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Saamee
04-08-2016, 06:32 PM
Small 5K loan listed >



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




54%

6 days and 16 hours
B1
13.97%
Personal
36 months
$5,250.00




Loan all filled by 7:30pm!

AndyKiwi
04-08-2016, 06:37 PM
Small 5K loan listed >



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




54%


6 days and 16 hours
B1
13.97%
Personal
36 months
$5,250.00



Hmm... Didn't receive text for this loan.

PennyPicker
04-08-2016, 06:54 PM
Hmm... Didn't receive text for this loan.

Hey mate, yep really sorry about that. Saamee alerted me to the problem but unfortunately it was 87% funded and by the time I rejigged things the loan was full. I'm working on a fix now that'll go live in the next hour or so. I'm implementing a feature ensure this never recurs.

PP.

AndyKiwi
04-08-2016, 07:15 PM
Thanks PP for your quick help as always. You rock!

mp52
05-08-2016, 11:01 AM
Hey PennyPicker,

Thanks for the reply and excuse the late response.



Thanks mp52.

1. The service is free at the moment and that's the way I imagine it'll remain; I have polled a few of the early beta users on payment models and it's tough...

The donation model sounds pretty good - preferable for more modest investors who might not see brilliant ROI on a subscription model. I suppose you a freemium model could work with delayed data for the free plan but the loans are filling so quick it'd be hard to make that work without frustrating the new adopters on the free plan. So far there haven't been enough loans coming through for me to utilise the service fully though I'm not sure its working correctly as I didn't receive TXTs for any of yesterdays loans (have received one since joining start of this week).



2. No strictly speaking I'm in breech of the Web Site Terms of Use; So I've pinged them an email explaining the situation, just so there's no doubt, I want to be above board here...


Good stuff - would be annoying to do all this work and then get hobbled at the source.

Keep up the great work!

PennyPicker
05-08-2016, 11:37 AM
Hi mp52, I'll take most off this off-line; but for the group;


I'm not sure its working correctly as I didn't receive TXTs for any of yesterdays loans (have received one since joining start of this week).!

A bug (now fixed) let the 7pm loan last night creep through without a notification going out. I know this is the only of it's kind and it won't happen again. I'll follow up on why you didn't receive a message for the earlier loan.

I've spoken to one of the founders and he acknowledges the breach, but is OK with what I'm doing here. He was really good about it. So as I told him, "I'll continue to tinker".

PP.

Saamee
05-08-2016, 11:58 AM
Hi mp52, I'll take most off this off-line; but for the group;



A bug (now fixed) let the 7pm loan last night creep through without a notification going out. I know this is the only of it's kind and it won't happen again. I'll follow up on why you didn't receive a message for the earlier loan.

I've spoken to one of the founders and he acknowledges the breach, but is OK with what I'm doing here. He was really good about it. So as I told him, "I'll continue to tinker".

PP.

PP's service is provided to our LC community for free.

I view the service as additional to still making sure I'm logging in myself... regularly ( at least 2 time every hour )

PP's offering us a service that I have always thought ( and also requested from multiple times ) LC & HM should be offering.

Hell, Marcus ( CEO ) from Lends Me can send a personal Email to me and update me regarding a loan that fits my criteria is available...

I guess as long as LC & HM always have more Investors ( and their money ) than there are loans, they will never see the need to offer Alert Notifcations for their own products.

To boot.... With an almost 'Locked In' interest rate cut next week, the Investor Returns with LC & HM look AMAZING!

Saamee
05-08-2016, 12:10 PM
What are the driving reasons for your P2P investments?

I wonder if anyone else would like to enter into this and share...

For me it is three fold:

#1) Obviously to return a Higher interest rate than any high street bank

#2) To be more diversified - an alternative to NZ Property, Bank Term Deposits and Shares

#3) Build a passive income stream from P2P be double the weekly NZ Pension
I still have the best part of a decade left to achive that!
A slow weekly 'Drip Feed' into new P2P loans, built up over a couple of years.

Any other takers out there???

PennyPicker
05-08-2016, 12:35 PM
Good question Saamee...


What are the driving reasons for your P2P investments?


Diversification in addition to cash/bonds/shares
High ROR over other investments
Passive income stream for retirement
It's a bit of fun, figuring out the key drivers to maximise return while minimising defaults (work in progress!). (If I'm not above platform RAR I'm not getting the results I want. Yes, a little competitive ;))

Minvestor
06-08-2016, 08:30 AM
Why? Many of the same reasons. But mostly, because I am retired and was trying to live off the interest from bank FDs -- which was OK until interest rates started dropping. I still have FDs of 4.5 and 5.5 % until next year, so am starting to build up a portfolio of LC loans to test whether this would be a reasonable, reliable, way to fund the rest of my retirement. Thus, I am focused on more conservative LC loans that will suffice my income needs. No real need to increase capital. So,

1. Income to live on in a low-interest environment

is about the only reason.

Cool Bear
06-08-2016, 12:00 PM
my reasons are the same
diversification
trying to increase returns on portfolio as interest rates are so low
and also a bit of fun trying to increase RAR (esp on Harmoney) - like PP, I do try to be above the platform RAR. With LC, I am just happy with my current 12.60 and not looking at trying to make it higher or lower by taking more or less risk. I just look at each loan on its own merits and invest the same amount in every loan.

saruman
07-08-2016, 09:21 AM
I am also above the RAR on Harmony, but having only joined LC find there are not many loans to invest in.

Saamee
07-08-2016, 05:15 PM
Another quiet weekend again for any new Loans appearing @ LC...

Soolaimon
08-08-2016, 01:07 PM
Another quiet weekend again for any new Loans appearing @ LC...
One there now, and I was first in !!!! That has not happened before..........

Saamee
08-08-2016, 01:13 PM
One there now, and I was first in !!!! That has not happened before..........



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 21 hours
A1
8.42%
Personal
60 months
$45,450.00

whitt
08-08-2016, 02:01 PM
Latest is a car loan for 45k.you can get a really good car for that price

Cool Bear
08-08-2016, 02:05 PM
Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





6 days and 21 hours
A1
8.42%
Personal
60 months
$45,450.00



Hi PP, just to let you know that I received 3 texts on the above from Provance. 3rd one at 3:00:14pm, second one at 2:39:35pm and the first one earlier (deleted, so not sure what time). Thanks again CB.

PennyPicker
08-08-2016, 02:18 PM
Hi PP, just to let you know that I received 3 texts on the above from Provance.

Hi CB, yep sorry about that. The same loan was incorrectly triggering alerts. Fixed for the moment. Really sorry to everyone who received multiple alerts. Not good form on my part I'm sorry.

PP.

Saamee
08-08-2016, 02:26 PM
Latest is a car loan for 45k.you can get a really good car for that price

Or even 2 x Small brand new cars!!

Cool Bear
08-08-2016, 06:35 PM
Hi CB, yep sorry about that. The same loan was incorrectly triggering alerts. Fixed for the moment. Really sorry to everyone who received multiple alerts. Not good form on my part I'm sorry.

PP.
No problem at all PP. Thanks for doing this. Saves all of us a lot of time. Much appreciated.

Saamee
09-08-2016, 09:57 AM
Small 8K loan up now.....



65%


7 days and 1 hour
A1
7.90%
Personal
36 months
$8,750.00

Saamee
09-08-2016, 06:45 PM
New loan this evening already 58% filled....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




58%


16 hours and 15 minutes
A2
10.96%
Personal
36 months
$6,250.00
$0.00

Saamee
09-08-2016, 07:06 PM
New loan this evening already 58% filled....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




58%
16 hours and 15 minutes
A2
10.96%
Personal
36 months
$6,250.00
$0.00




Did anyone get a Provance alert for the above loan # 229??

I did not this time :(

AndyKiwi
09-08-2016, 07:10 PM
Neither did I.

PennyPicker
10-08-2016, 07:09 AM
Hi team, the only reason I can see that this wasn't alerted on was because it came and went so quickly. Would that be the case? i.e. was it only active for maybe 30 minutes?

mp52
10-08-2016, 08:08 AM
Hi team, the only reason I can see that this wasn't alerted on was because it came and went so quickly. Would that be the case? i.e. was it only active for maybe 30 minutes?

Hi, got your PM regarding missing notifications. Will sit tight for now as I got the alert on the 8 Aug for the A1/8.42% (via email) and like others have reported got no alert on the 9 Aug A1/7.90%. Will see what happens over the next day or two.

