Naturally I visit www.foliofn.com and attempt to log into my account. No luck.
This part, at least, is not surprising. If you trade notes on Prosper you have to go through the full FOLIOfn signup and get an actual account, but LC doesn't do it that way. So you don't have anything to log in with. I thought nothing of it at the time, back when I started with LC.
This morning I called FolioFn and explained that I had applied to join the FolioFn trading platform through Lending Club in mid-May this year and received email notification of approval the next day. I asked for my account number, account type (they do offer retirement accounts of all kinds), and my login credentials. I was told they could not find any account associated with my SSN, nor one associated with my name and residence, nor my email address.
Whoa, I'm starting to get that little feeling I get when something funny is going on.
We already know, or I should say
I already know based on my previous telephone calls, that Folio is not actually involved in any of this on a hands-on level. Folio does not operate the site (contrary to the warning message LC displays), and all the trade settlement is handled by LendingClub. Not Folio. Both 1099's are identical, except for the corporation name, down to the pixel. That's all fine so far.
But now from this new information, it seems there isn't even a dummy account over there to make it quasi-legit? I can only assume that LC at least has permission to use Folio's name on the site?

It wouldn't be too cool if LC saw what Prosper had done with FOLIOfn and just started copying logos and legalese and stuff, now would it? Sending a 1099-B on behalf of a company they don't even have relations with would be somewhat troublesome.
Before you call me absolutely nuts, let's look for some evidence.
On the page
https://www.lendingclub.com/foliofn/tradeDisclosurePage.action (login required to view), among other things is this snippet:
All starting bid prices for the Notes are determined solely by the seller of a Note. The trading platform displays the Notes a seller has offered or desires to sell, and the starting price at which the proposed transaction would occur as determined by the seller. Trading members may bid higher than the starting price to purchase the Note, but may not bid a price higher than the total of the payments remaining on the corresponding loan.Sound familiar to anyone? All of this auction/bidding stuff is Prosper-esque. LendingClub never had any such auction arrangement. What's LC doing with a copy/paste job of Prosper legalese on their site, I wonder?
Yes I say all this half joking. But you can't say "warning: going to Folio" and then at the same time say Folio has nothing to do with it.