tag:blogger.com,1999:blog-5003361331769994263.post3876790548705537304..comments2023-09-09T06:38:06.990-06:00Comments on Pulling Ourselves Up Financially: What Lending Club is NOTPulling Myself Uphttp://www.blogger.com/profile/03676667648941966869noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-5003361331769994263.post-69925577989800156312014-02-25T10:19:12.886-07:002014-02-25T10:19:12.886-07:00Those new loans get funded quickly. Unless a peros...Those new loans get funded quickly. Unless a perosn wants to use the LC service to automatically fund loans... there really isn't a reasonable chance of them finding a loan and funding it. The secondary market seems to be the only way to be selective and choosey.Pulling Myself Uphttps://www.blogger.com/profile/03676667648941966869noreply@blogger.comtag:blogger.com,1999:blog-5003361331769994263.post-41444264390207174212014-02-25T09:01:53.911-07:002014-02-25T09:01:53.911-07:00Keep in mind most popular loans are funded in less...Keep in mind most popular loans are funded in less than 60 seconds (see https://lendingrobot.com/#/lc_popular to get a real time update), so an investor needs to act quickly or automate.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5003361331769994263.post-77719215279985834032014-02-24T13:27:05.996-07:002014-02-24T13:27:05.996-07:00When you sell notes on the secondary market you ar...When you sell notes on the secondary market you are paying an extra fee to LC. I am pretty sure thats what it was but I admit that it was 5 years ago.<br />I had 1 note be paid off, 1 went into default and all the rest I sold on the secondary market so I racked up a lot of extra fees that a regular investor will not. <br /><br />I'm estimating only a 1% - 1.5% fee going forward.<br /><br />Pulling Myself Uphttps://www.blogger.com/profile/03676667648941966869noreply@blogger.comtag:blogger.com,1999:blog-5003361331769994263.post-38833474146043660922014-02-24T11:29:46.032-07:002014-02-24T11:29:46.032-07:00Great summary there! The first point is the most i...Great summary there! The first point is the most important point. No matter how crazy it sounds to put a +20% on a note, we are talking unsecured debt here, and the risk of lending must be accounted for in some manner. As you've said, even with these high rates, the appeal of a fixed rate, generally lower than what currently is being paid tends to benefit the borrowers.<br /><br />Additionally, I'm curious how you averaged 3.5% in fees back in the day, given that the monthly charge for payments is effectively 1% or less and the cost for selling notes is only 1%.writing2realityhttp://www.writeyourownreality.comnoreply@blogger.com