In terms of loans filling too fast for the polling interval of the app - could be the case. Can you push the interval frequency up without ruffling LC's feathers!

PennyPicker
10-08-2016, 09:28 AM
Can you push the interval frequency up without ruffling LC's feathers!
LOL, that's been my concern. But I've wound it right down (to increase the frequency of checking) today, we'll see...

Saamee
10-08-2016, 10:47 AM
Did anyone get a Provance alert for the above loan # 229??

I did not this time :(

Last night if you invested in this loan, could you respond back and tell us appox what time it was? Thanx.

Kelvin
10-08-2016, 10:49 AM
Last night if you invested in this loan, could you respond back and tell us appox what time it was? Thanx.

I did at ~8pm

Saamee
10-08-2016, 12:51 PM
I did at ~8pm

Thanx for the reply Kelvin.

We're just trying to ascertain how long the Loan was available for.

Cool Bear
10-08-2016, 01:34 PM
Loan was still available after 9pm but with only $200 left.

Saamee
10-08-2016, 01:56 PM
Loan was still available after 9pm but with only $200 left.

Thanks for the reply CB

Saamee
10-08-2016, 03:15 PM
How well!! Overnight 1 x Borrower chnaged their mind and Cancelled the filled loan and I had another early repayment also!

Saamee
10-08-2016, 05:20 PM
New loan @ 6.20pm




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 17 hours
B2
19.36%
Business
36 months
$10,250.00




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 17 hours
B2
19.36%
Business
36 months
$10,250.00

whitt
10-08-2016, 05:57 PM
Are other people getting complacent with these loans now also?
I began reading all the data about each borrower but have begun to find 100% have met my investing rules.
I am beginning to not even read data before investing now.

Saamee
10-08-2016, 06:28 PM
Are other people getting complacent with these loans now also?
I began reading all the data about each borrower but have begun to find 100% have met my investing rules.
I am beginning to not even read data before investing now.

Hi Whitt,

Complacent No.

However understand your sentiment, I agree that the quality of the loans offered by LC does seem high ( time will tell or rather timely loan repayments being made! )

I still read ALL the info and on occassion have found a few errors in the data provided by LC in the listing.

Rgds Saamee

whitt
10-08-2016, 06:58 PM
The quality of loans is amazing when you compare it to the Harmoney garbage I am used to investing with.
Now I have many choices.
Lower returns but secure and higher quality, lending crowd
High returns, unsecured, low quality Harmoney.

Hopefully they both stay this way as it makes investing much easier.

Saamee
10-08-2016, 07:43 PM
New loan @ 6.20pm




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





6 days and 17 hours
B2
19.36%
Business
36 months
$10,250.00




All gone by 8.43pm

PennyPicker
10-08-2016, 08:04 PM
Yes, I'm just soaking these up. Is the scarcity affecting my decision making...

own4d
10-08-2016, 10:04 PM
All gone by 8.43pm
Damn, looked like a good one, text received at 2220, is this normal?

PennyPicker
10-08-2016, 10:35 PM
text received at 2220, is this normal?
No it's not. I'm working with the support guys for the SMS API service because some users haven't been receiving texts. Looks like they triggered a resend of the last message round.

mp52
11-08-2016, 08:00 AM
No it's not. I'm working with the support guys for the SMS API service because some users haven't been receiving texts. Looks like they triggered a resend of the last message round.

Just noting I didn't get an alert for yesterday's 6.30pm listing.

Darchie
11-08-2016, 03:23 PM
A loans just listed

Saamee
11-08-2016, 03:30 PM
A loans just listed

Thanx Darchie.... Got into it!!

Here is the rest of the info...



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




43%


6 days and 19 hours
B1
14.79%
Personal
60 months
$32,350.00

Kelvin
11-08-2016, 03:34 PM
How well!! Overnight 1 x Borrower chnaged their mind and Cancelled the filled loan and I had another early repayment also!

1 early repayment showed up on my account today. Will I have to wait 1 week before I get all the funds back from that loan?

Saamee
11-08-2016, 03:49 PM
1 early repayment showed up on my account today. Will I have to wait 1 week before I get all the funds back from that loan?

Hi Kelvin,

You would have already got the money back the previous nght.

They pay the Investor and then close the loan off the next night.

Was it LN000-013-380 by any chance??

Kelvin
11-08-2016, 04:11 PM
Thanks, I see that I've received the repayment yesterday. Seems my brain can't keep up with all the deposits, orders, repayments etc. going on.

Mine was loan -387

What does everyone think of 36 month A1 loans @ 7.9%? Squirrel offers up to 8.5% for 36 month loans as well as loan shield, secondary market, no extra interest flex to pay. So I reckon Squirrel have a better offering here, and loan shield is better than security against vehicles/property in protecting against capital loss?

Saamee
11-08-2016, 04:16 PM
Thanks, I see that I've received the repayment yesterday. Seems my brain can't keep up with all the deposits, orders, repayments etc. going on.

Mine was loan -387

What does everyone think of 36 month A1 loans @ 7.9%? Squirrel offers up to 8.5% for 36 month loans as well as loan shield, secondary market, no extra interest flex to pay. So I reckon Squirrel have a better offering here, and loan shield is better than security against vehicles/property in protecting against capital loss?

Inetresting question to ask today!!

RBNZ lower interest rate to 2%...... Nearly 8% sounds very good....

Joking aside, I get you.... I tend to not invest in the 7.9% loans because you know there is a higher rate loan around the corner.....

BUT an near 8% return is an near 8% return........ Much better than money in the bank!

Bjauck
12-08-2016, 08:59 AM
Inetresting question to ask today!!

RBNZ lower interest rate to 2%...... Nearly 8% sounds very good....

Joking aside, I get you.... I tend to not invest in the 7.9% loans because you know there is a higher rate loan around the corner.....

BUT an near 8% return is an near 8% return........ Much better than money in the bank! I see ANZ have increased the interest rate on 18 month term deposits to 3.6% - up from 3.3% I think.

Saamee
12-08-2016, 12:05 PM
New loan available....

8216

Saamee
12-08-2016, 02:34 PM
Anyone else sighted this stubbon annoying Loan in Arrears that has not been made good now after 7 days???

8217

humvee
12-08-2016, 04:04 PM
Anyone else sighted this stubbon annoying Loan in Arrears that has not been made good now after 7 days???

8217


Ive got that one too, To be honest as 7 days on a secured loan Im not to worried - if something goes wrong or a payment fails to clear many people wont be able to fix until next payday - be it weekly, fortnightly or monthly. So still within a single pay period even for someone on weekly pays.

35 days+ is when you have a issue as It always covers a pay period and 2 payments due and allows for clearance times

I wish harmoney gave me an easy way to find all loans that are in arrears by 35 days or more (I only have 2 arrears on lending crowd so its easy to find on there)

My current arrears is 25% higher then EVER before on harmoney - so im expecting another big round of write off's before the 20th-21st

Darchie
12-08-2016, 04:48 PM
Anyone else sighted this stubbon annoying Loan in Arrears that has not been made good now after 7 days???


8217

I haven't got that loan ... 012 617.... But do have 012 586 and it's 7 days in arrears also

Saamee
12-08-2016, 06:49 PM
New loan up @ 7:38pm Friday....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





6 days and 16 hours
A2
11.87%
Personal
60 months
$30,350.00
$

Saamee
12-08-2016, 07:23 PM
And yet another new loan @ 8:15pm



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 15 hours
A2
10.96%
Personal
36 months
$8,250.00

Saamee
13-08-2016, 01:04 AM
Anyone else sighted this stubbon annoying Loan in Arrears that has not been made good now after 7 days???

8217

So does this now mean that the Borrower has made a payment FRI night = Now gone back to Zero Days overdue... But $$ amount on the account stayed the same?

8218

Darchie
13-08-2016, 05:35 PM
Another loan just listed ...

whitt
13-08-2016, 06:24 PM
Damn I have run out of LC funds in my account. After a quiet start to week there seems to been a few good loans in the last couple of days

Darchie
13-08-2016, 06:33 PM
Damn I have run out of LC funds in my account. After a quiet start to week there seems to been a few good loans in the last couple of days
Same here ... have about $2 so ive been just watching to last couple of loans .. mindyou have some funds sitting there awaiting clearance

Kelvin
13-08-2016, 06:54 PM
A shame they don't clear funds on Saturdays unlike Squirrel and Harmoney

Saamee
13-08-2016, 08:55 PM
Yep... Here are the details:



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




71%


5 days and 14 hours
A2
11.87%
Personal
60 months
$30,350.00

View
Buy





8 days and 14 hours
B2
19.75%
Business
60 months
$10,250.00

PennyPicker
13-08-2016, 09:29 PM
Damn I have run out of LC funds in my account. After a quiet start to week there seems to been a few good loans in the last couple of days
I've been caught sort too.

