LendingCROWD NZ P2P

[joker]

The dearth of 10% interest-flex loans makes me wonder if most of the loans are now referred by Finance Direct (LC owners' finance company). It would be a clever move that didn't require Finance Direct to raise any funds but still allowed a reasonable income from the 15% referrers slice of the interest with absolutely no risk or cost.

[Saamee]

That is an impressive board of available loans

LOANS.jpg

[kiwical]

Yep. And there were at least 4 more I think an hour ago? Nice to see those 10% non referred loans as well

[Saamee]

There are over 13 loans available on LC right now.....

Wondering if this unusually high number of loan applicants could be hard hit Aucklanders following the flooding in need of extra funds?

[kiwical]

Over the last couple of months there have been plenty to choose from. Refer to the post above yours. 16 on a random day in January. I only choose secured loans now. But even then I have 3 or 4 in collection at present. I'm in online retail and this time of year stings for many people. I always get a downturn in sales generally and an uptick in those using afterpay. Credit card spending from Christmas come due and back to school costs are often quoted as being to blame.

[kiwical]

At the time of this post there are currently 22 loans available. I don't check all the time but I feel it's another record. 1.jpg

[Saamee]

Unfortunately that reflects the times.

Income limited. Living costs rising.

People borrow to survive day to day.

In USA credit cards are maxed out.

I would not invest in any of those loans up there today.

[Mike64]

I still find the management of their own sourced 10% Flex Loans very strange. In Feb/Mar this year appeared to my surprise quite an unusual lot of them and of a sudden rarely any this month. That does not look random to me and I still believe they are manipulating on their earnings providing on sourced loans as 25% Flex ones. But that's only my humble speculation course it appears suspiciously strange to me.

According to the plenty of statistics over my data, the 25% Flex Loans have in loan numbers an over 3 times higher arrears rate than the 10% Flex ones. About non of them are available recently leading me to reduce and withdraw steadily.

[PennyPicker]

I cannot comment on your speculation, really until today I hadn't thought much about the difference in Flex rates or the rate at which one or other came to market.

However here are my numbers for comparison.

Open Loans
Total: 854
Flex10: 232 (27.1%)
Flex25: 622 (72.8%)

In Arrears
Total: 58 (6.79%)
Flex10 in Arrears: 12 (20.6%)
Flex25 in Arrears: 46 (79.3%)

So, yes Flex25 are over represented in the current arrears data, but not a huge margin against the straight Flex10/25 loans ratio. Not enough for me to change my investing algo, yet.

A break down of when those loans were opened, 2020=2, 2021=27, 2022=23, 2023=6.

[kiwical]

Has anyone received their tax certificate for this year? Maybe they are running late, but just want to check that I haven't missed it. As always it's annoying that it is only emailed, and you can't access it on the website itself.