Author Topic: Wierd goings on at LC  (Read 21799 times)

jheizer

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Re: Wierd goings on at LC
« Reply #15 on: June 29, 2015, 01:05:26 PM »
Wow and now only 9 new ones.  I guess they hit their numbers and threw the car in park.
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BruiserB

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Re: Wierd goings on at LC
« Reply #16 on: June 29, 2015, 04:40:39 PM »
Wow and now only 9 new ones.  I guess they hit their numbers and threw the car in park.

This would be a new quarter end behavior.  Normally they keep placing notes on the platform for investors to buy, but they just hold up actually issuing the notes.  This is the first time I have seen them stop even offering notes.

Is someone able to tell if the whole note marketplace has dropped off to the same extent?  Or have they shifted the balance strongly to whole notes?  Maybe they are trying to allow institutions to "catch up" on the loans they missed last week since they all seemed to come to the fractional side?

Fred93

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Re: Wierd goings on at LC
« Reply #17 on: June 29, 2015, 04:43:23 PM »
After a few days of sending almost all loans to the fractional market, this morning they started sending almost all loans to the whole market. 

My guess: Whole loan buyers called them up and yelled, so they're tryin' to make it up to them.  Just a guess.

I predict normalcy starting Wednesday.

jheizer

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Re: Wierd goings on at LC
« Reply #18 on: June 29, 2015, 05:01:34 PM »
Looks to be that way.  Only 8 this time.  Oh well, last week sucked up all my available cash except for ones not issuing crediting back.
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Rob L

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Re: Wierd goings on at LC
« Reply #19 on: June 29, 2015, 05:46:24 PM »
I predict normalcy starting Wednesday.
Agreed; well, whatever serves for normalcy with LC anyway.

SeanMCA

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Re: Wierd goings on at LC
« Reply #20 on: June 29, 2015, 06:53:29 PM »
What is the point of inferring anything from quarterly reports if all the data is manipulated in the days leading up to quarter's end?
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rawraw

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Re: Wierd goings on at LC
« Reply #21 on: June 29, 2015, 06:56:38 PM »
What is the point of inferring anything from quarterly reports if all the data is manipulated in the days leading up to quarter's end?
A good analyst will be tracking this data themselves and not trusting LC reported numbers.  IIRC I read SS ER reports discussing this inventory management

lascott

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Re: Wierd goings on at LC
« Reply #22 on: June 29, 2015, 07:04:03 PM »
What is the point of inferring anything from quarterly reports if all the data is manipulated in the days leading up to quarter's end?
A good analyst will be tracking this data themselves and not trusting LC reported numbers.  IIRC I read SS ER reports discussing this inventory management
PeerCube has this data for all 12 weeks in the last quarter and for 12 months.  Although it appears July and January are misplaced? (I'll email Anil - I'm sure it is a minor label issue).
[/update]Happening in Win7 Chrome for me but not in FireFox[update]

http://i.imgur.com/aw2elO8.png


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« Last Edit: June 29, 2015, 09:15:07 PM by lascott »
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lascott

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Re: Wierd goings on at LC
« Reply #23 on: June 29, 2015, 09:17:25 PM »
<snip>
I predict normalcy starting Wednesday.
Hope so. I'm down 9 (-9) notes in one account and down 20 (-20) notes in another account compared to yesterday.  Suspect mostly very recent notes that were invested but not approved or borrower didn't supply info!
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kya

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Re: Wierd goings on at LC
« Reply #24 on: June 29, 2015, 10:53:43 PM »
ive had very few notes issued and im getting 5-8 not issued and $ returned everyday...getting fed up

nonattender

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Re: Wierd goings on at LC
« Reply #25 on: June 29, 2015, 11:34:53 PM »
ive had very few notes issued and im getting 5-8 not issued and $ returned everyday...getting fed up

So, one of the big growing pains, here, which, after LC has gone through, will make it stronger, is that vast swaths of the American
populace are bad credit risks, and that these borrowers must be weeded out before they are presented to investors as "notes". ;)

As the algorithms and the (tacit) institutional memory at LC both get stronger, you're going to see more notes fail to issue as they
continue scaling up marketing efforts [don't worry, they're keeping the info and will get back to those borrowers, later, when they
definitively have figured out how to make them profitable (in the aggregate)], but, for now, be glad they're turning so many away!

This has alway been one of their longterm selling points, the PR "line", in ~2009, used to be "We reject 99 out of 100 borrowers!"
No kidding, they really said that, in public, all the time.  Now they're a little more polite, on the front end, but, still working in back.

(You'd rather have them originate a bunch of junk, just so you can "feel better" about cash drag, while buying non-conformings?)
(I didn't think so - and, luckily for you, their incentives are aligned with yours, as nothing would kill them faster than bad scoring.)
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SeanMCA

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Re: Wierd goings on at LC
« Reply #26 on: June 29, 2015, 11:51:16 PM »
ive had very few notes issued and im getting 5-8 not issued and $ returned everyday...getting fed up

So, one of the big growing pains, here, which, after LC has gone through, will make it stronger, is that vast swaths of the American
populace are bad credit risks, and that these borrowers must be weeded out before they are presented to investors as "notes". ;)

As the algorithms and the (tacit) institutional memory at LC both get stronger, you're going to see more notes fail to issue as they
continue scaling up marketing efforts [don't worry, they're keeping the info and will get back to those borrowers, later, when they
definitively have figured out how to make them profitable (in the aggregate)], but, for now, be glad they're turning so many away!

This has alway been one of their longterm selling points, the PR "line", in ~2009, used to be "We reject 99 out of 100 borrowers!"
No kidding, they really said that, in public, all the time.  Now they're a little more polite, on the front end, but, still working in back.

(You'd rather have them originate a bunch of junk, just so you can "feel better" about cash drag, while buying non-conformings?)
(I didn't think so - and, luckily for you, their incentives are aligned with yours, as nothing would kill them faster than bad scoring.)

Thanks for the reassurance Renaud  ;)
I'm a merchant cash advance veteran exploring the p2p lending waters.

nonattender

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Re: Wierd goings on at LC
« Reply #27 on: June 30, 2015, 12:42:05 AM »
La vérité est la-bas...  8)
A little nonsense now and then is relished by the wisest men.

Half Right

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Re: Wierd goings on at LC
« Reply #28 on: June 30, 2015, 09:04:45 AM »
4780 notes available for funding and not 1 for me. Tomorrows another day. just checking my notes for Greek borrowers to sell on Folio.

sociallender

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Re: Wierd goings on at LC
« Reply #29 on: June 30, 2015, 09:30:07 AM »
Can someone explain to me what is going on.  From the previous posts, it looks like there is a surplus of loans available currently (over 4K notes).  However, now new loans being added during listing time is very small?  Is this correct?  I have a threshold that detects when new notes have been listed on the platform (15 notes more than previously listed new notes).  However, the system hasn't detected new notes recently.  I am assuming because the number of new notes being added are small being that most of them have already been listed?