Show Posts

This section allows you to view all posts made by this member. Note that you can only see posts made in areas you currently have access to.


Messages - hdsouza

Pages: [1] 2 3 4
1
Investors - LC / Re: Investing with MyConstant
« on: January 08, 2020, 11:23:34 AM »
I don't have investing experience with MyConstant, however it just takes a bit of research to make me uncomfortable with the concept.

It sounds like to me as a lender you are just loaning to crypto speculators.


What Anil wrote may sound harsh to some. Doesn't make him wrong. ;)

What makes Anil wrong is the language used. He cannot be calling people Stupid on a forum and that they should be scammed. That means he supporting scamming.

Unlike LC though, it does not have bad Notes/Loans. This is from my personal experience from being with them since September.
Really.......? Really?

You could be right. Thats only from my personal experience.
Also from what I understand, each loan is backed by collateral, so if the borrower defaults, the loan amount is paid back from the collateral acquired. I must mention that I do not have the technical details or work for myconstant. They do have a Facebook profile so that maybe a good place to ask questions too.
The only reason why I did this post if I found vast differences between LC and MyConstant and I though people would benefit from what I already encountered.

2
Investors - LC / Re: Investing with MyConstant
« on: January 08, 2020, 08:32:33 AM »
No fee, no bad loans, crypto, setting your own interest rate, borrowing and paying interest. Yeah, I am selling a bridge too, do you want to buy. I read such bullshit and shake my head on stupidity of people.  Such people deserved to be scammed.

Looks like I ruffled some feathers. Crossed out the sentences that may offend sensitive people. But gist of the post still stands, if it sounds too good to be true it most probably is. Forum is filled with posts  complaining even about legitimate services like LendingClub and Prosper. What makes anyone think these fly by night operators can do better is beyond me.

Anil.
So are you saying that I am sensitive? Also does this mean that if I were insensitive you would let your initial statement stand ?
I am not sure what gives you the right to call people stupid and now sensitive?

Are these the same kind of Derogatory and inflammatory remarks that you have been posting all along.
Derogatory comments like yours will certainly make people think twice or desist before posting to the site again.

3
Investors - LC / Re: Investing with MyConstant
« on: January 07, 2020, 07:45:26 AM »
No fee, no bad loans, crypto, setting your own interest rate, borrowing and paying interest. Yeah, I am selling a bridge too, do you want to buy. I read such bullshit and shake my head on stupidity of people.  Such people deserved to be scammed.

You may need to read to whole post instead of a few words and draw a conclusion.
I was just creating a post.. there is no need to be rude or put people down.
If this is not the right place to post, let me know and I will remove it.

4
Investors - LC / Investing with MyConstant
« on: January 06, 2020, 11:20:52 AM »
I apologize if this is an incorrect place to post  this, but I did not see a section for MyConstant or misc investment.

Not sure if anyone is investing in MyConstant or is aware of it.
It is a P2P lending platform somewhat similar to lending club, that allows you to set your own interest and terms on crypto loans.
Unlike LC though, it does not have bad Notes/Loans. This is from my personal experience from being with them since September.
So all of a sudden, I no longer need to spend hours (or write/run my php scripts) to choose loans based on  credit history, location, job, home, etc etc etc.
Remember all the nice LC filters .... which would still get bad notes.

When I initially signed up, the Advertisement mentioned that I would receive $1000 deposited in my account which I could use for just a month.
After I signed my, I never received it and believed it was a scam.
Support mentioned there was technicality on the way I signed up, but then turned around and gave me $10 free and clear.

Curiosity got the better of me and I ventured into the site.
In the site we can invest funds two ways (I do not use the crypto staking as I do not have crypto currency ):
1) Flex: I get 5% and can withdraw the money anytime
2) Pro: Its a dashboard that allows me to set:
a) Amount of money  I want to invest
b) Interest rate: The average rate is currently 9%
c) Length of loan: I can specify a term anyway from 30 days to 360 days or even custom.

Interest rates:
The interest rate is based on supply and demand. In the Dashboard under "order book" you will see the investing orders and borrowing orders.
The investing orders are orders that investors have added. Its important to note the interest rate and term.
So when I add an order under "Invest" it will show up under "Investing orders".
Also be aware that the initial capital (I believe) is returned only at the end of the term period, unlike a normal loan, which contains principal and interest.
So there is always the though of "should I invest for a longer term and loose out on the reinvestment " or "go long term".
I usually break my investment into blocks of $100 and invest in varied "terms" of 30, 60, 90, 120. I have gone as far as 360 at times.


Under "Trade history" you can see history in the last 24 hours. That will give you a gauge of the Interest rate and term you can probably get.
It was 10% a few months ago and its about 9% now.

Fees:
There are no fees to the investors, when you invest.
There are no fees when you add money to your account.
There are no fees when you withdraw money from your account.
This is from my personal experience as an investor and I have done all three transactions.

Advantages:
1) I have granular control on how long I want the money invested, which could be as short at 30 days.
2) I do not need to filter borrowers for loans anymore unlike LC where a quarter of loans were late or default. All my past investments are successfully repaid. 14 loans repaid so far ranging from $10 - $500


Disadvantages:
Its important to note that the money in the PRO account is NOT FDIC insured.

