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 - sensij

Pages: [1] 2 3
1
Investors - LC / Re: Any way to consolidate multiple LC taxable accounts?
« on: September 06, 2020, 06:50:00 PM »
I'm in the process of doing the same with my wife's Traditional IRA.  I only had to add her name to my taxable account to accomplish it (changing it from an individual account to a joint).

I have always understood IRA's to be Individual Retirement Accounts.  How is a joint account created?  A mechanism that allows account ownership to be passed between individuals through a joint mechanism could be useful.

2
BlueVestment / Re: Bluevestment Down Again
« on: March 21, 2018, 10:46:55 AM »

It looks like the service has been discontinued.  Anyone have another favorite that will automatically purchase notes?

3
Investors - LC / Re: Lending Club Portfolio Score
« on: February 06, 2018, 02:18:09 PM »
Very interesting.  Thanks for posting!

It will take some more work, but I'll try to give that chart some more useful context...  at least show % of defaults within the population of that score, maybe with a 3rd dimension for age at default, or something like that.

4
Investors - LC / Re: Lending Club Portfolio Score
« on: February 06, 2018, 01:39:31 PM »
I like what you are doing with this.  I just put in my D-G grade account, as built (mostly) by BlueVestment.  64 charged off loans so far, distributed as shown below.  Overall score on this is 44.6/82.



5
General P2P Lending Discussion / Re: How to structure group buying
« on: January 31, 2018, 06:03:35 PM »

Think I'm confused. What are your thoughts (non-binding legally of course) on the matter of specific loan (or note) selection requiring a service provider to be a RIA. For example, a non-accredited customer provides their LC API credentials and investment guidance (conservative, risky, etc.). to a service. That service buys and possibly sells notes of its own choosing for that customer in their account using that customer's API credentials . Must that service be a RIA? I mean choosing specific notes clearly seems like investment advice to me. Would it matter if the customer were accredited? TIA.

Bluevestment selects and buys notes.  If they are not an RIA, that may answer the question.

6
Investors - LC / Re: Cumulative ROI by Vintage Beginning 14Q1
« on: January 07, 2018, 02:13:22 AM »
These are beautiful, thanks for doing this. Do you have a summary tab for all LC loans that is not sliced by Grade?

I think this covers your request (36 mo loans only, all grades)



Also, for those interested, here is Insikt's definition for this metric:

Quote
For any given period, this return metric equals the monthly interest and borrower late fees you have received on your loan investment, net of servicing fees and principal losses (all annualized) divided by the average loan balance outstanding during that period.


7
Investors - LC / Re: Dear LC
« on: November 16, 2017, 06:51:26 PM »
For what its worth, here is an update of the a chart @Fred93 has presented before (and is mentioning in the post just above this one, from the downloadable chargeoffs spreadsheet), suggesting 2016 Q2 and Q3 are the worst and some improvement since then, although there is some grade dependency.

It look like 2012 Q4 was that last *great* time to be an investor in the higher risk grades.  I didn't plot earlier than that because volume was so thin (only 432 notes in 2011 Q4, grades D-G, for example, increasing to 753 in 2012 Q1)

8
Investors - LC / Re: tax reform
« on: November 15, 2017, 07:40:27 PM »
Interesting point. But the notes do carry fixed repay schedules and if not paid on schedule, then itís delinquent. The fact that Investor could not sue or demand LC for timely repayment does not mean the note is not delinquent.

Notes *do not* carry a fixed repay schedule *to you*.  LC is only delinquent *to you* if they receive a payment and fail to pay their obligated amount of it to you.

