P2P Lending / NFT Lending Forum

https://forum.lendacademy.com/index.php?topic=2824.msg25173#msg25173">Quote"> from: SeanG on November 29, 2014, 07:10:35 PM

Ok, so here's what may be happening, as I see it:

1) Loans are apparently being dropped at all hours.  We had a LC loan a year back for our business, and after the loan was accepted the system told us that our loan would be "listed at 3 AM tomorrow".  Always thought that was strange given the 9, 1, 5, and 9 drop times.

2) LC's system clock may be out of sync with ours.  My process always started at 8:59, 12:59, 4: 59, and 8:59 in order to avoid that, but if LC's clock is set 2 minutes faster (dropping at 8:58) than our server's, a minimal drop of 40 new notes could be all gone by the time my process starts a minute later.  I trapped this case (for now) by backing up my cron jobs another 2 minutes earlier.

This sucks either way, really.  On one hand, if in fact they are dropping their few loans at all hours, and you wait for the feeding times, you lose out.  On the other hand, if they are still dropping the lion's share (currently a small one) at the prescribed times, and loan volume increases after the holidays, I would hate to have changed to a continuous 24x7 process and fund a bunch of lower return notes all day long just to miss out on the higher return loans that may be in the batches at the prescribed times because the available cash has been exhausted already.  That may be the only way to go to stay fully invested though.

Seriously.  Has ANYONE found ANY loans to buy in the last 6 feeding times?

https://forum.lendacademy.com/index.php?topic=2786.msg24811#msg88888888Quote"> from: Kombinator on November 19, 2014, 09:22:40 AM

https://forum.lendacademy.com/index.php?topic=2788.msg24713#msg88888888Quote"> from: Fred on November 14, 2014, 08:32:10 PM

Have had to lower the APRs of the loans I am funding to get anything that passes through my (admittedly stringent) filters.  Sideline cash was piling up.  But noticing that each feeding time only sees about 100+ new loans being dropped.  Frequently, 0 to 1 of those make it through my filters.  Anybody else having trouble staying invested at good return rates?  I don't do any A's or lower interest B's.

Ok, API users, can you help me with this one?  Now that we get all of our notes back through the API, I noticed that my notes (by status) don't total to the browser's totals.  Then I realized why.  Those that I chose to fund that were never consummated (showing as "removed" if you plug the loan-id into the LC URL in a browser manually), still show in my notes as "in funding" or "in review", but in fact are dead because of the underwriting decision (or the borrower's unwillingness to play ball with underwriter requests).  The problem that I have is how to know when to "remove" those notes from my own system, since they of course don't appear in the notes retrieved from the API.  I don't want to have to continually download the massive loans file manually just to find the status of these, and they no longer post those loans promptly, anyway.  Anyone figured out a remedy?  I thought of using the "expiration date", but that's being removed, and would never result in timely info anyway.  I guess I could just check my "last updated" date and if it wasn't today and the loan was "In Review" or "In Funding", remove it.  It doesn't seem like a very foolproof logic however.

https://forum.lendacademy.com/index.php?topic=2763.msg24420#msg24420">Quote"> from: rawraw on November 06, 2014, 01:51:49 PM

Just trying to honor the LC 13th Amendment, core.   https://forum.lendacademy.com/Smileys/default/wink.gif" alt=";)" title="Wink" class="smiley" />

https://forum.lendacademy.com/index.php?topic=2764.msg24388#msg88888888Quote"> from: samybob on November 06, 2014, 11:22:52 AM

I get leveling the playing field with the browser-based investor.  But you already have this data and are providing it through the API.  Why not just increase the browser-based filter options?

If you're using the API, the documentation defines empLength as "Employment length in years. Possible values are between 0 and 10 where 0 means less than one year and 10 means ten or more years."  Makes sense.  I'm glad that they stopped sending this as a string (as in "< 1 year").  However, in today's loan data, I found "empLength":120. 

First, it is outside the enumerated values list.  Secondly, it makes me question whether the element is truly measured in years.  Is this applicant that guy from that retirement commercial that has to live until 150 to retire?

Noticing that although the new REST API is working in general, it seems to be failing when the heat is on during the normal feeding times.  I am able to perform the HTTP post to get a few new notes, then get a few blank responses (not even a header), then the HTTP post just hangs.  Anyone noticing the same behavior?

All the notes owned that were returned today by the API are showing a Last Payment Date of 10/26/2014.  Even those paid-off a long time ago.

Anyone else noticed that no matter how you slice and dice the "Account Summary" info returned by the API, it doesn't add up with what is shown in the browser?  The differences are minor (i.e. < $5.00), but the "accountant" part of this software engineer doesn't like it.  I suspect that the information exposed to the browser is older, (or maybe it is the other way around).