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  • Lending Club loans paying off early

    Sean, I saw your article about Lending Club borrowers prepaying prior to maturity. http://debanked.com/2016/10/whos-ste...ubs-borrowers/

    You mentioned Discover but might it be possible borrowers are using other alternative lenders like LoanDepot to pay these loans off? And how would Discover know if a borrower has a Lending Club loan in the first place to target them? If I am missing something there, please clue me in as always! Thanks!

  • #2
    Originally posted by platformlending View Post
    Sean, I saw your article about Lending Club borrowers prepaying prior to maturity. http://debanked.com/2016/10/whos-ste...ubs-borrowers/

    You mentioned Discover but might it be possible borrowers are using other alternative lenders like LoanDepot to pay these loans off? And how would Discover know if a borrower has a Lending Club loan in the first place to target them? If I am missing something there, please clue me in as always! Thanks!
    I'm sure it's more than just Discover but there's no way of knowing the cause of the payoffs. Even Lending Club might not know in some cases, although Discover has a special option where you can pay off creditors through their system directly.

    Discover might not know if someone has a Lending Club loan but if they target the same consumer credit profile with their marketing, many would likely be sent to people who are already existing Lending Club customers. Who knows though.
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