Author Topic: New Loans of the E F and G Grades  (Read 16792 times)

Rob L

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Re: New Loans of the E F and G Grades
« Reply #15 on: June 25, 2016, 02:40:06 PM »
Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things.

How does that work? I think the SecondaryMarketAll.csv file only provides the most recent FICO (FICO End Range) so what do you use for comparison?

If an individual owns the loan the FICO at origination is in their mynotes.csv so that works for sellers. Buyers can get the FICO at origination from LoanStats or PmtHist but not the most recent 3 months since they are updated quarterly. Is there something simple I'm missing?


jrr6415sun

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Re: New Loans of the E F and G Grades
« Reply #16 on: June 25, 2016, 02:54:30 PM »
I haven't seen an E,F or G loan in weeks and right now there are only A and B loans. Is there a ton less borrower demand now or is LC saving all of these notes for institutional investors?

At the 6PM feeding, the following new loans appeared
26 grade E, of which 14 were fractional + 12 whole.
11 grade F, of which 10 were fractional + 1 whole.

So no, I don't see "LC saving all of these notes for institutional investors". 

Facts are more useful than recycled conspiracy theories, and this "they must save all the good stuff for the institutional boys" conspiracy theory is really getting old.

ok, but that's still a ton less then what it used to be. Are you saying then there is just not enough borrowers anymore?

PhilGD

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Re: New Loans of the E F and G Grades
« Reply #17 on: June 25, 2016, 03:54:25 PM »
Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things.

How does that work? I think the SecondaryMarketAll.csv file only provides the most recent FICO (FICO End Range) so what do you use for comparison?

If an individual owns the loan the FICO at origination is in their mynotes.csv so that works for sellers. Buyers can get the FICO at origination from LoanStats or PmtHist but not the most recent 3 months since they are updated quarterly. Is there something simple I'm missing?

It's true that newly issued loans are only added to the historical files once per quarter. But payment data and recent FICO scores on existing loans are updated once per month.

rawraw

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Re: New Loans of the E F and G Grades
« Reply #18 on: June 25, 2016, 04:46:53 PM »
I try to catch any developing FICO issues manually by looking at the note exports once a month. Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things. Unfortunately granular FICO drops are something that none of the tools that I am aware of does, and would be a really cool feature to have.
I do the same thing and wish there was a tool to automate it.  PeerCube calculates the drop for you.  But 20/month is too much for an account of my size.

Zach

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Re: New Loans of the E F and G Grades
« Reply #19 on: June 25, 2016, 06:57:22 PM »
Lots of these grades available on Folio. Pretty much all of my activity as of late has been there. Many good deals to be found. And since they are not "new", a bit less chance of straight roller, one and done, etc.
Have not looked today, but recently I have thought the really good deals, -3+ have really dried up.  Should say except for notes that I have a tough time pulling the trigger on.  I just can not get myself to buy notes who have been 16+ days late.  IGP can not be recent either.  I see all the time notes that are IGP every single month and pay on the same exact day and no doubt are perfectly good, but if they do not mind getting calls every month, something is wrong with them not moving the payments back. 
Maybe it is an irrational fear, but I would rather snag a note -1.5 with solid payment history with not an adverse YTM, then to take chances on those notes with a -3 or -5 discount. 
Am I wrong?

In my case, I'm working more towards what I see and want on Folio- as stands right now my tools make purchases there based on the filters I have set, followed afterwards by new loans being issued. For the last few weeks there was never money left over to buy new loans- it was all consumed by Folio purchases. And this is on 2 accounts that each generate $200-700 a day of payment activity.

Today is the first day a new loan was purchased- and that was by Lending Robot. I also use Interest Radar with some other filters- it tends to fire only after LR has finished and if there is still money available. It hasn't made any purchases in weeks. I consider this to be an excellent position to be in as my earlier days used to have periods of time where $1k or more was waiting to be loaned out, or it was waiting in committed cash for loans to fund, followed by the usual return because the loan failed a check, etc.

Others here talk about being fully invested and having minimal cash waiting. Both my accounts currently have $0 waiting in commited cash, and .45 available in one account, the other has $4.56. Seeing that makes me very happy.  8)
With that amount daily to invest, I see why you are automated on FOLIO.  I would/could never do that though.  No doubt that one of your filters is up/flat for FICO.  I have sent requests both to NSR and Anil at PC about adding a feature that will allow to filter recent  FICO.  I see notes all the time on FOLIO that has an up FICO overall, but a recent bad downturn.  A note can have 130 upswing and look great.  But if it has a recent 120 downswing, you would never see it on auto. 
If you are buying up to 40 notes a day, doubt an oddity like that would even be much of a factor to be concerned with.

While not 100% accurate due to delays in reporting of FICO updates by LC, you can create a formula on NSR Platform right now using the last reported FICO score and the origination FICO score. It would be "Last FICO Range Low" - "FICO Range Low". Then, put in a range of values to filter for the difference you want. For example, putting in 50-60, would return (for the most part) only notes with 50-60 point increases.