Quote
PAYMENT ON THE NOTES, IF ANY, DEPENDS ENTIRELY ON THE RECEIPT OF PAYMENTS BY LENDINGCLUB FROM THE RESPECTIVE BORROWER MEMBER(S) IN RESPECT OF THE CORRESPONDING MEMBER LOAN. LENDINGCLUB DOES NOT WARRANT OR GUARANTEE IN ANY MANNER THAT YOU WILL RECEIVE ALL OR ANY PORTION OF THE PRINCIPAL OR INTEREST YOU EXPECT TO RECEIVE ON ANY NOTE OR REALIZE ANY PARTICULAR OR EXPECTED RATE OF RETURN. THE AMOUNT YOU RECEIVE ON YOUR NOTE, IF ANY, IS SPECIFICALLY RESTRICTED TO PAYMENTS MADE BY US EQUAL TO THE PAYMENTS MADE BY THE BORROWER MEMBER UNDER A MEMBER LOAN TO WHICH YOU COMMITTED NET OF THE FOLLOWING: (A) A ONE (1) PERCENT SERVICE CHARGE ON ANY BORROWER PAYMENTS RECEIVED BY LENDINGCLUB; AND (B) AN UP TO 35% COLLECTION FEE ON BORROWER PAYMENTS RECEIVED AS A RESULT OF SUCCESSFUL COLLECTION EFFORTS IF NO LITIGATION IS INVOLVED; OR (C) A COLLECTION FEE OF 30% OF AN ATTORNEYS' HOURLY FEES PLUS COSTS AS A RESULT OF SUCCESSFUL COLLECTION EFFORTS IF LITIGATION IS INVOLVED AND, IN THE CASE OF THE FIRST MONTH'S PAYMENT, ACCRUED INTEREST FOR THE NUMBER OF CALENDAR DAYS FROM THE DATE THE MEMBER LOAN IS ISSUED TO THE DATE IT IS PURCHASED BY US AND YOUR NOTE IS ISSUED.

https://www.lendingclub.com/legal/investor-agreement

9

What kind of filter changes are you imagining?  Whether LC was still offering those grades or not, I guess I would hope that BV is following results well enough to have detected that returns for those grades were falling, and start reducing their weight (20% of my BP Aggressive account is F&G), but I also hope that algorithm changes are thoroughly tested and validated, which might introduce some lag time to react to changes in loan quality of each grade.

10
Investors - LC / Re: Worst Month Yet
« on: November 06, 2017, 04:31:15 PM »
I'm trying to put these thread updates into context.  We know there is a *account* performance curve that bottoms out at around 15 mo, based on the weighted average age of the holdings within the account.  We know that an account with continuous re-investment of note payments (and little contribution of new funds) should eventually stabilize at a weighted age of around 15 mo, if heavily skewed towards 36 mo notes.  The curves that LC presents are not weighted by account *size*, however...  one hypothesis is that the performance distribution of accounts with a weighted age out 20-30 months are getting lifted by accounts skewed towards 60 mo notes that are still in re-investment, while masking the lower returns of smaller accounts that are winding down.

Since re-investment has been stopped, it seems like this thread is essentially presenting the play-by-play that feeds "performance by vintage" charts like what @Fred93 had posted in a few threads, for example: https://forum.lendacademy.com/index.php/topic,4113.msg40832.html#msg40832.

Has anyone with a more agile feel for these numbers gotten a sense of whether these results are basically consistent with what we'd expect for an account that is winding down (perhaps adjusted for the now-known poor quality of the last vintage purchased in this account)?  It may not drive my decision-making, but I'd like to refine my expectations of what the eventual wind-down period will look like, and how long the account needs to exist in the re-investment state to cover the wind down costs and still meet my goals.


11
BlueVestment / Re: BlueVestment Actual Returns
« on: November 02, 2017, 06:45:05 PM »
October was a good month for the low risk grades, but the D-G mix got hammered in adjusted value, giving back two months of gains.  I know there are another 6 months or so to survive to get to a theoretical steady state mix (in a world where everything else is constant), I'm happy with the trajectory of results with where I'm at on the average age curve.




12
BlueVestment / Re: BlueVestment Actual Returns
« on: October 02, 2017, 12:43:31 PM »
Sorry about the formatting, eventually I'll clean this up.

13
Investors - LC / Re: Selling Houston loans
« on: September 02, 2017, 12:09:38 AM »
LendingClub is not ignoring the potential impact, just got the email below.

