New Platform

[Rob L]

LC is just following in the footsteps of Prosper who "improved" their website quite some time ago.
Yet nobody was complaining nor thought LC would spend money to "improve" the retail lender's experience.
This page may be the first of many "improvements" to come. Guess we will see.
I rarely visit my LC account but did last week to see the changes for myself. Also took the opportunity while there to move all the recent cash that had accumulated back to SDIRA. Only $17k to go.

[jpildis]

Does anyone have the link to download the folio trades?

[lendingprosper23]

Where is the folio aka sell notes button?

How can I send notes from 1 portfolio as I have charge offs to the other finish loan portfolio I have?

What lunatic created this site and why oh why is anyone adding new money into this space? Lending club returns suck and prosper makes it impossible to cash out a lump sum pending the website running into legal issues or you have a medical emergency, never mind the fact that that at even 10% discounts for never late loans im still selling my portoflio nearly 1 year later.

[Lovinglifestyle]

If you manage to get to the Folio Trading Platform, the Sell Notes button is under the top blue heading bar, the 4th in gray from the left.

There is a Portfolio selection choice drop down menu on the Sell Notes page.

Can't answer the other question.  Can you sell notes on Prosper at all now?  I thought not.  Maybe I missed something recently.

This is where I found the above:  www.lendingclub.com/foliofn/tradingAccount.action

Edit P.S.  I also just found a Sell Notes button from the Holdings page by clicking on the Note ID for a loan.  On the ID page, it's near the top right, in blue on the line where the account number is. 

I don't care now.  I'm out.  Nothing but eliminating  charge-offs would bring me back.  I can live with the federal rates now.

[AnilG]

This is very typical of when a new CTO comes in to a business and may bring a new technical team. CTO need to show some results in first 100 days. They are typically clueless of business operations, issues, and how to improve technically that may be accretive to business in first 100 days. So, easiest way to show they are doing something is to redo existing features/functionalities in their favorite language, framework, technology, and products. LC CTO is right now on schedule with his 100 days goals of mucking with existing stuff instead of doing anything that will be productive for business.

LC is just following in the footsteps of Prosper who "improved" their website quite some time ago.
Yet nobody was complaining nor thought LC would spend money to "improve" the retail lender's experience.
This page may be the first of many "improvements" to come. Guess we will see.

[AcaciaRose]

The discussion in this topic is the only place I've found where the new user interface is being discussed. I'm surprised LC doesn't respect its investors enough to email us or at least post an explanation of the changes on their official blog.

[mrwhizzard]

I did complain to LC about it, and got a more or less canned response. Basically, they know that there are issues with the new interface, but they didn't care enough to fix them before rolling it out... Yay.

The recent changes we made to our Holdings page is part of a continuous effort to improve our investor experience. We are taking your assessment and using it to make the appropriate adjustments to design the most functional website for our clients.

Unfortunately, this update has caused an issue with assigning Notes to portfolios. Our engineering team is aware of this issue and are planning to update the page mid to late July. I appreciate your patience and apologize for the inconvenience this has caused.

We've made many updates in the past year and a lot of these changes and improvements could not have been successful without your feedback. We hope to continue on our path to improving investor experience and as you can see, there is bound to be some trial and error.

Here's a quick summary of our recent updates as well as some changes we hope to be able to bring to our investors in the near future:

• Multi-factor Authentication
• F&G update
• 5th Generation Credit Model

I hope you continue on this journey with us as we work together to make this a better experience overall.

Thanks again for your help!

[Reginald]

It seems that every week different features of their web site have stopped working.

For example,  the statistics page https://www.lendingclub.com/info/statistics-performance.action
has not worked for a long time.

Also it has become much more unwieldy to examine your chargeoff's from the "My Notes at a Glance" section if you click on the number of charge-offs, it will dump you in a general holdings page that shows all statuses. If you click on the status column you then have to pull down a menu and select charge-offs. This is about 4 extra interactions and a whole lot of web traffic to execute a simple query.  I dont think they test their web site with real data or they would notice all the web-page timeouts.

