant Continuing Involvement (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Variable Interest Entity [Line Items]
Assets	$ 1,979,457	$ 2,982,341
Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	3,852,395	4,529,346
Net Assets	206,216	273,110
Maximum Exposure to Loss	206,216	273,110
Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	1,502,665	1,909,219
Net Assets	79,240	113,011
Maximum Exposure to Loss	79,240	113,011
Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	2,315,354	2,585,957
Net Assets	119,201	152,357
Maximum Exposure to Loss	119,201	152,357
Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	34,376	34,170
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]
Assets	167,721	220,135
Maximum Exposure to Loss	167,721	220,135
Securities Available for Sale | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	67,415	93,881
Maximum Exposure to Loss	67,415	93,881
Securities Available for Sale | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	100,306	126,254
Maximum Exposure to Loss	100,306	126,254
Securities Available for Sale | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	0	0
Maximum Exposure to Loss	0	0
Accrued Interest Receivable | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	92	877
Maximum Exposure to Loss	92	877
Accrued Interest Receivable | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	51	362
Maximum Exposure to Loss	51	362
Accrued Interest Receivable | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	41	515
Maximum Exposure to Loss	41	515
Accrued Interest Receivable | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	0	0
Maximum Exposure to Loss	0	0
Other Assets | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	38,403	52,098
Maximum Exposure to Loss	38,403	52,098
Other Assets | Unconsolidated Trusts | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	11,774	18,768
Maximum Exposure to Loss	11,774	18,768
Other Assets | Certificate Program | Unconsolidated VIEs
Variable Interest Entity [Line Items]
Assets	18,854	25,588
Maximum Exposure to Loss	18,854	25,588
Other Assets | Investment Fund | Unconsolidated VIEs
Variable Interest Entity [Line Items]
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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 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 (1)	$ 0	$ 328,173	$ 255,203	$ 1,180,048
Net gains (losses) recognized from loans securitized or sold	0	360	(20)	4,114
Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement	0	15,464	12,707	57,379
Cash proceeds from loans securitized or sold	0	298,099	237,764	864,949
Cash proceeds from servicing and other administrative fees on loans securitized or sold	4,176	4,545	14,118	12,324
Cash proceeds for interest received on senior securities and subordinated securities	983	1,283	3,792	3,917
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 (1)	233,852	772,734	871,489	1,797,174
Net gains (losses) recognized from loans securitized or sold	1,563	9,174	7,159	20,641
Fair value of asset-backed senior and subordinated securities, and CLUB Certificate asset-backed securities retained upon settlement	0	37,803	31,423	88,371
Cash proceeds from loans securitized or sold	0	659,755	598,515	1,629,967
Cash proceeds from servicing and other administrative fees on loans securitized or sold	6,697	4,802	20,919	11,396
Cash proceeds for interest received on senior securities and subordinated securities	$ 1,847	2,045	6,740	5,280
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		21,800	23,000	60,000
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		27,100	18,300	77,700
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		$ 4,300	$ 2,900	$ 8,100

