January 23, 2015
In this exclusive in-depth analysis, a loan expert sat down with our analytics team and analyzed loan data of Lending Club to gain insights on the company's lending services. In this article, we are covering various aspects specific to loan applications as observed for Lending Club.
How the length of employment of a banker can affect loan application of the customer?
A majority of loan applications are rejected by employees who have been in the firm for less than a year. 84% of loan rejections were made by such employees. The probability changes if the employee has been in the bank for more than 10 years. There is a high probability that the employee of a seniority level will grant the loan. Around 34% of accepted loan applications can be attributed to employees who have been in t ...