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Messages - mschoenf

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Investors - LC / Re: Is LC no longer interested in retail investors?
« on: November 15, 2018, 09:34:37 PM »
On a somewhat related note, last week, I got a Prosper offer via email for a 1% bonus (Like LC used to do sometimes) for adding new money and investing in notes over there ($2,500 min) so interesting that they might be trying to spur some retail interest on their platform.  Unlike what we're seeing with LC.

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Investors - P / New Money Bonus
« on: November 13, 2018, 06:17:32 PM »
Surprised to have gotten offer email today for 1% bonus on min $2,500 added and invested.  So Prosper wants little guys still?  I have only a small amount with them  (most is with LC) and have been reinvesting minimally since amount is not significant and returns still ok.

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Investors - LC / Re: Credit for Ineligible Loan
« on: June 19, 2018, 09:48:59 AM »
Ah, I checked and also have 4 manual adjustments the day before for about $3.  Curious, but I'll wait to see if any more appear.

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Investors - LC / Credit for Ineligible Loan
« on: June 16, 2018, 02:08:02 AM »
Noticed this in my activity log today.  Any ideas or others get something like this?  Nice to see but $0 doesn't do much for me.  Pretty sure have never gotten this before:

Date        Type     Description                                       Amount
06/14/18 Transfer Credit for ineligible Loan ID 18606142   $0.00
06/14/18 Transfer Credit for ineligible Loan ID 51927457   $0.00

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Investors - LC / Now, feel a little less bad about paltry returns
« on: May 17, 2018, 09:46:21 AM »
Reading WSJ story on ROA of credit card companies lately, though in their case, due a lot to competition for very low int. rates and rewards, but also loss ratios increasing some; a bit of article that may be of interest to LC Investors:

Five of the largest credit-card issuers— American Express Co., Capital One Financial Corp., Citigroup Inc.,Discover Financial Services and Synchrony Financial  —generated a median return of 2.1% on their assets for common shareholders in the first quarter, up from 2% a year earlier but down from 2.6% two years prior, according to analysis by Autonomous Research. The recent peak was 3.7% in the second quarter of 2011, according to an industry analysis by Autonomous at the time.

The pickup in returns for most banks in the first quarter was primarily the result of tighter underwriting, which helped slow the rate of loan loss increases and the amount of money banks are setting aside for future losses. U.S. tax-law changes that lowered corporate tax rates also helped.

Meanwhile, banks and fintech lenders that originate personal loans have been increasing solicitations in recent quarters. Many of these offers are targeting consumers with credit-card debt and pitching the opportunity to roll over that debt into a personal loan at a lower interest rate. Their prime targets are the customers who card issuers want to keep most: those with high credit scores who carry a card balance each month.

A record 516 million personal loan solicitations were mailed out in the first quarter, up 46% from a year ago, according to estimates from market research firm Competiscan. This marked the fifth-consecutive record-breaking quarter.

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Investors - LC / 2 days close to each other, lot of recoveries
« on: February 27, 2018, 10:50:15 PM »
Still only 0.3% of total charged off loans, but nice to see them working the phone bank a bit!  Don't recall seeing 2 big dumps of recoveries this close to each other, 2/24 and 2/27.  Perhaps the borrowers are feeling guilty about our low returns?   ;)

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Investors - LC / LC all time low stock price
« on: February 26, 2018, 06:05:03 PM »
Anyone else concerned a bit at their stock down to 3.27, or is it irrelevant to our holdings? I, like most, am in drawndown mode but need them to last a few more years.  Just glad to have sold that stock they gave us rights to buy long ago.  Made up a little for the huge defaults from the bad vintage times.

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Investors - LC / Recoveries: More than usual?
« on: January 06, 2018, 10:44:41 AM »
Anyone else get a ton of them Jan 5?  Not sure it's just the normal amount, but I noticed my paltry Adj. return bumped up .1% to 3.46% which was pleasing and seemed more substantial than in the past.  I have not been investing much for about 1 year.

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Investors - LC / Re: Worst Month Yet
« on: November 05, 2017, 11:45:00 PM »
The most painful thing is paying taxes on an investment where you lose money for the year which will be my case.  It will take me years to use up all the capital losses.  That was my big mistake in pursuing this investment, not realizing that mismatch.  Your net return might be 3%, but you're paying taxes as if you earned 20% if you invested in low-grade loans while an investment in higher grade loans might net out very similarly but without that huge capital loss you can't use for years.

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Investors - LC / Actually Had a Monthly Gain!
« on: September 02, 2017, 11:40:48 AM »
+$22 in August net of chargeoffs!  First non-loss month since April for me and only 3rd since Dec. 2016.  Unfortunately, while I've been in investor for some time, I put in a large amount during the "dark times" when underwriting went to hell in early 2016 so that is killing me.  Currently showing 3.55% adjusted return  :(  but hopefully stabilizing.  I'm in drawdown mode myself with maybe an occasionally investment in a note here and there when bored from my filter while I assess if the investment is worth it.  I have come to the conclusion that until the tax issue is fixed and pre-payment risk compensated to the lending with a sharing of origination fees, not going to be a big part of my financial world in the long run.

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Investors - P / Net return error
« on: May 03, 2017, 04:38:40 PM »
Thought was too good to be true.  Got email saying special message so logged in to find msg about calc error and return now 1% lower. still higher than lc but low amt.

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Yes, I have noticed a stabilization in my adjusted return in the last 2 weeks or so after no new investing for about 6 weeks now.  but not sure if too early to say the worst is over.  Hopefully they will raise rates some to stem the rifis.  LC really needs to split the 2nd orig fee with lenders when refi their own loans out from under us.

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Nov. was the first month since I began investing 5 years ago where Chargeoffs exceeded interest income.  I hadn't checked the count, but I assume that goes along with what you're seeing.  :'(

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Investors - LC / Positive Returns Graph on Homepage
« on: November 07, 2016, 09:29:56 PM »
Just noticed today this graphs shows 99% with positive returns.  I had recalled seeing for some time 99.8%.  Not a huge deal, but a little disturbing to see this gauge go down as I see it as the #1 argument for why this is a great asset to diversify one's portfolio.  In any regard, it's safe to say a scenario where negative returns occurred with more frequency would mean that stocks most likely were down double-digit %.

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I got the same today.  Some guy in accounting at LC that was planning to do the Richard Pryor Superman III fraction of a penny scam must be really disappointed.

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