Author Topic: Member claims of unusual abilities with LendingClub  (Read 17784 times)

Bohb Daishi

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Re: Member claims of unusual abilities with LendingClub
« Reply #30 on: November 12, 2013, 01:52:50 AM »
Imagine if anyone could trade notes without any Folio fees - third party sites facilitating this service would take over and soon LC would put a stop to it.  It's an unfair advantage to be able to bypass the fees and may incur uncompensated costs to LC they would not otherwise bear.

I do want to point out that the supreme majority of people will not spend spend the 10+ minutes it'll take to do a trade outside of Folio just to save 20 cents on a single note.

Core, I don't believe you about the secret Alt-F4 key combination to re-enable posting processing notes

I can vouch for this; it actually works. You just have to make sure you have the correct part selected first.

The next guy really may go into SFO with an "assault" rifle.  (In the media, every rifle is an "assault" rifle).

Why am I getting the feeling that we are going to be good friends?
There are three ways to make a living in this business: be first, be smarter, or cheat.

storm

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Re: Member claims of unusual abilities with LendingClub
« Reply #31 on: November 12, 2013, 03:12:45 AM »
This forum has a handy ignore feature here:  http://www.lendacademy.com/forum/index.php?action=profile;area=lists;sa=ignore 
It makes this forum much more informative and productive for me, and it's best not to feed the trolls and their already over-inflated egos.

DanB

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Re: Member claims of unusual abilities with LendingClub
« Reply #32 on: November 12, 2013, 03:50:16 AM »
This forum has a handy ignore feature here:  http://www.lendacademy.com/forum/index.php?action=profile;area=lists;sa=ignore 
It makes this forum much more informative and productive for me, and it's best not to feed the trolls and their already over-inflated egos.

Thank you Storm for reminding me of that handy feature. I've decided to ignore posters from states that have voted red in the last 10 or more consecutive presidential elections...............if these posters also describe themselves as being cheap in 5% or more of their posts. It makes this forum much more informative and productive for me,  as I find it's best not to encourage such behaviour in tandem. Regrettably you make the above cut so goodbye & good luck  :)

rawraw

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Re: Member claims of unusual abilities with LendingClub
« Reply #33 on: November 12, 2013, 06:51:04 AM »
Core, I'd be interested in hearing what you've discovered if you ever feel like sharing.  I've always admired the creativity some programmers have.

Joleran

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Re: Member claims of unusual abilities with LendingClub
« Reply #34 on: November 12, 2013, 09:14:19 AM »
Core did reveal his mighty secret in PM's, and that secret can hold no longer.  Lending club's restrictions are entirely on the front-end client GUI side, so if you use a program or website to sell notes there are no checks against posting notes.  So core didn't have to do anything different to keep posting his processing notes.

Is this simple incompetence or a nod toward those with third party tools being the way of the future?

99greenballoons

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Re: Member claims of unusual abilities with LendingClub
« Reply #35 on: November 12, 2013, 10:10:28 AM »
Probably isn't incompetence, merely a business decision.  Client-side validation will settle it for 95% of users, looks nicer, and is often implemented more quickly.

You already research loan statistics and borrower trends to squeeze in an extra couple percentage points with finely-tuned filters.  If you think using a "third party tool" (of which several are freely available that I think will suffice here) will be enough to squeeze in a couple more percentage points, then maybe it's worth your time to do a bit of technology research too?  It's not any more complicated, really.  Almost certainly less so.

Joleran

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Re: Member claims of unusual abilities with LendingClub
« Reply #36 on: November 12, 2013, 10:27:43 AM »
All I know it's going to be very helpful for posting those fake processing notes that are on payment plans and not actually processing.  Sucks for people who aren't aware of the posting tools.

rlv99

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Re: Member claims of unusual abilities with LendingClub
« Reply #37 on: November 12, 2013, 11:08:45 AM »
Considering some of the "elevated" ages around here, I just don't see the endgame. None of you are ever going to be "poor", don't you get it yet? 


What does "poor" have to do with anything, Dan?  Making money, for some, is the "endgame" in itself. Lord knows, there are plenty of people who some may judge as poor who have no intention of making money themselves, but feel justified in accepting money that is earned by others.  Being in a blue state must have corroded your long term thinking! BTW, let our "community" know what happens today at LC.  Isn't the 11th floor
where Stephanie is caged?

For the low fee of $5/mo, you will receive a picture of your deer promptly each month 4 business days aftert the 1st.  Unless there's a holiday in there or "payment procesing delay". 

Hey, core, if I subscribe do I get naming rights?


