Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: lascott on September 25, 2015, 10:06:52 PM

Title: Updates to your Lending Club data
Post by: lascott on September 25, 2015, 10:06:52 PM
Updates to your Lending Club data
 
Dear <name>,
 
In a few weeks, we will be introducing a new feature for our borrower members. To accommodate this feature and your ability to filter for loans that include/exclude those criteria, we are adding four additional columns to our data files. The columns will appear on the following reports:
 
•   Loan Statistics downloadable file
•   Browse Loans downloadable file
•   My Notes downloadable file
 
Additionally, four additional fields will be returned for API users as part of the regular response when calling the GetListing endpoint.
 
The columns/fields will be added to the end of each file and should not affect your code. However, please verify that your systems can continue to operate uninterrupted. The new columns/fields are scheduled to be added on October 6th, and you will be able to find details on the changes on our developers page as of that date. If you wish to adjust your code now to bypass new columns/fields, please feel free to do so.
 
If you have any questions or concerns, please contact us.
 
Sincerely,
The Lending Club Team

The four new data fields are available as of today's 1:00 PM EST loan release. New columns in the browse notes file include:

-application_type (INDIVIDUAL or JOINT)
-annual_inc_joint
-dti_joint
-verified_status_joint

So far the historical notes files haven't been updated with these fields, but it will be interesting to see whether LC appends the new data to old records once they update for the Q3 loan issuance.
Title: Re: Updates to your Lending Club data
Post by: rawraw on September 25, 2015, 10:09:40 PM
Borrower member?
Title: Re: Updates to your Lending Club data
Post by: lascott on September 25, 2015, 10:44:30 PM
Borrower member?
Pretty strange wording.  Good thing they stated this otherwise I would not have determined it was for investors.
Quote
your ability to filter for loans that include/exclude those criteria
Title: Re: Updates to your Lending Club data
Post by: Kombinator on September 27, 2015, 09:37:44 PM
So what are the 4 new columns / fields they are adding?
Title: Re: Updates to your Lending Club data
Post by: kbenson99 on September 28, 2015, 09:45:37 AM
How did you receive this notification from LC; email???  I surprised I didn't receive any notification...
Title: Re: Updates to your Lending Club data
Post by: lascott on September 28, 2015, 12:46:42 PM
How did you receive this notification from LC; email???  I surprised I didn't receive any notification...
I don't know. This email arrived: Fri, Sep 25, 2015 at 1:11 PM
Title: Re: Updates to your Lending Club data
Post by: PhilGD on September 28, 2015, 05:23:39 PM
I haven't received a similar email, yet I've been investing with LC for close to 6 months now. Do you think it was supposed to be sent out to all investors?
Title: Re: Updates to your Lending Club data
Post by: kbenson99 on September 28, 2015, 06:03:41 PM
Sent LC an email about not receiving the API update notification.  The response I received was as follows:

"We noticed that you were mistakenly excluded from the email distribution list for this update but we have added you to receive this type of communication going forward.

We apologize for any inconvenience this may have caused. Please feel free to contact us with any additional questions."

I should have been on the distribution list prior to this email since I asked to be put on it about 1 year ago.
Title: Re: Updates to your Lending Club data
Post by: PhilGD on October 06, 2015, 01:38:07 PM
The four new data fields are available as of today's 1:00 PM EST loan release. New columns in the browse notes file include:

-application_type (INDIVIDUAL or JOINT)
-annual_inc_joint
-dti_joint
-verified_status_joint

So far the historical notes files haven't been updated with these fields, but it will be interesting to see whether LC appends the new data to old records once they update for the Q3 loan issuance.
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 06, 2015, 04:57:32 PM
Have they said when they're going to start filling these fields in?  I just looked at the listings file, and all the loans are "INDIVIDUAL", and the three following fields are empty. 

It is difficult to deal with fields that are sometimes present and sometimes not present. 

Have any "JOINT" loans shown up yet?

I presume that all past loans are of type "INDIVIDUAL", in which case we have zero historical data on joint loans, and no information to make informed choices. 

