6.9% on 334 notes. Been in since 2012. Manually selected and shooting for higher credit borrowers. Got burned the one time I bought secondary notes. Add money about once a year. Often can't find enough notes with the criteria I like, so I'm always sitting on a bit of cash in the account.
Here are some additional thoughts regarding my lending club experience: I lost my rear on the "purchased" loans. That was the end of that. I'm assuming some of the institutional buyers have robo screens that analyze potential defaults and list the notes. We would just be the lambs coming in for slaughter.
The tax "hassle" got better this year. 5th year filing the returns plus their reporting improves. That's less of an issue.
I think MMM's returns are overstated because its still a young portfolio, not mature portfolio. A note is generally less likely to default really early into a loan and really late into a loan. If you keep adding to a portfolio, your average age of loan is shorter. My returns dropped from the 10% range to the 7's as soon as the average duration in the portfolio leveled off.
As to add/withdraw, that's my constant question. When the market was near its top back in Q4, I was adding to Lending Club. My favorite companies were paying 2-3% dividend yields with the possibility of some short-term loss based on the market runup. In January, I was buying as much as I could when these companies fell 10-20% in price. That's realistically my alternate investment, higher yielding, stable companies and I think 50% of the yield compared to Lending Club is my breakpoint: Better tax treatment, dividend that generally goes up each year, and some capital appreciation potential in exchange for a lower cash return today.
Now the market has run back up and I'm here chunking a little more into Lending Club - For me I'm at the point of viewing it as an extension of my taxable account.
The NSR portfolio analytics were interesting to me, I will only buy C,D,E notes based on my experience. Lost too much money relative to return on the others