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Saamee
27-10-2016, 04:38 PM
Well done Saamee!
See identical .. i say watch the 36 month loan be repaid ... BUT it'll be held for 7days ...

Darchie, Funds already BACK in ACCOUNT!

Mine already Reinvested - Go check your account!! :)

Kelvin
27-10-2016, 04:43 PM
Yes, mine back in account too.

The original loan never got drawndown so goes back into your account straight away

heisenberg
28-10-2016, 01:40 PM
Just getting into P2P, deciding between Harmoney and LC. Prefer LC's set up but concerned about lack of investment opportunities. Do you find this an issue?

Saamee
28-10-2016, 01:51 PM
Just getting into P2P, deciding between Harmoney and LC. Prefer LC's set up but concerned about lack of investment opportunities. Do you find this an issue?

Not for a Slow Drip Feed - Good if you are only just getting in to P2P

Kelvin
28-10-2016, 04:44 PM
Agreed with saamee. Only took 1-2 weeks to invest my initial $500 at $50 per loan.

Very low arrears on LC as well, so their collections team must be very good.

No system glitches on LC that I know of, unlike Harmoney

heisenberg
30-10-2016, 01:22 PM
Good to know, thanks. Think I'll go with LC. Does anyone have a current strategy that is working well for them? 50% A grade, 50% B for example?

Saamee
30-10-2016, 02:06 PM
Good to know, thanks. Think I'll go with LC. Does anyone have a current strategy that is working well for them? 50% A grade, 50% B for example?

Hi H,

My current strategy @ LC is to only invest in the B1 grades ( 13% to 15% ) returns.

That's only because I have invested fro 10 months with them across all grades, but now Cherry Pick to augment my existing investments with LC.

I figure 14% is a fair return ( not too stupidly high or dangerous )

Like ALL P2P investments - the greater the % rate paid > The greater the risk....

Good luck investing :)

whitt
30-10-2016, 02:21 PM
Heaps of loans on LC last week which is good

Kelvin
31-10-2016, 11:50 AM
Good to know, thanks. Think I'll go with LC. Does anyone have a current strategy that is working well for them? 50% A grade, 50% B for example?

I have been going for anything except A1 and ones that appear dodgy to me (like high enquiries). With the A1 grade you can get a similar return at squirrel money at lower risk.

My NAR is currently 13.69%

whitt
31-10-2016, 12:20 PM
Hi H,

My current strategy @ LC is to only invest in the B1 grades ( 13% to 15% ) returns.

That's only because I have invested fro 10 months with them across all grades, but now Cherry Pick to augment my existing investments with LC.

I figure 14% is a fair return ( not too stupidly high or dangerous )

Like ALL P2P investments - the greater the % rate paid > The greater the risk....

Good luck investing :)

Am thinking same also B1's look good.
I chased various returns on Harmoney but with writeoffs it ends up at approx 14% anyway. 14% is a good number I am happy with.

Saamee
31-10-2016, 12:42 PM
I have been going for anything except A1 and ones that appear dodgy to me (like high enquiries). With the A1 grade you can get a similar return at squirrel money at lower risk.

My NAR is currently 13.69%

Agreed about A1's.

whitt
31-10-2016, 03:19 PM
crikey
Today's B2 36 month went very fast
Email went out at 3.11pm , Provance text at 3.21pm
I logged in after text and it had all gone.

heisenberg
03-11-2016, 12:31 PM
Is the interest returns that you guys have been quoting per annum or for the entire length of the loan?
For example if I invest $1000 over a number of 3 year loans at an average interest rate of 12% will I end up with $1120, $1360 (pa, not compounded) or $1400 (pa, compounded)?

Saamee
03-11-2016, 03:12 PM
Is the interest returns that you guys have been quoting per annum or for the entire length of the loan?
For example if I invest $1000 over a number of 3 year loans at an average interest rate of 12% will I end up with $1120, $1360 (pa, not compounded) or $1400 (pa, compounded)?

% Rate is Annual Percentage Rate,

Rgds,

Cool Bear
03-11-2016, 03:24 PM
Is the interest returns that you guys have been quoting per annum or for the entire length of the loan?
For example if I invest $1000 over a number of 3 year loans at an average interest rate of 12% will I end up with $1120, $1360 (pa, not compounded) or $1400 (pa, compounded)?
It is per annum, so $12 first month ($120/12 months) and less each month as the amount owing reduces.

Saamee
04-11-2016, 02:55 AM
Heavy night of Loans with 3 being Repaid....

Maybe start of month, LC gobe quiet so cannot Reinvest straight away.

Saamee
08-11-2016, 08:35 AM
Heavy night of Loans with 3 being Repaid....

Maybe start of month, LC gone quiet so cannot Reinvest straight away.

F.Y.I > Just updated the figures for Early Repaid \ Closed loans @ LC now running at 15%

This is a blended result from 2 accounts...

humvee
08-11-2016, 09:43 AM
F.Y.I > Just updated the figures for Early Repaid \ Closed loans @ LC now running at 15%

This is a blended result from 2 accounts...

My blended result from 2 accounts is 23% repaid early,

The account with all the older loans has 32% repaid early

Saamee
08-11-2016, 10:07 AM
My blended result from 2 accounts is 23% repaid early,

The account with all the older loans has 32% repaid early

Thanks for that Humvee. Echoes my experience too > The older account ( 11months old now ) is @ 30%. The newer @ 12%.

Saamee
08-11-2016, 10:14 AM
Thanks for that Humvee. Echoes my experience too > The older account ( 11months old now ) is @ 30%. The newer @ 12%.

Chart below:

8439

whitt
08-11-2016, 08:17 PM
My blended result from 2 accounts is 23% repaid early,

The account with all the older loans has 32% repaid early
Pity they dont have some sort of feature so when we get pay backs we can do something:
-An email to say loan paid back and funds are back in account
-Some sort of auto invest feature so the funds can be invested back in to a loan

At present you need to keep logging in to see funds and available loans

Saamee
09-11-2016, 05:20 AM
Pity they dont have some sort of feature so when we get pay backs we can do something:
-An email to say loan paid back and funds are back in account
-Some sort of auto invest feature so the funds can be invested back in to a loan

At present you need to keep logging in to see funds and available loans

Interesting comment Whitt, as I'm actively using 3 x P2P Lenders ( LC, SM & HM ) probably with around 1,000 loans total - the admin created by early loan repayments is increasing - as you say 1) One identifying repayment 2) Reinvesting the funds.

It's not an issue just a realization of a part of P2P investing.

The last 2 weeks I had funds repaid to reinvest but 'stood still' with my invested capital as there was more repayments made and less loans around!

Minvestor
10-11-2016, 08:09 AM
Pity they dont have some sort of feature so when we get pay backs we can do something:
-An email to say loan paid back and funds are back in account
-Some sort of auto invest feature so the funds can be invested back in to a loan

At present you need to keep logging in to see funds and available loans
Yes, agree completely, both of these would be very helpful -- and I guess would help LC speed up the filling of loans

Saamee
20-11-2016, 12:55 PM
I signed up and joined Lending Crowd on the 1st day they opened in December 2015.

These days the majority of my P2P investments are in 'LC' = That's 67% in 'LC' and the rest over Squirrel & Harmoney.

In December 'LC" have been operating for a full 12 months, so wanted to give a little wrap up of things so far.

'LC' just seems to work ( for me! )...

~ Easy to understand Website Interface

~ A growing number of new Loans to invest in ( I average investing in 36 new loans per month )

~ Loan early repayments are at 16.5% of all invested loans

~ # of currently invested in loans = 205

~ NO Writes offs To Date.

~ Arrears - There have been a few, but always repaid within 20 days or so ( currently have my 1st, which has grown now to 33 days overdue )

~ 'LC' Contact Support - The main players are Aedi and Wayne and the responsiveness and support is same day Email or Phone call response = Very Acceptable

~ Since Email \ Text alerts came out ( 1st from Third Party Aaron ) and then 'LC' - Much easier to get into loans = a Great Positive Move

What would I appreciate more from 'LC'??

1) More openness \ willingness to provide ( a little more information about borrower \ loan arrear status ) on the Status of any Loan in Arrears

2) Am happy ( for my needs ) on Current Loan reporting but would like the ability to find and view Online all the Original Loan Details
( Currently I take a Screen shot and store - on 'LC' advice.

3) A daily early morning Email to advise on Account Funds Credit status ( ie New overnight Credits \ Available Balance \ Any Closed Loans)

'LC' works and well. Trust has been built ( both ways ) over the last 12 months.

AndyKiwi
20-11-2016, 02:22 PM
I signed up and joined Lending Crowd on the 1st day they opened in December 2015.

These days the majority of my P2P investments are in 'LC' = That's 67% in 'LC' and the rest over Squirrel & Harmoney.

In December 'LC" have been operating for a full 12 months, so wanted to give a little wrap up of things so far.

'LC' just seems to work ( for me! )...

~ Easy to understand Website Interface

~ A growing number of new Loans to invest in ( I average investing in 36 new loans per month )

~ Loan early repayments are at 16.5% of all invested loans

~ # of currently invested in loans = 205

~ NO Writes offs To Date.

~ Arrears - There have been a few, but always repaid within 20 days or so ( currently have my 1st, which has grown now to 33 days overdue )

~ 'LC' Contact Support - The main players are Aedi and Wayne and the responsiveness and support is same day Email or Phone call response = Very Acceptable

~ Since Email \ Text alerts came out ( 1st from Third Party Aaron ) and then 'LC' - Much easier to get into loans = a Great Positive Move

What would I appreciate more from 'LC'??

1) More openness \ willingness to provide ( a little more information about borrower \ loan arrear status ) on the Status of any Loan in Arrears

2) Am happy ( for my needs ) on Current Loan reporting but would like the ability to find and view Online all the Original Loan Details
( Currently I take a Screen shot and store - on 'LC' advice.

3) A daily early morning Email to advise on Account Funds Credit status ( ie New overnight Credits \ Available Balance \ Any Closed Loans)

'LC' works and well. Trust has been built ( both ways ) over the last 12 months.

Thank you for the wrap up. Very interesting read. Also no write offs so far is very impressive. Really improves confidence in LC. Can u tell us your investment strategy, like do you invest in any and all grades and terms that come your way or are u selective? Also do u prefer to invest the minimum amount of $50 per loan or does it vary depending on your strategy. Your reply would be greatly appreciated. Thanks!

Saamee
20-11-2016, 02:47 PM
Thank you for the wrap up. Very interesting read. Also no write offs so far is very impressive. Really improves confidence in LC. Can u tell us your investment strategy, like do you invest in any and all grades and terms that come your way or are u selective? Also do u prefer to invest the minimum amount of $50 per loan or does it vary depending on your strategy. Your reply would be greatly appreciated. Thanks!

Hi AndyKiwi :)


Happy to help - I believe it's important to get the benefits of 'LC" out there for those that have not committed this far!


Initially:
$500 in every loan... ( To build up a basis & profile @ 'LC' )


'LC' rate chart >> https://lendingcrowd.co.nz/howitworks/ratesandfees#lc-wrapper


Now:
Typically >>


Grade = B2 > $100


Grade = B1 > $400 - $600 ( my selected 'sweet spot' ) - rate does not seem to excessive or greedy!


Grade = A2 > $100


Grade = A1 > I do not bother - you may as well put your $$'s in Squirrel @ 9% guaranteed!


As for terms > 36 or 60 months - I'm taking a long term strategy - currently getting $250 \ week Interest from combined P2P investments. So do not mind either Term length.


