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Change to note status updates

Started by Peter, October 09, 2013, 11:00:00 PM

Previous topic - Next topic

Randawl

I was glancing at a note that I had in grace period and noticed new information listed under "Status" where it normally would show "Current", "Completed - on time" and the like.

Quote

core

Hey thanks for the heads-up.  I probably wouldn't have noticed.  This is quite a step in the right direction!

That one has a little "Info" link next to it, but I can't get it to do anything.  Odd.  I'm dying to know what that's supposed to do.



TravelingPennies

That's it Randawl, I knew it.  The execrable witch of LC has flagged my account so that I can't click the link.  I wonder what I did to deserve this?  After all the positive things I've said here...    https://forum.lendacademy.com/Smileys/default/undecided.gif" alt=":-" title="Undecided" class="smiley" />

There's some profits to be made hiding behind that link.  I am certain of it.

New Jersey Guy

"The link doesn't work for you?  When I click on the link it brings up a box with Stephanie's direct phone number and extension."

Same here!  She even saw to it that I got a $50 account bonus just for calling in!

Joleran

I wonder if that note has a payment being processed right now, since the original due date was 10/3 and the page says the next pay date is 11/9, that would be quite an extension if that's not just a display bug and there's really a payment being processed for 10/9.

The Info link is a blank anchor tag right now, so it's not a client side bug anyway!



TravelingPennies

I just noticed that you'll lose interest when this happens.

For example, when it happened to this loan the gap between payments was 6 weeks. But you still only got 1 months worth of interest.

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=768946&order_id=2967948&note_id=4945885&ts=1387057874471" class="bbc_link" target="_blank">https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=768946&order_id=2967948&note_id=4945885&ts=1387057874471

pplinvestor

yojoakak,
Great catch.  I wonder what other LC's funny math cost us.

TravelingPennies

What's strange is that the borrower made a payment on 10/16:

Quote

david450

Hi
I chased the same type of things ------ after several iterations with LC phone/email support this is what I got:

Current Practice:

    When a loan is fully paid off between  normal payment  N and N+1, it is back dated to N and there is no interest collected for the period (and thus non-payed).   This is because (I am told) LC does not do daily interest accounting, only period. 

Future Practice:
   (On loans originating after October )---- LC will collect and distribute the for the period between N and day full payout is processed.)

They could not tell me why this was hooked to Loans originating after October even though borrower is not aware they will not be paying interest on outstanding balance pending that full payout.

They reminded me that under a recent policy, when a loan is paid off during the first year, the investor only pays the normal payment service fee and I should be happy for that.

---I am happy for that, but floor by the other.
-------------
db

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