Author Topic: 25+% triggers?  (Read 11991 times)

hoggy1

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25+% triggers?
« on: December 18, 2014, 05:58:18 PM »
This loan looks pretty good to me.
https://www.lendingclub.com/browse/loanDetail.action?loan_id=38098325

His revolving bal is a bit high and he has 7 mortgage accounts so he's dabling in RE but nothing strikes me that would cause someone with this much income to be charged 25% or for him to be willing to pay it.

It seems there is something in LCs underwriting process that triggers this risk assessment that can't be discerned from the data reported. Or is this the guy who will pay for 3 months and then be offered a new lower rate loan from LC screwing investors while collecting a second set of origination fees from him?
Steve

Lovinglifestyle

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Re: 25+% triggers?
« Reply #1 on: December 18, 2014, 06:40:36 PM »
503K owed/ 573K limit with 7 mortgages sounds like a complicated life to me, with 2 yrs. in this job.  I passed because it made me think of bankruptcy.  That, and New Jersey with its weather related maintenance expenses could cause a grace payment and then I'd be selling the note at a discount.  Hope it works out fine for you!

brec

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Re: 25+% triggers?
« Reply #2 on: December 18, 2014, 08:52:43 PM »
503K owed/ 573K limit with 7 mortgages sounds like a complicated life to me, with 2 yrs. in this job.  I passed because it made me think of bankruptcy.  That, and New Jersey with its weather related maintenance expenses could cause a grace payment and then I'd be selling the note at a discount.  Hope it works out fine for you!
Where are you seeing the 503K 573K and 7 mortgages numbers? I don't see them at hoggy1's linked page, i.e., at
https://www.lendingclub.com/browse/loanDetail.action?loan_id=38098325

Lovinglifestyle

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Re: 25+% triggers?
« Reply #3 on: December 18, 2014, 09:15:02 PM »
I see it on PeerCube, from my filter page for all EFG loans.

brec

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Re: 25+% triggers?
« Reply #4 on: December 18, 2014, 09:23:46 PM »
I see it on PeerCube, from my filter page for all EFG loans.
(Newbie still in state of maximum confusion...) Doesn't  PeerCube get its info from LC? Where could I have seen the info on LC? I'm thinking that something like "7 mortgages" would have to be in a free-form text field somewhere.

Fred

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Re: 25+% triggers?
« Reply #5 on: December 19, 2014, 12:46:26 AM »
Doesn't  PeerCube get its info from LC? Where could I have seen the info on LC? I'm thinking that something like "7 mortgages" would have to be in a free-form text field somewhere.

PeerCube and others usually download the expanded version of loan data from this LC link:
https://resources.lendingclub.com/secure/primaryMarketNotes/browseNotes_1-RETAIL.csv

rawraw

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Re: 25+% triggers?
« Reply #6 on: December 19, 2014, 07:45:20 AM »
I see it on PeerCube, from my filter page for all EFG loans.
(Newbie still in state of maximum confusion...) Doesn't  PeerCube get its info from LC? Where could I have seen the info on LC? I'm thinking that something like "7 mortgages" would have to be in a free-form text field somewhere.
Not all credit variables are displayed.  You have to go to the data download for the full list

brec

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Re: 25+% triggers?
« Reply #7 on: December 19, 2014, 09:19:31 AM »
[Not all credit variables are displayed.  You have to go to the data download for the full list

Ah, not in a free-form text field:
mortAcc    integer    ...    Number of mortgage accounts.

Thanks!

Fred93

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Re: 25+% triggers?
« Reply #8 on: December 19, 2014, 09:41:47 AM »
By the way mortAcc or mort_acc (as it is known in different places) is one of the fields on the list to be removed "as early as December 10, 2014".

Lovinglifestyle

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Re: 25+% triggers?
« Reply #9 on: December 19, 2014, 02:27:30 PM »
By the way mortAcc or mort_acc (as it is known in different places) is one of the fields on the list to be removed "as early as December 10, 2014".

Oh cheers.  Do you know anything about the "Total Current Debt" field's fate?  PeerCube's number is different from Interest Radar's "Current Balance (Excluding Mortgage) number.

Fred93

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Re: 25+% triggers?
« Reply #10 on: December 19, 2014, 06:04:43 PM »
By the way mortAcc or mort_acc (as it is known in different places) is one of the fields on the list to be removed "as early as December 10, 2014".