Given that a loan is either "INDIVIDUAL" or "JOINT", but never both, then why do they have separate fields for income, dti and verified?  Will one set of these fields always be empty or what?

The way this should be done is to explain what the heck they are doing, and give us the documentation at least one month before the change.  This surprise stuff is not functional.  Perhaps they think they are Apple or something.
Title: Re: Updates to your Lending Club data
Post by: Rob L on October 06, 2015, 05:15:53 PM
Perhaps they think they are Apple or something.

+1
Title: Re: Updates to your Lending Club data
Post by: jennrod12 on October 06, 2015, 07:47:06 PM
So if I'm used to filtering on individual loans and one of my fields is "Max debt-to-income ratio", how would it treat that field on a Joint application, if there is nothing in that field because it's in the dti_joint field?

I am using just the Lending Club filters, and there is still only one Dti field to filter on - so maybe in their own filtering they choose the correct Dti field based on the application type.

Jenn
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 06, 2015, 08:29:01 PM
Email I just got.


Now Available
 
We are excited to announce that Lending Club now offers joint application loans on our platform. If you do not want Automated Investing to fund joint application loans, you can opt-out starting today, October 6, 2015, by modifying your Automated Investing filters to exclude joint application loans.
 
For more information on joint application loans, please click here (http://kb.lendingclub.com/investor/articles/Investor/How-do-joint-applications-work). For more information on how to update your Automated Investing filters, please click here (http://kb.lendingclub.com/investor/articles/Investor/How-do-I-update-my-Automated-Investing-filters).
 
Thank you for your continued support of Lending Club. If you have any questions, please feel free to reach out to us.
 
Best regards,
 
The Lending Club Team
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 06, 2015, 08:38:17 PM
Nice that they decided we just auto get these.  I just updated my code to ignore them for now.  I don't like to be surprised.  (especially when I never got the original notice either)
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 07, 2015, 03:16:09 PM
I just sent the following to LC regarding the recent data changes...

Quote
Documentation for the recent addition of JOINT loans is lacking.  It is impossible to determine, given what has been documented, how to filter JOINT loans.  Therefore, I have set my software to ignore all JOINT loans until more information is available.  I don't see any other option.  Explanation follows.

There is now a boolean field applicationType, which tells us whether a loan is INDIVIDUAL or JOINT.  That's simple.

Then three fields have been added (duplicated) to supply info for joint loans: annualIncJoint, dtiJoint, isIncVJoint.

These new fields contain a sentence in their description which says they will be blank for INDIVIDUAL loans.  That's clear.  (Although I must say that fields which are sometimes present and sometimes not present are a real burden for the software that must use this data.  You have to be very careful to implement the correct meaning of filtering when data is sometimes not present.)

What is not clear is what happens to the old fields in Joint loans.  It isn't clear why new fields were added at all, because you haven't said.  It also isn't clear what you are doing with OTHER data fields that used to apply to an individual, such as the employment, inquiry, FICO fields, etc.

For example: We already have an annualInc field.  Why do we need an annualIncJoint field?  What happens to the annualInc field in a JOINT listing?

I can imagine several possibilities:

1. Only one set of these data fields will be filled in, and the other will be empty.  On JOINT loans, annualInc, dti, isIncV will be empty, and the data will be in annualIncJoint, dtiJoint, isIncVJoint.  One set filled in.  One set empty.  Simple, but hard to believe you would create three new fields when you could have simply used the old three, so this must not be right.

2. On JOINT loans, both sets of fields will be filled in with the same data.  This would make it easy on software that does filtering, as it could continue to use the old annualInc, dti, isIncV fileds for filtering, but then why would you have added the new fields, so this must not be right.

3. On JOINT loans, you fill both sets of fields with DIFFERENT data.  This would seem to justify having two sets of fields, but then we need an explanation for the meaning of the data in the old fields.

3a.  Maybe the old fields apply to one of the people in the joint loan.  Perhaps the person who filled out the application.  So if the husband filled out the application, then annualInc is his annual income, whereas annualIncJoint is the sum of both parties income.  ???  Could this be it?