Securitizations and Variable _7

Securitizations and Variable Interest Entities - Off-balance Sheet Loans Sold or Securitized (Details) - Off-balance Sheet Loans - USD ($) $ in Millions	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Outstanding principal balance	$ 3,800	$ 4,400
Off-balance sheet loans, principal amount outstanding, 31 days or more past due	$ 102.7	$ 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		Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Loans held for investment	[1]	$ 708,274	$ 1,079,315
Loans held for investment by the Company	[1]	59,099	43,693
Loans held for sale by the Company	[1]	180,801	722,355
Securities available for sale at fair value		187,375	270,927
Servicing assets		59,538	89,680
Total assets		1,195,087	2,205,970
Notes, certificates and secured borrowings	[1]	708,597	1,081,466
Payable to Structured Program note and certificate holders	[1]	173,410	40,610
Deferred revenue		4,154
Loan trailing fee liability		8,258	11,099
Total liabilities		894,419	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		102,015	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		65,706	89,706
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		6,999	9,274
Corporate debt securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		6,651	14,343
Other asset-backed securities
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		3,804	12,080
Certificates of deposit
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		2,200	13,100
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 | 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 | 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 | 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 | 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 | 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		103,674	160,131
Servicing assets		0	0
Total assets		103,674	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		84,020	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 | Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value		6,999	9,274
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		6,651	14,343
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		3,804	12,080
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		2,200	13,100
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		708,274	1,079,315
Loans held for investment by the Company		59,099	43,693
Loans held for sale by the Company		180,801	722,355
Securities available for sale at fair value		83,701	110,796
Servicing assets		59,538	89,680
Total assets		1,091,413	2,045,839
Notes, certificates and secured borrowings		708,597	1,081,466
Payable to Structured Program note and certificate holders		173,410	40,610
Deferred revenue		4,154
Loan trailing fee liability		8,258	11,099
Total liabilities		894,419	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		17,995	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		65,706	89,706
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 | 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 | 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 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 | 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)	9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 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)	0.62%
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)	0.62%		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)	0.62%		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	10.60%	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	7.70%		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	15.10%		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	4.50%		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	27.20%		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	12.80%		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	4.60%	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	27.20%	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	14.80%	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	4.30%		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	28.00%		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	11.70%		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	27.50%		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	35.20%		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	31.30%		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	27.50%	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	38.90%	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	31.70%	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	27.60%		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	35.60%		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	30.70%		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	9.70%		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	13.30%		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	10.00%		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	5.00%		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	27.00%		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	10.30%		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	27.60%		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	39.70%		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	30.80%		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	2.20%		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	24.40%		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	8.40%		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	5.30%		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	29.80%		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	18.60%		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	6.30%		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	31.00%		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	25.30%		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		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Notes and Certificates
Fair Value, Transfers			$ 0		$ 0
Loans Held for Investment
Loans
Outstanding Principal Balance, Beginning	$ 851,476	$ 1,605,257	1,148,888	$ 2,013,438	2,013,438
Valuation Adjustment, Beginning	(66,248)	(92,273)	(69,573)	(130,187)	(130,187)
Fair Value, Beginning	785,228	1,512,984	1,079,315	1,883,251	1,883,251
Outstanding Principal Balance, Purchases	77,389	162,402	237,283	522,248
Valuation Adjustment, Purchases	0	0	0	(21)
Fair Value, Purchases	77,389	162,402	237,283	522,227
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	(324)	(122,515)	(17,903)	(122,967)
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	0
Fair Value, Transfers from loans to loans held for sale	(324)	(122,515)	(17,903)	(122,967)
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	(159,753)	(286,106)	(547,042)	(944,469)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(159,753)	(286,106)	(547,042)	(944,469)
Outstanding Principal Balance, Charge-offs	(12,218)	(42,433)	(64,656)	(151,645)
Charge-offs, net of recoveries	2,049	29,029	33,562	110,705
Fair Value, Charge-offs	(10,169)	(13,404)	(31,094)	(40,940)
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	15,903	(15,882)	(12,285)	(59,623)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	15,903	(15,882)	(12,285)	(59,623)
Outstanding Principal Balance, Ending	756,570	1,316,605	756,570	1,316,605	1,148,888
