P2P Lending / NFT Lending Forum

Unfortunately, these online loan places have to depend on things like credit score, as they don't have the manpower to do individualized underwriting.  I doubt that you can get thru to a person who can deviate from the rules.

Even banks, which appear to have people involved, are less flexible these days than they used to be.  You may need to find a lender who specializes in low-credit-score individuals.

I wish you good luck.

PS: Reasonable funerals don't cost $13,500, so that part of your story will sour any underwriter.

LC does have a secondary market.  It is for "institutions only".  They told me I'd have to form an LLC to go further.  I found this would cost me a lot of money.  State of CA has a fee to form an LLC and an annual tax, and I'd have to pay an accountant to make another tax return every year.  I figured a few thousand a year.  I did not proceed.

https://forum.lendacademy.com/index.php?topic=21675.msg61996#msg88888888Quote"> from: jrl on August 02, 2020, 05:39:46 AM

I just now tried.  I get 874 MB, and the resulting .zip file is declared invalid by both Windows Explorer or WinZip.

WSJ is paywalled.  Article says banks don't know who is going to pay them back, so they are pulling back across the board.

https://www.wsj.com/articles/flying-blind-into-a-credit-storm-widespread-deferrals-mean-banks-cant-tell-whos-creditworthy-11593423001?mod=hp_lead_pos5" class="bbc_link" target="_blank">https://www.wsj.com/articles/flying-blind-into-a-credit-storm-widespread-deferrals-mean-banks-cant-tell-whos-creditworthy-11593423001?mod=hp_lead_pos5
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There are so many of these spam messages lately linking to some crowdfunding real estate site, almost always from some new user with only a few posted messages (and meaningless ones!) that it seems quite likely that these crowdfunding sites must be in big trouble.

Wow.  Makes folio instantly "legit" in the eyes of many folks.  ...which sounds good for LC investors.

On the other hand, Marcus is a direct challenge to LC's business, which makes one wonder whether LC can trust GS as a partner.

But LC cares so little for the retail investor these days that they probably no longer care whether folio is a good partner or a bad partner.

https://forum.lendacademy.com/index.php?topic=21656.msg61850#msg88888888Quote"> from: rj2 on May 12, 2020, 10:56:38 PM

I sent this to LC today...

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and http://www.groundfloor.us" class="bbc_link" target="_blank">www.groundfloor.us

Will mortgage borrowers make the payments in the pandemic era?

https://forum.lendacademy.com/index.php?topic=21647.msg61796#msg88888888Quote"> from: JimGasperini on April 27, 2020, 11:33:37 PM

https://forum.lendacademy.com/index.php?topic=21646.msg61790#msg88888888Quote"> from: Rob L on April 24, 2020, 11:04:39 AM

https://forum.lendacademy.com/index.php?topic=21645.msg61786#msg88888888Quote"> from: JimGasperini on April 23, 2020, 02:26:23 PM

On April 20, 2020, LC filed an 8K with SEC containing the following text...

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LC made a huge change on 3/30/2020, increasing rates for high quality loans by 2%, medium quality by 3%, and low quality loans by 4%.  Quite different than the tiny meaningless rate adjustments of the past. 

Then 10 days later, they announced that there would be no more grade D loans issued.  I suppose this opens the possibility of future rate increases for C grade loans.

Of course we still cannot judge what the change in default rates will be in light of the Covid-19 events.

https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Ffred93.com%2Ffbi%2FLC-interest-rates-2020-04-14.png&hash=dc42110b8e3a42220a08f99f1c54cd58" alt="" class="bbc_img" />