Please tell us which of these is correct, or whether perhaps none of them is correct.  Please include this information in the documentation.

Please explain the contents (or lack thereof) of the old annualInc, dti, isIncV fields when a loan is JOINT.  This information needs to be in the documentation so that we know how to use these fields in filtering.

Finally, what about other fields which seem to apply to individuals?

FICO fields:  You haven't provided new FICO fields for joint loans.  What does that mean?  Does the FICO field now apply to both people, or just one person, or what?  If it is one person, is it the best or the worst or the person who filled out the application, or what?  If it applies to both, is it the sum, or the arithmetic average, or... ?

Employment fields: You haven't provided new employment fields, so ...?  Is this one person's employment info, or the sum of both, or ...?

Home ownership fields: We don't know that the individuals on a joint loan live together, so now does the home ownership field refer to one person or both or what?

State and zip code: Why weren't these fields replicated?  What happens if the two individuals reside in different states or zip codes?

Inquiries last 6 months: Does this field apply to one person or both?  If one, is it the best, or worst, or ...?  If both, is it the sum, or average, or ...?

Same question applies to all the credit fields which used to apply to one individual.  If one, how did you pick the one.   If they now apply to two individuals, do you sum the numbers from two individuals or average them or what?   
Title: Re: Updates to your Lending Club data
Post by: jennrod12 on October 07, 2015, 03:20:38 PM
Thanks, Fred!  :)

Jenn
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 07, 2015, 03:27:09 PM
So far the historical notes files haven't been updated with these fields, but it will be interesting to see whether LC appends the new data to old records once they update for the Q3 loan issuance.

I don't think they can append the new data to old loans, because all old loans are INDIVIDUAL, and the new fields apply to JOINT only.
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 07, 2015, 03:28:07 PM
Nicely saying WTF mate!

My assumption is that they are giving us only these fields for the joint application and the rest is still for the primary person.  But that is just a guess.  Which means we know jack about person #2. 

When in doubt, throw it out. 

Edit: I see they at least updated the API documentation already.  I don't think it was there yesterday.  But pretty vague still.
Title: Re: Updates to your Lending Club data
Post by: PhilGD on October 07, 2015, 05:20:41 PM
I would put money on the assumption that all other credit fields apply to the person who filled out the loan application. Perhaps they ask joint filers who is the "head of household," and it's this person who's credit data is listed.

One interesting thing is that both parties are on the hook for the loan, and even if one party dies the other party is still obligated to pay. Ceteris paribus, joint loans will likely be safer risks than individual loans.
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 07, 2015, 05:26:06 PM
Well there was at least one released during this feeding time, but I was too slow to dump out its info or even get the ID before it was bought up.  So they are coming through already.
Title: Re: Updates to your Lending Club data
Post by: Kombinator on October 07, 2015, 06:00:48 PM
Interesting, these are de facto safer as both are separately and jointly liable for the loan...interesting to see if the joint means jst family members, or in fact allow for other cosigners?
Title: Re: Updates to your Lending Club data
Post by: cjpat on October 07, 2015, 06:07:40 PM
Does anyone know if there is a statistically greater or lesser *general* risk when there are two applicants instead of one -assuming the rest of the borrowers' profiles are similar?  Intuitively the fact that two people are legally liable for the loan seems to be a plus, but that may not be born out in the default rates...  Anyone know where we can get that kind of data?  I looked on NSR, it ain't there  :-\
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 07, 2015, 06:24:07 PM
Intuitively the fact that two people are legally liable for the loan seems to be a plus, but that may not be born out in the default rates... 

Bingo.  There have been many things that seemed intuitive to me about credit data, but weren't validated by the data, so I'm data-driven.  Wonderful that so much data is available, but on this point there seems to be no data.