Valuation Adjustment, Ending	(48,296)	(79,126)	(48,296)	(79,126)	(69,573)
Fair Value, Ending	708,274	1,237,479	708,274	1,237,479	1,079,315
Loans Held For Sale
Loans
Outstanding Principal Balance, Beginning	0	0	0	0	0
Valuation Adjustment, Beginning	0	0	0	0	0
Fair Value, Beginning	0	0	0	0	0
Outstanding Principal Balance, Purchases	492,440	697,833	1,015,028	1,812,984
Valuation Adjustment, Purchases	(24,533)	(9,080)	(27,456)	(9,548)
Fair Value, Purchases	467,907	688,753	987,572	1,803,436
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	0	122,330	17,413	122,330
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	122,330	17,413	122,330
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	(492,440)	(820,163)	(1,032,441)	(1,935,314)
Valuation Adjustment, Sales	29,902	8,814	33,365	8,034
Fair Value, Sales	(462,538)	(811,349)	(999,076)	(1,927,280)
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	(5,369)	266	(5,909)	1,514
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	(5,369)	266	(5,909)	1,514
Outstanding Principal Balance, Ending	0	0	0	0	0
Valuation Adjustment, Ending	0	0	0	0	0
Fair Value, Ending	0	0	0	0	0
Loans Invested in by Company
Loans
Outstanding Principal Balance, Beginning	743,421	464,337	794,436	873,233	873,233
Valuation Adjustment, Beginning	(90,771)	(24,227)	(28,388)	(30,629)	(30,629)
Fair Value, Beginning	652,650	440,110	766,048	842,604	842,604
Outstanding Principal Balance, Purchases	27,957	1,532,707	1,431,527	3,566,428
Valuation Adjustment, Purchases	(195)	(632)	(1,200)	(1,626)
Fair Value, Purchases	27,762	1,532,075	1,430,327	3,564,802
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	324	185	490	637
Valuation Adjustment, Transfers from loans to loans held for sale	0	0	0	0
Fair Value, Transfers from loans to loans held for sale	324	185	490	637
Outstanding Principal Balance, Sales	(442,744)	(1,181,739)	(1,726,678)	(3,477,485)
Valuation Adjustment, Sales	51,220	24,093	82,076	86,387
Fair Value, Sales	(391,524)	(1,157,646)	(1,644,602)	(3,391,098)
Outstanding Principal Balance, Principal payments and retirements	(52,644)	(66,654)	(207,968)	(199,987)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(52,644)	(66,654)	(207,968)	(199,987)
Outstanding Principal Balance, Charge-offs	(7,333)	(7,889)	(22,826)	(21,879)
Charge-offs, net of recoveries	6,393	6,619	18,701	19,429
Fair Value, Charge-offs	(940)	(1,270)	(4,125)	(2,450)
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	4,272	(32,419)	(100,270)	(100,127)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	4,272	(32,419)	(100,270)	(100,127)
Outstanding Principal Balance, Ending	268,981	740,947	268,981	740,947	794,436
Valuation Adjustment, Ending	(29,081)	(26,566)	(29,081)	(26,566)	(28,388)
Fair Value, Ending	239,900	714,381	239,900	714,381	766,048
Loans Invested in by Company | Loans Held for Investment
Loans
Outstanding Principal Balance, Beginning	75,159	6,550	47,042	3,518	3,518
Valuation Adjustment, Beginning	(9,602)	(1,523)	(3,349)	(935)	(935)
Fair Value, Beginning	65,557	5,027	43,693	2,583	2,583
Outstanding Principal Balance, Purchases	201	791	1,314	1,961
Valuation Adjustment, Purchases	(189)	(632)	(1,194)	(1,626)
Fair Value, Purchases	12	159	120	335
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	(155)	304	43,170	5,254
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	(155)	304	43,170	3,783
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	(8,205)	(840)	(21,838)	(2,295)
Valuation Adjustment, Principal payments	0	0	0	0
Fair Value, Principal payments and retirements	(8,205)	(840)	(21,838)	(2,295)
Outstanding Principal Balance, Charge-offs	(768)	(1,209)	(3,456)	(2,842)
Charge-offs, net of recoveries	245	697	756	1,544
Fair Value, Charge-offs	(523)	(512)	(2,700)	(1,298)
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	2,413	73	(3,346)	1,103
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	2,413	73	(3,346)	1,103
Outstanding Principal Balance, Ending	66,232	5,596	66,232	5,596	47,042
Valuation Adjustment, Ending	(7,133)	(1,385)	(7,133)	(1,385)	(3,349)
Fair Value, Ending	59,099	4,211	59,099	4,211	43,693
Loans Invested in by Company | Loans Held For Sale
Loans
Outstanding Principal Balance, Beginning	668,262	457,787	747,394	869,715	869,715
Valuation Adjustment, Beginning	(81,169)	(22,704)	(25,039)	(29,694)	(29,694)
Fair Value, Beginning	587,093	435,083	722,355	840,021	840,021
Outstanding Principal Balance, Purchases	27,756	1,531,916	1,430,213	3,564,467
Valuation Adjustment, Purchases	(6)	0	(6)	0
Fair Value, Purchases	27,750	1,531,916	1,430,207	3,564,467
Outstanding Principal Balance, Transfers (to) from loans held for investment and/or loans held for sale	479	(119)	(42,680)	(4,617)
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	479	(119)	(42,680)	(3,146)
Outstanding Principal Balance, Sales	(442,744)	(1,181,739)	(1,726,678)	(3,477,485)
Valuation Adjustment, Sales	51,220	24,093	82,076	86,387
Fair Value, Sales	(391,524)	(1,157,646)	(1,644,602)	(3,391,098)
Outstanding Principal Balance, Principal payments and retirements	(44,439)	(65,814)	(186,130)	(197,692)
Valuation Adjustment, Principal payments	0	0		0
Fair Value, Principal payments and retirements	(44,439)	(65,814)	(186,130)	(197,692)
Outstanding Principal Balance, Charge-offs	(6,565)	(6,680)	(19,370)	(19,037)
Charge-offs, net of recoveries	6,148	5,922	17,945	17,885
Fair Value, Charge-offs	(417)	(758)	(1,425)	(1,152)
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	1,859	(32,492)	(96,924)	(101,230)
Fair Value, Measurement with Unobservable Inputs Reconciliation, Recurring Basis, Asset, Gain (Loss) Included in Earnings	1,859	(32,492)	(96,924)	(101,230)
Outstanding Principal Balance, Ending	202,749	735,351	202,749	735,351	747,394
Valuation Adjustment, Ending	(21,948)	(25,181)	(21,948)	(25,181)	(25,039)
Fair Value, Ending	180,801	710,170	180,801	710,170	722,355
Notes, Certificates and Secured Borrowings
Notes and Certificates
Outstanding Principal Balance, Beginning	851,476	1,605,257	1,148,888	2,033,258	2,033,258
Valuation Adjustment, Beginning	(65,548)	(87,306)	(67,422)	(127,383)	(127,383)
Fair value at beginning of period	785,928	1,517,951	1,081,466	1,905,875	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	77,389	162,402	237,283	522,248
Valuation Adjustment, Issuances	0	0	0	0
Fair Value, Issuances	77,389	162,402	237,283	522,248
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	(160,077)	(408,621)	(564,945)	(1,087,256)
Valuation Adjustment, Principal payments and retirements	0	0	0	14
Fair Value, Principal payments and retirements	(160,077)	(408,621)	(564,945)	(1,087,242)
Outstanding Principal Balance, Charge-offs	(12,218)	(42,433)	(64,656)	(151,645)
Valuation Adjustment, Charge-offs	1,358	27,347	31,345	109,012
Fair Value, Charge-offs	(10,860)	(15,086)	(33,311)	(42,633)
Outstanding Principal Balance, Change in fair value recorded in earnings	0	0	0	0
Valuation Adjustment, Change in fair value recorded in earnings	16,217	(15,688)	(11,896)	(57,290)
Fair Value, Change in fair value recorded in earnings	16,217	(15,688)	(11,896)	(57,290)
Outstanding Principal Balance, Ending	756,570	1,316,605	756,570	1,316,605	1,148,888
Valuation Adjustment, Ending	(47,973)	(75,647)	(47,973)	(75,647)	(67,422)
Fair value at end of period	$ 708,597	$ 1,240,958	$ 708,597	$ 1,240,958	$ 1,081,466

