P2P Lending / NFT Lending Forum

I am a bit surprised that the Profit Maximizer (top 5%; D-F) picks some loans with recent (e.g. <= 24 months) "Months Since Last Major Derogatory" or loans with several thousand $ (e.g. $6K) in current "Delinquent Amount".

I would expect that those borrowers would not be as reliable as others?
Is it possible to automatically filter out those loans somehow?
I haven't tried BlueVestment yet, but can a filter be applied to P2P picks?

It is possible to download your Lending Club statements to Excel format by following the steps below:

•   Log in to your Lending Club account
•   Click on "Statements"
•   Once you're on the "Statements" page, please paste the following link into your web browser's address bar: https://www.lendingclub.com/account/lenderDocuments.action?display=42" class="bbc_link" target="_blank">https://www.lendingclub.com/account/lenderDocuments.action?display=42

Once you have completed the steps above and you select a statement, there will be an "Excel Version" link to download your statement in Excel format.

I have a lot of questions, comments and suggestions about PLS, but thought that I would start with the most 'trivial' issue first and I have some questions about 3 related buttons:

1.  "Browse Notes".
A. "Lending Club Notes" Window Closed:  The log shows that the notes are downloaded and the "Lending Club Notes" window opens up showing the Notes (as expected).

B. "Lending Club Notes" window Open: In this case, I get an error message "Please Close the Open Filter Window". I do not have any open filter windows!? I assume the message should say "Please Close the Lending Club Notes Window"? Why can't I update the notes with this window open? I now have to close it each time before updating.

2. "Start Service"
A. "Lending Club Notes" Window Closed: Looking at the Log, it also appears to download the Notes, but the  "Lending Club Notes" window doesn't open up. Note that the log shows two additional steps when using the "Start Service" button vs "Browse Notes": i) "Filtered xx of yy available loans"  and ii) Submit Order (or "submit order is disabled per configuration" as in my case). I assume that the filter step is accidentally left out of the "Browse Notes" log??

B. "Lending Club Notes" Window Open: In this case, the Notes are not updated in the "Lending Club Notes" window.  Furthermore the last two entries  i) "Filtered xx of yy available loans" and  ii) Submit Order (or "submit order is disabled per configuration" as in my case) are missing from the log.  Doesn't the service work if this window is open?

Also, what is the point of running the Service if "submit order is disabled"? It doesn't seem to do anything useful?

3. "Set Scheduled Service".  Instead of having to manually click on the "Browse Notes" button, I would like to use the "Scheduled Service" to automatically download the new notes when they become available. However, this is currently not possible w/o automatic investing; I get an error "Submit order must be set to yes..."  Note that if I close this window with the' X' rather than 'OK', the scheduler opens anyway!?

In summary, I would like to have the following functionality:
1.   Pressing the "Browse Notes" button should only open the "LC Notes" window and show the Notes from the last download (or update from a Service run).  An "Update" button on this window would download the current notes.  I should also be able to use the Scheduler to automatically refresh this window (in particular to use the feature to only download immediately following an increase in available note count)
2.   If "submit order is disabled" the "start Service" button should be grayed out (because it wouldn't do anything useful – unless I am missing something?).

If indeed LC/FolioFn now considers FolioFn sales as IRA distributions shouldn't a 1099-R have been generated by now?

Has anyone with an IRA, who sold notes on FolioFn in 2013, received a 2013 distribution form (1099-R)?

BTW, who would be responsible for generating such a 1099-R; LC or FolioFn?

It is difficult to try to draw any conclusions from this thread; Does the sell of notes in the IRA account result in a distribution (and do the proceeds constitute a contribution)?

Did I miss it, or did anyone with an IRA trade on Folio last year? If so, did they get any distribution and/or contribution tax forms?