Quote
Anyone know where we can get that kind of data?  I looked on NSR, it ain't there  :-\

LC hasn't issued loans like this before, so we can't get the data from LC.  We have to scratch our heads to think of whether we can get it somewhere else.  And then... its not just the question of whether adding a 2nd person helps the default rate, but also how one interprets the credit numbers.  It appears that LC is giving us the full data on one person, and very limited data on the 2nd person.  That's very strange.  How should I deal with that?  If the first person has a good FICO score (good stuff) but the 2nd person has a hidden FICO score, then maybe the 2nd person's FICO is horrible, in which case she isn't much of a help after the 1st person loses his job, defaults, moves to Florida, etc.  So how do I even try to make intuitive evaluations if I don't have the data for both people?

Perhaps there is some data set out there from the government or some banking source or something that tells us the relative performance of 2 person loans vs 1 person loans.  If that exists, perhaps we can extrapolate it and come up with a theory.

Even if we do, that's still not data-driven the way our investing in the LC INDIVIDUAL loans is data-driven.  We'd need about 3 years of data before we could do that. 

All very puzzling. 

I do hope to force an explanation out of them so that we can at least understand what the data fields mean.  That will at least allow us to guess the rest.
Title: Re: Updates to your Lending Club data
Post by: AnilG on October 07, 2015, 06:25:01 PM
It is just a speculation that joint means 'co-signer', that is both parties are legally responsible for the loan. It just could simply be a primary borrower who is using spouse's income and credit history as additional supporting data for the loan to lower interest rate or higher loan amount (similar to disclosure of alimony, spousal and child support).
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 07, 2015, 06:45:02 PM
It is just a speculation that joint means 'co-signer', that is both parties are legally responsible for the loan. It just could simply be a primary borrower who is using spouse's income and credit history as additional supporting data for the loan to lower interest rate or higher loan amount (similar to disclosure of alimony, spousal and child support).

It is important that we understand the meaning.

I believe I found written words somewhere from LC that say the 2nd person is also responsible.  I will try to find those words tonite and post the source.
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 07, 2015, 07:16:11 PM
Pretty sure I read that somewhere too.

Edit: oh yeah a link from the email I posted before.

Quote
Once a joint application is approved, each co-borrower is fully obligated with respect to the loan. For example, if one co-borrower dies or files for bankruptcy, the other co-borrower remains obligated with respect to all payments owed. Alternatively, if one co-borrower is an eligible servicemember who meets the requirements under the Servicemembers’ Civil Relief Act (SCRA), the joint application loan as a whole is eligible for certain financial benefits and protections when the servicemember co-borrower enters active duty. Learn more about financial benefits for eligible servicemembers under SCRA.
Title: Re: Updates to your Lending Club data
Post by: PhilGD on October 07, 2015, 09:09:29 PM
I don't think we have any basis to complain that there's no historical performance data on joint loans. To put this in perspective, the original retail investors who put their money on the line with LC had zero historical performance data to analyze for individual loans, the exact situation we find ourselves in now with joint loans. The same can also be said for when Lending Club originally introduced 60-month loan terms.

By now, I think we can give LC's underwriting the benefit of the doubt. In the meantime, I agree with Fred93 that we need additional clarification on how the rest of the credit factors are being handled for joint applicants.
Title: Re: Updates to your Lending Club data
Post by: Rob L on October 07, 2015, 09:09:57 PM
The way this was handled seems to me that the old fields stay the same and the new fields are additional new information for a new type of loan LC is now offering borrowers.

If individual then the there's nothing new. If joint then the three new fields provide new information and the old fields continue to provide the same old information for the applicant his/her self. This provides backwards compatibility with the existing data base for all the existing fields and adds a very limited amount of new information for the new loan type starting today. Maybe this is all the new information LC is getting from joint applicants. Who knows? If they spelled it out this way I don't think it would be a problem and we would be happy to have the backwards compatibility retained.

It would be nice not to have to COMPLETELY GUESS though!!  ???
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 07, 2015, 11:23:18 PM
It would be nice not to have to COMPLETELY GUESS though!!  ???

Precisely.
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 08, 2015, 12:18:43 AM
Well there was at least one released during this feeding time, but I was too slow to dump out its info or even get the ID before it was bought up.  So they are coming through already.

