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Messages - SeanMCA

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Investors - LC / LC prepayments rising
« on: February 19, 2017, 12:00:00 AM »
Are borrowers using a second loan from Lending Club to pay off their first Lending Club loan? The answer is yes

Investors - LC / Worst Month Yet
« on: February 03, 2017, 12:00:00 AM »
Another monthly statement, another loss.

I was down in July, up in August, down in September, up in October, down in November, up in December, and now down in January. Basically breakeven over the last 7 months.

Early payoffs have been devastating. 
Investors - LC / Spike in IGP this month?
« on: January 27, 2017, 12:00:00 AM »
Now that it's being mentioned, it looks like mine have shot up as well. 42 IGP right now, above normal for me
Investors - LC / Deadbeats
« on: January 16, 2017, 12:00:00 AM »
Investors - LC / LC prepayments rising
« on: December 03, 2016, 12:00:00 AM »
I've had 928 notes pay off early and my account isn't even old enough to have had my first 3-year note reach maturity.
Investors - LC / Worst Month Yet
« on: December 03, 2016, 12:00:00 AM »
This was my 3rd negative month since July. July, September and November all generated losses. Those losses for the most part wiped out all the gains in August and October. I haven't purchased any new loans since early June.

Considering my IGP and late categories aren't seeing any slowdown, I don't think I'll really be on a positive trajectory for a long while at this point.

What has killed me the most as I've mentioned previously is early payoffs. I've had 928 loans pay off early. That's 28% of all the notes I ever bought. My LC account hasn't even been open 3 years yet so the first note I ever bought hasn't even run its course to maturity. If all the good borrowers pay off early then this whole system doesn't make sense. And if they pay off after 12 months, we are hit with an early payoff penalty in the form of 1% of the outstanding balance to make it even worse.

If defaults and early payoffs hold steady, it's possible that I will only break even or experience losses going forward.

Investors - LC / Worst Month Yet
« on: November 02, 2016, 11:00:00 PM »
When did the "Understanding your returns" chart update to show so many investors below 0%?
Investors - LC / LC raises rates 10/2016 and updates loss forecast #s
« on: October 13, 2016, 11:00:00 PM »
Am I reading this right?

Projected investor returns on G-grade loans have dropped 313 basis points between April and today...
Investors - LC / Where did all the loans go?
« on: September 01, 2016, 11:00:00 PM »
I am seeing zero right now
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