A few weeks ago, Lending Club investors received an email notifying them that Lending Club would be introducing a new feature for borrowers on October 6th. We learned yesterday that the new feature allows borrowers to apply for a joint application Lending Club loan. As part of this feature, there are four new fields that are available in the downloaded notes csv files and the API which we have highlighted below. As for information for borrowers, Lending Club posted a knowledge base article on joint applications.
Lending Club Joint Application – Borrower Information
From the Lending Club Knowledge Base:
To qualify for a joint application loan, a number of factors of either or both applicants are considered, including but not limited to, information provided on the joint application, information provided by credit bureaus, credit score(s), income, debt-to-income (“DTI”) ratio, credit history length and recent credit history.