Author Topic: The thread for unashamed griping  (Read 81117 times)

Rob L

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Re: The thread for unashamed griping
« Reply #15 on: June 27, 2013, 09:34:41 PM »
I checked IR's loan description analysis and it seems the use of the term "money pit" doesn't hurt your rating. Can't say about "deadbeat" or "scam the suckers".

Lovinglifestyle

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Re: The thread for unashamed griping
« Reply #16 on: June 27, 2013, 11:08:51 PM »
As of yesterday evening, I had two dozen "approved", and none moved to "issued" this morning.   I have one I'm pretty sure was approved late Thursday, so today would be the fifth day.  The rest have been approved since.   It seems like LC changed their policy, because before approved and funded loans moved to issued the next day.  I know in Florida, a borrower has 3 days to back out of a contract and return the money, so maybe LC had to put in a mandatory waiting period?  I now have 32 loans "approved", I'll let you guys know what happens tomorrow ...

Do you click through each one in review to see if its status has moved to approved?  I've never thought to do that!  I just now tried looking at about 10 and found one that said approved in the middle of the review list, but no way am I going to look at all of them.

Most likely you're right about the borrower deciding not to accept the loan after approval.

JDowding

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Re: The thread for unashamed griping
« Reply #17 on: June 28, 2013, 09:56:38 AM »
LOL. I wonder, if you had numbers that matched enough people's filters, if you could get a loan funded with a title like "I'm a deadbeat!" or "scam the suckers"...

I was thinking, gee, I would buy that.  Then I checked, I *did* buy that :-).

Today's newbie question:   Is there an easy way to search for a loan by loan id?

New Jersey Guy

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Re: The thread for unashamed griping
« Reply #18 on: June 28, 2013, 10:07:29 AM »
"Is there an easy way to search for a loan by loan id"

Interest Radar allows it.  The only stipulation is that you need to have your notes uploaded to the site.

It does come in real handy.
Return over deposits:   66.82%
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As of April 30, 2014

New Jersey Guy

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Re: The thread for unashamed griping
« Reply #19 on: June 28, 2013, 10:16:47 AM »
There's a bothersome fly in my office this morning.
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

GS

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Re: The thread for unashamed griping
« Reply #20 on: June 28, 2013, 02:53:48 PM »
None of my notes issued today, either ... I just checked and I've only had 3 new loans issued in the last two weeks.  There's about 40 now that are "approved".  I've been buying 10-15 a day since my IRA funded 3 weeks ago, so I have quite the stockpile of pending notes earning nothing.
« Last Edit: June 28, 2013, 03:01:07 PM by GS »

New Jersey Guy

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Re: The thread for unashamed griping
« Reply #21 on: June 28, 2013, 05:58:49 PM »
The fly is gone.  I killed it.
Return over deposits:   66.82%
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As of April 30, 2014

SarahV

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Re: The thread for unashamed griping
« Reply #22 on: June 28, 2013, 06:10:54 PM »
The fly is gone.  I killed it.
Isn't that more like gloating than griping?

I have had three allegedly-good notes go bad in three days.  :(  One of them is on the first payment and it has a 409 IR01 score! Bah.

New Jersey Guy

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Re: The thread for unashamed griping
« Reply #23 on: June 28, 2013, 07:52:59 PM »
"Isn't that more like gloating than griping? "

Well, at first it was griping.  The damn thing was making me nuts, and no matter what I did, I couldn't get it to land on a level area so I could squash it.

But, I stalked it, learned it's habits, analyzed it's tactics, and got extra intel off the net.
Eventually, it made a mistake.  And when it did, I owned it.

Glad to get this off my chest.

Oh, by the way.  I thought you were bragging to Rawraw about how "Pristine" your notes were.  I smelled those 3 notes the moment I clicked onto this thread! 
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rawraw

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Re: Re: The thread for unashamed griping
« Reply #24 on: June 28, 2013, 11:49:33 PM »
The fly is gone.  I killed it.
Isn't that more like gloating than griping?

I have had three allegedly-good notes go bad in three days.  :(  One of them is on the first payment and it has a 409 IR01 score! Bah.
And she had the nerve to call her notes pristine....

Lol at NJ saying the same thing

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SarahV

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Re: The thread for unashamed griping
« Reply #25 on: June 29, 2013, 12:00:53 AM »
When I wrote that post I had already sold the first two bad ones and the third hadn't gone bad yet ;)  So technically, at that moment, my notes were 100% pristine!

zyamys

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Re: The thread for unashamed griping
« Reply #26 on: June 29, 2013, 02:27:30 AM »
None of my notes issued today, either ... I just checked and I've only had 3 new loans issued in the last two weeks.  There's about 40 now that are "approved".  I've been buying 10-15 a day since my IRA funded 3 weeks ago, so I have quite the stockpile of pending notes earning nothing.

This is nothing new and happens every month. Watch what will happen on Monday - all your approved notes will suddenly issue. LC manipulates the issuance of notes at the end of the month in order hit a desired number for $$ issued per month, which is a 9.0%+-0.1% $$ increase month-over-month. People only pay attention to the monthly issuance, not daily, so this way LC can claim they are managing growth carefully and predictably. Since borrower ad volume leads issuance only by 2-3 weeks, by over-advertising early in the month and holding back the extra loans at end of month they can easily manipulate the monthly issuance to be whatever they need.

New Jersey Guy

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Re: The thread for unashamed griping
« Reply #27 on: June 29, 2013, 07:45:49 AM »
"When I wrote that post I had already sold the first two bad ones and the third hadn't gone bad yet"

Yea, well it seems you're listing notes on Folio faster than me.  And that's not saying much because everybody knows I own moldy notes. 

So quite covering up.  Just come out and admit it!
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GS

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Re: The thread for unashamed griping
« Reply #28 on: June 29, 2013, 09:11:27 AM »

This is nothing new and happens every month. Watch what will happen on Monday - all your approved notes will suddenly issue. LC manipulates the issuance of notes at the end of the month in order hit a desired number for $$ issued per month, which is a 9.0%+-0.1% $$ increase month-over-month. People only pay attention to the monthly issuance, not daily, so this way LC can claim they are managing growth carefully and predictably. Since borrower ad volume leads issuance only by 2-3 weeks, by over-advertising early in the month and holding back the extra loans at end of month they can easily manipulate the monthly issuance to be whatever they need.

Thank you.  That is a great explaination, and I thought there might be a bias towards issuing notes early in the month.  I also have a smaller taxable account that at one time had about 50 notes in it (I've been selling them off), and I had noticed that in that account only 3 of the 50 notes were issued after the 20th.

rawraw

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Re: Re: The thread for unashamed griping
« Reply #29 on: June 29, 2013, 10:52:56 AM »
When I wrote that post I had already sold the first two bad ones and the third hadn't gone bad yet ;)  So technically, at that moment, my notes were 100% pristine!
We are onto you.... You're notes are so far from pristine! You just don't realize it until they go bad ^_^

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