Author Topic: Why do LC raw loan data not match LC posted loan statistics?  (Read 1382 times)

wpanak

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Why do LC raw loan data not match LC posted loan statistics?
« on: January 19, 2018, 10:18:12 AM »
I routinely analyze the LC raw data, building models and reports, etc.  I never compared my results to the Statistics page summary reports because well I figured they would match closely and my analysis was more granular.

https://www.lendingclub.com/info/statistics.action

Loans to date:  $32.2B across 2.6MM loans.

But when I compile the LC raw loan data I get a very different result:

Loans to date:  $24.2B across 1.6MM loans.

I cross check this with both the raw loan note data (one record per loan) and the statement level data, so I'm pretty sure I am compiling the available data correctly.

Does anyone know where the other 1MM loans went?  Is that institutional investors with their own credit policy?

TIA

Fred93

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Re: Why do LC raw loan data not match LC posted loan statistics?
« Reply #1 on: January 19, 2018, 12:32:03 PM »
"Total Loan Issuance" on the Highlights page includes types of loans that LC does not offer via the web site or the API we're familiar with.  The detail loan data, available as downloadable files from the LC web page or via SEC filings, are only for the loans that are offered thru the web site, etc.

I don't remember all the words they use to describe the categorization.  There are car loans, for example.

This becomes more clear if you read their SEC filings.  There's not a lot of explanation of this, but there are some words and many more numbers.