Author Topic: Odd  (Read 2990 times)

Show Me The $

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Odd
« on: April 25, 2013, 07:43:58 PM »
Ey guys n gals

Yesterday my account balance was a few dollars more than today. However, nothing happened in my account that was negative, in fact it was positive yet balance went down. No loss, late etc. nothing in account activity either that would indicate a drop..... Very strange


GS

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Re: Odd
« Reply #1 on: April 25, 2013, 08:31:20 PM »
Yeah, I've noticed this too ... I think it's because when a note becomes due, they will subtract the accrued interest for those notes from your account total at some point before it posts to cash.  It seems like there is 24 hour lag between the time the note is posted as "paid" (and the accrued interest adjusts down), and the time the cash is posted.  Did you have notes post as "paid" today?
« Last Edit: April 25, 2013, 08:41:12 PM by GS »

New Jersey Guy

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Re: Odd
« Reply #2 on: April 25, 2013, 10:21:07 PM »
They send that extra cash to me.
Thanks guys!
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

Fred

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Re: Odd
« Reply #3 on: April 26, 2013, 12:45:12 AM »
I think it's because when a note becomes due, they will subtract the accrued interest for those notes from your account total at some point before it posts to cash.

Yes, this is most likely timing issue.  I also often noted that when a note is paid-off, the principal is subtracted one day, but the cash is posted on the next day.

LC transactions are not "atomic".  ;)

Show Me The $

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Re: Odd
« Reply #4 on: April 26, 2013, 03:54:34 PM »
Yeah, I've noticed this too ... I think it's because when a note becomes due, they will subtract the accrued interest for those notes from your account total at some point before it posts to cash.  It seems like there is 24 hour lag between the time the note is posted as "paid" (and the accrued interest adjusts down), and the time the cash is posted.  Did you have notes post as "paid" today?

Yeah that must be it, I did have one pay off...again, after 1 payment

GS

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Re: Odd
« Reply #5 on: April 26, 2013, 07:53:05 PM »
It's not always a "paid off" issue.  I tried to attached some screen shots because I have one today that's in that exact situation.  This note was due 4/22, the payment posted today on the note's info screen, the accrued interest set back to $0.03 (4 days interest), but the cash has not posted yet, so my account shows $0.22 less right now than it did this morning.  When the cash updates, it will be back to normal. 

In the attached images below, the first shows the note that paid today.  The second shows my portfolio view (the top note), which still shows $0.00 received, and the accrued interest set back to $0.03.  The negative $0.22 difference in my account total is my interest for the note ($0.21) and the $0.01 service fee. 

Lending club has a weird way of doing things, but it always seems to catch up and be accurate by the next day.

[attachment deleted by admin]
« Last Edit: April 26, 2013, 07:54:42 PM by GS »

Lloigor

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Re: Odd
« Reply #6 on: April 29, 2013, 01:56:57 PM »
Lending club has a weird way of doing things, but it always seems to catch up and be accurate by the next day.

Agreed.  for a tech startup company you'd think they could manage the IT to have all of the transactions show up at the same time.  All the myriad issues people bring up here about account discrepancies do "appear" to work themselves out after 1-4 days, but it shouldn't be that hard for things to display correctly too.