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Investors - LC / I'm thinking of pulling the plug on this experiment
« on: February 11, 2017, 10:03:19 PM »
For the 4 years I've been in LC, I've recorded my Friday account value.  Today, I made a chart of the year over year percent return, and it's really trailing off.  Now below 6% over the last 52 weeks.  I attached the chart.  Anyone else chart their returns, and seeing anything similar?

Investors - LC / LC stock spikes on Citigroup talks
« on: May 27, 2016, 04:32:20 PM »
Saw today the stock was up on talks of a deal with Citigroup.  I don't own the stock, but the low price is troublesome.

I know it's anecdotal.

I've been here for 3 years, and when I go back and look my order history, the number of loans that issued vs. non-issued seems to have changed.  These days, it is rare IMO for a loan to not issue once funded.  Back then, I'd say about 20 to 25% didn't issue, and got pulled, withdrawn, or cancelled by LC.

Anyone else notice this, and if so, what does it mean?  Is LC pre-screening?  Less screening?  Loosening their requirements to get more origination fees? 


I did a little math, on a sample of orders from 2013, 44% "expired" without issuing.  A recent sample from 2016, only 10% expired.

Collection Log:  "Borrower informed Payment Solutions specialist that payments will be mailed"

I've only seen this posted once before, but I just got another one.  In both cases, it was a "current" loan, never late, with FICO holding up ... this was the first and only collection log post. 

The last time I saw it, it was followed a few days later by Bankruptcy notice.

What's your experience with this?  Should I be worried.  Sell it first chance I get?

« on: December 04, 2014, 08:19:51 PM »
When I checked my emails today I see something odd.  At each feeding time, I got an email that looks like this:

Loan ID    Strategy    Amount    Status
34593584      $0 of $25   INSUFFICIENT_CASH
36950321      $0 of $25   INSUFFICIENT_CASH

Available cash before investments: $28.65

Note that it says $28.65 available, but did not purchase an available note.

I got 4 emails in a row, going back to 1AM, all showing $28.65 available, but also showing the same "Insufficient Cash" error message.

Anyone else seeing this?  Perhaps related to the API switch over?

Interest Radar / Custom Filter Options
« on: September 14, 2014, 12:03:05 PM »
Hello, I signed up for the free 30 days of IR, and I was wondering if the IR includes a common filter that I've used:

"Montly Payment / Monthly Income < X", where X can be set to something like 0.10.

If it's there, I can't seem to find it, and I really like that one.


Investors - LC / 8/23 loans still in "pending", not IGP.
« on: September 03, 2014, 07:52:17 AM »
I noticed today that I have two 11 day overdue notes from 8/23 that are still listed as "current" and "pending" rather than "In grace period", as I'd expect them to be by now.  I think the rest of my 8/23 notes processed last Thursday.  Never seen this before.  Any thoughts?

Investors - LC / I got my first ever "recovery" payments today.
« on: August 29, 2014, 03:01:43 PM »
One was for a loan that went into bankruptcy owing $22.41.  I got $0.02.

The other was for a loan that never paid a single penny.  I got $10.42 on $75 owed.

Those are actually my only two charge offs at this point, although I have 4 more that look like they are headed that way.

Has LC ever explained what a recovery means?  Are they actually getting money out of these deadbeats, or are they selling the loans to 3rd parties and passing some of the proceeds on the us?

Investors - LC / LC may have fixed their false IGP problem
« on: July 25, 2014, 07:25:33 PM »
About half of my 7/19 notes did not process/post payment yesterday.  It seems like they started to run the payments then stopped about half way through.  This is the situation that in the past has resulted with false "Grace Period" comments being posted when the notes caught up the next day.

I checked today and I see the rest of the 7/19 have processed, and I can see some of the 7/19 notes have payments posted as 7/24 and some as 7/25, but there are no Grace Period notices that I see. 

Peer Lending Server / Did Lending Club break PLS's API again?
« on: June 11, 2014, 02:44:44 PM »
After the new loan list is detected, and downloaded, I get an error message "No available In-Funding Notes".  I checked the logs and this has happened at both of today's downloads ...  Not sure about yesterday because I had less than $25 to invest yesterday.

