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Messages - nscap

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Investors - LC / Re: Verified income
« on: April 02, 2013, 06:09:19 PM »
Thanks for the enlightening discussion... Rawraw to your point, I guess I am just a little wary of trying to equate to RMBS as in this case, there is no collateral behind the LC loans at all. So, sans that, I feel like the only real form of analysis one can do is income. I guess the flip side is the borrower can lose their job and the income could disappear which is perhaps somewhat analogous to house prices dropping in 08 blowing up the collateral on the loans, but I guess that is just an inherent risk with this kind of investing?

That may have made more sense in my head than typing it out...

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Investors - LC / Re: Verified income
« on: March 29, 2013, 06:44:42 PM »
Thank you.

Does LC make efforts to verify all loans? I.e. the ones that are listed as "verified" are just the ones that have already been verified, the other ones haven't been yet (meaning they haven't been left unverified for some sinister reason)? I appreciate the sentiment re: behaviour of the pool vs. an individual issuer, but given that I only have $1k invested, just one borrower lying has an impact on my overall performance (which is why I chose to go with verified only).

Can you point me in the right direction for where to find out more about verified vs. unverified income loans in terms of defaults, performance etc?

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Investors - LC / Verified income
« on: March 29, 2013, 05:17:17 PM »
Hello all - lately (~2 months or so), I have noticed that the number of loans with verified income has greatly decreased. Given this is a required component of my investment process, this has reduced my total number of investments, and brought some doubt into my mind about scalability. As such, I have a few queries:

1) Has anyone else noticed the # of verified income loans has gone down? Or are they merely being snapped up so fast after being put up that I am missing them?
2) If in fact the # of verified income loans has gone down, what do you guys think is the reason?
3) Does verified income really matter that much? The reason I put so much faith in it is that is literally one of the few metrics I can trust to analyze... do people generally tend to put down their real income? What is stopping someone (who isn't verified) from lying about their monthly income? Is that common?

Many thanks!

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