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Messages - yojoakak

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Investors - LC / Re: Still having problems on Folio
« on: November 05, 2012, 01:45:17 PM »
I'm seeing some weird stuff on Foliofn Browse Notes

Sort by Remaining Payments.

A lot of the notes have $null.00


Investors - LC / Re: Lookup a LC NOTE (not LOAN)
« on: November 04, 2012, 02:04:24 PM »
You'd just need the loan id, order id, and note id.

I've been doing a little experimenting. It turns out you just need to loan id and the order id. That will bring up a page with the note details.

However the note id will be nowhere to be found on that page. How peculiar!


General Lending Club Discussion / Re: Can you help me choose my book title?
« on: November 03, 2012, 10:27:56 PM »
"How to Make a Fortune on the Information Superhighway"

EDIT: Sorry. That one is already taken:

Seems to be coming back now, although some of my data is still missing.

Investors - LC / Re: Larger notes on FolioFn
« on: October 31, 2012, 03:45:35 PM »
I haven't been able to think of any reasons large value notes are better.

Back before they added the ability to sell notes, I guess it didn't make any difference.

But times have changed.

And I suspect someone trying to sell a $2,500 note on FolioFn would have a lot better luck if they had 100 $25 notes.

Investors - LC / Re: Consolidation to a higher interest rate??
« on: October 31, 2012, 03:36:45 PM »
I'm also wary of people paying off their student loans. First because I thought Student Loans had low interest rates.

But more importantly (from my understanding) a Student Loan is a whole lot harder to get discharged in bankruptcy.

Investors - LC / Re: Lookup a LC NOTE (not LOAN)
« on: October 31, 2012, 03:29:40 PM »
I keep all my loans for sale on Foliofn and then once in a while I save that page to my hard drive (in Firefox it's File > Save Page As...)

The Status field is a link to the note.

(I tried doing the same thing with Lending Club "My Notes" but it didn't work.)

If you don't use Foliofn, I think you probably could click through to the Foliofn "Sell Notes" page, show All your notes, then save that page (without actually offering the notes for sale.)

It's really inconvenient -- I don't know of any other way to do it short of writing a script -- but going forward at least you'd only have a few pages to search through the find a link to your old note.

Good point! LendingClub's "Late" calculation is really messed up.

For example, according to Lending Club all these loans (and a lot more) are WAAAAAY more than 120 days past due.

But they're not getting Charged Off. Wat's different about the loan above?

Last Payment (7/23/10)

Last Payment (1/7/11)

Last Payment (4/28/11)

This isn't the prettiest loan, payments come in intermittently, the most recent payment was made on 8/15/12 (2.5 months ago) but it just got charged off for being 120+ days past due.

What gives?

"10/30/12 (Tuesday)    Charged off. PAYMENT 120+ past due. Collections efforts exhausted. Recovery unlikely"

"8/12/12 8/15/12 $0.86 $0.67 $0.19 $0.00 $8.16 Received - Partial Payment"

Investors - LC / Re: Lookup a LC NOTE (not LOAN)
« on: October 31, 2012, 12:26:08 AM »
No easy way to do it as far as I know.

Investors - LC / Re: Larger notes on FolioFn
« on: October 24, 2012, 07:25:13 PM »
Part of the reason people don't like high value notes is that LendingClub will issue you a 1099 for any single note that pays you more than $10 in interest in a calendar year. Now I assume everyone is paying his or her taxes, but this 1099 is still kind of a hassle to figure out where it goes on your tax return. (Not something you'd have to worry about in a IRA, but not everybody's account is in an IRA.)

And since the actual interest paid on a note will depend on the principal, interest rate, and even the actual payments that get made, figuring out if you're going to hit that limit can be a bit of a gamble.

Be aware that for a new loan you can invest in as many $25 notes as you want. You just have to submit them in separate orders, which is a bit of a hassle but entirely do-able.

Investors - LC / Re: Q&A for Borrowers
« on: February 24, 2012, 01:15:31 PM »
I guess there's still a lot of loans that never get fully funded.

e.g. Go to browse notes and sort by Time Left.

Right now I see one with 2 days left and more than few with 4 days left, some aren't even halfway funded.

Some of them even give nice complete answers to the questions.

Investors - LC / Re: Account Balance
« on: February 24, 2012, 01:06:33 PM »
I've seen the same thing happen.

Here's my guess:

LendingClub processes payments all day.

As the payments come in they deduct their "1% fee" from your account.

Around 5pm Eastern time they start crediting your account with the payments, which goes on until until the wee hours of the morning (although probably just midnight in California.) Where it stops, nobody knows.

(Of course when a loan goes into default, that entire amount gets deducted from your total, but that hopefully doesn't happen everyday.)

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