Author Topic: Lot of loans but not quality loans  (Read 16214 times)

kya

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Re: Lot of loans but not quality loans
« Reply #30 on: June 26, 2015, 10:17:19 PM »
all i know is my cash pile is increasing by the hour with notes that were not issued....

LendForFun

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Re: Lot of loans but not quality loans
« Reply #31 on: June 26, 2015, 10:24:56 PM »
Yep, I'd guess a lot of your loans aren't getting 100% funded because the big lender or lenders went away.

What I wonder is where they went and will they return at the beginning of next quarter or did something else happen?

lascott

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Re: Lot of loans but not quality loans
« Reply #32 on: June 27, 2015, 10:14:15 AM »
However, this is all very sudden.  The data geek in me is asking, why all of a sudden am I going from a handful of notes to just under 100 notes.  The data geek in me is wondering if this is in error, that the data we are being provided with and the filtering criteria is this accurate?  Is LC being flooded with a number of stolen identities?  Is this like the flood of notes a while back that were pulled back?  What is driving this huge increase in loans becoming available?

I know we don't know the answers, but when something changes significantly, it's time to question what changed?  I mean, I don't mind having a bigger selection, but what is driving so many notes becoming available all of a sudden?
I have only been here ~1.5 years but it has been quite a ride with a lot of events changing the ebb and flow of notes coming into the retail market.  There was a whole 3rd party tools dilemma, then eventually a new API was released to use tokens vs name/password. At the end of some months, loan issuing would seem to stop then start at the beginning of the month. At the end of some quarters (ahem June being an end of quarter) strange things would happen ... perhaps more so now that LC did their IPO in Dec ... and we've only had a couple quarters to see the effects.  History file/data being release on a quarter basis.  LC getting various new sources since it IPO'd including banks, etc, etc. 
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

Rob L

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Re: Lot of loans but not quality loans
« Reply #33 on: June 27, 2015, 11:50:17 AM »
"Pay no attention to the man behind the curtain".

rawraw

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Re: Lot of loans but not quality loans
« Reply #34 on: June 27, 2015, 12:43:07 PM »
I think the fact that when I started, you had to wait a week for a loan to reach 100% funding status, makes me more patient lol

LendForFun

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Re: Lot of loans but not quality loans
« Reply #35 on: June 27, 2015, 12:48:37 PM »
Yea, up until a week ago the good loans (20-30 per release) were going to 100% within a few minutes. 

AnilG

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Re: Lot of loans but not quality loans
« Reply #36 on: June 27, 2015, 01:00:33 PM »
I think the fact that when I started, you had to wait a week for a loan to reach 100% funding status, makes me more patient lol

One week!! We waited two weeks for loan to be fully funded, and got our money back because loan didn't fully fund. Even if the loan was funded, it took another month for decision whether to issue the loan. Those were the days.

New crop is spoiled.
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LendForFun

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Re: Lot of loans but not quality loans
« Reply #37 on: June 27, 2015, 01:35:14 PM »
Spoiled maybe but still surprised at the lack of understanding about what happens "behind the scenes" :)
« Last Edit: June 27, 2015, 01:36:48 PM by LendForFun »

Rob L

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Re: Lot of loans but not quality loans
« Reply #38 on: June 27, 2015, 06:56:45 PM »
What's that old song...
Those were the days my friend
We thought they'd never end
We'd sing and dance forever and a day
We'd live the life we choose
We'd fight and never lose
For we were young and sure to have our way.