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Messages - avid investor

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1
Investors - LC / Post-News IRA Strategy
« on: October 15, 2020, 11:00:00 PM »
I actually stopped investing in LC notes about 9 months ago.  The return wasn't worth the risk anymore to me.  So, we've been "withdrawing" the cash from our two LC IRA accounts, and rolling it over from STRATA to our Schwab Rollover IRA accounts.  It works, but it takes a couple of weeks and STRATA charges $50 each time, so I have been waiting until the LC IRA account has over $10,000 cash and then I withdraw it to STRATA and let them take their fee.  I don't want to pay $50 for ever $1000 withdrawn, and I don't want tens of thousands of dollars accruing in cash in LC, earning nothing.  So, $10,000 increments seemed about right.
Also, I didn't want to leave cash in LC if they are going through such big changes.  I just don't trust them that much.
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Investors - LC / Is the API Done?
« on: October 15, 2020, 11:00:00 PM »
My REST API procedures are getting the "Forbidden" response as of today.  Have they shut this down, too?  Anybody else have it still working?
3
Investors - LC /
« on: February 14, 2020, 12:00:00 AM »
I've been investing in LC notes since 2008.  I used to post on here a lot, but not in recent years. 
We've all seen the changes, downturn of ROI (mostly due to increase in write offs), paucity of notes to invest in, etc.

I'm at a crossroads, having fine-tuned my investments through the API to the most conservative based on my criteria, and seeing something of a rebound in my ROI.  On the other hand, I have over $11,000 in sideline cash since there are so few notes available.  It used to be an October through December problem, but here we are in February and there's still nothing to buy.  69 notes available this morning, all dogs.

I'd like to hear from my fellow investors on what they are seeing for ROI.  I can't trust LC's ROI % calculations.  Not when I look at my LC IRA accounts (which have had no cash added or subtracted for years).  That ROI is pretty simple to calculate.  How much has the account grown in 1 year?  That's the ROI % with no cash added or subtracted from the account.  That calculation never comes up to their number.
4
Investors - LC / Note Aging Algorithm
« on: January 23, 2018, 12:00:00 AM »
Does anybody have a reasonably good note aging algorithm that they want to share?  The "31 - 120" that LC provides is virtually meaningless as a predictor of near-term losses.  I'm not looking for 100% accuracy, but I realize that payments to date / months since origination is not a good way to go because borrowers might have been paid way ahead months back and yet have not paid in 3 months.  Similarly, a borrower that is on a payment plan to catch up might be harder to factor in.
5
Investors - LC / Withdraw some funds from Lending Club IRA account
« on: August 09, 2017, 11:00:00 PM »
I have done this multiple times, and the process is infuriating.  When sending IRA funds back to my Schwab IRA, I complete Schwab's form, and upload it to Schwab, as SDIRA has told me that they can't push the funds, Schwab has to pull them.  Fine.  Then I spend WEEKS waiting for the transfer to complete.  Even though I hound both sides of the transfer, they just point fingers at each other saying it is "their" fault for the delay.

Then, for the "privilege" of such poor service, I get a $50 fee from SDIRA for processing the disbursement.  Nice.
6
Investors - LC / Email from Lending Club
« on: June 01, 2016, 11:00:00 PM »
I got it, too.  Could easily have been triggered by my changed behavior.  I have turned off all 5 of my daily auto-investing cron jobs, which invest in all 4 accounts.  Haven't invested for at least a week.
7
Investors - LC / Lending Club New Product?
« on: April 14, 2016, 11:00:00 PM »
Why would they touch auto loans?  I am still seeing 2% on car loans.  How bad a risk would a debtor have to be before you would be able to get a decent return as an investor?  I don't think I would touch them.
9
Investors - LC / Worst Month Yet
« on: December 04, 2015, 12:00:00 AM »
I wouldn't sweat it.  I have had poor months and great months (just coming off a great one, FYI). and there is a certain "luck of the draw" all of the time.  Keep in mind that I invest electronically through the API, so there are "no poor choices" made manually in my investments.  The software looks at the filters and model and makes the choices.  As a result, I can say that these things do occur as a part of the random selection, but let's face it.  Investing in LC notes is for the long haul.  Anybody that invests $1000 in hopes of having an extra $100 a year later and not reinvesting it would have to be crazy.  The real return is in compounding your returns.  Have a glass of holiday cheer and let it ride.  I've been in for 5 years now - very happy with my returns.
10
Investors - LC / Quick Overview of Folio Strategies?
« on: October 18, 2015, 11:00:00 PM »
Hi all.  I have never traded on the Folio platform.  Frankly, I'm not sure of the typical expectation for selling notes on that platform.

Hi understand selling under-performing notes.  Buyers willing to buy them are going to discount their current value in hopes that the borrower will pay them off and the investor will get a large payday. 

For well-performing notes, what is a reasonable expectation for the sale price?  For example, if you have a $100 original note at 16% with a $90 balance, no late pmts, etc., what would a fair price typically be for this note that has 4 years to go?

Any help understanding the typical "sell" strategy would be appreciated.

Thanks!
11
There are multiple flavors of this.    For example, a debtor can indicate that they don't want any calls at work.  (Face it, it is embarrassing and you could face job loss.)

Just because communication may have been halted, that doesn't mean that collection efforts cease.  There can still be judgments, etc.  Even for those debtors that are really trying to right their financial ship, it can take time.  Getting phone calls every few days just adds more stress.  I've seen these situations turn around.
12
Investors - LC /
« on: March 03, 2015, 12:00:00 AM »
Anyone else having this problem?  It seems to happen erratically but somewhat regularly.
13
Investors - LC / Recovery payments in API: where do they show
« on: February 24, 2015, 12:00:00 AM »
True, there are no payments in the API.  I haven't done this, but you might look at the charged off note for a "before and after" of balance and payments to date.  Of course, this would require that you keep the note history (I do), since LC only gives you an account snapshot as of the time of query.  It would also require you to look on the browser platform, find the details of the recovery in your account history, and then with the note ID identified go back and look at the history of the account "snapshots" that you stored over time.  Hopefully, you will see that the balance went down and payments went up by the amount of the recovery (less fees, etc.).
14
Investors - LC / LC Business Loans
« on: February 11, 2015, 12:00:00 AM »
Are LC's business loans (up to $300k) also unsecured loans?
15
Investors - LC / LC lowers rates gain
« on: February 06, 2015, 12:00:00 AM »
I get the complaint about lower rates and lower yields for the retail investor.  Still, LC is in a sweet spot for me between low-return CD's (don't have any) and my wild ride in equities (which lost 5-digits in January and already made back 5-digits in February).  At least LC is not that volatile and still produces a respectable return.
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