My long term plan is to keep Investing till I am getting $500 \ week Interest Income every week - then in 9 Years time with NZ Pension have approx $750 \ week income.....


As mentioned above... Currently 16% of all loans @ 'LC' get repaid early.


Currently I spend approx 1.5 to 2 hours a day managing P2P accounts, across 3 x P2P Lenders ( repaid Loans, Reinvesting, Transferring Funds & Requesting Withdrawals etc )


My RAR @ 'LC" = 13.11%


Anything missed or wish to know more... Just Ask!

AndyKiwi
20-11-2016, 03:23 PM
Hi AndyKiwi :)


Happy to help - I believe it's important to get the benefits of 'LC" out there for those that have not committed this far!


Initially:
$500 in every loan... ( To build up a basis & profile @ 'LC' )


'LC' rate chart >> https://lendingcrowd.co.nz/howitworks/ratesandfees#lc-wrapper


Now:
Typically >>


Grade = B2 > $100


Grade = B1 > $400 - $600 ( my selected 'sweet spot' ) - rate does not seem to excessive or greedy!


Grade = A2 > $100


Grade = A1 > I do not bother - you may as well put your $$'s in Squirrel @ 9% guaranteed!


As for terms > 36 or 60 months - I'm taking a long term strategy - currently getting $250 \ week Interest from combined P2P investments. So do not mind either Term length.


My long term plan is to keep Investing till I am getting $500 \ week Interest Income every year - then in 9 Years time with NZ Pension have approx $750 \ week income.....


As mentioned above... Currently 16% of all loans @ 'LC' get repaid early.


Currently I spend approx 1.5 to 2 hours a day managing P2P accounts, across 3 x P2P Lenders ( repaid Loans, Reinvesting, Transferring Funds & Requesting Withdrawals etc )


My RAR @ 'LC" = 13.11%


Anything missed or wish to know more... Just Ask!


Wow thanks for all this info. Would be a great help to me and others. A couple more questions. Do you invest in ALL the loans coming your way in your preferred grades or do you ever reject any of them? Also if you don't mind me asking, how much total have u invested in LC so far and how much do you plan to invest eventually? Thanks!

Saamee
20-11-2016, 03:28 PM
Wow thanks for all this info. Would be a great help to me and others. A couple more questions. Do you invest in ALL the loans coming your way in your preferred grades or do you ever reject any of them? Also if you don't mind me asking, how much total have u invested in LC so far and how much do you plan to invest eventually? Thanks!


Yes... Just about ALL the loans in my sweet spot coming my way.


If a Borrower takes out Death Cover or the 'LC' security includes a Property > then I invest @ the upper end of the above Limits


You can do the maths easily! > $250 Interest per week ( after RWT ) / 13.11% APR ( annual percentage rate ) = approx 100K invested in P2P currently.

AndyKiwi
20-11-2016, 03:39 PM
Yes... Just about ALL the loans in my sweet spot coming my way.


If a Borrower takes out Death Cover or the 'LC' security includes a Property > then I invest @ the upper end of the above Limits


You can do the maths easily! > $250 Interest per week ( after RWT ) / 13.11% APR ( annual percentage rate ) = approx 100K invested in P2P currently.

Thank you soon much Saamee. Your info is greatly going to help me. Do keep updating us from time to time. Good luck with your goals. :)

Saamee
30-11-2016, 01:30 PM
It's been quiet here for 10 days so thought I'd give it a 'Bump'!

So it's the last day of the month and this month I decided to enter into 32 new loans at LC.

So how does this compare with the previous 3 months of new loans at LC?

OCT - 38

SEP - 43

AUG - 32

Note: There were more loans offered of course - the ones I would have not invested in would have been because of the % Rate offered or the Borrowers details...

AndyKiwi
30-11-2016, 07:46 PM
Hi Saamee, what borrower's details you look for to not invest in a loan apart from the % rate offered. Anything specific that puts u off? Just trying to learn from you.


It's been quiet here for 10 days so thought I'd give it a 'Bump'!

So it's the last day of the month and this month I decided to enter into 32 new loans at LC.

So how does this compare with the previous 3 months of new loans at LC?

OCT - 38

SEP - 43

AUG - 32

Note: There were more loans offered of course - the ones I would have not invested in would have been because of the % Rate offered or the Borrowers details...

Saamee
30-11-2016, 08:13 PM
Hi Saamee, what borrower's details you look for to not invest in a loan apart from the % rate offered. Anything specific that puts u off? Just trying to learn from you.

Hi again 'AK'

Really just the usual poteential warning signs.... such as:

~ Renting not Owning a home

~ Time in stable employment ( less than 2 years I apply caution )

~ # of recent Credit Enquiries

~ Area of the country - ie likely Rural jobs vs big city jobs

~ Time at address

So trying to work out how stable a person may be - of course at the end of the day it's all supossition.

Your mind tells you things like, has this person just got out of prison ( renting less than a year with both job and address ) or is it that they have had a marriage split up and it's a new strart ( we've all been there! )

Having said all of the above, my 1 year track record with LC is NO WRITE OFFS and currently NO ARREARS.

You've got to give it to the LC Team that they pick their customers, which are our Borrowers very well.

AndyKiwi
30-11-2016, 08:22 PM
That's invaluable information. I will train myself to apply it to all future loans. Thank you so much mate! Really appreciate your quick and helpful replies! 😀


Hi again 'AK'

Really just the usual poteential warning signs.... such as:

~ Renting not Owning a home

~ Time in stable employment ( less than 2 years I apply caution )

~ # of recent Credit Enquiries

~ Area of the country - ie likely Rural jobs vs big city jobs

~ Time at address

So trying to work out how stable a person may be - of course at the end of the day it's all supossition.

Your mind tells you things like, has this person just got out of prison ( renting less than a year with both job and address ) or is it that they have had a marriage split up and it's a new strart ( we've all been there! )

Having said all of the above, my 1 year track record with LC is NO WRITE OFFS and currently NO ARREARS.

You've got to give it to the LC Team that they pick their customers, which are our Borrowers very well.

Saamee
30-11-2016, 09:12 PM
That's invaluable information. I will train myself to apply it to all future loans. Thank you so much mate! Really appreciate your quick and helpful replies! 

No worries..... Right now the P2P community in NZ is SO small... Any information shared that goes towards building confidence with others should be put out there. When I speak to others about the 'Real Benefits' of P2P lending in NZ I find I get this glazed, non interested look and always with the words "Oh I can't afford to loose any of my money".......

Saamee
30-11-2016, 11:42 PM
LC just updated the montly NAR ( Net Average Returns ).

Currently getting 13.86%

whitt
01-12-2016, 10:35 AM
No worries..... Right now the P2P community in NZ is SO small... Any information shared that goes towards building confidence with others should be put out there. When I speak to others about the 'Real Benefits' of P2P lending in NZ I find I get this glazed, non interested look and always with the words "Oh I can't afford to loose any of my money".......
Totallyagree.
The more we share our own data with forum members the more it helps everyone.
Thanks Saamee

whitt
01-12-2016, 10:38 AM
LC just updated the montly NAR ( Net Average Returns ).

Currently getting 13.86%
I am on 11.52% NAR. Mainly due to just accepting any loan initially in early stages of investing with LC. Now I am more confident with LC performance I have dropped the A grades so this NAR rate should slowly increase over time.

Bjauck
01-12-2016, 01:30 PM
I am still drip feeding into my account, but I have just got my first NAR at 12.1%. I aim to invest along the lines of:
36mth A1: $0
60mth A1: $50
A2: $100
B1: $150
B2: $50/$100 on scrutiny of length and quality of credit history, residence and occupation

I have few B2's as the email/text alerts seem to arrive when I am in meetings or driving - and when I am in a position to act on them, they have often been filled.

I am not clear on a point with credit history: where a borrower has no defaults but still scores only a good (not excellent) rating, does that mean that the borrower may have had defaults older than 2 years?

whitt
01-12-2016, 02:40 PM
I am not clear on a point with credit history: where a borrower has no defaults but still scores only a good (not excellent) rating, does that mean that the borrower may have had defaults older than 2 years?

A credit score of good does not necessarily mean they have had old defaults.

I guess all these p2p type finance companies operate there own algorithms to determine credit scores. It is probably different to each company and kept secret like the KFC recipe.

I would assume that numerous factors are considered and then weighted to give an internal score which represents a overall credit score .

Defaults like what you mention new and old are probably only one factor in the overall score. Maybe you get a higher score if married or owning an own home, being in a job or house long-term etc

Hope that helps.

Bjauck
01-12-2016, 02:51 PM
A credit score of good does not necessarily mean they have had old defaults.

I guess all these p2p type finance companies operate there own algorithms to determine credit scores. It is probably different to each company and kept secret like the KFC recipe.

I would assume that numerous factors are considered and then weighted to give an internal score which represents a overall credit score .

Defaults like what you mention new and old are probably only one factor in the overall score. Maybe you get a higher score if married or owning an own home, being in a job or house long-term etc

Hope that helps. Thanks. Lots of factors.
I guess I am wondering if a borrower may have had a default - say 3 years ago - and an otherwise excellent history - they may still be included as "Credit: Good" "Defaults** (**in previous 2 years): None"

Whippeedo
01-12-2016, 02:58 PM
You sure do have be quick to get into LC loan these days. Email alert of new loan came in today @ 3:40pm. At 3:57pm same loan is 62% funded. Snooze you lose

Anyone had any write offs at LC?

Saamee
01-12-2016, 08:27 PM
You sure do have be quick to get into LC loan these days. Email alert of new loan came in today @ 3:40pm. At 3:57pm same loan is 62% funded. Snooze you lose

Anyone had any write offs at LC?

I not currently aware ( via this board ) of anybody that have ever had ANY Write Offs @ Lending Crowd.

For the 1st time in months I do not even have any loans in arrears right now.

Darchie
02-12-2016, 06:21 AM
I not currently aware ( via this board ) of anybody that have ever had ANY Write Offs @ Lending Crowd.

For the 1st time in months I do not even have any loans in arrears right now.

I currently have one in arrears, but is only 2 or 3 days.
I am annoyed with myself for not taking screenprints or photos of the details page of each loan i placed funds into.... in the early few months of my investing into Harmoney i did so, but that just grew too large & then too HM ultimately made their links to viewing that detail so easy.... i was hoping LC was going to move towards offering access to more detail on their site, but nothing as yet!
So best i do start gathering this detail like you currently do Saamee ...

DonB
05-12-2016, 06:41 PM
Hi. So I've taken the leap. I've chosen to start with LC and am starting to build up my diversified loans. Lucky for me there were two loans today.

Do people rely on the LM for a summary of your situation or have people created their spreadsheet. I'm no good with spreadsheets so I'm hoping the LM summary is good enough.

Saamee
05-12-2016, 09:02 PM
Hi. So I've taken the leap. I've chosen to start with LC and am starting to build up my diversified loans. Lucky for me there were two loans today.

Do people rely on the LM for a summary of your situation or have people created their spreadsheet. I'm no good with spreadsheets so I'm hoping the LM summary is good enough.

Hi DonB,

I soley rely on the Lending Crowd summary. Personally I find that enough data - for my needs.

The only thinig I do is combine the data from our two accounts ( mine & wifes ) to get an overall NAR and loans repaid etc....

Whippeedo
06-12-2016, 12:43 PM
New loan up at 125pm today. @ 142pm today nearly all subscribed. Way to go LC. Be good of you could get more loans to invest in. Way too lean on offerings since your launch.

Saamee
06-12-2016, 12:58 PM
New loan up at 125pm today. @ 142pm today nearly all subscribed. Way to go LC. Be good of you could get more loans to invest in. Way too lean on offerings since your launch.