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period			$ 89,680
Fair value at end of period	$ 59,538		59,538
Fair Value, Measurements, Recurring
Servicing Assets, Changes in fair value due to:
Fair value at beginning of period	65,515	$ 78,714	89,680	$ 64,006
Issuances	7,783	21,042	27,119	55,588
Changes in fair value, included in servicing fees	(13,376)	(16,849)	(48,046)	(39,954)
Other net changes included in deferred revenue	(384)	343	(9,215)	3,610
Fair value at end of period	59,538	83,250	59,538	83,250
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	95,590	95,821	110,796	60,279
Additions	446	31,597	26,458	85,944
Redemptions	(426)	(8,861)	(802)	(8,861)
Transfers out of Level 3	(517)	0	(517)	0
Cash received	(20,297)	(13,385)	(54,371)	(31,791)
Change in unrealized gain (loss)	3,413	(768)	288	140
Accrued interest	1,823	0	5,649	0
Provision for credit loss expense	3,669	0	(3,800)	0
Other-than-temporary impairment	0	(1,175)	0	(2,482)
Fair value at end of period	$ 83,701	$ 103,229	$ 83,701	$ 103,229

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	9 Months Ended	12 Months Ended
	Sep. 30, 2020	Dec. 31, 2019	Jun. 30, 2020	Sep. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Securities available for sale at fair value	$ 187,375	$ 270,927
Servicing assets	59,538	89,680
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	59,538	89,680	$ 65,515	$ 83,250	$ 78,714	$ 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	83,701	110,796
Servicing assets	59,538	89,680
Level 3 Inputs | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Servicing assets	59,538	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	84,019	109,339
Discount rates, impact of 100 basis point increase	(729)	(1,050)
Discount rates, impact of 200 basis point increase	(1,437)	(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	17,996	$ 21,090
Discount rates, impact of 100 basis point increase	(179)	(300)
Discount rates, impact of 200 basis point increase	(385)	(513)
Expected credit loss on rates on underlying loans, 10% adverse change	(1,958)	(2,162)
Expected credit loss on rates on underlying loans, 20% adverse change	(3,968)	(4,273)
Expected prepayment rates, 10% adverse change	(776)	(814)
Expected prepayment rates, 20% adverse change	(1,612)	$ (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	65,706	$ 89,706
Discount rates, impact of 100 basis point increase	(550)	(823)
Discount rates, impact of 200 basis point increase	(1,088)	(1,627)
Expected credit loss on rates on underlying loans, 10% adverse change	(2,004)	(2,163)
Expected credit loss on rates on underlying loans, 20% adverse change	(4,035)	(4,311)
Expected prepayment rates, 10% adverse change	(792)	(654)
Expected prepayment rates, 20% adverse change	$ (1,597)	$ (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	1 year 1 month 6 days
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average estimated life of contractual repurchase agreements	10 months 24 days
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Weighted-average estimated life of contractual repurchase agreements	1 year 6 months
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	$ 239,900	$ 766,048
Discount rates, impact of 100 basis point increase	(2,564)	(9,806)
Discount rates, impact of 200 basis point increase	(5,083)	(19,410)
Expected credit loss rates on underlying loans, 10% adverse change	(2,938)	(9,558)
Expected credit loss rates on underlying loans, 20% adverse change	(5,937)	(19,136)
Expected prepayment rates, 10% adverse change	(694)	(2,429)
Expected prepayment rates, 20% adverse change	$ (1,401)	$ (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 2 months 12 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	9.70%	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	5.00%	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	27.60%	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	13.30%	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	27.00%	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	39.70%	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	$ (481)	$ (680)
Discount rates, impact of 200 basis point increase	(962)	(1,360)
Expected credit loss on rates on underlying loans, 10% adverse change	(285)	(582)
Expected credit loss on rates on underlying loans, 20% adverse change	(570)	(1,165)
Expected prepayment rates, 10% adverse change	(2,246)	(2,962)
Expected prepayment rates, 20% adverse change	$ (4,492)	$ (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	4.50%	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	27.50%	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	27.20%	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	35.20%	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	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset transfers, net			$ 0		$ 0
Liability transfers, net			$ 0		$ 0
Change in rate	0.10%		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			0.62%		0.66%
Assets, servicing rate increase by .1%	$ (7,993)		$ (7,993)		$ (13,978)
Assets, servicing rate decrease by .1%	7,994		7,994		$ 13,979
Asset-backed subordinated securities related to Company-sponsored Structured Program transactions
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Transfers out of Level 3	$ (517)	$ 0	$ (517)	$ 0

