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Messages - SeanMCA

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Does anyone have a copy of a 2018-era investor presentation? The most recent one I have is from DLI is from early 2017.

Introductions / Re: Members' Thoughts and Experience with StreetShares
« on: March 20, 2019, 11:17:27 PM »
I put money into StreetShares almost 3 years ago and pulled the money back out almost immediately when I saw obvious and glaring red flags. Caveat Emptor.

Investors - LC / Re: Credit for Ineligible Loan
« on: June 17, 2018, 01:49:10 PM »
I got a $0 credit for an ineligible loan as well. I haven't even purchased any notes in over 2 years.

Investors - LC / Re: Worst Month Yet
« on: January 17, 2018, 10:52:06 PM »
Down to my last few notes.  When I get those gone, I won't be back.

Good luck on whatever journey you go on next.

Investors - LC / Re: Worst Month Yet
« on: January 07, 2018, 06:14:18 PM »
I finished with a negative return for the year on Both Lending Club and Prosper. Just terrible.

Investors - LC / Re: Dear LC
« on: December 03, 2017, 10:02:27 PM »
They're back to advertising how it's virtually impossible to lose money again.

Of course the buried footnote says that doesn't include F or G notes. I guess since they just stopped offering those notes, they think it's ok to pretend previous losses to investors never happened. It's misleading at best but I think it's more securities fraud than anything else. Lending Club's management has been made up of just the worst kind of people.

Investors - LC / Re: Dear LC
« on: November 17, 2017, 03:29:17 PM »
No doubt 2015 and 2016 are bad vintages.

I guess what I do not understand is how low of a return is LC willing to advertise before something changes.  I am referring to the banner they post all over the place.  Attached.

It used to say 8-10, then 7-9, then 6-8, then 5-7 and now 4-6.  How low will they go, before they realize people are not willing to invest in this asset class for that return.

My question is... the banner says "solid" returns. Are they really that solid?

Investors - LC / Re: Worst Month Yet
« on: November 05, 2017, 03:14:38 PM »
I had a negative month too. Will definitely finish negative for the entire year.

Investors - LC / Re: Trolling Lawyers on Facebook
« on: October 14, 2017, 01:52:24 PM »
The image used on their Prosper page is a photo that I took with my cell phone at a trade show:
Nice copyright violation.  :(

My guess is that this company is running a debt settlement scam. They have popped up everywhere in the online business lending space. Basically there are websites and "lawyers" that contact borrowers and tell them that their loan was illegal and to divert all their future loan payments to a supposed escrow account while they attempt to wipe away their debt or settle it for pennies on the dollar. It's just a scam and this website employs the same routine. That's why they're asking about how much credit card debt the borrower has. It's so they can supposedly enroll all the debt and get it wiped away or settled. The "escrow" money is then all stolen by the scammers and the borrower is left even more screwed. Eventually the company changes its name when too many complaints roll in.

Edit: Prosper employees if you're reading this, that photo was swiped from my website without my permission. I have nothing to do with American Validation.

Investors - LC / Re: Suspicious loans
« on: October 11, 2017, 01:01:51 AM »
Pay these suspicious loans no mind folks because right now you have a limited time to earn 1 MileagePlus award mile for every $1 you invest that's double the previous MileagePlus offer of earning 1 award mile for every $2 you invest on LendingClub!

Don't miss out on earning up to 100,000 award miles that's enough for four roundtrip domestic economy Saver Award tickets!** This double MileagePlus offer is only valid from October 9, 2017 through January 9, 2018

See, 700+ FICO, six-figure-earning straight rollers don't seem so bad now, do they?

Investors - P / Re: Worst Month Yet, Prosper Version
« on: October 08, 2017, 05:09:05 PM »
Yes, I'm negative YTD in Prosper just like Lending Club.

Investors - LC / Re: wide range of FICO scores for A loans
« on: October 04, 2017, 09:55:08 PM »

Yes, there is a wide range of FICO scores present within each loan grade.  Last year I did a little analysis of this and was shocked by the spread.  Here's the chart I made.

By the way, here's an old long thread about this:,4149.0.html

Investors - LC / Re: Worst Month Yet
« on: October 03, 2017, 06:23:22 PM »
Got my Sept statement. I still have a net loss YTD. Kind of sucks.

Investors - LC / Re: LC Email: "The Next Generation Credit Model"
« on: September 25, 2017, 04:28:15 PM »
Now that I think about it, someone I know just refi'd their student loan to an online student lender. They were given two choices from the lender, a long term loan and a short term loan. The long term loan had a lower interest rate (maybe 75-100 bps if I recall). The loan amount was the same and there were no prepayment penalties. I told them to take the longer one and pay according to the shorter one's schedule. He had to call up the lender in advance to make sure there wasn't a catch and there wasn't. 

Investors - LC / Re: LC Email: "The Next Generation Credit Model"
« on: September 20, 2017, 01:08:21 AM »
I guess this is why they just hired Anuj Nayar to be their new PR expert. It looks the investor community needs more convincing about how great everything is.

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