https://forum.lendacademy.com/index.php?topic=2189.msg19585#msg19585">Quote"> from: Fred93 on May 02, 2014, 10:37:00 PM
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#2
Investors - LC / Thought Experiment for Folio Traders
April 29, 2014, 11:00:00 PM
I think that more information would lead to more efficient markets. New traders would start utilizing new/existing strategies, increasing buy-side competition. As a result of this competition, trading profits would go down substantially since sellers would get much better prices for notes (assuming they knew how to properly price them in the first place).
In the long run, however, the market will probably end up worse off. If us traders don't make any money, we won't have any incentive to provide liquidity. Without liquidity, there is no market. As much as Lending Club hates us, we are a "necessary evil". Who else is going to purchase your junk notes? Investors? I think not.
In the long run, however, the market will probably end up worse off. If us traders don't make any money, we won't have any incentive to provide liquidity. Without liquidity, there is no market. As much as Lending Club hates us, we are a "necessary evil". Who else is going to purchase your junk notes? Investors? I think not.
#3
Investors - LC / LC database sloppiness
April 23, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2248.msg19354#msg88888888Quote"> from: edward on April 23, 2014, 07:41:25 PM
#4
Investors - LC / LC accounting problems
April 23, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2249.msg19339#msg88888888Quote"> from: Fred93 on April 23, 2014, 01:22:11 PM
#5
Investors - LC / Where Lending Club Fails Borrowers
April 23, 2014, 11:00:00 PM
https://www.lendingclub.com/account/loanPerf.action?loan_id=2295003&order_id=13956945¬e_id=16160563" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanPerf.action?loan_id=2295003&order_id=13956945¬e_id=16160563
The borrower negotiated a payment plan on 11/22/2013, made every payment on time as agreed, then was automatically charged-off because that agreed-upon payment amount wasn't high enough to keep it from going 120 days past due. I have several other notes like this, including these two from the recent batch of charge-offs:
https://www.lendingclub.com/account/loanPerf.action?loan_id=3034655&order_id=13270819¬e_id=17904540" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanPerf.action?loan_id=3034655&order_id=13270819¬e_id=17904540
https://www.lendingclub.com/account/loanPerf.action?loan_id=5825282&order_id=21394555¬e_id=25699798" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanPerf.action?loan_id=5825282&order_id=21394555¬e_id=25699798
I don't mind if Lending Club charges off a note that hasn't paid in 5 months. But when the borrower has been making recent payments, even if it's lower than the standard amount, they shouldn't be charged off. No other major lender or credit card company would charge off a borrower who is still actively trying to make good on their debt. It's utter farce.
The borrower negotiated a payment plan on 11/22/2013, made every payment on time as agreed, then was automatically charged-off because that agreed-upon payment amount wasn't high enough to keep it from going 120 days past due. I have several other notes like this, including these two from the recent batch of charge-offs:
https://www.lendingclub.com/account/loanPerf.action?loan_id=3034655&order_id=13270819¬e_id=17904540" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanPerf.action?loan_id=3034655&order_id=13270819¬e_id=17904540
https://www.lendingclub.com/account/loanPerf.action?loan_id=5825282&order_id=21394555¬e_id=25699798" class="bbc_link" target="_blank">https://www.lendingclub.com/account/loanPerf.action?loan_id=5825282&order_id=21394555¬e_id=25699798
I don't mind if Lending Club charges off a note that hasn't paid in 5 months. But when the borrower has been making recent payments, even if it's lower than the standard amount, they shouldn't be charged off. No other major lender or credit card company would charge off a borrower who is still actively trying to make good on their debt. It's utter farce.
#6
Investors - LC / Value of previously late notes
April 21, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2243.msg19259#msg88888888Quote"> from: joshmer on April 20, 2014, 05:52:35 PM
#7
Investors - LC / Give up some numbers.
April 21, 2014, 11:00:00 PM
In Funding 11
Issued & Current 178
In Grace Period 52
Fully Paid 48
Late 16 - 30 Days 18
Late 31 - 120 Days 738
Default 51
Charged Off 298
NAR: -40.47%
Issued & Current 178
In Grace Period 52
Fully Paid 48
Late 16 - 30 Days 18
Late 31 - 120 Days 738
Default 51
Charged Off 298
NAR: -40.47%
#8
Investors - LC / More Hand Holding!
April 16, 2014, 11:00:00 PM
Anyone notice this on your notes?
https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Fi61.tinypic.com%2F28tus13.png&hash=e73ab53009e25861e6901235adb84d85" alt="" class="bbc_img" />
My favorite part is that https://www.lendingclub.com/account/loanPerf.action?loan_id=2224788&order_id=13785803¬e_id=15934914" class="bbc_link" target="_blank">the note I took that picture from was last updated on March 64, 2014...https://forum.lendacademy.com/Smileys/default/shocked.gif" alt=":o" title="Shocked" class="smiley" />
My favorite part is that https://www.lendingclub.com/account/loanPerf.action?loan_id=2224788&order_id=13785803¬e_id=15934914" class="bbc_link" target="_blank">the note I took that picture from was last updated on March 64, 2014...
#9
Foliofn - LC / Folio API
April 16, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2231.msg19178#msg88888888Quote"> from: Jmar42 on April 16, 2014, 11:14:44 PM
#10
Investors - LC / what am I missing on this note?
April 14, 2014, 11:00:00 PM
Good question. It's probably a fluke, where it doesn't fall in most people's filters.
#11
Investing - General (not P2P) /
April 10, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2220.msg19021#msg88888888Quote"> from: rajuabju on April 10, 2014, 08:02:24 PM
#12
Investors - LC /
March 23, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2168.msg18553#msg88888888Quote"> from: Emmanuel on March 21, 2014, 11:14:14 AM
#13
FolioFN - Prosper / First
March 10, 2014, 11:00:00 PM
Had to do it. https://forum.lendacademy.com/Smileys/default/wink.gif" alt=";)" title="Wink" class="smiley" />
On a more serious note, how many of you actively purchase notes on Prosper's secondary market?
On a more serious note, how many of you actively purchase notes on Prosper's secondary market?
#14
Investors - LC / Folio and IRAs
March 10, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2141.msg18147#msg88888888Quote"> from: twigster on March 11, 2014, 02:31:33 AM
#15
Borrowers - LC / In need of a short term loan
March 09, 2014, 11:00:00 PM
https://forum.lendacademy.com/index.php?topic=2138.msg18086#msg88888888Quote"> from: New Jersey Guy on March 09, 2014, 06:02:35 PM