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Messages - Fred93

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Investors - LC / Re: 1099 Spreadsheet for Accountant
« on: May 15, 2019, 12:43:01 PM »
Lending Club 1099 forms do not require a password.  There is no need to give your accountant your LC password, as your LC password has nothing to do with your 1099.

When you say you "sent" the 1099 forms to your accountant, just exactly how did you "send" them?

Investors - P / Re: Filters and Diversification
« on: May 14, 2019, 12:39:26 PM »
You won't be able to buy everything you want on one day.

I got it.  I ignored it.

There are many ways to invest in real estate indirectly.  REITs for example.  Why is realty bundles any better?

Introductions / Re: my review
« on: April 26, 2019, 12:47:00 PM »
i added image of CERTIFICATE that they have

I  am not impressed.  You think you can fool us with this nonsense?  Oh man... they have a corporation certificate!  Must be legit!

thought it was scam, too good to be true because profit that you would get was  13% for 72 hours managed) but i took the risk and transfer 100$. Transfer was really quick and i made 13$ profit. Then i cash out my 113$ just to see is this a scam or not. Cash out was pretty fast and site send me 113$.

Nice try.  This is not a reasonable return.

This is definitely not a real company.  There's just no evidence of reality.

The address shown on their web site "10 De Beauvoir Road, London, United Kingdom, N1 5SU" is a residential apartment building.

Also no phone number.

I looked up the  corporation certificate.  They (or I should probably say "he") filed as a corporation on Feb 5, 2019.  I suspect that all they've set up in that time is a web site.

100% agree.  I was actually afraid that STRATA won't let us close the account with a balance and will want to charge the $100 IRA annual fee again.
Will need to get the transfer form in for all the cash to go to Vanguard.

But my interpretation of your relay of LC's support guy comments ... says that the money that STRATA thinks is there doesn't actually exist.  ...oh... I suppose STRATA could refuse to close the account based on $40 that doesn't exist.  That would be really funny.

That's a really weak response. 

The notion that it's ok if the numbers don't match can hide so many sins of many different kinds.

Fundamental principle of accounting -- you gotta make the numbers match.

General P2P Lending Discussion / Re: Mintos P2P lending platform
« on: April 20, 2019, 02:20:27 PM »
You can also read my Mintos review and also other platform reviews and my monthly income reports  to read about my returns.

Your "income reports" seem to be mostly talk about amounts you have put IN, rather than "income" or "returns", or anything meaningful to investors.

Investors - LC / Re: LLC to get around state restrictions?
« on: April 03, 2019, 10:06:18 AM »
I think probably yes.  I suggest you make sure you understand taxation of corporations before you do it. 

I've believed for a long time that DLI was failing to "mark" loans (that is show them at less value when payments were late, etc).  I believed this just because I looked at his monthly reports (which he would email to anyone who asked) and knew a tiny bit about some of the things he invested in.  The numbers were too good to be true.  Of course I never had the data to prove anything.  I'm so glad the regulators who have the power to examine the details have finally jumped in.

Investors - LC / Re: Additional Statistics Payment File Down
« on: March 28, 2019, 08:35:42 AM »
For roll rate, you can always back up payment month on Late (16-30 days) payment entries by 16+ days (aka previous month) to come up with approximate IGP month. Every late loan has to go through IGP status first. Only data you miss out on is the loans that seesaw between Current and IGP and never go Late.

That's precisely what I was after ... wanting to understand of those loans that go IGP, what fraction return to current vs go on to worse status.

Investors - LC / Re: Additional Statistics Payment File Down
« on: March 27, 2019, 09:36:58 AM »
Yea, and this is frustrating.  Not only is it against the T&C, but there isn't enough time to do it when you are presented with a loan for sale.  The ones I want to buy go very quickly.

I thought about slowly scraping, over a few weeks, to build a database of this info for all loans, so I'd have it in advance of them being listed for sale, but I'm sure this is precisely the sort of thing that the T&C was written to prevent.

I wanted to use the IGP info for another purpose.  I wanted to calculate the rate at which IGP state propagates to worse kinds of late.  I was thinking of my sell algorithm at the time.  (I've since given up on sell algorithms.  Now I never sell.)

I am unable to do that calculation, because the payment history file doesn't contain IGP, and there's no other way for me to get this info for all loans.  The LC web pages have some numbers on this roll rate, but they only show the number for all loans, and I feel sure that loans broken down by various parameters (grade for example) will experience different roll rates.

I don't know which credit bureau the CreditKarma score uses.

Did you pull a credit report from all 3 bureaus?

Investors - LC / Re: Additional Statistics Payment File Down
« on: March 26, 2019, 05:20:08 AM »
I databased the additional statistics "payments made to investors" file.

...the loan has been late not once but three times, plus many IGPs that were not in the additional statistics.

There are no "IGP" in the payments file for any loan.  The monthly nature of the records in that file have no way to record IGP, which by its very nature doesn't last a month.

Investors - LC / Re: Is LC no longer interested in retail investors?
« on: March 19, 2019, 02:54:40 AM »
Do you think your view of LC moving toward securitizations will be good, bad, or neutral toward those of us investing in notes.

Definitely negative.  Means LC has less interest in us and our needs. 

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