zcommodore

Some of us are still bidding, so let me ask...

Was there / is there anything to be learned from the DQ/BK loans? Red flags that weren't so obvious at the time, maybe?

Why is this blog post tagged with "Good news for QAB?"

It turns out that you were (if perhaps unwittingly) one of the leading turd polishers in the GL community. You were blinded by the desire to make loans happen to what intrinsically were bad borrowers, but different from other lenders, you didn't just lend your own money, you advocated and solicited funds from other lenders as well.

I don't recall that you ever apologized to the lending community on the forums for the way that you mislead them.

As far as GLs with bad groups go, you pretty much got of scott-free compared to some other GLs.

Someone should tally up the dollar amount lenders lost compared to what you lost in the same loans.

Well, Moron, if you made your comment using a recognizable lender name rather than hiding behind a sock puppet, I might feel like responding. As it is I have no interest in responding to nameless critics.

NewHorizon, if anyone is still bidding on people with very low credit scores, non-zero delinquent account borrowers, then they should know the risks and that they're very high. I have one borrower in my group with many DQ's who's been current on her loan for a long time and I expect it to stay that way. I trusted people to keep their word back then, but now I know people will say anything if they think they can get money out of the deal. Trust the numbers and play the averages. Use the descriptions to eliminate bad trends as much as possible beyond that.