Author Topic: Where are the 36's?  (Read 10336 times)

Small Fish Big Pond

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Re: Where are the 36's?
« Reply #15 on: March 11, 2016, 12:14:49 AM »
Didn't believe you until I looked.  Currently 29 36 month loans available on the platform, all As.  The other 1000+ are 60 month loans graded B or lower.

Someone a while back showed data where it looked like LC was smoothing loan issuance around the end of the quarter.  I wonder if they are doing that now?

Any quotable data on this smoothing loan issuance?

Small Fish Big Pond

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Re: Where are the 36's?
« Reply #16 on: March 11, 2016, 01:35:00 PM »
Looks like an improvement of loan drops, 10:00 a.m. picked up 12 notes, also had 5 at the 6:00 a.m. drop.

Rob L

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Re: Where are the 36's?
« Reply #17 on: March 15, 2016, 02:42:31 PM »
Anyone wondering where the 36's were got their answer over the past four days:
Thu 3/10 thru Tue 3/15 and continuing.
Why there was a hiatus who knows, but plenty of listings now.

dompazz

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Re: Where are the 36's?
« Reply #18 on: March 15, 2016, 03:29:14 PM »
Anyone wondering where the 36's were got their answer over the past four days:
Thu 3/10 thru Tue 3/15 and continuing.
Why there was a hiatus who knows, but plenty of listings now.
I agree, we've had a huge load of loans dropped since late last week.  I ran out of cash with a significant number of loans passing my criteria sitting in funding all weekend.

Small Fish Big Pond

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Re: Where are the 36's?
« Reply #19 on: March 15, 2016, 03:36:39 PM »
Yes they are back, let's chalk it up to an market anomally!

tom242

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Re: Where are the 36's?
« Reply #20 on: March 16, 2016, 09:56:44 AM »
Many more notes are now "Approved" when they first appear.  I believe the dearth of 36 month notes occurred as they transitioned to this new process.  I like it.  My Committed Cash value is now $450 while it was usually $1000+, and my "Notes Not Issued" are down also. 

dompazz

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Re: Where are the 36's?
« Reply #21 on: March 16, 2016, 11:38:45 AM »
Many more notes are now "Approved" when they first appear.  I believe the dearth of 36 month notes occurred as they transitioned to this new process.  I like it.  My Committed Cash value is now $450 while it was usually $1000+, and my "Notes Not Issued" are down also.
That depends.  Did they loosen the standards for early approval or are they holding more loans until they are approved?  The second the much preferred to the first.

PhilGD

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Re: Where are the 36's?
« Reply #22 on: March 16, 2016, 01:05:37 PM »
What would be the purpose of holding loans until they are approved, though? And why do it with some loans and not with others?

dompazz

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Re: Where are the 36's?
« Reply #23 on: March 16, 2016, 02:04:56 PM »
What would be the purpose of holding loans until they are approved, though? And why do it with some loans and not with others?
Reduce the number of loans that get funded but never issue. 

Another option is that they streamlined their process for approving loans without compromising approval standards.  I would be skeptical if LC told me this.

Or there is a new definition of "Approved" and the final review that always happened now takes more things into account.  I have never seen a loan that was listed as approved that failed to issue, though.

jennrod12

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Re: Where are the 36's?
« Reply #24 on: March 16, 2016, 02:33:54 PM »
Maybe they were holding the loans back for a different reason and decided to process them for approval while they were waiting.

We're all just guessing!

Jenn

Rob L

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Re: Where are the 36's?
« Reply #25 on: March 17, 2016, 06:23:08 PM »
Supply has been unprecedented the past week. I have never invested so much so quickly since I began in 2013.
Back then I was buying A's and B's in addition to the D's and E's that I buy now.
I think LC's interest rate increases in these risky loans has made them much more attractive to me.
Couple more drops and I'll be out of money.

dompazz

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Re: Where are the 36's?
« Reply #26 on: March 18, 2016, 08:25:28 AM »
Supply has been unprecedented the past week.
...
Couple more drops and I'll be out of money.
With all the supply, I've tightened up my criteria significantly  It's like being at an all you can eat buffet -- just don't fill up on the cheap stuff!

rawraw

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Re: Where are the 36's?
« Reply #27 on: March 18, 2016, 09:24:28 AM »
Supply has been unprecedented the past week.
...
Couple more drops and I'll be out of money.
With all the supply, I've tightened up my criteria significantly  It's like being at an all you can eat buffet -- just don't fill up on the cheap stuff!
If you don't like them with abundant supply, are you sure you should like them when there isn't  a lot of notes? I don't know the answer for you, but in fixed income that tends to lead to bad results and inaccurately pricing risk. So figured I'd just pose the question

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dompazz

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Re: Where are the 36's?
« Reply #28 on: March 18, 2016, 09:37:58 AM »
If you don't like them with abundant supply, are you sure you should like them when there isn't  a lot of notes? I don't know the answer for you, but in fixed income that tends to lead to bad results and inaccurately pricing risk. So figured I'd just pose the question

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No, all I'm saying is that I am high pointing the notes that are being offered.  My base filters drop all notes I think are crap. 

So if I normally got 8% pass rate on a 50 note drop, then 4 notes would pop out.  Getting a consistent 125 notes, that means I am getting 10 or so per drop.  But I have a strong suspicion that more notes are coming in the next drop.  Instead of filling up on the 10 passing notes in drop one, I tighten the filter so that I only get 3-4 per drop.  This leads me to buying the creme of the crop and still keeping my cash balance low.

Or said another way, I was buying the top 10%.  Now I'm buying the top 5%.  The top 10% are profitable, but the top 5% are more so. 

The trade off of waiting for better notes vs cash drag has dramatically swung to being on the side of waiting.

Rob L

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Re: Where are the 36's?
« Reply #29 on: March 18, 2016, 02:15:28 PM »
I resisted the temptation to lower my standards and cash just kept building up.
That was okay by me. Now volume's through the roof and I am out of money.
I'm decreasing my note size to enhance diversity. I'll see if I'm able to stay fully invested with $25 notes.
Been buying an awful lot of E's lately; a result of the interest rate increase.
I expect volume to dry up as usual when we get closer to the end of the quarter.