Author Topic: LC - end of Quarter effect  (Read 19461 times)

bobeubanks

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Re: LC - end of Quarter effect
« Reply #30 on: January 06, 2015, 07:25:20 PM »
EDIT: One thing I'm suggesting is that we shouldn't assume it's a conspiracy to bolster LC's business interests.

A business doing something to bolster their own interests should always be one of the usual suspects.

BruiserB

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LC - end of Quarter effect
« Reply #31 on: January 06, 2015, 07:26:34 PM »

EDIT: One thing I'm suggesting is that we shouldn't assume it's a conspiracy to bolster LC's business interests.

I'd be happy to entertain a different theory, but I do know that this sort of behavior would happen in the last couple days of a month when LC used to report their results monthly. As soon as they went to only reporting results quarterly, it began happening at the end of every third month....coincidentally the last month of each quarter. And it's getting worse each quarter. As mentioned it was almost all of December.  (Which I believe is also end of Fiscal Year)

And they aren't slowing down processing loans.  Applicants are still getting screened and those that don't meet requirements are getting kicked out.  The loans that stack up in "not yet issued" are all loans that will be approved.  They are just held to the next quarter for issuance.  If it was a lack of resources, then many of the loans would be rejected and the funds returned once the resources became available.

So what's a different possible theory to explain this?


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BruiserB

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Re: LC - end of Quarter effect
« Reply #32 on: January 06, 2015, 07:36:05 PM »
Notes are finally starting to issue for this quarter!  I had almost 10% of my account value tied up in "not yet issued" notes through the Holidays. ...

 I don't want them to get sued, but I do want them to change their end of quarter practice and issue loans as quickly as possible.  And I want that both as a investor in notes and as a shareholder in the company.

Tell them so!

I guess I should reply to this email I received at 9:15PM (California Time) on Sunday Night:


Quote
Subject: Plans for 2015

Hi "BruiserB",

I wanted to touch base and make sure your accounts with us are continuing to meet your expectations.  Do you have any specific plans (additions, withdrawals etc) for the accounts as we begin the new year?

-Xxxx


Xxxx Xxxxxxx | Investor Executive

rawraw

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Re: LC - end of Quarter effect
« Reply #33 on: January 06, 2015, 07:40:04 PM »
Man, I hope I am part of the 1% with those kind of emails one day :)

BruiserB

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Re: LC - end of Quarter effect
« Reply #34 on: January 06, 2015, 08:21:13 PM »
Man, I hope I am part of the 1% with those kind of emails one day :)

LOL....I was just as surprised to receive the note.  I feel like small potatoes compared to many here.

lascott

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Re: LC - end of Quarter effect
« Reply #35 on: March 23, 2016, 10:57:06 AM »
Can anyone tell we are at the end of a quarter again <grin>. I monitor my portfolio page ( https://www.lendingclub.com/account/portfolios.action ) almost daily and compare note counts and "Expected Monthly Payments" (EMP) to the previous days.  EMP has stalled (notes being issued) in the past couple days.
« Last Edit: March 23, 2016, 11:51:06 AM by lascott »
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dompazz

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Re: LC - end of Quarter effect
« Reply #36 on: March 23, 2016, 11:08:16 AM »
I show 7 notes in the 9am drop this morning and about 20-40 per drop yesterday (last one had 99 though).  Down from the ~120 per drop of the past few weeks.  Ouch.

MarinBB

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Re: LC - end of Quarter effect
« Reply #37 on: March 23, 2016, 01:30:47 PM »
I'm seeing the same low count of new listings on the website along with some massive API latencies. This is unusual. The API used to take 100s of milliseconds to return around posting periods but now takes 2-5 seconds. Has anyone else observed the same slowness?


dompazz

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Re: LC - end of Quarter effect
« Reply #38 on: March 23, 2016, 02:06:33 PM »
I'm seeing the same low count of new listings on the website along with some massive API latencies. This is unusual. The API used to take 100s of milliseconds to return around posting periods but now takes 2-5 seconds. Has anyone else observed the same slowness?
I've seen long latencies with my 2 pulls today.  Not enough to say if it is a trend.

