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Messages - ee1x

#1
Investors - LC / Internal Server Errors
May 11, 2018, 11:00:00 PM
See attached screenshot. Anyone else getting a ton of Internal Server Errors in the last week or so? I'm a little worried.
#2
Investors - P / Whole Loan Program - Fair or Not?
June 04, 2013, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=942.msg7965#msg7965">Quote"> from: core on June 04, 2013, 09:57:06 AM
#3
I do technology consulting for financial companies.
#4
Agree with all of the above. I only have taxable accounts on both LC and Prosper right now but I am planning on opening some IRAs soon to get the additional benefits provided by those. I have to say it is nice to know that with a taxable account I can have immediate, no-penalty access to my cash flow if necessary.
#5
Investors - LC / Did payments not post today?
December 31, 1969, 06:00:00 PM
#6
Does anybody know if other companies might be venturing into this space soon?
#7
Investors - LC / LC Deposit Delay for New Money
April 29, 2013, 11:00:00 PM
I think what Prosper does is require you to have at least one note in your portfolio before they are willing to take on the risk. That way if the instant transaction fails for whatever reason they have some collateral in the form of your note(s).

It seems relatively safe so it doesn't quite make sense to me why LC doesn't offer this service as well.
#8
Suggestions / Private Investor Forum?
April 28, 2013, 11:00:00 PM
I like this idea but how will the minimum criteria be set? Can somebody buy a single $25 note and be considered an investor? How much activity should we see from them on this forum? How do we rate the quality of their posts?
#10
Wouldn't want to invest in gift cards personally. I hate receiving them, I hate giving them. Seems thoughtless. And with a 27 PE I think this is a highly speculative play.
#11
Confession: I have done this.

I don't think there's any way to really know when a borrower is doing such a thing, because of the credit bureau reporting lag. I'm far more of an investor than a borrower and so I would not be opposed to either 1) an industry-wide overhaul of the standard bureau reporting process or 2) some sort of cross-reporting agreement between Prosper and Lending Club to notify investors on the other platform of these "simultaneous borrowers". Otherwise I don't think there is really any way to identify situations like this.

Although now that you have me thinking about it, it probably wouldn't be too difficult to design a mechanism that checks for listings with similar credit profiles on the opposite platform. I'll look into doing this if it's something people would find useful...

Also as far as I know, once the money hits the borrower's bank account, as long as there is no fraud or other legal question surrounding the loan, it can't be reversed.
#13
Investors - LC / Certificate Investor
April 06, 2013, 11:00:00 PM
Should this type of agreement even be legal? I'm having a hard time understanding why LCA is still associated with LC at all... it makes just about as much sense as a hedge fund that's owned by a stock exchange. Too many potential conflicts of interest here.
#14
Investors - P / Whole Loan Program - Fair or Not?
April 04, 2013, 11:00:00 PM
I've been pondering the fairness of Prosper's new "whole loan" program, where a handful of loans are randomly selected and offered to institutional investors prior to public release. In this "pre-release" stage, investors can purchase the entire loan instead of being capped at a certain percentage. Here's what I understand so far:

  • Borrowers make initial loan requests.
  • For each batch of requests, RANDOMLY reserve a subset (now known as "W" or whole status) for institutional investors.
  • Release the remainder to all investors ("F" or fractional status, where each investor is capped at purchasing 75% of the loan).
  • Institutional investors are allowed to purchase whole "W" loans IF they choose to do so.
  • After x minutes/hours, release all remaining unpurchased "W" loans to the general pool of investors.

At a glance, the methodology appears to be fair. Selection is done randomly, so all participants have a fair shot at obtaining loans at every tier of quality.  But one is inclined to believe that institutional investors with large sums of money to invest will generally have some above-average level of skill in selecting these loans. If this assumption is true, then from a statistical standpoint, one should assume that the remainder after step 4 will consist of loans that are expected to have a below-market rate of return as the large investors will "cherry-pick" from the pool in an effort to beat the market. Releasing this remainder to the general pool in step 5 dilutes the quality level available to the wider pool of investors, resulting in some amount of statistical disadvantage (however small it may be) to smaller investors.

I don't have any hard numbers on this yet but I can't see how this new methodology would not result in some measurable degree of quality dilution over time.

Do you agree?
#15
Investors - P / Download My Notes
December 31, 1969, 06:00:00 PM
Unfortunately I don't think there's a simple way to do it like LC's notes.csv... your only options might be to either sift through the data download or do an API pull.