Author Topic: Why has Folio removed "Download Search Results" - WTF???  (Read 560 times)

Kowser

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Why has Folio removed "Download Search Results" - WTF???
« on: May 06, 2018, 01:45:54 AM »
Has anyone else asked why the "Download Search Results" option is now missing? This was pretty important to me and now I don't see it. Any insights would be greatly appreciated. I can still modify my spreadsheet to work with copying and pasting from the results, but seriously, why are we non-API people getting shafted all the time?

Rob L

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #1 on: May 06, 2018, 10:07:16 AM »
Have you tried using the spreadsheet "pivot table" approach to processing the download of the full smallnotes.csv file? Once you get the hang of it you can set up as many filters as you like (say Neverlate, Term, FicoTrend, PaymentsRemain, OriginalNoteAmount, ...) and display a table of individual notes or the max and min discounts, number of notes for sale, etc.). Pivot tables are set up by drag-and-drop and check boxes so they are easy to try out. Couple of hours and you'll be an expert!

hdsouza

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #2 on: May 06, 2018, 10:45:46 AM »
Kowser,
I agree,  I use that functionality too and without the link  has thrown my process in disarray.
Yes we can use the FULL download although  downloading a file as large as that  will cause LC to throttle your connection. The full file is several MB while the search results are usually in KB, and copying such a large file will cause LC to throttle the connection. I have seen this in  the past.  It looks like they made the change on 5/2. I am going to send them an email shortly.

Rob L

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #3 on: May 06, 2018, 11:29:41 AM »
Guess it depends on what you want to do. I just downloaded the full smallnotes.csv file on my notebook over a wireless connection in 25 seconds. The file size was 58.3 Mbyt. My ISP is Verizon, and I live in Virginia. I ran the Ookla internet speed test and got 45 Mbps download speed. Not terribly fast. No doubt 25 seconds is forever for some applications so that's for the user to decide. I was able to open the file with Excel in 10 seconds, again on my notebook. I only have 6 Gbyt of DRAM installed. The processor is a Intel Core I5 2430M Sandy Bridge (2 cores, 4 threads) and I have it overclocked to 2.8 GHz. That's okay for a notebook, dog slow for a desktop. It's running Win 10 and my C drive is a 1TB Crucial SSD. I don't trade Folio, but I look at this file from time to time just to get a feel for overall pricing. The pivot table filtering makes that quick and easy for me. However, if you're trying to be the first to discover newly listed notes this isn't for you.


Fred93

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #4 on: May 08, 2018, 06:25:09 AM »
I sent LC a message asking "why".  Don't hold your breath.

I told them that the secondary market was in great need of development and added features, so removing features seemed like a step in the wrong direction.

I suggest the rest of you should send a similar query. 

hdsouza

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #5 on: May 08, 2018, 10:27:18 AM »
I sent LC a message asking "why".  Don't hold your breath.

I told them that the secondary market was in great need of development and added features, so removing features seemed like a step in the wrong direction.

I suggest the rest of you should send a similar query.

Thanks Fred.
I received a response from them yesterday "At this time, LendingClub has made the business decision to remove the 'Download Search Results' feature from Folio Investing".
Yes the more of us reaching out to them the better.

Fred93

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #6 on: May 08, 2018, 02:30:11 PM »
I received a response from them yesterday "At this time, LendingClub has made the business decision to remove the 'Download Search Results' feature from Folio Investing".
Yes the more of us reaching out to them the better.

Wow.  What an incredible BS answer!  I translate that to "Go away.  I'm not going to discuss this with you." 

Over the past few years LC has hired more and more of the kind of people who give that kind of BS answer instead of engaging or being transparent.  Its an indication of the large culture shift that has occurred.

I humbly suggest that you should not accept that nonanswer.  Ask them WHY they made this "business decision".  If enough people are persistent, someone may get the message that they made a bad decision. 

hdsouza

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #7 on: May 09, 2018, 08:17:37 PM »

I humbly suggest that you should not accept that nonanswer.  Ask them WHY they made this "business decision".  If enough people are persistent, someone may get the message that they made a bad decision.
Yes I just did. I mentioned that in addition to being a feature that we need, repeated downloading of the  large file would be phenomenal drain of LC's server's resources.  They mentioned the comments would be passed to the team for review.

