Some help locating a loan? 93117022

[newrecruit]

New to p2p... customer service hasn't been much help. Told all is approved and waiting for investors. When I go to "browse loans" I don't see it. Loan # is 93117022
Is there anyone that can help? I assume some search functions aren't available to borrowers?

[Debt Free]

Do not see it either on LC or Folio.

[TravelingPennies]

Any idea why that would be? I was sent an email days ago stating credit dept says all looks good and we are just waiting for investors to back your loan....

[Fred93]

Some loans are sold to large institutions, such as banks, rather than going thru the web site.

[TravelingPennies]

Ok. I appreciate the info, LC really hasn't been any help. It seems they keep telling me I'm approved and all looks good, yet it doesn't sound like a loan is even guaranteed at this point.... seems like a lot of wasted time to know or not

[Edward Reid]

It's not guaranteed, but most loans do get funded unless there's something really dicey in the listing. If they don't get snapped up by the institutional investors, it usually takes a few days for the P2P investors to fund them. It's definitely not as fast as getting a car loan from your local credit union.

An example of dicey is a recent class C application. Most of the numbers were good, but the applicant was requesting a $40K loan for debt consolidation and had $97K in revolving debt. That got to about 75% funded before it timed out. I don't know about others, but for me the fact that the applicant was requesting a maximum loan and the discrepancy between the loan and the debt kept me away from it.

Edward

[PhilGD]

https://forum.lendacademy.com/index.php?topic=4183.msg38689#msg88888888Quote"> from: Edward Reid on November 19, 2016, 12:01:18 PM

[fliphusker]

What he means is that the loan will not cover the debt amount.  So instead of making 1 big payment, they are having to make 2. 
But there are a number of factors on why a note does not fund right away.  Debt to income, prior bankruptcy, lots of inquiries, lots of delinquencies, employment or even odd income listed for the employment.  (Usually just a clerical error showing a teacher making 33k/month).  Without seeing the actual listing or more info, can not really tell why it was not snatched up right away. 
https://forum.lendacademy.com/index.php?topic=4183.msg38692#msg88888888Quote"> from: PhilGD on November 20, 2016, 01:57:00 AM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4183.msg38692#msg88888888Quote"> from: PhilGD on November 20, 2016, 01:57:00 AM