PDA

View Full Version : LendingCROWD NZ P2P



Pages : 1 2 3 4 [5]

leesal
18-12-2018, 06:50 PM
Having seen FDs balance sheet I endorse Saamee's view and believe that FD are there to add liquidity if required and rarely take positions themselves.

The issue I believe, is the sheer number of investors against the lack of loans. Investors in the thousands and loans between 0 to 5 daily (until lately usually 1 or 2). It appears this has been identified and a potential solution actioned.

On the other hand, I'm not keen on the prospect of lumping up an extra 15% of commission. Its a pity that loan availability could not be increased without having to accommodate third parties and their finders fee's.

Bjauck
18-12-2018, 06:57 PM
I am with icyfire. The few times I have been able to respond immediately, including once when I was already on the site, to b loans of reasonable size, they have been fully invested. This seems to be due to an auto-invest operating (either by FC or another party) or someone is taking the whole loan.

RMJH
19-12-2018, 10:30 AM
Couple of B loans sitting there. Something has changed.

Saamee
19-12-2018, 11:16 AM
Couple of B loans sitting there. Something has changed.


What... No Auto Invests programs running today....


The conspiratorial theorists must have been wrong!!

humvee
19-12-2018, 02:24 PM
What... No Auto Invests programs running today....


The conspiratorial theorists must have been wrong!!

The 1st 25% flex / fees loan went up on the site just before

unfortunately the notification emails don't list the flex %

Saamee
03-01-2019, 11:53 AM
New Month = New NAR

Has anybody else noticed a slow decline in their NAR ( approx 0,05% per month ) over the last 3 or so months?

I am thinking it is the new lower Interest Rate loans now appearing in the NAR calculations.

Any other thoughts?

humvee
03-01-2019, 08:44 PM
New in collection loan .... That won't help my NAR



Id
Grade
Type
Term
Rate*
Flex
Principal
Opened
Princ. recv.
Int. recv.**
Coll. end date***


LN000-063-992
B2
Personal
60 months
19.10%
10%
$50.00
04/04/2018
$2.58
$3.53
02/07/2019

Bjauck
04-01-2019, 08:10 AM
New in collection loan .... That won't help my NAR



Id
Grade
Type
Term
Rate*
Flex
Principal
Opened
Princ. recv.
Int. recv.**
Coll. end date***


LN000-063-992
B2
Personal
60 months
19.10%
10%
$50.00
04/04/2018
$2.58
$3.53
02/07/2019













No...and if it is only partly recovered, it will make a difference for your after tax NAR if you cannot deduct the capital loss for tax purposes.

Bjauck
04-01-2019, 08:13 AM
New Month = New NAR

Has anybody else noticed a slow decline in their NAR ( approx 0,05% per month ) over the last 3 or so months?

I am thinking it is the new lower Interest Rate loans now appearing in the NAR calculations.

Any other thoughts?
The 25% flex on referred loans will start to take a chunk out of the NAR.

Bjauck
04-01-2019, 08:16 AM
What... No Auto Invests programs running today....


The conspiratorial theorists must have been wrong!! Finance Direct have run out of money so are not taking their share?

icyfire
04-01-2019, 11:45 AM
Finance Direct have run out of money so are not taking their share?
That has now changed as Finance Direct raised $400k before Xmas to invest in LC loans.

leesal
04-01-2019, 12:23 PM
A question for somebody who wont be answering cynically :)

What is your approach to referral loans (will you be taking them, or avoiding?). One I picked up yesterday below.

Am thinking of either avoiding these loans (if I get a chance). Alternatively just taking the rough with the smooth - and factor that interest flex of 17.5% overall.

10229

Bjauck
04-01-2019, 04:43 PM
A question for somebody who wont be answering cynically :)

What is your approach to referral loans (will you be taking them, or avoiding?). One I picked up yesterday below.

Am thinking of either avoiding these loans (if I get a chance). Alternatively just taking the rough with the smooth - and factor that interest flex of 17.5% overall.

10229
I will try not to be cynical.
If you had the choice of investing in two loans with the same interest rate and risk profile but one was charging you flex of 25% and the other was charging you flex of 10%, which one would you take? I am not sure if I understand the situation correctly but does the person/ organisation who made the referral get to keep their commission in the event of a default whilst the p2p lender carries the risk of the capital loss whilst having paid the higher non-recoverable interest flex?

leesal
05-01-2019, 07:10 AM
I will try not to be cynical.
If you had the choice of investing in two loans with the same interest rate and risk profile but one was charging you flex of 25% and the other was charging you flex of 10%, which one would you take? I am not sure if I understand the situation correctly but does the person/ organisation who made the referral get to keep their commission in the event of a default whilst the p2p lender carries the risk of the capital loss whilst having paid the higher non-recoverable interest flex?

The lender would carry the full risk of capital risk, agents risk is that introductory client doesn't pay or repays early without refinancing (losing the commission stream).

The above question (between investing in 2 risks with/without interest flex at same interest rate) i wouldn't consider, as my objective is to build a diversified portfolio of loans where availability is a consideration. Thus the question is what is my overall system for risk selection, whether would consider investing in each of these loans on their own merits:

1. A1 loan at 7.99%
2. A2 loan at 10.99%
3. B1 loan at 14.54% with 25% interest flex
4. B2 loan at 17.99% with 25% interest flex

Generally speaking, I'm investing in 2,3,4. Although not with huge enthusiasm. My question is what is everyone else doing in terms of their risk selection criteria?

Saamee
05-01-2019, 12:25 PM
[QUOTE=leesal

1. A1 loan at 7.99%
2. A2 loan at 10.99%
3. B1 loan at 14.54% with 25% interest flex
4. B2 loan at 17.99% with 25% interest flex

Generally speaking, I'm investing in 2,3,4. Although not with huge enthusiasm. My question is what is everyone else doing in terms of their risk selection criteria?[/QUOTE]

I'm only going for 3's...

I'm after maintaining a NAV around 13%

Happy to invest in either Flex types as I feel it is better to be in a loan than money sitting in the bank \ in LC's bank getting little \ no interest

I ONLY invest in loans with Property as Security.

Saamee
05-01-2019, 03:09 PM
So what do you think is the largest 'Threat' to our investments in P2P within NZ?

I've just been mulling this over, especially with another World Economic crisis breathing down everyone's necks!

Well my take and penny worth is this > Personal Bankruptcies > Personal Borrowers that go 'Belly Up' ( Mortgage, Car Loan, P2P Loan etc )

Where P2P Borrowers decide the pain is not worth the gain.... So allow themselves to be taken through the Bankruptcy process.

Bjauck
05-01-2019, 03:34 PM
The lender would carry the full risk of capital risk, agents risk is that introductory client doesn't pay or repays early without refinancing (losing the commission stream).

