P2P Lending / NFT Lending Forum

Wow, why don't they at least send out an email about these types of changes instead of leaving us to figure it out.  https://forum.lendacademy.com/Smileys/default/angry.gif" alt=">:(" title="Angry" class="smiley" />   

https://forum.lendacademy.com/index.php?topic=1620.msg12898#msg88888888Quote"> from: core on September 27, 2013, 01:05:51 AM

Wow, WTF are they thinking.  https://forum.lendacademy.com/Smileys/default/angry.gif" alt=">:(" title="Angry" class="smiley" />. Employer is a huge piece of information while job title is virtually meaningless. If true I may stop investing on LC. Absolutely crazy how they treat their investors sometimes.

The first week or so is always the worst, probably for the reason you mentioned. This month is as bad as I've ever seen it though.

https://forum.lendacademy.com/index.php?topic=1374.msg10042#msg88888888Quote"> from: core on July 31, 2013, 01:32:53 PM

I've never had much of a problem with loans sticking around "in funding" for too long. You must be funding some really low quality loans if it's a big problem.

I HAVE had a huge problem with loan sticking around in review - approved" status too long. Someone else posted on here, and I think they're right about this, that LC slows down loan disbursements at the end of every month so they can hit a smooth origination growth figure. I have ~10 loans that have sat in approved status now for over a week. Funny how this seems to happen every month and they get issued on the first day of the next month.  https://forum.lendacademy.com/Smileys/default/angry.gif" alt=">:(" title="Angry" class="smiley" />

Just a low interest rate on the loan. There's nothing wrong with the loan itself which seems reasonably high quality. Personally, I don't do any loans with <13% interest rate, but I have a high risk appetite.

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A couple of things I notice that wouldn't pass my filters:

1) Debt / income > 100% - automatic disqualify

2) Amount requested < 50% of total debt - would never do such a loan if the stated purpose is for refinancing. To me this signifies a desperation loan - no intent to pay off the original debt just trying to keep their head above water.

3) credit card utilization > 95% - I've done a few of these but usually only at higher rates (E,F,G). Not worth the risk at 19% interest rate. In general I would pass regardless of the interest rate though.

4) DTI ratio > 30% - automatic disqualify


Also the income is pretty low, not below my cutoff but I'd be looking for a higher quality loan at that income level.

https://forum.lendacademy.com/index.php?topic=1321.msg9388#msg9388">Quote"> from: rawraw on July 17, 2013, 06:50:00 PM

You guys need to think of it from LC's perspective. They don't care if the "little guy", aka individual investors, fund loans or institutions do it. All they want is for the loans to get funded. LC has absolute zero incentive to set aside loans for individual investors, or stretch out the funding process any longer than the market requires. If LC could get every loan funded instantly by institutions they would go that route. In fact, I wouldn't be surprised at all if the platform were closed to individuals in a few years given that individuals are probably a bigger hassle to deal with.

60 month loans are generally more risky but carry a higher interest rate to both compensate for the yield curve differential (i.e. interest rate risk) as well as credit risk. From what I have seen, 60 month loans are slightly better on a risk-adjusted basis after considering both credit and rate risk. Also note that many of the higher risk loans effectively only come in the 60 month variety.

https://forum.lendacademy.com/index.php?topic=1321.msg9222#msg88888888Quote"> from: TonySaunders on July 15, 2013, 01:29:59 PM

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https://forum.lendacademy.com/index.php?topic=1253.msg8597#msg88888888Quote"> from: GS on June 27, 2013, 11:59:44 AM