Sorry for the late Provance notification guys, I found the error literally as we were leaving for the CSO. Fixed now and won't happen again (seems loans can have Guarantors which I hadn't allowed for).

Saamee
13-08-2016, 11:21 PM
Good to see a busy LC Loan weekend...... I make it 3 Loans Listed since Friday arvo :)

Saamee
14-08-2016, 11:33 AM
New loan up Sunday Lunchtime....



7 days and 23 hours
B1
13.97%
Personal
36 months
$8,250.00

whitt
14-08-2016, 12:25 PM
New loan up Sunday Lunchtime....



7 days and 23 hours
B1
13.97%
Personal
36 months
$8,250.00


Not funny . After a week of quiet that now makes 3 loans whilst I have zero funds available to buy.
Roll on Monday.

Saamee
14-08-2016, 12:33 PM
Not funny . After a week of quiet that now makes 3 loans whilst I have zero funds available to buy.
Roll on Monday.

Yes so busy, I find myself out of $ Ammo too now! :(

kiwi_on_OE
14-08-2016, 09:02 PM
As LC seem to be getting more loans, so I'm starting to look at them. I can see three loans at the moment, all with vehicles as security. A couple of questions for you guys, i) is vehicle security fairly typical? ii) do LC give any indication of the LTV ratio? iii) do LC have any info/graphs about default rates, past loan performance etc. like Harmoney?

Saamee
14-08-2016, 10:27 PM
As LC seem to be getting more loans, so I'm starting to look at them. I can see three loans at the moment, all with vehicles as security. A couple of questions for you guys, i) is vehicle security fairly typical? ii) do LC give any indication of the LTV ratio? iii) do LC have any info/graphs about default rates, past loan performance etc. like Harmoney?

Hi K.on.O

> By far the majority of LC loans are Only stated as with vechicle security - maybe 85%

> The other 15% would be with a Mortgage and \ or Mortgage plus car

> Perhaps just 5% of All loans the Borrower takes out Death Cover

> Did you mean the LTV of the car to the loan? If so no. If you phone them up and ask they will say a mixture of Car as security plus Income.

> No performance feedback yet ( like Harmoney does ) but it will be coming ( they have only been going 8 months so far ). They have gone out for finance to expand and I think statisitcs will come after that )

Minvestor
15-08-2016, 09:25 AM
A shame they don't clear funds on Saturdays unlike Squirrel and Harmoney

Yes! A long wait between moving money in Friday, and having it appear early Monday. Clearly they have people working over the weekend to get the loans up (unless the machines have taken over), so surely it could be possible?

Kelvin
15-08-2016, 09:31 AM
Yes! A long wait between moving money in Friday, and having it appear early Monday. Clearly they have people working over the weekend to get the loans up (unless the machines have taken over), so surely it could be possible?

Yes, definitely possible. I think Squirrel processes funds automatically as I usually get a deposit confirmation emails at 6:31am and loan drawdown emails at 6:32am - so there must be some batch job that does this overnight.

Meanwhile LC must do it manually (they must get sick of me putting in $50 at a time :p)

PennyPicker
15-08-2016, 09:47 AM
My suspicion is that the increase in loans has created an increase in money in, and maybe they're not processing that 'as quickly' because of the volume. The clearing of funds will have to be automated if they want to grow and scale efficiently. It'll come.

Luckily funds I pushed through on Friday cleared before 9 this morning... Thanks LC, it was close ;)

Saamee
15-08-2016, 11:18 AM
Yet another new loan up @ LC - Monday Lunchtime :)



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 23 hours
A2
11.87%
Personal
60 months
$6,250.00

kiwi_on_OE
16-08-2016, 12:39 AM
Hi K.on.O

> By far the majority of LC loans are Only stated as with vechicle security - maybe 85%

> The other 15% would be with a Mortgage and \ or Mortgage plus car

> Perhaps just 5% of All loans the Borrower takes out Death Cover

> Did you mean the LTV of the car to the loan? If so no. If you phone them up and ask they will say a mixture of Car as security plus Income.

> No performance feedback yet ( like Harmoney does ) but it will be coming ( they have only been going 8 months so far ). They have gone out for finance to expand and I think statisitcs will come after that )

Thx Saamee. Yes, I did mean loan to car/house ratio. I'm surprised they don't show the LTV. Perhaps not worth the paper it's printed on for a car, and barely better than nothing. Their interest rates seem to be similar the A and B categories on Harmoney, so presumably a similar performance expected.

Darchie
17-08-2016, 07:31 AM
Thx Saamee. Yes, I did mean loan to car/house ratio. I'm surprised they don't show the LTV. Perhaps not worth the paper it's printed on for a car, and barely better than nothing. Their interest rates seem to be similar the A and B categories on Harmoney, so presumably a similar performance expected.

I've always wondered, when they list security as property/properties (or something similar) it smacks as if property just might be a sofa, fridge or freezer or the likes .. and if it's a house given up for security i can't see it being a first mortgage. ... so is it 2nd mtge or even 3rd mtge .... frankly both being as ugly as each other! Just my thoughts here.

But certainly so far LC has had a smooth clean run with not building a sturdy list of arrears.

Saamee
17-08-2016, 11:59 AM
New loan just up....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 23 hours
B1
13.97%
Personal
36 months
$14,650.00

Saamee
17-08-2016, 01:00 PM
Another new loan WED Arvo:





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




62%


6 days and 22 hours
B1
13.97%
Personal
36 months
$14,650.00

View
Buy





6 days and 22 hours
B1
14.79%
Personal
60 months
$5,750.00

whitt
17-08-2016, 01:16 PM
Provance email notifications have begun this afternoon also to accompany the text messages.

PennyPicker
17-08-2016, 02:02 PM
Provance email notifications have begun this afternoon also to accompany the text messages.

Hey whitt, sorry if I doubled up for you. I did send a couple of emails by hand because the API I'm using for SMS messages shows for a couple of numbers they're not being delivered (obviously for yourself at least this isn't right). The support desk are being very helpful in resolving these problems.

I apologise to anyone who received an email in addition to their preferred SMS method.

Saamee
17-08-2016, 02:42 PM
It's new loan Wednesday!!!





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 20 hours
B1
14.79%
Personal
60 months
$24,350.00

whitt
17-08-2016, 03:13 PM
Wow I will need deposit even more funds into account again.
LC are bringing in some good loans currently .

Saamee
18-08-2016, 10:29 AM
50K loan up THU morning...



48%


7 days
A2
10.96%
Personal
36 months
$49,450.00

Kelvin
18-08-2016, 10:45 AM
A friendly reminder to consider depositing funds tonight so that you'll have some available over the weekend :)

Saamee
18-08-2016, 10:58 AM
A friendly reminder to consider depositing funds tonight so that you'll have some available over the weekend :)

Exactly... If THIS weekend is anything like the same Activity last weekend....... :)

Saamee
18-08-2016, 01:03 PM
THU Arvo new loan just up:



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







21 hours and 56 minutes
B1
14.74%
Business
36 months
$15,250.00
$0.00

whitt
18-08-2016, 03:20 PM
A friendly reminder to consider depositing funds tonight so that you'll have some available over the weekend :)
And dont forget to also select pending deposit in your LC account too.
They use it as a security measure before allocating the deposit into your account

PennyPicker
18-08-2016, 05:52 PM
Thanks whitt, always wondered if there was a tie in or not.

Saamee
18-08-2016, 06:39 PM
New Loan THU Evening....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







16 hours and 21 minutes
B2
18.74%
Personal
36 months
$12,250.00

PennyPicker
18-08-2016, 06:43 PM
This is unprecedented; four loans up at once.

(I don't think I topped up enough...)

emveha
18-08-2016, 07:03 PM
This is unprecedented; four loans up at once.

Yes, I've got the feeling that LC is picking up some steam these days.

