Author Topic: No fee loans  (Read 1937 times)

Jomar

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No fee loans
« on: February 14, 2014, 10:19:28 AM »
This has probably already been discussed somewhere, but what's the deal with "no fee" loans like the one below?  Why and under what circumstances does Lending Club originate loans that they won't earn any money on?

https://www.lendingclub.com/browse/loanDetail.action?loan_id=1119313

Side note:  This particular loan also has at least one note up for sale on Folio:
https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?showfoliofn=true&loan_id=1119313&order_id=10693175&note_id=8485464


ggnoob1337

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Re: No fee loans
« Reply #1 on: February 14, 2014, 10:44:52 AM »
Looks like there was a promotion going on, according to this post:

http://www.lendacademy.com/lending-club-waiving-service-fees-on-large-loans/