My software hasn't detected any yet.  Here's the breakdown of the applicationType field on new loans last few feeding times, as seen from here...
Code: [Select]
10/07/15 06:00:01.3  LC 531 individual  0 joint  0 other
10/07/15 10:00:02.5  LC 595 individual  0 joint  0 other
10/07/15 14:00:01.1  LC 614 individual  0 joint  0 other
10/07/15 18:00:02.0  LC 509 individual  0 joint  0 other
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 08, 2015, 12:42:54 AM
It was in between drop times.  I happen to be on the web UI searching with and without exclude joint marked with no other filters just to see if any showed up and the count was toggling +/- 1.  I threw some debug code into my code but accidentally hit run after hitting a break point on it and lost the data as it was then gone.  I left it going the rest of the evening but never caught another one.  I don't save everything but this is yet another time I wish I stored all the loans always. 
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 08, 2015, 01:05:25 AM
It was in between drop times.  I happen to be on the web UI ...

Grr.  We've never learned exactly why loans appear in between feeding times, but they occasionally do.  My sw runs periodically (every 2 hrs) between feeding times just to catch such stragglers, and also to handle the case where some money has popped into my account from payments, but of course that will only catch the ones that stick around awhile.

Quote
I threw some debug code into my code but accidentally hit run after hitting a break point on it and lost the data as it was then gone.  I left it going the rest of the evening but never caught another one.

I've been there.
Title: Re: Updates to your Lending Club data
Post by: jheizer on October 08, 2015, 01:11:37 AM

Grr.  We've never learned exactly why loans appear in between feeding times, but they occasionally do.  My sw runs periodically (every 2 hrs) between feeding times just to catch such stragglers, and also to handle the case where some money has popped into my account from payments, but of course that will only catch the ones that stick around awhile.


I 200% agree. A few days ago I was changing some code and running it in production mode and it bought loans and I was completely shocked.  Previously I had decided that like you said, once the drop was done it was basically done.  I too now just do it every hour after that. Staying up to add in the code to record every loan now even if I never look at it again.  haha.
Title: Re: Updates to your Lending Club data
Post by: Rob L on October 08, 2015, 09:34:12 AM
If we have to keep guessing then the following from the Lend Academy Q&A with LC is helpful:

Q: Will the expected loss rate be lower given there are two parties on the loan?
A: Our experience would indicate that we will likely see a benefit in credit performance given there are two parties on the loan.
The ‘expected loss’ shown on the site will be based only on individual performance, until we see actual performance on joint applications at LC.

Another way of saying it is that the grade (interest rate) assigned to the loan will not change immediately.

I plan to ignore the new fields for now, the assumption being that a joint loan is never worse than an individual one.
If LC begins assigning lower interest rates to joint loans than would have been assigned an individual then my software will see them as less desirable. It may or may not buy them that being the case.
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 08, 2015, 02:16:34 PM
Here's one more tidbit from the lendacademy interview:
Quote
Q: What about the impact on your credit model? This seems like quite an adjustment for you and a good opportunity for investors.
A: The initial implementation of the joint credit model was built to be as similar as possible to our individual credit model, with the emphasis of the model on the primary applicant. You will see that the primary applicant meets all of today’s credit requirements (660 FICO, 3 years credit history, etc.) with the exception of DTI. People with high individual DTIs are in some cases given an increased loan amount or incrementally approved, where we find that the joint income is sufficient to cover the joint debts.

"emphasis... on the primary applicant"  Ok, but then note "with the exception of DTI".  Hmm.

We learn two things from this.  We see that they're thinking mostly about the "primary applicant". 

But they're not pure ... they are using the joint DTI.  (Without regard to the cosigner's FICO, etc, I wonder?)
Title: Re: Updates to your Lending Club data
Post by: Rob L on October 08, 2015, 04:13:11 PM
But they're not pure ... they are using the joint DTI.  (Without regard to the cosigner's FICO, etc, I wonder?)