Kelvin
18-08-2016, 07:12 PM
New Loan THU Evening....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







16 hours and 21 minutes
B2
18.74%
Personal
36 months
$12,250.00



21 years old, 9 enquiries, less than 1 year at address and employer. I'd expect this one too be E or F grade in Harmoney. Luckily there's enough loans in LC these days to be picky

whitt
18-08-2016, 10:09 PM
21 years old, 9 enquiries, less than 1 year at address and employer. I'd expect this one too be E or F grade in Harmoney. Luckily there's enough loans in LC these days to be picky
I guess the fact this loan thru LC has security ensures it is a lower grade type than Harmoney tho.

mp52
19-08-2016, 08:03 AM
21 years old, 9 enquiries, less than 1 year at address and employer. I'd expect this one too be E or F grade in Harmoney. Luckily there's enough loans in LC these days to be picky

Yeah, walked around that one too. Had got a bit blaise about reviewing stats on each loan but this was something of a wake-up.

Minvestor
19-08-2016, 09:29 AM
LC selling futures now? On 19/8...!



LN000-015-870
B1
Personal
36 months
13.97%
$XXX.00
24/08/2016
0
$0.00
$0.00

Kelvin
19-08-2016, 10:11 AM
I have one like that too, but loan ID 851.

Maybe the borrower has asked for a future drawdown or repayment date?

Soolaimon
19-08-2016, 10:15 AM
Yeah, walked around that one too. Had got a bit blaise about reviewing stats on each loan but this was something of a wake-up.

I agree. I am now also being more selective on this platform.

whitt
19-08-2016, 07:00 PM
50K loan up THU morning...



48%


7 days
A2
10.96%
Personal
36 months
$49,450.00


it's now at 95% been hanging around awhile compared to the norm.

Minvestor
19-08-2016, 07:05 PM
I have one like that too, but loan ID 851.

Maybe the borrower has asked for a future drawdown or repayment date?

Maybe, but I wish they wouldn't do this - it messes with my spreadsheet -- drawdown date should be just that, I think.

whitt
21-08-2016, 02:59 PM
Exactly... If THIS weekend is anything like the same Activity last weekend....... :)
I guess this weekend wasn't the same as last.
All prepared with funds in account and zero came up.
:mad ;:

Minvestor
21-08-2016, 03:34 PM
I guess this weekend wasn't the same as last.
All prepared with funds in account and zero came up.
:mad ;:
Yes, me too.

Come on, you guys, let's get 258 finished!

whitt
21-08-2016, 04:04 PM
Yes, me too.

Come on, you guys, let's get 258 finished!
Note for my future self:
40k (258) loans are slow to uptake, maybe there are less investors than I thought on LC.

Saamee
21-08-2016, 04:56 PM
Note for my future self:
40k (258) loans are slow to uptake, maybe there are less investors than I thought on LC.

Just like magic... 258 It's gone!!

Saamee
22-08-2016, 10:59 AM
New loan up Midday Monday:



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







7 days
B1
13.97%
Personal
36 months
$9,950.00

Saamee
22-08-2016, 12:38 PM
2nd Monday loan ( almosr gone )



97%


6 days and 22 hours
A2
10.96%
Personal
36 months
$4,850.00

Saamee
22-08-2016, 07:37 PM
Interesting P2P write up in todays Herald....

http://www.nzherald.co.nz/best-of-business-analysis/news/article.cfm?c_id=1501241&objectid=11697445

Saamee
24-08-2016, 02:11 PM
New loan up WED arvo...



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







20 hours and 49 minutes
B2
18.74%
Personal
36 months
$3,250.00

Saamee
24-08-2016, 02:29 PM
New loan up WED arvo...



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





20 hours and 49 minutes
B2
18.74%
Personal
36 months
$3,250.00




Wow 3K fills fast - Gone already!!

CR111
24-08-2016, 02:32 PM
Lucky I have the alerts, otherwise I would definitely have missed this one.

Saamee
24-08-2016, 02:39 PM
Lucky I have the alerts, otherwise I would definitely have missed this one.

Exactly. Is there any one who reads this LC board that IS NOT on Provance Alerts yet??

permutation
24-08-2016, 10:21 PM
Exactly. Is there any one who reads this LC board that IS NOT on Provance Alerts yet??
Me, I just take pot Luck!

Saamee
25-08-2016, 08:56 AM
New loan up THU morning...




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







7 days and 2 hours
A1
7.90%
Personal
36 months
$10,250.00





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







7 days and 2 hours
A1
7.90%
Personal
36 months
$10,250.00

PennyPicker
25-08-2016, 09:52 AM
Is there any one who reads this LC board that IS NOT on Provance Alerts yet??
The users are still growing organically, by word of mouth I guess; Up to 50 user accounts now. (How many LC investors in total?)

Some users have configured specific filters, e.g. they only want 36 month loans, or no A1 grades etc. But each time a loan is issued about 45 notifications are sent by Provance. And, challenging my assumptions about how people would use the service, most people actually choose email notifications over SMS (57%).

It's a little tricky then with the filters to be absolutely sure that people are getting the notifications they expect; If you are not receiving alerts when you think you should be please send me a PM.

Also, a user in the UK requested access last week, so we now have NZ, AU and UK users registered. If you know anyone abroad that might want to sign up feel free to spread the word.

Kelvin
25-08-2016, 10:12 AM
In the news 1-2 months ago, they had 165 active investors. So ~1/3 using Provance.

Alerts been working well for me, so thanks very much!

I have been using a mail rule to forward my alerts to IFTTT where I get push notifications. That way I can very easily turn them on/off depending on if I'm investing or not.

Saamee
30-08-2016, 09:01 AM
TWO new loans up TUES morning......





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







1 day and 2 hours
A2
11.87%
Personal
60 months
$25,350.00

View
Buy





7 days and 2 hours
B1
14.79%
Personal
60 months
$30,350.00

Saamee
31-08-2016, 02:39 AM
New loan up.....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







8 hours and 21 minutes
A1
7.90%
Personal
36 months
$15,600.00

humvee
31-08-2016, 07:16 AM
New loan up.....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





8 hours and 21 minutes
A1
7.90%
Personal
36 months
$15,600.00





That loan is probably the lowest interest rate I have seen on any of the p2p platforms for a non home owner (boarding) with a relatively short time both in job and at addresses

Funded:
32%




Funding remaining:
$10,550.00



Time remaining:
3 hours and 45 minutes


My investment:
$0.00




Grade:
A1


Gross interest rate:
7.90%



Type:
Personal


Security:
Vehicle(s)



Purpose:
Vehicle purchase


Monthly payment:
$488.13



Amount:
$15,600.00


Death cover:
No



Term:
36 months








BorrowerLocation:
Auckland


Monthly income:
Between $4000 and $7000



Home:
Board


Monthly outgoings:
$3,000.00



Time at address:
Less than 1 year


Credit:
Excellent



Age:
32


Credit file age:
6 years



Employment:
Salaried employee


Enquiries*:
2



Time in job:
Between 1 and 2 years


Defaults**:
None



Time in previous job:
Less than 1 year

CR111
31-08-2016, 08:53 AM
Yep, I wasn't even close to being tempted at that rate.

Saamee
31-08-2016, 09:19 AM
Another new loan up...



7 days and 1 hour
B1
13.97%
Personal
36 months
$10,250.00

Saamee
31-08-2016, 09:19 AM
Yep, I wasn't even close to being tempted at that rate.

I kind of agree with you....

BUT

My logic says 7.9% ( minus fees ) is still better than the 1% ASB pay me on my play money!!

Saamee
31-08-2016, 01:08 PM
New loan WED Arvo....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 21 hours
A1
8.42%
Personal
60 months
$15,250.00

Bjauck
31-08-2016, 01:58 PM
That loan is probably the lowest interest rate I have seen on any of the p2p platforms for a non home owner (boarding) with a relatively short time both in job and at addresses...


Would someone who lives in a house owned by a family trust be categorised as a homeowner? After all, legally they would not actually own the home and if they become insolvent, the family trust assets would likely be unavailable for creditors such as Lending Crowd.

Kelvin
31-08-2016, 04:31 PM
Yep, I wasn't even close to being tempted at that rate.

As I mentioned earlier, Squirrel offers 8.5% net of fees for 3 year terms, and loan shield offers better protection than a security on the loan.

So I think A1 loans here are a poor offering compared to competing P2P platforms. I still have 4-5 in my portfolio though, which I bought to quickly get my initial investment working.

Saamee
01-09-2016, 11:17 AM
6 days and 23 hours
A1
7.90%
Personal
36 months
$15,250.00

whitt
01-09-2016, 11:28 AM
6 days and 23 hours
A1
7.90%
Personal
36 months
$15,250.00



another with low returns
Pass

Saamee
01-09-2016, 11:38 AM
another with low returns
Pass

Yes. I'm passing these one from now on too...