I'll always desire fewer Quantity of Loans over many Poor Quality of Loans!

There is many of the latter over at Harmoney....

Whippeedo
06-12-2016, 01:17 PM
I'll always desire fewer Quality of Loans over many Poor Quantity of Loans!

There is many of the latter over at Harmoney....

Good point

whitt
07-12-2016, 03:43 PM
I'll always desire fewer Quantity of Loans over many Poor Quality of Loans!

There is many of the latter over at Harmoney....
I agree much prefer few good loans than many crap.
I use LC to get my stock of quality loans and if I want lower quality I go Harmoney.

whitt
07-12-2016, 03:47 PM
LATEST EMAIL UPDATE TO INVESTORS::


I'm sure, like us, you're finding the year is speeding to a close now. The end of the year will mark Lending Crowd's first year anniversary and we thought we'd share a few statistics with our investors to give you an insight into the platform to date:

Loan applications received: $32,378,150.00
Loans written: $5,020,140.00
Write offs: None
Available for investment (monthly av. last 6 months): $456,792.00
Personal loans: 92%
Business loans: 8%
Loans secured with vehicles: 74%
Loans secured with property: 4%
Loans secured with property and vehicles: 22%
Investors: 482
Average investors per loan: 40
Average return (NAR): 12.65%


Of note is the volume of writeoffs and average NAR. 5 out of 32million loans get written too. .That explains why the quality is so high, they must carefully vet each applicant.
Wow!!! An impressive first year.

Saamee
07-12-2016, 08:42 PM
LATEST EMAIL UPDATE TO INVESTORS::



Of note is the volume of writeoffs and average NAR. 5 out of 32million loans get written too. .That explains why the quality is so high, they must carefully vet each applicant.
Wow!!! An impressive first year.


Yes I 2nd that > thanks very much Team LC-It's been fun learning about P2P over the last 12 months with you.

DonB
08-12-2016, 07:05 AM
So I've been in for a couple of days now and have been pleasantly surprised by the number of loans becoming available. Is this rate of new loans about normal?

I've taken a bit of most that have come through as even the A1s are much better than what I am getting in the bank.

The summary stats are impressive. I'm pleased to see that so many loans are declined as that means good quality loans for us and people are not being encouraged to get into debt they cannot afford.

Zero write offs is impressive but I presume there have been defaults where LC has taken the security. Would that be right?

Minvestor
08-12-2016, 07:34 AM
Yes, excellent stats -- much kudos to LC. I too would rather have this sort of quality than a greater quantity. My NAR is a couple of points below the overall NAR, and that's the way I'd like it to stay, being more interested in much better income than the banks without losing my money! Looking forward to another great year.

Saamee
08-12-2016, 10:41 AM
So I've been in for a couple of days now and have been pleasantly surprised by the number of loans becoming available. Is this rate of new loans about normal?

I've taken a bit of most that have come through as even the A1s are much better than what I am getting in the bank.

The summary stats are impressive. I'm pleased to see that so many loans are declined as that means good quality loans for us and people are not being encouraged to get into debt they cannot afford.

Zero write offs is impressive but I presume there have been defaults where LC has taken the security. Would that be right?

I've invested in approx 35 out of maybe 50 loans available per month.

About Write Off's - I think they mean NO Write offs ever > Otherwise our Dashboards would show Written Off.

There has been no other postings from anyone else here to suggest a Write Off....... Ever :)

Saamee
09-12-2016, 12:15 PM
Four loans already today up on LC.......

DonB
09-12-2016, 07:07 PM
Yes, the lack of write offs is great. I'm also pleased about the quantity

Bryanz
11-12-2016, 07:41 AM
I've just joined Lending Crowd and have invested in three loans. To my dismay I now find the loan details are no longer viewable on the Lending Crowd website. To my mind it is essential to have this record in order to invest effectively but it seems they have no present plans to change it. I'll start doing screenshots.
So this is a plea at Aedi's suggestion that if anyone invested in the following loans, I would be most grateful if you could email me a copy of the borrower profile:
LN000-023-335, LN000-023-372, LN000-023-529.

I've been investing with Harmoney since December 2015. My RAR there is 17.07%, quite high, although it's spread over A15%, B22%,C38%, DEF25%. I'll be moving to a more conservative strategy acknowledging that some of these loans will probably still be running when the next economic downturn comes, and I see using Lending Crowd as part of that since all loans are secured.

Any help with the loan details above would be much appreciated.

Bjauck
11-12-2016, 08:41 AM
I've just joined Lending Crowd and have invested in three loans. To my dismay I now find the loan details are no longer viewable on the Lending Crowd website. To my mind it is essential to have this record in order to invest effectively but it seems they have no present plans to change it. I'll start doing screenshots.
So this is a plea at Aedi's suggestion that if anyone invested in the following loans, I would be most grateful if you could email me a copy of the borrower profile:
LN000-023-335, LN000-023-372, LN000-023-529.

I've been investing with Harmoney since December 2015. My RAR there is 17.07%, quite high, although it's spread over A15%, B22%,C38%, DEF25%. I'll be moving to a more conservative strategy acknowledging that some of these loans will probably still be running when the next economic downturn comes, and I see using Lending Crowd as part of that since all loans are secured.

Any help with the loan details above would be much appreciated. It should be easy for Lending Crowd to enable loan details to continue to be linked and accessible to investors. Have they given any reasons why this won't happen?

As you have been an investor with Harmoney for 12 months, your notes are probably all either within or approaching the most risky part of the Hazard Curve. So maybe still a high chance, recession or not, that your excellent RAR may drop :(

Saamee
11-12-2016, 12:31 PM
I've just joined Lending Crowd and have invested in three loans. To my dismay I now find the loan details are no longer viewable on the Lending Crowd website. To my mind it is essential to have this record in order to invest effectively but it seems they have no present plans to change it. I'll start doing screenshots.
So this is a plea at Aedi's suggestion that if anyone invested in the following loans, I would be most grateful if you could email me a copy of the borrower profile:
LN000-023-335, LN000-023-372, LN000-023-529.

I've been investing with Harmoney since December 2015. My RAR there is 17.07%, quite high, although it's spread over A15%, B22%,C38%, DEF25%. I'll be moving to a more conservative strategy acknowledging that some of these loans will probably still be running when the next economic downturn comes, and I see using Lending Crowd as part of that since all loans are secured.

Any help with the loan details above would be much appreciated.

Hi Bryan and welcome on the board....

I keep screen shots, but only of the loans I invest in.

However every investors gets assigned a different LN# ( loan note # ) and then collectively all the individual LN's make up the Loan Contract LC.

To help you I would need the LC# of your loans.

I correlate every LC# to my individual LN#

Bryanz
12-12-2016, 09:21 PM
Thanks, Saamee. I've been talking to Aedi and it seems I can't get the LC#. She says I need to quote the loan details which are:
B1, personal, 60 months, 14.79% opened 2.12.16
A1, personal, 36 months, 7.90%, opened 9.12.16.

So if anyone is able to identify they invested in the same loan (Probably easiest to find by starting with the date it was opened and can send the loan details if they have thenm, I would be very grateful.

Bryanz
12-12-2016, 09:33 PM
Bjauck, No reason other than it's not part of the system and there are no plans currently to add it. I stirred the pot and asked that my displeasure be communicated to management. I'm not saying it makes Lending Crowd undesirable, just that it's not user-friendly. Harmoney are way ahead in this area it seems. But my view is that there will be another recession, it's only a matter of when. The default rate could rise on loans we have already invested in. So I am happy to lend a bit more conservatively and accept a slightly lower return meanwhile. Lending Crowd's lending policy helps with this strategy.

Saamee
12-12-2016, 10:12 PM
Thanks, Saamee. I've been talking to Aedi and it seems I can't get the LC#. She says I need to quote the loan details which are:
B1, personal, 60 months, 14.79% opened 2.12.16
A1, personal, 36 months, 7.90%, opened 9.12.16.

So if anyone is able to identify they invested in the same loan (Probably easiest to find by starting with the date it was opened and can send the loan details if they have thenm, I would be very grateful.

Here's one for you.... I do not invest in 7.9% loan so cannot help you there....

8516

Whippeedo
13-12-2016, 04:05 PM
Where's the loans LC? Lots of keen investors out here but very few of your great loans available :(

Saamee
13-12-2016, 08:10 PM
Where's the loans LC? Lots of keen investors out here but very few of your great loans available :(

You asked and within an hour or so - 1 new Loan came out of the wood work!

Saamee
15-12-2016, 03:55 PM
Wow - The following loan went inside 2 min of the notification!!!

8530

CR111
15-12-2016, 03:57 PM
Saw the email come through, went straight on, and still missed out!

Ellipsis
15-12-2016, 05:08 PM
Has anyone had any issues with fund deposits this week? We deposited some money on Tuesday and it hasn't shown up in the account. Usually it shows up on the same day. LendingCrowd isn't replying to our email either.

Saamee
15-12-2016, 05:41 PM
Has anyone had any issues with fund deposits this week? We deposited some money on Tuesday and it hasn't shown up in the account. Usually it shows up on the same day. LendingCrowd isn't replying to our email either.

In 12 months being with LC I have never ever had an issue with Deposits to the Account ( it is ASB to ASB which is really easy though )

Give Aedi a call ( she does not bite! ) and is really very very helpful.....

What bank are you with??

PennyPicker
16-12-2016, 04:56 AM
Has anyone had any issues with fund deposits this week? We deposited some money on Tuesday and it hasn't shown up in the account. Usually it shows up on the same day.

Yes. I too had somewhat relied on the same day clearance for deposits. In the past month maybe, it's now taken 2-3 working days to clear. (Disc, I'm with Westpac.)

Ellipsis
16-12-2016, 07:15 AM
Thanks guys. I am with ASB and have not had problems before. Might give them a call.

Saamee
16-12-2016, 12:52 PM
Thanks guys. I am with ASB and have not had problems before. Might give them a call.

ASB to ASB is instant these days.

Aedi can sometmes clear the same day with a call or Email to let her know you have done a Xfer.

Trust you will get it sorted out soon.

whitt
16-12-2016, 05:22 PM
Yes. I too had somewhat relied on the same day clearance for deposits. In the past month maybe, it's now taken 2-3 working days to clear. (Disc, I'm with Westpac.)
My last one this week from ANZ to LC was over a day to process by LC. I had hoped same day but it seems to have taken a touch longer this week

Pipi
19-12-2016, 04:28 PM
Yeah actually got in, in time for a loan. It is still open. Usually I have been missing out of late.

DonB
20-12-2016, 08:31 AM
Has the fact that LC reported no write-offs in their first year influence your investing? I find myself looking an investment opportunity over, having some questions about how good it might be and then saying to myself -"but they had not write-off"

whitt
20-12-2016, 09:27 AM
Has the fact that LC reported no write-offs in their first year influence your investing? I find myself looking an investment opportunity over, having some questions about how good it might be and then saying to myself -"but they had not write-off"
Odds are they will have writeoffs in time. It does influence me sublimely but deep down I try to ignore this and invest without that knowledge.

Saamee
20-12-2016, 12:20 PM
Odds are they will have write offs in time. It does influence me sublimely but deep down I try to ignore this and invest without that knowledge.

Lending Crowd are only 'Human' too. So one day yes they will surely have to release\ issue a Write Off to the Investors. ( It will be a big shock to us all....... And Them! )

However you got to agree both their Borrower selections criteria and their Arrears collection procedures are working correctly right now :)

whitt
20-12-2016, 02:21 PM
The last week or two there seems to have been more listings which is good

PennyPicker
21-12-2016, 10:23 AM
I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...

