P2P Lending / NFT Lending Forum

Is funding someone's breast enhancement any more narcissistic than funding the purchase of an expensive car or a swimming pool or a big weeding or getting the latest and greatest 4 wheeler? 

We had a discussion on the forum some years ago about medical expenses indicating an inability to work.  This might be the case, but there are other instances where having a procedure (sciatic nerve back surgery) may make someone more employable. . . it really depends on the procedure which of course we have no mechanism for knowing.

I'd say in general I don't fund medical categories as statistically at the grades of notes I look at, they don't perform well as well as the main categories I target.  (weddings and cars and vacations are usually off my list too).

johnh,

Just please be aware of the risk you are taking.  CDs and cash in savings accounts at banks are FDIC insured.  This investment vehicle isn't.  The default rate on the higher grade notes are very low, but the asset isn't liquid and it isn't backed by the feds.

edit: corrected the cash statement to be specific about which cash accounts are FDIC insured thanks seattle sun for pointing out the mistake.

Interest radar has some of that info, the difficulty is notes are just removed from the platform, but they can be removed for one of four reason:

• they expire after being listed for 6 or so days, this is an issue because the note never sold, so it will totally mess up your datat
• they were sold, but there isn't away to distinguish from above
• they were removed by the seller, wow I way over priced that note, let me relist it
• they were removed by LC for getting a payment, which you only know about if you were either the buyer or the seller

So really the only way to get this info is by trading on the platform and understanding what notes that are similar to the ones you are selling go for.

Core or NJG might chime in with better info as they are both master secondary market traders, but they are secondary market traders . . . so they might just tell you to list stuff really low https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" /> >really these guys are both savy traders, and they have been very willing to share some of their knowledge with the forum<

NJG had a really great post on peter's blog about trading on the secondary market.  I'd recommend it if you were looking for basic info.  Rev has some good stuff posted on how to use interestradar for secondary market trading on that part of the forum.  and there have been good discussions in the forum in the past about how to liquidate portfolios on the secondary market that might give you some strategies to test the market.

for myself . . . when I was trading, I tried to buy notes that I was fine holding onto, and then if I was trying to trade them, I put them at prices that i would be happy with the returns.

Good luck!!

ken from lend stats always talked about selling notes after 12 months usually the ones with good payment records would go for a bit of a bonus.  So if you were selecting loans that wouldn't default (or go late in the first 12 months, but might after that) would that change your selection criteria? https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />

Hey guys,

I saw this while reading through the news this morning:  http://www.lendingrobot.com" class="bbc_link" target="_blank">www.lendingrobot.com
I like IR, but I was wondering if anyone had heard about/used this site.  The encryption sounded good, but I'm not an encryption person so it might have all been fluff.

Peter have you covered this site on your blog?  I'm really kind of surprised that someone is out there offering services (for a fee) for LC and they aren't on this forum . . . is there another place for news.  Obviously I'm spending too much of my research time with Renton filtered content https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />.

Peter I do love your site!

Thanks!
megan

I think we talked about this on the forum before with Sarah.  I could trade on my account (Roth IRA) on folioFN, but she couldn't get a IRA account opened because they said she was in a folio only state and wouldn't be able to trade.

Hope that helps

Pharmacists
Engineers
Nurses

People in fields that have resiliency:
Petroleum, health care, etc
Trades especially those on the coasts (welder, pipe fitters, electricians, Iron workers)

Things that I would avoid:
Manufacturing jobs (unless they were extremely specialized)
Residential or commercial construction

But that's just from my personal work experience or family experience.  I'm sure there are others that you have experience with?

I actually prefer this to knowing the employer.  Employer's big or small lay people off and go out of business.  I think an individual's ability to bounce back from these setbacks based on what career field they choose.  In the last 10 years: I've been fired twice, Laid off twice because the plant was shutting down, changed companies for promotions 3 times, and worked as an independent contractor for a year making way more than I had working for a private company.  Any time I've sat down to look for work it normally takes 2-3 weeks for me to get multiple offers often at better pay than I had been making.

People don't work places for their whole career anymore.  Having a stable company is good, but is no guarantee of ongoing work.  I look at borrowers that can recover from job loss as a way better bet than those that work for big companies.

Waterman,

I wouldn't feel too bad about missing out on the first couple years of p2p, the returns were awful until the platform learned to appropriately price the risk of the notes.

https://www.lendingclub.com/account/loanDetail.action?loan_id=4144913" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanDetail.action?loan_id=4144913

" Borrower added on 04/04/13 > I like to pay off my truck lone $500.00 a mouth Persnell lone $168.00 credit card 200 to 150 ..And by a 3 acker lot that has a  septit and city water..$25000 good dill."
 - SODDY DAISY, TN

Really nice analysis Viking!  I'm glad to see that when I can check notes at night there's a higher likelihood of something being available.  Also really interesting that notes are getting published outside of the main 4 time slots.

Thanks!

So if you are wanting to invest in loans that wouldn't necessarily meet your data driven criteria, that's fine as long as you assume that there might be a higher risk of default.  There have been a couple loans that I invested in this way.  Some of them have worked out well, some haven't.  I find loan descriptions helpful, for providing insight into people's situations.  I really like it when they let it slip that they are using a "debt consolidation" loan to get their business off the ground.

RawRaw, I gotta admit I would be way more offended that you lied to me about who you were investing in than bored about the topic.  Of course I don't tend to pick up guys at the bar, and I like numbers.

On the whole prefer perfect grammar and spelling vs bad grammar question:
I find that many people who are looking for cash, and are good credit risks aren't necessarily people that use written language & keyboards on a daily basis (i.e. fire fighters, welders, electricians, doctors).  I have no problem lending to folks that aren't perfect spellers or that have poor sentence structure.  I actually get a little suspicious if the text feels too refined.

I have an IRA account and trade on the secondary market.

So I've noticed that there are loads more loans available >2000 today when I checked. I've also noticed that fewer of them are meeting my filter criteria.

I know that when LC first started releasing loans as whole notes to institutional investors it was something like 20% of the loans on the market.  I vaguely remember reading somewhere that that number has continued to go up over the last several months.  Has anyone done analysis to see if there is a quality difference in the loans being offered to institutional investors first as whole notes vs. those being offered to "the rest of us"?  I was just curious if the "good" notes, those likely to perform better than others in their interest rate block, were more likely to be offered to institutional investors first and if that was why so many more notes were staying longer on the platform. I'm not sure if my question makes sense, but it seems like there's a lot of notes that might be considered lower preforming that are staying on the platform longer.

So has this changed how people are selecting notes?

I haven't modified my filters at all, but I'm mostly just reinvesting at this point so having fewer notes to invest in isn't that bad of a thing.