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Messages - yojoakak

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I dug up the loan. It's not pretty and eventually it got Charged Off.

But the principal-only payments are still there.

It happened 3 times: 7/17/11, 6/17/11, 5/17/11.

I never got a satisfactory answer.

I would more likely trust a "guess" by someone on this board more than an "answer" by one of the Lending Club staff.

e.g. I once had a note where the payments were going entirely towards principal and nothing towards interest. I finally called Lending Club about it and the person I talked to told me "partial payments are always applied to principal first."

She maintained her position even when I pointed out a bunch of other notes where the exact reverse was happening.


Investors - LC / Re: FOLIOfn Selling Strategy... Flawed?
« on: November 16, 2012, 06:23:09 PM »
I'm often hesitant to buy "fresh" notes with no payments.

I mean, if someone just planned to sell their notes on to Foliofn immediately, how much time did they spend choosing good notes?

And a fresh note with a markup of 0% (or even less sometimes) makes no sense to me at all. (LendingClub "topping off" loans and then selling them on to Foliofn, maybe?)

In any case, I'm often surprised by which of my notes will get bought on Foliofn. Sometimes it doesn't seem to make a lot of sense.

Investors - LC / Re: Loss Mitigation Strategies
« on: November 15, 2012, 07:57:23 PM »
Sort all notes by payment due date.   If it is past 4 business days, the payment failed.  I check this Monday - Friday, takes 2 minutes.

Caution: That value might not be 100% accurate e.g. for notes on a Payment Plan.

Investors - LC / Re: Loss Mitigation Strategies
« on: November 15, 2012, 04:44:12 PM »
How do you detect "Processing..." notes?

Do you really go through every loan every day and check the Payment History?

That must take a while.

Investors - LC / Re: Is $75 investment preferable?
« on: November 14, 2012, 06:18:58 PM »
There was some discussion of this recently in the comments to one of Peter's posts:

It was news to me, too!

Of course, what happens if the loan defaults? or takes 10 years to get paid off? What's the maximum amount of time one could conceivably have to wait to get that "adjustment" credited to you account?

(What's the present value of "6 cents" paid to you in 10 years anyways?)

Investors - LC / Re: Still having problems on Folio
« on: November 13, 2012, 11:28:38 PM »
Anyone know what's going on with Foliofn?

Browse notes seems to be OK for the most part.

But on the My Account page, none of the notes in my Open Sell Orders are being updated. For example, I've got some Fully Paid notes that still show as Current, until I go to reprice them.

From one of Peter's blog posts. Is this still the case?

"Every P2P Loan is Getting Funded at Lending Club

It hasnít happened since September of last year. That was the last time a loan was listed on Lending Clubís platform that did not get funded.

Now, of course, not every listing becomes a successful loan. Some are removed because they fail some form of verification; others are removed by the borrower. But according to Lendstats the last time we saw a valid loan on Lending Club not get funded by investors was in September, 2011..."

Investors - LC / Re: What's your MO?
« on: November 11, 2012, 02:11:16 PM »
I used to just invest in whatever loans were getting funded quickly, kind of a "Wisdom of the Crowds" thing.

But now that large investors are snapping up 75% of a loan in one go, it's kind of thrown a wrench into my "system."

What effect, if any, do you think recent Natural Disasters (e.g. SuperStorm Sandy) will have on default rates from those regions affected?

Investors - LC / ...
« on: November 07, 2012, 08:20:33 AM »

Investors - LC / ...
« on: November 06, 2012, 10:00:36 PM »

Investors - LC / Re: Still having problems on Folio
« on: November 06, 2012, 04:53:03 PM »
Missing data seems to have been filled in. HOO-RAY!

Investors - LC / Re: Still having problems on Folio
« on: November 05, 2012, 03:15:36 PM »
Starting a new thread. The original issue went away, but now a bunch of my for sale notes show as IGP, but if I attempt to reprice, in the reprice screen they show as current. The notes should be showing current.

I've got at least one that are "Fully Paid" as of 10/22/12 but still show up as "Current" with an Outstanding Principal on My Account.

Maybe this has something to do with Lending Club passing $1 billion in loans?

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