http://kb.lendingclub.com/siteupdates/articles/Site_Updates/Recent-and-Upcoming-Changes-on-the-Lending-Club-Platform-August-2014Some highlights:
Estimated charge-off rates were slightly lowered, except for B which increased.
Not too thrilled about the changes to collection fees:
I miss DanB. I can just imagine his reaction to these changes. He is typically on the money.
Whatever happened to Core?
core had core-dump. /geek humor
The DTI expansion makes me a little nervous
It doesn't cover rent either. Just heard an NPR story saying that 36% (I think?) of renters were paying over 1/3 of their income on rent and in some parts of Florida the average renter paid over 50% of income for housing. The increase will allow more crummy loans to post. I filter out loans where DTI + PTI > 35% (Payment To Income ie DTI including this loan <35%) but I might have to loosen this soon to put more money to work.