The above question (between investing in 2 risks with/without interest flex at same interest rate) i wouldn't consider, as my objective is to build a diversified portfolio of loans where availability is a consideration. Thus the question is what is my overall system for risk selection, whether would consider investing in each of these loans on their own merits:

1. A1 loan at 7.99%
2. A2 loan at 10.99%
3. B1 loan at 14.54% with 25% interest flex
4. B2 loan at 17.99% with 25% interest flex

Generally speaking, I'm investing in 2,3,4. Although not with huge enthusiasm. My question is what is everyone else doing in terms of their risk selection criteria?
I think the net interest is a relevant factor.
Personally I would not consider that the extra risk of a B1 over an A2 loan would be worth it if the B1 loan was being charged 25% flex and the A2 loan was being charged with 10% flex. I would not consider B1 loans that are charged 25% flex. I would not consider B2 loans with either 10% or 25% flex at this stage in the business cycle.

Real estate Property security is a plus unless the mortgaged property has been owned for a year or less.

In effect you you would be earning 9.89% on the A2; 10.91% on the B1.
However that would need to be weighed up with the lower risk alternatives of earning approx 3.8% in a big Aussie bank term deposit or 0% in the account at Squirrel.

leesal
07-01-2019, 07:18 PM
I'm only going for 3's...

I'm after maintaining a NAV around 13%

Happy to invest in either Flex types as I feel it is better to be in a loan than money sitting in the bank \ in LC's bank getting little \ no interest

I ONLY invest in loans with Property as Security.

Thanks for your input, appreciated. However I'm interested in your thoughts.... A B2 25% flex loan is costing you nearly 3% over the standard. But compares favorably to your other options like bank/cash uninvested.

You consider the B2 with only Vehicle as security on 10%, giving you a 16.2% return as an unattractive? (relative to the bank or generating no return options?). My theory on this, and could be incorrect which is why am bringing up, is that the type of security would be factored into the grading/inherent riskiness of the loan. So to provide an example a B2 with vehicle may improve to a A2 if property was added.

Just interested, as these discussions help me refine my logic :)

leesal
07-01-2019, 07:32 PM
I think the net interest is a relevant factor.
Personally I would not consider that the extra risk of a B1 over an A2 loan would be worth it if the B1 loan was being charged 25% flex and the A2 loan was being charged with 10% flex. I would not consider B1 loans that are charged 25% flex. I would not consider B2 loans with either 10% or 25% flex at this stage in the business cycle.

Real estate Property security is a plus unless the mortgaged property has been owned for a year or less.

In effect you you would be earning 9.89% on the A2; 10.91% on the B1.
However that would need to be weighed up with the lower risk alternatives of earning approx 3.8% in a big Aussie bank term deposit or 0% in the account at Squirrel.

Agree with your logic, however if the B1/B2 10% flex loans weren't available, you'd be forced to consider the 25% flex against the other P2P and investment options.

Not quite sure that agree on avoiding B2 loans. There is no certainty a recession will hit in the next year, coupled with the (albeit limited) historical data from Lending Club from 2007 and 2008, that demonstrate small positive returns from A-C grades (without any security). Do you view B2 as more risky then a Lending Club (or for that matter Harmoney) unsecured loan?

CR_111
08-01-2019, 10:33 AM
I'm wondering how a $30K loan is all gone in less than a minute.

Kelvin
08-01-2019, 10:43 AM
Yup. Finding it impossible to get any loans recently. Surely no one can consistently log in and claim all available notes within seconds each and every time a loan is listed. Definitely some automation still out there

Kelvin
08-01-2019, 02:33 PM
I think I know what's happening now. Randomly logged in at 3:18pm and there was a $3250 B1 loan listed!*

The notification email didn't come in until 3:29pm! So I guess the emails are broken for at least some investors. I would be interested to hear if anyone else got this email any earlier or later than this?

*even without the notification email, the loan still filled up within 1 minute :ohmy:

myles
08-01-2019, 05:08 PM
Arrived in my inbox @ 3:22pm... (gmail)

Saamee
08-01-2019, 06:17 PM
I think I know what's happening now. Randomly logged in at 3:18pm and there was a $3250 B1 loan listed!*

The notification email didn't come in until 3:29pm! So I guess the emails are broken for at least some investors. I would be interested to hear if anyone else got this email any earlier or later than this?

*even without the notification email, the loan still filled up within 1 minute :ohmy:

I'm with Yahoo Mail... And yes since New Year the Emails have been very badly delayed ( Mobile & Laptop Yahoo Pop3 Emails )

Really has not assisted my investing - as I keep missing out :(

Kelvin
08-01-2019, 11:00 PM
Thanks myles and Saamee. I have sent an email to LC support detailing the issue.

Btw, i am using Gmail

Bjauck
09-01-2019, 03:24 PM
Agree with your logic, however if the B1/B2 10% flex loans weren't available, you'd be forced to consider the 25% flex against the other P2P and investment options.

Not quite sure that agree on avoiding B2 loans. There is no certainty a recession will hit in the next year, coupled with the (albeit limited) historical data from Lending Club from 2007 and 2008, that demonstrate small positive returns from A-C grades (without any security). Do you view B2 as more risky then a Lending Club (or for that matter Harmoney) unsecured loan?
I haven't done statistical analysis but I would treat B2 as a Harmoney c1-c3.
Although a recesssion is not a certainty I would say international and local conditions are not as rosy as they once were, so the business cycle is maturing.
Risk tolerance and ability to absorb capital write-offs may also depend on your tax circumstances (whether or not you can claim deductions for capital write-offs). On that basis it may effect retail investors willingness to undertake greater risk.

So in the next recession, if you are able to deduct loan write-offs that could make a material difference to your net returns.

Bjauck
09-01-2019, 03:32 PM
Thanks myles and Saamee. I have sent an email to LC support detailing the issue.

Btw, i am using Gmail I use gmail too...and have been able to login immediately recently. When I do, even the bigger loans (apart from those charging 25% flex) have gone.

I know it sounds cynical but are the big investors moneyed up and able to take first dibs again?

darrenc
09-01-2019, 08:58 PM
I use Google G Suite (business Gmail). The LC emails arrive within a minute of being sent. This is typical for a good email service as it's not checking every second.
I have an automated sequence that logs me in quite quickly.
Occasionally I'll be very early to get into a B1 and the majority is still remaining to be invested.
It's virtually impossible to get into a B2 of around $3k or less - it seems someone is using automation and taking big chunks, possibly $2000 for the first bite then repeating the order with a few hundred dollars and so on until they have all or the majority of the loan. I've seen loans drop several thousand at a time (I've watched loans by continually refreshing the page to see how quickly they disappear)
If I was going to do it, I would simply poll the page every 30-60 seconds and watch for changes then automatically take the order. To ensure I got all the loan, I'd probably run several parallel accounts all using some kind of scraper, just to reduce the suspiciousness of one account always getting the majority of a loan.
Having said that, I really don't think LC cares at all that someone is using software. They just want to fill the loan. Until they get to a point where there are more loans than investors and some loans don't get filled because people are frustrated with the system, there's no reason for them to change this.

