Author Topic: Loan Information Asymmetrical Timing  (Read 78615 times)

MarinBB

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Re: Loan Information Asymmetrical Timing
« Reply #165 on: September 15, 2014, 10:18:29 AM »
I'm getting killed. Couldn't buy one loan in days via the API.

Agreed, I added the API as a source of new listing information, but it's consistently getting beat by the website and the file.

Bryce, do you have any more info on the new REST API that is in development?

rawraw

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Re: Loan Information Asymmetrical Timing
« Reply #166 on: September 15, 2014, 12:10:36 PM »
Bryce, do you have any more info on the new REST API that is in development?
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Joleran

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Re: Loan Information Asymmetrical Timing
« Reply #167 on: September 16, 2014, 11:59:08 PM »
The obvious problem is that as soon as the asymmetry goes away, manual buyers suddenly get fucked as hard as the API buyers are today, but worse and in reverse.  Today, a person frantically f5'ing the note listings can nab a good deal of high-desirability notes (that are funded in <5 seconds of listing) and filter through them at their leisure.  Tomorrow, this person will be 100ms behind a computer controlled program and will get nothing.

brycemason

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Re: Loan Information Asymmetrical Timing
« Reply #168 on: September 17, 2014, 11:45:49 AM »
I think it's faulty thinking that investors _want_ to interact with the website in the long run. It's so tedious to log in 4 times a day and mash your F5 button. I've had to interrupt my day countless times to respond to my LC alarm. There is a non-trivial group of people who want automation but not LC's own automation. Right now that ability is totally broken and I'm going to need to start making withdrawal as cash piles up.

GS

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Re: Loan Information Asymmetrical Timing
« Reply #169 on: September 17, 2014, 10:01:32 PM »
Are we sure it's manual investors that are snatching up the new loans in 5 seconds, or could it be LC's Auto Investment users have an edge over everyone?

Randawl

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Re: Loan Information Asymmetrical Timing
« Reply #170 on: September 17, 2014, 10:30:01 PM »
Are we sure it's manual investors that are snatching up the new loans in 5 seconds, or could it be LC's Auto Investment users have an edge over everyone?

I can attest that this is not the case.  At least it is not the case for one particular account that has had it on since it allowed using of LC's (albeit lacking) filters.


Remember when saying manual investors that it also includes institutions that are manually investing as well.  Not sure if that distinction matters, just thought I might point it out.

brycemason

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Re: Loan Information Asymmetrical Timing
« Reply #171 on: September 18, 2014, 12:40:13 AM »
Certainly some of the loans I would buy are gone by the time the API sees them (they are 95% full according to the API download and by the time my order goes in it misses) or occasionally the API doesn't even see a particularly good one. Recent testing shows this isn't overwhelmingly the case.

Other reasons for the lower volume is that nothing is meeting my expectations (perhaps LC is setting rates closer to what my model suggests) or the overall type of loan (read quality according to my expectations) isn't available right now.

Lovinglifestyle

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Re: Loan Information Asymmetrical Timing
« Reply #172 on: September 18, 2014, 01:30:28 PM »

Other reasons for the lower volume is that nothing is meeting my expectations (perhaps LC is setting rates closer to what my model suggests) or the overall type of loan (read quality according to my expectations) isn't available right now.

Both of these reasons seem accurate to me.  My expectations are no longer being met by the LC rate settings, and what I am looking for is rarely available at any grade.  I've been getting the impression that the higher risk grades really are a higher risk now, as they fairly should be, imo.  I'm working on an attitude adjustment!

PeerSocialLending

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Re: Loan Information Asymmetrical Timing
« Reply #173 on: September 23, 2014, 06:22:43 PM »
For what it's worth I was able to invest in 57 notes (p2p picks top 25% CDE) between 2 release times today. I was a bit surprised to see them this high, but perhaps others are using top 10%?
-Ryan
p2p lending blogger @ www.peersociallending.com

Kombinator

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Re: Loan Information Asymmetrical Timing
« Reply #174 on: September 24, 2014, 09:28:54 AM »
Without a doubt it has gotten a lot better last week or so, hopefully this will continue at least till the IPO:)

Lovinglifestyle

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Re: Loan Information Asymmetrical Timing
« Reply #175 on: September 24, 2014, 10:32:07 AM »
If they aren't going to give back the not issued note money soon the inventory will grow even faster.  This is the first time I've been out of investment money (intentionally), so this is a new complaint for me.  I have $5, 275 of "Committed Cash", which I think is a personal record. 

BruiserB

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Loan Information Asymmetrical Timing
« Reply #176 on: September 24, 2014, 12:24:21 PM »
Lending Club's results happen when notes are issued, not when our cash is committed.

If people are seeing committed cash build up, then I would take that as a sign that LC has already issued their targeted amount of loans for the quarter and they are holding back issuances to give next quarter a jump start. 

If loans issuances continue normally and committed cash holds steady or drops through the end of the month, then I would see that as a sign that LC is having trouble meeting their numbers and wants to capture as much business in the quarter as possible.

Last quarter the slowdown in issuances started around the 24th of the month.


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BruiserB

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Loan Information Asymmetrical Timing
« Reply #177 on: September 27, 2014, 11:14:21 PM »
There's a post in the Lending Club borrower's forum where a borrower states they were fully funded and approved on 9/25 but told they will get their funds on 10/2. More evidence that LC is holding business till next quarter...they must have this quarter's numbers in the bag already.


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Joleran

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Re: Loan Information Asymmetrical Timing
« Reply #178 on: September 28, 2014, 06:28:56 PM »
There's a post in the Lending Club borrower's forum where a borrower states they were fully funded and approved on 9/25 but told they will get their funds on 10/2. More evidence that LC is holding business till next quarter...they must have this quarter's numbers in the bag already.

It will be interesting after the IPO if this behavior will continue - fresh issues throughout the last few days of a quarter could be a strong sell signal.

hoggy1

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Re: Loan Information Asymmetrical Timing
« Reply #179 on: September 28, 2014, 09:32:23 PM »
I think we have wondered off topic here.
Steve