I would be surprised if no one here with an IRA account traded on Folio?

https://forum.lendacademy.com/index.php?topic=1840.msg15269#msg15269">Quote"> from: core on December 06, 2013, 10:52:56 AM

It is often confusing when comparing the information in the Browse notes file, LC web site and info on IR. Take loan ID 7339187 for example:
BrowseNotes.csv:
emp_title = Self
emp_status = Employed

LC Website
Current Employer = Self
---

Interest Radar Loan Info
Employer = N/A
Employment Status = Employed

I would like to avoid unemployed borrowers (previously filtering out Employer = N/A), but from the Browse file it appears that the borrower is employed!? However, the title"Self" makes me think otherwise. I wonder how IR determines Employer=N/A unless it is an error?

https://forum.lendacademy.com/index.php?topic=1583.msg12541#msg88888888Quote"> from: Zach on September 17, 2013, 05:27:58 PM

Still no new loans at 10:25 AM (PST)  https://forum.lendacademy.com/Smileys/default/sad.gif" alt=":(" title="Sad" class="smiley" />.
Oh well, maybe twice as many at 2 PM  https://forum.lendacademy.com/Smileys/default/cheesy.gif" alt=":D" title="Cheesy" class="smiley" />.

https://forum.lendacademy.com/index.php?topic=1507.msg11656#msg11656">Quote"> from: AmCap on August 30, 2013, 06:57:06 PM

One of the most popular sites that is using an API to capture Lending Club's loans is Interest Radar (IR). However, it appears that many loans are already gone by the time IR is able to display them on their website.

Here is an example of the number of available E-G loans on LC's (blue) and IR's (red) websites as they were released on 8/26/13 at 2 PM (each data point is spaced 4-5 sec apart):
https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Fwww.lendacademy.com%2Fforum%2Findex.php%3Faction%3Ddlattach%3Btopic%3D1507.0%3Battach%3D343&hash=39033a32808c9427c356f59024a0e38d" alt="" class="bbc_img" />

Only about half the the number of LC's loans were available on IR when they were first posted.
The graph also shows that there were several "new" loans released throughout the 14 min period after the initial spike (possibly from loans released from holds in the shopping carts). Many of these loans were not detected by IR because the available loans are only captured at intervals.

I am guessing (but I don't know), that the Auto-buy on IR would use loans from the same pool as shown on IR's website and many LC loans may therefore not be purchased. Furthermore, I believe that the Auto-buy is only executed once, so the "new" loans may not be purchased? Rev??

It would be interesting to know if the other Auto-buy sites are also lagging LC's website (I would presume that they do!)?  I suspect that LC is releasing the loans on their website before the data is even available to the API? Is that possible...?


UPDATED 9/18/13. Because of a post by Rev today (http://www.lendacademy.com/forum/index.php?topic=1583.msg12564#msg12564" class="bbc_link" target="_blank">http://www.lendacademy.com/forum/index.php?topic=1583.msg12564#msg12564), I compared the number of available loans on LC and IR again (9/18/13 at 2 PM); IR's posting time is now much improved! Thanks, Rev!
https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Fwww.lendacademy.com%2Fforum%2Findex.php%3Faction%3Ddlattach%3Btopic%3D1507.0%3Battach%3D362&hash=010d3a122ed22478c7d7643fb03b2534" alt="" class="bbc_img" />


[attachment deleted by admin]

https://forum.lendacademy.com/index.php?topic=1506.msg11594#msg11594">Quote"> from: AnilG on August 30, 2013, 12:21:24 AM

Like has also been discussed here http://www.lendacademy.com/forum/index.php?topic=1453.msg10746#msg10746" class="bbc_link" target="_blank">http://www.lendacademy.com/forum/index.php?topic=1453.msg10746#msg10746,
I have noticed that loans may be unavailable (i.e. 100% funded) a few seconds after posting but a few minutes later they may become available again after someone release their hold on the loan.

Does IR try to Auto-Invest in a loan more than once? In other words, if the loan is fully funded at the first attempt, is there a second (or more) attempt later?

You can use a free Macro add-on such as iMacros (for FF, IE & Chrome) and create a simple Macro to "automatically" download the file. The CSV file can then be opened in Excel.

When the loans show up on IR many are already fully funded or close to be being fully funded. It has become very difficult for me to invest in the last few days.
Currently, how frequent does the API check for new loans around the posting times and at other times?

The new Prosper Terms of Use prohibit users from querying the API more than 20 times per second. What is the LC Terms of Use maximum?