Saamee
09-01-2019, 11:56 PM
I have an automated sequence that logs me in quite quickly.



I would be interested to hear more from you about what you have set up here?

Is using in Windows 10?

Rgds

darrenc
10-01-2019, 05:19 PM
I would be interested to hear more from you about what you have set up here?

Is using in Windows 10?

Rgds

Android - it's simple. I saved a shortcut to the phone's screen with the password saved in Chrome. I click the icon which opens the website in Chrome and fills in the username and password automatically, click sign in, click loan listings. It takes less than 5 seconds. On Windows, I have a shortcut in the browser bar - same deal and no need for anything more complex.

Bjauck
11-01-2019, 08:45 AM
I think I know what's happening now. Randomly logged in at 3:18pm and there was a $3250 B1 loan listed!*

The notification email didn't come in until 3:29pm! So I guess the emails are broken for at least some investors. I would be interested to hear if anyone else got this email any earlier or later than this?

*even without the notification email, the loan still filled up within 1 minute :ohmy: It may make a difference however I am not sure but have you checked to make sure That your mail app has background app refresh turned on (in IOS - I am not sure what the term used would be in other operating systems).

Kelvin
11-01-2019, 09:36 AM
It may make a difference however I am not sure but have you checked to make sure That your mail app has background app refresh turned on (in IOS - I am not sure what the term used would be in other operating systems).

Im getting push notifications from the Gmail app, as well as using the Gmail web app. There is no difference between the two, both getting the LC emails very late. I think it is an issue on the LC side, perhaps their email gateway being very slow. Extremely frustrating!!!

Saamee
11-01-2019, 12:59 PM
Arrived in my inbox @ 3:22pm... (gmail)

The below Loan I saw via the Website and got a Slice of at 13:51

Still NO Email notification to Win 10 Laptop and Android Yahoo Mail App

10255

Saamee
11-01-2019, 01:02 PM
Notification just came in NOW @ 14:01 - A 10 Minute delay.

Bjauck
11-01-2019, 01:05 PM
My IOS Gmail app receives emails within seconds from other people using different operating systems and emailing programs.

Perhaps the big corporate lender has a professional email app coupled with custom-tailored automated scripts for investing in new loans on Lending Crowd. If they do I suspect they ignore the loans incurring 25% flex.

myles
11-01-2019, 04:10 PM
Notification just came in NOW @ 14:01 - A 10 Minute delay.

Arrived in my inbox @ 13:57.

I have to wonder if it's not something as simple as alphabetical order of addresses and processing time of the mail server.

Whatever the cause, it really shows up another failing in the Lending Crowd system :(

Kelvin
11-01-2019, 04:17 PM
This time i got the email at 13:53. Only a 2 min delay!

PennyPicker
13-01-2019, 12:04 PM
Arrived in my inbox @ 13:57.

I have to wonder if it's not something as simple as alphabetical order of addresses and processing time of the mail server.

Whatever the cause, it really shows up another failing in the Lending Crowd system :(

That's what I'm thinking too @myles. Someone who is experiencing prolonged delay times should check; what letter does their email address/account name start with.

It kind of relies on their server logic taking a path like; foreach customer where email notifications are enabled, send email. Is this result set already sorted, by what, or do they sort the email list before processing? And then, just how quickly does their code send the emails... there's a lot of factors in play.

Saamee
13-01-2019, 11:32 PM
[QUOTE=PennyPicker;743744]That's what I'm thinking too @myles. Someone who is experiencing prolonged delay times should check; what letter does their email address/account name start with.
/QUOTE]

Well then..... I best change my name to Aaron Aardvak :)

But seriously, I have added my wife's account onto the Email Alerts...

She is with Gmail - Wait and See if there is a difference.

I'll report later on this week ahead.

Kelvin
15-01-2019, 12:37 PM
Response from LC regarding delayed emails.

"With the release of the referral program we made some slight changes to the order of the dispatch of emails which is now a shuffle order - sometimes you will be near top of the list and sometimes near bottom. The reason for this change is that we believe this method is fairer to all investors whether signed up since inception or new investors.

With the continued work behind the scenes to increase loan listing numbers, we hope in time this will alleviate the frustration you are having by offering more investment opportunities."

Saamee
15-01-2019, 01:38 PM
Response from LC regarding delayed emails.

"With the release of the referral program we made some slight changes to the order of the dispatch of emails which is now a shuffle order - sometimes you will be near top of the list and sometimes near bottom. The reason for this change is that we believe this method is fairer to all investors whether signed up since inception or new investors.

With the continued work behind the scenes to increase loan listing numbers, we hope in time this will alleviate the frustration you are having by offering more investment opportunities."

@kelvin > Appreciate you sharing your reply :)

icyfire
17-01-2019, 01:14 PM
My first loan written off on LC

Loan note LN000-057-737 has been written off. 76% of my principle in that loan was lost which brings into question the value of vehicles that are commonly used as loan security.

It appears that in a bid to increase loans availability the loan quality is dropping fast. Another loan (LN000-050-756) is in collection currently.

Saamee
17-01-2019, 01:36 PM
My first loan written off on LC

Loan note LN000-057-737 has been written off. 76% of my principle was lost which brings into question the value of vehicles that are commonly used as loan security.

It appears that in a bid to increase loans availability the loan quality is dropping fast. Another loan (LN000-050-756) is in collection currently.

With 76% of your Principle written off by YOUR investment in just ( 1 ) ONE loan - asks the question "Just how diversified were you"?

This you have to think about..

myles
17-01-2019, 02:27 PM
76% of that one loan I suspect?

icyfire
17-01-2019, 02:32 PM
With 76% of your Principle written off by YOUR investment in just ( 1 ) ONE loan - asks the question "Just how diversified were you"?

This you have to think about..

New investors would find it very difficult to diversify investing in LC as the very few loans that there are disappear in seconds. Previously some people thought that loan write-offs didn't occur on LC. But now the write-offs are coming fast.

PS: 76% of my principle in that particular loan was lost

humvee
17-01-2019, 02:36 PM
My first loan written off on LC

Loan note LN000-057-737 has been written off. 76% of my principle in that loan was lost which brings into question the value of vehicles that are commonly used as loan security.

It appears that in a bid to increase loans availability the loan quality is dropping fast. Another loan (LN000-050-756) is in collection currently.

This loan is also in collection currently

LN000-063-992 B2 Personal 60 months 19.10% 10% $50.00 04/04/2018 $2.58 $3.53 02/07/2019

darrenc
17-01-2019, 03:07 PM
I've gone from no loans in collection to 3 in the last 2 months
LN000-050-751 B2 Personal 36 months 18.74% 10% $100.00 17/10/2017 $22.77 $15.67 15/07/2019
LN000-054-905 B1 Personal 60 months 14.79% 10% $150.00 30/11/2017 $13.28 $14.46 28/05/2019
LN000-064-015 B2 Personal 60 months 19.10% 10% $100.00 04/04/2018 $5.17 $7.05 02/07/2019

The loans are going so quickly that there's no time to evaluate them. I just got into a B1 that was $15k (only just). The email took 300 seconds to deliver, which is a joke. The last 3 emails have all taken over 150 seconds to deliver and I've missed out.
LC's mail server must either be really crap or they have tens of thousands of investors in the mail queue.

