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Messages - Voj

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Investors - LC / Re: New Platform
« on: July 09, 2018, 01:31:44 PM »
I've sent them the nastiest email when this change rolled out. Rolling out an untested interface change is just plain sloppy. It has poor design written all over it. Who in their right mind thought combining LoanID and NoteID into one column was a good idea.

LC wants to be next generation then let users select their own columns to display and save the changes to a profile so investors can pick what we want to look at instead of being forced to look at some amateur attempt at a nice UI design, which in the end is useless.

Engineers are working on a fix...that fine, roll back the old interface, test the new UI internally and correctly, and then roll it out slowly to a small set of users, get feedback, iterate, etc.

Hopefully they are monitoring this thread. I didn't realize that a new CTO is running the show and that makes perfect sense that he needs to show some kind of change for the better in the first 100 days, but like I said in the email I sent to them. They took one step forward, then two steps back and shot themselves in both feet.

I have a feeling they are calling this an accomplishment because they released on time...they released junk on time. I forget the exact quote, but it goes something like "release late, no one cares, release junk, no one forgets".

Really embarrassing.

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Foliofn - LC / Re: New to Foliofn - Is this note good
« on: October 23, 2015, 03:13:44 PM »
From an initial acquisition perspective, it'd be a good note to buy. But look at it from a FICO behavior perspective, it went from a 675 FICO to 605 in a matter of 7 months and it is still trending down. That is a major red flag and a pass from me.

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Foliofn - LC / Re: Folio Scanner Software
« on: June 23, 2015, 09:06:44 AM »
I built my own software. My guess is that people have homebrewed software but are keeping it under wraps since FolioFN is a gold mine.

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Investors - LC / Terribly Slow ACH Transfers
« on: June 17, 2014, 05:52:03 PM »
The fact that investor money transfers take 4 days and borrow payments take 4-6+ days to post is really a huge downfall for Lending Club.

Lending Club should really ditch the third party service provider and figure out a way to speed up money transfers.

The standard ACH service is next day and any sort of transfer done before a cutoff time should be reflected the next morning.

Any thoughts?

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I've looked but did not find anything good. Had to go to the custom data mining route and import all the data into my own platform. I don't want to give away all my secrets but I wouldn't worry about the change in FICO score, there are more important metrics you can use to determine a good or bad loan.

Let the other guy worry about it and sell the note for a discount so that you can scoop it up for a profit. Something as small as a rise in credit balance can lower a credit score. I wouldn't worry to much about it.

I get a kick with finding people who are trying to commit robbery by marking up a note 500% with only $.01 principal on it. On the other hand, there are some real gems out there with no late payments but have gotten the investor spooked because the FICO score went down a few points so they sell the note for a 5% discount but the YTM is 25%.

Loans in grace periods sell like hot cakes. I've seen them marked down 30% and they are gone in minutes.

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