If you're buying manually from the search results, this works for now since you can easily identify notes with more volatile increases or decreases in FICO.

For just getting the value of the current FICO (more accurate) as reported by the Folio listing data, there is a criteria option in the Secondary Market filters accordion. You can also create a filter with both the origination FICO and the Secondary Market Last FICO to be a bit more precise.


Larry321

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Re: New Loans of the E F and G Grades
« Reply #20 on: June 25, 2016, 06:58:12 PM »
I haven't seen an E,F or G loan in weeks and right now there are only A and B loans. Is there a ton less borrower demand now or is LC saving all of these notes for institutional investors?

At the 6PM feeding, the following new loans appeared
26 grade E, of which 14 were fractional + 12 whole.
11 grade F, of which 10 were fractional + 1 whole.

So no, I don't see "LC saving all of these notes for institutional investors". 

Facts are more useful than recycled conspiracy theories, and this "they must save all the good stuff for the institutional boys" conspiracy theory is really getting old.

ok, but that's still a ton less then what it used to be. Are you saying then there is just not enough borrowers anymore?

There are more than enough borrowers. The problem is that the institutional money to buy loans is gone, so LC is processing less loans, and we, the indiviual investors are at the bottom of the food chain.
LC notes investor for 3 years

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Rob L

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Re: New Loans of the E F and G Grades
« Reply #21 on: June 25, 2016, 07:08:15 PM »
Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things.

How does that work? I think the SecondaryMarketAll.csv file only provides the most recent FICO (FICO End Range) so what do you use for comparison?

If an individual owns the loan the FICO at origination is in their mynotes.csv so that works for sellers. Buyers can get the FICO at origination from LoanStats or PmtHist but not the most recent 3 months since they are updated quarterly. Is there something simple I'm missing?

It's true that newly issued loans are only added to the historical files once per quarter. But payment data and recent FICO scores on existing loans are updated once per month.

If you are lucky you learn something new every day! Thanks. I always thought that the LoanStats files were released within a very short time period after LC released it's quarterly report. No updates between. I've never had the privilege of slogging through the PmtHist file so have no have no experience with that.

dr.everett

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Re: New Loans of the E F and G Grades
« Reply #22 on: June 25, 2016, 07:58:36 PM »
Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things.

How does that work? I think the SecondaryMarketAll.csv file only provides the most recent FICO (FICO End Range) so what do you use for comparison?

If an individual owns the loan the FICO at origination is in their mynotes.csv so that works for sellers. Buyers can get the FICO at origination from LoanStats or PmtHist but not the most recent 3 months since they are updated quarterly. Is there something simple I'm missing?

What I do- which may be correct/incorrect- is pull my notes.csv- in it, are two fields, Fico_Range_High, and Last_Fico_Range_High. They also have the date the last Fico was pulled. I use a filter to show me down trends, along with logic to filter notes with a 30 or more drop. That gets me to my "eyeball list" that I look at and decide to keep or sell.

There have been times where the scores have not updated in a while, but I always seem to find notes doing things FICO wise that I don't like- monthly checks seem to keep things like that as well as others under control.

dr.everett

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Re: New Loans of the E F and G Grades
« Reply #23 on: June 25, 2016, 08:06:20 PM »
I try to catch any developing FICO issues manually by looking at the note exports once a month. Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things. Unfortunately granular FICO drops are something that none of the tools that I am aware of does, and would be a really cool feature to have.
I do the same thing and wish there was a tool to automate it.  PeerCube calculates the drop for you.  But 20/month is too much for an account of my size.

Yeah I pay around $20 a month for Lending Robot right now- that's been going up gradually over time as it manages more of my accounts. I also use Interest Radar as well at $60 a year. When their transition to BV completes I'll have to make a decision as to which I keep. LR is doing great on my purchasing- but does not meet my selling needs. IR does a great job at handling that.

If LR handled selling like IR, it'd be a no-brainer for me.

Rob L

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Re: New Loans of the E F and G Grades
« Reply #24 on: June 25, 2016, 09:45:11 PM »
Got a spreadsheet set up that loads the CSV file and then filters for excessive drops amongst other things.

How does that work? I think the SecondaryMarketAll.csv file only provides the most recent FICO (FICO End Range) so what do you use for comparison?

If an individual owns the loan the FICO at origination is in their mynotes.csv so that works for sellers. Buyers can get the FICO at origination from LoanStats or PmtHist but not the most recent 3 months since they are updated quarterly. Is there something simple I'm missing?

What I do- which may be correct/incorrect- is pull my notes.csv- in it, are two fields, Fico_Range_High, and Last_Fico_Range_High. They also have the date the last Fico was pulled. I use a filter to show me down trends, along with logic to filter notes with a 30 or more drop. That gets me to my "eyeball list" that I look at and decide to keep or sell.

There have been times where the scores have not updated in a while, but I always seem to find notes doing things FICO wise that I don't like- monthly checks seem to keep things like that as well as others under control.