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Fair value at beginning of period	$ 9,213	$ 10,224	$ 11,099	$ 10,010
Issuances	356	2,152	2,322	5,552
Cash payment of Loan Trailing Fee	(1,829)	(2,015)	(5,726)	(5,920)
Change in fair value, included in Origination and Servicing	518	222	563	941
Fair value at end of period	$ 8,258	$ 10,583	$ 8,258	$ 10,583

Fair Value of Assets and Lia_10

Fair Value of Assets and Liabilities - Not Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	$ 1,195,087	$ 2,205,970
Total liabilities	894,419	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	103,674	160,131
Total liabilities	0	0
Level 3 Inputs
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total assets	1,091,413	2,045,839
Total liabilities	894,419	1,133,175
Carrying Amount
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	445,180	243,779
Restricted cash (1)	98,787	243,343
Servicer reserve receivable	30	73
Deposits	892	953
Total assets	544,889	488,148
Accrued expenses and other liabilities	15,552	24,899
Accounts payable	3,382	10,855
Payables to investors	35,068	97,530
Credit facilities and securities sold under repurchase agreements	120,159	587,453
Total liabilities	174,161	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	445,180	243,779
Restricted cash (1)	98,787	243,343
Servicer reserve receivable	30	73
Deposits	892	953
Total assets	544,889	488,148
Accrued expenses and other liabilities	0	0
Accounts payable	3,382	10,855
Payables to investors	35,068	97,530
Credit facilities and securities sold under repurchase agreements	54,954	77,143
Total liabilities	93,404	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	15,552	24,899
Accounts payable	0	0
Payables to investors	0	0
Credit facilities and securities sold under repurchase agreements	65,205	510,310
Total liabilities	80,757	535,209
Balance at Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	445,180	243,779
Restricted cash (1)	98,787	243,343
Servicer reserve receivable	30	73
Deposits	892	953
Total assets	544,889	488,148
Accrued expenses and other liabilities	15,552	24,899
Accounts payable	3,382	10,855
Payables to investors	35,068	97,530
Credit facilities and securities sold under repurchase agreements	120,159	587,453
Total liabilities	$ 174,161	$ 720,737

Property, Equipment and Softw_3

Property, Equipment and Software, Net (Detail) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Internally developed software	$ 116,378	$ 117,510
Leasehold improvements	35,053	39,315
Computer equipment	27,034	26,669
Purchased software	17,926	11,846
Furniture and fixtures	8,203	9,406
Construction in progress	3,084	4,937
Total property, equipment and software	207,678	209,683
Accumulated depreciation and amortization	(106,633)	(95,313)
Total property, equipment and software, net	101,045	114,370
Construction in Progress
Property, Plant and Equipment [Line Items]
Internally developed software	$ 14,500	$ 21,300

Property, Equipment and Softw_4

Property, Equipment and Software, Net - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense			$ 41,832	$ 44,034
Property, Equipment and Software
Property, Plant and Equipment [Line Items]
Depreciation and amortization expense	$ 11,400	$ 12,800	34,800	38,800
Leasehold Improvements and Furniture and Fixtures
Property, Plant and Equipment [Line Items]
Impairment expense	400	0	1,900	0
Internally Developed Software
Property, Plant and Equipment [Line Items]
Impairment expense	$ 200	$ 200	$ 4,700	$ 2,500

