Table 2.
Loan status by each year
| Number of loans by Status | |||||||
|---|---|---|---|---|---|---|---|
| Charged off | Current | Default | Fully paid | In grace period | Late (16–30) | Late (31–120) | |
| 2007 | 38 | 175 | |||||
| 2008 | 124 | 689 | |||||
| 2009 | 406 | 2882 | |||||
| 2010 | 1131 | 7092 | |||||
| 2011 | 2351 | 12,826 | |||||
| 2012 | 6,254 | 32,025 | |||||
| 2013 | 14,895 | 79,938 | |||||
| 2014 | 28,471 | 2685 | 128,360 | 48 | 23 | 110 | |
| 2015 | 55,321 | 3 | 217,810 | ||||
| 2016 | 44,662 | 41,497 | 2 | 172,906 | 681 | 294 | 1804 |
| 2017 | 39,797 | 128,248 | 98 | 131,319 | 2169 | 867 | 4025 |
| 2018 | 19,813 | 159,716 | 152 | 64,961 | 2581 | 825 | 4093 |
| Total | 213,263 | 332,146 | 255 | 850,983 | 5479 | 2009 | 10,032 |
This table provides summary statistics on the data set used for the empirical analysis. The data covers all loans issued from LendingClub between July 2007 and September 2018. The status of loan by each year is reported in the table. According to LendingClub, a loan becomes "Default" when borrowers miss payments for an extended period. Charged off is a loan for which is no longer a reasonable expectation of further payments, and it occurs when borrowers are 120 days or more past due