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Messages - PennySaved

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Investors - LC / Re: DSP Email From Fidelity
« on: December 02, 2014, 09:45:52 PM »
I signed up for 350 shares.  As of Sept 30, I had $30K in my main LC account and $23.5K in my Roth LC account.  Thanks for all the folks posting info and alerts.  I am glad I check this site everyday.  The Fidelity emails have come to my email address for my LC Roth account, which is the email address I don't use and check very often.

Investors - LC / Re: Lending CLub IPO / pop or long term?
« on: November 26, 2014, 12:34:42 PM »
Note the following from Fidelity's FAQs on IPOs about selling shares after 15 days:

When can I sell my shares?

As with any investment, you are free to sell the securities obtained during an IPO whenever you determine it is appropriate for you. However, if you sell within the first 15 calendar days from the start of trading in the secondary market, it will affect your ability to participate in new issue equity public offerings through Fidelity for a defined period of time.
You will be prevented from participating in the IPO process if you are considered a flipper. The defined period of time which you will be prevented from participating depends on how many times you have flipped shares in the past:
First time: 180 days
Second time: 365 days
Third time: permanent ban from participating in IPO process

I got the Fidelity email also at 3:33 pm EST.

Just got the following notice from Fidelity.  It seems this whole thing is being mis-managed.  The click "HERE" contained no link (not in the email or in the source code to the email - I'm not dumb).  I also tried to reply to the email and got a bounce message clearly meant only for internal fidelity use...

As you may know, Lending Club filed a registration statement with the Securities and Exchange Commission to sell common stock through an initial public offering (IPO). Lending Club currently expects to reserve a portion of its IPO shares for investors like you through a directed share program (DSP) administered by Fidelity Investments (“Fidelity”).  [deleted part of message for brevity].....
 An indication of interest in response to this email will involve no obligation or commitment of any kind.

Just for fun, I today replied to the 11/8 email message I received from LC about the IPO to see if I would get any return message like you received.  I have not seen one yet.  I also again clicked on the LC email link again and it works.  Takes me a page where I have to sign into my LC account.

I checked my spam folders too- don't see any email there from LC regarding IPO

For whatever it's worth, I rechecked my emails for both main and Roth LC accounts.  I did not get another email about the LC IPO.  I only have the one sent on 11/17/14 at 4:10 pm to my Roth LC account email address.

I did not see the LC IPO email from Lending Club in my inbox for the email address I use for my main LC account.  So I decided to check the email for my Roth LC account (different email address) and the IPO email was there.  I hardly check this email.  So when I click on the link in the IPO email, it takes me to  a LC sign-in page with my main LC account email address (not the Roth LC email address) and so I signed in with the main LC email address.  Kinda confusing.  I do have a Fidelity account, mostly to take advantage of the 2% cashback Fidelity Amex. 

Investors - LC / Re: Lendinc CLub vs. BIC comparison
« on: November 12, 2014, 04:52:45 PM »

"Last Year We Paid All Our Members 33%

We offer a minimum return of 15%, a guarantee of principal, 100% liquidity, no fees and no minimum investment. We can do rollovers from any type of retirement account with no taxes. 100k at 30% will give you about 30k per year of income."

Sounds fantastic!.....or what?......   Here I am plodding away with only 9% return when I could be getting 15% and not losing principal :o

Interesting on their page comparing themselves with Lending Club, they claim they will swap out a defaulted note with a new note.

"What do you mean by helping new members with losses?

Although it hasn't happened yet, we don't want any of our members to have a bad experience, especially when they're just getting started. So if you have a late payment or a default soon after opening your account, we'll just swap out those notes with some new ones up to $50."

They are so new at this that a late or default "hasn't happened yet".

Interest Radar / Re: Rev- auto invest error
« on: October 29, 2014, 06:08:02 PM »
Never mind my questions.  I think I found what I was looking for on Interest Radar.  I had to go back to home page and then click on "Subscribe now".  Apparently, I still have the subscription:  "You have an active recurring subscription. You can only start a new subscription when the current one is cancelled and expires."

