Author Topic: Alerting from any third party service on collection notes  (Read 3252 times)

thezinfan

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Alerting from any third party service on collection notes
« on: January 06, 2016, 09:50:13 AM »
Hi, do any of the third party services have "alerting" if your notes for sale have collection notes added? I've had two notes get picked from me that out of the blue got the "borrower promised to pay" note, and then the notes went current (they were 31-120). They were bought about after the notes appeared, but before i looked to see if any new collection notes were there. I'm thinking some folks have an "automated" way of scanning fore new collection notes.....

Larry

kbenson99

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Re: Alerting from any third party service on collection notes
« Reply #1 on: January 07, 2016, 11:54:08 AM »
As of 9:50am, there were 231,224 notes on the secondary market, with a loan count by status breakdown as follows:

StatusCnt
Current85372
Late (16-30 days)925
Issued4717
Late (31-120 days)3858
In Grace Period1160

Given that a note's collection log is only available from loanPerf.action, it would be extremely expensive to be constantly scanning 3858 loans, for loans that are Late (31-120 days).  A person who is trying to constantly scan the collection logs of Late (31-120 days) loans would most definitely get flagged by LendingClub for screen scraping, which LC spells out as prohibited "[w]ithout our prior consent".

dr.everett

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Re: Alerting from any third party service on collection notes
« Reply #2 on: January 07, 2016, 01:34:48 PM »
Used to be that Interest Radar did this, but it's been broken for a long time.

Rob L

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Re: Alerting from any third party service on collection notes
« Reply #3 on: January 07, 2016, 06:58:43 PM »
Given that a note's collection log is only available from loanPerf.action, ...

Doesn't one have to own a note in a loan to perform loanPerf.action?
I've posted example notes here on the forum that others were not able to access because they did not own them.
Is mass screen scraping even possible (though prohibited by LC)?

yojoakak

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Re: Alerting from any third party service on collection notes
« Reply #4 on: January 07, 2016, 08:29:36 PM »
Doesn't one have to own a note in a loan to perform loanPerf.action?
I've posted example notes here on the forum that others were not able to access because they did not own them.

You can view loan perfs for notes you don't own through Foliofn, so obviously that is not true. You just need loan_id and order_id to view a notes. note_id is included in the URL but it is only used for display. After a note is sold, old order_id's continue to work as well, I believe.

For example: https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?loan_id=4298677&order_id=6513344
« Last Edit: January 07, 2016, 08:46:41 PM by yojoakak »

Rob L

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Re: Alerting from any third party service on collection notes
« Reply #5 on: January 08, 2016, 09:14:13 AM »
You can view loan perfs for notes you don't own through Foliofn, so obviously that is not true. You just need loan_id and order_id to view a notes. note_id is included in the URL but it is only used for display. After a note is sold, old order_id's continue to work as well, I believe.
For example: https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?loan_id=4298677&order_id=6513344

I don't currently use Foliofn an don't know anything about it except what I get from reading the posts from others here.

I'm able to access the sample loan posted above (no note_id required) in the Foliofn area.
1) Where do I get the order_id to perform the browseNotesLoanPerf.action if I don't own the loan?
2) The display provides "note amount $25.00" but no note id itself. The URL did not include the note_id as far as I could see. How does it know the note amount?
3) The collection log was not provided. Wasn't that what the OP was trying to get in the first place. How may that be obtained?

Sorry for all the noob questions. TIA.

kbenson99

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Re: Alerting from any third party service on collection notes
« Reply #6 on: January 08, 2016, 10:39:47 AM »
With regards to the URL pattern, https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=XXX&order_id=YYY also works (where XXX is the loan_id and YYY is the order_id).  For example this one
https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=52026630&order_id=72212665 which I don't own (and have never owned previously).

1) If you currently don't own (or previously owned), the only source for the order_ids is from Folio via search results in https://www.lendingclub.com/foliofn/notesRawData.action or full Folio inventory https://resources.lendingclub.com/SecondaryMarketAllNotes.csv which is about 40mb.
2) It knows from the order_id.  Only 1 note_id for each loan_id can be in an order.  So, if you provide an order_id, LC knows the specific note_id for a loan.
3) In the URL I provided above for loan_id 52026630, you should be able to see the collection log.  In the URL that yojoakak provided, unfortunately the loan has never been late; thus, no collection log info.

Rob L

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Re: Alerting from any third party service on collection notes
« Reply #7 on: January 08, 2016, 12:17:06 PM »
Thanks, that clears up a lot!
I did see 52026630 and its associated collection log and I've never owned it.

Okay; more "20 questions":
How often is https://resources.lendingclub.com/SecondaryMarketAllNotes.csv updated, and when?
Same question for https://www.lendingclub.com/foliofn/notesRawData.action?
« Last Edit: January 08, 2016, 12:30:28 PM by Rob L »

kbenson99

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Re: Alerting from any third party service on collection notes
« Reply #8 on: January 09, 2016, 07:44:29 PM »
From what I've seen, the note listing for sale from https://www.lendingclub.com/foliofn/notesRawData.action is "live".  In other words, if you can find the notes on the folio web site, they are in the notesRawData.action download. 

There is a strangeness in the notes listed in https://resources.lendingclub.com/SecondaryMarketAllNotes.csv; I've seen where sometimes the notes on the folio web site are not in the SecondaryMarketAllNotes.csv download and vice versa.  Also, there is a time delay of several minutes (sometimes 15 minutes or more) that I've noticed after listing a note on folio and it's not in the SecondaryMarketAllNotes.csv download instantly.

There is a discussion in this thread http://www.lendacademy.com/forum/index.php?topic=3521.0 about some of the issues around notes not appearing on the folio web site.