Author Topic: What's wrong with this loan?  (Read 2833 times)

IrishMoss

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What's wrong with this loan?
« on: July 19, 2013, 05:57:36 PM »
My account funding finally cleared today.  Yea!  ;D
So I've finally started buying some notes based on some basic criteria from the research I've done over the past week.
Here's one I bought:  https://www.lendingclub.com/browse/loanDetail.action?loan_id=3696693
I know it was only applied for this morning, but why does it only have $425 of funding so far?  All the other notes in my portfolio seem to be getting funded at a much faster pace. 
Is there something unappealing about this loan?

brycemason

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Re: What's wrong with this loan?
« Reply #1 on: July 19, 2013, 06:05:42 PM »
Modest revolving balance. 5 year loan. Relatively lower interest rate (not as high a chance for a big win).

SarahV

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Re: What's wrong with this loan?
« Reply #2 on: July 19, 2013, 06:13:58 PM »
Maybe the title "cons" is scaring people off. I mean, you hope it's short for consolidation, but...

LonghornSF

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Re: What's wrong with this loan?
« Reply #3 on: July 19, 2013, 06:15:27 PM »
Just a low interest rate on the loan. There's nothing wrong with the loan itself which seems reasonably high quality. Personally, I don't do any loans with <13% interest rate, but I have a high risk appetite.

GS

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Re: What's wrong with this loan?
« Reply #4 on: July 19, 2013, 07:38:41 PM »
It looks like a good safe note to me.  It's in my Filter, and it meets my manual payment/income check, so I'd buy it.

It's the best C-D-E-Fs that fund quickly, the good A-B notes tend to hang around a while.

IrishMoss

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Re: What's wrong with this loan?
« Reply #5 on: July 19, 2013, 09:38:30 PM »
Thanks for the replies.  I just wanted to make sure I wasn't missing some big red flag.
Just seemed strange to me that similar looking loans had 10x the funding in less time.  ???


Randawl

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Re: What's wrong with this loan?
« Reply #6 on: July 19, 2013, 10:18:11 PM »
...similar looking loans had 10x the funding in less time.  ???

Similar looking in perhaps everything except one of the most important elements - the interest rate!