DanB

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Re: Member claims of unusual abilities with LendingClub
« Reply #38 on: November 12, 2013, 12:38:48 PM »
Considering some of the "elevated" ages around here, I just don't see the endgame. None of you are ever going to be "poor", don't you get it yet? 
 

What does "poor" have to do with anything, Dan?  Making money, for some, is the "endgame" in itself. Lord knows, there are plenty of people who some may judge as poor who have no intention of making money themselves, but feel justified in accepting money that is earned by others.  Being in a blue state must have corroded your long term thinking! BTW, let our "community" know what happens today at LC.  Isn't the 11th floor where Stephanie is caged?

For the low fee of $5/mo, you will receive a picture of your deer promptly each month 4 business days aftert the 1st.  Unless there's a holiday in there or "payment procesing delay".   

Hey, core, if I subscribe do I get naming rights?

Yes, for others, filling ones house with products they buy on sale but will never use or even look at again........... is the endgame.  For others filling ones home with 200 cats is the endgame. Mental irregularities/illness comes in many forms. Some are just more acceptable than others.

The Stephanie character created by Core's conspiratorial mind isn't an actual person, but an entity with Biblical powers. She cannot be caged or contained on one floor. She permeates through the entire fabric of the company. Of course this is the same conspiratorial mind who thinks that I secretly work for LC at their satellite office in Redwood City & the same mind that admitted yesterday to have attended court mandated sessions with psychologists. Need I say more.  :)

nonattender

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Re: Member claims of unusual abilities with LendingClub
« Reply #39 on: November 12, 2013, 08:33:18 PM »
Core did reveal his mighty secret in PM's, and that secret can hold no longer.  Lending club's restrictions are entirely on the front-end client GUI side, so if you use a program or website to sell notes there are no checks against posting notes.  So core didn't have to do anything different to keep posting his processing notes.

Is this simple incompetence or a nod toward those with third party tools being the way of the future?

Incompetence bordering on facilitation of insider trading...
A little nonsense now and then is relished by the wisest men.

Bohb Daishi

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Re: Member claims of unusual abilities with LendingClub
« Reply #40 on: November 13, 2013, 02:24:02 AM »
Core did reveal his mighty secret in PM's, and that secret can hold no longer.  Lending club's restrictions are entirely on the front-end client GUI side, so if you use a program or website to sell notes there are no checks against posting notes.  So core didn't have to do anything different to keep posting his processing notes.

Is this simple incompetence or a nod toward those with third party tools being the way of the future?

Incompetence bordering on facilitation of insider trading...

I don't view this as incompetence. I view it as having a lack of resources because the company is growing so fast. It lends credibility to my theory that this is just a "quick fix", giving them time to correct the true problem in the back-end system. I doubt that the 4-day period (as it currently stands) will be there for more than a few months.
There are three ways to make a living in this business: be first, be smarter, or cheat.

nonattender

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Re: Member claims of unusual abilities with LendingClub
« Reply #41 on: November 13, 2013, 07:56:58 AM »
If API users, alone, are able to act on information which materially impacts the value of a note, that's a two-tiered system, as you've
already noted - and that spells trouble.  Someone's already dropped a dime to cause the change; I think more than one are in a roll.
A little nonsense now and then is relished by the wisest men.

core

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Re: Member claims of unusual abilities with LendingClub
« Reply #42 on: November 13, 2013, 08:18:38 AM »
If API users, alone, are able to act on information which materially impacts the value of a note, that's a two-tiered system, as you've already noted - and that spells trouble.

Minor clarification -- IR (and all other third party tools) do not use the API to sell notes because no API exists for this functionality.  Even for investing in new originations, since API access is required to be enabled on a per-account basis, the API isn't even usually used for things that it can be used for.

Joleran

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Re: Member claims of unusual abilities with LendingClub
« Reply #43 on: November 13, 2013, 09:00:47 AM »
It's important to clarify there are in fact two APIs - the official lending club one that has to be activated, and the API exposed via the website and that can be interfaced with by anyone.  My understanding is that either can be used to post processing notes.

Joleran

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Re: Member claims of unusual abilities with LendingClub
« Reply #44 on: November 17, 2013, 05:58:07 PM »
So I finally got around to selling some processing notes that shouldn't really be processing (LC's incompetence at handing payment plans), and I got some unusual results, where the notes show up as being sold but without names and I am unable to find my notes by browsing for them.  Is my code screwing this up somehow, did they hotfix this, or what?

Edit: it was my code, nevermind.  Programmers and people willing to use third party apps are still preferred customers.

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« Last Edit: November 17, 2013, 06:02:03 PM by Joleran »