Peer Lending Server / Filter Analytics question
« on: April 04, 2014, 09:29:56 PM »
When the filter analytics says the number of loans that meet your criteria is, say, 350, from what pool is that drawing from?  350 out of how many?  Does that mean that only 350 loans meet that criterea since the beginning of LC's available note file?  Is there a cut off date that it looks back?

I assume the lower that number, the less likely it is that I'm going to get any newly issued notes that meet my filter.  I normally have that number at around 1000, but I recently tightened up my filter because with the influx of the large number new notes we are now seeing, it seemed like my notes were getting a little riskier than I'm used to.


Investors - LC / Building an API
« on: January 06, 2014, 02:06:37 PM »
I really had no intention of building an API when I asked LC to activate my API.  But after reading through the Docs they sent, they suggested downloading a program called SOUPUI to test your request/responses.  I was interested, so I gave it try.  After playing around with that, and getting it working with my account, I noticed there was a "generate code" function in the pull down menu of SOUPUI, which spits out a huge VB file (I choose VB, other languages were an option) that seems to have coded all the request/response routines.

Anyway, I don't know if anyone else has gone this route, but if you are interested in programming API, and have programming skills (I have very little), it looks like this will get you about halfway there.

Investors - LC / My first potential loser
« on: January 05, 2014, 04:07:43 PM »

What do you think of this one?  B1 with high FICO and perfect credit history, and low payment to income ratio ... The 3rd party service I use gives it a very high rating ...

It's my first loan ever to go 16 days late, has two payment failures, and it appears LC can not contact the borrower, two skip traces, all on the first payment...

I didn't really see any red flags here.  Looks like there is another payment attempt scheduled for tomorrow.

Investors - LC / Loan count dropped off quite a bit today
« on: December 31, 2013, 04:26:33 PM »
My log shows 383 at 9AM today, 341 at 1PM, and 69 at 4:24. 

That's quite an unusual drop, I haven't seen it this low in a long time.  I wonder if this is a real drop or a server error. 

Peer Lending Server / A suggestion for increasing speed
« on: December 28, 2013, 11:54:12 PM »
First of all, let me say that I really like your service.  It does everything I used to do manually, and more.  The AI features are very nice to further my filtering.  I really like that you added SQL queries so that we can finally filter installment/mo. Income.

Now, some of us observed several months ago that other computerized users were taking advantage of the "shopping cart lock-up" where by you can reserve your piece of the loan while you continue to shop.  It appears that users with large enough accounts were, within seconds, "locking up" large chunks the high interest loans, then filtering and releasing the ones the did not want to keep.  It was observed that the game had changed from "filter then add to order" to "add to order then filter".

With that in mind, it had been my manual strategy to monitor for new loans, then quickly filter, sort by interest rate, and add the top few loans to my order.  Often, I wasn't quick enough to get any of the loans I wanted, but if I got a few, I would then view the loans in my order and trash the loans I did not want based on my unfilterable criteria.

I think any computerized approach to getting the best notes needs to emulate this formula.  What I've seen with PLS, when taking advantage of the cool features, is that it takes 30 to 40 seconds from the time new loans are detected to the time the order is placed.  While this will definitely get enough notes to keep pace with my incoming cash, I'd say there is a pretty good chance that I'm missing out on the best of the best.

So, here is my suggestion.  You said in another thread that using LC filters is much quicker at order placement, but then (I assume) you lose out on the AI and survival modeling (which seems to be the slowest part of the PLS filtering and order processing).  Is it possible to set up a two stage filtering system, where quicker but less selective LC filters are used preliminarily to "shopping cart lock up" several notes, then once the loans are in shopping cart limbo, the second stage of AI and SQL filters are used to decided whether to keep or trash the selected notes, before the order is placed?

This would create some additional problems, like for it to work best, a user would have to reserve a higher amount of cash in their account before the program ran.  For example, a $200 minimum would allow the user to lock up 8 notes, then Select the best of the 8 notes for purchase based on the AI and SQL filters.  The program would not run again until $200+ was detected in the account.  There would be some cash drag, so perhaps the user could select the minimum run-time cash they are comfortable with.

Anyway, I know that two filters and a cash reserve might over complicate things for a product that you want to be as user friendly as possible.  So, just take it as a friendly suggestion, or perhaps a stating point for a discussion or something that might spark a better idea on your part.



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