It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)

The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.

In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.

Sounds good or silly?

Saamee
21-12-2016, 11:06 AM
I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...

It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)

The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.

In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.

Sounds good or silly?

Hi 'PP' > Yes it's Xmas however I somehow don't think Wayne will give you a Ho Ho Ho!

I get what you are saying but I guess it will stay as a 'Cash Up Front' basis.

Bjauck
21-12-2016, 12:43 PM
Hi 'PP' > Yes it's Xmas however I somehow don't think Wayne will give you a Ho Ho Ho!

I get what you are saying but I guess it will stay as a 'Cash Up Front' basis. When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.

Saamee
21-12-2016, 12:53 PM
When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.

Yes, right now not one of the NZ P2P lenders do pay Interest on Investors money awaiting loans.

There is a reason for it that Squirrel explained to me once ( even though JB committed to it happening maybe 12 months ago now, on their thread on this site ) Something like it changes the 'Beast' from a P2P lender to something like that of a Bank status and that is not covered by their Financial Markets Authority Operating License today.

Investor
21-12-2016, 12:55 PM
I was thinking it would be nice if there was a 'pre approval' limit for lending on loans. Then I wouldn't be rushing to deposit funds like I am today...


It could work on a ratio system, allowing for defaults. So for example if I had $5000 invested I might be allowed a limit up to $100 to lend on loans without having the cash immediately available. LC have my whole loan portfolio as security so if I don't deposit the $100 in 3 working days they simply retrieve the funds from my returns over time. (Yes, this requires a reasonable amount of backend dev work.)


The maximum amount offered to me is a ratio of my portfolio rated against their calculated default rates, with a margin for 'piece of mind' security added. They could even charge penalty interest if they're concerned about their loan to debt ratio being adversely affected.


In this case the $100 might not seem like much, but that's not the point, it's to let you invest in loans without having cash sitting unused.


Sounds good or silly?


Good idea however as you've pointed out this would require significant setup costs. They would be offering a lending facility themselves if this were the case which usually comes with heavy legal and regulatory constraints. Also I imagine having existing loans as security could be difficult to arrange. Currently peer to peer lenders are acting as the "middle man" in lending. If they began to technically "own" some loans there may be further regulatory debates e.g. around the lending application fees they charge (as we have already seen with Harmoney) and it would generally open a whole new can of worms I imagine they would rather avoid.







When on call interest rates increase, maybe they will consider paying interest on the investor's account over a certain balance.


I'd say this is extremely unlikely.

PennyPicker
21-12-2016, 02:23 PM
Good idea however as you've pointed out this would require significant setup costs. They would be offering a lending facility themselves if this were the case which usually comes with heavy legal and regulatory constraints.

Hmm... what if you reframed it... LC aren't providing me with a loan, but they are investing in the loan themselves (this might be dodgy but ignore it for this thought experiment), and when I front with the cash they basically transfer ownership of the loan units to me. They're doing this latter part already.

whitt
21-12-2016, 04:48 PM
GUYS
There is 5 listings currently on LC at present available. There have been times a month or so ago when loans were scarce, now is your chance to get in.
Heaps of variety today

DonB
23-12-2016, 08:22 AM
I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?

Saamee
23-12-2016, 11:04 AM
I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?

I'm leaving enough in for the potential of 3 New loans being available over till Tuesday evening.

Remember next week they are closed on Friday 30th DEC

Kelvin
23-12-2016, 05:38 PM
I'm wondering whether to put extra money in my account for the long weekend. I know it's hard to predict but do those with more experience of LC have any advice?

I'm taking a break from P2P investing over Christmas and New Year. I'm sure they'll be heaps of loans next month when people realise they've spent too much for Christmas and have their credit cards to pay off

Saamee
23-12-2016, 05:51 PM
I'm taking a break from P2P investing over Christmas and New Year. I'm sure they'll be heaps of loans next month when people realise they've spent too much for Christmas and have their credit cards to pay off

Ha ha ha - To True ;)

Also January is the prime month for Arrears to start building after the costs of Xmas \ New Year \ Holidays and back to School!!

Saamee
27-12-2016, 03:13 PM
I'm leaving enough in for the potential of 3 New loans being available over till Tuesday evening.

Remember next week they are closed on Friday 30th DEC

OK no new loans at all over the 4 day break...

jmacka
27-12-2016, 04:24 PM
Still the same B1 loan there since before Christmas.

Saamee
04-01-2017, 05:01 PM
A very busy 1st day back for LC >> 6 new loans on the board & 6 loans invested in.... Keep up the good work.

Darchie
09-01-2017, 04:49 PM
This B1 loan was listed up filled & then reversed 6 jan ... OMG its just been relisted up again now & it's identical ... seems a bit squiffy!!!

jmacka
10-01-2017, 02:45 PM
I was waiting for what seemed like days for that loan to go through!

jmacka
15-01-2017, 10:26 AM
Hi all,
Any idea which of these two loans has a loan purpose of "Asset purchase" and the other "personal"? LN000-027-005 & LN000-027-026.
Both of them are very similar, both B1's, both 60 months, both 14.79% interest, both bought on the 11th Jan and opened on the 13th. Just want to ensure that my spreadsheet is correct, many thanks.

Saamee
15-01-2017, 11:27 AM
Hi all,
Any idea which of these two loans has a loan purpose of "Asset purchase" and the other "personal"? LN000-027-005 & LN000-027-026.
Both of them are very similar, both B1's, both 60 months, both 14.79% interest, both bought on the 11th Jan and opened on the 13th. Just want to ensure that my spreadsheet is correct, many thanks.

Hope the following86038604 may help you...

jmacka
16-01-2017, 09:33 AM
Great, thank you Saamee.

permutation
25-01-2017, 08:41 PM
I have found now that LC is so slow, I just can't persevere with this, so unfortunately will be withdrawing as funds become available.
Have to praise LC for their outstanding website as opposed to another Major P2P lender.

Saamee
25-01-2017, 10:58 PM
I have found now that LC is so slow, I just can't persevere with this, so unfortunately will be withdrawing as funds become available.
Have to praise LC for their outstanding website as opposed to another Major P2P lender.

Do you mean quantity of loans?

permutation
26-01-2017, 09:55 PM
Do you mean quantity of loans?

Yes, that's correct Saamee.

whitt
26-01-2017, 10:13 PM
I have found now that LC is so slow, I just can't persevere with this, so unfortunately will be withdrawing as funds become available.
Have to praise LC for their outstanding website as opposed to another Major P2P lender.

That is the dilemma I guess: Very few loans but good quality vs Harmoneys excessive volume of loans that have varying quality.

Bjauck
27-01-2017, 11:20 AM
Lending crowd can be frustrating without the ability to auto-invest. With some smaller B1 & B2 loans if you cannot act almost as soon as the loans are posted, you lose the opportunity to invest in them. However the gradual incremental increase in invested capital suits me.

Ketel One
31-01-2017, 09:34 AM
Yep for the higher interest loans (> 14.79%) I've logged in a couple of minutes after seeing I have a text alert and still missed out. I've actually turned off my auto-invest on harmoney with the idea of investing in LC instead mostly, but the volume of available loans is so low on LC it may not be viable.

Saamee
03-02-2017, 02:05 PM
OK so a new Loan @ 14.79% just came thru via Email - Did anyone manage to get a Screen Shot of it?

I invested in it however by the time I went back to get the screen shot of the deal it was already fully funded.

It was "Gone in 60 Seconds" - Could make a good film title ha ha ha

Kelvin
08-02-2017, 10:04 AM
anyone else struggling to log into lc today?

AndyKiwi
08-02-2017, 10:36 AM
Yes, unable to login.


anyone else struggling to log into lc today?

Saamee
08-02-2017, 10:57 AM
Yes, unable to login.

Yes. From multiple devices.

Just Emailed them!

Saamee
08-02-2017, 11:30 AM
Yes. From multiple devices.

Just Emailed them!

Just got Logged in... Then it bombs out when you go to view the Loans....

Saamee
08-02-2017, 11:33 AM
Just got Logged in... Then it bombs out when you go to view the Loans....

Working OK Now

Saamee
08-02-2017, 04:43 PM
A little strange! 2 new Loans up within 1 hour of each other > Both for 10.35K and live in Rolleston.

The only difference... 1 x Default and the Credit Rating!! Smells Fishy ( or finger trouble! )


86678668

icyfire
08-02-2017, 04:46 PM
I wonder if these two Rolleston borrowers today are related to each other like husband and wife? One borrower has had 1 Credit Default in the last 2 months which is a big red flag.
8669 8670

Saamee
08-02-2017, 04:48 PM
I wonder if these two Rolleston borrowers today are related to each other like husband and wife? One borrower has had 1 Credit Default in the last 2 months which is a big red flag.
86698670

I'm wondering if it was Finger Trouble of the User ( else a little bit fishy - tarting up the Look of the loan ! )

One of the Two for sure will get Cancelled when it is filled up.

darrenc
15-02-2017, 07:58 AM
OK so a new Loan @ 14.79% just came thru via Email - Did anyone manage to get a Screen Shot of it?

I invested in it however by the time I went back to get the screen shot of the deal it was already fully funded.

It was "Gone in 60 Seconds" - Could make a good film title ha ha ha

I happened to be in front of the computer yesterday when a B2 came in for about $6k. I got a sneaky $100 in (first investor) then refreshed every few seconds watching it take larger leaps down towards zero until it had all gone within about 3 minutes. It seems there's a frenzy on B2 loans once the email comes through. B1 and A-grade are much easier to get into.

Bjauck
15-02-2017, 10:58 AM
I happened to be in front of the computer yesterday when a B2 came in for about $6k. I got a sneaky $100 in (first investor) then refreshed every few seconds watching it take larger leaps down towards zero until it had all gone within about 3 minutes. It seems there's a frenzy on B2 loans once the email comes through. B1 and A-grade are much easier to get into. Tough luck for those investors who cannot drop everything to review loans as they are posted. It is a pity that the platform does not allow for a staggering of loan availability. For example, 20% of each loan could be made available each half hour.

Saamee
15-02-2017, 12:12 PM
I happened to be in front of the computer yesterday when a B2 came in for about $6k. I got a sneaky $100 in (first investor) then refreshed every few seconds watching it take larger leaps down towards zero until it had all gone within about 3 minutes. It seems there's a frenzy on B2 loans once the email comes through. B1 and A-grade are much easier to get into.

Yes the B1 grades hit a real Sweet Spot with me...

A fair but not greedy return rate.

Saamee
08-03-2017, 02:26 PM
It's just coming up to 15 Months since Lending Crowd ( LC ) started their P2P Lending operation in NZ.

I am currently invested in 274 active loans with LC.

Over the 15 Months the amount of Capital Lost = ZERO.

The current # of Loans in Arrears is 4 ( 0.016% ) and NONE more than 4 days.

This is why I keep investing in LC = Keep up the good work Guys :)


Disclaimer: This IS NOT paid or sponsored by LC ( Wish it was!! )

Bjauck
08-03-2017, 03:50 PM
A good outcome! What percentage of your capital is in B2 loans?

Saamee
08-03-2017, 03:55 PM
A good outcome! What percentage of your capital is in B2 loans?

Good question ( easy answer is "The Majority" )

The reason it is hard to answer is that half the loans were taken out before i started saving a Screen Shot of every loan I get into @ LC.

I started saving Screen Shots from June 2016.

But even then those Screen Shot loans are not tabulated or broken down etc!

Not so easy to get that information readily from LC.

