Author Topic: Are we all seeing many late payments this month?  (Read 6046 times)

jasonnet

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Are we all seeing many late payments this month?
« on: April 28, 2016, 01:24:03 PM »
In the last six months I've seen approximately three late payments on the loans I own at LendingClub.  At least until early April.  It's now late April and I've seen seven late payments in eight days.   Are others seeing this as well?   Is this normal for April (tax season here in the USA)?   Is there a field in the historical CSV files that I can use to check the date of the last normally scheduled payment made for a given loan (so that I can check what typically happens in April)?

RaymondG

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Re: Are we all seeing many late payments this month?
« Reply #1 on: April 28, 2016, 01:33:22 PM »
This month is normal to me. More information about your account, such as # notes, weighted average interest rate, average loan age etc.?

yojoakak

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Re: Are we all seeing many late payments this month?
« Reply #2 on: April 28, 2016, 02:43:58 PM »
I see late payments every month. Are you seeing something unusual?

Lovinglifestyle

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Re: Are we all seeing many late payments this month?
« Reply #3 on: April 28, 2016, 07:44:35 PM »
I'd suspect taxes this month do play a role.

I've had 12 lates this month (out of roughly 2625 issued and current), which seems pretty good to me ---BUT!---the unusual part is that only two had DOWN Fico score trends, and the other 10 are UP trends!

jasonnet

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Re: Are we all seeing many late payments this month?
« Reply #4 on: April 28, 2016, 10:13:29 PM »
Thanks.  It's good to hear what others are experiencing.  I started with LendingClub last summer and have been buying loans steadily.   I now have almost 400 loans.   At first LendingClub was picking my (ABCD) loans but after two months I took control, picking only B loans.  The one's I picked were going great and the one's LC picked were questionable.  But recently in eight days seven of my loans dropped in to "In Grace Period" status.   I don't see anything in common with these loans except that I bought two of them the same week. As a point of comparison, only two of my loans spent time in that state in February and only three in March.

rawraw

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Re: Are we all seeing many late payments this month?
« Reply #5 on: April 30, 2016, 08:21:53 AM »
My past dues spiked as well.  Adjusted ANAR dropped like 30 bps in a month, but it's started to go back up slightly.

fliphusker

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Re: Are we all seeing many late payments this month?
« Reply #6 on: April 30, 2016, 11:41:02 AM »
Payments started in April for my brand new account.  Feel pretty lucky and only 1 late, but then paid.  140 notes. 

Fred93

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Re: Are we all seeing many late payments this month?
« Reply #7 on: April 30, 2016, 05:22:28 PM »
I've kept track of the number of lates in my portfolio over time.  I do this as a ratio to the size of the active portfolio.  For comparison, I also track the same number for LC's broad based fund, which is essentially an index fund as it invests in loans across the LC credit spectrum.  I don't see anything dramatic this month. 


If the chart above doesn't appear, hit refresh.  The darn hosting company I use (godaddy) seems to abort a lot of requests.
« Last Edit: April 30, 2016, 07:19:03 PM by Fred93 »

rawraw

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Re: Are we all seeing many late payments this month?
« Reply #8 on: April 30, 2016, 07:11:09 PM »
The line is upward sloping.  Does anyone here do vintage curves on their LC notes (similar to what LC does in their 10K)?  I've never done that before and figured I may use LC as a learning opportunity

jennrod12

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Re: Are we all seeing many late payments this month?
« Reply #9 on: April 30, 2016, 09:08:37 PM »
I've kept track of the number of lates in my portfolio over time.  I do this as a ratio to the size of the active portfolio.  For comparison, I also track the same number for LC's broad based fund, which is essentially an index fund as it invests in loans across the LC credit spectrum.  I don't see anything dramatic this month. 

Hi Fred,

How do you get this monthly number - do you take it once at the end of the month or beginning of the month?

Thanks,  Jenn

Fred93

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Re: Are we all seeing many late payments this month?
« Reply #10 on: May 01, 2016, 12:11:36 AM »
How do you get this monthly number - do you take it once at the end of the month or beginning of the month?

For my own account I use the numbers on the monthly statement.  The numbers are therefore sampled at the end of each month.  For the most recent month, in this case I took the numbers from the account summary web page.  The last business day of the month just passed, so I think these numbers will be same that appear on the statement.

The statement shows two kinds of "late".  I add them together.  I ignore "issued" because they couldn't possibly get late yet.  I just take the two kinds of late and the current numbers and put them into a spreadsheet.

For the LC BBCCQ fund (Lending Club Broad Based Consumer Credit Fund for Qualified investors) they send me a monthly status sheet, and I copy the numbers from there.

jennrod12

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Re: Are we all seeing many late payments this month?
« Reply #11 on: May 01, 2016, 09:57:06 AM »
Cool, thanks!

Jenn

RaymondG

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Re: Are we all seeing many late payments this month?
« Reply #12 on: May 01, 2016, 01:19:28 PM »
How do you get this monthly number - do you take it once at the end of the month or beginning of the month?

For my own account I use the numbers on the monthly statement. 
For the LC BBCCQ fund ...

@Fred93 - For the LC BBCCQ fund, does LC share the notes' distribution by loan grade?

Fred93

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Re: Are we all seeing many late payments this month?
« Reply #13 on: May 01, 2016, 05:00:51 PM »
@Fred93 - For the LC BBCCQ fund, does LC share the notes' distribution by loan grade?

Yes.  It says I'm not supposed to share details tho, as silly as that may seem.  Suggest you call or email them and ask for a copy of the most recent monthly info sheet on the broad based fund.  They will probably direct you to one of the LC Advisors customer relations people, and he will probably email you a copy. 

AnilG

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Re: Are we all seeing many late payments this month?
« Reply #14 on: May 02, 2016, 01:03:14 PM »
Just be careful with the interpretation of delinquency rate curves. Delinquency rate can be influenced by two factors - number of delinquent notes and/or number of active notes.

Code: [Select]
delinquency rate by note count = Number of late notes / Number of active notes.
delinquency rate by outstanding principal = Outstanding principal of late notes / Outstanding principal of active notes

For example, delinquency rate will be higher, if you decide not to reinvest repayments in new notes or let cash buildup in your account, i.e. fewer active notes thus higher delinquency rate. Similarly, you can drop your delinquency rate significantly by adding and deploying more cash into new notes.

The line is upward sloping.  Does anyone here do vintage curves on their LC notes (similar to what LC does in their 10K)?  I've never done that before and figured I may use LC as a learning opportunity
---
Anil Gupta
PeerCube Thoughts blog https://www.peercube.com/blog
PeerCube https://www.peercube.com