Author Topic: Lending Club to Offer Super Prime Loans!  (Read 15414 times)

core

  • Hero Member
  • *****
  • Posts: 1790
  • Your loss is my gain
    • View Profile
Re: Lending Club to Offer Super Prime Loans!
« Reply #30 on: November 24, 2014, 11:28:01 PM »
Fred's cute kitty image made me wonder what this woman looks like (don't ask what the connection is), because I'm sure it's not too late to call her back.  So I did some poking around.  The story gets a little more interesting.

The lady who has been contacting me doesn't even work for LC.  She's got a lendingclub.com email address but she actually works for a San Franciso company called LoopNet.  They are in real estate sales.  She was just promoted last month so I really doubt the information I found is old.  There's a small possibility that it's not the same person, but her name is unique enough that only one hit came up for the whole country.  And when it said San Francisco that seemed like way too much of a coincidence.

Now why would a real estate sales company be making sales calls for Lending Club leads generated on LC's own site?  Doesn't that seem a little odd?

Oh and Dan, you got me.  I admit I do not have minimum wage figures memorized for all 18k+ cities/towns/villages in the United States.  Next time I will try to do better!
« Last Edit: November 24, 2014, 11:37:56 PM by core »

BBingo

  • Newbie
  • *
  • Posts: 41
    • View Profile
Lending Club to Offer Super Prime Loans!
« Reply #31 on: November 24, 2014, 11:34:15 PM »

I mean, they're paying that lady minimum wage

I think not.  Federal minimum wage is about $15k annually.  According to DanB, no employees at Lending Club are making 30k or less:

There's no one at LC making $30k a year, ok.

And he should know.   Because... ah nevermind.  He just does.

I'd be hard pressed to find a company that didn't contract out some tasks to other companies that pay minimum wage, phone services and office cleaning being biggies. Those folks don't count as employees, so LC or other companies can argue they pay everyone a good wage. At 7.75/hr, that means after payroll taxes, workmans comp ins, etc they cost $10-$11/hr. Tack on 20% for overhead and profit, and 3-4 hours of harassing someone like Core can still be very profitable. ;-)


Sent from my iPhone using Tapatalkz.  U

Prescott

  • Full Member
  • ***
  • Posts: 125
    • View Profile
Re: Lending Club to Offer Super Prime Loans!
« Reply #32 on: November 25, 2014, 05:17:21 AM »
Referral Source         <-------------------

IE they partner with a bank or an airline and members of those partners get a slight discount on the loan. I think that kind of thing is pretty normal..

core

  • Hero Member
  • *****
  • Posts: 1790
  • Your loss is my gain
    • View Profile
Re: Lending Club to Offer Super Prime Loans!
« Reply #33 on: November 27, 2014, 05:44:12 AM »
Something is seriously up.  They seem to be in a frenzy to get applications in by the 30th.  She just sent me yet another email:

Quote from: Mysterious chick who works or worked for LoopNet
I just wanted to offer you a friendly reminder that we would love to help you with your loan.  I wanted to urge you, if you are still interested, to accept the loan and complete the registration before the weekend is over. This will secure the rate and also get the ball rolling before the hectic week begins again on Monday.

QUESTIONS?  On Saturday, you may contact Member Services at 888-596-3157.  I can be reached Mon - Fri. at (xxx).

Yes, those items were actually bolded in her email.   LC sounds increasingly desperate to get them in before the month is out!  All I did was check my rate, sheesh!

I still have not solved the LoopNet mystery, by the way.  It's definitely the same person.  I looked up several other LC employees on my S-list and many of them mention LoopNet as well.  Mostly as previous employers.  I cannot for one second believe that this woman quit a "senior" (her words) position at LoopNet right after after receiving her new promotion last month to go live the glamorous life of sitting in a cube at LC making phone calls to people who want lousy $1k loans.  One innocent explanation is she just got fired for a tryst in the pencil room or something, and neglected to update her resume.  Anything else though just isn't computing for me.

Lovinglifestyle

  • Hero Member
  • *****
  • Posts: 902
    • View Profile
    • Email
Re: Lending Club to Offer Super Prime Loans!
« Reply #34 on: November 27, 2014, 12:06:30 PM »
Just a thought--might individual employees earn a commission or bonus on submitted applications?  If so, she may need extra money this month.

BruiserB

  • Sr. Member
  • ****
  • Posts: 427
    • View Profile
Lending Club to Offer Super Prime Loans!
« Reply #35 on: November 27, 2014, 01:21:28 PM »

Something is seriously up.  They seem to be in a frenzy to get applications in by the 30th.  She just sent me yet another email:

Quote from: Mysterious chick who works or worked for LoopNet
I just wanted to offer you a friendly reminder that we would love to help you with your loan.  I wanted to urge you, if you are still interested, to accept the loan and complete the registration before the weekend is over. This will secure the rate and also get the ball rolling before the hectic week begins again on Monday.

QUESTIONS?  On Saturday, you may contact Member Services at 888-596-3157.  I can be reached Mon - Fri. at (xxx).

Yes, those items were actually bolded in her email.   LC sounds increasingly desperate to get them in before the month is out!  All I did was check my rate, sheesh!

I still have not solved the LoopNet mystery, by the way.  It's definitely the same person.  I looked up several other LC employees on my S-list and many of them mention LoopNet as well.  Mostly as previous employers.  I cannot for one second believe that this woman quit a "senior" (her words) position at LoopNet right after after receiving her new promotion last month to go live the glamorous life of sitting in a cube at LC making phone calls to people who want lousy $1k loans.  One innocent explanation is she just got fired for a tryst in the pencil room or something, and neglected to update her resume.  Anything else though just isn't computing for me.

But applications by the 30th don't count as business until the loan issues.  Not to say they aren't in a frenzy for business, but it seems unlikely it would count this month. It certainly would get in 4th Quarter business.


Sent from my iPhone using Tapatalk

core

  • Hero Member
  • *****
  • Posts: 1790
  • Your loss is my gain
    • View Profile
Re: Lending Club to Offer Super Prime Loans!
« Reply #36 on: November 28, 2014, 01:25:16 AM »
But applications by the 30th don't count as business until the loan issues.  Not to say they aren't in a frenzy for business, but it seems unlikely it would count this month.

Yes, I did think of that.  It didn't really make any sense to me either, but the bolded parts were hard for me to dismiss.  I did not come up with a satisfactory explanation.

Just a thought--might individual employees earn a commission or bonus on submitted applications?  If so, she may need extra money this month.

I think we have a winner.  That one seems believable.  And a person recently fired from LoopNet for office supply room improprieties might have been without pay for some weeks and behind on several bills, eager to catch up with juicy commissions.  I can see this happening.  The only thing that has me scratching my head is she was telling borrower stories like she's been there at Lending Club for ages.  She is quite good for only being employed for a few weeks, _if_ that is the case.  I guess that's the mark of a true saleswoman.

I am still leaving open the possibility though that there is some conspiracy between Lending Club and LoopNet.  LC may be calling for all hands on deck in a final push, and LoopNet's employees are somehow involved, using lendingclub.com domain emails to further the deceit.  There are just too many connections that I'm seeing between the two, the more I look.

P.S. I also found a "Dan B." who works for LoopNet.  City does not match, though.  I don't think it's the infamous DanB but I have been wrong once or twice in my life.
« Last Edit: November 28, 2014, 01:35:36 AM by core »