XxOrooxX
09-03-2017, 08:51 AM
Good question ( easy answer is "The Majority" )

The reason it is hard to answer is that half the loans were taken out before i started saving a Screen Shot of every loan I get into @ LC.

I started saving Screen Shots from June 2016.

But even then those Screen Shot loans are not tabulated or broken down etc!

Not so easy to get that information readily from LC.

Whats your annualised rate of return?

Ketel One
09-03-2017, 08:59 AM
I just realised that the Provance text alerts stopped quite a while ago now - it was what was prompting me to re-invest in loans and since they've stopped I've forgotten to log in to LC!

How are people getting email notifications of loans? I've had a look through my settings on my account but can't see anything?

Saamee
09-03-2017, 09:23 AM
Whats your annualised rate of return?

See attached Shot

8735

Saamee
09-03-2017, 10:08 AM
i just realised that the provance text alerts stopped quite a while ago now - it was what was prompting me to re-invest in loans and since they've stopped i've forgotten to log in to lc!

How are people getting email notifications of loans? I've had a look through my settings on my account but can't see anything?

settings >> investment account settings


8737

Ketel One
09-03-2017, 10:16 AM
settings >> investment account settings


8737

Thank you!!

PennyPicker
10-03-2017, 07:18 AM
I just realised that the Provance text alerts stopped quite a while ago now
Hi, I emailed everyone a week before taking the service down. I'm sorry if you got missed off the list or my email may have gone to the spam folder.

Ketel One
13-03-2017, 10:11 AM
Hi, I emailed everyone a week before taking the service down. I'm sorry if you got missed off the list or my email may have gone to the spam folder.

No worries at all - I was aware the service was going down, I just didn't get round to figuring out the LC email notifications till now.

Saw a few email notifications for loans I would have bought into over the weekend but was too slow to get any of them. Will need set up my phone's notifications for LC emails to be really obnoxious to get me to jump on it each time I receive one!

icyfire
15-03-2017, 03:00 PM
Most borrowers on LC use a vehicle and/or property as security.
Does anyone know if LC take into account the depreciating value of a vehicle when issuing the loan? Also, what happens if the borrower has crashed the car and now has a car of a lesser value than the car that was used as security for the loan?
What happens to the LC loan when the borrower defaults on their house mortgage and the bank forces a mortgagee sale which may only cover the mortgage?
I've called LC and put these questions to them but never got a straight answer. I personally like to know what I'm investing in!

Saamee
15-03-2017, 04:14 PM
Most borrowers on LC use a vehicle and/or property as security.
Does anyone know if LC take into account the depreciating value of a vehicle when issuing the loan? Also, what happens if the borrower has crashed the car and now has a car of a lesser value than the car that was used as security for the loan?
What happens to the LC loan when the borrower defaults on their house mortgage and the bank forces a mortgagee sale which may only cover the mortgage?
I've called LC and put these questions to them but never got a straight answer. They said that they can't reveal such information. That's not very transparent IMO. I personally like to know what I'm investing in!

Have you called Wayne Croad and spoken with him directly? He's very approachable.... He'll give you a straight answer to a straight question...

mccollr
15-03-2017, 05:41 PM
With all due respect. Maybe this form of investment is not for you. This is high risk, thus the high returns. A lot of borrowers that use this type of lending are not able to source funds from other lenders such as banks. In many cases this is the last stop.

icyfire
15-03-2017, 08:50 PM
With all due respect. Maybe this form of investment is not for you. This is high risk, thus the high returns. A lot of borrowers that use this type of lending are not able to source funds from other lenders such as banks. In many cases this is the last stop.

I am fully aware of the high risk, however, I'd still like to have an understanding of what I am investing in as opposed to just hoping for the best.

@Saamee Yes I've spoken to Wayne Croad and I did not get a straight answer unfortunately hence I am asking on this forum.

Snow Leopard
15-03-2017, 09:04 PM
...Yes I've spoken to Wayne Croad and I did not get a straight answer unfortunately hence I am asking on this forum.

Perhaps you would be so good as to tell us, as precisely as you can, what he actually said.
Then we can take it from there.

Best Wishes
Paper Tiger

mlt322
16-03-2017, 02:00 PM
Hi, I emailed everyone a week before taking the service down. I'm sorry if you got missed off the list or my email may have gone to the spam folder.

Hi Aaron, I just tried to send you a PM but it says your inbox is full and it won't accept any new messages :(

Saamee
16-03-2017, 05:18 PM
Anyone else having trouble Logging into LC right now ( Thu 18:00 ) ?

8752

darrenc
21-03-2017, 01:50 PM
Just watched a B1 loan for $5250 disappear in less than a minute. There are some heavy hitters putting four figures into these loans.

Saamee
21-03-2017, 02:27 PM
Just watched a B1 loan for $5250 disappear in less than a minute. There are some heavy hitters putting four figures into these loans.

Yes! It went too fast. Got the Email and was there within 10 seconds = Nothing left!

mp52
21-03-2017, 03:33 PM
Yes! It went too fast. Got the Email and was there within 10 seconds = Nothing left!

Just happened again. I'm curious how these can tap out so quick unless there is some automated scraper hitting the site in which case that's probably a breach of their TOS and that kind of traffic should be detectable in their logs..?

Saamee
21-03-2017, 03:38 PM
Just happened again. I'm curious how these can tap out so quick unless there is some automated scraper hitting the site in which case that's probably a breach of their TOS and that kind of traffic should be detectable in their logs..?

Personally - Got lucky this time.

It's the small Capital loans ( less than 7.5K ) can get swept up quickly!! Very very quickly!

nztyke
21-03-2017, 03:42 PM
Just happened again. I'm curious how these can tap out so quick unless there is some automated scraper hitting the site in which case that's probably a breach of their TOS and that kind of traffic should be detectable in their logs..?

I got some of that one; I got the email at 16.26, went straight on to the site and it was 80% filled by then. It was only a small loan though so my investment took another 6%. I don't even bother to read the the details, just hit the buy button

darrenc
22-03-2017, 12:18 PM
Just happened again. I'm curious how these can tap out so quick unless there is some automated scraper hitting the site in which case that's probably a breach of their TOS and that kind of traffic should be detectable in their logs..?

I got the email and logged on straight away and put $150 into it. Then I kept refreshing to see what happened. It was going down in large chunks, i.e $500-1000 each time and then was gone. Re a scraper: you could probably build something that does it. I'm assuming that's what people do with Harmoney, too, because lots of their loans seem to disappear within 5 minutes and it's rare to go online now and see 10+ loans like there used to be 6 months ago.

icyfire
22-03-2017, 02:30 PM
I don't even bother to read the the details, just hit the buy buttonThe fear of missing out, buy now and ask questions later! hehe
It's the new goldrush

Saamee
22-03-2017, 04:19 PM
Just watched a B1 loan for $5250 disappear in less than a minute. There are some heavy hitters putting four figures into these loans.

Even this late afternoons 25K loan went in about 10 minutes!

darrenc
23-03-2017, 08:27 AM
Yeah, it's not exactly a passive investment!

Saamee
23-03-2017, 08:30 AM
Yeah, it's not exactly a passive investment!

Ha ha Yes! An Aggressive Investment..... followed by Passive Returns!!

Reminds me of Sharks circling their Prey :)

Darchie
23-03-2017, 02:27 PM
One of these loans states excellent credit ratings ... yet both people have defaulted once over past two years ... those two aspects seem to clash for me! Whats your thoughts...

Saamee
23-03-2017, 02:40 PM
One of these loans states excellent credit ratings ... yet both people have defaulted once over past two years ... those two aspects seem to clash for me! Whats your thoughts...

The security is over BOTH a Car and a 2nd Mortgage on a House....

icyfire
23-03-2017, 03:56 PM
One of these loans states excellent credit ratings ... yet both people have defaulted once over past two years ... those two aspects seem to clash for me! Whats your thoughts...Good point, that looks like a potential mistake. It pays to check the details for each loan. How can a borrower's Credit be Excellent when the borrower has defaulted in the last two years?

nztyke
25-03-2017, 08:16 AM
The fear of missing out, buy now and ask questions later! hehe
It's the new goldrush

Not really, I assume that LC's assessment of risk is better than mine, they are professionals I am a amateur. I have discovered that looking at the bad debts incurred with Harmoney that there was nothiing that particularly rang alarm bells at the time to make the debt written off more risky than others in with the same grade. I just now go on the grade on both sites.

Saamee
29-03-2017, 07:04 AM
No shortage of Loans coming through at Lending Crowd....

Have got invested in 30 Loans so far over the course of March 17 ~ The same number as Jan 17 and Feb 17....

Just a normal investing month @ LC ( Not all loans invested in - typically B1's plus a few B2's )

Also as things get busier here, I missed out on getting into a few B1's!!

Reading over at Harmoney & Squirrel things have very much slowed down.

Have not heard LC advertising anywhere recently - not sure how they are attracting their new Borrowers.... but they are doing well, which means their Investors will be doing well :)

Kelvin
29-03-2017, 08:28 AM
I saw a small Lending crowd ad on Stuff (I think) the other night

Demilich
07-04-2017, 05:53 AM
Anyone else have LN000-016-470?

Every month it seems to go overdue by about 15 days before being paid and reverting to zero. I'm assuming that they have their payment date out of sync with what is expected. Other than that I have had absolutely no issues with LC.

I agree that auto-bidding would be nice though.

With the speed that these goes, it might be a bit complicated to make fair though. I think it would have to be some sort of queue based or random system, otherwise all the smaller ones will end up with the first subscribers in the list and every one else would miss out. Could do something like:

- rotate through the list of auto-bidders placing $50 bids. If the loan is filled, then the next load starts with the next user in queue.

Making a fair system with bids of more than $50 would likely be even trickier.
)
And it would probably be the only way to get loans if it was implemented - doubt there would be many scraps left over (other than the very largest loans) for people wanting to bid manually.

Soolaimon
07-04-2017, 07:34 AM
Anyone else have LN000-016-470?

Every month it seems to go overdue by about 15 days before being paid and reverting to zero. I'm assuming that they have their payment date out of sync with what is expected. Other than that I have had absolutely no issues with LC.

I agree that auto-bidding would be nice though.

With the speed that these goes, it might be a bit complicated to make fair though. I think it would have to be some sort of queue based or random system, otherwise all the smaller ones will end up with the first subscribers in the list and every one else would miss out. Could do something like:

- rotate through the list of auto-bidders placing $50 bids. If the loan is filled, then the next load starts with the next user in queue.

Making a fair system with bids of more than $50 would likely be even trickier.
)
And it would probably be the only way to get loans if it was implemented - doubt there would be many scraps left over (other than the very largest loans) for people wanting to bid manually.
I don't have 0016-470 but I do have 011-237 which is now 35 days in arrears. This is the only loan I have out of 150+ that has been errant. Not like harmony where I have many defaults since it started. Not too worried yet, but will be interesting to see progress with payments/collection etc from LC.

Saamee
07-04-2017, 08:35 AM
I don't have 0016-470 but I do have 011-237 which is now 35 days in arrears. This is the only loan I have out of 150+ that has been errant. Not like harmony where I have many defaults since it started. Not too worried yet, but will be interesting to see progress with payments/collection etc from LC.

Hi Soolaimon (not heard from you for a while! )

Yes I too am in this loan. It had made good 4 days ago and the counter went back to 1 day late.

However their payment must have fallen thru and the counter continues.....

You can be sure LC are working hard in the background and bringing this to a close - one way or other :)

Soolaimon
07-04-2017, 04:35 PM
Hi Soolaimon (not heard from you for a while! )

Yes I too am in this loan. It had made good 4 days ago and the counter went back to 1 day late.