I wondered the same regarding co-applicant's FICO. LC could have thrown us a bone and included it as a new field too. At least we would have something to work with.
Clearly a 660 FICO applicant with a co-applicant that's 820 has gotta be very meaningful.
You might ask why not simply apply in the co-applicant's name in the first place, but not necessarily so. More like Mom or Dad "helping" in the background so to speak (or vice versa).
The 820 isn't likely to all allow his/her credit score to be trashed by late payments or a chargeoff.
Title: Re: Updates to your Lending Club data
Post by: PhilGD on October 08, 2015, 04:16:37 PM
If I were to guess, I'd say they won't show the co-applicant's score to us because maybe they're allowing co-applicants to have a credit score lower than 660, or even no credit history at all
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 08, 2015, 05:14:15 PM
I saw some joint loans appear at a regular feeding time...  So they are now in the regular flow.

10/08/15 14:00:03.2  LC 556 individual  3 joint  0 other
Title: Re: Updates to your Lending Club data
Post by: AnilG on October 08, 2015, 05:33:42 PM
The two loans detected by PeerCube. The primary and joint annual income and DTI relationship is interesting. Is the DTI and Annual Income joint for the co-signer only or combined primary and co-signer together?

Code: [Select]
applicationType annual_inc annual_incJoint dti dtiJoint is_inc_v is_inc_vJoint
JOINT 25000.00 85000.00 37.11 11.13 NOT_VERIFIED NOT_VERIFIED
JOINT 48000.00 68000.00 26.08 20.42 NOT_VERIFIED NOT_VERIFIED

I saw some joint loans appear at a regular feeding time...  So they are now in the regular flow.

10/08/15 14:00:03.2  LC 556 individual  3 joint  0 other
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 08, 2015, 05:45:45 PM
The primary and joint annual income and DTI relationship is interesting. Is the DTI and Annual Income joint for the co-signer only or combined primary and co-signer together?

Great questions.  I've been presuming that "joint" means both taken together, but they don't actually anywhere explicitly say this.

Under my presumptions re what they mean, joint annual income should always be larger, but joint DTI could go in either direction, because I presume they consider the 2nd person's payments as well as his income. 

After I submitted my list of questions I realized that I was asking only about the meaning of the old fields in the new "JOINT" scenario, but actually there are things that are unclear about the new fields as well.  For example... The verification status of the primary borrower has three states: not verified, source verified, income verified.  Great.  Now I presume the cosigner also has three verification states.  That would mean that the joint verification should have nine states, right?  But they give us three states.  What have they done to reduce nine states to three?  If they took the minimum, then not verified may mean the primary guy is fully salary verified but the 2nd guy isn't.  On the other hand...

Title: Re: Updates to your Lending Club data
Post by: jheizer on October 08, 2015, 06:14:53 PM
I only found 2 as well.  If you anyone wants to see the full data set.

