Author Topic: So Many Loans!  (Read 28187 times)

Lovinglifestyle

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Re: So Many Loans!
« Reply #45 on: April 27, 2014, 03:51:16 PM »
See attachment. Have fun!

[AnilG or anybody]  I am requesting a csv which shows the counts at feeding times for the past 2 months.

Wish I could see it!  Unfortunately, I can't figure out how to get anything but a blank "untitled" page.  :'(

AnilG

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Re: So Many Loans!
« Reply #46 on: April 27, 2014, 04:36:38 PM »
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

Lovinglifestyle

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Re: So Many Loans!
« Reply #47 on: April 27, 2014, 07:21:23 PM »
Try these links:

https://dl.dropboxusercontent.com/u/39045255/serviceupdate.txt
https://dl.dropboxusercontent.com/u/39045255/serviceupdate.csv

See attachment. Have fun!

Wish I could see it!  Unfortunately, I can't figure out how to get anything but a blank "untitled" page.  :'(

Both work fine, thank you!  The first one, .txt, has an edge because it includes the "update_time...etc." line at the top whereas the .csv does not.

Thank you for being so awesome--and your work too!  ;D 
The numbers are fascinating!

Rob L

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Re: So Many Loans!
« Reply #48 on: April 28, 2014, 09:11:30 AM »
Only 35 loans added to the platform in the first release today.

cnmor54

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Re: So Many Loans!
« Reply #49 on: April 28, 2014, 10:29:32 AM »
And once you have picked up a few crumbs, they just sit in review. I have 290 notes in review and not a single one issued yet today  :'(

Lovinglifestyle

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Re: So Many Loans!
« Reply #50 on: April 28, 2014, 10:34:56 AM »
12/19 from one order on the 20th (8 days ago) have not been issued nor removed, although 100% funded on the 20th.

Out of 124 "in funding" (not), only orders from 3 weeks ago have been completed.

Randawl

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Re: So Many Loans!
« Reply #51 on: April 28, 2014, 09:16:21 PM »

How else is LC going to get a jump on hitting that new target come Thursday.?

GS

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Re: So Many Loans!
« Reply #52 on: April 29, 2014, 08:12:28 AM »
Randawl is right.  For the last 8-10 days of each month, it's apparent to me LC holds nearly all the notes in review, then issues the majority of them on the 1st-3rd.  It seems like they are manipulating the issuance numbers to show steady growth. 

Rob L

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Re: So Many Loans!
« Reply #53 on: April 29, 2014, 06:50:16 PM »
I'm looking forward to May 1; things are completely dead now.
I want to move more funds into LC but I'm not able to reinvest the even payments I'm receiving.

SeanMCA

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Re: So Many Loans!
« Reply #54 on: April 29, 2014, 09:05:54 PM »
The compounding factor is seriously hurt by how long free cash withers away in loans that may or may not ever happen. I reinvest the monthly earnings into new notes only to find out 2 weeks later that the loans didn't go through, so I put it in new notes, and then find out 2 weeks later that those didn't go through either. It seriously interrupts the whole flow. I am in the process of putting in another 10k and fear it's going to take forever to put it all to work.

What causes so many loans to be cancelled and why does it take so long for them to be issued after they're 100% funded?
« Last Edit: April 29, 2014, 09:50:07 PM by SeanMCA »
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Thatguybil

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Re: So Many Loans!
« Reply #55 on: April 29, 2014, 09:32:04 PM »
The compounding factor is seriously hurt by how long free cash withers away in loans that may or may not ever happen. I reinvest the monthly earnings into new notes only to find out 2 weeks later that the loans didn't go through, so I put it in new notes, and then find out 2 weeks later that those didn't go through either. It seriously interrupts the whole flow. I am in the process of putting in another 10k and fear it's going to take forever for to put it all to work.

What causes so many loans to be cancelled and why does it take so long for them to be issued after they're 100% funded?

This dead money is a factor in decreasing real returns.

Bohb Daishi

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Re: So Many Loans!
« Reply #56 on: April 30, 2014, 02:08:35 AM »
Randawl is right.  For the last 8-10 days of each month, it's apparent to me LC holds nearly all the notes in review, then issues the majority of them on the 1st-3rd.  It seems like they are manipulating the issuance numbers to show steady growth.

This could be partially explained by borrowers wanting their due date to occur on/after the 1st of the month, when they get paid.
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core

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Re: So Many Loans!
« Reply #57 on: April 30, 2014, 02:32:48 AM »
This could be partially explained by borrowers wanting their due date to occur on/after the 1st of the month, when they get paid.

Lending Club has been quite obviously playing these accounting games for quite some time, but yet it wasn't always this way.  Only when it looked like the growth numbers were going to matter did this start. 

Then there was a lender+borrower not too long ago that posted here that he was not once asked when he wanted his due date to be.  They apparently do not give you a choice on the front end, but sure I suppose if you were whiny enough you could get something arranged.  How many are going to do that?   Also put yourself in the position of one of these desperate borrowers:  You can get your $30k right now and buy your sheep farm right away, or you can just let LC hold onto it for a week and a half, and maybe LC will change their mind in that time (see stories on other sites).  How many are going to pick door #2?  Not many.

LC intentionally stalls the loans and they've never denied it as far as I know.

Rob L

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Re: So Many Loans!
« Reply #58 on: May 02, 2014, 09:59:34 AM »
May 1st has come and gone. Still there's a dearth of new loan availability.
Maybe LC's growth management has transitioned to quarterly and the first of each month is no longer meaningful.
From that perspective we're simply in mid-quarter. Plenty of time left to target the end quarterly end point. It did start with a bang!

daniel2023

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Re: So Many Loans!
« Reply #59 on: May 05, 2014, 12:39:20 PM »
Yeah, this is disappointing.  I've been doing LC for 5+ years and this is the 2nd sucky crunch I've witnessed.  Last month, I decided to jump into the 5-yr notes, and there were plenty to choose from at all rates.  Looks like these are getting eaten up, too.  Not following the drop times, I haven't seen anything above 17% for the last few days.

Things better improve soon.  I also seem to have quite a few late/grace notes all of the sudden.  So If things don't improve in the next 30 days, I may be going back to mutual funds.