Author Topic: Just starting out, have some questions:  (Read 2685 times)

texas_archer

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Just starting out, have some questions:
« on: July 03, 2015, 05:34:16 PM »
1) how do I exclude resisted loans in my filter?
2) How do I tell the filter to only invest in new loans recently issued?
3) What is the check-box "completed notes only" for?
4) What does "Initial List Status" F or W refer to?
5) What Filtered Notes Percentage should I be looking for?  My current filter is 0.19%, which seems incredibly low.

filter is:
model >= 80 & homeOwnership %in% c("MORTGAGE", "OWN") & inqLast6Mths <= 0 & annualInc >= 72000 & loanAmount >= 10000 & term %in% "36" & inqLast6Mths >= 0 & addrState %in% c("AK", "AL", "AR", "CO", "CT", "DC", "DE", "GA", "HI", "IA", "ID", "IL", "IN", "KS", "KY", "LA", "MA", "MD", "ME", "MI", "MN", "MO", "MS", "MT", "NC", "NE", "NH", "NJ", "NM", "NY", "OH", "OK", "OR", "PA", "RI", "SC", "SD", "TN", "TX", "UT", "VA", "VT", "WA", "WI", "WV", "WY") & purpose %in% c("credit_card", "debt_consolidation") & grade %in% c("D", "E", "F", "G")
« Last Edit: July 03, 2015, 05:53:30 PM by texas_archer »

sociallender

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Re: Just starting out, have some questions:
« Reply #1 on: July 03, 2015, 06:21:54 PM »
1)  I am not sure what a resisted loan is.  Do you mean a relisted loan? PLS can only filter by what is available in the API listings: https://www.lendingclub.com/developers/listed-loans.action.  I don't see that data field available. So, I dont think it's possible.
2) PLS will only invest in new loans recently issued.  It will never invest in loans from previous lists as the software will only download loans from the most recent list.  This prevents reinvestment in the same loan (unless you run the software multiple times in between list and the note is not already fully funded.  By default, PLS only runs at list and not between.  However, you can configure PLS to run as many times as you like.).  So, just to be clear, via the API, PLS will download only new notes from the most recent list (this is a feature of LCs API).  The other benefit here is that the all the notes don't need to be downloaded which requires bandwidth and extra time.  Just downloading new notes is very fast (which is important with competition these days)
3) If you want to do historical analysis only on completed notes (not current), click that box and it will only show you notes which have been completed.  This is only used for historical analysis purposes.
4) Fractional or Whole.  Notes can be listed on the whole market before being sent to the fractional market.  PLS works in the fractional market ($25 increments).
5)   Yes, your filter appears to be pretty tight. You should expect to see around .19% of new notes match your criteria.  For example, if 500 new notes are listed in a given day, you may have 1 match your criteria (.0019 x 500).  However, there is no guarantee.  I would try starting with your most general filter criteria (for example term 36 months), then add the remaining filters one at a time and watch the filtered notes percentage to see which is the most restrictive and perhaps modify your filter given that knowledge.

SL

texas_archer

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Re: Just starting out, have some questions:
« Reply #2 on: July 03, 2015, 06:33:57 PM »
Thanks again, that helped alot! 

Im a boglehead (index investor), but have some play money to invest, and this interested me.

Thank again.

texas_archer

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Re: Just starting out, have some questions:
« Reply #3 on: July 03, 2015, 11:22:25 PM »
I think Ive got it where I want it and have three more questions:

1) My account is not going to be funded until Thursday.  If I start the software now, will it tell me how many notes it tried to buy but couldn't because there was no money in the account?

2) Can I run two instances of this in Oracle (one for my 36 day loan criteria and one for my 60 day loan criteria)?

3) Where can I find the statistics one how many loans, on average, LC issues per day?

sociallender

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Re: Just starting out, have some questions:
« Reply #4 on: July 04, 2015, 09:24:55 AM »
1) It should stop with an error that you do not have sufficient cash to meet your minimum investment (at minimum $25).  Since you don't have any funds, you won't be able to order any notes.

2) Yes, you can run 2 or more instances.  However, I don't recommend it as you will be running list detection and downloading the notes twice.  I would copy both filters (given at bottom of filter page) and join them together with logical OR.  Something like (term==36 & grade=='A') | (term==60 & grade=='A').  I haven't tested this filter but should resemble it with logical groupings.  You then manually put this as your filter in the custom tab.

3) I am not sure.  Try peercube, nickelsteamroller or LR.  They are pretty good stat sites. 

SL

texas_archer

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Re: Just starting out, have some questions:
« Reply #5 on: July 04, 2015, 01:08:08 PM »
Thanks, can you explain why the Scheduled Service runs one minute before new notes are released? 

Thanks.

lascott

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Re: Just starting out, have some questions:
« Reply #6 on: July 04, 2015, 01:47:06 PM »
Thanks, can you explain why the Scheduled Service runs one minute before new notes are released?  Thanks.
Educated guess -- Lending Club seemed to adjust the release times regularly for a while.  Plus I'd say your local PC clock may not be accurate unless you use a service to sync.

Pretty consistent recently tho. Thanks to Anil @ PeerCube.com for tweeting this info.
https://twitter.com/search?q=Lending%20Club%20Available%20Loans%20Tracker&src=typd&vertical=default&f=tweets
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

sociallender

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Re: Just starting out, have some questions:
« Reply #7 on: July 04, 2015, 02:20:58 PM »
Thats correct.  LC has been consistent recently with new notes list times.  However, sometimes it can be either early or late.  Best to start one minute early to load the system and prepare.  It basically sends continuous API requests until new notes appear. 

Also, cron, the linux scheduler, has  a 60 second frequency.  It was just easier to set it up by minutes than to add in seconds programatically. 

The clock should be OK as it has NTP running (as long as no firewall issues).  However, don't know if the host OS is way off time, how much it will affect the PLS instance. 

SL