Author Topic: PRIME filters / check yours  (Read 6898 times)

Amelia

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PRIME filters / check yours
« on: April 04, 2014, 03:07:22 PM »
In February I noticed that my PRIME filters weren't working 100%.  While they worked fine in the main platform, once it was assigned to PRIME, it stopped.

In this case I am using:
Inquiries in the last 6 months = 0
Loan Purpose
Location State

The Inquiries filter is not working and for a month I was buying loans that had 1-3 inquiries. 

In speaking with LC they were able to duplicate the problem but had no solution except to suspend my Prime account until it was resolved which, as of today, still remains open. 

Fred93

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Re: PRIME filters / check yours
« Reply #1 on: April 04, 2014, 03:57:55 PM »
So, did you ask for your money back on the non-conforming loans?

Rob L

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Re: PRIME filters / check yours
« Reply #2 on: April 04, 2014, 08:09:47 PM »
Wow! No excuse for the LC software faux pas, but whatever happens you might not be hurt too badly by the loss of the inquires = 0 filter.

My NSR returns (only 7 months age) are:
Inqiures      ROI
    0            10.78%
    1            13.42%
    2            11.84%
    3            11.42%
  >3            17.05%
It's pretty clear that, over time, LC has improved their model to compensate the lender for the additional risk by increasing the interest rate charged to borrowers with inquires > 0.

Inquires isn't the filter it appears to be when looking at past returns.

PeerSocialLending

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Re: PRIME filters / check yours
« Reply #3 on: April 07, 2014, 02:36:25 PM »
Rob how many notes are in each of those buckets? That could definitely make a difference as well.
-Ryan
p2p lending blogger @ www.peersociallending.com

Rob L

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Re: PRIME filters / check yours
« Reply #4 on: April 07, 2014, 05:18:22 PM »
Inqiures      ROI          # Notes
    0            10.78%       1,742
    1            13.42%       1,071
    2            11.84%          418
    3            11.42%          191
  >3            17.05%           34

All except >3 statistically significant I should think.

PeerSocialLending

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Re: PRIME filters / check yours
« Reply #5 on: April 07, 2014, 08:02:27 PM »
Inqiures      ROI          # Notes
    0            10.78%       1,742
    1            13.42%       1,071
    2            11.84%          418
    3            11.42%          191
  >3            17.05%           34

All except >3 statistically significant I should think.

Agreed, thanks for sharing!
-Ryan
p2p lending blogger @ www.peersociallending.com

Fred

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Re: PRIME filters / check yours
« Reply #6 on: April 07, 2014, 09:36:54 PM »
All except >3 statistically significant I should think.

How (statistically) significant are they?  What are the p-values?

Thatguybil

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Re: PRIME filters / check yours
« Reply #7 on: April 07, 2014, 10:02:01 PM »
All except >3 statistically significant I should think.

How (statistically) significant are they?  What are the p-values?
Or confidence interval?

I will go back to my hole?

Rob L

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Re: PRIME filters / check yours
« Reply #8 on: April 08, 2014, 02:35:23 AM »
How (statistically) significant are they?  What are the p-values?

Inqiures      ROI          # Notes       p            significance
    0            10.78%       1,742
    1            13.42%       1,071         0.027    strong significance
    2            11.84%          418         0.124    not significant
    3            11.42%          191         0.172    not significant
  >3            17.05%           34          0.207    not significant

 >1             11.50%         643         0.081     moderate significance

This table keeps getting bigger

james

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Re: PRIME filters / check yours
« Reply #9 on: April 08, 2014, 02:50:50 AM »
What stats test are you using? 

Does the business world not use the same p 0.05 threshold scientists use for significance? 
Be first, be smarter, or cheat. 2 of 3 ain't bad.

Booleans

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Re: PRIME filters / check yours
« Reply #10 on: April 13, 2014, 12:21:31 PM »
What stats test are you using? 

Does the business world not use the same p 0.05 threshold scientists use for significance?

Maybe it's just the business people I know but I'm under the impression that the vast majority of the "business world" has no idea what a p-value even is.

Thatguybil

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Re: PRIME filters / check yours
« Reply #11 on: April 16, 2014, 01:53:41 AM »
What stats test are you using? 

Does the business world not use the same p 0.05 threshold scientists use for significance?

Maybe it's just the business people I know but I'm under the impression that the vast majority of the "business world" has no idea what a p-value even is.

Indeed and the idea of being strongly significant or weakly significant is also foreign to me.
It either is or is not significant.

Confidence intervals for the ROI would likely be more appropriate.