Comments on: Lending Club’s loss-rate numbers A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 By: Strych09 Tue, 08 Feb 2011 23:27:31 +0000 it’s a tangent, but I’ve heard anecdotes substantiating this phenomenon in some neighborhoods in California, where the residential mortgages without verified income (the infamous NINJA loans) are performing better than ones where income/employment was verified. And in a lot more cases than you’d imagine, the reason the borrower couldn’t substantiate income was because they were a black market marijuana dealer or grower or wholesaler or distributor, so they had the cash flow to make mortgage payments but not a legitimate job that they could declare to the lendor and hence the government.