Author Topic: Any New Loans Lately?  (Read 15767 times)

avid investor

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Re: Any New Loans Lately?
« Reply #30 on: November 30, 2014, 04:25:59 PM »
I've noticed a distinct lack of inventory lately as well. I'm not a programmer and usually pick notes manually. I log on at random times, whenever I am at my computer at home and have some time. There has been nothing for about 10 days of so now. I also switched on automatic investing and even that has gotten me nothing for the past 5 days or so.
Well Sean, I am a developer, and even though my automated process is checking the inventory a lot more frequently now, I am finding few loans and getting even fewer.  The percentage of sold out loans (fully funded in the 2 seconds between retrieving all loans, filtering the ones I want, and trying to fund them) has gone up sharply.  More people (developers or not) with more sideline cash + fewer notes = more sold out loans when you try to fund one.  Pretty frustrating.

investforfreedom

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Re: Any New Loans Lately?
« Reply #31 on: November 30, 2014, 07:52:59 PM »
It happens to Prosper as well.  Not only are there fewer loans for both platforms but also the quality of the higher risk loans has deteriorated--especially for Prosper.  It is common to see loan listings with 2 public records and 40-50% debt-to-income ratios on Prosper. 

It's probably seasonal, but it is also likely that lending growth has reached a plateau for now.  My returns for the two platforms have also been declining, with my LC account doing better than my Prosper account, 12%+ v. 10%+.  I am still doing this manually, but at some point, it will no longer be worth the time and effort, especially with some of my best stock funds cranking out 12% on average for the past 10 years.



« Last Edit: November 30, 2014, 07:56:29 PM by investforfreedom »

Half Right

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Re: Any New Loans Lately?
« Reply #32 on: December 01, 2014, 10:52:50 AM »

Kombinator

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Re: Any New Loans Lately?
« Reply #33 on: December 01, 2014, 10:59:18 AM »
Tha bank buys most likely whole loans only.

There has been a meaningful decline in total loan volume available (50-100 per feeding now vs normal amounts of 200-400) and the amount of decent loans available as well.

The likely explanation is a combination of seasonal doldrums, as well as LC focusing heavily on IPO and providing a pop after by artficially restricting volume before.

lascott

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Re: Any New Loans Lately?
« Reply #34 on: December 01, 2014, 05:14:26 PM »
Someone was hungry.

Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

Fred

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Re: Any New Loans Lately?
« Reply #35 on: December 02, 2014, 12:53:14 AM »
http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html

This might explain part of the problem and the shortage

Thanks for the article.

Quote
Four times daily, Titan’s software pings servers at LendingClub Corp., vying alongside other investors to get a first look as hundreds of online loan applications are posted.

Somehow the statement makes me feel good -- a one-person fund is competing for the same things with a 107-year old bank, 4 times a day.

Fred93

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Re: Any New Loans Lately?
« Reply #36 on: December 02, 2014, 01:53:03 AM »
Peercube has new loan availability charts.  Cool.  Shows how the new loans have really gone down in the past few weeks.  (Consistent with LC folks statements about seasonal slowness.)

https://www.peercube.com/histperf/available_loans/lc

lascott

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Re: Any New Loans Lately?
« Reply #37 on: December 02, 2014, 10:20:10 AM »
Peercube has new loan availability charts.  Cool.  Shows how the new loans have really gone down in the past few weeks.  (Consistent with LC folks statements about seasonal slowness.)
https://www.peercube.com/histperf/available_loans/lc
Very cool (chart not loan count!).

Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

MarinBB

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Re: Any New Loans Lately?
« Reply #38 on: December 03, 2014, 01:26:38 PM »
It looks like LC made a change to the API. For the two posting rounds so far today, the API reflected the new batch of listings within 1 second of the expected posting time. The listings initially showed up with $0 funded so far.

If this persists change, it will have closed the gap between the API and the website.


Kombinator

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Re: Any New Loans Lately?
« Reply #39 on: December 03, 2014, 02:12:34 PM »
The loan situation has gotten demonstrably better last couple of days, so good to see they are stepping up on getting the technology to work.

brycemason

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Re: Any New Loans Lately?
« Reply #40 on: December 04, 2014, 12:02:49 AM »
http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html


This might explain part of the problem and the shortage

Hardly a problem. These guys are all in the whole loan market. I enjoyed the article, but I can assure you that that is a stock photo of a server.
« Last Edit: December 04, 2014, 12:06:22 AM by brycemason »

lascott

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Re: Any New Loans Lately?
« Reply #41 on: December 04, 2014, 12:23:00 AM »
http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html
This might explain part of the problem and the shortage
Hardly a problem. These guys are all in the whole loan market. I enjoyed the article, but I can assure you that that is a stock photo of a server.
The server picture occurs in several articles <grin>
Tools I use: (main) BlueVestment: https://www.bluevestment.com/app/pricing + https://www.interestradar.com/ , (others) Lending Robot referral link: https://www.lendingrobot.com/ref/scott473/  & Peercube referral code: DFVA9Y

gottodo1

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Re: Any New Loans Lately?
« Reply #42 on: December 04, 2014, 06:33:03 PM »
http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html


This might explain part of the problem and the shortage

" Soon after it buys a loan, employees seek to validate information borrowers provided, asking questions like: “If the person’s a janitor, do we think they’re actually making $200,000?” So far, that’s been enough.

“We’ve just never had an issue,” Morris said. “The paper has been very clean.”"

I've seen random jobs listed as pulling in 45k/year... Ya they either are doing random sampling or the 2 IT guys aren't sober when looking through the loans.

Fred

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Re: Any New Loans Lately?
« Reply #43 on: December 05, 2014, 12:06:26 AM »
http://www.bloomberg.com/news/2014-12-01/loans-made-in-blink-as-banks-funds-vie-for-lendingclub-clients.html

This might explain part of the problem and the shortage

Hardly a problem. These guys are all in the whole loan market....

Bryce,  I didn't realize it was you behind Titan until I read your LinkedIn comments today.

Kudos.