Another new Loan listed in the last hour.... 10K
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Yeah mine gone as well ... but another loan just listed
Its Back, and @13.27% its fast closing in on harmoneys return. (and thats harmoneys RAR under the old fees)
With harmoneys huge fee increase on the way and potentially less tax efficiant model... Harmoneys write-offs are hugely higher - IF(the big unknown) capital loss is not tax deductable then after tax returns between the to are going to be more in favour of lendingcrowd then the before tax returns indicate
So far i've seen 1 loan reach 10 days over due and another reach 4 days over due - but as at now everything is back at 0 days
Mine 11.85% but then I've been taking a stake pretty much in most loans being listed!
NAR 10.17% (first one), and I've only been investing in As, mostly A2. No defaults, no lates, yet. In the context of what I am getting with the bank on FD, I'm pretty damn happy with this!
Yep NAR updated recently - Mine now much higher than over at harmoney... Lending Crowd now just over 13%
Anyone else make a Withdrawal from Lending Crowd today ( Friday ).... But as of yet it has not been Processed to the Bank? ( once again! )
Have invested across new 3 loans at Lending Crowd today...
Maybe they are seeing the results of their Radio advertising campaign?
Get in quick! A small loan listed this evening almost filled.
Just made my initial $500 deposit this week (see you later Harmoney), good to see the number of loans picking up.
Another loan recently listed
I have been in since January this year with the minimum $500 and the loans are ticking away nicely in the background. Now that I will suspend my investments in Harmoney from monday due to their new fee structure. I will concentrate on Lending Crowd a bit more over the next few months. One thing I like about LC is the easy interface and no IT Hiccups noticed so far.
And their up to the minute transaction statement gets a HUGE tick of approval from me.
I haven't used LC yet. Good if their systems actually work properly, seems that would be fairly unique amongst P2P providers. Would it be too much of a push to say their system is actually good/intuitive/logical too? That seems to be a feature that most have yet to get around to. I'm including UK systems in that.
Hi kiwi_on_OE
Yes the LendingCrowd Platform has worked 100% accuratley ( for me at least! ) since I joined up with them during December last year.
Anything I do not understand that is shown, normally a quick call to Aedi and all is made clear.
I really really DO appreciate their 'real time' reporting and reconciliation statement as you know exactly 'where you are' all the time up to the minute ( or the latest transaction )
It's very very hard to fault Lending Crowd at anything they have been doing over the last 6 months ( lack of loans is not directly their blame - as they really appear to building a Quality loan book ) - the only thing I could lay fault on is the 5 or so times I have requested a Withdrawal to my bank account - and it has not been actioned \ or overlooked. This does not build confidence or trust as a customer as it now starts to look 'A Littel Sloppy'. That issue has always been rectified the same day or next day.
New one
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 21 hours B2 19.10% Personal 60 months $15,250.00
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 21 hours B2 19.10% Personal 60 months $15,250.00
Would be so much easier if Lending Crowd could text or email when a new loan became available.
Once they are getting as many loans as harmoney you would not want this - the issue is there are not enough loans on lending crowd at the moment
Although the number of loans on harmoney seems to have gone down lately and the number of early repayments has gone up - not sure where the money to fund all the early repayments is coming from
Perhaps an android app -- useful for checking anyway -- but with notifications that you could turn on or off? Or, on the LC website, the ability to turn notification emails on or off -- or, even trickier, turn on emails automatically when you have more than $xxx available for loaning in your account...
Anyone seen any loan activity on this platform in the last few days? Have logged in a score of times over the week at various times of day and apart from one near to full pretty average loan early in the week have seen nothing listed.
Agree about lack of loans being listed up ..... I loathe having to have credit sitting there doing absolutely nothing, was tempted to reduce that this week, but then Murphys law, I'm sure if I'd reduced it, then loans would have appeared!
Would help if it was same day clearance on deposits, then I'd just flick some in when the loans appeared.
A new Loan has been listed today ( Sun ) around 4pm = 12K
Now two:
Funded Time remaining Grade Rate* Type Term Amount My investment 0%7 days and 14 hours A2 10.96% Personal 36 months $10,250.00 $0.00 View Buy 66%7 days and 14 hours B1 13.97% Personal 36 months $15,250.00 $0.00
And one more,
unded Time remaining Grade Rate* Type Term Amount My investment 22 hours and 54 minutes B2 18.74% Personal 36 months $6,250.00
I have 10 loans repaid already. Coupled with the cancelled ones. The % of total loans, is getting up there!
