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Messages - pplinvestor

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Investors - LC / Re: IRA Notes sold- what next?
« on: August 06, 2018, 01:01:00 AM »
@dr.everett and @lascott,
May I ask when was last Charged off note?  Any way to find out recovery from which charged off note?  Wonder whether you're getting recovery notes from notes charged off many months ago.

Investors - LC / Re: My ANAR is down over 1% in less than a month...
« on: June 24, 2016, 12:52:10 AM »
People can't manage their credit, somehow know who was CEO of LC and that CEO was kicked out and then decided to stop make payments on their loans.
Hack, I did not even know LR was kicked out until I checked this Forum.

Investors - LC / Re: WT*????????????????????
« on: June 18, 2016, 10:16:45 AM »
can you discount more?  The amount of discount on available notes seems lower than what I was able to find 5 months ago.

Investors - LC / Re: Can someone explain this to me??
« on: January 16, 2016, 03:17:39 PM »
hfguy: you said, "I am simply trying to hear some stories,..."  Here it is.
I have two accounts, one Taxable and another IRA.
I stopped invest and have been pulling my money out the Taxable account since September 2013.  >90% of fund in this account has been pulled out.  Net Annualized Return has dropped from >10% to 8.45%.  Don't expect drop much further. 
For IRA account, I stopped putting new money since September 2013, but only stopped reinvesting payments since October 2014.  Net Annualized Return has dropped from >10% to 9.22%.  Expect to drop further to low 8%. 

Reason to stop invest P2P:
1. Too much work to monitor all those loans. (I am not software geek to automate all those things).
2. Can get >8% return from other safer loan investment with much less work.

I lend against properties, secured by Deed of Trust.

Investors - LC / Re: Have notes in grace period. Now what to do?
« on: September 13, 2015, 12:57:18 PM »
Go to Folio to see what price others are selling for notes in grace period.  Then, you get an idea.

Investors - LC / Re: Bunch of Recovery Fees today (Sun 29Aug2015)?
« on: August 29, 2015, 08:12:11 PM »
I noticed Recovery Fee used to be 1% of recovery (from my monthly statement).  And now, it is 30% of recovery (from account detail page). 

Investors - LC / Re: A New Record?
« on: July 12, 2015, 02:19:15 AM »
Using HELOC to pay mortgage can save money and have risks that I'd think us lenders here are capable to manage.
If HELOC interest rate is lower than mortgage, you save on interest.
You deposit any incomes in any day to HELOC account and immediately reduce the loan balance and reduce interest, since HELOC interest is compound daily.  (By the same token, I pay my mortgage at the last day since interest is compounded monthly.  No need to pay early).
Risks can be manage by not maximizing HELOC.  The available HELOC fund is my rainy day fund.

On the point of bank balance as indication of credit worthless, I can say it will limit smart consumers like me.  My bank balance is always near zero.  Why put money in banks earning 0% interest?  I use HELOC as psudo-checking account.  I can understand Business accounts are different and are always better off with enough balance and positive cash-flow.

Investors - LC / Loan posted more than 1.5 days after submitted
« on: June 27, 2015, 09:12:48 PM »
Last couple days, I noticed there are no more notes submitted within 4 hrs before feeding time.  Instead note released to platform at 6:00pm on 6/27 are loans submitted on 6/26 6am.  Is LC doing more due diligence before releasing to the platform? 

Investors - LC / Re: The thread for unashamed griping
« on: June 26, 2015, 08:42:28 PM »
Did you hear back anything from LC? 
I have the same issue.

Borrower is over 30 days late and "Borrower requested that Lending Club cease and desist all communications" is noted in the collection log.  Did Lending Club cross the line in its collection efforts?  I saw several notes having the same log entry recently.  At the time like this, I feel like I'd better be a Borrower, instead of lenders.

Investors - LC / Re: Lending Club to Offer Super Prime Loans!
« on: November 20, 2014, 03:48:43 PM »
At 3.99%, it may make sense for us to make a spread... Borrow at 3.99% and lend out at 10%+
I would not do at 6.03%.  With fees and defaults, spread is too small for default risk taken.

Investors - LC / Re: Borrower Deceased
« on: November 19, 2014, 01:43:11 AM »
LC back dating is known fact.

I received the resent message.  Still the same.  Link to the setting page.

Investors - LC / New IRA Agreement for Folio trading?
« on: November 14, 2014, 05:03:06 PM »
Any one seen new Folio IRA agreement? 
I have been selling non-performing notes in my IRA account for last two years.  Even though there are many discussion on this Forum that Lending Club no longer allow IRA account to trade notes on Folio, Lending Club never contacted me to inform me the new rule and never blocked my trades on Folio.   Just this week, when I click the Trading Account link, it pops up new Folio Agreement and Folio IRA Agreement.  Anyone seen it?   My interpretation is that (without reading 10+ pages long agreement), with Folio IRA, the money will never leave IRA account.  It will move from Lending Club IRA to Folio IRA and back and forth to make perfectly legal to trade notes for IRA account.   Anyone thinks otherwise?  Thanks.

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