I have notice on average I have 5% of notes in not yet issued status. For example right now I have some notes submitted beginning of April but still in review status. Do you guys observe the same thing? This would be very bad for return since it means I have 5% cash idled.
My Note Yet Issued are at 4.7% but have been on a buying spree for a couple months.
My Paid Off are 7.5%. Better than notes going late/default/charge off but higher than I'd like.
When you're ramping up, it is painful. In steady state you may get down below 2% of $ pending. It varies depending on your style, term of loans you invest in, what fraction fail to issue (causing $ to be uninvested longer), what fraction prepay (causing you to recycle money faster), etc.
Thanks guys for the comment. I suppose through historical data we can find out time to issue by list_d and issue_d field. What about those failed to issue ones? Are they in the historical file as well?
No, loans that do not issue are not in the historical files. Also, list_d is, in programming terms, is "deprecated". See
http://kb.lendingclub.com/siteupdates/articles/Site_Updates/Recent-and-upcoming-changes-to-the-downloadable-data-files-and-API-services/?l=en_US&fs=Search&pn=1. Use OrderDate instead.
I keep tabs on how long notes take to issue (automated, of course). Over the past 1 year, the average by month varies between 6 and 8 days. Approximately 75% of the loans that I have submitted over the past year have been issued. Currently, my "Not Yet Issued" stands at ~3.5% (total issued notes of 1410).