Steadfast FinancesUsing the "Download All" Spreadsheet to Filter Lending Club Notes

A Faster Way to Review Lending Club Notes

Filed in Investing 101 , Peer to Peer Lending 16 comments

~ ~ ~ December 2010 Update: Earning 15.6% NAR on Lending Club investment portfolio. ~ ~ ~

Now that I’ve become something of a Lending Club investor junkie, and who wouldn’t when earning 14%, I’ve probably spent several hours per month cruising the loan application database searching for the perfect P2P lending notes (e.g. one that won’t default).

Lending Club’s loan application filters are awesome, without question, but reviewing large quantities of promissory notes based upon my personal social lending investment strategy takes a fairly substantial amount of time. It’s possible I could be doing it all wrong, but true to my own form, I’m way too much of a control freak to allow Lending Club’s automated investing plan to invest my funds for me, and I’d rather be slow and methodical (and right) than fast and efficient (and wrong) any day.

Thankfully, I’ve located a means of speeding up the process by downloading an Excel spreadsheet (thanks to reader Archie R.) listing each borrower’s information in one easy reviewable document (see screenshot).

Once you download the spreadsheet, you will see a rather large, but manageable, dataset that you can organize and manipulate any way that makes sense to you. Perfect for any Excel junkie or data monger like me who loves to use their owns strategies and screens.

How to Use the Loan Applicant Spreadsheet

If you’re not looking to speed up your loan filtering process or you’re not looking for very specific information, then you’re probably better sticking with the Lending Club filters. It’s simply not worth reorganizing the spreadsheet and digging through all that data if you’re not that picky of an investor or your investing strategy isn’t that specific.

However, if you’re trying to quickly locate data not available in the filters or you’re looking for one (or more) very specific piece of data (e.g. Job Title, Employer, etc.) then an all in one spreadsheet is exactly what you’re looking for.

Here’s a quick crash course on how to download and use the spreadsheet when screening by “Job Title” and “Employer”:

  1. Click the “Browse Notes” link after logging into your account.
  2. Click the “Download All” link at the bottom of the page (see screenshot highlighted by red oval).
  3. Open the spreadsheet from your downloads folder.
  4. Locate the columns titled “Job Title” and/or “Employer”.
  5. Scroll through the spreadsheet and highlight the notes with the “Job Title”  or “Employer” that you wish to buy.
  6. Re-enter the Lending Club loan application database, and locate those notes by any process you find the most efficient. (I find that locating the note by state, then interest rate works best: 1) filter all notes by the state on your chosen note, 2) sort the state filtered notes by interest rate, 3) confirm the note in the database is the note in your spreadsheet by the Loan ID# and Note ID#. This takes less than a minute or two once you get the hang of it.)

And it’s just that simple. Granted, it might be overkill, but I like to invest in a fairly specific subset of Lending Club’s promissory notes.

Therefore, this “Lending Club spreadsheet loan screening hack” provides me with a very efficient means of reviewing Lending Club’s promissory note inventory in one simple spreadsheet. Before using this method, I spent a fairly substantial amount of time individually clicking on each note just to review who a prospective borrower works for and what they do for a living (e.g. job security), whereas now, I can download the spreadsheet, cherry pick the notes based on job security (among other things), and jump back into the database and buy half a dozen notes within 10 to 20 minutes.

I’m sure this feature has a multitude of other uses, so if you are using it for something completely different or have an idea how it can better be used, please let me know in the comments section below.

Quarterly Lending Club Investment Portfolio Updates

December 2010 Update: Currently earning 15.6% NAR on Lending Club investment portfolio.

September 2010 Update: Currently earning 15% ROI on my Lending Club investment portfolio.

June 2010 Update: Currently earning 14.2% ROI on my Lending Club investment portfolio.

March 2010 Update: Currently earning 13.6% ROI on my Lending Club investment portfolio.

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Posted by CJ   @   9 June 2010 16 comments
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16 Comments

Comments
Jun 9, 2010
1:25 pm

Interesting, I didn’t realize you could download the data like that. Great hack – this will come in handy! :)

Jun 10, 2010
11:29 am
#2 Pineview Style :

Sort of off topic, I have looked into joining LC as an investor in the past, but my state is not on the list of eligible states (NC). Does anyone know if they are going to change those requirements? Thanks!

Jun 10, 2010
12:02 pm
#3 Matt SF :

@ Pineview Style

Great question! I believe that each state has the ability to “drag its heels” as much as it wants when reviewing new financial products, so I don’t have any idea how long the review/approval process might take. However, you might want to ask Lending Club directly what North Carolina’s delay might be. I believe the best email would be “support@lendingclub.com”.

If it were me, I would also ask Lending Club which agency is responsible for the delay – North Carolina Legislature, Treasury, etc. Once identified, I’d be writing a letter or two to the responsible party or parties to get Lending Club as an approved investment for my state.

Jun 10, 2010
5:31 pm
#4 Pineview Style :

Thanks! I’ll have to look into that!

Jun 14, 2010
9:30 am

Cool Hack! I never noticed that feature on the site. I have to do some manual filtering that’s not available in their filtering.

Jun 17, 2010
12:20 pm
#6 dv :

I just found out today that a Lending Club account can be followed in Mint.com! Now I can monitor my LC portfolio in the same financial snapshot along with all my other accounts/investments.

Jul 14, 2010
11:26 am
#7 Josh B :

@Matt SF : It might be easier to find the loan by crafting a URL to the full loan listing- it uses the loan ID and there is an “invest” button on the page if you are logged in to LC. The format is currently: https://www.lendingclub.com/browse/loanDetail.action?loan_id=123456 where 123456 is the loan ID, but of course they could change that at any time.

Jul 14, 2010
8:11 pm
#8 Matt SF :

That’s a good tip! I’ll give this a try next time I’m using Lending Club’s loan application platform.

Jul 15, 2010
6:08 pm
#9 Matt SF :

Josh,

Just wanted you to know your method worked very well when trying it today!

Thanks for the tip! Saved me lots of time.

Dec 30, 2010
11:14 pm
#10 Hank :

North Carolina finally gave their blessing to invest through Lending Club this November!

Dec 30, 2010
11:14 pm
#11 Hank :

I didn’t realize you could download the data like that. Great tip, Matt. Thanks!

Dec 31, 2010
9:03 am
#12 Matt SF :

Is there a list where this info is routinely updated? I’ve looked for it on and off, but can’t seem to find it.

Dec 31, 2010
9:03 am
#13 Matt SF :

Thanks man. I use it to quickly screen for qualitative analysis; job security screens mainly.

Jan 4, 2011
11:13 am
#14 JLW :

DV –

I tried opening creating the mint link to LC the other day with no success. Is there a trick to it?

Thanks!

Apr 5, 2011
10:45 am
#15 Kevin Gibson :

Anyone written an excel macro or sheet that they dump these data into and then use it to do analysis against the criteria they use to find loans?

Willing to share the Excel doc / criteria you use?

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