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Messages - storm

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Investors - LC / New Platform
« on: December 31, 1969, 07:00:00 PM »
As someone who's filed more than a few FTC complaints, it takes a lot of complaints to get the FTC to act.  It makes me think there is some basis to these charges.  The CFPB is toothless especially in the current political climate.  It goes to show LC has been suffering from a leadership vacuum the last couple of years, and management hasn't lifted a finger to improve things for borrowers or investors.  This action shouldn't have came as a complete surprise.
BlueVestment / Bluevestment Down Again
« on: February 24, 2018, 12:00:00 AM »
I just noticed Bluevestment hasn't auto-invested in any loans for me in the last 2 weeks.  Usually it finds a few loans each day.  I haven't changed any of my settings/filters, and I don't think LC has changed anything either.  Do I need to find another service?
Investors - LC / tax question: "worthless security"?
« on: February 09, 2018, 12:00:00 AM »
I don't think the IRS really cares about the dates as long as the amounts match what LC sent them.  You may be able to go to the form view and manually change the dates if you desire.

That said, I just enter the total sale price and cost basis and say the dates are various instead of listing each and every note.  Otherwise, my tax filing would be as big as a book.
Here is a week-old thread that explains the process:,4803.0.html

TL;DR Contact Lending Club for the proper form.  Lending Club will transfer the money to Strata (self-directed IRA custodian), and Strata will transfer it to the Roth IRA account of your choosing.
General Lending Club Discussion / LC Stock Down to $3.66 per Share
« on: December 31, 1969, 07:00:00 PM »
Maybe because us platform investors are taking a good look at our 1099s and shaking our heads at the ever increasing charge-offs and diminishing returns.
BlueVestment / BlueVestment server down?
« on: January 21, 2018, 12:00:00 AM »
Seems to be working ok at the moment.
Investors - LC / Worst Month Yet
« on: January 14, 2018, 12:00:00 AM »
Investors - LC /
« on: January 01, 2018, 12:00:00 AM »
Thank you, lascott, for crunching these numbers.  I hope you and everyone else here has a much happier new year!!!

Combined ANAR:  8.31%
Weighted Average Interest Rate:   15.00%
Weighted Average Age of Portfolio: 40.9 mos
Number of Notes: 6,768
A (0.0%) B (13.0%) C (44.0%) D (21.2%) E (17.2%) F *** (3.5%) G *** (1.0%)
Payments  36 (38.4%) 60 (61.6%)

vs All Accounts: 94.56%
vs Similar Age Accounts: 0.00
vs Similar Age and WAIR Accounts: 0.00

XIRR:  8.74%
XIRR trailing twelve months:  2.42%
Investors - LC / Tax question
« on: November 30, 2017, 12:00:00 AM »
Yes, it is investment interest earned in a savings account.  Charged off loans are treated as capital losses.  Capital gains/losses also apply to any traded loans.  You can deduct up to $3,000 in losses in a single year unless you have gains to offset it.  Anything over $3,000 can be rolled over into the next year.
Investors - LC / Dear LC
« on: November 15, 2017, 12:00:00 AM »
From where I'm sitting, LC needs to really improve their underwriting and collection efforts.  My last statement shows 58% of my YTD interest is negated by charge-offs.  I am well diversified in the middle grades.  I would rather have fewer quality low-interest loans to pick from than the garbage they are peddling now.  The ROI guidance is complete fiction.
Investors - LC /
« on: September 30, 2017, 11:00:00 PM »
Combined ANAR: 8.37%
Weighted Average Interest Rate:   15.05%
Weighted Average Age of Portfolio:   38.3 mos
Number of Notes:   6,657

Grades A (0.0%) B (11.2%) C (44.9%) D (22.0%) E (17.2%) F (3.6%) G (1.1%)
Payments  36 (36.6%) 60 (63.4%)

XIRR:  8.78%
Trailing 12 month (TTM) XIRR:  3.07%

Sold off a bunch of late loans and invested in a few new loans.
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