Anyway. I ask. Did anyone else have loan 011-693 that was repaid recently
Taken 24/3. - 18/6. I'd put $100 principal into this loan ... but repaid $99.99. I realise it's only 1cent ... but i want to know how many others were short changed on this loan? Or got 100% principal repaid?
Another new loan just listed:
Funded Time remaining Grade Rate* Type Term Amount My investment 58% 6 days and 19 hours B1 13.97% Personal 36 months $20,850.00 $000.00 View Buy
*Rate is the gross interest rate.
Another loan Tuesday ...
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 23 hours A2 10.96% Personal 36 months $10,250.00 $0.00
Wow, 81% filled already.
My deposits (not from ASB) have been pretty fast, clearing within half a business day, but even that might not be fast enough anymore. I logged in and used the "Deposit funds" feature, that probably makes a difference in clearance times
Interestingly, no increase in listed loans following change in fee structure. Points for speculation - more stringent loan structure, first mover advantage or marketing reach? My guess is the latter as market capture with disruptive Internet business is key (as any Xero/Wynyard etc investor can attest).
New loan Wednesday arvo....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 21 hours B2 18.74% Personal 36 months $6,750.00
[QUOTE=mp52;625414]Interestingly, no increase in listed loans following change in fee structure.
Have i missed something here! ..... appreciate if you could elaborate mp52
Hey Saamee have you got the loan that's 12 days overdue? ... oh and I have another 6 days overdue!
OMG. That's 2 ... hope their very clean record isn't being tarnished!
I querried LC about that 1cent under on principal repayment ... and was told it's to do with rounding .. (obviously an unders and overs game!) .. but they didn't answer my question asking if every contributor was short changed by one cent ... now if so that would add up!!!! I have had 10 repaid loans but no overs on principal!!!
Hi Darchie,
Yes I am in that 12 days overdue loan too.
I called Aedi yesterday about it and we had a long chat.
Seems a part payment has been made to LC, with more promised to make good.
It will show overdue untill it is 100% current, even though payments are being made.
I asked how I can now see the orignal loan details of the borrower....
Short = You cannot view once loan is Originated.
Suggestion was to take a Screen Shot of Borrower Details for every new loan - which I have started doing.
Rgds
2nd Loan now listed on Wednesday.....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 13 hours A2 11.87% Personal 60 months $18,000.00 $0.00
[QUOTE=Darchie;625508]Sorry - should have qualified that thought a bit :) There was a bunch of talk on the Harmoney thread about people jumping ship to other P2P provides following the fee changes to Harmoney. Was just observing that there doesn't appear to have been increased activity on Lending Crowd and Harmoney appears to be still listing and filling loans at about the rate before the changes. So I guess the jury's out on whether that sentiment is only that of the "smart money" or misplaced?
[QUOTE=mp52;625570]Bare in mind that that fee increase only effected RETAIL investors, retail investors were only funding 25% of the total loans with wholesale funding 75%. If the was a 50% reduction in investments by those effected by the fee increase this would only be a 12.5% reduction accross the entire platform, and with the stats avaiable to you, you might not be able to see this.
I do beleive that lending crowd loans are filling up quite alot faster since the harmoney fee increase. Also on Squirralmoney it seems to now be funding waiting for borrowers rather then borrowers waiting for funding.
Both of the Overdue Payment Loans are now Fully paid up to date and current :)
Out of interest I just checked the Total of Lending Crowd loans I have invested in = 86
The total # of Loans Fully Repaid and Closed = 8
So running approx. 10% Loans drawn down that have been fully repaid off.
I'm not sure if LC have comleted any Re-Writes yet. Anyone else aware of that?
2 Loans available right now....
FundedTime remainingGradeRate*TypeTermAmountMy investment73%
6 days and 15 hoursB113.97%Personal36 months$13,250.00$0.00ViewBuy82%
6 days and 15 hoursA211.87%Personal60 months$8,250.00$0.00ViewBuy
1 New Loan with 50% left
7 days A2 11.87% Personal 60 months $28,300.00
Yeah Saamee. ... BUT see it's disappeared now and how can it get A2 when the primary borrower has had 1 default within past 2years ... for me doesn't add up to an A2!!!!!
