LC no longer invests any significant amount of own money in loans. See https://www.peercube.com/blog/post/11 for the analysis. IMO, it is negative that LC no longer has their own skin in the game as their interests are no longer aligned with lenders on their platform. Most of the recent policy changes, for example loosening the credit quality and charging lenders to pay for collection and charging lenders for first few days of interest to LC's loan originator, seem to reflect this dissociation.
Comments
LC no longer invests any significant amount of own money in loans. See https://www.peercube.com/blog/post/11 for the analysis. IMO, it is negative that LC no longer has their own skin in the game as their interests are no longer aligned with lenders on their platform. Most of the recent policy changes, for example loosening the credit quality and charging lenders to pay for collection and charging lenders for first few days of interest to LC's loan originator, seem to reflect this dissociation.