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Messages - kbenson99

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BlueVestment / BlueVestment Filter by TimeLeft?
« on: February 12, 2016, 12:00:00 AM »
What type of Folio automation is currently being developed (buy and/or sell)?  If buy, how often will notes on the Folio platform be searched?
As of 9:50am, there were 231,224 notes on the secondary market, with a loan count by status breakdown as follows:

Late (16-30 days)925
Late (31-120 days)3858
In Grace Period1160

Given that a note's collection log is only available from loanPerf.action, it would be extremely expensive to be constantly scanning 3858 loans, for loans that are Late (31-120 days).  A person who is trying to constantly scan the collection logs of Late (31-120 days) loans would most definitely get flagged by LendingClub for screen scraping, which LC spells out as prohibited "[w]ithout our prior consent".
Investors - LC / Oil - are you redlining any states?
« on: January 07, 2016, 12:00:00 AM »
Given the state volume differences (for example for last quarter ending 9/30/15, CA had $323M of $2.235B of the total LC issuance, or ~14.46%), it would be difficult to find enough loans to cap all of the CA, TX, FL AND NY states at 5% given that these 4 states alone accounted for ~38.34% of the loan issuance last quarter.  You may be able to redline 1 or 2 of these 4 states, but good luck finding enough loan volume from other states.

I'm not aware of any third-party providers that have enabled the capping of state allocation as a percentage of your portfolio.  It is a fairly simple if you have basic programming skills to implement this.

Personally, I redline NY (my default rate from this state was quite a bit higher for some odd reason).  My loan issuance by state is below:

State  %ofIssued
TX   13.83%
CA   13.54%
PA   4.92%
VA   4.71%
NJ   4.63%
FL   3.62%
IL   3.26%
NC   3.26%
OH   3.26%
MD   3.19%
GA   3.11%
MA   2.90%
WA   2.61%
CO   2.46%
IN   2.39%
LA   2.39%
MO   2.32%
AZ   2.24%
MI   2.10%
OK   2.03%
AL   1.81%
SC   1.52%
TN   1.52%
OR   1.45%
MN   1.30%
KS   1.01%
NV   0.94%
NY   0.94%
KY   0.72%
UT   0.72%
AR   0.65%
WI   0.65%
HI   0.51%
NH   0.51%
NM   0.51%
MS   0.36%
WV   0.36%
RI   0.29%
MT   0.22%
ND   0.22%
WY   0.22%
CT   0.14%
DC   0.14%
DE   0.14%
NE   0.14%
AK   0.07%
SD   0.07%
VT   0.07%
Investors - LC / What time does LC Post Interest Payment?
« on: November 06, 2015, 12:00:00 AM »
You will see fees taken from your cash balance at 8:00pm EST.  By 9:25pm EST, the activity records in "Download All - Extended" for the service fees will appear.  By 9:40pm EST, at the latest I've seen in the past several 6 months or so, the activity records for the principal and interest will appear and is applied to your cash balance.
Oh my!  60% of your entire portfolio in LC?  You're taking on waaaaay too much risk by putting such a large percentage in one basket.  Read LendingRobot's analysis on how much to invest; I personally think Emmanuel's 12-14% conclusion is a little high, but the explanation regarding correlation is sound.  I only invest about 8% of my entire portfolio in LC and will never go above 10%.  If you're putting such as large % in one basket, you may want to consider talking with a fee-only financial advisor.

REIT ETFs such as SCHH (exp ratio .07%) and VNQ (exp ratio .12%).
Total Return ETFs such as SCHB (exp ratio .04%) and VTI (exp ratio .05%).
Investors - LC / Updates to your Lending Club data
« on: September 27, 2015, 11:00:00 PM »
How did you receive this notification from LC; email???  I surprised I didn't receive any notification...
Interest Radar / Invalid Note or Order Specified
« on: June 24, 2015, 11:00:00 PM »

I have 3 LC accounts.  I've also noticed today that if I try to access a note's performance page for an account using an account that doesn't have a note for the loan, I am given the "Invalid Note or Order Specified" message.  Did not get that message on Tuesday at least.  So, apparently LC is putting a security check in place to prevent users from seeing the performance page for a note if the user doesn't own a note for the loan (and didn't thoroughly QA the change; "Lucy, you have some 'xplaining to do!").  If the security check is true, FolioFN surely will have issues.
Yep, it's the Fair Debt (deadbeat) Collection Practices Act at work; see and  Some borrowers (aka deadbeats) have a chip on their shoulder and can't be bothered to take responsibility for their debts and have the chutzpah to throw out the cease and desist request.  Once the cease and desist is made, LC can't do much except to sell the debt or sue.

Once I see this message in collections, I consider it a complete loss and move on.
Investors - LC / Regular account or IRA?
« on: June 03, 2015, 11:00:00 PM »
Folio note trading is no longer prohibited for IRA accounts.  I inquired from LC before I opened a Roth IRA account 2 months ago and was reassured concerning Folio trading privileges.  I have sold several notes without issue within the IRA account.
The "automated monthly payment failed due to account issue" collection message is an almost certain kiss of death.  I have 43 notes that have this message; 42 have either been Charged Off or are in the Late (31-120 days) status.  The only one that has gone back to Current is So, for me, ~97% death sentence.

The "payments will be mailed" is not as bad as the "account issue" message, but is a "slow" kiss of death.  I only have 7 that ever had this message.  4 have been Charged Off, 1 is in Late (31-120 days) status (and has a "cease and desist" message, so this one is dead), 1 is now Current, and 1 always pays In Grace or Late 16+.

Late (31-120) days
Pays Late
Investors - LC / Lending Club API questions.
« on: April 22, 2015, 11:00:00 PM »
Since you are using python, I'd suggest using the "requests" module; install using "pip install requests".

Use a requests.Session instance, add the authorization header {''Authorization': 'your api key'} to the session header and then call the get method on the session instance with the url value.
Investors - LC / Percent of Loan in Not Yet Issued Status
« on: April 19, 2015, 11:00:00 PM »
No, loans that do not issue are not in the historical files.  Also, list_d is, in programming terms, is "deprecated".  See  Use OrderDate instead.

I keep tabs on how long notes take to issue (automated, of course).  Over the past 1 year, the average by month varies between 6 and 8 days.  Approximately 75% of the loans that I have submitted over the past year have been issued.  Currently, my "Not Yet Issued" stands at ~3.5% (total issued notes of 1410). 
Investors - LC / FICO drop exemplar grande
« on: February 03, 2015, 12:00:00 AM »
That's a crazy one.  $1,250 monthly gross income???  Someone (Mommy or Daddy) must be helping to pay.
Investors - LC / A few new entries in the collection log
« on: December 23, 2014, 12:00:00 AM »
Saw a new collection entry (for me)  on a loan that is in Chapter 13.  The loan was charged off on 5/30/14. I received a recovery on 9/26 ($3.30 out of an outstanding principal balance of $23.30). has an entry on 12/12/14 for the Chapter 13 filing and another entry on 12/12/14 of "Lending Club filed Non Dischargeability Complaint (Chapter 13 Bankruptcy)".

So, are dates for this Chapter 13 loan erroneous (since a recovery has already be made) or is LendingClub becoming more aggressive with scofflaws who are trying to game bankruptcy laws?
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