Ha ha Yes! An Aggressive Investment..... followed by Passive Returns!!
Reminds me of Sharks circling their Prey :)
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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...
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.
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 :)
I saw a small Lending crowd ad on Stuff (I think) the other night
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.
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 :)