Oh cheers.  Do you know anything about the "Total Current Debt" field's fate?  PeerCube's number is different from Interest Radar's "Current Balance (Excluding Mortgage) number.

None of us really "know" anything about what LC is doing.  I believe the two numbers you describe may simply be different fields.  Because they are different fields, one would expect that they would contain different numbers.  There's a field named totCurBal and another named totalBalExMort.  As for what exactly either of these means, I can direct you to LC's data dictionary and API documentation, on their web site.  We all read, scratch our heads, and interpolate.  You are welcome to do same.  ::)

Regarding fields going away, LC posted a notice on their web site in early November.  It doesn't seem to be there any more  :o  .  They did NOT update the API documentation, even tho the change is supposedly imminent.  Many of us have stopped using the fields on this list, modified our software etc...

Here's the LC note...
Quote
We are standardizing data fields to be consistent across the Lending Club platform. As a result, some date and credit attribute fields that are not available in certain sections of the site, such as the filters on the Browse Note page, will be removed from other areas of the site.
 
Removed Date Fields:
accept_d
exp_d
list_d
 
Removed Credit Attribute Fields:
acc_now_delinq
acc_open_past_24mths
bc_open_to_buy
percent_bc_gt_75
bc_util
delinq_amnt
mths_since_recent_inq
mths_since_recent_revol_delinq
mths_since_recent_bc
mort_acc
total_bal_ex_mort
total_bc_limit
total_il_high_credit_limit
num_rev_accts
mths_since_recent_bc_dlq
pub_rec_bankruptcies
num_accts_ever_120_pd
chargeoff_within_12_mths
tax_liens
num_sats
num_tl_op_past_12m
mo_sin_rcnt_tl
tot_hi_cred_lim             
tot_cur_bal
avg_cur_bal
num_bc_tl
num_actv_bc_tl
num_bc_sats
pct_tl_nvr_dlq
num_tl_90g_dpd_24m
num_tl_30dpd
num_tl_120dpd_2m
num_il_tl
mo_sin_old_il_acct
num_actv_rev_tl
mo_sin_old_rev_tl_op
mo_sin_rcnt_rev_tl_op
total_rev_hi_lim
num_rev_tl_bal_gt_0
num_op_rev_tl               
tot_coll_amt

Lovinglifestyle

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Re: 25+% triggers?
« Reply #11 on: December 19, 2014, 08:11:32 PM »
Thank you very much, Fred93.  I remember seeing that info.  I believe PeerCube changed their name of tot_cur_bal to Total Current Debt.  That is the field I've been hoping would not disappear, but I understand nearly everybody has updated already.  Am just guessing that PC uses the TCB for total debt, but maybe they come up with their total some other way.

I'm not very good at reading the .csv files.  Much too tedious to find the loan I want, so I rarely try.  Thank you for re-publishing the LC notice.

AnilG

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Re: 25+% triggers?
« Reply #12 on: December 19, 2014, 11:44:33 PM »
On PeerCube, tot_cur_bal is listed as "Total current balance of all accounts "and total_bal_ex_mort is listed as "Total Credit Balance Excl Mortgage."

Regarding the removal of fields, LC have already removed those fields from the historical file but the removal for listings available has been delayed till next year.

Thank you very much, Fred93.  I remember seeing that info.  I believe PeerCube changed their name of tot_cur_bal to Total Current Debt.  That is the field I've been hoping would not disappear, but I understand nearly everybody has updated already.  Am just guessing that PC uses the TCB for total debt, but maybe they come up with their total some other way.

I'm not very good at reading the .csv files.  Much too tedious to find the loan I want, so I rarely try.  Thank you for re-publishing the LC notice.
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com

Lovinglifestyle

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Re: 25+% triggers?
« Reply #13 on: December 20, 2014, 11:31:52 AM »
Thanks, Anil.  I was thinking of that field's use in the custom filter's Total Current Balance/Annual Income field that I love.  When it goes away I will stop looking for new notes and will instead buy from Folio or begin transferring money out.

Fred93

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Re: 25+% triggers?
« Reply #14 on: December 20, 2014, 06:53:38 PM »
Thanks, Anil.  I was thinking of that field's use in the custom filter's Total Current Balance/Annual Income field that I love.  When it goes away I will stop looking for new notes and will instead buy from Folio or begin transferring money out.

Perhaps revol_bal would work for you?