I'm back up to over $1000 sitting in the kitty.

Darchie
17-01-2019, 03:12 PM
My initial thought was I liked to see property as security. However I asked LC what did they actually mean by property (as could mean a fridge, sofa or push bike!) But LC assured me it's a house. So next question I could not get any answer from LC. Has anyone else defined the following:

Is an instrument; as in a second, third or whatever mortgage registered onto the Title.
If so; Good ... BUT HOW could LC collection ever be successfully completed, in their specified period:- in a situation where the first Mortgagee is Happy As?... It's my understanding that any party other than the first Mortgagee Has Pretty Much No say or hope of getting anything much.....

Who has thoughts on: Just how good is property as security to us LC investors?

icyfire
17-01-2019, 03:35 PM
If a borrower used their property (house) as loan security, can LC force that borrower to sell the property if the borrower has defaulted on their loan?

Darchie
18-01-2019, 09:26 AM
My experience would say no... because LC will not be holding a first mtg over property ... I'm surprised no one has come in with any comments to my above post...

I do try to capture an image of loan details but, not always possible.
Has anyone got a copy of the loan details of my latest write-off ...
It was B2 Business loan 60 mths @19.75% with10% flex opened 28/12/2017 closed 17/01/2019
For me I invested $200 but only $48.20 Principal has been received ...

So considering this loan had guarantors (which legally gives not only business guarantee but private as well) I'm thinking much more should have been recoverable. Be extremely interesting to see the details if anyone has a copy of them.

I do wonder if LC have loosened up their standards and started accepting more riskier applicants!

joker
18-01-2019, 09:39 AM
My first loan written off on LC

Loan note LN000-057-737 has been written off. 76% of my principle in that loan was lost which brings into question the value of vehicles that are commonly used as loan security.

It appears that in a bid to increase loans availability the loan quality is dropping fast. Another loan (LN000-050-756) is in collection currently.

The problem with vehicles as security is that if the car has been raced, rallied & rolled, by the time it is repossessed it may be worth next to nothing. Even if it was insured, should it be pranged when the driver has been drinking or perhaps after the WOF has expired the insurance won't pay out so we the lenders miss out.

joker
18-01-2019, 09:55 AM
If a borrower used their property (house) as loan security, can LC force that borrower to sell the property if the borrower has defaulted on their loan?

Short answer is yes but it's a very lengthy process that can take a year or more and any money received is firstly used to pay out the 1st mortgagee. By the time legal costs, agent's fees and unpaid/penalty interest and costs due to the 1st mortgagee are paid out, dependent on the owners equity in the property, there may be little if any left over for the 2nd mortgagee.

icyfire
20-01-2019, 09:30 PM
Short answer is yes but it's a very lengthy process that can take a year or more and any money received is firstly used to pay out the 1st mortgagee. By the time legal costs, agent's fees and unpaid/penalty interest and costs due to the 1st mortgagee are paid out, dependent on the owners equity in the property, there may be little if any left over for the 2nd mortgagee.
In other words, it's almost a false sense of security investing in loans that have property/vehicle as security.

icyfire
20-01-2019, 09:38 PM
I do wonder if LC have loosened up their standards and started accepting more riskier applicants!
LC are trying hard to increase the number of loans to meet the investors demand and LC needs to ensure that the loans quality is not dropping. Perhaps greed is setting in and if that's the case then the trust in the platform will suffer in the long term. i could be wrong and only time will tell.

Saamee
23-01-2019, 07:21 PM
LC Website Outage....

This is the longest Outage that I can remember in 37 Months....

Went down at Midnight Tuesday with NO account activity updates.

Saamee
24-01-2019, 02:12 PM
LC Website Outage....

This is the longest Outage that I can remember in 37 Months....

Went down at Midnight Tuesday with NO account activity updates.

LC Website has now been back up again, about 30 minutes ago. :)

Saamee
25-01-2019, 01:20 PM
Only because I was "At the Screen" I was abel to get into the attached loan today.

It took 6 minutes for the 1st Email alert and the 2nd LC account still has NO Email alert!

10280

Saamee
14-02-2019, 03:31 PM
A reasonable number of loans have come through today...

Managed to get into 3 loans that I wanted to....

BUT you do have to be sitting in front of the computer screen to get them!

Bjauck
14-02-2019, 03:56 PM
A reasonable number of loans have come through today...

Managed to get into 3 loans that I wanted to....

BUT you do have to be sitting in front of the computer screen to get them! I have been on the laptop all day today and even so they were all invested in when I looked. You have to have an email address at the top of their priority list too.

It is a very unsatisfactory way of presenting loans to investors when the current system means that investors have little chance of being able to invest if they want to spend time to peruse the loan details prior to investing.

Saamee
14-02-2019, 04:01 PM
It is a very unsatisfactory way of presenting loans to investors when the current system means that investors have little chance of being able to invest if they want to spend time to peruse the loan details prior to investing.

Yes. Agreed... for us Investors...

However for LC... All is working = Loans are being Filled.... Very Quickly!

CR_111
18-02-2019, 01:20 PM
That's it for me. It's just not worth the time clicking on Lending Crowd emails promising new loans. Even if I take less than 5 seconds from receiving the email, a $20,000 loan is already gone.

mccollr
18-02-2019, 01:28 PM
That's it for me. It's just not worth the time clicking on Lending Crowd emails promising new loans. Even if I take less than 5 seconds from receiving the email, a $20,000 loan is already gone.


Me too. Gets so frustrating. It took me over two years to get $40k invested and will take a while to get that out. This is no longer investing as you have no time to have a look at the loans. But what really Pi....s me off is that when they banned the auto investor software only the honest ones complied and they are still being used with no repercussions.

Bjauck
18-02-2019, 02:11 PM
Me too. Gets so frustrating. It took me over two years to get $40k invested and will take a while to get that out. This is no longer investing as you have no time to have a look at the loans. But what really Pi....s me off is that when they banned the auto investor software only the honest ones complied and they are still being used with no repercussions. I wonder if eventually the only ”peers” left on the investor/lender side will be larger corporate entities? Would that then still be in keeping with the spirit and intent of P2P vehicles?

icyfire
18-02-2019, 08:36 PM
P2P lending is now misleading as most loans are filled by wholesale investors on both LC and Harmoney. Only Squirrel Money is purely for retail investors, for now.

Darchie
20-02-2019, 03:46 PM
Me too. Gets so frustrating. It took me over two years to get $40k invested and will take a while to get that out. This is no longer investing as you have no time to have a look at the loans. But what really Pi....s me off is that when they banned the auto investor software only the honest ones complied and they are still being used with no repercussions.

