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Topics - edward

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30 Peer-to-Peer Lending Experts Reveal Their Top 3 Investing Tips

“If you could only give a novice peer-to-peer lender 3 tips for successful investing, what 3 tips would you give?”

#1 Diversify your loans/Spread your money over many loans – 16 votes
#2 Do your homework/research – 12 votes
#3 Invest in an IRA– 5 votes (* this particular tip was strictly from the US experts & applies to US lending only)
#4 A. Reinvest your returns, don't let returns sit idle – tied with 4 votes
       B. Use automation to invest/reinvest – tied w/ 4 votes
       C. Make loans on various platforms – tied w/ 4 votes
#5 Prepare yourself for limited liquidity – 3 votes

Of course, Peter Renton, is in the list of experts!

Interest Radar / Invalid Note or Order Specified
« on: June 24, 2015, 08:06:50 PM »
When using Interest Radar to search Folio notes via numerous strategies, I click on the note number and instead of taking me to the loan history page in Lending Club, my LC account summary page appears with the notation "Invalid Note or Order Specified" within a red shaded bar. I'm not placing an actual buy order, simply having IR call up the note page in LC.  I can only guess that something has happened with the linking between IR & LC--but the error message in LC is something I've never seen either (sorry I don't know how to post an actual screen shot of it here.) I also haven't had a new note purchased by IR with any of my strategies since 6-20-2015. Has anyone else noticed any of these odd behaviors?

Investors - LC / Effect on ANAR when dealing with distressed notes
« on: June 09, 2015, 10:03:13 AM »
Refresh my memory -- when trading in distressed notes on Folio, I seem to remember discussion on here that the Adjusted Net Annualized Return (ANAR) does not accurately report that, since it doesn't account for the gains from the sale. Thus, I seem to remember that some members with significant distressed notes volume were reporting decreasing and even negative ANARs. Do I have that right? Thanks.

"Notice sent to borrower: automated monthly payment failed due to account issue"

Is this another kiss of death, like "payments will be mailed?" What has been your experience?

Would you view it differently at the start of the note repayment process (just working out the routing/account number) as opposed to mid-stream ("hey your borrower just closed their account...good luck.")

LC clearly labels when lack of payment is due to "non-sufficient funds" so it shouldn't be the same as that.

Investors - LC / Another example of "late note" that is not late
« on: January 14, 2015, 07:51:27 PM »

Looking at my late notes, I was surprised when I looked at the payment history of this note. It showed recent payments but also a notation that the same payments were not received. I sent LC an email on this, and received a phone call back last evening.

They said it was an error, and was the result of an incorrect late fee being assessed when the payments had in fact been received. I was told that when the borrower didn't pay the late fee their computer system showed the loan as being late. But they assured me that the error would be corrected with the overnight computer processing run.

Well the note is still showing late a day later and the payments are still there along the "payment not received" notation.

Just a reminder to those who automatically sell their late notes to be sure and look at the actual history of the note to ensure it's actually late.

I also note that it's on a "payment plan", which is probably just the regular LC way of trying to draft the account later when a payment isn't received. I bet the borrower is going to be surprised when an unexpected bank draft of his incorrectly flagged "late" account occurs.

Interest Radar / Auto Invest / Auto Sell Not Working?
« on: January 15, 2014, 07:58:52 PM »
Auto Invest and Auto Sell in IR don't seem to be working for me for about the last week or so. Are they working for others?

I also notice that some of of my strategy investment models are showing IRR of 0.0% in the "My Strategies" window on the right side of the main screen, but when I actually click on the stragtegy, the IRR is in the strategy edit screen. In the past, this seemed to happen when LC changes their note download file. Have others noticed the same thing with any of their strategies?

And not to turn into a rant, but anyone heard from Rev in a while?

Interest Radar / Avg IRR higher than base interest rate?
« on: December 25, 2013, 11:17:37 AM »
I've noticed that on a number of my filters, the Avg IRR for a some elements, when looking at "filter breakdown" are higher than the base interest rate. I don't understand how the anticipated IRR could be higher than the base interest rate being charged. Can you help me understand this?

Interest Radar / Rev, Run Auto Invest more frequently?
« on: December 21, 2013, 07:21:27 PM »
Hi Rev,
As a suggestion, think about running Auto Invest more frequently. As has been pointed out on this forum, numerous loans are appearing to be put into a basket, inspected and then released back shortly after feeding times. Also, notes are being released by LC at additional times other than their normal release  times. If you would run Auto Invest several times about 5 minutes apart after feeding times, and then at least once per hour, I bet you'd cature more loans for your subscribers. I know I've frequently seen loans which were on my auto invest list other than at normal release times. Thanks for all you do.

Investors - LC / 640-659 FICO applicants follow-up
« on: November 26, 2013, 08:34:56 PM »
Here is Peter's great article on the new lower FICO test batch of loans to select institutions
Here is a great article from Orchard which besides being an interesting read, supports the great credit demand from these 640-659 FICO applicants.

General P2P Lending Discussion / Interesting Blog from Birchmere Advisors
« on: November 26, 2013, 08:12:02 PM »

I found this a very interesting blog from a P2P investment firm. Many of the concepts mentioned are ones that have been brought up on LendAcademy forums.