{ "_id" : 62002798, "memberId" : 66195523, "term" : 36, "intRate" : "11.53", "expDefaultRate" : "4.65", "serviceFeeRate" : "0.85", "installment" : "395.89", "grade" : "B", "subGrade" : "B5", "empLength" : 72, "homeOwnership" : "MORTGAGE", "annualInc" : "48000.0", "isIncV" : "NOT_VERIFIED", "acceptD" : null, "expD" : "2015-10-22T13:53:36.000-07:00", "listD" : "2015-10-08T14:00:00.000-07:00", "creditPullD" : "2015-10-08T12:09:18.000-07:00", "reviewStatusD" : null, "reviewStatus" : "NOT_APPROVED", "desc" : null, "purpose" : "debt_consolidation", "addrZip" : "335xx", "addrState" : "FL", "investorCount" : 0, "ilsExpD" : "2015-10-08T14:00:00.000-07:00", "initialListStatus" : "F", "empTitle" : "Fire Protection Consultant", "accNowDelinq" : 0, "accOpenPast24Mths" : 4, "bcOpenToBuy" : 1191, "percentBcGt75" : "33.3", "bcUtil" : "84.7", "dti" : "26.08", "delinq2Yrs" : 0, "delinqAmnt" : "0.0", "earliestCrLine" : "2006-01-07T16:00:00.000-08:00", "ficoRangeLow" : 705, "ficoRangeHigh" : 709, "inqLast6Mths" : 0, "mthsSinceLastDelinq" : 0, "mthsSinceLastRecord" : 0, "mthsSinceRecentInq" : 0, "mthsSinceRecentRevolDelinq" : 0, "mthsSinceRecentBc" : 29, "mortAcc" : 1, "openAcc" : 19, "pubRec" : 0, "totalBalExMort" : 117522, "revolBal" : "6609.0", "revolUtil" : "24.4", "totalBcLimit" : 7800, "totalAcc" : 42, "totalIlHighCreditLimit" : 115794, "numRevAccts" : 13, "mthsSinceRecentBcDlq" : 0, "pubRecBankruptcies" : 0, "numAcctsEver120Ppd" : 0, "chargeoffWithin12Mths" : 0, "collections12MthsExMed" : 0, "taxLiens" : 0, "mthsSinceLastMajorDerog" : 0, "numSats" : 19, "numTlOpPast12m" : 1, "moSinRcntTl" : 11, "totHiCredLim" : 243046, "totCurBal" : 214899, "avgCurBal" : 11310, "numBcTl" : 6, "numActvBcTl" : 1, "numBcSats" : 3, "pctTlNvrDlq" : 100, "numTl90gDpd24m" : 0, "numTl30dpd" : 0, "numTl120dpd2m" : 0, "numIlTl" : 28, "moSinOldIlAcct" : 117, "numActvRevTl" : 1, "moSinOldRevTlOp" : 113, "moSinRcntRevTlOp" : 22, "totalRevHiLim" : 27100, "numRevTlBalGt0" : 1, "numOpRevTl" : 8, "totCollAmt" : 324, "fundedAmount" : "0.0", "loanAmount" : "12000.0", "applicationType" : "JOINT", "annualIncJoint" : "68000.0", "dtiJoint" : "20.42", "isIncVJoint" : "NOT_VERIFIED" }

{ "_id" : 62002793, "memberId" : 66195517, "term" : 36, "intRate" : "20.99", "expDefaultRate" : "11.8", "serviceFeeRate" : "1.11", "installment" : "753.4", "grade" : "E", "subGrade" : "E5", "empLength" : 60, "homeOwnership" : "OWN", "annualInc" : "25000.0", "isIncV" : "NOT_VERIFIED", "acceptD" : null, "expD" : "2015-10-22T12:14:59.000-07:00", "listD" : "2015-10-08T14:00:00.000-07:00", "creditPullD" : "2015-10-08T12:02:15.000-07:00", "reviewStatusD" : null, "reviewStatus" : "NOT_APPROVED", "desc" : null, "purpose" : "debt_consolidation", "addrZip" : "207xx", "addrState" : "MD", "investorCount" : 0, "ilsExpD" : "2015-10-08T14:00:00.000-07:00", "initialListStatus" : "F", "empTitle" : "cashier", "accNowDelinq" : 0, "accOpenPast24Mths" : 4, "bcOpenToBuy" : 8634, "percentBcGt75" : "60.0", "bcUtil" : "52.3", "dti" : "37.11", "delinq2Yrs" : 0, "delinqAmnt" : "0.0", "earliestCrLine" : "1996-09-07T17:00:00.000-07:00", "ficoRangeLow" : 690, "ficoRangeHigh" : 694, "inqLast6Mths" : 1, "mthsSinceLastDelinq" : 0, "mthsSinceLastRecord" : 0, "mthsSinceRecentInq" : 4, "mthsSinceRecentRevolDelinq" : 0, "mthsSinceRecentBc" : 9, "mortAcc" : 0, "openAcc" : 11, "pubRec" : 0, "totalBalExMort" : 39866, "revolBal" : "11542.0", "revolUtil" : "35.1", "totalBcLimit" : 18100, "totalAcc" : 18, "totalIlHighCreditLimit" : 28996, "numRevAccts" : 14, "mthsSinceRecentBcDlq" : 0, "pubRecBankruptcies" : 0, "numAcctsEver120Ppd" : 0, "chargeoffWithin12Mths" : 0, "collections12MthsExMed" : 0, "taxLiens" : 0, "mthsSinceLastMajorDerog" : 0, "numSats" : 11, "numTlOpPast12m" : 3, "moSinRcntTl" : 4, "totHiCredLim" : 61896, "totCurBal" : 39866, "avgCurBal" : 3624, "numBcTl" : 8, "numActvBcTl" : 4, "numBcSats" : 5, "pctTlNvrDlq" : 100, "numTl90gDpd24m" : 0, "numTl30dpd" : 0, "numTl120dpd2m" : 0, "numIlTl" : 4, "moSinOldIlAcct" : 85, "numActvRevTl" : 5, "moSinOldRevTlOp" : 229, "moSinRcntRevTlOp" : 9, "totalRevHiLim" : 32900, "numRevTlBalGt0" : 5, "numOpRevTl" : 10, "totCollAmt" : 0, "fundedAmount" : "0.0", "loanAmount" : "20000.0", "applicationType" : "JOINT", "annualIncJoint" : "85000.0", "dtiJoint" : "11.13", "isIncVJoint" : "NOT_VERIFIED" }