Other Assets (Detail)

Other Assets (Detail) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Other Assets [Abstract]
Other assets	[1]	$ 103,625	$ 143,668
Loan servicing assets, at fair value
Other Assets [Abstract]
Other assets		59,538	89,680
Accounts receivable
Other Assets [Abstract]
Other assets		11,359	19,017
Prepaid expenses
Other Assets [Abstract]
Other assets		11,893	14,862
Other investments
Other Assets [Abstract]
Other assets		8,275	8,242
Deferred financing costs
Other Assets [Abstract]
Other assets		87	1,484
Other
Other Assets [Abstract]
Other assets		12,473	10,383
Loan Servicing Rights
Other Assets [Abstract]
Principal balance of underlying loan servicing rights		$ 11,200,000	$ 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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible assets, net	$ 12,180,000		$ 12,180,000		$ 14,549,000
Amortization expense	800,000	$ 800,000	2,400,000	$ 2,700,000
Impairment of intangible assets	$ 0	$ 0	$ 0	$ 0

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities (Detail) - USD ($) $ in Thousands		Sep. 30, 2020	Dec. 31, 2019
Payables and Accruals [Abstract]
Transaction fee refund reserve		$ 16,207	$ 25,541
Contingent liabilities		22,342	16,000
Accrued expenses		12,873	36,797
Accrued compensation		22,629	30,484
Loan trailing fee liability, at fair value		8,258	11,099
Deferred revenue		4,313	13,688
Other		14,294	9,027
Total accrued expenses and other liabilities	[1]	$ 100,916	$ 142,636
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Debt (Details)

Debt (Details)		3 Months Ended	9 Months Ended
		Sep. 30, 2020USD ($)credit_facility	Sep. 30, 2020USD ($)credit_facility	Sep. 30, 2019USD ($)	Mar. 31, 2021	Nov. 16, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Number of warehouse credit facilities | credit_facility		2	2
Warehouse facility repaid and terminated			$ 1,572,569,000	$ 1,801,600,000
Payable to Structured Program note and certificate holders	[1]	$ 173,410,000	173,410,000				$ 40,610,000
Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		0	$ 0				60,000,000
Maximum borrowing capacity								$ 120,000,000
Minimum
Debt Instrument [Line Items]
Weighted-average estimated life of contractual repurchase agreements			10 months 24 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]
Weighted-average estimated life of contractual repurchase agreements			1 year 6 months
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%
Personal Loan Warehouse Credit Facility, Commitment Termination Date of October 2020 | Revolving Credit Facility
Debt Instrument [Line Items]
Warehouse facility repaid and terminated		250,000,000
Personal Loan and Auto Loan Warehouse Credit Facilities | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding under credit facility		18,500,000	$ 18,500,000				387,300,000
Restricted cash		$ 2,200,000	$ 2,200,000				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 | 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 Facilities with Associated Commitment Termination Date of December 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%	50.00%
Debt outstanding under credit facility		$ 18,500,000	$ 18,500,000
Maximum borrowing capacity		100,000,000	100,000,000
Payables to Securitization Holders
Debt Instrument [Line Items]
Restricted cash		13,500,000	$ 13,500,000				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		26,300,000	$ 26,300,000				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		101,700,000	101,700,000				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		39,000,000	39,000,000
Credit Facilities and Securities Sold under Repurchase Agreements | Contractual Repurchase Date in May 2020
Debt Instrument [Line Items]
Aggregate debt outstanding under repurchase transactions		62,700,000	62,700,000
Personal Whole Loan Securitization
Debt Instrument [Line Items]
Principal derecognized from loans securitized or sold		244,400,000	244,400,000
Assets Sold under Repurchase Agreements
Debt Instrument [Line Items]
Underlying assets pledged as collateral		127,400,000	127,400,000				174,800,000
Third-party Investor | Personal Whole Loan Securitization
Debt Instrument [Line Items]
Proceeds from the sale of certificate participations and securities sold to third-party investors		228,700,000	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		170,000,000	170,000,000
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		$ 173,400,000	$ 173,400,000				$ 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
Credit facility, maximum advance rate against borrowing base, step down (percent)					50.00%
[1]	Includes amounts in consolidated variable interest entities (VIEs) presented separately in the table below.

