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New loan up ( almost gone! )
79% 6 days and 23 hours B1 13.97% Personal 36 months $10,250.00
Yet another new loan up ( who's complaining! )
6 days and 21 hours A2 11.87% Personal 60 months $17,350.00
New loan just up...
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 2 days and 22 hours A1 7.90% Personal 36 months $4,650.00
New loan up MON morning....
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 7 days and 3 hours A2 11.87% Personal 60 months $10,250.00
Small loan up MON arvo....
Funded Time remaining Grade Rate* Type Term Amount My investment 70% 21 hours and 1 minute B1 13.97% Personal 36 months $2,350.00
Just looked again at LC Early Loan Repayments.... Now that I am diversified in 143 loans since DEC 2015
So with 19 loans early repaid > That's a 13.2% early repayment rate....
Not sure how this relates to say HM early repay rates?
Mine is 19 from 129. But do you consider early repayments a problem? There is no penalty in so far as extra fees. The only problem I see is that I have to spend more of my time reinvesting the funds. But it could also be handy if I was in a situation where I wanted to take money out of LC.
New loan up TUE Lunch time....
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 7 days A2 10.96% Personal 36 months $7,350.00
I guess early repays just means you need to reinvest the funds agaain.
What are your stats for arrears looking like?
2 x further new loans up TUE Arvo...
I'm Going to put the call out there to lending crowd that its time for some additional features to play catch up with the features that harmoney have delivered recently as well as some harmoney have had all along.
When there were very few loans you could get away without a good transaction/loan export feature, Something that harmoney needed and did not have(in the past they had one but it was not good), Harmoney have now delivered sizable improvements in this area. So it would be good to see lending crowd make something similar available.
Also the ability to view full loan details(income, expenses, city, house etc) of all loans in your portfolio - Harmoney have had this since near to day 1, and 5+ months ago they made major improvements making it much more accessible.
Humvee,
Are you looking for something more than the following w.r.t Data Export??
Attachment 8295
Thats about as useful as the very limited export harmoney use to have.
4th loan today just up :)
6 days and 16 hours A2 11.87% Personal 60 months $11,500.00
New loan up WED arvo....
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 6 days and 19 hours A2 11.87% Personal 60 months $60,950.00 $0.00
New loan up WED evening...
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 6 days and 17 hours A2 10.96% Personal 36 months $22,450.00 $0.00 View Buy
Loan just listed up
Evening Darchie,
Yep it's still showing in my list - Just gone up to 9 days overdue ( again! ) now!
Attachment 8297
New loan just up!
0% 7 days B1 14.74% Business 36 months $23,300.00
New loan up FRI arvo...
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 19 hours B1 14.79% Personal 60 months $30,450.00
I have a theory to go with your concept
-LN000-012 could be the base loan number. Although looking at my investments I cant work out how the numbering works. As I have two different loans with LN000-017-xxx and the grades and terms are different.
-586 is the investors portion which ended with the loan after purchase at 58.6% filled.
I invested in current loan which is online and got an investor portion of LNxxx-xxx-941. Using my theory that would put loan at 94.1% taken which happened to match the dashboard info for said loan after i bought. The loan had 573 chunks of $50 taken which calculates to 94.08% or 94.1% to 1 decimal place which also matches.
I will see if this holds true for my next buy too as this might just be a coincidence too. I hope that made sense.
Today
http://www.interest.co.nz/news/83565...tarts-low-bank
Comments?
As much as I think LC is great.... Wayne needs to check on his statement that they have NO loans in arrears...... as I currently have 2 ( one = 14 days )
Attachment 8311
Two loans up MON
Funded Time remaining Grade Rate* Type Term Amount My investment 71% 6 days and 19 hours A2 11.87% Personal 60 months $12,350.00 View Buy 6 days and 19 hours B2 18.74% Personal 36 months $2,400.00
I must say I'd quite like to see this sort of information available on loan applications -- Creditsimple.co.nz -- or at least to know how LC's loan categories map on to this bell curve.