The other thing that I'd noted with that Loan was the very old list number as in: L00-11-068
Another Loan listed today:
Funded Time remaining Grade Rate* Type Term Amount My investment 1 day and 1 hour A1 7.90% Personal 36 months $23,850.00 $0.00
Yet another loan listed up ...
Nice to see a number of loans come through lately.
Yes! More.....
62%
6 days and 21 hoursB114.74%Business36 months$14,250.00$00.00ViewBuy
6 days and 21 hoursB113.97%Personal36 months$8,250.00$00.00ViewBuy
New loan posted late Fri evening.....
Funded Time remaining Grade Rate* Type Term Amount My investment 2 days and 11 hours B1 13.97% Personal 36 months $10,250.00 $00.00
New loan up;
Funded Time remaining Grade Rate* Type Term Amount My investment 48%
6 days and 19 hours B1 13.97% Personal 36 months $18,350.00 $0.00
Another loan just listed
TWO Loans avilble right now!
Funded Time remaining Grade Rate* Type Term Amount My investment 7 days A1 7.90% Personal 36 months $5,250.00 View Buy 7 days A1 7.90% Personal 36 months $5,250.00
Make that 3 now :)
Funded Time remaining Grade Rate* Type Term Amount My investment 70% 6 days and 22 hours A1 7.90% Personal 36 months $5,250.00 View Buy 46% 6 days and 22 hours A2 11.87% Personal 60 months $26,350.00 View Buy 64% 6 days and 22 hours A1 7.90% Personal 36 months $5,250.00
Odd -- One of my loans, first payment, is principal only, no interest?
Anyone else got that too?
7 July 2016 LN000-013-125 - Payment interest $0.00
Wow It's got busy over here @ LC today!
6 days and 16 hours B1 14.74% Business 36 months $60,950.00
New loan on Friday....
84% 6 days and 19 hours B2 18.74% Personal 36 months $2,250.00
Another new loan Friday just listed!! No I am not a paid sales person for LendingCrowd!!
6 days and 19 hours B1 13.97% Personal 36 months $15,250.00
How long does it take to receive repayments from your loans. I have a couple of loans taken out on 7 June but haven't received any repayments yet, both showing 0 days overdue
You'll get those early 14th
Thanks Darchie. 1 week to process and receive repayments seems a bit slow!
That's true but at least ya know EXACTLY what & from where every cents come in from. That's a warming aspect.
Thanks Saamee. Plan is to reinvest the principal and interest, along with depositing more funds.
New loan listed Mon Arvo...
Funded Time remaining Grade Rate* Type Term Amount My investment 18 hours and 8 minutes A2 12.84% Business 60 months $50,450.00
Smail New loan up TUE arvo:
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 19 hours A1 7.90% Personal 36 months $7,250.00
And another loan!
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 6 days and 18 hours B1 13.97% Personal 36 months $40,450.00 $0.00
The below loan is still avaialble....
54% 6 days and 22 hours B2 18.74% Personal 36 months $10,550.00
It's getting busy this week!
6 days and 19 hours B1 13.97% Personal 36 months $6,250.00
Heck - 22 million loan applications???? Finance Direct taking up a fair chunk of the loans made - on equal footing with you guys though so thats good.
To date Croad said Lending Crowd has received 22 million loan applications, and written $2.5 million worth of loans with 60% of this total comprising personal and motor vehicle loans, and 40% business loans. He said registered non-bank deposit taker Finance Direct has participated in $900,000 of the loans on the Lending Crowd platform on equal terms with retail investors. There are 220 registered retail investors, and 165 active investors. In terms of loan security, Croad said 30% of loans are secured by cars plus a property, 50% are secured by vehicles, and 20% are secured by property only.
http://www.interest.co.nz/business/8...l-help-it-grow
Surely a mistake, must be more like 22,000 or just 2,200. But glad they are serious about growing the platform.
Got my very first repayments today! A whopping $0.93 after tax and interest flex :t_up:
New loan this morning!