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Mar. 20, 2020	Feb. 29, 2020	Mar. 31, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Preferred stock, authorized (shares)				10,000,000
Preferred stock, par value ($ per share)				$ 0.01
Permissible transfer, maximum receipt of any class of voting securities (percent)				2.00%
Permissible transfer, maximum control of transferee of Company voting securities, prior to transfer (percent)				50.00%
One-time cash payment	$ 50,200,000	$ 50,200,000
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			$ 19,600,000
Series A Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (shares)		1,200,000		1,200,000		1,200,000
Preferred stock, par value ($ per share)				$ 0.01		$ 0.01
Preferred stock, outstanding (shares)				149,904		0
Convertible preferred stock, issued upon conversion (shares)				100
Ownership maximum per holder after conversion of preferred shares (percent)				9.90%
Preferred stock liquidation preference ($ per share)				$ 0.01
Preferred stock, issued (shares)				149,904		0
Conversion of stock, shares issued		195,628
Share price ($ per share)				$ 4,800
Series B Preferred Stock
Class of Stock [Line Items]
Preferred stock, authorized (shares)		600,000
Preferred stock, outstanding (shares)				0
Preferred stock liquidation preference ($ per share)				$ 0.001
Preferred stock, issued (shares)				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				$ 50,204,000	$ 0
Retirement of treasury stock (in shares)			467,049
Retirement of treasury stock				4,000
Preferred Stock
Class of Stock [Line Items]
Deemed dividend			$ 50,200,000	(50,204,000)
Other deemed dividends				$ 0

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		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 15,122	$ 18,095	$ 47,455	$ 56,898
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	880	1,505	3,274	4,616
Origination and servicing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	721	852	2,079	2,622
Engineering and product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	3,295	4,737	10,578	15,443
Other general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	10,226	11,001	31,524	34,217
RSUs and PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	14,986	17,543	46,667	54,587
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	136	552	788	1,827
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 0	$ 0	$ 484

Employee Incentive Plans - Addi

Employee Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 15,122	$ 18,095	$ 47,455	$ 56,898
Internally Developed Software
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense, capitalized amount	1,200	1,400	$ 4,000	5,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			10,622,273
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Aggregate Intrinsic Value, Nonvested1			$ 99,300
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	136,100		$ 136,100
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years 10 months 24 days
PBRSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (shares)			1,424,438
Share-based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount	6,300		$ 6,300
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition			2 years 4 months 24 days
PBRSU performance period			1 year
Stock-based compensation expense	700	1,000	$ 1,800	3,500
ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 0	$ 0	$ 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)	9 Months Ended
	Sep. 30, 2020$ / sharesshares
PBRSUs
Number of Shares (shares)
Unvested, beginning (shares) | shares	471,589
Granted (shares) | shares	1,424,438
Vested (shares) | shares	(142,940)
Forfeited/expired (shares) | shares	(272,760)
Unvested, ending (shares) | shares	1,480,327
Weighted- Average Grant Date Fair Value ($ per share)
Unvested, beginning ($ per share) | $ / shares	$ 16.94
Granted ($ per share) | $ / shares	4.67
Vested ($ per share) | $ / shares	17.59
Forfeited/expired ($ per share) | $ / shares	13.85
Unvested, ending ($ per share) | $ / shares	$ 5.60
RSUs
Number of Shares (shares)
Unvested, beginning (shares) | shares	9,597,404
Granted (shares) | shares	10,622,273
Vested (shares) | shares	(3,121,385)
Forfeited/expired (shares) | shares	(4,758,401)
Unvested, ending (shares) | shares	12,339,891
Weighted- Average Grant Date Fair Value ($ per share)
Unvested, beginning ($ per share) | $ / shares	$ 16.78
Granted ($ per share) | $ / shares	9.34
Vested ($ per share) | $ / shares	16.18
Forfeited/expired ($ per share) | $ / shares	13.71
Unvested, ending ($ per share) | $ / shares	$ 11.72

Income Taxes Income Taxes (Deta

Income Taxes Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Income Tax Disclosure [Abstract]
Income tax expense (benefit)	$ (74)	$ 97	$ 245	$ (341)

Leases (Details)

Leases (Details) $ in Millions	1 Months Ended	3 Months Ended		9 Months Ended
	Jun. 30, 2020USD ($)lease_termination_option	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)
Lessee, Lease, Description [Line Items]
Variable lease costs		$ 0.4	$ 0.4	$ 1.1	$ 1.2
Lease renewal term		15 years		15 years
Security deposit		$ 0.8		$ 0.8
Letters of credit outstanding, amount		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		$ 0.9	$ 0	$ 3.6	$ 0
Minimum
Lessee, Lease, Description [Line Items]
Lease term		1 year		1 year
Sublease term				1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease term		9 years		9 years
Sublease term				2 years

Leases - Supplemental Balance S

Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Operating lease assets	$ 76,226	$ 93,485
Operating lease liabilities	$ 98,204	$ 112,344

