P2P Lending / NFT Lending Forum

https://forum.lendacademy.com/index.php?topic=2764.msg24394#msg24394">Quote"> from: avid investor on November 06, 2014, 11:43:03 AM

If it was ID theft, then I would expect the full $25.00 to be credited, no?  The only way it would be for less is if there was a payment made on the loan.  Maybe I'm hanging out with the wrong kind of crooks, but the ID thieves I know don't usually start making payments on the victim's loan.  That kind of defeats the purpose.

OK, maybe some screwed up family member situation.  I can see that.

Nice.  This should discourage some of those pesky 3rd parties.  Which I assume is the "real" goal.

I cannot say that I am all that upset.

Unless some posts mysteriously disappeared, he didn't seem to ask for opinions on other stats software either.  If we are getting technical about who asked what.

https://forum.lendacademy.com/index.php?topic=2741.msg24193#msg88888888Quote"> from: avid investor on October 29, 2014, 05:23:31 PM

https://forum.lendacademy.com/index.php?topic=2734.msg24146#msg88888888Quote"> from: Lovinglifestyle on October 27, 2014, 08:49:20 PM

Doesn't LC's data ignore notes that were unloaded on Folio?  There are _lots_ of people who sell off notes before they default.

It seems to me such calculations just compare yourself against the lazy... those who can't be bothered to actively manage their accounts.  Therefore the results don't seem all that realistic.

By the way your calculator breaks if you enter >= 31 for the average age in months.

I would guess not an IPO announcement.  Timing would be a little odd perhaps.

Keep in mind his idea of "exciting news" may be different than the rest of the planet's.  For example from last year, "Exciting news for Prosper Marketplace today! We are very happy to announce BlackRock as a backer."  Big whoop.

What would be truly exciting is if they announced that they were entering the insurance business.  Someone wants auto insurance, they go to Prosper.  We get to quiz the person on how much they drink when they drive, if they put on lipstick whilst on the freeway, and other important issues.  Then the marketplace decides if this person is insurable.  That would be rather cool, and genuinely exciting.

It's really quite scary how screwed up LC's systems can be, is it not?  (Even when things are functioning "normally".)  Imagine you had an auto-sell algorithm set up based on payment date, and instead of today's date, LC spit out a date well into the past.  All of your notes might be gone in the blink of an eye.  Granted your own code would be partially at fault there.  But if you can't trust the data that is shown (and you hardly ever can), then what do you have left?

https://forum.lendacademy.com/index.php?topic=2701.msg24009#msg88888888Quote"> from: Jon on October 23, 2014, 08:15:41 PM

Isn't it possible a BRV would jeopardize the fat cats' stakes in Lending Club?  I can almost guarantee the companies that sank millions into Lending Club didn't do so under an agreement that made their piece of the pie junior to outstanding notes.  In effect, they used our notes to guarantee that cigar smoking yacht party-goers would not lose money.  A BRV would take that away, because the buffer of several $billion would disappear.

https://forum.lendacademy.com/index.php?topic=2677.msg23816#msg88888888Quote"> from: yojoakak on October 14, 2014, 04:45:07 PM

https://forum.lendacademy.com/index.php?topic=2713.msg23809#msg88888888Quote"> from: Fred93 on October 14, 2014, 01:36:21 PM

https://forum.lendacademy.com/index.php?topic=2707.msg23742#msg88888888Quote"> from: SeanMCA on October 11, 2014, 01:29:31 AM

I spoke with Lending Club about the 100% limit last week.  I don't know why I even bothered with the direct approach this time.  Bashing them here on the forum seems to work better for fixes.

They refused to spend development time for working on something which only affects a handful of investors.  Ok, I can understand that.  But when I asked what possible work would have to be done since the system already calculates the number (to know that it's over 100%) I didn't receive a good answer.  Maybe I got a chuckle out of him.  I think the rep was placed in the unfortunate situation of defending something that was obviously silly.

I did learn one interesting tidbit though:  There is also a lower limit of -100%.  At the time this made sense to me, but I was in error because I forgot that this is annualized.  It most certainly would be possible to have a traded notes return way under -100%.  Last year I think I traded with some people sporting such returns. https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />

So it seems Lending Club doesn't want to show returns which are "too" good.  But they also don't want to display returns which are too poor.  How convenient.

Stay tuned for the next episode when they decide limits of -15% to +15% would be better for their PR purposes, and use the "vast majority" as an excuse.