Like KELVIN stated - better putting money in Squirrel at these rates :)

Bjauck
01-09-2016, 02:25 PM
Interesting to see that Lending Club has token Chinese writing on its main page. Chinese is not an official language of NZ, so how about NZ's other written official language - Maori?

CR111
01-09-2016, 02:27 PM
Interesting to see that Lending Club has token Chinese writing on its main page. Chinese is not an official language of NZ, so how about NZ's other written official language - Maori?

Lending Club?

Saamee
01-09-2016, 02:42 PM
Interesting to see that Lending Club has token Chinese writing on its main page. Chinese is not an official language of NZ, so how about NZ's other written official language - Maori?

Are you sure about that?

Lending Club is USA based. Did you mean Lending Crowd?

Can you send a URL of the Website? Just visited both and seen no Chinese writing?

Bjauck
01-09-2016, 03:42 PM
Are you sure about that?

Lending Club is USA based. Did you mean Lending Crowd?

Can you send a URL of the Website? Just visited both and seen no Chinese writing? Sorry ...I meant the NZ Lending Crowd....and yep when I checked the site on the pc there were chinese characters instead of the images of the tick, % etc on the home page. When I open the site on my tablet now the home page is as per before - without the chinese writing. Maybe I am going crazy :0

Luckily the site was still open on the PC...and I could take a screen cap: 8274

On refresh, the site went back to its normal appearance.

Bjauck
01-09-2016, 06:21 PM
Luckily the site was still open on the PC...and I could take a screen cap:
On refresh, the site went back to its normal appearance.
Perhaps it was the Lending Crowd website team playing around with a new Home page during the day?

Saamee
01-09-2016, 06:29 PM
Perhaps it was the Lending Crowd website team playing around with a new Home page during the day?

Ha ha ha > Getting ready to do some Chinese Money Laundering!!!

Saamee
02-09-2016, 11:18 AM
New loan up FRI morning.....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 23 hours
B1
14.79%
Personal
60 months
$20,350.00

Saamee
02-09-2016, 12:46 PM
Update > Provance Alert System,


Penny Picker,


Thanx very much for building the LC Provance Alerts system.....


My requirements \ needs \ expectations have been fully met by the Alerts.


The LC Alerts appear to have worked 100% correctly now for an extended period of time.


At the coal face... Receiving the Alerts has meant that I have never missed being able to invest in a current LC Loan ( when I have been in Data \ Wi-Fi contact )


Thanks very much :)


Saamee

PS - Have you signed up yet for the Beta Provance Alerts over on the Harmoney site??

PennyPicker
02-09-2016, 02:21 PM
Thank you Saamee.

And thanks to everyone else who is using http://provance.nz/. It's been more successful than I'd have imagined. New users are still signing up, even this morning someone joined.

I created the site as much as a learning opportunity as well as a means to help those here on the forum. The site is free and will probably remain so. But if you do want to give back and contribute towards hosting or SMS messaging costs there is a Donate button on the About (http://www.provance.nz/about) page. Many many thanks to those that have already donated I appreciate your generosity.

Saamee
02-09-2016, 02:41 PM
New loan up FRI arvo....



6 days and 20 hours
B1
13.97%
Personal
36 months
$16,350.00

humvee
02-09-2016, 03:26 PM
Update > Provance Alert System,



PS - Have you signed up yet for the Beta Provance Alerts over on the Harmoney site??


Where do I find the beta harmoney alerts - its working great for lending crowd

Kelvin
02-09-2016, 03:26 PM
Got a B2 loan 10 days overdue now... Loan number 897

Thanks PennyPicker from me too, thought I wouldn't find it useful but now I probably couldn't invest in LC without the alerts

Saamee
02-09-2016, 03:27 PM
Where do I find the beta harmoney alerts - its working great for lending crowd

Hey Humvee,

Just send a Private Message to PENNY PICKER via this sites function....

Also you can Email PP directly via aaron@amorgan.net.nz

Saamee
02-09-2016, 03:53 PM
Got a B2 loan 10 days overdue now... Loan number 897

Thanks PennyPicker from me too, thought I wouldn't find it useful but now I probably couldn't invest in LC without the alerts

Yep I'm in that loan too..... ( I think maybe you meant Loan # 894? )

Saamee
02-09-2016, 04:13 PM
3rd loan today just listed .....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 18 hours
A2
11.87%
Personal
60 months
$20,350.00




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 18 hours
A2
11.87%
Personal
60 months
$20,350.00

Kelvin
03-09-2016, 10:32 AM
Yep I'm in that loan too..... ( I think maybe you meant Loan # 894? )

It's definitely 897, looks like they've caught up with the payment now

Saamee
03-09-2016, 11:55 AM
It's definitely 897, looks like they've caught up with the payment now

OK... I also had a loan that was 10 days overdue and that got made good last night, but that was 894!

Saamee
03-09-2016, 12:52 PM
New loan up SAT arvo....



0%


8 days and 22 hours
A2
10.96%
Personal
36 months
$55,950.00

whitt
05-09-2016, 05:20 PM
in my dashboard a loan has been sitting at "under offer" for several days now.
Is this typical?

Saamee
05-09-2016, 05:51 PM
in my dashboard a loan has been sitting at "under offer" for several days now.
Is this typical?

Hey WHITT > Can you post a screen shot of that? Never seen that before on LC - Currently I see NO loans listed at all?

8284

whitt
06-09-2016, 11:27 AM
Hey WHITT > Can you post a screen shot of that? Never seen that before on LC - Currently I see NO loans listed at all?

8284

8285
Its finally moved from "under offer" to "open" now , It did take several days tho

Saamee
06-09-2016, 11:36 AM
8285
Its finally moved from "under offer" to "open" now , It did take several days tho

Cheers - Now I get you :) Guessing the wait was while the borrower was deciding whether to go with the loan or not!

Saamee
06-09-2016, 01:00 PM
New loan up TUE arvo.....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




51%


6 days and 22 hours
B1
14.79%
Personal
60 months
$8,250.00
$0.00

Saamee
07-09-2016, 03:33 PM
New loan up WED arvo





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




43%


6 days and 19 hours
B1
14.79%
Personal
60 months
$7,250.00

Saamee
07-09-2016, 04:11 PM
Another new loan just up WED arvo.....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 18 hours
A2
11.87%
Personal
60 months
$20,850.00




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 18 hours
A2
11.87%
Personal
60 months
$20,850.00

Saamee
08-09-2016, 12:09 AM
Another loan up!



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 10 hours
A2
11.87%
Personal
60 months
$12,250.00

Darchie
08-09-2016, 07:04 AM
I havent received a txt notification for this as yet.

Saamee
08-09-2016, 07:12 AM
I havent received a txt notification for this as yet.

Yep - This new loan was Activated late last night by the Borrower. The Provance Alert system goes Quiet at night BUT Aaron is working on this to change to 2 hours overnight :)

Saamee
08-09-2016, 11:43 AM
New loan up ( almost gone! )



79%


6 days and 23 hours
B1
13.97%
Personal
36 months
$10,250.00

Saamee
08-09-2016, 01:33 PM
Yet another new loan up ( who's complaining! )



6 days and 21 hours
A2
11.87%
Personal
60 months
$17,350.00

Saamee
09-09-2016, 12:50 PM
New loan just up...




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


2 days and 22 hours
A1
7.90%
Personal
36 months
$4,650.00

Saamee
12-09-2016, 07:40 AM
New loan up MON morning....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


7 days and 3 hours
A2
11.87%
Personal
60 months
$10,250.00

Saamee
12-09-2016, 01:58 PM
Small loan up MON arvo....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




70%


21 hours and 1 minute
B1
13.97%
Personal
36 months
$2,350.00

Saamee
13-09-2016, 08:03 AM
Just looked again at LC Early Loan Repayments.... Now that I am diversified in 143 loans since DEC 2015

So with 19 loans early repaid > That's a 13.2% early repayment rate....

Not sure how this relates to say HM early repay rates?

CR111
13-09-2016, 08:37 AM
Mine is 19 from 129. But do you consider early repayments a problem? There is no penalty in so far as extra fees. The only problem I see is that I have to spend more of my time reinvesting the funds. But it could also be handy if I was in a situation where I wanted to take money out of LC.

Saamee
13-09-2016, 08:47 AM
Mine is 19 from 129. But do you consider early repayments a problem? There is no penalty in so far as extra fees. The only problem I see is that I have to spend more of my time reinvesting the funds. But it could also be handy if I was in a situation where I wanted to take money out of LC.

