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  1. #1036
    yeah, nah
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    Quote Originally Posted by Saamee View Post
    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

  2. #1037
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    This time i got the email at 13:53. Only a 2 min delay!

  3. #1038
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    Jan 2005
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    New Zealand
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    Quote Originally Posted by myles View Post
    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.

  4. #1039
    Senior Member
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    Sep 2015
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    Norf Eyelynd
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    [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.

  5. #1040
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    Sep 2015
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    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."

  6. #1041
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    Quote Originally Posted by Kelvin View Post
    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

  7. #1042
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    Jan 2017
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    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.
    Last edited by icyfire; 17-01-2019 at 03:33 PM.

  8. #1043
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    Quote Originally Posted by icyfire View Post
    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..

  9. #1044
    yeah, nah
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    76% of that one loan I suspect?

  10. #1045
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    Quote Originally Posted by Saamee View Post
    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

  11. #1046
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    Quote Originally Posted by icyfire View Post
    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

  12. #1047
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    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.

  13. #1048
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    Nov 2015
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    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?

  14. #1049
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    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?

  15. #1050
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    Nov 2015
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    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!

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