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Worst Loan of the Day Thread, Grades A - C

Started by Peter, February 04, 2018, 11:00:00 PM

Previous topic - Next topic

Rob L

This should be fun.

I mentioned in another thread that I still run my auto-invest program every feeding time and score all the new loans. I have it set to invest zero dollars since I'm cashing out but I still get scoring values. So, as time permits, I plan to post what I see as the worst grade A-C loan of the day. Many say the D and lower loans are all terrible (and I have experienced the pain) so I won't go there. Some daily loans will be much worse than others but all will be terrible (at least as I evaluate them). I encourage everyone to post loans they evaluate as even worse than mine:

So, let's start with:

Offered at 5pm EDT on 12/18/2017 a B4 at 10.91% APR:
https://www.lendingclub.com/browse/loanDetail.action?loan_id=125947093&previous=browse" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=125947093&previous=browse

jd


Reginald






TravelingPennies

Okay, I opened up the flood gates so to speak and now get scores on just about all the A,B,C 36 month loans (I don't do 60's).
So many loans, so little time, ... The worst loan of the evening is (drum roll please):

https://www.lendingclub.com/browse/loanDetail.action?loan_id=125988314" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=125988314

A C3 at 14.08%, 9% funded now so there's plenty of time left to invest  https://forum.lendacademy.com/Smileys/default/undecided.gif" alt=":-" title="Undecided" class="smiley" />


SLCPaladin

In addition to posting the duds of the day, I would love it if you also post why you think each loan is the biggest stinker. This would be good for me to understand how other people evaluate bad/risky loans.




TravelingPennies

Another winner from the 1pm EDT drop:
https://www.lendingclub.com/browse/loanDetail.action?loan_id=125917599" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=125917599
LC assigns this as a B4, 10.91% interest, 4.03% probability of default.
My wacky auto-invest program says it's a 31.8% probability of default; go figure. What can I say.

From the same drop there's also this gem:
https://www.lendingclub.com/browse/loanDetail.action?loan_id=126084792&previous=browse" class="bbc_link" target="_blank">https://www.lendingclub.com/browse/loanDetail.action?loan_id=126084792&previous=browse
LC assigns a C4, 15.05% interest, 7.00% probability of default.
My same wacky auto-invest program says it's a 32.2% probability of default, but it scores slightly higher than the first loan since the interest rate (reward) is a tad higher.

If anyone out there is using a third party invests for their account in any of the loans I post in this thread as terrible it would be fascinating to hear about it.
I'll take a sizable bet that will never happen. Bring it on ...



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