Title: "Does not meet the credit policy."?
Post by: brec on December 17, 2014, 11:00:00 PM
Post by: brec on December 17, 2014, 11:00:00 PM
I am looking at loans issued 2007-2011 in the .csv file that LC provides at
https://www.lendingclub.com/info/download-data.action
Having opened the file with Excel, I see that there are two blank rows after row 39787, followed by a row containing "Loans that do not meet the credit policy:", followed by 2,749 rows of loans which have "Does not meet the credit policy. Status:X" where X is one of the expected statuses such as "Current", "Fully Paid", Charged Off", etc. These loans look otherwise normal to me, although, via eyeball, the average grade seems lower than that of the 39,786 loans in the initial portion of the list. What does "Does not meet the credit policy" mean in the context of this file?
https://www.lendingclub.com/info/download-data.action
Having opened the file with Excel, I see that there are two blank rows after row 39787, followed by a row containing "Loans that do not meet the credit policy:", followed by 2,749 rows of loans which have "Does not meet the credit policy. Status:X" where X is one of the expected statuses such as "Current", "Fully Paid", Charged Off", etc. These loans look otherwise normal to me, although, via eyeball, the average grade seems lower than that of the 39,786 loans in the initial portion of the list. What does "Does not meet the credit policy" mean in the context of this file?
Title: "Does not meet the credit policy."?
Post by: Fred93 on December 17, 2014, 11:00:00 PM
Post by: Fred93 on December 17, 2014, 11:00:00 PM
I don't believe there's a definitive statement from LC explaining what the heck it means (a very common problem). However, this is discussed in an old thread you may find useful.
http://www.lendacademy.com/forum/index.php?topic=2427.msg20813#msg20813
http://www.lendacademy.com/forum/index.php?topic=2427.msg20813#msg20813
Title: "Does not meet the credit policy."?
Post by: TravelingPennies on December 17, 2014, 11:00:00 PM
Post by: TravelingPennies on December 17, 2014, 11:00:00 PM
As useful as LC allows, it seems. 
Thanks for the pointer!
Thanks for the pointer!