I agree with you about only the honest ones have complied ... In the past I've been keen to spend all this extra time trying to get loans. But have over the past few weeks realised my time is far better spent elsewhere..... So I basically give up as well ....

Gill
27-02-2019, 03:51 PM
There has been a rise of new loan listings on LC in the last two days, the majority of referred loans with 25% fee though. It will interesting to see if the supply remains like this. I managed to get into 7 loans since Monday

Saamee
28-02-2019, 07:59 PM
Fellow LC Investors!

Today LC released 2 x Loans onto the LC platform for us Investors...

However today I received NO Email Alerts form LC.

Just wondering who else may be starting to think that they are NOT receiving All and Every Email Alert form LC???

leesal
01-03-2019, 09:39 AM
Fellow LC Investors!

Today LC released 2 x Loans onto the LC platform for us Investors...

However today I received NO Email Alerts form LC.

Just wondering who else may be starting to think that they are NOT receiving All and Every Email Alert form LC???

No emails for me too, and none today either :(

Logging in there are two loans up at the moment - seem like relatively good ones and aren't going that quick.

Saamee
01-03-2019, 11:31 AM
No emails for me too, and none today either :(

Logging in there are two loans up at the moment - seem like relatively good ones and aren't going that quick.

@leesal - Appreciate your update.

Have reported this to LC - no reply yet!

Darchie
01-03-2019, 12:43 PM
I didn't receive any text notification for these two loans either

Gill
01-03-2019, 01:33 PM
I received notifications for both loans last one at 2.20pm

I am using Gmail, have you checked spam folder?

leesal
01-03-2019, 03:19 PM
I received notifications for both loans last one at 2.20pm

I am using Gmail, have you checked spam folder?

Must have been fixed now. I've received 3 notification this afternoon. In addition to that there were (at least) 3 loans on the market this morning. One of them was a $60k B1 business loan and on the market for a good 3 hours.

RMJH
01-03-2019, 05:44 PM
Maybe the auto trading is triggered by the email notification.....

humvee
07-03-2019, 09:25 AM
Does any one have a record what kind of security was on LN000-063-992


"Loan note LN000-063-992 has been written off. No distributable amount could be collected in the collection process. The principal balance on LN000-063-992 was $47.42 meaning a $47.42 principal write off has been made to your account."

Soolaimon
08-03-2019, 09:45 AM
Does any one have a record what kind of security was on LN000-063-992


"Loan note LN000-063-992 has been written off. No distributable amount could be collected in the collection process. The principal balance on LN000-063-992 was $47.42 meaning a $47.42 principal write off has been made to your account."




Can't help you with 063-992 but 063-995 has also been written off with a much larger loss (for me $150 invested $7.74 paid) no recovery costs.
I am now more than happy that I have been in full withdrawal mode now for the last 2 months.

jallison
15-03-2019, 11:24 AM
Seems referrals outnumber ordinary lending crowd loans Lending crowd can't be doing a very good job chasing loans; however any loans are better than none

Gill
16-03-2019, 05:23 PM
Do we know if LC lends money themselves as well before the loans hit the market? They did raise some money not long ago

Saamee
16-03-2019, 08:21 PM
Do we know if LC lends money themselves as well before the loans hit the market? They did raise some money not long ago

No. Not before the loans hit the market.

Yes, after the loans are on the board and only of the loans remain unfilled before the expiry date \ time.

Then they pick up the remaining funding required.

Are you referring to the Email looking for funding for Finance Direct??? ( this went out to all LC customers )

Gill
20-03-2019, 02:38 PM
Yes Finance Direct.

Their loan activity picked up a bit with referral loans but seems to have gone quite again.

Saamee
16-04-2019, 01:26 PM
2 x Massive loans hanging around on the LC Loan board.....

10480

Bjauck
16-04-2019, 01:39 PM
2 x Massive loans hanging around on the LC Loan board.....

10480

If I understand it it correctly the Lending Crowd investor/lenders take on all the default risk.

Does a whopping 25% flex charge on an A1 note, with the lender taking all the default risk, make investing in such a loan unappealing.

With these 25% flex loans, as the Lending Crowd investors take all the risk, What is the incentive for the “partners” to ensure that they organise loans to credit-worthy borrowers?

If the incentive for the “partners” is their share of the flex...would they be more interested in writing new business as oppposed to ensuring that capital is eventually returned?

leesal
18-04-2019, 11:23 AM
If I understand it it correctly the Lending Crowd investor/lenders take on all the default risk.

Does a whopping 25% flex charge on an A1 note, with the lender taking all the default risk, make investing in such a loan unappealing.

With these 25% flex loans, as the Lending Crowd investors take all the risk, What is the incentive for the ďpartnersĒ to ensure that they organise loans to credit-worthy borrowers?

If the incentive for the ďpartnersĒ is their share of the flex...would they be more interested in writing new business as oppposed to ensuring that capital is eventually returned?

Its LC and our job whether to write the risk. The partners to find the business.

The 25% A1 note was fully written, so appears not unappealing.

Saamee
18-04-2019, 04:20 PM
Logging in there are two loans up at the moment - seem like relatively good ones and aren't going that quick.

Gill
19-04-2019, 11:59 AM
You don't see this often, 25% flex making it unappealing...

10484

Saamee
19-04-2019, 12:56 PM
You don't see this often, 25% flex making it unappealing...

10484

Still far better than ANY Term Deposit Rate anywhere else offered in NZ!!

Bjauck
22-05-2019, 09:14 AM
Still far better than ANY Term Deposit Rate anywhere else offered in NZ!! How is the capital repayment default and charge off rate tracking with Lending Crowd?

Saamee
23-05-2019, 03:34 PM
How is the capital repayment default and charge off rate tracking with Lending Crowd?

TBH I do not have a clue!

Saamee
08-06-2019, 01:02 PM
Has anyone else noticed a mid month change in the LC RAR's?

This morning mine are different ( higher! ) than at on the 01st of the month...

leesal
09-06-2019, 04:59 PM
Has anyone else noticed a mid month change in the LC RAR's?

This morning mine are different ( higher! ) than at on the 01st of the month...

I don't track this from day to day, so didn't notice any change.

But my arrears this week were much higher.

andrewfreestuff
13-06-2019, 09:50 AM
Has anyone else noticed a mid month change in the LC RAR's?

This morning mine are different ( higher! ) than at on the 01st of the month...

Saamee, how do you see your RARs on the LC website? And also arrears. I must be blind or something... Actually I only joined last month so perhaps it doesn't show anything until after the first payments start.

Saamee
08-07-2019, 09:14 PM
Saamee, how do you see your RARs on the LC website? And also arrears. I must be blind or something... Actually I only joined last month so perhaps it doesn't show anything until after the first payments start.

Your RAR is only calculated on at least 90 days of active loans....