I have my fingers crossed

Rob L

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #8 on: May 10, 2018, 08:50:06 AM »
From the quarterly report a couple of days ago Self-Directed  loan originations  (that's us) dropped 26% year over year ($297M to $222M).  Managed Accounts originations dropped YOY about 30% ($647M to $452M). Could be this "business decision" is a cost cutting measure and it's directed at a shrinking portion of their customers. There's no way we can know how much this decision will save but it seems LC felt it was enough. IIRC Prosper justified the complete elimination of Folio as a feature that was hardly being used. Let's hope LC doesn't let it come to that.

hdsouza

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #9 on: May 10, 2018, 07:04:08 PM »
I did get a call from LC this afternoon which went to my voicemail and later received an email too.
I guess if the feature is driving their cost up, then its best its gone. The important thing for us is having the secondary market.. which is in line with what Rob mentioned about a dwindling market.
At least we tried.
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Hi Hilario,

Thanks for your patience. I've reached out to the appropriate teams to relay your feedback and gain additional clarity on why the "Download Search Results" feature was removed.

My team has informed me that this feature was discontinued due to high costs with a relatively small population using this feature. However, I definitely understand that this is important to our valued investors such as yourself and apologize for the inconvenience. At the time of the removal, under 200 investors utilized and downloaded the file. Even though a small population downloaded the file, we were billed for each download. As a result, the cumulative number of times the file was pinged added up to high costs.

Once again, I apologize and definitely appreciate your understanding in advance. We hope to prioritize and expand our secondary platform functionalities in the future.
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jheizer

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #10 on: May 10, 2018, 07:13:05 PM »
So if more people used it the cost would be even higher...  Seems dumb.  But yes, at least folio is there still.
Replacement to P2P Quant's Percentile Tool http://lc.geekminute.com

Kowser

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #11 on: May 11, 2018, 03:15:39 AM »
I appreciate everyone's efforts to get to the bottom of this and am very dismayed that it's a feature that was discontinued b/c of a business cost decision. I can not, however, for the life of me figure out how an already programmed feature that is automated and performed by a server request can possibly be that costly. I think based on Rob L's insight, it looks like the small-time Self Directed IRA base is being slowly eliminated, likely b/c the small guys have just enough to keep their accounts free but a very costly amount to LC. It's what $100 a year for SDIRA services? Shame... I guess I won't be contributing any more to my account, I just don't trust LC at this point.

Rob L

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #12 on: May 11, 2018, 09:06:03 AM »
I think based on Rob L's insight, it looks like the small-time Self Directed IRA base is being slowly eliminated, likely b/c the small guys have just enough to keep their accounts free but a very costly amount to LC. It's what $100 a year for SDIRA services? Shame... I guess I won't be contributing any more to my account, I just don't trust LC at this point.

I don't think we are being eliminated by LC so much as I think many individual lenders are walking away voluntarily.
The main reason seems to be the drop in returns over the past few years.

dr.everett

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #13 on: May 12, 2018, 02:00:53 AM »
+1.

Ran

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Re: Why has Folio removed "Download Search Results" - WTF???
« Reply #14 on: May 12, 2018, 07:33:38 AM »
So LC got robbed by Folio?
I did get a call from LC this afternoon which went to my voicemail and later received an email too.
I guess if the feature is driving their cost up, then its best its gone. The important thing for us is having the secondary market.. which is in line with what Rob mentioned about a dwindling market.
At least we tried.
-----------------------------------------------------------------------------------------------------------
Hi Hilario,

Thanks for your patience. I've reached out to the appropriate teams to relay your feedback and gain additional clarity on why the "Download Search Results" feature was removed.

My team has informed me that this feature was discontinued due to high costs with a relatively small population using this feature. However, I definitely understand that this is important to our valued investors such as yourself and apologize for the inconvenience. At the time of the removal, under 200 investors utilized and downloaded the file. Even though a small population downloaded the file, we were billed for each download. As a result, the cumulative number of times the file was pinged added up to high costs.

Once again, I apologize and definitely appreciate your understanding in advance. We hope to prioritize and expand our secondary platform functionalities in the future.
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