Lending Club

[Anonymous]

Have had a lending club loan for about a month, made one payment thus far.  Was just pre approved for mortgage for 170k FHA (already have a thread about mortgage loan) with about 43% DTI ratio.  I have heard that lending club does not show up on your CR and the lender did not figure this loan into my DTI (if did my DTI would be to high for mortgage).  Main reason my DTI is so high is because of student loans, have about 70k only pay 198 a month but they used my payments at around 500 per month.  Just wonsdering if anybody has had any experience with lending club and seeing if they report or not?

[iv]

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@Anonymous wrote:

Have had a lending club loan for about a month, made one payment thus far.  Was just pre approved for mortgage for 170k FHA (already have a thread about mortgage loan) with about 43% DTI ratio.  I have heard that lending club does not show up on your CR and the lender did not figure this loan into my DTI (if did my DTI would be to high for mortgage).  Main reason my DTI is so high is because of student loans, have about 70k only pay 198 a month but they used my payments at around 500 per month.  Just wonsdering if anybody has had any experience with lending club and seeing if they report or not?

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Doesn't matter if a loan isn't on your credit reports, the payments need to be disclosed to the LO, and included in your DTI.

Failure to disclose is mortgage fraud.  Don't go there.

[Curious0ne]

Lending Club reported on all 3 CRB for me.

[Anonymous]

Did not know that.

[Anonymous]

Curiousone how long did it take?

[Anonymous]

I also pay a medical bill 120 a month for 11 months, do I have to submit that?  I also pay a collection agency 75 a month and owe 1300 but they do not have it on my CR...do I have to submit that?  If so, I am screwed!

[Anonymous]

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@Anonymous wrote:

Have had a lending club loan for about a month, made one payment thus far.  Was just pre approved for mortgage for 170k FHA (already have a thread about mortgage loan) with about 43% DTI ratio.  I have heard that lending club does not show up on your CR and the lender did not figure this loan into my DTI (if did my DTI would be to high for mortgage).  Main reason my DTI is so high is because of student loans, have about 70k only pay 198 a month but they used my payments at around 500 per month.  Just wonsdering if anybody has had any experience with lending club and seeing if they report or not?

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LC took about 60-90 days to appear on my CR's and it was included in my DTI

I have had LC for about 8 months

I would be very transparent with my LO and avoid any surprises prior to closing

[nettie]

i took out a loan with Lending club in Nov. 2015.  It didnot start reporting until Jan 2016.  The loan is being reported on all three credit bureaus.

[Anonymous]

Good thing I'm not one of your lenders.

[Rindy]

Have a lending club loan also, it reported about two months later.