Terrible engineering. Terrible underwriting. Dubious accounting. 

[AcaciaRose]

mrwhizzard, thank you. I emailed LC early Thursday morning and haven't heard anything except the automatic "thank you for contacting us" response. 

At least they're working on the portfolios issue. Too bad they didn't ask active investors to test the Holdings screen before they rolled it out. 

[Fred93]

For example,  the statistics page https://www.lendingclub.com/info/statistics-performance.action
has not worked for a long time.

It works for me.  That chart has a lot of data points in it, and the chart is created IN your browser, so it takes a lot of browser resources, and takes a long time to display.  Other than that, works fine.

[kib]

I called again this morning as my unassigned notes are starting to pile up and it's basically impossible to find them using the details screen.  Rep directed me to portfolio screen which states in tiny font that I have 13 unassigned notes.  The 13 is blue, so I'm supposed to know to click on that to bring them up.  Ah, of course. I can see why this is in eight point type hidden on the second page because this is so much less important than


A GIGANTIC USELESS PIE CHART IN THE MIDDLE OF MY DATA.


Seriously, if anyone's listening, pie charts are for selling things and broad overviews.  Useless for real time feedback or precise management.

13, when I clicked on it, sent me back to the useless details screen listing all 1000+ notes.  oops.

After putting me on hold for a few minutes, rep came back with the word: there's a bug and they're working on fixing it.  Really?   How fascinating!  Are they really working on it, or are they just trying to find a way to insert a sparkly heart and a smiley face in my chargeoff screen? (Must say rep was awesome and apparently just as unhappy with the new layout as the customers.)

While I'm at it, if they're redecorating the entire ballroom, why not put note portfolio assignment functions on the PORTFOLIO PAGE instead of the note listing page?

 I didn't inquire about any of the other problems as I don't use those features, but I'm guessing there's a bug they're working on to fix those too.  Or maybe, I've just spent more time and effort creating this post than anyone's directed toward making a viable website.

[storm]

@kib If anyone important at LC is reading this thread, I think you made your point brilliantly.   

[Fred93]

Seriously, I don't think anyone from LC ever reads this forum.

I forward things from here to them from time to time, and they always react as if it is new info.

[arcee49]

Seriously, I don't think anyone from LC ever reads this forum.

I forward things from here to them from time to time, and they always react as if it is new info.

I sent another complaint to them about their terrible new website and linked this thread.  I'm sure they don't read it, too.

[arcee49]

Seriously, I don't think anyone from LC ever reads this forum.

I forward things from here to them from time to time, and they always react as if it is new info.

I sent another complaint to them about their terrible new website and linked this thread.  I'm sure they don't read it, too.

I actually got a call (couldn't take it) and an email from LC.  Here's their response:

Thank you for reaching out to us.

I actually just left you a voicemail and would love to hear from you directly. LendingClub takes very seriously the thoughts and suggestions from investors, including those expressed to us from outlets such as the Lend Academy forum you referenced.

Many of us felt the same way about the loss of a lot of the features that were removed from the Holdings page, including upper management. As a result, we hope to restore many of these features very soon. I can't give an exact time frame, but our engineering team has been forwarded much of the feedback from investors on this particular issue and plan to put many of them back. I'm not sure if you noticed but the download Notes feature was restored and we are actively working to restore others now and will continue to do so over the coming weeks, so be sure to keep a look out on the site.

Again, I would love the opportunity to take your feedback personally over the phone so please feel free to give me a call directly at the number below or we can set up a time to chat over email.

Thank you for your business and please keep the feedback coming!

Best,


–––––––––––––––––––––––––––––––––––––––
Lindsey Walters
Retail Sales Consultant, Investor Services

LendingClub
p 415.767.7344
LendingClub.com