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Messages - anabio

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19
Investors - LC / Worst Month Yet
« on: February 16, 2017, 12:00:00 AM »
It looks like I finally turned the corner with notes going IGP...its about time :-. Only have 1 note in grace right now (out of 533 current). In January I had around 6-7 in grace at any given time. Previous months I mostly had double digit graces at any given time.

I figure the reason might be that since most of my notes only have 2-4 more payments left (weighted average age is 33 months) my borrowers have finally figured out that they might as well "stick it out" and just continue paying. I have no real proof of that except anecdotally. I notice a few of my notes taking a plunge in Fico score but still remaining current in payments (so far). I think they are making those payments because they realize they only have a few more payments left. In the past I think they would have just said "to heck with this stuff" and stopped.
20
Investors - LC / Worst Month Yet
« on: December 25, 2016, 12:00:00 AM »
21
Investors - LC / Worst Month Yet
« on: December 21, 2016, 12:00:00 AM »
22
Off Topic / Cash Parking
« on: December 12, 2016, 12:00:00 AM »
Back in 1981 I had a one year CD from Liberty Savings and Loan (not around now). It paid 11%...Of course this was during the "hyperinflation" days --well, not exactly on the Venezuelan scale-- and my house mortgage was at 12% (VA and if I remember correctly it was around 2% lower than the going rate at the time).

Really pissed me off...here all the unions were getting 10%+ yearly pay raises and the President decided that someone had to bit the bullet and military raises were almost non-existent.
23
Investors - LC / Worst Month Yet
« on: December 09, 2016, 12:00:00 AM »
For quite a long time my fico was around 804. Within the past year I went on a "application spree". Got an AARP Visa, PENFED Visa, Amex Blue. Already had Freedom, CapOne, DoubleCash and USAA. The AARP and Amex Blue came with a 12 month and 18 month interest free period. Had no decent balance transfer so I didn't do that. What I did do was charge the heck out of the AARP & Amex. Amex had limit of $20,000. Up to a month ago I had that up to $11,000 (over 50%). AARP had limit of $15,000. Up to a month ago I had that up to $3,400 (20%)

A few months ago I got a balance transfer offer of 0% 18 months 2% fee from Capone. I grabbed that. Limit was $20,000. I wrote checks to myself for $17,000. That put me at 85% utilization. A short time later I got an offer from Freedom for 0% for 12 months with NO fee. I grabbed that. Limit is $17,000. Took out all 17,000. 100% utilization.

In case you are wondering, I planned this and did it for a special purpose. Just got REAL lucky with that FREEDOM offer.

All told I had around $123,000 in  credit limit on these cards. My overall utilization across all cards was 40%. My Fico went from 804 to 733.

Decided to change  my Penfed HELOC to a 5/5 plan (to lock in the 3.75% for the next 5 years...inflation WILL come back you know). Worried about my fico hurting my chance for that rate so paid down cards to get utilization down somewhat.

Took Amex down to $9,000.  Utilization is 45%
Took freedom down to $8,000. Utilization  is 48%
Took Capone down to $13,800. Utilization is 69%
Too AARP down to $3,000. Utilization is 20%
Overall utilization now at 27.5%.

Just checked my Fico from 4 different Credit Cards (offering free fico scores) and Fico ranges from 765 to 773 with above utilization.

So apparently my score only tumbled around 70 points with the heaviest utilization. It only dropped around 20 points with my latest utilization.
24
Investors - LC / Lending Club Collection Actions
« on: December 02, 2016, 12:00:00 AM »
Quote"> from: Shawnthgreta link=topic=4200.msg38831#msg38831
26
Investors - LC / LC prepayments rising
« on: November 16, 2016, 12:00:00 AM »
I'm not sure if it could explain why there is a recent spike in prepayments but one reason why a loan is prepaid real early might be that the borrower became "super conscious" of the monthly payment.

What does the auto salesman talk about concerning the cost of buying a car? The monthly payment of course. "What if I can get that monthly payment down to ???". People don't seem to care about the loan amount as much as the monthly payment.

What if borrowers realized they could lower their  monthly  payment dramatically by going for a 5 year loan instead of a 3 year loan?

Someone showed a chart of 3 year loan prepayments...what does the chart of 5 year prepayments look like?

Of course...this still would not explain month 0 prepayments. I doubt the borrower would be able to get that 5 or more year loan that soon after closing on their LC loan.
29
Investors - LC / Worst Month Yet
« on: November 02, 2016, 11:00:00 PM »
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