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what am I missing on this note?

Started by Peter, April 14, 2014, 11:00:00 PM

Previous topic - Next topic

lc12

This note has been on the market for 2 days with only 37% funded. It doesnt seem that bad of a note...what am I missing?

Mike


https://www.lendingclub.com/browse/loanDetail.action?loan_id=14519299&previous=browse" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=14519299&previous=browse

Bohb Daishi

Good question. It's probably a fluke, where it doesn't fall in most people's filters.

Jomar

Only significant blemish I see is that they had a $729 debt sent to collections at some point, but that usually doesn't keep a loan from being funded within a few hours.  I agree, that's strange.

Randawl

He has owed $729 in collections in the past.  He just opened a revolving account 2 months ago, although he appears to have been approved as the most recent inquiry coincides with it.  His credit age suggests he may be "old" and I know people and websites that suggest excluding those with credit histories longer than 25-30 years.  It's a 60, some investors shy away from those.  He claims to be in sales which some investors dislike because of its suggested income volatility.

Despite the above, it's not really a "bad" appearing loan.  Also, some people only look at "new listings" so loans that are not funded within seconds to hours get overlooked.



Dark Vulture

1) It's a 5 year loan-Some people prefer 3 year loans only.
2) It has one credit inquiry-Some people only want 0 inquiries in the last 6 months.
3) The person might be "old"- Earliest credit line is 1984. People fear the "borrower deceased" in the future.
4) 58% credit utilization-Some people prefer below 50%.

A couple months ago, this loan would have funded in seconds. Now, there is a big supply of loans where investors can pick and choose which loan to fund with really strict filters.






NEW LOANS:   | 804.eth 2.500 Ξ | remoraid.eth 0.299 Ξ | remoraid.eth 0.299 Ξ | ALL