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Topics - Joleran

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Investors - LC / Lending Club Cost Basis
« on: January 29, 2015, 01:52:44 AM »
Well, the new LC tax forms are out, and Lending Club has added a fun surprise, cost basis is now reported to the IRS, using a method that is in line with LC's traditional high standards for accuracy and reporting.  Also, cost basis has been reported for each individual Folio note transaction, so we can have more fun.

To be fair, it's only like 5 dollars off from my method, but good luck ever trying to figure that out, and it looks like some of the more optimistic methods of calculating cost basis for LC notes are about to be rendered obsolete.

Investors - LC / Spamming credit score updates
« on: August 05, 2014, 10:14:07 PM »
The score updated 21 times last month for this note:

Someone at LC spamming the refresh button for this note or something?

Has anyone run the numbers on this?  It seems logical that a lower credit score indicates the borrow is statistically less likely to continue making payments, but if the borrower has no other negative indications are they really a higher default risk for a loan already made?

I'm pretty sure most people would agree if the credit score drops from 760 to 575, you should dump the loan very quickly as there is something seriously financially wrong, but what if the score goes from 680 to 630 over the course of 2 years?  How much noise is there in a credit score - what's a statistically significant movement that should be actioned?

I've been selling notes with large credit score drops for a while, and it seems to be working well for me with a well-seasoned 15% XIRR on a mostly buy and hold strategy.  I'm not sure how I can get the data regarding notes I've sold performing/not performing over time - any suggestions?

Investors - LC / Fake bankruptcy's
« on: February 17, 2014, 02:44:22 PM »

Investors - LC / Precision rounding mouseovers
« on: January 24, 2014, 09:15:47 AM »
Don't know if I'm just late to recognizing this or if it's a relatively new feature, but I just noticed you can mouseover values for principal, interest, etc. on pages like this:

Investors - LC / Is this note done or what?
« on: January 03, 2014, 03:57:24 PM »

Next Payment    $0.00
Remaining Payments (0)    $0.00
Expected Final Payment    1/16/14
Outstanding Principal    $0.98

What's up with that?  I bought this for less than a dollar and got $0.86 on 1/2/14.  Did I just lose money or is there another dollar due?

Foliofn - LC / Huge posting of decent loans at 18-22 months out
« on: December 28, 2013, 02:53:02 PM »
There are a hundred or two loans out there on Folio now that are all decently performing, all listed for 0% discount, and that are 18-22 months out of maturity.  I've already picked over them, but there are plenty of great loans at the 16-17% level.

Investors - LC / Negative available cash
« on: December 19, 2013, 04:18:09 PM »
You can't go negative on the display, but it goes "Available Cash N/A".   Now to figure out whether LC is actually tracking the negative number or if it somehow bottomed out.

For those not aware, LC does some funny accounting method where your available cash bounces around despite no activity you can see going on in your account.  Earlier today, I had $0.06, and this must be what it looks like to be negative.

Investors - LC / Shiny new checkboxes
« on: November 20, 2013, 09:45:07 PM »
New checkboxes have been added to the folio search page for credit score trend and a "never late" box and junk.  Your ups should now sell faster and your downs will be picked apart by experienced buyers and you will be left with crap.

Also, if screen scraping JSONified notes from Folio, you will now have several new surprises to deal with.

Enjoy the new features everyone!

Edit:  It's actually a heck of a lot more than shiny new checkboxes.  There's a ton going on.  Awesome news for buyers, terrible news for sellers.

Investors - LC / Member claims of unusual abilities with LendingClub
« on: November 11, 2013, 06:18:14 PM »
As a community, it is important to be known as a source of direct truth over vague rumor.  Getting an edge and keeping one's methods secret in a competitive environment can be important, but lying should really be beneath us.

I've noted many claims by various members over a number of posts, and I want to direct attention to these claims.  Are these claims fanciful imagination or attempts at manipulation, or have the posters found API hooks not commonly known, used social engineering on phone support, or otherwise bypassed restrictions that the rest of us must live by? 

Rather than enumerate the claims I've seen immediately, I'd like to ask if any community members want to stand up and acknowledge the presence of such abilities (of course without disclosing the specific methods).

Investors - LC / Lending Club servers getting hammered more than usual
« on: November 05, 2013, 01:04:28 PM »
Anyone notice in the last week or so that the LC server's are having more trouble keeping up with the load when they post new notes?  Seems like more people with automation may be getting into the game.

Investors - LC / Sweet new Folio sales page
« on: October 23, 2013, 04:15:26 PM »
Markup/Discount and YTM are now shown for you on the sales page.  If you do anything manually, this will save you a lot of calculator time!

Edit:  Significantly less awesome is that the repricing screen does not have this new data.

Investors - LC / No Folio settles last night?
« on: October 15, 2013, 08:38:48 AM »
Anyone else not have any of their Folio transactions settle last night that should have?  This could have a pretty big impact for me due to whether they cancel things that will have payments posted today.

Investors - LC / Payments remaining less than outstanding principal
« on: October 09, 2013, 01:04:47 PM »
Does anyone know off-hand how loans with payments remaining less than the outstanding principal work?  I've got the below loan that's standard, current, never had any weird late stuff, but the math doesn't work out to remove all the principal.

I'm guessing payments remaining is a rounded estimate, and the loan will have a mini balloon style payment at the end?

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Investors - LC / Money disappearing from account
« on: September 20, 2013, 08:58:14 AM »
I thought I had been noticing this happening, but I finally saw conclusive proof for myself.  Between yesterday evening and this morning, I had $0.63 removed from my total account balance while doing absolutely nothing and showing no account activity other than two newly issued notes.

I thought perhaps service fees were being delayed at first, but the numbers don't add up at all.  Has anyone seen this happen and does anyone know what's going on?

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