However their payment must have fallen thru and the counter continues.....

You can be sure LC are working hard in the background and bringing this to a close - one way or other :)
Hi Saamee, As far as I know this loan is their first to get more than a month in arrears, so, yes, I am sure they will be aware of their great performance so far and will be doing their best for us. And themselves!!
I have been logging on to my email many times a day now to try and catch a loan or two but not having much success and I am finding now that I have to invest up to $400 per loan to keep as near to fully invested as I can. This strategy can perpetuate itself as repaid loan values increase quite rapidly when a couple or so of larger investments are repaid in a few days.
All good though, Cheers S.

Saamee
07-04-2017, 05:21 PM
Hi Saamee, As far as I know this loan is their first to get more than a month in arrears, so, yes, I am sure they will be aware of their great performance so far and will be doing their best for us. And themselves!!
I have been logging on to my email many times a day now to try and catch a loan or two but not having much success and I am finding now that I have to invest up to $400 per loan to keep as near to fully invested as I can. This strategy can perpetuate itself as repaid loan values increase quite rapidly when a couple or so of larger investments are repaid in a few days.
All good though, Cheers S.

Are you already receiving the LC issued Email Alerts to both your PC and your Phone? They REALLY help...

Soolaimon
07-04-2017, 08:55 PM
Are you already receiving the LC issued Email Alerts to both your PC and your Phone? They REALLY help...

Yes I am but I am not on watch full time so miss a lot of them. I do notice though that later in the day around 4pm seems to be the time to be vigilant.

Saamee
11-04-2017, 07:46 AM
I saw a small Lending crowd ad on Stuff (I think) the other night

Caught them on NewsTalk ZB this morning ( Hosking O'Clock! )

Minvestor
12-04-2017, 09:28 AM
What keeps me busy is this -- I generally invest $250 in A2s, and have around 12K$ invested: The repayments of the loans, which I suppose will happen more often with A2s than with Bs (and good on them). I got 3 the other day, and the rate over about 1.5 years is around 33% of loans. Hard work, but no problem if there are plenty of new investments, but there aren't.

Saamee
13-04-2017, 07:43 AM
I don't have 0016-470 but I do have 011-237 which is now 35 days in arrears. This is the only loan I have out of 150+ that has been errant. Not like harmony where I have many defaults since it started. Not too worried yet, but will be interesting to see progress with payments/collection etc from LC.

The referenced Loan appears to have been made good overnight and back to Zero - Guess the funds will be released very late next week after the clearing period.

Toasty
13-04-2017, 11:01 AM
I haven't seen a loan in days. Its taken me about 2 months to place my first allocation of money. I may have to place it in larger amounts.

I do like the speed of the website and the way everything is laid out.

AndyKiwi
13-04-2017, 11:53 AM
LC website is down apparently. Its 12:50 PM now.

I did receive the tax certificate though through email. Thanks LC! :)

Saamee
13-04-2017, 12:05 PM
LC website is down apparently. Its 12:50 PM now.

I did receive the tax certificate though through email. Thanks LC! :)

Maybe only to new Loggings only. I've managed to stay Looged on the whole time ( I use Chromes Auto Easy Refresh Extension )

Saamee
20-04-2017, 12:26 PM
The Everyday LC Investors must now have a few $$'s stacked up ready to Invest, in what has been a noticeably quieter period @ LC for loans.

Could be a fair 'Bun Fight' the next time a small 14.79% ( B1 ) loan lands!! ;-)

whitt
20-04-2017, 01:38 PM
The Everyday LC Investors must now have a few $$'s stacked up ready to Invest, in what has been a noticeably quieter period @ LC for loans.

Could be a fair 'Bun Fight' the next time a small 14.79% ( B1 ) loan lands!! ;-)

That 39k A grade recently took a couple of days to fill tho

Saamee
21-04-2017, 05:18 AM
The Everyday LC Investors must now have a few $$'s stacked up ready to Invest, in what has been a noticeably quieter period @ LC for loans.

Could be a fair 'Bun Fight' the next time a small 14.79% ( B1 ) loan lands!! ;-)

Bugger!! Took an early night and missed the 6K @ 13.79% loan last night!

Darchie
21-04-2017, 09:22 AM
I got the email notification. . Logged in straight away .. but it was Already filled .. so I too missed out!

Saamee
26-04-2017, 08:51 AM
LC is on Fire this morning with a nice 80K @ 15.39% Loan up for grabs!!!

whitt
26-04-2017, 04:52 PM
LC is on Fire this morning with a nice 80K @ 15.39% Loan up for grabs!!!
opps
my account was at zero so missed it

myles
26-04-2017, 06:05 PM
It's still there... $2,950 to go...

jmacka
30-04-2017, 09:54 AM
Does anyone on this forum have loan LN000-019-129? B1, 14.79%, started on the 6th of October 2017. Currently 24 days overdue. I emailed Lending Crowd about this loan last month and they told me that the borrower isn't behind in payments but every month it shows me as being overdue.

Saamee
30-04-2017, 10:19 AM
Does anyone on this forum have loan LN000-019-129? B1, 14.79%, started on the 6th of October 2017. Currently 24 days overdue. I emailed Lending Crowd about this loan last month and they told me that the borrower isn't behind in payments but every month it shows me as being overdue.

6th of October 2017 >> = 2016 << Checked however was not in this one!

jmacka
30-04-2017, 10:38 AM
6th of October 2017 >> = 2016 << Checked however was not in this one!
Haha yeah 2016. 😀

Darchie
30-04-2017, 02:52 PM
Yes i have his loan and it's also showing as 24 days overdue ... but if coarse my loan number is different at LN000-019-110

Saamee
30-04-2017, 03:07 PM
Yes i have his loan and it's also showing as 24 days overdue ... but if coarse my loan number is different at LN000-019-110

OK... Actually I was in this Loan with a Contract ( LC ) # LC - L00-11-573 ( I was in this loan as it is my sweet spot % rate )

8822


Yes showing 24 days overdue....

You'll notice security is a Car PLUS a House so I would not be too worried.......

icyfire
01-05-2017, 10:04 AM
OK... Actually I was in this Loan with a Contract ( LC ) # LC - L00-11-573 ( I was in this loan as it is my sweet spot % rate )

8822


Yes showing 24 days overdue....

You'll notice security is a Car PLUS a House so I would not be too worried.......What would happen if there was a mortgagee sale and there was no equity left?

Saamee
01-05-2017, 11:33 AM
What would happen if there was a mortgagee sale and there was no equity left?

Isn't that why we accept a return of 14.70% per year?

Saamee
02-05-2017, 09:56 AM
How quick can a 2.25K loan go???? Gone in 20 seconds I reckon!!

Saamee
03-05-2017, 02:29 PM
Not everyday you find a "Juicy" 47.5K loan @ 14.79% on the board @ LC!

Got myself a nice slice of that one :)

Good work LC :)

Saamee
04-05-2017, 12:40 PM
A very welcome, busy burst of new loans this morning @ LC.... Great Investing!!

PennyPicker
04-05-2017, 03:17 PM
Indeed @Saamee.

Poor old A1 though, can't get any love.

Saamee
04-05-2017, 03:42 PM
Indeed @Saamee.

Poor old A1 though, can't get any love.

Hi PP, Yes agreed. 9% over at Squirrel = Better bet!

Soolaimon
11-05-2017, 04:58 PM
Over the last month or so I have been quite frustrated trying to invest new and repaid funds into LC. I can only check emails 4/5 times a day, so I miss out on a lot of B grades. This results in an average of 1K not working and when you add the fact that there is usually a good few days delay in new loans being activated, this also adds to the problem.
I decided to compare results over a 16 month period between LC and Harmoney, it is interesting as I was discouraged with Harmoney because of what I considered excess defaults and consequently stopped investing new funds. However, over the 16 months with a similar rate of depositing moneys my returns from Harmoney are much better than LC.
LC---25k invested for a return of $2030 gross interest.
HM---17k invested for a return of $2231 less $188 defaults = $2043.
Almost the same result with $8k less outlaid.
So I am back plugging away at HM and am doing my best to keep fully invested at LC

Saamee
11-05-2017, 07:00 PM
Over the last month or so I have been quite frustrated trying to invest new and repaid funds into LC. I can only check emails 4/5 times a day, so I miss out on a lot of B grades. This results in an average of 1K not working and when you add the fact that there is usually a good few days delay in new loans being activated, this also adds to the problem.
I decided to compare results over a 16 month period between LC and Harmoney, it is interesting as I was discouraged with Harmoney because of what I considered excess defaults and consequently stopped investing new funds. However, over the 16 months with a similar rate of depositing moneys my returns from Harmoney are much better than LC.
LC---25k invested for a return of $2030 gross interest.
HM---17k invested for a return of $2231 less $188 defaults = $2043.
Almost the same result with $8k less outlaid.
So I am back plugging away at HM and am doing my best to keep fully invested at LC

Understand what you are saying about LC... More Investors have to be onboard now and small to medium size Loans DO go quickly.

You've either got to be Retired or able to be on the end of a Mobile phone \ Laptop all day long now.

It's real pot luck even if you 'Are Connected' to be able to get the 2k to 4K loans in time - must just come down to pot luck!

icyfire
11-05-2017, 10:46 PM
@Soolaimon (http://www.sharetrader.co.nz/member.php?6685-Soolaimon) Perhaps you might want to try Squirrel Money which is a lot less time-consuming.

myles
13-05-2017, 12:47 PM
I kinda think that the Lending Crowd platform is broken for retail users - and is leading to bad practices for same.

The speed at which the 'best' loans disappear prevents any one from actually looking at the loan details before committing to buy, and the low frequency of loans means that to invest any more than only a small amount requires quite large amounts to be invested in a smaller number of loans - clearly going against the P2P 101 best investing strategy of diversification.

I regret putting money into this platform for the above reasons, but now that I'm committed for 5 years, I'll probably submit to investing in the large B1 loans that do come up very occasionally that hang around for more than a minute or two... The issue of having to keep an amount of money sitting in the platform not earning interest, waiting for these to come up, and the need for regular small top ups to continue investing without loss is a pain.

The time it's taken me to invest $2,000 in $250 increments with Lending Crowd, is the same time it has taken me to invest in excess of $25,000 in $50-$100 increments in Harmoney...

Saamee
13-05-2017, 01:20 PM
I kinda think that the Lending Crowd platform is broken for retail users - and is leading to bad practices for same.

The speed at which the 'best' loans disappear prevents any one from actually looking at the loan details before committing to buy, and the low frequency of loans means that to invest any more than only a small amount requires quite large amounts to be invested in a smaller number of loans - clearly going against the P2P 101 best investing strategy of diversification.

I regret putting money into this platform for the above reasons, but now that I'm committed for 5 years, I'll probably submit to investing in the large B1 loans that do come up very occasionally that hang around for more than a minute or two... The issue of having to keep an amount of money sitting in the platform not earning interest, waiting for these to come up, and the need for regular small top ups to continue investing without loss is a pain.

The time it's taken me to invest $2,000 in $250 increments with Lending Crowd, is the same time it has taken me to invest in excess of $25,000 in $50-$100 increments in Harmoney...

I agree, that I tend to Buy and then take time to look at the data plus take a Screen Shot for my records, if the loan is still hanging around!!

For me I am comfortable to put more into an LC loan because over what is now 18 months they have proved ( to me anyway! ) that their system for identifying good Loan applicants is extremely robust.

Why do I say this? Well in 18 Month ZERO $$$'s Lost and currently just 3 loans in Late Payment out of 303 Active loans.....

