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Topics - SBryantMS

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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

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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. 

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Investors - LC / Inflation / Will LC raise Rates?
« on: May 22, 2014, 03:17:59 PM »
Everything I read says that inflation shows signs of breaking out. 

One of my core assumptions is that Lending Club will raise rates due to inflation to compensate the lender (cost of money).  I expect these rate increases to trail the inflation rate by about  six months.

Currently, LC has been adjusting rates based on <your opinion goes here>.  Some rates have been lowered while others have been raised. 

Do you think that inflation will force LC to raise their lender rates in the future. 

Opinions?

   

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Investors - LC / Christmas Present from Lending Club
« on: December 25, 2013, 11:26:25 PM »
Well Folks my day is complete:

Date                   Type      Description                                                Credit        Debit
12/25/2013   Recovery   Recovered from Charged-off Loan 1022829        $0.02        $0.00

Loan only has another $18.99 to go!

Fred

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Folks:

For all you that thought that partial payments would prevent LC from charging off the note, take a look at this note:

https://www.lendingclub.com/account/loanPerf.action?loan_id=1510380&order_id=0&note_id=13402023

Had it for sale on folio, but not any more.  To me, this is a radical change in policy. 

I will need to move my dogs to Folio sooner and discount harder!

Also, will stop buying dogs that I thought I could flip!

Opinions?

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Investors - LC / Can Lending Club IT handle the July 5th load?
« on: July 04, 2013, 02:30:43 PM »
Time to get your bets down!

On Friday night, LC will have to handle two business days of transactions in 60 hours (Friday night to Monday morning) as well as complete the ongoing End-of-quarter processing!

Who thinks that they have the processing capacity to complete all transaction posting by Monday morning?

Who thinks there will be loans that go into Grace period due to late posting and never get corrected? 

Who thinks FolioFN Friday transactions will not post till Monday night?

Any other opinions on where the Lending Club IT infrastructure may have issues?

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P2P-Picks / Early Payoff Prediction?
« on: June 26, 2013, 06:07:23 PM »
Bryce, 

Have you done any statistical analysis to determine if you can predict if a note will be an early payoff?

Based on reviewing my portfolio, the vast majority of my completed notes were early payoffs.  I have 10% of my portfolio in fully paid status. Of those notes, only 11% ran the full 36 months.

Thanks.   

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Investors - LC / Recruiting Videos
« on: June 22, 2013, 11:28:00 PM »
Interesting recruiting video:

To learn more about the team, culture, and hiring managers, watch our video!

http://ongig.com/jobs/Lending-Club/Senior-Security-Engineer-San-Francisco-CA

http://ongig.com/jobs/Lending-Club/Quality-Automation-Engineer-San-Francisco-CA

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Investors - LC / Chapter 13 -- Proof of Claim filed
« on: June 20, 2013, 04:05:26 PM »
This is a ZERO payment note.  First note that I have ever seen where LC has filed paper work. Anyone else seen this message before?

6/11/13 (Tuesday)    Lending Club filed Proof of Claim (Chapter 13 Bankruptcy)
5/20/13 (Monday)    Charged off. Bankruptcy: economically infeasible to recover
5/12/13 (Sunday)    Borrower filed for Chapter 13 Bankruptcy

https://www.lendingclub.com/account/loanPerf.action?loan_id=3104822&order_id=5641557&note_id=17722526

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Investors - LC / Notes V5 ?
« on: February 22, 2013, 10:01:36 AM »
Looks like LC has changed the column order in the Notes.csv file.  Al the columns are there, they have just moved Issue Date to the end.

Can anyone confirm this change?

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P2P-Picks / Model Questions
« on: February 16, 2013, 07:21:32 PM »
I unilaterally will not invest in some loan categories i.e. Business, Medical, Moving, Vacation or Other. 

I have a bias toward Credit Card and Debt Consolidation.

What effect does this external action have on your model, assuming that I regularly pick loans selected by your model from the other categories?

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P2P-Picks / Suggestions Thread
« on: February 16, 2013, 06:57:13 PM »
I thought I would open the new forum with a suggestion thread.

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Investors - LC / Another One and Done
« on: February 03, 2013, 10:28:10 AM »
While looking through Folio via Interest Radar -- my filter turned up this loan:

https://www.lendingclub.com/account/loanPerf.action?loan_id=1679405&order_id=3606511&note_id=15046264

It started me thinking -- If I had the option of investing in the original note -- I would have -- it passed all my filters!

This loan even passed my eyeball double check!

Is there a red flag that I missed -- or -- as it looks to me -- they were out to game the system from the start?

Thanks

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