P2P Lending / NFT Lending Forum

Here are the results for the strategy:

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After checking Lending Club maybe a dozen times, I've come to the conclusion that buying in-grace notes is simply not a viable strategy. Lack of liquidity is the issue: there are simply not enough notes available. Even if you could develop a computer vision robot, you'd be lucky to even snag 5 25/50 notes per month. In theory, the cure rate should be more than 65% (and even more than the cure rate of regular in-grace notes), but even if only 50% cure, you would end up with a 38-45% return. I've defaulted back to the penny note strategy for E/F/G notes. This seems to be safer than buying them straight out. Right now, my combined return is -2.04%. I'll update when I get positive/change services.

https://forum.lendacademy.com/index.php?topic=3551.msg39245#msg39245">Quote"> from: fliphusker on January 05, 2017, 04:56:20 PM

I knew lending club was a scam as soon as the rep called me asking me why I was trying to withdraw from my account. Right after that, the liquidity in the market dried up, bringing my 20% down to a -1% return in a few months. I now have a slew of charge offs.

The model is completely unsustainable since they do not hire the right credit analysts/statisticians and severely underestimate the risk of their borrowers. The platform only benefits debtors esp. those that commit financial fraud.

-As for me,

I am pulling out of Lending Club ASAP and looking for a partner to start a real, legit payday loans company.

1. Say I change my maintain cash level from $300 (current) to $500. How does the program decide how to price/markdown notes? Is there a way to set the max discount?

2. I've recently started buying in grace period and 31-120 day late notes as part of a more aggressive investment strategy, will PLS mess with these?

Thanks in Advance,

1. Say I change my maintain cash level from $300 (current) to $500. How does the program decide how to price/markdown notes? Is there a way to set the max discount?

2. I've recently started buying in grace period and 31-120 day late notes as part of a more aggressive investment strategy, will PLS mess with these?

Thanks in Advance,