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Messages - investny

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Investors - LC / Re: Is LC no longer interested in retail investors?
« on: October 30, 2018, 09:43:56 PM »
I'm actually using 3rd party automated tool to pick loans.
The volume of notes that the tool is able to select decreased drastically on October 1 and still did not improve.

Not sure if overall volume of LC loans available to individual investors has decreased or my filters are too tight for current LC notes. Given that overall interest rates for safe investments (money market, 12-18 months CD) have increased from around 1.5% a year ago to close to 2.7+% right now, LC's interest rates have not kept up to justify additional risk.

Given above, LC definitely needs to come up with some sort of money market account of idle cash similar to what Peter described in today's article.

Investors - LC / Re: Is LC no longer interested in retail investors?
« on: October 15, 2018, 11:28:43 PM »
I noticed that starting October 1 the number of LC loans that match my filters dropped by 80-90%. At first i thought that this happened because LC pulled most loans into end of September to hit their Q3 numbers. But its been 2 weeks and the volume did not pick up.

LendingRobot / Lending Robot NSR Invest merger
« on: June 15, 2018, 02:12:15 AM »
Several questions about the merger:

Do you know when the 2 platforms will be merged?
When will the estimated returns be available again in Lending Robot?
Will Lending Robot app work again?
Will the new version keep the same rule structure for buying notes as the current Lending Robot especially the LR Score?

Investors - LC / Re: IRA preferred custodian change
« on: February 27, 2018, 03:18:45 AM »
I suppose they will still be covering the fee.

Investors - LC / Re: IRA preferred custodian change
« on: February 26, 2018, 04:10:26 AM »
What did LC say about the change?

Investors - LC / IRA preferred custodian change
« on: February 18, 2018, 01:18:52 AM »
I have my IRA account at Strata Trust Company (the old SDIRA).
Right now LendingClub's preferred IRA custodian is IRA Services Trust Company (ISTC).

Is there any reason to switch IRA custodians?
Did anyone do it? Was it a lot of trouble/paperwork?

General P2P Lending Discussion / Prosper possible class action lawsuit???
« on: November 03, 2017, 01:29:17 AM »
I just saw an ad on Facebook for this site

Looks like some lawyer lead gen for class action lawsuit.

The "best part":

"If the loan you were given is deemed not valid due to a licensing issue, verification of required documents or any other requirement under the law that debt will be deemed invalid and you will no longer have to repay that loan.
If you owe more than $10,000 to Prosper Marketplace there is a strong opportunity for you to have the total balance of that loan forgiven."

If this is real i wonder if that will also impact LC?

Investors - LC / Re: Suspicious loans
« on: October 17, 2017, 10:46:26 PM »
Here is another one FICO 745+ stopped paying after 1 payment Loan 112020462

Investors - LC / Re: Suspicious loans
« on: October 11, 2017, 01:18:18 AM »
Another strange thing is that LC gave that loan a C5 grade.
Based on FICO, income and DTI i would think that it would be a high B or maybe even an A grade loan.

So did LC knew something they did not disclose in the data fields?

Investors - LC / Re: Suspicious loans
« on: October 10, 2017, 09:17:14 PM »
The loans are not charged off yet. For now they are in 60-120 days past due.

Here are the details on one of the loans.
I guess a "driver" with $109,000 income should have given it away as fraudulent

Investors - LC / Re: Suspicious loans
« on: October 09, 2017, 10:56:37 PM »
Contact LendingClub and claim that these loans are fraudulent and you want refund. Let them investigate.

I did email LC before posting here. This is their reply

"I have reviewed the loans listed in your email. I can confirm that the loans are being handled per our normal collection procedure. "

Investors - LC / Suspicious loans
« on: October 09, 2017, 10:29:15 PM »
These people stopped paying after making 1 payment and some made 0 payments even though they have $70,000-100,000 incomes and 700+ credit scores.
I wonder if these loans are fraudulent/identity theft related?

Loan 110966900
Loan 111907477
Loan 110353528
Loan 110437025
Loan 112712947

Investors - LC / Re: a view of LC's deteriorating investor returns
« on: April 27, 2017, 01:17:38 PM »
Here is a simple summary of returns for beginning of 2016

another way to look a defaults

The around 7% return on C grade loans does not look bad to me.

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