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Messages - Kombinator

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31
Investors - LC / Re: Recovery payments in API: where do they show
« on: February 23, 2015, 01:48:00 PM »
I see lots of views, but no replies yet, some of the wizards here must know this: does the recovery amount show up as a separate line item somewhere in the API, does it get added to principal received in a back dated fashion somehow...they clearly track it, as the values are showing on the website...

32
Investors - LC / Recovery payments in API: where do they show
« on: February 23, 2015, 10:08:45 AM »
Wanted to see if anyone knows where do the recoveries that we receive on charged off loans show up in the API?

33
Investors - LC / Re: LC Business Loans
« on: February 17, 2015, 09:40:55 AM »
Process is similar to Funding Circle, Kabbage or any other platform that does unsecured small business loans

Except Kabbage captures the merchant's bank data via yodlee, not paper statements like it's 1992. Funding Circle does a full manual human underwrite just like a bank would. LC's business loan underwriting is worse than both by a longshot.

Good to know, I will give them a call once they do make the business loans available, but for now will definitely keep allocating to Funding Circle, they have a great team and solid framework (although they are only slowly and painfully getting up the learning curve on the technology side).

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Investors - LC / Re: LC Business Loans
« on: February 12, 2015, 09:41:14 AM »
Process is similar to Funding Circle, Kabbage or any other platform that does unsecured small business loans

35
Investors - LC / Re: LC Business Loans
« on: February 11, 2015, 02:55:01 PM »
They lend on the strength of the underlying business cash flows, ebitda, debt load and coverage etc, the borrowe is a secondary metric.

36
Investors - LC / Re: LC Business Loans
« on: February 11, 2015, 09:35:27 AM »
Yes, I think there you look at the business details and also the main borrowers FICO scores as a reference point, also if they have any guarantors.  Curious when these will become available on a platform, they have been beta testing them for about a year now.

37
General P2P Lending Discussion / Re: Kickfurther: Inventory crowdfunding
« on: February 11, 2015, 09:32:06 AM »
So basically a variation of Kickstarter that actually pays you back a little fee for helping the product fund, not a bad idea if you like the product anyways, but in terms of investment outright not so great, returns way too low

38
Foliofn - LC / Re: LC Phone Call
« on: February 09, 2015, 09:48:32 AM »
Absolutely, adding a viable secondary market that provides liquidity will greatly increase the value of this asset class for investors, pretty sure something will happen via either guys like Orchard or someone else.

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Investors - LC / Re: FICO drop exemplar grande
« on: February 03, 2015, 10:42:20 AM »
Wow, so it is still paying every month and is current at sub 500 FICO...I wonder what the story here is

40
Investors - LC / Re: 3 weeks in review
« on: January 22, 2015, 09:58:55 AM »
Very much agree, LC has a long way to go on operational efficiency, customer service and technological savvy

41
General P2P Lending Discussion / Re: Direct Lending Investments
« on: January 22, 2015, 09:57:30 AM »
They are not that that big, it is called good fund PR:) They make these announcements that they commit up to 100MM, 250MM etc, the a mount actually invested can be 10MM and still not be a lie.

42
Investors - LC / Re: 3 weeks in review
« on: January 21, 2015, 09:55:32 AM »
On one hand really annoying and unprofessional and cash draggy...on the other, inc ase they are actually reviewing or waiting for docs, much better than quickly funded and then defaulted:)

43
One just uses a regular baseball bat, the other more advanced techniques like cattle prods and barbed whips, you need advanced training for those:)

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FolioFN - Prosper / Re: Folio FICO updates or lack thereof
« on: January 16, 2015, 09:45:32 AM »
Yep, it is indeed a very low early 90's style bar to breach, hopefully Prosper will get around to it sooner rather than later.

In terms of sales it has not been my experience that loans get snapped up on Prosper Folio.  I have sold some notes on there but it takes some time, and none of them were bad, mostly just portfolio rebalancing.

45
Investors - P / Re: Flurry of pre-paids
« on: January 16, 2015, 09:43:33 AM »
Yep, had some issues on that front as well...little odd, haven't called them yet but possibly will if nothing by next week.

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