No, not at all.

I see it simply as part of the 'personality' of P2P... Also you get the enjoyment of picking and deciding which loans to invest in once again! ;)

Saamee
13-09-2016, 10:46 AM
New loan up TUE Lunch time....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


7 days
A2
10.96%
Personal
36 months
$7,350.00

whitt
13-09-2016, 12:41 PM
I guess early repays just means you need to reinvest the funds agaain.
What are your stats for arrears looking like?

Saamee
13-09-2016, 12:50 PM
I guess early repays just means you need to reinvest the funds agaain.
What are your stats for arrears looking like?

@ LC...

Write Offs = ZERO

Arrears = ( 1 )

LN000-012-617
B2
Personal
60 months
19.10%

05/05/2016
8

Saamee
13-09-2016, 01:40 PM
2 x further new loans up TUE Arvo...

humvee
13-09-2016, 03:31 PM
I'm Going to put the call out there to lending crowd that its time for some additional features to play catch up with the features that harmoney have delivered recently as well as some harmoney have had all along.

When there were very few loans you could get away without a good transaction/loan export feature, Something that harmoney needed and did not have(in the past they had one but it was not good), Harmoney have now delivered sizable improvements in this area. So it would be good to see lending crowd make something similar available.

Also the ability to view full loan details(income, expenses, city, house etc) of all loans in your portfolio - Harmoney have had this since near to day 1, and 5+ months ago they made major improvements making it much more accessible.

Saamee
13-09-2016, 03:37 PM
I'm Going to put the call out there to lending crowd that its time for some additional features to play catch up with the features that harmoney have delivered recently as well as some harmoney have had all along.

When there were very few loans you could get away without a good transaction/loan export feature, Something that harmoney needed and did not have(in the past they had one but it was not good), Harmoney have now delivered sizable improvements in this area. So it would be good to see lending crowd make something similar available.

Also the ability to view full loan details(income, expenses, city, house etc) of all loans in your portfolio - Harmoney have had this since near to day 1, and 5+ months ago they made major improvements making it much more accessible.

Humvee,

Are you looking for something more than the following w.r.t Data Export??

8295

humvee
13-09-2016, 04:01 PM
Thats about as useful as the very limited export harmoney use to have.

Saamee
13-09-2016, 06:35 PM
4th loan today just up :)



6 days and 16 hours
A2
11.87%
Personal
60 months
$11,500.00

Saamee
14-09-2016, 03:03 PM
New loan up WED arvo....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 19 hours
A2
11.87%
Personal
60 months
$60,950.00
$0.00

Saamee
14-09-2016, 05:16 PM
New loan up WED evening...



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 17 hours
A2
10.96%
Personal
36 months
$22,450.00
$0.00
View
Buy

Darchie
14-09-2016, 05:24 PM
@ LC...

Write Offs = ZERO

Arrears = ( 1 )

LN000-012-617
B2
Personal
60 months
19.10%

05/05/2016
8





What's your current status on this loan now? I thought I had it also but can't find it at all now!

Darchie
14-09-2016, 05:25 PM
Loan just listed up

Saamee
14-09-2016, 05:47 PM
What's your current status on this loan now? I thought I had it also but can't find it at all now!

Evening Darchie,

Yep it's still showing in my list - Just gone up to 9 days overdue ( again! ) now!


8297

Darchie
14-09-2016, 07:00 PM
Evening Darchie,

Yep it's still showing in my list - Just gone up to 9 days overdue ( again! ) now!


8297

Interesting .. found my arrears loan it's so similar to yours ... But not same.
LN000-012-586 B2. Opened also 5/5/16 and it's also 9 days overdue

kiwi_on_OE
15-09-2016, 09:45 AM
Interesting .. found my arrears loan it's so similar to yours ... But not same.
LN000-012-586 B2. Opened also 5/5/16 and it's also 9 days overdue

Perhaps LN000-012 is the underlying loan, and 586 or 617 are your parts of it.

Saamee
15-09-2016, 10:01 AM
OK... I also had a loan that was 10 days overdue and that got made good last night, but that was 894!

Yes K.on.O may have hit the nail on the head here. Maybe our loans get batched up and given slightly different Loan Numbers?

I think we MUST have been talking about the same loan as above - just with a different #!

Saamee
15-09-2016, 10:23 AM
New loan just up!



0%


7 days
B1
14.74%
Business
36 months
$23,300.00

Saamee
16-09-2016, 03:35 PM
New loan up FRI arvo...




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 19 hours
B1
14.79%
Personal
60 months
$30,450.00

Saamee
17-09-2016, 02:38 PM
Perhaps LN000-012 is the underlying loan, and 586 or 617 are your parts of it.

Yes.. Exactly - Has this confirmed by LC. We all get unique individual Loan note numbers. So I guess if the dates and % figures and days overdue match we will be all talking about the same loan!

whitt
18-09-2016, 09:00 AM
I'm Going to put the call out there to lending crowd that its time for some additional features to play catch up with the features that harmoney have delivered recently as well as some harmoney have had all along.
.
Maybe they are waiting for more capital investment to fund upgrading the platform. IT upgrades can often become expensive.
Harmoney seems to have plenty of investment funds to throw around.

whitt
18-09-2016, 03:33 PM
Perhaps LN000-012 is the underlying loan, and 586 or 617 are your parts of it.
I have a theory to go with your concept

-LN000-012 could be the base loan number. Although looking at my investments I cant work out how the numbering works. As I have two different loans with LN000-017-xxx and the grades and terms are different.
-586 is the investors portion which ended with the loan after purchase at 58.6% filled.

I invested in current loan which is online and got an investor portion of LNxxx-xxx-941. Using my theory that would put loan at 94.1% taken which happened to match the dashboard info for said loan after i bought. The loan had 573 chunks of $50 taken which calculates to 94.08% or 94.1% to 1 decimal place which also matches.

I will see if this holds true for my next buy too as this might just be a coincidence too. I hope that made sense.

Minvestor
19-09-2016, 08:27 AM
Today
http://www.interest.co.nz/news/83565/p2p-lenders-lendme-and-lending-crowd-looking-ramp-after-conservative-starts-low-bank
Comments?

Saamee
19-09-2016, 09:34 AM
Today
http://www.interest.co.nz/news/83565/p2p-lenders-lendme-and-lending-crowd-looking-ramp-after-conservative-starts-low-bank
Comments?

As much as I think LC is great.... Wayne needs to check on his statement that they have NO loans in arrears...... as I currently have 2 ( one = 14 days )

8311

Saamee
19-09-2016, 02:53 PM
Two loans up MON



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




71%


6 days and 19 hours
A2
11.87%
Personal
60 months
$12,350.00

View
Buy





6 days and 19 hours
B2
18.74%
Personal
36 months
$2,400.00

humvee
19-09-2016, 09:03 PM
As much as I think LC is great.... Wayne needs to check on his statement that they have NO loans in arrears...... as I currently have 2 ( one = 14 days )

8311

I have 1 14 days behind too




LN000-012-587
B2
Personal
60 months
19.10%
$50.00
05/05/2016
14
$1.52
$2.14




That said thats my only arrears on lending crowd currently

Minvestor
20-09-2016, 01:55 PM
I must say I'd quite like to see this sort of information available on loan applications -- Creditsimple.co.nz (http://creditsimple.co.nz/) -- or at least to know how LC's loan categories map on to this bell curve.

humvee
20-09-2016, 02:13 PM
Gone in Under 7 Minutes





The following new Lending Crowd loan is available:


Loan ID
Grade
Term
Rate
Type
Amount
Purpose
Funded


L00-11-424
B2
36
18.74%
Personal
$2,250.00
Personal
0%

Saamee
20-09-2016, 03:08 PM
New loan up TUE arvo ( I missed out on the earlier one! )





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




0%


6 days and 18 hours
B1
13.97%
Personal
36 months
$25,450.00

Saamee
20-09-2016, 03:15 PM
And another small one....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







19 hours and 48 minutes
A2
10.96%
Personal
36 months
$5,250.00




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







19 hours and 48 minutes
A2
10.96%
Personal
36 months
$5,250.00

Darchie
21-09-2016, 11:00 AM
A small loan just listed

Saamee
21-09-2016, 11:07 AM
A small loan just listed





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 22 hours
B1
14.79%
Personal
60 months
$4,750.00

Darchie
21-09-2016, 11:29 AM
And yet another very small loan listed up

Saamee
21-09-2016, 11:30 AM
Another new loan up >





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 22 hours
B2
18.74%
Personal
36 months
$2,250.00

Saamee
21-09-2016, 12:05 PM
Another new loan up >





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





6 days and 22 hours
B2
18.74%
Personal
36 months
$2,250.00





All loans filled very quickly again today!