Funded Time remaining Grade Rate* Type Term Amount My investment 7 days B2 19.10% Personal 60 months $11,250.00
I would be interested to know who else has signed up with the BETA Text \ Email alert service for new loans at Lending Crowd.
Note: This service is NOT being offered by Lending Crowd. It was by 'private invitation only' from another member on this site.
Sample of Email Alert
Attachment 8165
New loan posted FRI Evening:
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 16 hours B1 14.79% Personal 60 months $20,350.00
Alert came in @ 19:14 Fri arvo.....
Attachment 8170
For anyone interested!
Now invested in 104 Loans @ Lending Crowd since mid DEC 2015.
Currently NO Arrears.
NO loans ever written off.
Over that time I have sighted 4 x loans that have gone a number of days into Arrears - However all caught up and bought up to date swiftly.
No ReFinance deals as far as I am aware.
Overall Extremely Happy with Lending Crowd.
My NAR = 13.3%
I go along with Saamee. Investing since Jan 16, 11K dribbled in since then, 12.2% NAR, 70 loans of which 7 have been re-paid, no arrears and no defaults.
All good by me.
Hi guys.
Have been investing in Harmoney for a year now with mixed results.
If i try lending crowd what loan grades are you all investing in? Harmoney had A thru E grades ( I stuck with A to C) but lending crowd seem to have only A & B. Any issues with either of these grades?
.
Do they email new loans out which are available? Doesnt appear to be any online currently?
Welcome here Whitt :)
Only A's & B's - I am covered across all loan grades. I have not checked, but I would have a fairly even mix I would think.
No issues with ANY loans to date = 8 Months now.
No, Lending Crowd do not Email out new loans.... BUT I am in a Beta Test with someone else on here.
PennyPicker will most likely read this post and Invite you to join too.... He bought on Cool Bear last week.
You will get and Email \ Text within seconds of any new loan being placed on the LC Website.... Works well :)
PennyPicker will be planning a Beta Test for Harmoney very soon :)
Another loan today:
Attachment 8173
Just had a further 2 x Loans repaid early overnight - That's life.... All part of P2P Lending and the customers perogative :)
Saamee has alluded to a service he and others have been helping me test over the past week. It pushes email or TXT notifications out when new LC loans are issued, hopefully allowing us more investment opportunities by missing out of fewer loans.
What is it?
It's not an app you have to download on your device, it's a web based, so you can setup and edit your filters on any internet facing device or PC. If you're still interested read on:
What does it do?
Provance sends you notifications when new loans are issued on the LendingCrowd platform. This avoids the need to continually log in and check the investments for new loans. It also means you should find out sooner, so you miss out less often on taking part in issued loans.
How does it work?
Go to http://www.provance.nz/ and create an account. It just uses an email address and mobile number. From there you are directed to the Filters page where a default LendingCrowd filter will have been created for you.
What happens when a loan is issued?
Depending on how you've configured your filters you'll receive either an email or txt. It'll contain a brief summary of the loan; amount, rate, grade, term, type and how funded it is.
Provance only sends loan notifications between 8:30am and 10:30pm. If a loan comes in outside of these hours it will be included in the 8:30am round of the following day. I may include an option to customise this if there's interest.
How do the filters work?
An example might be to have all options enabled, you'll then receive a notification for any loan issued. Or you can select between just particular grades, terms, or types. Or you may have multiple filters, A1 grade business loans and all grades for personal loans. It's up to you how they look. When you create an account a default LC filter is provided, with all grades, loan types and terms enabled.
What is a beta?
Provance is in beta at the moment. Beta means the quality bar is high enough that I'm comfortable making it available to a wider audience; but some features may be missing, or a little incomplete. Nothing that would block you from using the app for it's core purpose.
Attachment 8176 Attachment 8175 Attachment 8174 Attachment 8177
Any known limitations?
1. I've tried to make Provance mobile friendly, but if you do use it on a mobile device and find the experience is difficult or error prone I'd love to know. (It'll work equally well on a desktop or tablet.)
2. At the moment the default filter option is TXT notifications. Select Profile from the menu bar to change your notification options if you prefer to receive an email.
3. I haven't written up a privacy policy yet, but I don't gather any information beyond your mobile number and email address. As Provance is only informing you of new loans I know nothing about your LendingCrowd profile.
Any problems, please PM me.