Leases - Net Lease Costs (Detai

Leases - Net Lease Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Lessee, Lease, Description [Line Items]
Net lease costs	$ (2,602)	$ (3,442)	$ (8,724)	$ (11,590)
Variable lease costs	400	400	1,100	1,200
Other general and administrative
Lessee, Lease, Description [Line Items]
Operating lease costs	(4,140)	(4,617)	(13,333)	(14,788)
Other revenue
Lessee, Lease, Description [Line Items]
Sublease revenue	$ 1,538	$ 1,175	$ 4,609	$ 3,198

Leases - Supplemental Cash Flow

Leases - Supplemental Cash Flow Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Leases [Abstract]
Leased assets obtained in exchange for new and amended operating lease liabilities	$ 0	$ 0	$ 84	$ 15,277

Leases - Future Operating Lease

Leases - Future Operating Lease Payments and Sublease Revenue (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Leases [Abstract]
Remainder of 2020	$ 4,696
2021	19,271
2022	14,134
2023	10,761
2024	11,072
Thereafter	68,383
Total lease payments (1)	128,317
Discount effect	30,113
Present value of future minimum lease payments	98,204	$ 112,344
Lessor, Operating Lease, Payments, Fiscal Year Maturity [Abstract]
Remainder of 2020	(1,965)
2021	(6,767)
2022	(2,918)
2023	0
2024	0
Thereafter	0
Total lease payments (1)	(11,650)
Operating Lease Payments, Net [Abstract]
Remainder of 2020	2,731
2021	12,504
2022	11,216
2023	10,761
2024	11,072
Thereafter	68,383
Total lease payments (1)	$ 116,667
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)	Sep. 30, 2020
Leases [Abstract]
Weighted-average remaining lease term (in years)	9 years 1 month 2 days
Weighted-average discount rate (percent)	5.76%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - USD ($)	Feb. 18, 2020	Oct. 31, 2020	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Commitments and Contingencies [Line Items]
Loan purchase obligation period				2 days
Contingent loan purchase commitment limit			$ 8,500,000	$ 8,500,000		$ 91,300,000
Commitment repurchases			414,000	2,800,000	$ 4,200,000
Deposit			9,000,000	9,000,000		9,000,000
Loan purchase obligation				28,900,000
Fair value			4,500,000	4,500,000		45,700,000
Contingent liabilities			22,342,000	22,342,000		$ 16,000,000
Subsequent Event
Commitments and Contingencies [Line Items]
Commitment repurchases		$ 0
Radius Bancorp, Inc. Merger
Commitments and Contingencies [Line Items]
Value of cash and stock transaction	$ 185,000,000
Contingent purchase price and expense adjustments	$ 22,000,000
Acquisition-related Agreements
Commitments and Contingencies [Line Items]
Contingent purchase price and expense adjustments			$ 3,000,000	$ 3,000,000
Regulatory Examinations and Actions Relating to the Company's Business Practices and Licensing
Commitments and Contingencies [Line Items]
APR safe harbor set forth in other settlements by the State of Colorado (percent)				36.00%

Restructuring Costs - Additiona

Restructuring Costs - Additional Information (Details) - USD ($) $ in Thousands	Apr. 21, 2020	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 753			$ 17,789
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		(500)			8,000
Restructuring costs paid				$ 7,900
2020 Restructuring Plan | Lease Expenses and Impairment
Restructuring Cost and Reserve [Line Items]
Restructuring costs		1,300			5,600
2020 Restructuring Plan | Impairment of Internally Developed Software
Restructuring Cost and Reserve [Line Items]
Restructuring costs		0			4,200
2020 Restructuring Plan | Operating Expenses
Restructuring Cost and Reserve [Line Items]
Restructuring costs		800	$ 0		17,800	$ 0
2020 Restructuring Plan | Accrued Expenses and Other Liabilities
Restructuring Cost and Reserve [Line Items]
Restructuring Reserve		$ 100		$ 100	$ 100

Restructuring Costs (Details)

Restructuring Costs (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 753	$ 17,789
Sales and marketing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(108)	1,271
Origination and servicing
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(113)	793
Engineering and product development
Restructuring Cost and Reserve [Line Items]
Restructuring costs	(227)	7,245
Other general and administrative
Restructuring Cost and Reserve [Line Items]
Restructuring costs	$ 1,201	$ 8,480

Segment Reporting (Details)

Segment Reporting (Details)	9 Months Ended
	Sep. 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	Sep. 30, 2020	Sep. 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			$ 140	$ 684
Related Party Fund | Investor fees - Funds and SMAs | Affiliated Entity
Related Party Transaction [Line Items]
Income			52	74
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