My exposure to the zip codes in the first post:
Grades A-C: $4138 of $89,160 (108 notes, 4 of those IGP)
Grades C-G: $1600 of $37,353 (55 notes, 3 of those late + 1 charged off)



Quote
Hurricane Harvey is an unprecedented tragedy and our hearts go out to those whose lives have been turned upside down. We wanted to provide you with an estimate on how many LendingClub borrowers could be impacted and let you know what we're doing to provide relief for them.
 
Estimated Scope of Impact
We estimate approximately 30,000 LendingClub borrowers are potentially affected by Harvey (based on zip codes identified by FEMA and on the counties declared as in a state of emergency by respective state governors as of August 31, 2017), which amounts to about 2% of LendingClub's total borrower population. Of potentially affected borrowers, about 2,000 are currently delinquent as of August 31, 2017.
 
For the vast majority of investors who have diversified portfolios, we expect little to no impact to returns. The affected population is a small portion of our total borrower base of 1.5 million, and we're committed to keeping borrowers on track.
 
What We're Doing for Borrowers
LendingClub believes in doing the right thing for both borrowers and investors. Given the scope of the disaster, we've taken several steps in line with guidance from the FDIC to treat borrowers with respect, provide resources, and help them stay on track:
 
1.    Collections call adjustments. Starting on August 26 and through September 5, internal and agency collections teams stopped making calls to delinquent borrowers in Texas and Louisiana (approximately 6,000 borrowers) as the storm made its way through the area. We will resume calling delinquent borrowers who live outside of affected zip codes in Texas and Louisiana on September 5. We will not resume calling borrowers who live in affected zip codes until September 15. Likewise, we are suppressing direct mail and email collections communications to those same borrowers until September 30.
 
2.    Late fees. We are not charging late fees for borrowers in affected zip codes starting on August 23 through September 30.
 
3.    Credit bureau reporting. For borrowers who live in affected zip codes and who become delinquent, we will append a note to our report to credit bureaus that they have been affected by a natural disaster.
 
4.    Hardship plans. We typically offer hardship plans (where borrowers are allowed to temporarily make interest-only payments to accommodate an unexpected life event) to borrowers when they meet certain eligibility criteria. In response to Harvey, we are relaxing our eligibility criteria for borrowers in affected zip codes. Hardship plans work to protect investor returns as borrowers whose loans may otherwise progress to charge-off status have the opportunity to make interim payments and some portion may revert to current status. Importantly, our teams will follow our standard process, where we offer progressively more relief to borrowers who ask for help, with hardship plans made available only after other options are exhausted.
 
This is a difficult time for many Americans, and we're committed to doing what's necessary to help our customers stay on track while protecting investor returns.
 
If you have any questions or concerns, feel free to reach out to us at 888-596-3159, Monday through Friday 7 a.m. through 5 p.m. PT, or investing@lendingclub.com.
 
Best regards,
 
The LendingClub Team

14
Investors - LC / Re: Borrower Fraud
« on: August 28, 2017, 12:49:48 PM »
what's a check-in call?

A call from an investment services rep to see if I am liking the platform, to let me know that the IRA bonus had been full deposited, and ask for feedback.  He asked if I had any questions about the "5 Key Things" email that was discussed in another thread.

15
Investors - LC / Re: Borrower Fraud
« on: August 25, 2017, 02:10:21 PM »
I'm about 3500 notes into my Lending Club experience and ran into my first case of acknowledged borrower fraud.  I noticed a Foliofn transaction last month and brought it up during a check-in call from investor services today (I'm not yet registered with Foliofn).  Here was the explanation:

Quote
In regards to the Traded Note on your Roth IRA, Loan ID 108619360 was Fraudulently issued. LendingClub was to repurchase the Note from you at Principal Outstanding ($25.00) + Accrued Interest, which was $0.41

LendingClub actually bought the Note at a much higher price, $58.04 which is why you show a Note traded at 58.04. You also have a withdrawal of $32.63 which was LendingClub debiting your account the incorrect premium LendingClub purchased your Note at.

Pages: [1] 2 3