Interest Radar / Last update?
« on: August 29, 2013, 09:04:25 AM »
My last update on IR for Folio analysis is 6pm yesterday (ET). Anyone else noticing non-current updates?


Lending Club to Attempt New Transpacific Sailing Record

SOURCE Lending Club

Lending Club CEO Renaud Laplanche and eight crew members to compete in Transpacific Yacht Race

SAN FRANCISCO, June 25, 2013 /PRNewswire/ -- Lending Club ( today announced that it has partnered with Tritium Racing to attempt a new Transpacific Yacht Race record next month on board a 73-foot offshore trimaran, now named "Lending Club." The Transpacific Yacht Race (Transpac) starts off Point Fermin near Los Angeles and finishes off Diamond Head Lighthouse in Honolulu, a distance of 2,225 nautical miles (2,560 miles; 4,121 kilometers). 

First raced in 1906, Transpac is one of yachting's premier offshore races and attracts entrants from all over the world. The current race record was set by 86-foot catamaran Commodore Explorer in five days, nine hours, 18 minutes and 26 seconds. More than 60 boats will compete in the 2013 race starting July 8.

"We are very excited to compete in an event as prestigious as the Transpacific Yacht Race," said Lending Club CEO Renaud Laplanche. "Transpac has an incredible history, and I'm honored to become a part of it, and especially with such a world-class crew. In 1906, the winner took 12 days to complete the course, and better technology has enabled new records every few years, to the point that this year we hope to complete the race in less than five and a half days."

Lending Club and Tritium Racing have assembled a team of highly accomplished sailors including America's Cup winners John Sangmeister and Gino Morrelli, four-time 505 World Champion Howard Hamlin and New York - San Francisco World Speed Record holder Ryan Breymaier.

The Lending Club trimaran is a former ORMA 60 lengthened to 73 feet and enhanced with a new foil system designed to make the boat faster and more stable at high speed.   

About the Transpacific Yacht Race
With 44 races starting in 1906, the Transpacific Race is the longer of the two oldest ocean races in the world. The race was inspired by King Kalakaua who believed that such an event would strengthen the islands' economic and cultural ties to the mainland. Clarence MacFarlane, a Honolulu racing sailor, invited several contemporaries in San Francisco and Los Angeles to race to the Hawaiian Islands. The race was scheduled to start from San Francisco in the early summer of 1906, but when MacFarlane sailed into San Francisco Bay he found the city lying in ruins following the great earthquake 27 days earlier. MacFarlane donated supplies to the city and changed the starting point to Los Angeles, and except for one nostalgic return to San Francisco for the start in 1939, the race has started from LA ever since. The starting line is now off the bluffs of Point Fermin in San Pedro and the finish is off the Diamond Head lighthouse just east of Honolulu, establishing a distance of 2,225 nautical miles.

About Lending Club
Lending Club utilizes technology and innovation to reduce the cost of traditional banking and offer borrowers better rates and investors better returns. Over $1.9 billion in personal loans have been issued through the Lending Club platform, which has more than doubled annual loan volume each year since launching in 2007.  The Company has been prominently recognized as a leader for its growth and innovation, including being named one of Forbes' America's Most Promising Companies in 2011 and 2012, a 2012 World Economic Forum Technology Pioneer, and one of The World's 10 Most Innovative Companies in Finance by Fast Company in 2013. Lending Club is based in San Francisco, California. More information is available at: Currently only residents of the following states may invest in Lending Club notes: CA, CO, CT, DE, FL, GA, HI, ID, IL, KY (accredited investors), LA, ME, MN, MO, MS, MT, NH, NV, NY, RI, SC, SD, UT, VA, WA, WI, WV, or WY.

About Tritium Racing
Tritium Racing acquired an ORMA 73 as a platform to set several Pacific Ocean race records. The boat is a modified ORMA (Offshore Racing Multi-hull Association) 60 now lengthened to 73'. The team will set sight on the Transpac elapsed time record in July 2013 with an exceptional crew including Ryan Breymaier, Howard Hamlin, Renaud Laplanche, Gino Morrelli, Will Oxley, John Sangmeister, Peter Stoneberg, Jay Steinbeck and Jacques Vincent.

Interest Radar / "No Payment Plan" Filter
« on: June 15, 2013, 01:47:42 AM »
What's the formating of the Operation to set a custom filter to avoid having Folio notes come up that are on Payment Plan?

Investors - LC / Net of Defaults and Fees?
« on: June 14, 2013, 07:25:32 PM »
"Net Annualized Return per grade net of defaults and fees from inception to May 13, 2013. Prospectus filed with the SEC."

I've always thought of "net of" as meaning "taking into account." On a real estate investing forum site, a clearly anti-LC poster commented that "net of default" means "not counting defaults."

Which is it?

Interest Radar / Buying Notes on Folio
« on: June 14, 2013, 06:56:13 PM »
I've read the Interest Radar forum, rev's instructions, but still can't get the buy notes using  IR to work. Can somebody post a step-by-step quick guide for me. I'm logged into Lending Club and on the Folio page, and logged into IR. I use the filter in IR to select the notes, again choose login to Folio on the IR results, and choose the note I want, and hit buy. Folio page shows "0 notes selected." I must be missing something somewhere. Thanks.

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