The portfolio, worth just over $900 million and comprising loans made to consumers with an average FICO score of about 700, was sold for a premium to the outstanding balance on the loans, one of the people said. The sale was being closely watched by credit markets as an indicator of the health of the market for online personal loans. The loans had been owned by Santander Consumer USA Holdings Inc., the subprime auto lender, which had acquired them as part of an agreement with Lending Club. But last year, Santander Consumer decided to scale back its personal loan business and initiated a sale of the portfolio.

http://www.wsj.com/articles/j-p-morgan-acquires-nearly-1-billion-worth-of-lending-club-loans-1454344739