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Messages - SBryantMS

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1
Foliofn - LC / Re: Looking to buy Historic Folio data
« on: August 19, 2018, 11:59:01 AM »
No restrictions on the secondary market.  Doesn't matter where you live.

I originally bought Folio notes until I figured out how to virtually relocate to a state where I could buy new notes.

2
BlueVestment / Re: BlueVestment stuck?
« on: March 11, 2017, 12:13:35 AM »
Yes -- But I have forgotten how I got it going again.  I have BV investing for two accounts. I do remember that the "auto invest" switch was off on one account but on on the other.  BV was not auto investing for either account.

SB

3
Investors - P / Re: payment reversed 2+ months later?
« on: May 23, 2016, 07:22:57 PM »
I didn't find much info at Wikipedia, but I did find elsewhere that there are only three reasons that an ACH debit can be disputed:

1. If it was never authorized by the account holder
2. If it was processed on a date earlier than authorized
3. If it is for an amount different than authorized


All the borrower has to do is call the lender and say "I don't want my bank account debited for future payments." All ACH debits after that date are now officially #1s. 

Better way to state is "1a. All debits after mm/dd/yy were never authorized by the account holder."

4
So.... what exactly is a "borrower account?" To me is sounds like a relationship in name only.

I think the "secret sauce" is that Web Bank has to keep a detailed record of each loan and book the trailing fees to each borrower account.  They will probably report the trailing fees as future earnings and discount those future  earnings based on past performance of each group.  My guess, group will be broken down by year and grade.   

5
From Bloomberg:

LC Advisors, an investment adviser owned by LendingClub that helps people buy loans arranged by the company, said last week in a presentation that some of the debt is “underperforming vs. expectations.” A chart on one of the slides shows that write-off rates for a portion of five-year LendingClub loans were roughly 7 percent to 8 percent, compared with a forecast range of around 4 percent to 6 percent. A similar trend is happening for three-year obligations.

http://www.bloomberg.com/news/articles/2016-02-05/lendingclub-models-misfire-as-loan-write-offs-exceed-forecasts

includes references to PPT here: https://www.dropbox.com/s/gj8asvufafw26ct/LC%20Advisors%20Commentary.pdf?dl=0

6
P2P-Picks / Re: P2P-Picks ends in 1 week. What will YOU do?
« on: June 24, 2015, 09:16:28 AM »
I plan on withdrawing money as payments come in.

If anyone can point me to a filter that utilizes statistical analysis like Bryce then I will be back in.  Seems to me that all the filters currently available are just using data points on a specific loan and not comparing the loan to a statistical analysis of completed loans.   

In the mean time, I will be looking to build my own statical tool and try to figure out how to run the LC API against it.

7
Use your legal residence.  Everything with LC happens electronically.  In my 4+ years, I have never received a snail mail from LC

8
General P2P Lending Discussion / Re: Lenders population breakdown
« on: January 09, 2015, 10:12:38 PM »
Also a Sam's Club member and a Costco member -- does that make me cheap or smart?

9
Interest Radar / Re: Interesting breakdown
« on: January 09, 2015, 10:09:34 PM »
IMHO, here is your problem:
      4. Remaining payment < 58

My 60 month notes have performed worst than my 36 month notes.  I have seen a 3x loss rate for 60's over 36's.  I do not buy 60 month notes anymore.  I don't think that LC's rating compensates for the additional defaults that occur in that group.  Just my observation, other are welcome to disagree.

10
Investing - General (not P2P) / Re: state restriction workaround
« on: October 06, 2014, 12:02:10 PM »
Lending Club did not verify where I live -- no postal contact.  As a side note, it has been reported on this forum that Prosper mails a postcard to the address of record that has an activation code on it.

Can any recent new accounts verify this info?

11
Investors - LC / Re: FolioFN Return Calculation!!!!!!!
« on: September 20, 2014, 12:19:27 PM »


That is correct (nothing to do with XIRR) and screenshots to better explain.

MISSING LINK
I used the "View and customize adjustment" link to reach the adjustment page below. But now when I turn the adjustments on it displays :Adjusted values reflect custom assumptions for past-due notes, and not Lending Club estimates" BUT THE LINK IS GONE. I can't get back to alter them further.

This is called Agile Development -- The IT department throws some crap out on the webpage -- then use customers as unpaid testers of the code.  Only way something gets changed (I did not say fixed) is to complain.  The new IT development model -- short sprints -- fall down -- repeat.  IMO, expect crap to appear regularly -- if you don't like the smell complain.

Have you seen this: http://www.youtube.com/watch?v=GM5DrvOjQn0

I agree. But I know Agile Development and Extreme Programing. I have worked in both environments but the releases still had to go through testing and release review. I think they still have a few organizational holes to fill.

Can anyone give me the URL to get to the adjustment page before it disappears for everyone (except for the HTML jockeys who can always find anything)?

Based on my three years as a "customer" of Lending Club -- I don't think they have a  "testing and release review" process as I see it. 

Everything is crap when first released to the customer.  We ARE the testing department. 

I have also seen bugs reappear when new "changes" are implemented which leads me to believe that they do not have a robust "release control" process.

12
Investors - LC / Re: FolioFN Return Calculation!!!!!!!
« on: September 20, 2014, 09:14:53 AM »


That is correct (nothing to do with XIRR) and screenshots to better explain.

MISSING LINK
I used the "View and customize adjustment" link to reach the adjustment page below. But now when I turn the adjustments on it displays :Adjusted values reflect custom assumptions for past-due notes, and not Lending Club estimates" BUT THE LINK IS GONE. I can't get back to alter them further.

This is called Agile Development -- The IT department throws some crap out on the webpage -- then use customers as unpaid testers of the code.  Only way something gets changed (I did not say fixed) is to complain.  The new IT development model -- short sprints -- fall down -- repeat.  IMO, expect crap to appear regularly -- if you don't like the smell complain.   

13
BlueVestment / Re: The end of BlueVestment?
« on: August 24, 2014, 02:37:15 PM »
Have you considered the alternative:  Buy out the best Third party tool and shut it down.  Non-compete with the original principals. Wait six months and repeat. 

14
Investors - LC / Debt Consolidator Question
« on: August 16, 2014, 06:46:46 PM »
I had a loan with the following collections log:

8/13/14 (Wednesday)    3rd party contacted Lending Club and was unable to pay at this time
8/8/14 (Friday)    3rd party contacted Lending Club and was unable to pay at this time
8/8/14 (Friday)    Borrower engaged with debt consolidator
8/8/14 (Friday)    Borrower engaged with debt consolidator

Does anyone have any experience with a loan after a debt consolidator is involved?

Loan was 60 days past due (i.e. 60 days since last payment).  FICO dropped to 550 and I sold it on FOlioFn for a loss. 

15
General P2P Lending Discussion / Re: What TERM loan do you invest in?
« on: July 19, 2014, 11:53:29 AM »
I am 86% (36 month) and 14% (60 month) notes.

I stopped buying 60 month notes as my loss rates were triple my 36 month note per Interest Radar. 

My early defaults in the 60 month notes increased my principal loss to unacceptable levels.

I don't believe that the higher interest rate on 60 month notes properly compensates for the additional principal loss. 

I ONLY buy 36 month notes now.

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