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Messages - SeanMcD

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Investors - LC / Re: Understanding Your Returns Page
« on: December 06, 2013, 06:38:41 PM »
Users taking advantage of the pre-IGP Folio sales would have a large upwards force in their blue dot. Is that advantage gone these days?

I'll confirm the pre-IGP bump - I'm definitely going to miss that.  Account is about 2 years old, but semi-frequent trading has kept the average age fairly low.

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Interest Radar / Re: New Feature: Collection Log Tracking
« on: November 19, 2013, 09:48:02 PM »
Same here.  I really hope this feature gets fixed - painful to go back to checking logs manually.

Foliofn - LC / Re: Some changes to Folio for Lending Club investors
« on: November 06, 2013, 07:23:33 PM »
From the blog post: "from now on there will be a few days every month where notes will not be able to be listed for sale."

"A few days" is seven or more.  This means that about one quarter of your notes cannot be listed for sale on any given day.  Notes due around the third week of the month are affected in an especially interesting way - you won't be able to put them up for sale for up to a week after the new credit rating updates are published.  A very heavy-handed change, in my opinion.

Interest Radar / Re: Auto-Invest -- most loans are fully funded
« on: September 18, 2013, 06:16:58 PM »
IR do it all through the LC site, no API is involved anymore. (The API was never used to actually place an order, only to list loans.)
The delay to get your order placed, and therefore more loans are fully funded when that happens, is due to the random queue of IR users each time. I'm working on a solution to that.

Rev, are you saying that the issue isn't that the hedge funds are gobbling up the notes faster than LC can nab them, but that the majority of these notes are being gobbled up by LC users earlier in the queue? I'd love to know how much investment LC is responsbile for into the typical D E F notes.

I don't think he's saying that the hedge funds aren't having any effect, he's saying that there's a measurable difference between the number of loans available for the first (randomly selected) IR user and the last.  Hopefully he'll find a way to place orders for multiple accounts in parallel, so that it won't matter where you land in the queue of IR users.

No, I won't claim thoroughness, but I can state that I've put about 25 of these notes up for sale, and all of them that I checked (about half) showed up in Never Late searches.

They did make some kind of adjustment.  The notes with false grace periods show up in a "Never Late" search on FolioFn, assuming there are no other late payments.  That considerably reduces the damage of the false grace periods.

Interest Radar / Re: Funding listings changes
« on: September 06, 2013, 07:31:38 PM »
Very nice changes, rev, thanks!  It's a lot of work trying to keep pace with such a quickly changing environment, but we appreciate it.

Investors - LC / Re: Lending Club Referral Bonus Payment
« on: August 22, 2013, 09:27:01 PM »
Get the full amount invested then email them back.  I've received bonuses after the cut-off date - they seem to have some ability to work around that requirement, if not the amount invested one.

Investors - LC / Re: Why not use an auto-invest service?
« on: August 21, 2013, 07:11:41 PM »
Similar, but I don't have Unknown on auto-invest.  I still check those manually, since there's no information to indicate which attributes are out of the norm or how far they wander.

Investors - LC / Re: Why not use an auto-invest service?
« on: August 21, 2013, 05:54:47 PM »
I use IR's auto-invest, but I've still had trouble keeping up.  The last few days have seen very few successful purchases - lots of "Loan fully funded" emails. 

Investors - LC / Re: Accrued Interest
« on: August 13, 2013, 01:02:25 PM »
Lending Club's monthly and annual summary statements do not include accrued interest in the account total, unlike the value shown on the site.  If you take a snapshot of your account page on the last day of the month, then compare it to the monthly statement when it comes out a week later, you can see that the value differs only by the accrued interest.

Given that the summary statements are meant to be the most accurate record from an accounting/tax standpoint, the inclusion of accrued interest in the account total on the site really does seem to just be an artificial inflation.

Interest Radar / Re: Cash Flow Page
« on: August 09, 2013, 02:42:55 PM »
For tax purposes, I have to be able to separate my interest from capital gains.
So, I track my interest month-by-month on Excel.

Out of curiosity, is the loan interest value shown in LC's monthly and/or year-end statements not accurate enough for this?

Interest Radar / Re: New Feature: Auto Invest (pre-Beta)
« on: August 08, 2013, 02:58:39 PM »
I have been using IR's Auto Invest for a while, and really like it, but I just changed the e-mail address associated with my LC account and cannot figure out how to change the credentials I have saved at IR for logging into LC. How do I change my login info for the auto invest feature? I thought it used to provide entry fields for this at the bottom of the auto invest page, but I don't see those anymore.

Home page, bottom left, there's a section marked Accounts.  Click the 'Link now' text, then the 'Edit' link next to your account on the Account Management page.  There's a section on the Edit Account page for changing or deleting LC credentials.

Interest Radar / Re: Investing in multiples of the same note
« on: August 07, 2013, 02:46:09 PM »
I admit I haven't run any statistics, but for notes that had at least one grace period payment or worse, it certainly seems like the higher the dollar amount of the note the harder it is to sell.  However for perfect payment history notes, the $100 and even $300-500 notes sell quite well.  Better than the $25's.  If I find myself with a $500 note I know I can almost always sell it for 1-2% markup quite quickly as long as nothing's wrong with it.

This matches my experience pretty well.  Loans with no payment issues and with FICO trending up sell very well no matter what the denomination.  Loans larger than $25 with a previous Grace Period or with a down-trending FICO are more difficult to sell than their $25 counterparts - I generally have to set the markup/discount a point or two lower before they move.

I don't know that it necessarily means lower rates.  I interpreted that line as "We'll get less phone calls from borrowers who want to know why their rate was so high when their FICO was good."

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