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Messages - Erin K

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Investors - LC / Selling notes--how to report
« on: August 05, 2012, 07:56:28 AM »
Does anyone know how we should report notes sold on the Folio Platform when trading from your Lending Club Roth IRA account? Especially if the notes are sold without making a profit.


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Investors - LC / CSV file of available notes
« on: June 08, 2012, 02:35:12 PM »
Hello, I find your idea of downloading the CSV file of available notes very smart and plan to filter my notes this way. I was hoping you could help explain to me one of their column titles not listed on http://blog.lendingclub.com/2012/03/14/expanded-credit-att/.

exp_default_rate  I assume this means expected default rate, but what does it *mean*. Where do the number come from and how can I use it in my filtering process?

Thanks!

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Investors - LC / Re: IRA Minimum
« on: June 08, 2012, 02:02:50 PM »
I had this clarified for me when the requirement was $10,000 by year 2 for a no-fee IRA. As long as nothing has changed I'll relay what I understood: You have a year to the date your money was deposited into your account to have a $5000 balance in order to avoid the fee. This amount does not have to be invested in notes, just in your account. Any interest made on the notes also counts towards the $5000 "goal" (which obviously would require one to invest into notes as idle money doesn't accrue any interest). So, someone could deposit $4,500 on Jan 1 and as long as they've accrued $500 in interest by Dec 31 they will not be charged a fee as their account would be at $5000. However, as with most financial institutions, real people work at Lending Club so you could probably ask your account manager to waive the fee if you really didn't feel like paying it.

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Investors - LC / Re: Borrower deceased
« on: June 08, 2012, 01:23:31 PM »
I keep track of my defaults/charge offs to help me determine a better investment strategy. I can tell you that of the 1000-some notes I have held, only one has been charged off because the member has deceased.

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