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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!
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!