Site: https://www.myconstant.com or you can use my referral link https://www.myconstant.com?r=DBL44KVXR5

Again I apologize if this is an incorrect place to post  this.

5
Investors - LC / Errors while accessing Note details on several notes
« on: July 10, 2019, 10:46:17 PM »
Since Monday I have been noticing several Notes with errors when accessing the "original listing" on several notes.
This is just one example: https://www.lendingclub.com/foliofn/browseNotesLoanPerf.action?showfoliofn=true&loan_id=66485064&order_id=93192624&note_id=106345018 and then Click on "Original listing" at the top right corner.. out pops the error.. "An Error Has Occurred. Your Lending Club account has encountered an error. We apologize for the inconvenience"

I am seeing several Notes with errors. Its almost like 5 in every 7 notes.
Is anyone else seeing the same problem?

6
Investors - LC / Re: Collection logs no longer published?
« on: April 04, 2019, 10:25:13 PM »
I had sent LC support an email yesterday and they mentioned they were checking on it .
If more of us contact support, they will probably understand the need for the Collection logs and put them back on.

7
Investors - LC / Re: Parting gift for you all
« on: April 03, 2019, 07:45:50 PM »
Yes. I second that. This kind of attitude and information to the community keeps us going.
You Rock buddy!!!!
... And ALL the Best in your new job.

8
Investors - LC / Re: Assign a note to a portfolio via API
« on: February 06, 2019, 06:08:19 PM »
I managed to get the python script to work.
If anyone is interested here is the code.
I have tested it and it works on windows 10, command line.

The script works in Python version 2.7 which is slated to have an End Of Life date as 2020.
So if anyone is interested in carrying out the upgrade to version 3 would be nice.

Code: [Select]
lc_login = 'your_email'
lc_pass = 'xxxxxxxxxxxx'

import os
import requests
import argparse
import sys
import glob
import lendingclub

lc = lendingclub.LendingClub(email= lc_login, password= lc_pass)
lc.authenticate()

portfolio_name = '12_Test'
loan_id = 111111111
order_id = 11111111
lc.assign_to_portfolio(portfolio_name, loan_id, order_id)

9
Investors - LC / Re: Worst Month Yet
« on: November 04, 2018, 09:56:10 AM »
When Notes turn delinquent they take out a huge chunk of the money we have earned in the form of interest received on the good notes. We really struggle to get the good notes and when one of them tuns bad it negates all the hard work put in.

LC really needs to do a better job of going behind the defaulters. But then, why should they. Its not their hard earned money. its ours.  Sorry I am ranting.

10
Investors - LC / Re: Assign a note to a portfolio via API
« on: October 25, 2018, 04:20:33 PM »
Thanks Fred.
I just heard back from Support
----------------------------------------------
Unfortunately, we do not currently have an option to move Notes into portfolios via the API. I am sure that you saw the pages regarding creating a portfolio via our documentation pages however, we do not have the option to move the Notes.

I will make sure to bring up your feedback regarding this feature to my leadership team.
----------------------------------------------

There is another way:
 https://github.com/jgillick/LendingClub/blob/master/lendingclub/__init__.py although it does need python.  Look for assign_to_portfolio

From the history it looks like we may have problems installing it on a windows platform too.

11
Investors - LC / Re: Assign a note to a portfolio via API
« on: October 24, 2018, 05:00:22 PM »
Thanks Panther. I will ask support and update accordingly

12
Investors - LC / Assign a note to a portfolio via API
« on: October 23, 2018, 07:13:45 PM »
Hi,

I need to be able to programmatically assign a note to a portfolio.
I have looked through the API resource  (https://www.lendingclub.com/developers) and do not see a way  to assign/move notes.

Any ideas?
Thanks
Hil

13
The biggest deceptive practice that LC employs is their cash flow system.
If you notice they take 5 days from the time the client makes a payment till the time the payment is effective.
To the normal eye it makes little difference, although LC makes tons of money on it

Again this is my assumption and I apologize if I am incorrect but....
... I was recently researching companies to buy Stocks and I stumbled on m1finance.com. I was surprised when they do not charge any fees for stocks and have an amazing system. So how do they make their money See https://www.reddit.com/r/m1f/comments/7lj33z/how_does_m1_finance_makes_money/ as the owner mentions "They believe eventually every investment platform will be free".

So I would conclude LC is doing the same with the funds they hold for 5 days. Investing it.
Another way.. It should not take 5 days for money to be credited to your account. When i transfer money between banks it is 24 hours.  Transferring money to m1finance was 4 hours!!!!

The difference of 5 days may not make a huge difference to the small investor like us, but i am sure if I received the Borrower payments without the 5 day holdup, I would have invested 5 days earlier.

Dont get me wrong. I am not saying I do not like LC. Actually I love them . I have to.. I have thousands of dollars invested :)

14
I have used NSR too and I believe they are pretty good.
peercube.com may have some options too, but I have never used them myself

15
Thanks Fred. Your suggestions are always helpfull

Pages: [1] 2 3 4