Topics

1

Investors - LC / My experiment with autoinvest

« on: August 22, 2014, 04:04:47 PM »

I hadn't used it until recently.  Mostly because except for feeding frenzy times the notes my filters would pick would have a "problem" that wasn't a filterable item.  But I figured I'd give it a try hoping it might give me a shot at getting notes without the manual four time a day feeding frenzy stuff that was turning into a full time job.

My basic filter is very similar to the "high income" one Peter mentions in his blog on how he's investing in 2014.  Not particularly exotic.

Its just not working.  I've run it for ~2 weeks now and its picked 4 notes.  Three of them I would have thrown back and they sat for 2+ days before they were fully invested in.  Of the four, two were withdrawn.  Which was similar to my recent experience with manual purchases.

So no joy.  I'm going to turn it off and go back to drawing down the account.

2

Investors - LC / Recoveries Picking Up?

« on: July 22, 2014, 09:16:10 PM »

Okay, this is weird and I want to see if its happening for anyone else before looking into it.  On about any given month I'll get somewhere between $0 and $8 in recoveries.  Last month I had $80 and this month I'm going to top $100.  Is it just a function of having an account thats "of that age" and some of the inexorable processes of recovery are just kicking in or is it that LC is working harder/smarter on recoveries?  Or just a blip?

Because if the trend continues, this is shaping up to really screw up my tax returns...

3

Investors - LC / Entertaining listings

« on: September 21, 2013, 04:09:35 PM »

Saw some of these leftovers that nobody wants.  Wonder why....?

This one seems to have a split personality.  A credit consolidation/education title and its a 'green loan'.  Should have included a comment that it was a small business loan to help him move.

https://www.lendingclub.com/browse/loanDetail.action?loan_id=7295801&previous=browse

I would recommend not asking for mercy in a loan application.

https://www.lendingclub.com/browse/loanDetail.action?loan_id=7380316&previous=browse

I make 12k a month and want a $15k car loan @26%.  I also don't work for anyone, have such a low DTI that I must be living in moms basement, haven't been working very long, and am late making payments.  Mmmm hmmm....

https://www.lendingclub.com/browse/loanDetail.action?loan_id=7438518&previous=browse

Borrower gets an "F" in business naming to go with the grade level.  I'm pretty sure this has to be said with a heavy Russian accent.

https://www.lendingclub.com/browse/loanDetail.action?loan_id=7438595&previous=browse

Very entertaining to read the leftovers, they're full of gold.

4

Investors - LC / Default rate seems to be busted

« on: September 14, 2013, 05:10:13 PM »

I put two loans in my cart, an E and an F and the suggested default rate was 4.9%...hmmmm...

I also may have figured out why more than half of my notes don't fill.  It seems that the amount the borrower requests is a maximum amount and when the note fills, they ask the borrower how much (up to that amount) they REALLY want, and frequently the actual loan is lower than the 'shopped' amount.  My bet is the last orders that come in get canceled if the loan amount is less than the original requested amount.

5

Investors - LC / The cat is out of the bag now...

« on: September 11, 2013, 06:34:14 PM »

Just ran my filter and got a new message...

"There are currently no Notes matching your criteria. Please consider adjusting your filter settings or returning to the site later. New Notes are listed seven days a week at 6am, 10am, 2pm, and 6pm."

Until I found this forum, I'd seen zero mention of the 'drop times' and presumed they just released notes whenever they were processed for fulfillment.  I expect the competition at the drop times to increase, now that the information is very public.

6

Investors - LC / Nice loan title...

« on: September 07, 2013, 11:27:14 AM »

https://www.lendingclub.com/browse/loanDetail.action?loan_id=6836777&previous=browse

I think people really do read the loan titles, not just automated grabs.  Like the note "Dallas Cowboys Rock!!!" which went unfilled for several days until the note title was changed, looks like most investors are looking at this title and deciding to heed the warning....