Kelvin
13-05-2017, 06:18 PM
The way I do LC is:

Get email push notification on phone
Check email. If A1 then ignore it. If small loan drop everything if I can to log in. If large loan I can take my time before logging in
Log in, LC is bookmarked on browser and password saved
Skim over loan details
Buy loan if it looks ok

This should take 1-2 mins max. Luckily I have a job in which I'm able to do this

icyfire
13-05-2017, 08:47 PM
There have been a few times I missed out on small loans because I took a few seconds to look at the loan info simply because I'm aware of not falling for the "fear or missing out" as that's when you make dumb investment decisions and end up potentially losing money. The fear of missing out is real!

The biggest issue I have with LC is that in order to spread your risk you need to diversify across at least 200 different loans. I've been investing in LC for 16 months and I've only got over 3k invested. In comparison, I have much more invested with Squirrel Money and Harmoney over the same time period.

Because the loans are pretty scarce perhaps LC need to limit the amount an investor can invest per loan so that more investors get a chance. Just saying!

Saamee
14-05-2017, 06:11 AM
Over the last month or so I have been quite frustrated trying to invest new and repaid funds into LC. I can only check emails 4/5 times a day, so I miss out on a lot of B grades. This results in an average of 1K not working and when you add the fact that there is usually a good few days delay in new loans being activated, this also adds to the problem.
I decided to compare results over a 16 month period between LC and Harmoney, it is interesting as I was discouraged with Harmoney because of what I considered excess defaults and consequently stopped investing new funds. However, over the 16 months with a similar rate of depositing moneys my returns from Harmoney are much better than LC.
LC---25k invested for a return of $2030 gross interest.
HM---17k invested for a return of $2231 less $188 defaults = $2043.
Almost the same result with $8k less outlaid.
So I am back plugging away at HM and am doing my best to keep fully invested at LC

@soolaimon That's a great large loan up there over the weekend - Security with Property & Vehicle plus Death Cover - Hope you got yourself a slice of that loan!!! :)

Soolaimon
14-05-2017, 07:46 AM
@soolaimon That's a great large loan up there over the weekend - Security with Property & Vehicle plus Death Cover - Hope you got yourself a slice of that loan!!! :)

Yes thanks, I saw that one early on, Now only got $9 available. First time down to that for months....

Soolaimon
15-05-2017, 05:49 PM
Yes thanks, I saw that one early on, Now only got $9 available. First time down to that for months....

That was short lived. Back out to $400 available and 2 good loans missed today..........

Saamee
15-05-2017, 05:58 PM
That was short lived. Back out to $400 available and 2 good loans missed today..........

Ha ha... Someone soon will be offering to set up a Broker service dealing on behalf for you Soolaimon!!!!

Entrep
16-05-2017, 08:31 AM
I thought I posed the below in this thread (it's in the SM thread but more LC related, so reposting here). Please delete/move one or the other if you want.

I have about $50K to initially invest in the P2P lending space. From reading the threads here many people agree that LC is more secure than Harmoney (all loans have either vehicle or house as security) so I am starting off with LC. I also know about the SquirrelMoney LoanShield and most people seem to say that is "most secure"? I will probably try both LC and SM and avoid Harmoney.

My biggest question is how much out of the $50K would you recommend I invest into each loan? Obviously diversification is better, but I also don't want money sitting there doing nothing while I wait for loans to come in. From what I gather it could take a while for all the $50K to be invested. In the Harmoney thread people are investing from $100 to $400 into each loan but it looks like that would take months to be fully invested on the other 2 platforms.

Also many here seem to say that they ignore the A loans on LC (eg the current loan L00-13-072 at 8.95% which I see has been available for a day or so now (seemingly much more time that other loans) and for that interest rate, would prefer SM) - is that correct? It sounds like Bs are the sweet spot on LC?

Thanks everyone

myles
16-05-2017, 08:55 AM
@Entrep, no one knows your risk appetite but you. In theory, if everything is 'normal', you probably have least risk in Squirrel, a little more in LC and a little more in Harmoney, but it very much depends on how you invest.

If there was suddenly a run on the 'shield' in Squirrel, and you have a large amount invested in a small number of loans you could find yourself well out of pocket.

The same could be said for the others, but a well diversified investment is always going to be the safest.

I struggle to get money into LC at $250 per loan at the moment, occasionally $500 (I suspect it would take you years not months to invest $50K, but that is only of what I've seen in the last 2 months). I'm not prepared to invest any more in a single loan as I think the risk is too high at that level.

The rule of thumb seems to be an investment size of 1% or less of your capital is the 'safe' amount. I personally try to invest more smaller amounts (I currently have an average loan size of $85 in each loan out of 50K in Harmoney that I'm very comfortable with). But then you need to consider the risk grades you invest in.

There is no one answer :(

Saamee
16-05-2017, 04:10 PM
LC's has rolled out a fantastic run and choice of new loans today - Most were @ 14% or over.......

PennyPicker
16-05-2017, 09:33 PM
LC's has rolled out a fantastic run and choice of new loans today - Most were @ 14% or over.......

Yes, it was a beautiful thing, and I had cash on hand (for a change) :)

PennyPicker
16-05-2017, 09:42 PM
I was doing some work tonight to calculate loan distribution and noticed that of my 300 loans, 60 have been repaid, 20%. Since I started in Jan '16 that feels high.

From a grade distribution, I have a perfect bell curve of loans across grades at the moment (A2/B1 in the center), though no longer invest in A1 loans so it should slip to A2 - B1 - B2 over time (based on loan numbers). B1 loans see a larger piece of capital than the other grades.

8848

From a summary perspective, 18 months in LC and I'm very happy, regularly adding new capital until I reach my next goal.

Harmoney, disappointed in the loan quality, and not injecting new capital; effectively written off what I haven't withdrawn and treating it as a long shot for any real capital gain.

mp52
17-05-2017, 08:31 AM
LC's has rolled out a fantastic run and choice of new loans today - Most were @ 14% or over.......

Are we seeing the same thing? I saw about 3 to 4 As and Bs on 60mth terms - most over 14%. Better than its been but still seems pretty dry. I'm curious because I've got LC on a tight watching leash now so it would be odd if there were loans appearing I wasn't catching.


Harmoney, disappointed in the loan quality, and not injecting new capital; effectively written off what I haven't withdrawn and treating it as a long shot for any real capital gain

Agreed its not on par with LC but what distribution are you maintaining if you're not clearing 9% net p.a which seems like a pretty good return for the investment class (assuming good diversification)? I pulled funds out after the fee structure change last year but are ramping back in (to a point) mainly because the other providers don't have the same volume of loans.

PennyPicker
17-05-2017, 10:21 AM
I'm curious because I've got LC on a tight watching leash now so it would be odd if there were loans appearing I wasn't catching.

You're receiving email notifications for new LC loans?



Agreed its not on par with LC but what distribution are you maintaining if you're not clearing 9% net p.a which seems like a pretty good return for the investment class (assuming good diversification)? I pulled funds out after the fee structure change last year but are ramping back in (to a point) mainly because the other providers don't have the same volume of loans.

Return is at the moment, over 12% which is we'll say the same as LC. So with them both returning the same, I'm happier treating LC as my primary p2p platform. Harmoney and the state of the loan applications I see give me an uneasy feeling. I know you shouldn't 'buy' on gut feeling, but in this case I feel like I'm de-risking using my gut :) (Disc I have < $10k in Harmoney.)

Saamee
17-05-2017, 10:53 AM
You're receiving email notifications for new LC loans?




Return is at the moment, over 12% which is we'll say the same as LC. So with them both returning the same, I'm happier treating LC as my primary p2p platform. Harmoney and the state of the loan applications I see give me an uneasy feeling. I know you shouldn't 'buy' on gut feeling, but in this case I feel like I'm de-risking using my gut :) (Disc I have < $10k in Harmoney.)

Currently seeing 13.92% return at LC ( that's after their fee ) and ALL loans at least have some measure of security :)

PennyPicker
17-05-2017, 12:55 PM
That's a good return Saamee.

I just popped back to comment, @ mp52, on an unrelated matter I was checking GMail spam folder and just found two Lending Crowd loan emails from the 15th in there. The odd thing is, one other that day didn't goto spam and yesterday's emails were fine. My market analysis email was there too :( So maybe yours are being redirected as well?

Saamee
19-05-2017, 03:06 PM
That's an awesome 50.5K loan 19.1% .... Enough there for every one I think???

whitt
19-05-2017, 04:23 PM
That's an awesome 50.5K loan 19.1% .... Enough there for every one I think???
still 20k left too

Ketel One
19-05-2017, 08:19 PM
Yep, bought some of that one.

I must admit though, while I generally find lendingcrowd loans acceptable, the thought of a 27 year old with 50.5k of debt at 19.1% interest is a bit sobering- even if they do have house/vehicles as security. Hardly an ideal situation to find oneself in!

whitt
19-05-2017, 10:16 PM
It did make me look carefully too as reason was debt consolation.

Entrep
20-05-2017, 07:57 AM
Yep, bought some of that one.

I must admit though, while I generally find lendingcrowd loans acceptable, the thought of a 27 year old with 50.5k of debt at 19.1% interest is a bit sobering- even if they do have house/vehicles as security. Hardly an ideal situation to find oneself in!

Yeah strange set of circumstances... property (with mortgage), decent job and car... and the only option to borrow $50K is a loan at nearly 20%?? Bizarre.

Bjauck
20-05-2017, 10:02 AM
Yeah strange set of circumstances... property (with mortgage), decent job and car... and the only option to borrow $50K is a loan at nearly 20%?? Bizarre. Maybe they have to pay back those who may have lent them money for the deposit for the house. If the house is in Auckland the deposit for even a modest house could have been massive.

Saamee
20-05-2017, 10:37 AM
Maybe they have to pay back those who may have lent them money for the deposit for the house. If the house is in Auckland the deposit for even a modest house could have been massive.

Yes you just don't know, hey? My thoughts were Student Loan debt and who knows, marriage, past holidays, Illness Credit Card debts.....

whitt
20-05-2017, 11:51 AM
A 30k b1 has been listed today

Entrep
20-05-2017, 01:07 PM
How fast do they credit ASB TO ASB deposits in the weekend?

whitt
20-05-2017, 02:52 PM
How fast do they credit ASB TO ASB deposits in the weekend?

I haven't seen them do any in weekend's. But I might be wrong

Saamee
20-05-2017, 02:55 PM
I haven't seen them do any in weekend's. But I might be wrong

Lending Crowd = NO Repayments once Friday late arvo run is completed, till Monday late arvo

Squirrel = Every Day ASB to ASB :)

Entrep
20-05-2017, 03:36 PM
During the week LC credited my deposit in minutes. Squirrel there was a 24 hour wait. ASB to ASB with both.

Saamee
20-05-2017, 04:52 PM
During the week LC credited my deposit in minutes. Squirrel there was a 24 hour wait. ASB to ASB with both.

With Squirrel, Deposits In to SM I have found need to be Transferred in before Midnight for credit the next morning.

When taking out of SM, to be reliable always make your Withdrawal before Midday.

Saamee
23-05-2017, 03:55 PM
Another great day at LC for new loans today.... The 1st Loan I've sighted over 100K @ 14.79%.... Again enough for everyone.....