That should work very well to keep an eye on the notes you own (those in mynotes.csv). However when one is looking to find FICO change since origination for notes to consider buying then the only "readily" available indicator is UP/FLAT/DOWN trend (no magnitude). FICO last is also available. I guess to balance the books the buyers have the NeverLate status that is not in mynotes.csv so the sellers don't have ready access to that. All in all it's a well designed system with perfect information symmetry for buyers and sellers (not)  :o

AnilG

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Re: New Loans of the E F and G Grades
« Reply #25 on: June 25, 2016, 11:15:52 PM »
geez ... what is the point of being fellow forum member if I can't offer you a trial? Send me an email and I will hook you up with one month trial for Pro plan. I am pretty sure you might start with FICO score up/down, but pretty soon you will have multiple buy strategies running on primary and folio and multiple sell strategies on folio. PeerCube provides you the tools with built-in flexibility to do as much or as little as you want. What you do with it , is up to you.
 
I do the same thing and wish there was a tool to automate it.  PeerCube calculates the drop for you.  But 20/month is too much for an account of my size.
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fliphusker

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Re: New Loans of the E F and G Grades
« Reply #26 on: June 26, 2016, 02:50:36 AM »
Anil, was not my intention to ever step on your toes.  I also thanked you multiple times in my email, which I really do appreciate.  In my email I explained things that I saw that PC could benefit from.  Also explained why I could not use an auto buy FOLIO system.  $20 is too much for my account, when my interest per month is just double that. 
There are so many awesome things with PC, I honestly can not say enough about it.  For most people I would absolutely say go get it, it is well worth it for all the great and flexible features it offers. 
geez ... what is the point of being fellow forum member if I can't offer you a trial? Send me an email and I will hook you up with one month trial for Pro plan. I am pretty sure you might start with FICO score up/down, but pretty soon you will have multiple buy strategies running on primary and folio and multiple sell strategies on folio. PeerCube provides you the tools with built-in flexibility to do as much or as little as you want. What you do with it , is up to you.
 
I do the same thing and wish there was a tool to automate it.  PeerCube calculates the drop for you.  But 20/month is too much for an account of my size.

rawraw

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Re: New Loans of the E F and G Grades
« Reply #27 on: June 26, 2016, 08:20:31 AM »
geez ... what is the point of being fellow forum member if I can't offer you a trial? Send me an email and I will hook you up with one month trial for Pro plan. I am pretty sure you might start with FICO score up/down, but pretty soon you will have multiple buy strategies running on primary and folio and multiple sell strategies on folio. PeerCube provides you the tools with built-in flexibility to do as much or as little as you want. What you do with it , is up to you.
 
I do the same thing and wish there was a tool to automate it.  PeerCube calculates the drop for you.  But 20/month is too much for an account of my size.
After earnings season I'll hit you up.  From revisiting the website, seems like I may be able to justify a 50 bps reduction in my annual returns from some of the features :)

AnilG

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Re: New Loans of the E F and G Grades
« Reply #28 on: June 26, 2016, 04:00:34 PM »
No hurry, whenever you are ready. Just make sure that you have entered Lending Club API keys few weeks before you intend to go Pro so that system can develop history for your account.

"... 50 bps reduction in my annual returns ..." No, no, no ... you are in professional investment industry so I don't need to explain about inefficiencies in this market compared to stock markets. More effort you put in learning, identifying inefficiencies and implementing different strategies, more accretive such efforts are to your return in this market. For rest who don't want to make effort, there is free LC's own auto investing .

BTW, the free trial offer is not exclusive to rawraw. Any active forum participant is welcome to contact me through email or contact form https://www.peercube.com/welcome/contact. Just have regular PeerCube account with your Lending Club account API keys for couple of weeks before contacting me for Pro trial and let me know your PeerCube registration info and forum username.

After earnings season I'll hit you up.  From revisiting the website, seems like I may be able to justify a 50 bps reduction in my annual returns from some of the features :)
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PeerCube Thoughts blog https://www.peercube.com/blog
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rawraw

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Re: New Loans of the E F and G Grades
« Reply #29 on: June 26, 2016, 08:24:59 PM »
No hurry, whenever you are ready. Just make sure that you have entered Lending Club API keys few weeks before you intend to go Pro so that system can develop history for your account.

"... 50 bps reduction in my annual returns ..." No, no, no ... you are in professional investment industry so I don't need to explain about inefficiencies in this market compared to stock markets. More effort you put in learning, identifying inefficiencies and implementing different strategies, more accretive such efforts are to your return in this market. For rest who don't want to make effort, there is free LC's own auto investing .

BTW, the free trial offer is not exclusive to rawraw. Any active forum participant is welcome to contact me through email or contact form https://www.peercube.com/welcome/contact. Just have regular PeerCube account with your Lending Club account API keys for couple of weeks before contacting me for Pro trial and let me know your PeerCube registration info and forum username.

After earnings season I'll hit you up.  From revisiting the website, seems like I may be able to justify a 50 bps reduction in my annual returns from some of the features :)
Yeah that's what I meant (the benefit may be accretive even with the cost), just wrote the reply in a hurry as I often do. I'll get my keys loaded in for now

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