LendingCROWD NZ P2P

[Pipi]

I am in front of my computer all day and can jump on immediately. I find it very difficult to get a B2 - they're gone in seconds and I perhaps invest in 1 in 4 of them. I can get into most B1, but by the time I've logged in (and I'm quick at logging in) they're often half full and they only hang around a minute, maximum. A2 hang around a little longer. So, my opinion is that there are still people using automated investment software. I have $25k in and only invest $150-200 per loan and I'm only just keeping up with getting my available cash reinvested.
I'm pulling all mine out of Harmoney, which is taking a while. It's difficult to know what to invest in now to get the really good returns.

darrenc - Why are you pulling your money out of Harmoney.

[darrenc]

darrenc - Why are you pulling your money out of Harmoney.

Harmoney went through a phase, starting a few months ago, where there were virtually no loans, then it started a phase of some loans but almost none of them matched my lending criteria. I haven't looked for a couple of months now - just taking the money out as it becomes available. I'm making 14.5% which is reasonably good (and the same as what I'm making at LC), but it did require me to be constantly on it to get into the loans and I don't really have time.

[Pipi]

Harmoney went through a phase, starting a few months ago, where there were virtually no loans, then it started a phase of some loans but almost none of them matched my lending criteria. I haven't looked for a couple of months now - just taking the money out as it becomes available. I'm making 14.5% which is reasonably good (and the same as what I'm making at LC), but it did require me to be constantly on it to get into the loans and I don't really have time.

I'm withdrawing mine from Harmoney also, as I feel if interest rates start going up and we do have a ecomonic downturn, then there will be a lot of defaults on these types of loans.

[Soolaimon]

I am doing the reverse of you guys, ie pulling out of LC and increasing Harmoney. I have about 30K in each and have been in both from the beginning and am pretty satisfied with returns (12% LC and 13% harmony) Returns are lower than other investors on ST but I could only get the A loans most of the time on LC and now only go for the B and C loans on Harmoney.
My reason for lending on P2P was to supplement the lower returns on term deposits and although it requires some time at the computer it has done the job for me for the last 4 years. I am aware of the risks if there is a downturn but by accepting slightly lower returns I hope to avoid a hiding to some degree.

[icyfire]

People are either still using automated investment software or investing hundreds or thousands in a loan

[CR_111]

I think option A. No matter how quickly I open the LC site, there is always a large chunk of the loan already gone.

[RMJH]

I'm withdrawing mine from Harmoney also, as I feel if interest rates start going up and we do have a ecomonic downturn, then there will be a lot of defaults on these types of loans.

If there was a downturn and default rates, say, doubled or even tripled I suspect that P2P might well fare better than shares or property in the same situation.

[PennyPicker]

I've been aggressively withdrawing from LC since whenever it was earlier this year. Until now that money has floated straight over to Harmoney where my return has always been a percent or two higher. At the current rate I might be cleared out in another 18 months.

[mccollr]

I think option A. No matter how quickly I open the LC site, there is always a large chunk of the loan already gone.

The thing that disappoints me most is that when they banned the use of auto invest software they said they would be hard on those that did not comply. They cannot be policing this as yesterday a loan was gone in 10 seconds. No way humans can work that quick. So those playing with a straight bat are penalised.

[icyfire]

LN000-057-737 is 78 days overdue. Does anyone have the details for this loan?