Saamee
21-09-2016, 03:06 PM
New 50K loan just up....





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




45%


6 days and 18 hours
B1
13.97%
Personal
36 months
$50,450.00

Saamee
21-09-2016, 04:30 PM
Another ( low Int. rate ) loan....



60%


6 days and 17 hours
A1
8.42%
Personal
60 months
$11,350.00

kiwi_on_OE
21-09-2016, 06:22 PM
New 50K loan just up....





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




45%


6 days and 18 hours
B1
13.97%
Personal
36 months
$50,450.00





Do I read this one correctly? 50k on a car, monthly income between 2-4k, existing outgoings 2k, loan repayments 1k7? So there outgoings could be more than their income? Doesn't appeal to me.

humvee
22-09-2016, 11:17 AM
Do I read this one correctly? 50k on a car, monthly income between 2-4k, existing outgoings 2k, loan repayments 1k7? So there outgoings could be more than their income? Doesn't appeal to me.

If they are 32 and OWN a freehold - mortgage free home in auckland and self employed - maybe the income is artificially low - for tax reasons etc .....

Chickens
22-09-2016, 02:12 PM
If the purpose of the loan (L00-11-435) is indeed debt consolidation, the borrower should be reducing their existing repayment obligations, which can be contributed to the $1,723.24 LC payments.

However, in this imperfect world, "debt consolidation" often means debt restructuring, resulting in increased debt at better terms, with similar repayments.

Saamee
26-09-2016, 10:52 AM
New loan MON am ( almost funded! )





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




90%


7 days
B1
13.97%
Personal
36 months
$10,350.00

Saamee
27-09-2016, 11:24 AM
New Large loan up TUE Lunchtime.....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 23 hours
A1
8.42%
Personal
60 months
$70,950.00

whitt
27-09-2016, 01:08 PM
New Large loan up TUE Lunchtime.....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





6 days and 23 hours
A1
8.42%
Personal
60 months
$70,950.00



did everyone get a text on this one? I dont appear to have

CR111
27-09-2016, 01:24 PM
Nope, I didn't get text for this one.

mccollr
27-09-2016, 05:11 PM
Just arrived now.

Saamee
27-09-2016, 06:01 PM
Another news update on the USA P2P markets....

http://www.zerohedge.com/news/2016-09-26/p2p-meltdown-continues-loandepots-cdo-trips-cumulative-loss-covenants-just-10-months

Saamee
28-09-2016, 12:49 PM
New 15K Loan up WED early arvo.....



58%


6 days and 22 hours
A2
10.96%
Personal
36 months
$15,350.00

Saamee
28-09-2016, 01:04 PM
This may be helpful to sight all of LC's possible Lending Interest Rates....

Personal loans


A1
A2
B1
B2


3 Years
7.90%
10.96%
13.97%
18.74%


5 Years
8.42%
11.87%
14.79%
19.10%


Business loans


A1
A2
B1
B2


3 Years
8.95%
11.86%
14.74%
19.36%


5 Years
9.86%
12.84%
15.39%
19.75%

Saamee
28-09-2016, 01:53 PM
And yet another new loan up WED!!



6 days and 21 hours
B1
14.79%
Personal
60 months
$15,350.00

Saamee
28-09-2016, 03:41 PM
Yet another small loan up....



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







19 hours and 19 minutes
A2
10.96%
Personal
36 months
$3,750.00

Saamee
29-09-2016, 04:37 PM
New loan up late THU arvo.....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 18 hours
B1
14.79%
Personal
60 months
$26,950.00

Saamee
30-09-2016, 04:04 AM
New loan up early FRI morning.....





Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







6 days and 6 hours
A2
11.87%
Personal
60 months
$30,450.00

Saamee
30-09-2016, 01:38 PM
New loan up FRI arvo....




Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment




65%


2 days and 21 hours
B2
19.10%
Personal
60 months
$25,450.00

Kelvin
04-10-2016, 04:02 PM
LC doing their own email notifications for loans now

humvee
04-10-2016, 08:49 PM
LC doing their own email notifications for loans now

No filters though.

Saamee
05-10-2016, 06:51 AM
LC doing their own email notifications for loans now

LC's notification IS quicker...

Yesterday there were 2 or 3 very small loans ( approx 2-3K ) they went very very fast - got 2 missed 1 even with alerts!

PennyPicker
06-10-2016, 06:03 AM
LC's notification IS quicker...

Yesterday there were 2 or 3 very small loans ( approx 2-3K ) they went very very fast - got 2 missed 1 even with alerts!

I've adjusted the polling interval this morning. We'll see how it helps, it should resolve these problems.

Saamee
06-10-2016, 06:18 AM
I've adjusted the polling interval this morning. We'll see how it helps, it should resolve these problems.

Thanks PP :)

Even with 'Fast Alerts' it only takes One Investor to Invest 100% in a Small Loan and it's Full, Taken and gone.

PennyPicker
06-10-2016, 01:12 PM
Re Provance loan notifications; Chorus guy came round this morning and unknown to us crashed the router, meaning no Provance alerts between 12pm and 2:10, so we missed one small loan. Sorry about this, fixed now.

Saamee
12-10-2016, 02:12 PM
Last couple of weeks a littel bit quieter for Loans over here @ Lending Crowd... Deadly quiet @ Squirrel!

Trying to work out if there is a seasonal rhythm going here?

mccollr
12-10-2016, 05:40 PM
Maybe they are all using Harmoney. Seems to be a steady stream of loans there.

Darchie
12-10-2016, 07:49 PM
[QUOTE=mccollr;640424]Maybe they are all using Harmoney. Seems to be a steady stream of loans

They're Mainly Rewrites at HM

Darchie
13-10-2016, 06:02 AM
This seems very UNBALANCED.

I've just run some numbers over a loan taken recently but since repaid over night.
Placed $500.00 into LN-000-018-659 on 28 Sept @ 14.79%
Loan started 30 Sept
Loan repaid 13 Oct
Have been paid:
1.22 int
0.12 fee
0.21 tax
SO that adds up to 1.55 gross

Far short of the assumed 12days of 14.79% interest!!!

Comments and workings appreciated....

Saamee
13-10-2016, 06:17 AM
This seems very UNBALANCED.

I've just run some numbers over a loan taken recently but since repaid over night.
Placed $500.00 into LN-000-018-659 on 28 Sept @ 14.79%
Loan started 30 Sept
Loan repaid 13 Oct
Have been paid:
1.22 int
0.12 fee
0.21 tax
SO that adds up to 1.55 gross

Far short of the assumed 12days of 14.79% interest!!!

Comments and workings appreciated....

Darchie, Just crunched your numbers. Make it approx 50% of what you should be due?

Is calling LC on your list of things to do today?

Saamee
13-10-2016, 06:35 AM
This seems very UNBALANCED.

I've just run some numbers over a loan taken recently but since repaid over night.
Placed $500.00 into LN-000-018-659 on 28 Sept @ 14.79%
Loan started 30 Sept
Loan repaid 13 Oct
Have been paid:
1.22 int
0.12 fee
0.21 tax
SO that adds up to 1.55 gross

Far short of the assumed 12days of 14.79% interest!!!

Comments and workings appreciated....

Just done checking I to was in that loan. Confirm 50% of expected interest repaid overnight....

Bjauck
13-10-2016, 07:28 AM
Just done checking I to was in that loan. Confirm 50% of expected interest repaid overnight....

In effect, did the borrower manage to get some cheap bridging finance?

Saamee
13-10-2016, 01:57 PM
This seems very UNBALANCED.

I've just run some numbers over a loan taken recently but since repaid over night.
Placed $500.00 into LN-000-018-659 on 28 Sept @ 14.79%
Loan started 30 Sept
Loan repaid 13 Oct
Have been paid:
1.22 int
0.12 fee
0.21 tax
SO that adds up to 1.55 gross

Far short of the assumed 12days of 14.79% interest!!!

Comments and workings appreciated....

Darchie, I have a reply form LC will send you in a Private Message.

Darchie
13-10-2016, 05:22 PM
I emailed LC this morning and this avo they came back with this below ... I'm unsure if it's ethical to copy and paste ... but i think we need to digest their portrayal of events ...

