Author Topic: Call from Lending Club  (Read 5532 times)

Randawl

  • Sr. Member
  • ****
  • Posts: 469
    • View Profile
Call from Lending Club
« on: June 10, 2014, 04:03:36 PM »
Got a random phone call from Lending Club today.  He asked me if LC was meeting my expectations and asked if everything was going well with my account.  He also asked about my API use and whether I used any third party tools.  I heard him typing my responses and he also asked if those third party tools were able to make folio transactions. 

I hadn't spoken with anyone from LC since they called me about API access a long time ago.  I presume this is part of a standard maintain/improve investor relations type of effort. 
Have any of you received similar phone calls recently?  He also made sure to mention that "if you were thinking of adding more funds to the platform, more loans have been recently made available to retail investors such as yourself."  Not too sure how those f/w percentages have actually changed lately, though, if at all.

thezfunk

  • Sr. Member
  • ****
  • Posts: 316
    • View Profile
Re: Call from Lending Club
« Reply #1 on: June 10, 2014, 04:23:54 PM »
I have not had phone calls, as far as I know.  I don't answer numbers I don't recognize.  I have had email surveys.  I even took the time to fill them out.  I noticed the question about adding funds as well.  I bet they are trying to figure out whether to dump consumer loan inventory onto the whole loan market.  It would seem, from what they have publicly said, that they want loans quickly filled.  I wonder if they fear fractional loans sitting on the platform too long or they actually are sitting on the platform too long?

rawraw

  • Hero Member
  • *****
  • Posts: 2767
    • View Profile
Re: Call from Lending Club
« Reply #2 on: June 10, 2014, 04:27:34 PM »
I bet my account isn't large enough for this type of phone call

GS

  • Sr. Member
  • ****
  • Posts: 413
    • View Profile
Re: Call from Lending Club
« Reply #3 on: June 10, 2014, 04:34:47 PM »
When I called to ask for API access they asked me if I was using a third party tool or going to write my own, when I told them third party, they asked which ones...

They seem to be interested in monitoring which ones are popular.

New Jersey Guy

  • Hero Member
  • *****
  • Posts: 914
  • Hell Yea it's a Hemi!
    • View Profile
    • Email
Re: Call from Lending Club
« Reply #4 on: June 11, 2014, 10:26:42 AM »
Quote
I bet my account isn't large enough for this type of phone call

LOL!  Same here!  They'd lose money in the long distance charges.
Return over deposits:   66.82%
IRR:   86.54%
As of April 30, 2014

mindbowels

  • Newbie
  • *
  • Posts: 21
    • View Profile
Re: Call from Lending Club
« Reply #5 on: June 11, 2014, 10:47:56 PM »
I also got a call last week.  Nothing too specific just how are you enjoying it, are you considering any more, how are you investing, etc.  They were pushing their automated investments over 3rd party solutions (not surprising).

Overall, definitely wasn't a sales call and was nice that they at least seem to care enough to reach out to their retail investors.

Lovinglifestyle

  • Hero Member
  • *****
  • Posts: 899
    • View Profile
    • Email
Re: Call from Lending Club
« Reply #6 on: June 12, 2014, 09:45:19 AM »
What does the caller ID look like when they call?

Randawl

  • Sr. Member
  • ****
  • Posts: 469
    • View Profile
Re: Call from Lending Club
« Reply #7 on: June 12, 2014, 03:01:12 PM »
What does the caller ID look like when they call?

The number that called me showed up as:  415-632-5614   from San Francisco, CA

At little old-fashioned Googling showed:

1 Results found for (415) 632-5614

James L Cassa

Age 67

Address

840 Alice Ave
San Leandro, CA 94577
http://www.advancedbackgroundchecks.com/phone/4156325614


A little odd?  Perhaps it was a former owner of that number?  Would be a little strange if LC had people using their personal phones. . .   ;)

Lovinglifestyle

  • Hero Member
  • *****
  • Posts: 899
    • View Profile
    • Email
Re: Call from Lending Club
« Reply #8 on: June 12, 2014, 08:58:24 PM »
That's very interesting.  Thank you!  I don't answer unknown callers, so I wondered about that.

neals384

  • Full Member
  • ***
  • Posts: 107
    • View Profile
Re: Call from Lending Club
« Reply #9 on: June 14, 2014, 12:01:02 PM »
Poor James, still working at 67.  He musta been a Prosper 1.0 investor.

JDowding

  • Newbie
  • *
  • Posts: 35
    • View Profile
    • Email
Re: Call from Lending Club
« Reply #10 on: June 18, 2014, 06:30:46 PM »
I've been in Lending Club for about 2 years, and gotten calls frequently, maybe 1-2 a year.    I feel it is fine that they call, once in a while he has something new to tell me, usually just making sure I am still happy (I am).


rawraw

  • Hero Member
  • *****
  • Posts: 2767
    • View Profile
Re: Call from Lending Club
« Reply #11 on: June 18, 2014, 09:32:35 PM »
I've been in Lending Club for about 2 years, and gotten calls frequently, maybe 1-2 a year.    I feel it is fine that they call, once in a while he has something new to tell me, usually just making sure I am still happy (I am).
#OnePercenter

RT45

  • Jr. Member
  • **
  • Posts: 93
    • View Profile
Re: Call from Lending Club
« Reply #12 on: June 18, 2014, 10:21:30 PM »
Did the person identify what department they were in? Depends if it was retirement, institutional, general IR, technology etc.

The specific question regarding the API is odd, especially in context with Folio. I feel like Lending Club is monitoring API users very closely right now with added scrutiny with the upcoming IPO and moving auto investing in house. Hard to tell which one or both. Also let's not forget...

1) LC slows down frequency and amount of data being distributed.
2) Brings auto investing in house
3) Starts to make it more difficult on 3rd parties to connect with data
4) Adds additional disclosures on FolioFN
5) Calls individual investors asking about their API access and which 3rd party tools they use.

Curious to get core's take on this.