Gone in Under 7 Minutes
The following new Lending Crowd loan is available:
Loan ID Grade Term Rate Type Amount Purpose Funded L00-11-424 B2 36 18.74% Personal $2,250.00 Personal 0%
New loan up TUE arvo ( I missed out on the earlier one! )
Funded Time remaining Grade Rate* Type Term Amount My investment 0% 6 days and 18 hours B1 13.97% Personal 36 months $25,450.00
And another small one....
Funded Time remaining Grade Rate* Type Term Amount My investment 19 hours and 48 minutes A2 10.96% Personal 36 months $5,250.00
Funded Time remaining Grade Rate* Type Term Amount My investment 19 hours and 48 minutes A2 10.96% Personal 36 months $5,250.00
A small loan just listed
And yet another very small loan listed up
Another new loan up >
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 22 hours B2 18.74% Personal 36 months $2,250.00
New 50K loan just up....
Funded Time remaining Grade Rate* Type Term Amount My investment 45% 6 days and 18 hours B1 13.97% Personal 36 months $50,450.00
Another ( low Int. rate ) loan....
60% 6 days and 17 hours A1 8.42% Personal 60 months $11,350.00
If the purpose of the loan (L00-11-435) is indeed debt consolidation, the borrower should be reducing their existing repayment obligations, which can be contributed to the $1,723.24 LC payments.
However, in this imperfect world, "debt consolidation" often means debt restructuring, resulting in increased debt at better terms, with similar repayments.
New loan MON am ( almost funded! )
Funded Time remaining Grade Rate* Type Term Amount My investment 90% 7 days B1 13.97% Personal 36 months $10,350.00
New Large loan up TUE Lunchtime.....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 23 hours A1 8.42% Personal 60 months $70,950.00
Nope, I didn't get text for this one.
Just arrived now.
Another news update on the USA P2P markets....
http://www.zerohedge.com/news/2016-0...just-10-months
New 15K Loan up WED early arvo.....
58% 6 days and 22 hours A2 10.96% Personal 36 months $15,350.00
This may be helpful to sight all of LC's possible Lending Interest Rates....
Personal loansBusiness loans
A1 A2 B1 B2 3 Years 7.90% 10.96% 13.97% 18.74% 5 Years 8.42% 11.87% 14.79% 19.10%
A1 A2 B1 B2 3 Years 8.95% 11.86% 14.74% 19.36% 5 Years 9.86% 12.84% 15.39% 19.75%
And yet another new loan up WED!!
6 days and 21 hours B1 14.79% Personal 60 months $15,350.00
Yet another small loan up....
Funded Time remaining Grade Rate* Type Term Amount My investment 19 hours and 19 minutes A2 10.96% Personal 36 months $3,750.00
New loan up late THU arvo.....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 18 hours B1 14.79% Personal 60 months $26,950.00
New loan up early FRI morning.....
Funded Time remaining Grade Rate* Type Term Amount My investment 6 days and 6 hours A2 11.87% Personal 60 months $30,450.00
New loan up FRI arvo....
Funded Time remaining Grade Rate* Type Term Amount My investment 65% 2 days and 21 hours B2 19.10% Personal 60 months $25,450.00
LC doing their own email notifications for loans now
Re Provance loan notifications; Chorus guy came round this morning and unknown to us crashed the router, meaning no Provance alerts between 12pm and 2:10, so we missed one small loan. Sorry about this, fixed now.
Last couple of weeks a littel bit quieter for Loans over here @ Lending Crowd... Deadly quiet @ Squirrel!
Trying to work out if there is a seasonal rhythm going here?
Maybe they are all using Harmoney. Seems to be a steady stream of loans there.
[QUOTE=mccollr;640424]Maybe they are all using Harmoney. Seems to be a steady stream of loans
They're Mainly Rewrites at HM
This seems very UNBALANCED.
I've just run some numbers over a loan taken recently but since repaid over night.
Placed $500.00 into LN-000-018-659 on 28 Sept @ 14.79%
Loan started 30 Sept
Loan repaid 13 Oct
Have been paid:
1.22 int
0.12 fee
0.21 tax
SO that adds up to 1.55 gross
Far short of the assumed 12days of 14.79% interest!!!
