Skip to main content

Author Topic: Funded Amount?

s
  • Posts: 27
Funded Amount?
OP: November 28, 2014, 12:00:00 AM
I am trying to understand how newly listed notes could have the majority of the loan fully funded immediately after being listed?  I poll the API every second  (abiding by the 1 second rule) until new notes are listed.  However, many of the notes are significantly funded before doing any note selection/processing.  Is there some sort of "pre" funding that happens before being listed?  Or is it that the 1 second between API calls allows the notes to be funded by others before I have a chance? 

For example, today at 14:00:15 PST, the following notes (I added funding percent column) were downloaded after a 1 second interval polling of the API:

loanId   loanAmount   fundedAmount   Funded Percent
35743454   20825   10700   51.38%
35813760   4000   850   21.25%
35853954   9000   3950   43.89%
35949631   10800   4775   44.21%
35959506   12000   5275   43.96%
35959805   35000   25225   72.07%
35989872   5000   950   19.00%
36069520   21000   25   0.12%
36149280   8000   3500   43.75%
36200923   12000   2275   18.96%
36200974   9000   1700   18.89%
36210774   19725   13350   67.68%
36210926   11200   4200   37.50%
36210946   20000   8800   44.00%
36230840   10525   9875   93.82%
36230843   24125   10600   43.94%
36230868   13000   6150   47.31%
36230875   20000   3800   19.00%
36240881   6000   2625   43.75%
36250824   6000   4450   74.17%
36250832   7000   3075   43.93%
36250844   15000   6525   43.50%
36250846   6000   4400   73.33%
36250877   16000   7025   43.91%
36260287   12000   5275   43.96%
36260875   8000   3925   49.06%
36260887   3000   550   18.33%
36260888   22200   10450   47.07%
36270336   35000   15400   44.00%
36270903   8000   1500   18.75%
36270915   12000   5450   45.42%
36270925   15250   10225   67.05%
36270939   24000   4600   19.17%
36270951   3600   775   21.53%
36270953   15000   3325   22.17%
36280857   16750   7350   43.88%
36280863   35000   15400   44.00%
36280931   10000   5200   52.00%
36290825   12000   9900   82.50%
36290857   28000   5300   18.93%
36300679   10750   2975   27.67%
36300902   5600   1075   19.20%
36310256   14975   6300   42.07%
36320975   8000   3850   48.13%
36320984   25000   16725   66.90%
36320991   15000   6600   44.00%
36321013   8000   3650   45.63%
36321019   4300   925   21.51%
36330875   35000   15575   44.50%
36330879   25000   11025   44.10%
36340818   3000   650   21.67%
36340845   10000   5200   52.00%
36340846   13000   6075   46.73%
36350774   8200   3600   43.90%
36350798   35000   6650   19.00%
36350828   18000   7900   43.89%
36360868   35000   14750   42.14%
36370806   10000   8075   80.75%
36370854   10000   7500   75.00%
36380435   3500   1525   43.57%
36390884   17000   8975   52.79%
36400855   10000   4400   44.00%
36400882   35000   15400   44.00%
36410908   20600   9050   43.93%
36410950   28000   26500   94.64%
36410952   10000   4825   48.25%
36410956   15000   7475   49.83%
36410970   20000   3825   19.13%
36420844   5325   4000   75.12%
36420861   6000   1125   18.75%
36420882   3000   1300   43.33%
36420883   7800   1800   23.08%
36440697   15000   6625   44.17%
36440852   6775   4750   70.11%
36440868   20000   8850   44.25%
36450498   16800   4750   28.27%
36450502   7500   3300   44.00%
36490418   5000   950   19.00%
36490419   28000   21500   76.79%
36490430   21000   10350   49.29%
36490438   13000   3050   23.46%
36490441   3500   3325   95.00%
  • IP logged

M
  • Posts: 34
Funded Amount?
#1: November 28, 2014, 12:00:00 AM
I suspect that new loans appear first on the website and several seconds later show up on the API. This would allow lenders using the website to see the new listings slightly before lenders using the API.
  • IP logged

L
  • Posts: 241
Funded Amount?
#2: November 28, 2014, 12:00:00 AM
I'm amazed at how many have jumped straight to closing in the time it takes me to make 4 clicks to get to the View Order page.
Glad you asked the question about 1 sec. or pre-funding.  Seems to me some awesome automatic purchasing is going on, or maybe some whole loan remainders join the group at feeding time? 
  • IP logged

G

GS

  • Posts: 87
Funded Amount?
#3: November 29, 2014, 12:00:00 AM
Could it be that LC's "Automatic Investing" gets to fund at the exact instance the loans go live?  Or even "prefund" the loans?
  • IP logged

  • *****
  • Hero Member
  • Posts: 601
Funded Amount?
#4: November 29, 2014, 12:00:00 AM
  • IP logged

T
  • Posts: 6588
Funded Amount?
#5: November 29, 2014, 12:00:00 AM
  • IP logged

T
  • Posts: 6588
Funded Amount?
#6: November 30, 2014, 12:00:00 AM
SocialLender, I'm seeing the exact same thing. New listings are getting filled extremely quickly after they hit the website - a good chunk of them are filled before they ever appear in the API. There seems to be a 4-6 second gap between when new listings show up on the website and when they first appear in the API. It's not much, but might be enough for a very large investor to add them to an order manually and take them down.


  • IP logged

t
  • Posts: 82
Funded Amount?
#7: November 30, 2014, 12:00:00 AM
  • IP logged

F
  • Posts: 282
Funded Amount?
#8: November 30, 2014, 12:00:00 AM
As you might already know, LC investors can invest in loans in one of the following channels:
1. whole-loans
2. notes
3. certificates

Since we can eliminate the first 2, the only remaining suspect would be that the notes were purchased by LC Advisors (LCA) as trust certificates. The Trust certificates are settled with cash flows from underlying loans in a manner similar to the notes.
  • IP logged

H
  • Posts: 33
Funded Amount?
#9: November 30, 2014, 12:00:00 AM
as an investor through both LC Advisors and as an individual investing directly I have recently decided that it is much easier to continue through LC Advisors. I had attempted to beat the returns provided through LC Advisors by using my own filtering systems but lately it has become impossible to overcome the cash drag due to the inability to find enough notes meeting my filter criteria to keep me fully invested.
I have begun to request withdrawals from my individual account which i am sending into LC Advisors.
It appears that High Frequency Investing has overtaken P2P lending just as High Frequency Trading has overtaken trading of every other capital asset. it was fun while it lasted but the time has come to start looking for the next niche. Good luck to all
  • IP logged

T
  • Posts: 6588
Funded Amount?
#10: November 30, 2014, 12:00:00 AM
  • IP logged

T
  • Posts: 6588
Funded Amount?
#11: November 30, 2014, 12:00:00 AM
  • IP logged

T
  • Posts: 6588
Funded Amount?
#12: November 30, 2014, 12:00:00 AM
  • IP logged

T
  • Posts: 6588
Funded Amount?
#13: November 30, 2014, 12:00:00 AM
Per LC 10-Q:

Quote
  • IP logged

T
  • Posts: 6588
Funded Amount?
#14: November 30, 2014, 12:00:00 AM
  • IP logged