Comments on: Lending Club Review http://blog.creditkarma.com/reviews/lending-club-review/ A blog about the trends in credit and credit related industries Wed, 28 Jul 2010 19:22:08 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Money Granola http://blog.creditkarma.com/reviews/lending-club-review/comment-page-1/#comment-1534 Money Granola Thu, 23 Apr 2009 00:29:15 +0000 http://blog.creditkarma.com/?p=1315#comment-1534 Ryan, there are stats available at http://www.lendingclubstats.com/ and https://www.lendingclub.com/info/statistics.action Lending Club's numbers look very good. That said, because the service is so new, any stat must be viewed skeptically. Prosper's stats looked good too initially. The site needs to be around longer for the data to be trustworthy. Ryan, there are stats available at http://www.lendingclubstats.com/ and https://www.lendingclub.com/info/statistics.action

Lending Club’s numbers look very good. That said, because the service is so new, any stat must be viewed skeptically. Prosper’s stats looked good too initially. The site needs to be around longer for the data to be trustworthy.

]]> By: Ryan Adami http://blog.creditkarma.com/reviews/lending-club-review/comment-page-1/#comment-1533 Ryan Adami Wed, 22 Apr 2009 17:39:12 +0000 http://blog.creditkarma.com/?p=1315#comment-1533 I really like the idea of social lending, but the risks seem unclear. What type of default protection is offered to the personal lenders? Believe me I understand that with greater returns comes greater risk, but there must be transparency on the borrower approval process. I see that you can search by credit score and DTI, but how is that information verified? Does Lending Club use underwriters to qualify consumers? I’d like to see some stats, like what percentage of loans have gone delinquent, as well as some type of risk meter associated with your search criteria. Thanks, Ryan I really like the idea of social lending, but the risks seem unclear. What type of default protection is offered to the personal lenders? Believe me I understand that with greater returns comes greater risk, but there must be transparency on the borrower approval process. I see that you can search by credit score and DTI, but how is that information verified? Does Lending Club use underwriters to qualify consumers? I’d like to see some stats, like what percentage of loans have gone delinquent, as well as some type of risk meter associated with your search criteria. Thanks, Ryan

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