P2P Lending / NFT Lending Forum

Pleas indicate your level of concern with the lack of a bankruptcy remote vehicle for LC retail investors.

For those of you who have not followed other threads on this subject or don't know what a BRV is (which included me until a few weeks ago) a BRV protects investors in the event of a LC bankruptcy wherein the notes are held by a third party trustee in escrow for lenders (or similar functional arrangement). At present, the borrowers owe LC the money, not the investors, therefore in a LC failure preferred investors and secured debt holders would be entitled to these cash flows before lenders would be.

I think we have wondered off topic here.

https://forum.lendacademy.com/index.php?topic=2661.msg23283#msg23283">Quote"> from: Ran on September 21, 2014, 11:46:44 AM

https://forum.lendacademy.com/index.php?topic=2661.msg23263#msg23263">Quote"> from: rawraw on September 19, 2014, 07:38:27 PM

I don't think they have it split out correctly yet. If you switch on and off the "Adjust account value and returns for past-due Notes" the adjustment is the same for all 3. That just can't be right. I'm not even certain the traded note count is correct. What if I bought the note on the trading platform and sold it on Folio? Is that is the traded category?

https://forum.lendacademy.com/index.php?topic=1560.msg12277#msg88888888Quote"> from: cfb on September 12, 2013, 10:33:19 AM

I found a couple beauty's last week. Someone was selling all their $25 newly late 16+ days notes for $10 even. I bought 2 that had 2 or 3 on time payments and otherwise looked good and both came current within the week.

Maybe there is some is some history here that I don't know about but I have always been curious why new loans come with a job title and which disappears after the loan issues replace with current employer. I would have like both before and after. Surely LC had current employer at application time?

Here's a loan with a steady 725 FICO history which is almost 4 months without a payment and which was sent to a collection agency 6 weeks before the last FICO score was reported.  When does LC report these cheats?

https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?showfoliofn=true&loan_id=11296258&order_id=31341307&note_id=39351235" class="bbc_link" target="_blank">https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?showfoliofn=true&loan_id=11296258&order_id=31341307&note_id=39351235

It doesn't cover rent either. Just heard an NPR story saying that 36% (I think?) of renters were paying over 1/3 of their income on rent and in some parts of Florida the average renter paid over 50% of income for housing. The increase will allow more crummy loans to post. I filter out loans where DTI + PTI > 35% (Payment To Income ie DTI including this loan <35%) but I might have to loosen this soon to put more money to work.

						New Loans	Sold	% Sold
[Thu Aug 21 09:59:54 PDT 2014]: 503				503
[Thu Aug 21 10:00:28 PDT 2014]: 684				684		181
[Thu Aug 21 10:01:01 PDT 2014]: 606				606		78	78	043.1
[Thu Aug 21 10:02:00 PDT 2014]: 598				598		8	86	047.5

I knew I had to hurry at feeding time but this is a bit over the top. 181 new loans was not a bad load. 43% of all new loans are gone in 30secs and almost half in 2minutes. WOW!

If you are a securities law attorney or knowledgeable in securities law please reply or PM me.

Thanks Adam,

Where are you located?

Do your clients tend to be local? Widely scattered?

How do clients find you? You advertise somewhere?

https://forum.lendacademy.com/index.php?topic=2235.msg21435#msg88888888Quote"> from: CircleT009 on July 24, 2014, 09:23:13 AM

After I score a loan in Excel and decide to purchase, a macro opens a new IE window for the loan and I click "Invest" to put the loan in my basket.

If you then click the back button/arrow to take a closer look before completing the purchase, and then click to forward button/arrow to complete the purchase the loan count will still be correct BUT THE AMOUNT HAS DOUBLED for that note.

I had seen this happen once before but did not realize what I had done. It is easily reproduced.