Comments and workings appreciated....
I emailed LC this morning and this avo they came back with this below ... I'm unsure if it's ethical to copy and paste ... but i think we need to digest their portrayal of events ...
OK so they hang onto our funds at both ends of the transactions!!! ....
so he says loan was for only 6days ... but i can't see how or why LC has given the calculation example like it is as a net interest figure ... if in fact it's for only 6 days at that interest rate shouldn't it be a gross figure ... I ask others opinions here please. I know its only small amount of cents ... but that's not the point. I want to know things are 100% correct.
I remember two loan details so extremely similar and rather close together... so obviously they were the loans in question!
LC response:
<<< The loan you invested LN000-018-659 opened on 30/9/2016 and closed on 6/10/2016
As the borrower miscalculated the amount he required, so the loan LN000-018-659 closed on 6/10/2016 and he has a top up loan opened on the same day.
In this case, your interest received will be $500 @ 14.79% / 365 for 6 days = $1.22
Once the loan closed, we required a 7 days clearing period to make sure no issues before we are able to return the principal to our investors, hope you can understand this. >>>
I now see the net interest has now been reduced on the LC loan statements to $1.10 ... that's happened sometime during the day
What do the T&Cs say? Presumably LC have covered themselves. If the borrower only had the money for 6 days, then you can't really expect to get 14.79%pa for the other days, as the funds were probably just sitting around earning only 1-2%pa. Think of the interest earnt by LC for those few days at either end of a loan as another fee.
Probably what should have happened is that LC should have given you accurate dates for the start and end of the loan ie. 6 days apart.
Yes i would absolutely like to see accurate dates ...
I now have 30 paid off loans, so will be checking them as well (which is on the plan) I'll have to assume/guess a number of holding days! That's far too loose in my opinion!
The loan in question shows in my bank statement as principal being repaid on 13th ... but in the paid off loans it shows as being paid off on 14th ...
I have just had a look at my repaid history and am disappointed to find that I have had exactly $1000 worth of loans paid off in 7 days. That is out of 102 loans with an approximate total invested of 16K.
New loan just up - Not seen any Alerts just yet!
Funded Time remaining Grade Rate* Type Term Amount My investment 1 day A2 10.96% Personal 36 months $6,350.00
OK Email from LC only just arrived now :)
Interesting both borrower 60+ and NO Death cover....
Just made me wonder if any Borrower would be cavalier enough to borrow and not care if they die?
I guess then we as Lenders are "In the Queue" as Creditors in that circumstance ( behind IRD etc )
A 2K loan just got filled in approx 5 mins...
Has anybody created any tools to analyse actual returns ? I like the fact Harmoney shows my return % and I am keen to know what % return my LC is tracking at also.
Monthly reports can be exported it seems but how do we filter and manipulate this data into something more useful.
Sorry haven't heard of this.
I dont have anything in my dashboard.
Found this on LC FAQ though which might explain what you posted about.
Why does my investment account not show a net average return (NAR)?
Calculating a representative NAR is in part dependent on sufficient data existing for the calculations to work on. For this reason to be included in the calculation a loan note's opened date must be at least 100 days prior to the calculation date. If no loan notes meet this criteria no NAR will be calculated or displayed on your investment account.
Yes, that's right.
How long have you been investing @ LC?
It will appear here after your 1st loan is 100 days old :)
Attachment 8399
Obviously my lack of understanding of accountancy and busyness, but how can annual profit be greater than annual income? Is there something I need to know?
Annual revenue: Between $250,000 and $500,000
Sector:
Other
Annual profit:
Between $300,000 and $500,000
I see 2 loans came through VERY close together today both from upper hutt, both wanting $20,450.00 and i strongly suspect it could well be another case where the borrower has decided to change from 3 to 5years after the loans already been filled. But for us lenders this means our funds are locked away for that extra 7days ... does anyone do screen shots of the loans before they fill? Thatd sort of confirm my suspicion
LC on FIRE today >> Loan after Loan after Loan!!!
1st Loan \ 2nd Loan
Attachment 8412Attachment 8413