Project Insight: Lending Club is a U.S.-based peer-to-peer lending company (www.

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Project Insight: Lending Club is a U.S.-based peer-to-peer lending company (www.

Project Insight: Lending Club is a U.S.-based peer-to-peer lending company (www.lendingclub.com), headquartered in San Francisco, California. Lending Club facilitates both borrowing and lending by providing a platform for unsecured personal loans between $1,000 and $35,000. Through their platform, Lending Club has facilitated more than $53 billion in loans to more than three million customers as shown in Exhibit 11.2.
Lending Club facilitates loans for either 3 or 5 years. There is information available that allows potential investors to search and browse the loan listings on the Lending Club website and select loans in which they would like to invest. The available loan information includes background about the borrower, amount of the loan, loan grade (and related loan interest rate), and loan purpose. Investors finance the loans and make money from interest. Lending Club makes money by charging borrowers an origination fee and investors a service fee.
Required:
Imagine you are the accounting data analyst for Lending Club. You are given the task of developing a diagnostic model of loan repayment as part of the loan approval process. Using a Lending Club dataset and the AMPS model, prepare and clean the data, choose appropriate explanatory variables, run appropriate analysis, and report the results to management. By more clearly understanding the link between initial loan approvals and ultimate loan repayment, Lending Club will be able to make more intelligent loan approval decisions.
Ask the Question: What borrower or loan characteristics (or factors) are associated with loan repayment?
If Lending Club can answer this question, it will help the company determine who should or should not receive a loan in the future. It may also help predict the risk associated with the loan, which will influence the interest rate it should charge (because, all other things equal, the higher the risk of repayment, the higher the loan interest rate for the borrower).
By extension, understanding the borrower or loan characteristics for the repayment of loans and/or accounts receivable is important to any company extending credit.
Master the Data: This real-world data set for this analysis comes from Lending Club. Lending Club provides a summary dataset of the loans extended to borrowers since 2007.
Software Needed:
Excel
Word
Data: LoanStats3a.xlsx
Perform the Analysis: Refer to chapter 11, Project 1 in the text for instructions for the 5 deliverables.
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