So you will have to wait a little longer,

Soolaimon
16-07-2019, 03:26 PM
Pretty quiet on this thread lately but not so on the lending platform, I think I got about 8 loans today. I notice that there are more loans up in the 30-50k mark these days. Not so much action over on Harmoney and I am still transferring funds from them to LC.

leesal
16-08-2019, 08:06 AM
Anyone else having difficulty logging into Lending Crowd? Can't see any notification on their facebook page.


This site can’t be reachedlendingcrowd.co.nz’s server IP address could not be found.

Saamee
16-08-2019, 11:00 AM
Anyone else having difficulty logging into Lending Crowd? Can't see any notification on their facebook page.


This site canít be reached

lendingcrowd.co.nzís server IP address could not be found.


No problem here ( now ) - Maybe it got cleared?

leesal
16-08-2019, 12:59 PM
No problem here ( now ) - Maybe it got cleared?

Yes, all fine. LC informed about the fault on their facebook page moments after :)

Saamee
31-08-2019, 04:53 PM
Lending Crowds NEW Interest Rates active from Sunday 01 st September

https://www.interest.co.nz/personal-finance/101454/lending-crowd-becomes-first-and-so-far-only-personal-loan-lender-reduce

kiwi783
09-10-2019, 06:30 PM
Too good to be true?

I've just had another in collection loan closed, principal fully recovered. This is my 4th collection fully recovered with none yet not being so, off a relatively small sum invested over the last three or so years.

Other than not being able to get the loans as they are listed, and the lack of info if you don't screen grab, LendingCrowd has been fantastic. But is it too good to be true? Has anyone had a loss of principal?

Kelvin
09-10-2019, 06:48 PM
Iíve had 7 write offs total, and just 3 got fully recovered

joker
09-10-2019, 06:51 PM
Yes write offs do occur...10799

kiwi783
04-11-2019, 01:41 PM
I've just received an email from Mara Labuschagne at lending crowd with a PDF attached titled Information Update Request. Email looks suspicious and I'm nervous of opening. Anybody else receiving similar? I'll be contacting the LC support to confirm before opening.

Saamee
05-11-2019, 05:32 AM
I've just received an email from Mara Labuschagne at lending crowd with a PDF attached titled Information Update Request. Email looks suspicious and I'm nervous of opening. Anybody else receiving similar? I'll be contacting the LC support to confirm before opening.


Yes. She is Pukka and the Letter is just for AML ( Anti Money Laundering ) purposes.

We had the same here.

I think a Driving License had expired here, which probably triggered the new request.

kiwi783
05-11-2019, 06:34 PM
Thanks Saamee, Good to know. The email was very generic text in the body so easily felt like the sender (even if genuine) had been hacked/virus in some way. I'll get in contact and sort out the paperwork - ho hum.
Thanks again.


Yes. She is Pukka and the Letter is just for AML ( Anti Money Laundering ) purposes.

We had the same here.

I think a Driving License had expired here, which probably triggered the new request.

joker
11-12-2019, 01:09 PM
It's amazing the number of 25% interest flex loans v 10% coming on the Lending Crowd site now. The 10% loans have really dropped away. I am beginning to wonder if a Lending Crowd associated finance company is forwarding some of its loans to the Lending Crowd site. This would mean that the Lending Crowd group is getting the loan approval fee ($450ish??) and then 25% of the interest earned without carrying any risk whatsoever. Easy money - particularly if you're struggling to get depositors. If this thread is monitored by Lending Crowd I would be grateful for comment on this.

Saamee
13-12-2019, 11:26 AM
OK well it's time for my 48 Month Investment Update on Lending Crowd....


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


Write Off Losses = TWELVE


Loans Repaid Early = 63.3%


Platform RAR = 12.84%


# of Loans Taken Out = 1284


# of Axtive Loans = 471


Current Arrears = Zero


Out of the 3 x P2P Platforms I have actively invested in, for me this is the easiest, most straight forward and user friendly to use.


10900

Happy P2P trading :)

Toukshare
13-12-2019, 02:23 PM
OK well it's time for my 48 Month Investment Update on Lending Crowd....


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


Write Off Losses = TWELVE


Loans Repaid Early = 63.3%


Platform RAR = 12.84%


# of Loans Taken Out = 1284


# of Axtive Loans = 471


Current Arrears = Zero


Out of the 3 x P2P Platforms I have actively invested in, for me this is the easiest, most straight forward and user friendly to use.


10900

Happy P2P trading :)

Well done Saamee. I am a very fresh newbie on LC in comparison (started in September this year). To achieve that RAR, am I right in assuming you only invest in B1 and B2 loans? Do you find that sometimes you go through entire weeks with no loans to invest in?

I would love a few more B2s, but many of them are only for under $5,000 and last only a few seconds on the site before they are snapped up. Having said that, there was a longer lasting one yesterday for over $100,000 !

Soolaimon
13-12-2019, 04:18 PM
Hi Saamee, I too have been in for over 3 years at least but my returns are not so good 11.62%. However I am totaly satisfied with that and the reason is since Penny Pickers auto thing I have spent many hours trying to invest and have only been able to mostly get the larger amount loans. The smaller B2's are obviously the ones to boost returns but then I guess they contribute more to the defaults of which I have only had 4 with a loss of $200. So all in all happy and am still transferring all withdrawals from Harmony to LC.

Saamee
13-12-2019, 10:31 PM
Well done Saamee. I am a very fresh newbie on LC in comparison (started in September this year). To achieve that RAR, am I right in assuming you only invest in B1 and B2 loans? Do you find that sometimes you go through entire weeks with no loans to invest in?

I would love a few more B2s, but many of them are only for under $5,000 and last only a few seconds on the site before they are snapped up. Having said that, there was a longer lasting one yesterday for over $100,000 !

@toukshare

>> Yes I do only invest in B1's and B2's....

>> Since something like 70% of loans these days seem to be referred loans with a 25% Flex rate - RAR's are moving slowly lower as that kicks in to the RAR returns after 100 days

>> Every week I get into LC Loans - but it does vary - It is not so easy for people with a strict work routine, where as I am retired and available all day :)

Saamee
13-12-2019, 10:34 PM
Hi Saamee, I too have been in for over 3 years at least but my returns are not so good 11.62%. However I am totaly satisfied with that and the reason is since Penny Pickers auto thing I have spent many hours trying to invest and have only been able to mostly get the larger amount loans. The smaller B2's are obviously the ones to boost returns but then I guess they contribute more to the defaults of which I have only had 4 with a loss of $200. So all in all happy and am still transferring all withdrawals from Harmony to LC.