Edit: Oh I see they are both still available.  Will leave the details here anyway for future conversation.
Title: Re: Updates to your Lending Club data
Post by: jennrod12 on October 08, 2015, 07:02:23 PM
Weird - if I search for the E5 loan on PeerCube, I can find it and view it in Lending Club.  But if I search for it on Lending Club with a filter that only narrows my selections to the E grade (no other filtering), it doesn't come up - any idea why?

Thanks,

Jenn
Title: Re: Updates to your Lending Club data
Post by: Prescott on October 08, 2015, 07:11:08 PM
But they're not pure ... they are using the joint DTI.  (Without regard to the cosigner's FICO, etc, I wonder?)

Most likely they are doing "light" scoring on the co-applicant and using that light score to determine how much credit support the borrower gets. Ie if I qualify for $5000 solo, and my co-applicant is crap, maybe I only get $6000 offer, vs a really good co-applicant, maybe I get 10K offer
Title: Re: Updates to your Lending Club data
Post by: jennrod12 on October 08, 2015, 07:16:37 PM
I filtered in LC on the B loan mentioned above and if I filtered on Dti of the individual (up to 30%) it found the loan.  But if I filtered on the Joint Dti (up to 25%), then it did not find the loan. 

My takeaway is that if you are using LC's basic UI to filter, you could miss out on a joint loan that might meet your desired criteria if the individual alone does not meet those criteria.

Jenn
Title: Re: Updates to your Lending Club data
Post by: AnilG on October 09, 2015, 01:50:04 PM
Yep, Income verification field will be confusing if joint means both taken together. I noticed another JOINT loan today that seems to put real Lending Club incentive in perspective. The DTI of primary borrower is 59.19%. I guess JOINT application is to further expand the borrower base by loosening the credit criteria of the borrowers.



Great questions.  I've been presuming that "joint" means both taken together, but they don't actually anywhere explicitly say this.

Under my presumptions re what they mean, joint annual income should always be larger, but joint DTI could go in either direction, because I presume they consider the 2nd person's payments as well as his income. 

After I submitted my list of questions I realized that I was asking only about the meaning of the old fields in the new "JOINT" scenario, but actually there are things that are unclear about the new fields as well.  For example... The verification status of the primary borrower has three states: not verified, source verified, income verified.  Great.  Now I presume the cosigner also has three verification states.  That would mean that the joint verification should have nine states, right?  But they give us three states.  What have they done to reduce nine states to three?  If they took the minimum, then not verified may mean the primary guy is fully salary verified but the 2nd guy isn't.  On the other hand...
Title: Re: Updates to your Lending Club data
Post by: Fred93 on October 10, 2015, 03:56:02 AM
I just received the following answers to the questions I posed a few days ago (posted a few pages back)...
Quote
On your possibilities you mentioned below, 3a is correct. All “old” fields apply only to the primary applicant. The new fields have no effect on old fields. All old fields only apply to a primary applicant. Fields related to joint are additive (i.e. joint DTI = DTI of two applicants). The best way to think about this is that the new fields are only adding information above & beyond what is already presented.