Lending Club has finally introduced a metric called the Adjusted Net Annualized Return. This is a more realistic view of your rate of return once all of your loans mature. It takes into account the probability of default of your loans, based on how late they are. This more accurate measure is about 2% lower than the NAR which every educated LC investor has known for years. The original Net Annualized Return measurement should be ignored.
NAR (unreasonably optimistic)
ANAR (much more probable forecast)