[jrl]

Usually the credit scores of borrowers update mid-month, but i've recently found out that around 90% of my current/IGP/Late notes have had their last credit pull on or before November 14th.

It's kinda hard to price notes with stale credit scores, so this is a major issue.

I also have 15 notes that haven't updated since August, with 2 that last updated in 2018, and 2 in 2017!

Also, the more recent credit pulls don't show up on the individual note's "credit score change graph" and are noticable on the NSR plaform with things like "UP (-25)" or "DOWN (10)". The only place I see these numbers is the "Download All - Extended" and "Download Details - All Traded Notes" CSV files accessed from the notes page (on LC site).

I called LC earlier today, and their respone was that "nobody else has brought this up," "can I put you on hold for a few while I ask the team," ("sure," few minutes later,) "maybe the updates are delayed from when they're pulled" and "we'll look into it."

I'm just wondering if this is something that anyone else has noticed or heard of happening before.

I hope it's not a sign of a bigger issue, like trying to save money by delaying credit pulls.

[Fred93]

I am sure other people have brought this up, because I've seen this issue discussed on this forum many times over the past few years.

[TravelingPennies]

from: Fred93 on January 08, 2020, 08:00:22 PM

[macroman7799]

Thanks for pointing this out. I only sell marginal notes on Folio. I use the credit score as one of my criteria but had not noticed how stale that data is. Maybe more of us need to call LC so that it's more on their radar.

[TravelingPennies]

from: jrl on January 09, 2020, 01:02:54 PM

[TravelingPennies]

from: Fred93 on January 11, 2020, 05:31:27 PM

[TravelingPennies]

Okay, the regular update of credit scores posted. This morning actually. Still around 1-2% with older credit scores, like the one note I have that hasn't updated since it was issued over a year ago. I don't think that'll ever get fixed. Now the chart for a majority of the loans goes from an 11/19 datapoint to a 1/20 datapoint.