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Topics - jpildis

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Investors - P / Prosper 1.0 Settlement Check
« on: August 19, 2014, 11:11:21 AM »
I just received my Prosper 1.0 class-action settlement check and it's pretty underwhelming... $89.  This is 20% of the total settlement that will be paid out over the next 4 years.  The 4 year settlement total ends up being about 3% of my Prosper 1.0 investment and about 18% of my charged-off capital.

Investors - LC / LC Return Tracker
« on: July 25, 2014, 08:53:10 AM »
All - I've created the attached to help track returns in a standard way, even if you trade on Folio.  I calculate XIRR, NAR (per LC's definition) and average age equivalent (this allows traders to compare themselves to buy & holders).  Enjoy.

Investors - LC / Auto Selling on Folio
« on: July 13, 2014, 10:20:19 AM »
Are there any reliable (i.e., not Interest Radar) platforms that can execute automatic selling on folio?  Thank in advance.

Interest Radar / Analysis Calculation Issue
« on: June 05, 2014, 12:49:02 PM »
Look at this analysis screen:

It's all notes from July 2013 to current.  It's reporting a 0% loss rate even though 582 loans have been charged off.  Given the huge influx of loans in the past 12 months, this is really pulling IR estimated returns way too high.

Investors - P / Prosper 1.0 Settlement
« on: May 23, 2014, 11:25:45 AM »
Does anyone know when the first wave of settlement checks are coming for the Prosper 1.0 class action suit?

Investors - LC / Downloaded notes file - FICO's not accurate!
« on: May 23, 2014, 11:23:19 AM »
All - I just ran across a note of mine where the information on the LC website and the information in the extended note download file disagreed.  The loan is #2276387.

The web shows the 4/22 FICO @ 625-629 but the csv file is showing the same 4/22 date but the FICO range is 680-684.  Interest Radar is also showing the wrong FICO.  I called LC and gave them this info.

This is a HUGE deal for those of us with lots of notes that look to sell distressed notes. >:(

Please look and see if you have this loan and if your download is wrong too.  If so, please call and complain.

Foliofn - LC / Loans for sale down 37%
« on: April 16, 2014, 08:31:08 AM »
I pulled all Current and Issued loans for sale on 3/22 and today... over those 3 weeks, available loans for sale (issued & current) have dropped from 88,563 to 55,922.  That's a pretty dramatic reversal of the overall trend of more and more loans for sale.  Is there a big net buyer out there?  I have not felt any material increase in sales.  Any thoughts from the community?

Investors - LC / Daily data updates moving to quarterly?!?
« on: April 07, 2014, 03:46:39 PM »

Looks like LC isn't going to be providing daily updates on loans that were issues in the most recent quarter.  Not sure of their motivation but I imagine this is going to impact some 3rd party systems???

Interest Radar / Auto-sell and Inventory Management not working
« on: March 26, 2014, 03:05:33 PM »
Auto sell and inventory management don't appear to be working... anyone else having the same issue?

Investors - LC / LC Losses - Potential Tax Strategy
« on: March 08, 2014, 11:31:58 AM »
All - I was doing research on my P2P taxes and I ran across the following in the LC Prospectus...

LendingClub’s determination is not binding on the IRS. If the IRS determines that the Notes are “contingent payment debt
instruments” due to the contingencies described above (or in the future, if LendingClub so concludes with respect to a particular series of Notes), the Notes will be subject to special rules applicable to contingent payment debt instruments. Such rules generally require a holder to (i) accrue interest income based on a projected payment schedule and comparable yield, which may be higher or lower than the stated interest rate on the Notes, and (ii) treat as ordinary income, rather than capital gain, any gain recognized on the sale, exchange, or retirement of the debt instrument and treat any loss recognized on such a disposition as an ordinary loss to the extent of prior OID inclusions and as capital loss thereafter. This discussion assumes that the Notes are not subject to the contingent payment debt instrument rules.

Based on my research, if LC & Prosper notes are considered Contingent Payment Debt Instruments, any losses would be considered ordinary losses (and gains would be ordinary gains).  The fact that the notes are issued by LC and they are certainly contingent on the behavior of 3rd party, I think a strong case could be made for this accounting treatment.  Not sure of how difficult this would make the tax filing but it seems logical to me.

AmCap and/or Peter - any thoughts?

Investors - LC / I've never seen this collection log...
« on: January 23, 2014, 01:07:54 PM »
Loan id: 7049770

1/18/14 (Saturday)   Notified borrower of potential legal action

Interest Radar / Auto Sell
« on: October 25, 2013, 10:58:48 AM »
Has anyone had issues with Autosell today... I canceled all of my sell orders yesterday and IR has yet to relist.

Foliofn - LC / Folio not canceling loan listings when payment made
« on: October 04, 2013, 08:09:38 AM »
All - I just sold two 31+ day late loans at a discount.  Great news except for the fact that a payment was made on the day of the sale and it doesn't appear that LC/folio is canceling the transaction.

Can anyone give insight to this situation?  What time of the day does LC post payments and is there some lag in Folio?

For any sleuths out there, the load id is 2086846

Interest Radar / FICOs are Updated for September
« on: September 24, 2013, 02:23:14 PM »
My portfolio has an average age of 5 months according to IR (I do a lot of buying and selling) and here's my FICO trend breakdown by remaining principal:

Down - 16.8%
Flat - 17.5%
Up - 65.7%

Average interest rate:21.68%
IRR: 16.24%

What's your breakdown look like?

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