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BRIEF-Lendingclub announces updated loss forecasts, changes to credit, interest rates

Oct 14 Lendingclub Corp

* Announcing updated loss forecasts, changes to credit, interest rates as part of regular and continuous adjustment process

* Anticipate loans originated in H2 and going forward to benefit from changes to co's credit policy and co's interest rates

* Effective October 14, 2016, interest rates on the Lending Club platform will increase by a weighted average of 26 bps

* Rate increases are concentrated in grades F and G with marginal changes in other grades

* Lendingclub - About 1 percent of borrowers who previously would have been able to obtain a loan under prior underwriting criteria will no longer be approved

* Lendingclub - Interest rates on co's platform increased by weighted average of approximately 135 basis points from Nov. 2015 to June 2016 - sec filing

* Lendingclub - Interest rate increases from Nov. 2015 to June 2016 were concentrated in grades D through G - SEC filing Source: (bit.ly/2e7Y1pE) Further company coverage:

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