Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.

Messages - sun2gz

Pages: [1]
Foliofn - LC / Re: Folio API
« on: May 05, 2014, 09:27:48 PM »
Also, just noticed that now there is a link to "Download Full Inventory" at the bottom of Browse Notes page.

Thanks, I never imagine there can be more than 50,000 loans for sale on the market. The link that you gave works very well to filter loans with parameters.

Foliofn - LC / Re: Folio API
« on: April 30, 2014, 08:04:27 PM »
How would somebody get data on the loans trading in the folio secondary?

You can download available notes on LC FOLIOfn from their Browse Notes page:

Is that all the loans for sale? I checked all loans it returns NeverLate = True.

Investors - LC / Folionfn public API?
« on: April 30, 2014, 08:00:21 PM »
Is there this kind of API available?

Have to focus on the cost/benefit of it.

Gotta agree here.  Pursuing lawsuits cost money.  Lawyers cost money.  Additional personal to staff a law office costs money.  Is it worth sending somebody out to represent a BK-13 if the amount of the default is only $4K or $5K?  I don't think so.  Besides, like I said, it's not LC's money.  So, why should they have to pony up all the work and money?  Just not worth it. 

On the flip side.
Where do these loans go?  Do they just rot away forever in LC's computers past the statute of limitations?
If they were mine I'd bundle them up and sell them to an outside attorney who would be interested in pursuing them.  It's done all the time.  There's money to be made for the right person who has the expertise to go after it.

Pretty good idea, but that's not going to work because LC does not have the authority, does it?


Will LC sue them or not at all? Can the default on LC have impact to their property / credit?


how can Delinquencies (Last 2 yrs) be 10, while at the same time Months Since Last Delinquency is n/a?

IMO: A delinquency can be as simple as missing a credit card payment by 1 day past payment date.  I believe that that is why LC has had to add Months Since Last Major Derogatory to satisfy the corporate investors. 

I use a general rule of 24 months or more for a simple delinquency and ZERO for Months Since Last Major Derogatory.

Bottom line: Yes -- I would invest in this loan.

"...ZERO for Months Since Last Major Derogatory." Were you wrong here? Did you want put a long period because it's Months?

Investors - LC / Re: Lending robot
« on: February 17, 2014, 02:35:43 PM »
Question on pricing...

"Only 0.49% of orders submitted. No setup fees, no monthly minimum."

So I get charged for the cost of the orders submitted, not just the notes that get issued? That could mean that if I deposit $450 a month into my Roth IRA that I end up getting charged based on an investment of $800 because of all of the loans that are cancelled or denied before they are issued and I get the money back to re-invest.

Other than that, I'm interested to check this out.

I possess the same concern. The successful invest rate can be less than 50%, so the actual charge by IR is ~1%.

I did a research on loans in my account. I just noticed that I have a large amount of loans from CA. However, the research shows that CA, FL, and NV are not bad at all in my account, though I do use a little more restrict criteria to pick loans from these three states. (The loans included are at least 3 months old)

Interesting chart. Actually I have the same question. From my filter on those lending club's history data, those three states are not bad, even better than average.

Good information. Taking a note...

in the filter on nickelsteamroller. There are following field names (credit related) I would like to know how to map to the fields in Lending Club's official filter.

Num Rev Accounts    (total credit line?)

Num Actv Bc Tl     (open credit line?)

Mort Accounts    (?)

Open Accounts (?)   

Pages: [1]