I continue to be a fan of Lending Club and plan on increasing my investing with the site. Too date, none of my 11 loans have EVER been late (much different from Prosper where almost 40% of my loans have DEFAULTED). Here are my lending parameters for Lending Club:
Rates: A - D
Credit Score: 660+
DTI Ratio: <10%
Delinquencies: 0
Funding status: 75% and higher
Loan Amount: $10,000 or less
These parameters have provided me with 0 defaults and a 12% return so far. I will update this blog over the course of 2009 with my lending progress.
Tuesday, April 14, 2009
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