Entrep
23-05-2017, 06:42 PM
How much do you put into each Saamee? I do $500

Saamee
23-05-2017, 07:53 PM
How much do you put into each Saamee? I do $500

Depends solely on the type(s) of security on offer, from $250 up to $700 typically.

baldricknz
24-05-2017, 07:53 PM
I put in around $300-$350 on average but drop it down to $100 for business and loans that look iffy (like the $100k loan recently). I believe the theory for fractionalised lending is to have a minimum of 200 loans to spread the risk. Currently at around 220, shame some get paid off so fast.

Saamee
25-05-2017, 05:54 AM
I put in around $300-$350 on average but drop it down to $100 for business and loans that look iffy (like the $100k loan recently). I believe the theory for fractionalised lending is to have a minimum of 200 loans to spread the risk. Currently at around 220, shame some get paid off so fast.

Yes, early repayments are a part of P2P investing.... Below are the stats I keep on LC loans vs repayments FYI

8859

Robuste
04-06-2017, 12:13 PM
This loan is slow to fill. What have I missed? Security is only over vehicles maybe? Monthly outgoings are high? repayments are less then 10% of income. The amount is on the larger side compared with recent loans? Credit history etc all look ok?
Please tell me your rationale for not investing :)

Saamee
04-06-2017, 12:26 PM
This loan is slow to fill. What have I missed? Security is only over vehicles maybe? Monthly outgoings are high? repayments are less then 10% of income. The amount is on the larger side compared with recent loans? Credit history etc all look ok?
Please tell me your rationale for not investing :)

I've invested in this loan - no issues for me.

The previous week there were loans of 100K and 50K so this is some what smaller.

Maybe just the beginning of a new month, new season, Long Weekend and the Lions!!

It will be gone by Tuesday mid morning. LC purchases loans that Retail investors do not take all of, quickly.

Entrep
04-06-2017, 02:19 PM
That one came up late Friday I think. I put my "mid-level" investment amount into it.

Saamee
05-06-2017, 02:41 PM
Just $1,250 left to go now!!

Saamee
05-06-2017, 07:50 PM
Just $1,250 left to go now!!

Loan all gone now.....

mp52
08-06-2017, 09:01 AM
That's a good return Saamee.

I just popped back to comment, @ mp52, on an unrelated matter I was checking GMail spam folder and just found two Lending Crowd loan emails from the 15th in there. The odd thing is, one other that day didn't goto spam and yesterday's emails were fine. My market analysis email was there too :( So maybe yours are being redirected as well?

Sorry - bit late to the party PennyPicker. I'm not relying on the email notifications as anything B* or lower is usually gone by the time the email arrives - instead have a browser watch set on a 1min refresh but even then... Yesterday I think a B1 came up and was gone before I completed the order process. Time from posting to closing would have been between 10-70secs max!



Currently seeing 13.92% return at LC ( that's after their fee ) and ALL loans at least have some measure of security
Nice, I'm a point off that - I should have clarified the net figure I gave a few pages back was fees + tax. LC's the business, just getting a bit like flash trading - need a direct fibre connection into them to catch the loans - lol.

Saamee
08-06-2017, 10:35 AM
Sorry - bit late to the party PennyPicker. I'm not relying on the email notifications as anything B* or lower is usually gone by the time the email arrives - instead have a browser watch set on a 1min refresh but even then... Yesterday I think a B1 came up and was gone before I completed the order process. Time from posting to closing would have been between 10-70secs max!


Nice, I'm a point off that - I should have clarified the net figure I gave a few pages back was fees + tax. LC's the business, just getting a bit like flash trading - need a direct fibre connection into them to catch the loans - lol.

Yes agreed. It's good to see some much larger loans coming through that at least stick around for 24 hours!

I too missed out on the 2 x under 10K loans yesterday :(

Entrep
08-06-2017, 11:28 AM
I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly!

Saamee
08-06-2017, 11:37 AM
I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly!

Lucky timing - That's all I can reason, plus they take the whole Loan?

Bjauck
08-06-2017, 12:13 PM
I work on my PC and can login to LC within about 20 secs of getting the email. As soon as I see it I login.

There was 3 x $5K loans yesterday that were filled by the time I logged in. Unsure how people are doing it more quickly! Depends on how quickly you get the email. I have push email set up on two gadgets. I always get notification of new emails on the newer gadget by about a second or two earlier. With a popular small loan that could make a difference.

baldricknz
09-06-2017, 05:14 PM
Anybody know how the tax is meant to work in regards to Flex i.e. is flex subtracted then tax is taken out to get net gains, or is the total taxed then flex taken out? From what I can see my current tax rate is effectively 36% when it should be 33%?

Entrep
09-06-2017, 07:27 PM
Anybody know how the tax is meant to work in regards to Flex i.e. is flex subtracted then tax is taken out to get net gains, or is the total taxed then flex taken out? From what I can see my current tax rate is effectively 36% when it should be 33%?

So if it is the latter then you'd need to claim the flex/fees in your income tax return right? If the former then you wouldn't?

Their FAQ seems to indicate the latter:


RWT is tax which Lending Crowd must collect on behalf of the NZ Inland Revenue Department (IRD) on all interest paid to investors. Each investor selects the RWT rate appropriate to them as part of their investment account profile. If you're unsure which rate is most appropriate for you please talk to your accountant or the IRD. Please note Lending Crowd does not currently support non resident withholding tax (NRWT) or RWT exemption.

Entrep
12-06-2017, 11:01 AM
8899

That's the kind of loan I don't invest in on LC (I think I've passed on about 3 out of 30-40 investments)

How do others compare?

icyfire
12-06-2017, 06:17 PM
8899

That's the kind of loan I don't invest in on LC (I think I've passed on about 3 out of 30-40 investments)

How do others compare?

I agree. I can see a number of issues with that loan:
The spouse credit is only Good instead of Excellent which could mean anything. Perhaps the spouse has had a default in the past. Who knows!
Their debt to income ratio is far too high.
And the security is only a vehicle which could be worth anything. Probably not worth anywhere near the $50k

My conclusion was that it's a very risky loan.

baldricknz
13-06-2017, 02:59 PM
Yep gave that one a miss for the reasons stated above. Bit suss that it wasn't secured against the house as the car might only be worth $2k.

Entrep
13-06-2017, 07:15 PM
Yep gave that one a miss for the reasons stated above. Bit suss that it wasn't secured against the house as the car might only be worth $2k.

I'm assuming when they take out security they ensure it's valuable enough to cover the loan in full?

Entrep
13-06-2017, 07:16 PM
Anybody know how the tax is meant to work in regards to Flex i.e. is flex subtracted then tax is taken out to get net gains, or is the total taxed then flex taken out? From what I can see my current tax rate is effectively 36% when it should be 33%?

Confirmed with LC that Tax is deducted from the full interest amount before Flex is deducted.

So you need to then claim their fees as an expense in your tax return.

Saamee
13-06-2017, 07:48 PM
I'm assuming when they take out security they ensure it's valuable enough to cover the loan in full?

I'm told by LC that often where it states just Security = Vehicle(s) there can also be an amount of Cash \ Cash Flow taken into account too.

Entrep
13-06-2017, 07:58 PM
I'm told by LC that often where it states just Security = Vehicle(s) there can also be an amount of Cash \ Cash Flow taken into account too.

What do you mean? They consider income versus repayments and the amount of the loan? I'm curious to know if someone can take out a $30K loan with them, with a $2K car as the only security, for example.

icyfire
13-06-2017, 08:14 PM
What do you mean? They consider income versus repayments and the amount of the loan? I'm curious to know if someone can take out a $30K loan with them, with a $2K car as the only security, for example.I'm curious too. I wish that LC were more transparent and displayed a range for the vehicle value like they do for Monthly income.

baldricknz
14-06-2017, 06:10 PM
Nice one. Emailed them as well and was waiting to hear back whether the fees could be claimed back.

Cheers

baldricknz
14-06-2017, 06:16 PM
What do you mean? They consider income versus repayments and the amount of the loan? I'm curious to know if someone can take out a $30K loan with them, with a $2K car as the only security, for example.

I don't think the loans are always covered in full by the security, but it's probably one of the factors that decides their final interest rate based on risk. From memory Squirrel only a third or so of loans which have security against them.

Robuste
15-06-2017, 10:48 AM
What do you mean? They consider income versus repayments and the amount of the loan? I'm curious to know if someone can take out a $30K loan with them, with a $2K car as the only security, for example.

Income is not security you cant repossess and sell that :)

Entrep
15-06-2017, 11:29 AM
Income is not security you cant repossess and sell that :)

I meant if someone earns $500K they might loan them $50K with a $10K car as security versus someone who earns $30K, they might need a $20K car as a security just to get a $10K loan.

Saamee
15-06-2017, 11:52 AM
Many loans out today @ LC :)

Saamee
16-06-2017, 02:47 PM
OK well it's time for my 18 Month Investment Update on Lending Crowd....

Been in with LC since their very 1st loan which was issued on 21st December 2015.

Losses = NONE


Loan Early Repayments = 27.8%


Platform RAR = 13.96%


# of Loan = TOTAL = 439 ACTIVE = 317


Arrears = CURRENTLY 5 OR 6 ( 1.89% )


Out of the 3 x Platforms I do \ have actively invested in, for me this is the easiest, most straight forward and user friendly to use.

LC have grown with me as I have grown with LC.


Everyone investing in P2P is here for the same reason - to increase our earnings.


For me my initial aim in P2P was to earn in interest per week, Double what the NZ pension currently is. This milestone has now been reached.


8910

Happy P2P trading :)

Entrep
16-06-2017, 03:00 PM
Thanks Saamee

Kelvin
16-06-2017, 03:08 PM
For me it has been 1 year since Harmoney raised their fees and I started putting money into LC

222 Loans Open
56 Closed Paid
2 Overdue

Net Average Return 12.61%

baldricknz
16-06-2017, 05:28 PM
OK well it's time for my 18 Month Investment Update on Lending Crowd....

Been in with LC since their very 1st loan which was issued on 21st December 2015.

Losses = NONE


Loan Early Repayments = 27.8%


Platform RAR = 13.96%


# of Loan = TOTAL = 439 ACTIVE = 317


Arrears = CURRENTLY 5 OR 6 ( 1.89% )


Out of the 3 x Platforms I do \ have actively invested in, for me this is the easiest, most straight forward and user friendly to use.

LC have grown with me as I have grown with LC.


Everyone investing in P2P is here for the same reason - to increase our earnings.


For me my initial aim in P2P was to earn in interest per week, Double what the NZ pension currently is. This milestone has now been reached.


8910

Happy P2P trading :)

That's some serious $ invested in P2P. Including house I have approx 15% in P2P which is too high. Looking to diversify but unsure what market at this point. Gold/Silver/Commodities could be an option. The 1% in Crypto has done well so far. Not keen on the Sharemarket at this point, reckon it will head south soon.

PennyPicker
17-06-2017, 06:55 AM
Looking good Saamee.

My performance since inception (7 Jan 2016) is:

8912

8914

No longer participate in A1 grade loans.

I recently hit my first goal of 250 open loans, since then I've doubled the capital investment in all new loans (20 loans fall into this group, since breaking 250 16 loans have been closed).

Saamee
22-06-2017, 09:32 AM
Anyone else found the LC Website has disappeared right now? Unable to Logon!

8936

Darchie
22-06-2017, 09:40 AM
They say they're doing maintenance. .. google page gives ya more detail than just a trusty homescreen link.
I'd gone in early this morning & bank deposits werent in, so assumed something was amiss.

Entrep
22-06-2017, 11:42 AM
They picked a fantastic time to do it.

Darchie
22-06-2017, 02:05 PM
Obviously not a planned bit of maintenance ... more like more like unforseen problems... i haven't bothered ringing them, has anyone else rung to see what handle they're putting on it?