Thanks for posting about our news today.
To answer your question, loans with status “removed” are those that were taken down by us from active listing status (In funding) because of a variety of reasons, primarily related to credit policy non compliance, inability to confirm identity or income off-line or content policy.
Here are the definition of all the states as described on the statistics page on Lending Club:
In Review: Loan requests that are pending a final review by our Credit Department to ensure the applications are in good standing before they are issued.
Expired: Loan requests that did not receive full funding and were not issued.
Removed: Loans removed from active listings based on credit decisions, inability to verify identity/income of the borrower, or based on content policies.
In Funding: Loan requests that are listed on the site and receiving funding.
Current: Loans that are being repaid in a timely fashion including loans within the 15-day grace period.
Late (16-30): Loans having at least one payment that is more than 15 days past due.
Late (31-120): Loans having at least one payment that is between 31 and 120 days past due.
Fully paid: Loans that have been fully repaid, either at the expiration of their 3-year term or as a result of a prepayment.
Default: Loans having at least one payment that is more than 121 days late.
Charged off: Loans that are considered written off (losses).
Partially Funded: Loans that did not get full funding and are pending partial funding acceptance by the Borrower
Director, Web Production
What does partnering with WebBank mean?
Zopa has credit union “partners” and it has become basically a marketing arm for those institutions. It issues 5.1% CD 8% loans and Zopa and it’s partners keep the spread, there’s not much P2P in that. Has Lendingclub made the same deal ?
Fair enough, but what does WebBank get out of the deal ?