Interest Radar / Re: Rev- auto invest error
« on: October 29, 2014, 05:59:11 PM »
I have not been seeing any Interest Radar auto-invest emails for a couple of days?  How does one determine if my subscription has expired?  I logged onto Interest Radar website, but I cannot find where my subscription information is or how to pay for it?

Investors - LC / Re: Calculate your percentile rank vs other LC accounts
« on: October 29, 2014, 11:14:59 AM »
My results:

Your Percentile:
vs All Accounts: 58
vs Similar Age Accounts: 80

Using this data:

Your Notes purchased on the Lending Club platform
Adjusted Net Annualized Return:   9.21%  (This is adjusted figure for past due notes)
Weighted Average Interest Rate:   14.60%
Weighted Average Age of Portfolio:   17.8 mos
Number of Notes:   1,844

I sold some notes on Folio last year, but not any this year.  Too time consuming for me. I am using Interest Radar to autoinvest this year.

Investors - LC / Re: Discover getting into consumer loans
« on: September 10, 2014, 09:45:42 AM »

Did you get a full $30000 deposited?  No origination fee?  If so, this is a great deal!

Sent from my iPhone using Tapatalk

I got the full $30,000.  Now it's time to go new car shopping.

Investors - LC / Re: Discover getting into consumer loans
« on: September 09, 2014, 04:22:38 PM »
Wow- did online loan application Friday night.  On Saturday, I received an email from Lightstream that I got approved for a new car loan for $30K at 1.99% for 36 mos.  Signed loan agreement electronically and did electronic verification by submitting a personal credit card number.  I am supposed to get funds electronically deposited to my checking account on Tuesday. This was very easy and quick.  No information about vehicle to be purchased was required.

Wow, indeed!  Please keep us posted next week when you get the funds.

It's kind of scary of how easy it is to get approved; however, it's also good to know.  I might take this route when I need cheap unsecured loan in the future.

Here is an update. I got the $30,000 from LightStream deposited into my account today Tues. 9/9.  I had applied for the loan on the Friday evening 9/5.  So getting the money was pretty fast.

Investors - LC / Re: New to LC - Need advice on deploying 250k
« on: September 08, 2014, 09:30:24 PM »
Hello All!

I'm new to LC and need advice on deploying 250k. I've had my account active since Friday. It’s been challenging finding quality notes! I back tested a few filters on NRS and Interest Radar. I set Interest Radar to auto invest, but I seem to get more notes by manually executing right at 6am, 10am, 2pm, and 6pm. Do 3rd party sites using API not get data at the same time its posted to LC? Does anyone have any recommendations for API/Auto investing? I'd like to keep the notes at $200 increments to maintain marketability on Folio. Also, does anyone have a good strategy for buying notes on folio?

Thank you everyone in advance!


If you are new to investing at Lending Club, I would suggest reading info on these pages at least.

You may want to invest less than $200 per note when first getting started.  It will take a while to get $250K invested and you want to keep your investments diversified among as many notes as possible.  You will get defaults and and unless your early money is spread out across a lot of notes, you may be shocked at the losses you incur and pull out too early.  Also you may want to get a little of experience first, before investing larger amounts per note.

I used to invest manually, but now I use Interest Radar.  But I have less than $20K invested.  I only invest $25 per note.

I have not sold much on the secondary market, but I thought others had said that the larger notes are harder to sell.

Investors - LC / Re: Discover getting into consumer loans
« on: September 07, 2014, 01:31:05 PM »
Lightstream also offers a "Customer Experience Guarantee" as described on this page:

"We guarantee you a better experience.

After receiving your loan from us, if you are not completely satisfied with your experience, please contact us.
We will email you a questionnaire so we can improve our services. When we receive your completed questionnaire, we will send you $100.
Our guarantee expires 30 days after you receive your loan. We reserve the right to change or discontinue our guarantee at any time. Limited to one $100 payment per funded loan."

I have no complaints so far about the loan process, but I have not gotten the funds yet.  I will report back when I do.  I guess if you get turned down for the loan, you would not be eligible to get the post-loan questionaire $100.

You can also see more explanation about Lightstream loans on the FAQ page at
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