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Messages - Bohb Daishi

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Investing - General (not P2P) / Bit Coin as an Investment?
« on: December 31, 1969, 07:00:00 PM »
This all goes back to the point I made earlier. Are you better off "investing" in bitcoin, or simply buying gold in World of Warcraft? Because in all practicality, the only difference between the two is that the gold will always provide some level of benefit if you play the game.
Investors - LC / Accrued Interest and Paid-Off Loans
« on: February 17, 2014, 12:00:00 AM »
This is a follow-up from my earlier post about losing out on accrued interest when a note became paid off. I felt that this warrants a new thread because it is useful information.

Long story short, according to LendingClub policy, a borrower is typically NOT held liable for accrued interest if they pay off their loan. The only exception is that the loan must have been brought current first (including past-due accrued interest). After it becomes current, the only payoff amount is the current principal, but not the current interest.

For example, take a "current" note with a 24% rate, a due date of March 1st, and a Feb 1st principal balance of $100. In theory, the note should accrue about $2 in interest between 2/1 and 3/1. However, if the borrower pays off the note on 2/28 with a $100 payment, LendingClub will NOT go after the borrower for the accrued interest, nor will they credit investors for that amount. Even if the note showed as having ~$2 in accrued interest on 2/27, investors still will not receive it.

The silver lining is that if the borrower pays AFTER the next due date (or on 3/2, according to the example), borrowers ARE held liable for that full month of accrued interest.
Investors - LC /
« on: January 29, 2014, 12:00:00 AM »
Investing - General (not P2P) / LC vs Prosper
« on: January 28, 2014, 12:00:00 AM »
Hands down, the secondary market on LC is vastly superior to Prosper.
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