OK so they hang onto our funds at both ends of the transactions!!! ....
so he says loan was for only 6days ... but i can't see how or why LC has given the calculation example like it is as a net interest figure ... if in fact it's for only 6 days at that interest rate shouldn't it be a gross figure ... I ask others opinions here please. I know its only small amount of cents ... but that's not the point. I want to know things are 100% correct.
I remember two loan details so extremely similar and rather close together... so obviously they were the loans in question!

LC response:
<<< The loan you invested LN000-018-659 opened on 30/9/2016 and closed on 6/10/2016

As the borrower miscalculated the amount he required, so the loan LN000-018-659 closed on 6/10/2016 and he has a top up loan opened on the same day.

In this case, your interest received will be $500 @ 14.79% / 365 for 6 days = $1.22

Once the loan closed, we required a 7 days clearing period to make sure no issues before we are able to return the principal to our investors, hope you can understand this. >>>

Darchie
13-10-2016, 07:24 PM
I now see the net interest has now been reduced on the LC loan statements to $1.10 ... that's happened sometime during the day

kiwi_on_OE
14-10-2016, 05:53 AM
What do the T&Cs say? Presumably LC have covered themselves. If the borrower only had the money for 6 days, then you can't really expect to get 14.79%pa for the other days, as the funds were probably just sitting around earning only 1-2%pa. Think of the interest earnt by LC for those few days at either end of a loan as another fee.

Probably what should have happened is that LC should have given you accurate dates for the start and end of the loan ie. 6 days apart.

Darchie
14-10-2016, 07:23 AM
What do the T&Cs say? Presumably LC have covered themselves. If the borrower only had the money for 6 days, then you can't really expect to get 14.79%pa for the other days, as the funds were probably just sitting around earning only 1-2%pa. Think of the interest earnt by LC for those few days at either end of a loan as another fee.

Probably what should have happened is that LC should have given you accurate dates for the start and end of the loan ie. 6 days apart.

Yes i would absolutely like to see accurate dates ...

I now have 30 paid off loans, so will be checking them as well (which is on the plan) I'll have to assume/guess a number of holding days! That's far too loose in my opinion!

The loan in question shows in my bank statement as principal being repaid on 13th ... but in the paid off loans it shows as being paid off on 14th ...

Soolaimon
14-10-2016, 02:11 PM
I have just had a look at my repaid history and am disappointed to find that I have had exactly $1000 worth of loans paid off in 7 days. That is out of 102 loans with an approximate total invested of 16K.

Saamee
14-10-2016, 02:12 PM
I have just had a look at my repaid history and am disappointed to find that I have had exactly $1000 worth of loans paid off in 7 days. That is out of 102 loans with an approximate total invested of 16K.


Yes the Loans being repaid are coming thick and fast at the moment!

whitt
14-10-2016, 03:25 PM
Maybe they are all using Harmoney. Seems to be a steady stream of loans there.
HM are aggressive marketing at present including ads on TV. I suspect this might take some of the demand away from LC and Squirrel and could explain why they are quiet.

HM loans available are plenty and have been getting more daily.

Saamee
17-10-2016, 10:51 AM
New loan just up - Not seen any Alerts just yet!



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment







1 day
A2
10.96%
Personal
36 months
$6,350.00

Saamee
17-10-2016, 10:54 AM
New loan just up - Not seen any Alerts just yet!



Funded
Time remaining
Grade
Rate*
Type
Term
Amount
My investment





1 day
A2
10.96%
Personal
36 months
$6,350.00




OK Email from LC only just arrived now :)

Interesting both borrower 60+ and NO Death cover....

Just made me wonder if any Borrower would be cavalier enough to borrow and not care if they die?

I guess then we as Lenders are "In the Queue" as Creditors in that circumstance ( behind IRD etc )

Saamee
20-10-2016, 10:39 AM
A 2K loan just got filled in approx 5 mins...

whitt
20-10-2016, 01:34 PM
A 2K loan just got filled in approx 5 mins...
At only 2k I wonder what the chances are the borrower will repay it early.

Saamee
20-10-2016, 02:24 PM
At only 2k I wonder what the chances are the borrower will repay it early.

My thought was the base application Fee would be VERY large % wise versus the Sum borrowed!

whitt
21-10-2016, 12:17 PM
Has anybody created any tools to analyse actual returns ? I like the fact Harmoney shows my return % and I am keen to know what % return my LC is tracking at also.

Monthly reports can be exported it seems but how do we filter and manipulate this data into something more useful.

Saamee
21-10-2016, 01:40 PM
Has anybody created any tools to analyse actual returns ? I like the fact Harmoney shows my return % and I am keen to know what % return my LC is tracking at also.

Monthly reports can be exported it seems but how do we filter and manipulate this data into something more useful.

Whitt > Do you currently rely on LC's NAV % figure? ( updated on 01st every month )

whitt
21-10-2016, 02:24 PM
Whitt > Do you currently rely on LC's NAV % figure? ( updated on 01st every month )
Sorry haven't heard of this.
I dont have anything in my dashboard.


Found this on LC FAQ though which might explain what you posted about.

Why does my investment account not show a net average return (NAR)?

Calculating a representative NAR is in part dependent on sufficient data existing for the calculations to work on. For this reason to be included in the calculation a loan note's opened date must be at least 100 days prior to the calculation date. If no loan notes meet this criteria no NAR will be calculated or displayed on your investment account.

Saamee
21-10-2016, 02:40 PM
Sorry haven't heard of this.
I dont have anything in my dashboard.


Found this on LC FAQ though which might explain what you posted about.

Why does my investment account not show a net average return (NAR)?

Calculating a representative NAR is in part dependent on sufficient data existing for the calculations to work on. For this reason to be included in the calculation a loan note's opened date must be at least 100 days prior to the calculation date. If no loan notes meet this criteria no NAR will be calculated or displayed on your investment account.

Yes, that's right.

How long have you been investing @ LC?

It will appear here after your 1st loan is 100 days old :)

8399

Minvestor
25-10-2016, 04:46 PM
Obviously my lack of understanding of accountancy and busyness, but how can annual profit be greater than annual income? Is there something I need to know?

Annual revenue: Between $250,000 and $500,000
Sector:
Other


Annual profit:
Between $300,000 and $500,000

Saamee
25-10-2016, 05:27 PM
Obviously my lack of understanding of accountancy and busyness, but how can annual profit be greater than annual income? Is there something I need to know?

Annual revenue: Between $250,000 and $500,000
Sector:
Other


Annual profit:
Between $300,000 and $500,000

It will be the limited $$ bands Borrowers are given to chose from.

Something likely a 500K revenue yielding a 300K profit.

Darchie
27-10-2016, 01:52 PM
I see 2 loans came through VERY close together today both from upper hutt, both wanting $20,450.00 and i strongly suspect it could well be another case where the borrower has decided to change from 3 to 5years after the loans already been filled. But for us lenders this means our funds are locked away for that extra 7days ... does anyone do screen shots of the loans before they fill? Thatd sort of confirm my suspicion

Saamee
27-10-2016, 01:58 PM
I see 2 loans came through VERY close together today both from upper hutt, both wanting $20,450.00 and i strongly suspect it could well be another case where the borrower has decided to change from 3 to 5years after the loans already been filled. But for us lenders this means our funds are locked away for that extra 7days ... does anyone do screen shots of the loans before they fill? Thatd sort of confirm my suspicion

Darchie, Funds already BACK in ACCOUNT!

It was a ReWrite ( of term length )

Saamee
27-10-2016, 01:58 PM
LC on FIRE today >> Loan after Loan after Loan!!!

Saamee
27-10-2016, 02:05 PM
Darchie, Funds already BACK in ACCOUNT!

It was a ReWrite ( of term length )

By thwe way YES I do screen shots of every Loan these days.... Otherwise you cannot go back and see what you invested in!

Saamee
27-10-2016, 02:46 PM
I see 2 loans came through VERY close together today both from upper hutt, both wanting $20,450.00 and i strongly suspect it could well be another case where the borrower has decided to change from 3 to 5years after the loans already been filled. But for us lenders this means our funds are locked away for that extra 7days ... does anyone do screen shots of the loans before they fill? Thatd sort of confirm my suspicion

1st Loan \ 2nd Loan

84128413

Darchie
27-10-2016, 03:37 PM
1st Loan \ 2nd Loan

84128413

Well done Saamee!
See identical .. i say watch the 36 month loan be repaid ... BUT it'll be held for 7days ...