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"Interest rates were cut yesterday, and that means there's a short term relief for home owners (especially those with adjustable rates), but the long term downfall is the potential for inflation.  No matter which way you look at it, the time is right, according to Lending Club, for alternatives to traditional banks and credit institutions.  \nThe peer-lending network that started out as a Facebook  application has given up some of its performance stats since launching over the summer.  It all looks good.  Based on varied interest rates as determined by the individual lenders on a per-case basis, the ROI is high, and the loss has been low.  With $3,525,660 lent, only $15,865 has been 16-30 days late in payment.  \nTake the numbers for what they're worth.  It's still early in the game, and looking at the chart provided by Lending Club, this is evident; none of the loans have defaulted, and none of the loans have been fully paid back.  Seeing as those that have been hurt the most by the current credit \"crisis\" have been the homeowners and the smaller institutions and brokerage firms, is now really the right time to try and capitalize on the alternative service?  \nThis looks to be the case.  If the price is based accordingly, taking risk and credit score into account, then you'll get some good numbers back for the success of your loans.  And of course, there's more to consider in the US lending market than housing alone.  \nWe'll be checking in to see if Lending Club continues to do well with its peer-lending service, which will be an important factor to come back to as Lending Club has also just released its service nationwide.  Certain states, like Michigan, Illinois, Texas and Nevada could not participate in Lending Club's peer-lending service until now.  This is also important because of the manner in which Lending Club has been expanding its service, targeting existing groups such as alumni  at various universities.\n\n\n\n\n\n"^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2007/12/13/lending-club-performance-nationwide/>