P2P Lending / NFT Lending Forum

Since the new API was rolled-out, I have been maintaining a detailed status on all notes I funded.  For notes where the "last update date" was not today's date, and the status was "In Review" or "In Funding", I simply changed their status to "Declined" as it seemed safe to assume that these were loans not issued, and therefore no longer reported to me in the "Detailed Notes Owned" output.  Using this method, I was always able to match up the details for any status with the LC web platform data.

Something happened on 11/6/2014, however, and I now have a bunch of notes that were in "Current" or "In Grace Period" on that day that I am no longer getting any updates on.  Was this the day that LC issued an "oops" and "bought back" a bunch of notes that were issued?  It doesn't seem to have happened since.

https://forum.lendacademy.com/index.php?topic=2997.msg27133#msg88888888Quote"> from: lascott on January 27, 2015, 12:53:05 AM

https://forum.lendacademy.com/index.php?topic=2985.msg27084#msg88888888Quote"> from: Unfolder on January 22, 2015, 04:52:19 PM

Multi-byte characters in the empTitle field of loan ID 38509961 is crashing my UTF-8 dependent client process.  Apparently this data is not checked when borrowers have finger-fumbles in applying for a loan.  Beware.  Hope he gets funded/rejected soon!

It's not like they have policies and procedures, per se.

http://www.thestreet.com/story/12988327/1/on-deck-ipo-sees-big-demand-but-its-riskier-than-lending-club.html?puc=CNNMONEY&cm_ven=CNNMONEY" class="bbc_link" target="_blank">http://www.thestreet.com/story/12988327/1/on-deck-ipo-sees-big-demand-but-its-riskier-than-lending-club.html?puc=CNNMONEY&cm_ven=CNNMONEY

Could be the spouse's credit card balances.  That's the problem with all of our attempts to evaluate a loan.  We see only the applicant's credit, debts, and income.  The spouse may be in a very different situation (positive or negative).  Sometimes I would see applicants (when I used to use the browser platform manually), where he/she makes 60k/year but has $2500 in revolving debt payments/month.  I wonder how he/she could possibly be a 700 FICO.  But if the spouse has a paycheck and no debt, or there's other income (child support, alimony, drug money https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />, etc.), they sometimes work out fine.  The reverse is also true.  When I started my IRA account (and had a lot to invest at once), I put a lot more on some "golden" A & B notes that I wouldn't touch these days (because of the return and early payoff potential).  Some of those went belly-up in no time and I got burned.

https://forum.lendacademy.com/index.php?topic=2883.msg26259#msg26259">Quote"> from: Fred on December 15, 2014, 10:57:11 PM

Up 47.35%
Down 43.76%
Flat 8.78%

Oldest notes are > 4 years.

Interesting that few remain unchanged by their LC experience.  https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />

"Is each dollar of LendingClub revenue really worth $43? If you annualize its $144 million in reported revenue, you get $192 million — and if you divide that by LendingClub's $8.3 billion market capitalization you get 43."  Huh?  He must have gone to a different school than the one where I got my Math degree.

So, now that we can get the latest status and payment information for each of the notes we hold through the new API, it's no longer necessary to download the .CSV all the time to get the info.  Yeah!  Among other things (like calculating ROI), I want to get better aging info for past due accounts beyond "31 -120 days".  Always thought that was BS, as it tells you nothing about the trends in your notes (like are you going to have a huge write-off next month, or is this amount more evenly distributed 30/60/90/120? 

So, in order to break this down, I considered using "today - last payment date = days old".  Well, that's only true if the borrower pays the full amount each month until they just stopped paying.  If they fall 90 behind, then make a single payment, they're still 60 days behind when the payment was only 20 days ago.  So, obviously that is wrong.

Then, I thought that I would determine the aging by amount expected to-date vs. amount paid, using the method:
1) determine "loan performance days" as TODAY - issue date of the loan
2) determine "loan performance months" as "loan performance days" / 30  (truncated to the lower integer)
3) multiply amortized monthly payment by # of loan performance months to get to "payments expected to date"
4) determine payment amount past due by "payments expected to date" - (loan performance months X monthly payment amount)
5) months behind = total past due / monthly payment amount

This seems to work quite well, until I came across a loan (#1539580) where the borrower fell behind, made a huge payment, and then has skipped the last two payments.  Of course, he is past due because payments are due each month (you can't just pay ahead).  However, LC shows him as 31-120 when my method, of course, has him 7 months ahead.

Bottom line is, will LC write this guy off if he makes no payments for 3 more months, or will they let him go as long as he is ahead of the amortization schedule?

Anybody know?

So, I logged in today to see the status of my account.  Not quite so cut-and-dry as I had funded the account with more money before we knew about the 350 share limit (much less the 250 we all got), and I bought some more shares at the opening price.  So, all of the cash still shows on the Positions page., they don't update it until it settles.  The page is also hard to interpret, even with these few holdings.  Had to click all over the place to see balances, history, etc.  Thinking I'll be transferring these shares out pronto.

https://forum.lendacademy.com/index.php?topic=2872.msg26087#msg88888888Quote"> from: VirginiaBob on December 12, 2014, 04:15:21 AM

So, all of you folks that are anxious to sell and take a quick profit, why not at least wait the 3 weeks until 1/1/2015?  Sell now, and you not only will pay income tax at regular income rates, you also will get to pay that with your 2014 taxes.  At least if you wait until 1/1, you won't have to pay until 4/15/2016.  Of course, if you wait until 12/11/2015, you can pay at the capital gains rate, too, rather than the regular rate.  Just something to think about.

https://forum.lendacademy.com/index.php?topic=2825.msg25212#msg88888888Quote"> from: Fred93 on November 30, 2014, 03:57:42 PM