There is now 93k for 5 years awaiting funding if anyone is interested.
Printable View
There is now 93k for 5 years awaiting funding if anyone is interested.
360K currently waiting for investing in 5 Year loans....
5 Year lending appears to have slowed right down since the end of the last quarter at SM
Has anybody been getting serious funding into 5 Year loans recently apart from rats and mice single figures?
My Interest and Capital payments from SM are now going into Finance Direct ( Lending Crowd's parent )
Interesting that Squirrel issues loan to borrowers at fixed listed rates (average 12.56% according to the site currently), takes its 2% cut, deducts its 2% shield buffer, but then also keeps the Investor rate difference (loan bought first by squirrel at 9%, then onsold to investor at 8.5%, due to lack of sufficient loans causing investors to undercut each other). Isn't this a hidden unadvertised fees on loan, or have I misunderstood this model?
Free market in the ability investors have to undercut each other and jump the Q. But if you are Squirrel, and you buy a $100,000 loan at 9% for 5 years and sell it a microsecond later to 10 investors at 8.5%, you are reaping 0.5% on the life of the loan with no money down. In my understanding it is called Fee, not Free Market... but maybe that's not what Squirrel is doing... Or is it? :eek2:
Wow, you're saying Squirrel is bidding for loans on its own platform? That would be highly unethical...
And yes I am having trouble putting money to work now.
@beacon SM has got to make money somehow. SM is a business with employees, rent, etc to pay as well as a platform to maintain and marketing expenses and the list goes on. I'm personally very happy with the returns, much better than the 3% I would get from bank term deposits.
Squirrel Money has just passed the $2mil mark of Potential Borrowers for the first time ever.
Attachment 9252
Well that didn't last very long. 5 hours later and I can't see where $700k has gone! Certainly wasn't picked up by SM lenders.
Attachment 9253