Author Topic: Has the issued vs. non issued loans ratio changed over time?  (Read 2042 times)

GS

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I know it's anecdotal.

I've been here for 3 years, and when I go back and look my order history, the number of loans that issued vs. non-issued seems to have changed.  These days, it is rare IMO for a loan to not issue once funded.  Back then, I'd say about 20 to 25% didn't issue, and got pulled, withdrawn, or cancelled by LC.

Anyone else notice this, and if so, what does it mean?  Is LC pre-screening?  Less screening?  Loosening their requirements to get more origination fees? 

EDIT:

I did a little math, on a sample of orders from 2013, 44% "expired" without issuing.  A recent sample from 2016, only 10% expired.
« Last Edit: May 04, 2016, 09:40:59 PM by GS »

RaymondG

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Re: Has the issued vs. non issued loans ratio changed over time?
« Reply #1 on: May 04, 2016, 10:24:27 PM »
Not sure what's the cause. Hope it's because improved, quicker & better underwriting in the beginning.

Here is what from my account.

Comparison of [Expired] / [Submitted Notes] from date range of 1/1 to 4/30          
         
Year   Expired   Issued   E/(E+I)
2016    19           104          15%
2015    69           217          24%
2014    184           356          34%
2013    126           179          41%
« Last Edit: May 04, 2016, 10:28:38 PM by RaymondG »

Ran

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Has the issued vs. non issued loans ratio changed over time?
« Reply #2 on: May 04, 2016, 10:24:38 PM »
Good findings. Also changed are that almost all loans are approved when released. Since it also appears now there are a few days delay vs minimum delays between loan submission and release time before, it's possible that LC now vet the loans first before releasing which increased the portion of funded loans

Lovinglifestyle

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Re: Has the issued vs. non issued loans ratio changed over time?
« Reply #3 on: May 04, 2016, 10:40:53 PM »
On April 5 I put in an order for 12 notes.  It was completed May 2 with 2 issued, 1 withdrawn, and 9 removed!  Worst order ever!  Am really glad to see so many approved now.