Fred93

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Re: LC - end of Quarter effect
« Reply #39 on: March 23, 2016, 03:25:58 PM »
...along with some massive API latencies. This is unusual. The API used to take 100s of milliseconds to return around posting periods but now takes 2-5 seconds. Has anyone else observed the same slowness?

Yes, I've been seeing the same thing.  Its always been highly variable, but lately there have been some long ones in my log.  One was over 10 seconds recently to get the new loans at feeding time.  Glad its not just me.  Thanks for mentioning this.  As long as everybody's in the same boat, I'm happy.

MarinBB

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Re: LC - end of Quarter effect
« Reply #40 on: March 23, 2016, 05:15:19 PM »
Quote
One was over 10 seconds recently to get the new loans at feeding time.

Phew, glad i'm not the only one. I was mildly worried that I broke something.

Rob L

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Re: LC - end of Quarter effect
« Reply #41 on: March 23, 2016, 05:54:35 PM »
I've seen all of the above. End of the quarter and LC has met their quota; "managed growth".
Thus has it been for a while now.

I have noticed something new that perhaps others might be able to confirm or refute.
Until quite recently (January some time?) LC always merged newly released loans with previously released loans not yet fully funded.
The merged loans were released at feeding times.

It now appears LC includes only new loans in the feeding time releases.
All previously released loans are removed (presumably funded by sources other than retail investors).
Anyone else see same?

AnilG

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Re: LC - end of Quarter effect
« Reply #42 on: March 23, 2016, 06:37:20 PM »
It doesn't seem likely considering currently 500+ loans are available for funding and last release only had 25 new loans.

I've seen all of the above. End of the quarter and LC has met their quota; "managed growth".
Thus has it been for a while now.

I have noticed something new that perhaps others might be able to confirm or refute.
Until quite recently (January some time?) LC always merged newly released loans with previously released loans not yet fully funded.
The merged loans were released at feeding times.

It now appears LC includes only new loans in the feeding time releases.
All previously released loans are removed (presumably funded by sources other than retail investors).
Anyone else see same?
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Rob L

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Re: LC - end of Quarter effect
« Reply #43 on: March 23, 2016, 07:03:12 PM »
It doesn't seem likely considering currently 500+ loans are available for funding and last release only had 25 new loans.

I looked at the last drop drop. 673 loans, all same listing_date 3-23-2016 14:00:0000.
I have not checked loan id's for uniqueness. I'm sure I must be doing something simple and wrong, but this is what I see.
Any ideas? TIA.

This just off the press: Took another look at the last drop.
Only 3 "new" fractional loans. All others were originated as "whole loans" first.
I never look at loans listed as whole loans first then moved to fractional. Figure if the pro's don't want them neither will I.
« Last Edit: March 23, 2016, 07:32:58 PM by Rob L »

dompazz

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Re: LC - end of Quarter effect
« Reply #44 on: March 23, 2016, 07:38:22 PM »
It doesn't seem likely considering currently 500+ loans are available for funding and last release only had 25 new loans.

I looked at the last drop drop. 673 loans, all same listing_date 3-23-2016 14:00:0000.
I have not checked loan id's for uniqueness. I'm sure I must be doing something simple and wrong, but this is what I see.
Any ideas? TIA.
Are you specifying showAll=true on "https://api.lendingclub.com/api/investor/v1/loans/listing?"?  I have it set to false and only saw 21 new loans listed (took 18 flippin seconds too!).

Quote
23MAR16:17:00:22.458 - Read 21 from LC. showAll=false
23MAR16:17:00:22.458 - Through Getting Loans TOOK: 18.4509999752044

Just ran a pull with showAll=true and got 515 loans (in 1.7 seconds).  I see 45 distinct listing date values.

Code: [Select]
select count(distinct listing_date) from new_loans;

select listing_date,
          count(*)
   from new_loans
   group by listing_date
   order by listing_date;

Or as I have been told multiple times, "It's not me, it's you."   ;)