tag:blogger.com,1999:blog-7209606.post2056232274661421616..comments2023-08-24T02:55:54.336-07:00Comments on Random Thoughts: Introducing PeerCube: Smart Lending with Peer Insights for Lending ClubAnil Guptahttp://www.blogger.com/profile/04626638497955200142noreply@blogger.comBlogger6125tag:blogger.com,1999:blog-7209606.post-77515385037395701562014-05-31T14:49:46.035-07:002014-05-31T14:49:46.035-07:00Here is a formula to consider. Limit a HELOC or RE...Here is a formula to consider. Limit a HELOC or REHELOC to 50% loan to value and it has to be a first lien HELOC. Offer this product knowing that in 10 years the customer may want a Replacement HELOC. Everybody wins, the first investor is paid off after 10 years, the new investor gets a 10 year safe investment that is pretty much economy proof since the LTV is at 50% or less and they are first in line in event of a default.<br /><br />STAY AWAY from second lien HELOC's since those are most apt to defaulting and then there not being enough equity in the home to pay off after the first lien mortgage is paid off. First lien HELOC's mean there is no mortgage other than the HELOC. This also means the homeowner was responsible enough to pay off their home before accessing it for cash in their retirement years.<br />Alessandro Machihttps://www.blogger.com/profile/06316327488702524564noreply@blogger.comtag:blogger.com,1999:blog-7209606.post-1255609811470231992014-05-31T14:44:42.388-07:002014-05-31T14:44:42.388-07:00Peer 2 Peer should have a subset for first lien lo...Peer 2 Peer should have a subset for first lien loans that are backed by collateral. There are millions of homeowners who are equity rich and cash poor and who could be losing their homes even though they have hundreds of thousands of dollars in equity because their HELOC's are resetting and they cannot get a replacement HELOC.Alessandro Machihttps://www.blogger.com/profile/06316327488702524564noreply@blogger.comtag:blogger.com,1999:blog-7209606.post-23218387123544978002012-09-10T21:04:02.277-07:002012-09-10T21:04:02.277-07:00Thanks for your comment. Please let me know your f...Thanks for your comment. Please let me know your feedback and suggestions for improvement on PeerCube. I just wish that I had access to Lending Club beta API. I had to slow down further development on LC front as I don't want to redo work once API is released.<br /><br />Thank you for your nice comments. I am sure Mrs. RT will be pleased to hear that readers read her posts. She mentioned to me a few days ago that how come I get comments on my blog posts and no one comments on her posts. My response was "Honey, how can someone argue with you, you are always right." ;-)<br /><br />Thanks.<br /><br />AnilAnil Guptahttps://www.blogger.com/profile/04626638497955200142noreply@blogger.comtag:blogger.com,1999:blog-7209606.post-85834164569767868702012-09-10T20:45:16.427-07:002012-09-10T20:45:16.427-07:00Conor,
Thanks for trying out the site and providi...Conor,<br /><br />Thanks for trying out the site and providing the feedback. We will include your recommendations on our requirement list and incorporate as I modify and develop site further.<br /><br />I noticed you discovered our "stealth" table sort feature. ;-) Actually columns with $ and % sign are sorting alphabetically and incorrectly. I have pretty good idea what may be wrong but I deferred the fix and made sorting non-obvious! In near future, I am planning to revamp the filtered loan page completely including adding peer opinions and rating as you suggested.<br /><br />Both selecting all in filter selection and minor loan grade, we have gone back and forth several times in last month without any consensus on what makes better sense - Minor loan grade versus Major loan grade and by default selecting all options. The opinions are equally divided.<br /><br />I will check out the quicker signed out issue. System shouldn't have signed you out that quickly. Authentication system has a few other quirks too.<br /><br />Once again, thanks a lot for taking the time to provide feedback. Such valuable and constructive feedback will help us improve PeerCube and make it more useful for ourselves as well as for our users.<br /><br />Thanks.<br /><br />Anil<br /><br />Anil Guptahttps://www.blogger.com/profile/04626638497955200142noreply@blogger.comtag:blogger.com,1999:blog-7209606.post-43686812563551394472012-09-10T20:40:56.353-07:002012-09-10T20:40:56.353-07:00Anil, this looks like a great tool. I'll be t...Anil, this looks like a great tool. I'll be trying it out personally as well. Kudos to you and Mrs. RT for sharing your learnings with the LC community.goonie0https://www.blogger.com/profile/08177024610115045281noreply@blogger.comtag:blogger.com,1999:blog-7209606.post-14571237583507880002012-09-10T15:21:51.874-07:002012-09-10T15:21:51.874-07:00Anil,
Great stuff. Really glad to you did this. ...Anil,<br /><br />Great stuff. Really glad to you did this. Looks to be working really well.<br /><br />Here are my first few ideas for the Loan Filter tool:<br />- Sort by Loan Amount Quantity (it is sorting alphabetically right now, not quantitatively)<br />- Ability to upload my CSV file of Notes and filter out those notes as well (I noticed as I am looking through my filter, that I am already invested in many of them)<br />- Filter by Minor Loan Grade (eg. B3-B5)<br />- I suggest defaulting the Location, FICO, Home Ownership, etc. filter selections to select all options (like you did with Loan Length), not just the first one<br />- Indicate the number of Peer Opinions on the Loan Filter results for each loan. I am much more interested in looking at a loan that people are chatting about than one that is blank.<br /><br />Also, I got signed out pretty quickly. Maybe 5 minutes or so of inactivity? Would prefer to keep it open longer.<br /><br />Great work, keep it up!Conorhttps://www.blogger.com/profile/11211473942539738620noreply@blogger.com