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Had a good few weeks there where if I logged in as soon as a loan came up, I would get a piece. The last week seems to have gone back to the bad old days, where the loan is already gone, even if I log in the second the email arrives. Are people using bots again?
I managed to get in 1 x B2 today by logging in straight away, but the other one was already 92% full by the time I got there, despite responding almost immediately, and my $50 effort was thwarted due to not enough funds remaining on the loan.
I can't see that Lending Crowd really cares that much whether bots are involved or not; it just needs to fill the loans. Both those B2 loans were less than $4k and they do go really quickly.
Yeah I missed out today too - I think it was because all the loans were so small. I assume that the emails go out in series so some investors will receive it before others. Also it may depend on how fast your email server transmits the email to you. Additionally as some punters put $500 - $1000 or more into a loan it only takes three to eight bids before it is filled.
My lending crowd NAR for my current/larger account has been above my harmoney RAR since June now (only just) and I have just reached 120 active loans combined so I thought I would do some number crunching
NAR 14.80% - Larger current account - Average active loan age = 190 days
NAR 15.17% - winding down account - Average active loan age = 381 days
Combined figures
All loans
Average interest rate All loans 15.72%
Weighted average interest rate 15.70%
Average Loan Age 293 days
Open Loans
Average interest rate 15.82%
Weighted average interest rate 15.63%
Average Loan Age 303 days
Closed loans
Average interest rate 15.60%
Weighted average interest rate 15.85%
Average Loan Age 282 days
60 Months
Average interest rate 15.81%
Weighted average interest rate 15.77%
Average Loan Age 287 days
36 Months
Average interest rate 15.58%
Weighted average interest rate 15.62%
Average Loan Age 301 days
Just received this, this is the 1st one I have lost principal on
Loan note LN000-014-222 has been written off. The disbursement amounts from collection were:
The principal balance on LN000-014-222 was $22.46 meaning there has been a $10.96 principal write off to your account.
Principal: $11.50 Collection costs: ($6.02)
The write off of a loan is never a good thing but is an occasional and unavoidable part of lending money. We hope that your Lending Crowd investment portfolio has not been unduly affected by this write off.
Regards,
The Lending Crowd Team