@soolaimon

>> Good to hear from you again and know you are back on baord ( like you I have very little funds left in HM these days )

>> I have not seen or gone looking for stats about Loan Class and defaults but it would be good to see it confirmed if more B2's default!

kiwi783
21-12-2019, 03:44 AM
I agree that LC has been best of p2p sites. I've only seen one better imo but its not NZ based, and ironically in a region that has surplus of loans to investor liquidity. My frustration with LC is lack of loans, and the bunfight to grab any that do. The rush to hit Buy without being able to take a few seconds to viewing details is not a sensible investment approach, and continuing suspicion that automated processes are still running by others to grab the loans as they get listed. A xmas wish for some sort of auto-invest even if business sense dictated preference to bigger investors.

Saamee
24-01-2020, 03:45 PM
Hi Saamee, I too have been in for over 3 years at least but my returns are not so good 11.62%. However I am totaly satisfied with that and the reason is since Penny Pickers auto thing I have spent many hours trying to invest and have only been able to mostly get the larger amount loans. The smaller B2's are obviously the ones to boost returns but then I guess they contribute more to the defaults of which I have only had 4 with a loss of $200. So all in all happy and am still transferring all withdrawals from Harmony to LC.


@soolaimon ~ Just wanted to ask you how your LC Investments have travelled over the last 10 Days or so??

I have found LC has got SO busy..... I'm retired and at home but still have Failed to get into a single loan in the last 10 Days...

I am now so freustrated that I am Drawing Funds out of LC and into Harmoney!!

I do not like Harmoney and their customer dis-service at all...... but Returns are better and funnily enough, losses smaller :)

Soolaimon
25-01-2020, 10:09 AM
@soolaimon ~ Just wanted to ask you how your LC Investments have travelled over the last 10 Days or so??

I have found LC has got SO busy..... I'm retired and at home but still have Failed to get into a single loan in the last 10 Days...

I am now so freustrated that I am Drawing Funds out of LC and into Harmoney!!

I do not like Harmoney and their customer dis-service at all...... but Returns are better and funnily enough, losses smaller :)

Hi Saamee LC is busy for sure and I am also retired and unless I am sitting at home with the computer on refresh it is very difficult to get loans. However, last 10 days I have managed to get 7 loans but have had 4 repaid and one reversed. Not good really, but I am still withdrawing Harmoney and after 5 years of plugging away at this P2P stuff the incentive is wearing off some so no extra funds going in now for the last year or so and not sure that I will add anything in the future either. I detect a slight rise in term deposits at the banks lately if you negotiate and find that interesting.

darrenc
12-02-2020, 10:20 AM
It's interesting this thread has all-but died. Probably because it's almost impossible to get into a loan unless you're sitting in front of the computer with the page refreshing every 30 seconds (boring), or you've built a scraper and auto-invest bot (pretty easy to do and definitely worth it if you have several hundred grand to invest).

Darchie
12-02-2020, 04:29 PM
I have read this thread in yonks... and do find getting anything into loans a waste of time.... way better results with my Crypto ... P2P just isn't working

leesal
13-02-2020, 10:53 AM
I think LC is doing a very good job, and like the way Wayne Croad has represented the fledgling P2P market in NZ. I sincerely hope that they are able to increase their share of loans.

Regularly look at LC financials, they're a typical kiwi SME business, without the resources that corporates have at their disposal. So although we all personally may struggle to get loans, I personally wish LC all the success in their business model going forward irrespective of my own experiences/performance on their platform.

Toukshare
18-02-2020, 01:10 PM
And LC is likely to become even busier if money from Harmoney comes here , as some of it will, after the 1st April when HM is no longer a P2P lender.

Bjauck
21-02-2020, 10:45 AM
And LC is likely to become even busier if money from Harmoney comes here , as some of it will, after the 1st April when HM is no longer a P2P lender. Harmoney will be using money from its corporate wholesale investors to lend to the same type of borrowers. So the retail investors in the remaining true p2p companies will be chasing after fewer borrowers?

If Harmoney is to be believed, As far as retail investors are concerned it seems P2P is being finished off by the Commerce Commission.

Saamee
02-03-2020, 10:17 AM
New Rates effective today, out from LC.....



11072

Toukshare
03-03-2020, 08:15 AM
Rates not as good as HM, but at least they remain a true P2P lending platform...

Soolaimon
27-03-2020, 12:01 PM
Checked in today to see how things are going and b... hell, 3 loans available. I know it's strange times and these loans are only filling slowly. I did'nt help much. Can't bring myself to put much in p2p just now but still tempting and whos to say that todays loans are any riskier than last years now? Everyone cautious or still investing??

Saamee
28-03-2020, 11:26 AM
Checked in today to see how things are going and b... hell, 3 loans available. I know it's strange times and these loans are only filling slowly. I did'nt help much. Can't bring myself to put much in p2p just now but still tempting and whos to say that todays loans are any riskier than last years now? Everyone cautious or still investing??

Yes I see the 3 of them are still sitting there at Midday on Saturday....

Oh what a change in sentiment....

That is a 100% swing from too many Investors to too many Borrowers now!

Personally I stopped Investing in P2P over 3 weeks ago now.

Gone to Cash ( which is King at times like these )

Soolaimon
28-03-2020, 12:04 PM
Good idea, I think I will follow you.

leesal
29-03-2020, 02:23 PM
I'm just scaling back my investments and being more selective.

Defaults will rise. However these are much higher quality loans compared to HM. Finance Direct are also investing in these loans, they have navigated through the GFC, the security will mitigate part of the loses arising from higher default.

A year ago, I did a presentation on US P2P, and how they performed vs Shares and Real Estate during the GFC. It showed that overall during those 2 years performance was roughly break even, the higher grades made money and the poorer grades lost. Good to have liquidity, but everything not lost in P2P.

Bjauck
30-03-2020, 08:17 AM
...
A year ago, I did a presentation on US P2P, and how they performed vs Shares and Real Estate during the GFC. It showed that overall during those 2 years performance was roughly break even, the higher grades made money and the poorer grades lost. Good to have liquidity, but everything not lost in P2P.

For retail investors in NZ P2P though, capital write-offs of loans are not deductible for tax. It is in times like these, that becomes very relevant.
As always DYOR.

Toukshare
30-03-2020, 09:16 AM
For retail investors in NZ P2P though, capital write-offs of loans are not deductible for tax. It is in times like these, that becomes very relevant.
As always DYOR.

As you say, DYOR, as my accountants advice is that it is tax deductible if you are investing through a LTD company (rather than as an individual). In my personal circumstances, which may suit others, it is better to invest through a ltd.

Bjauck
30-03-2020, 10:11 AM
As you say, DYOR, as my accountants advice is that it is tax deductible if you are investing through a LTD company (rather than as an individual). In my personal circumstances, which may suit others, it is better to invest through a ltd. Definitely subject to DYOR. I thought "retail investors" was another way of saying individual non-professional investors. I was not referring companies doing the investing.

Unlike in some other jurisdictions, In relation to "retail investors", The NZ P2P sector never bothered to get an IRD ruling on tax consequences.

leesal
30-03-2020, 12:36 PM
Definitely subject to DYOR. I thought "retail investors" was another way of saying individual non-professional investors. I was not referring companies doing the investing.

