P2P Lending / NFT Lending Forum

It seems that few months ago LC has implemented a charge off policy where the loans are mostly charged off at the end of the month, as opposed to normal as they come pattern.  Has anyone else noticed this, and any thoughts on why they are doing it? Also, it seems that the bulk charge off catches loans that are not in default status but ranges even into 16-30 days late...pretty frustrating in estimating returns and CF...

Apparently there is a new API that allows to automate Folio directly

http://www.foliofnapi.com/api.html" class="bbc_link" target="_blank">http://www.foliofnapi.com/api.html

Has anyone taken a look at it yet, and any thoughts about usability, features, issues etc?

Interesting, these are de facto safer as both are separately and jointly liable for the loan...interesting to see if the joint means jst family members, or in fact allow for other cosigners?

So what are the 4 new columns / fields they are adding?

Interesting, would like to now this too

Fred, interesting, thanks for sharing, would love to hear how it goes for you.  BTW, on the subject of gettign a European EURO denominated account, once yu do, if you could share the hoops to jump through would be much appreciated.

Seems Prosper decided to skip the noon release without any notice...anyone know what the story is?

https://forum.lendacademy.com/index.php?topic=3215.msg28871#msg88888888Quote"> from: Fred93 on May 13, 2015, 08:47:30 PM

That is actually excellent news, I look forward to being able to start buying small business loans via LC when they make this available, this is a great channel for it.

Yep, saw this feature, not quite sure how useful this is or what to do with it yet...any thoughts?

This is interesting, and a good development, would love to get more info on the note as well, would be interesting to follow this

https://forum.lendacademy.com/index.php?topic=3162.msg28512#msg88888888Quote"> from: Fee on April 16, 2015, 07:51:33 PM

Saw the error as well, crashed my reporting and loan submission, need to improve the error handling around this.

Do you guys have a list of other errors you have seen from the servers, and possible error handling ideas, would be quite helpful if you are able and willing to share.

Just wanted to note that it is a bit strange that LC explicitly does not provide a value of monthly installment for each loan in its API.  sure it is fairly easily derived from installment field and proportion of loan you hold, but why make the investors jump through little extra hoops?

Broadly speaking your notes invested but not issued will hover at about 35% for higher grades.  So keep that in mind when planning your deployment.  also take into account that there is pre-payment going on on loans you already funded, as well as regular CF, so that will add to your funds idle build up as well.

If your system is fast enough to grab all the loans you want in time, you can expect to see about 200 decent loans in a month out of which 140 will fund, so at $50 clip, the estimate above is correct.