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"employment: N/A"

Started by Peter, September 10, 2013, 11:00:00 PM

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Yeah, what the title said.

Tell me this response can stand for legitimately self-employed with a $4,000+ a month income and that I'm not "partners in the dream for a brighter future" with Walter White.

Next, of course, is the obvious question... just how can you be sure you make exactly 3,750 per month...

I guess I just have to trust the behind the scenes that lending club is verifying this and this guy is one of the 90% that made the cut


If it doesn't have a '*' by it, then no the income wasn't verified by LC.  Hey, there's a lot of ways to make $3750+ a month without being employed.  Maybe he's a 'pro'  investor, taking out a loan because he doesn't watch to touch his precious cash.  Income from unemployment.  Royalties.  Rental income.  Alimony from the rich wife who ditched him.  Or he's a drug dealer.  Folio trader.  He could even be a member of DanB's infamous blackjack team.


Credit Variables Explained: Employment Tenure" class="bbc_link" target="_blank">

Below is the performance based on employment tenure.  Based on these numbers, the stability of income is not as strong a predictor of performance as other variables we've reviewed, but there is some weakness in the lower end.  Specifically, we do not like the "n/a" category.  It isn't entirely clear what this means, but from the performance below, it isn't good and should likely be omitted from any filtering strategy.  Any further exclusion decisions would have to depend on the investor's risk/return preferences and expectations.

[attachment deleted by admin]


I always took the "n/a" to mean self employed.  While the recent LC data may say one thing, longer term unsecured consumer debt analysis told me that self employed were more likely to pay late, but defaulted less.

Couple of cases in point on 'where does the money come from', I make about 4k a month in largely passive income activities, and my girlfriend gets 80k a year in child support, both of which are considered income.  Of course, her child support income stops in about 3 years, after which her income will take a huge drop if she doesn't go back to work full time.





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