Unlike in some other jurisdictions, In relation to "retail investors", The NZ P2P sector never bothered to get an IRD ruling on tax consequences.

Very good point. If defaults are 8%, thats 2.5%+ at the top bracket that isn't tax deductible. I'm able to take the tax deduction, those who can't it makes a big difference.

Tony Two Gloves
15-07-2020, 04:00 PM
I wonder what would happen with this if Finance Direct folds, just had a look at their accounts for the year and they arenít making any money. Who checks them on the quality of loans they put up and if desperate would they push harder when itís the investors that lose? I have no money with them now but think I will avoid

leesal
16-07-2020, 06:31 AM
I wonder what would happen with this if Finance Direct folds, just had a look at their accounts for the year and they aren’t making any money. Who checks them on the quality of loans they put up and if desperate would they push harder when it’s the investors that lose? I have no money with them now but think I will avoid

I looked at this a year ago, and interesting to see there FY20 results are breakeven.

Theres a few things to look at in the financials. Financial Direct holds approx 1 million in cash, its able to sustain a certain amount of loss. Operating cash flows are positive, and they made a profit in FY19. So there could be some accounting adjustments in there, maybe the adoption of IFRS16 or an increased bad debt provision.

The loans (P2P product) are ring fenced, via the FMA. And there is the requirement that Lending Crowd arrange an alternative provider in the event of receivership. It does bring the question, if that were to occur, who would pick up the book in this market. But at least the regulations are in place, to afford levels of protection.

Finally you could consider past performance, Finance Direct made it through the GFC, if I understand correctly their lending is typically secured.

Tony Two Gloves
27-07-2020, 02:51 PM
Yes it is all secured loans, but second mortgages and Caveats which I suppose is better than nothing. They also have quite a few vehicle secured loans which tend to perform well. Just worries me if they have been around 20 years or so and they still cannot make money. They are the worst performer of all the NBDT's albeit there is only five or six of them now but just leads me to wonder why they are doing so badly in a market that to 31/3 was really good for most participants. I don't think I would sleep well if I was involved with this so will look for other options. Cheers

Toasty
12-10-2020, 01:22 PM
I am thinking of pulling my investment in Lending Crowd. It is just too hard to secure a loan. I don't have time to refresh repeatedly in case one appears. I receive the email notification too late in most cases. Is anyone else in the same boat or am I just doing it wrong? I am averaging around 12.5% return according to my dashboard but it doesn't seem worth it for the hassle for less than $10k invested.

Edit: Or do I scale up?

RGR367
12-10-2020, 09:21 PM
I am thinking of pulling my investment in Lending Crowd. It is just too hard to secure a loan. I don't have time to refresh repeatedly in case one appears. I receive the email notification too late in most cases. Is anyone else in the same boat or am I just doing it wrong? I am averaging around 12.5% return according to my dashboard but it doesn't seem worth it for the hassle for less than $10k invested.

Edit: Or do I scale up?

Thinking the same as cannot grow the investment due to scarcity of loans.

Saamee
13-10-2020, 07:13 AM
I am thinking of pulling my investment in Lending Crowd. It is just too hard to secure a loan. I don't have time to refresh repeatedly in case one appears. I receive the email notification too late in most cases. Is anyone else in the same boat or am I just doing it wrong? I am averaging around 12.5% return according to my dashboard but it doesn't seem worth it for the hassle for less than $10k invested.

Edit: Or do I scale up?

I'm thinking that you got your own Answer from within your Question!

joker
13-10-2020, 08:37 AM
I am thinking of pulling my investment in Lending Crowd. It is just too hard to secure a loan. I don't have time to refresh repeatedly in case one appears. I receive the email notification too late in most cases. Is anyone else in the same boat or am I just doing it wrong? I am averaging around 12.5% return according to my dashboard but it doesn't seem worth it for the hassle for less than $10k invested.

Edit: Or do I scale up?

I had $120k invested and had the same problem. Stopped investing in March as the time needed to monitor the new loans far exceeded the return. I needed to sit at the computer all day to catch them as they landed and even then missed a lot. There can be no doubt that people are using programs/crawlers to automatically invest in the loans as they land but Lending Crowd either can't or won't stop this behaviour and are uninterested in developing their own autolend app. I would love some of the investors here who are still investing successfully to divulge their apps or methods but I doubt that they will be forthcoming.

Saamee
13-10-2020, 08:49 AM
I had $120k invested and had the same problem. Stopped investing in March as the time needed to monitor the new loans far exceeded the return. I needed to sit at the computer all day to catch them as they landed and even then missed a lot. There can be no doubt that people are using programs/crawlers to automatically invest in the loans as they land but Lending Crowd either can't or won't stop this behaviour and are uninterested in developing their own autolend app. I would love some of the investors here who are still investing successfully to divulge their apps or methods but I doubt that they will be forthcoming.

I manage to stay 100% invested.

It's just a case of being near a Computer or Phone and being alerted to an incoming Email.

I use Gmail Email Filters to NOT be alerted about the LC Loan Emails that I do not want.....

Good if you are retired...... If you are working away from Technology - Not a chance unless there is that very rare 50K_ loan that stays around for hours....

Toukshare
13-10-2020, 09:20 AM
I had $120k invested and had the same problem. Stopped investing in March as the time needed to monitor the new loans far exceeded the return. I needed to sit at the computer all day to catch them as they landed and even then missed a lot. There can be no doubt that people are using programs/crawlers to automatically invest in the loans as they land but Lending Crowd either can't or won't stop this behaviour and are uninterested in developing their own autolend app. I would love some of the investors here who are still investing successfully to divulge their apps or methods but I doubt that they will be forthcoming.

I agree that by the time you get the email, the loan has gone. I work on my computer all day long, and have multiple screens so I have the Lending Crowd new loan page on auto-refresh every 30 seconds and so am quickly able to see new loans. But even then, the small B2s (say, under $5,000) get fully subscribed very quickly and basically I have to skim-read the loan details and invest (or not) within 30 seconds, otherwise it is too late. Obviously the bigger loans (> $20k) take longer to fill so you have more time but I find that even with those ones, the email sometimes arrives too late.

To summarise: I don't rely on the email alert.

RMJH
13-10-2020, 02:45 PM
Thinking the same as cannot grow the investment due to scarcity of loans.
Same here. Hard to believe that computer trading is not still taking most of the volume.

Toukshare
23-11-2020, 03:10 PM
Big changes from today with unsecured loans available.
The loan classification changes (and their associated rates), form just having A1, A2, B, B2 to A1-2-3, B1-2-3, and all of them secured or unsecured. New rates also for unsecured loans available on a 24 months basis.
Not sure whether that means we'll suddenly see lots more loans, and what the unsecured ones will look like. Will it be more like Harmoney used to be?

Saamee
24-11-2020, 10:49 AM
Not to keen personally to Invest in Unsecured Loans.......