When investing in notes - 1 at a time? or multiple?

[OrthoInvest]

Just found out that 3 notes I had invested in all were denied - and this was on December 26th...Almost 3 weeks later. So that's $75 that sat there doing nothing when I could have used it to invest in other loans.

It makes more sense to make individual single note orders instead of multiple ones. Because I'm sure that a single loan was what held up that process with the 75 dollar order.

Instead of doing a 20 note order where potentially half could stall out, are people here doing just single note orders?

Hope that makes sense.

[Lloigor]

If you click order history along the top of your account page you can see what is going on with each note purchase you've made.  The notes are issued individually within each order, so for example: from a 20 note order you could have 3 still in funding, 4 funded and in review, 10 issued and earning interest, and 3 expired.  The order history page is updated in real time, and includes a table to see quickly what's happened with your recent orders.  As far as your comment about the money sitting there for 3 weeks... It's not ideal but having a note removed that's likely to go bad because of false info sure beats a default.

[OrthoInvest]

Thanks!
I see where it says that in the notes....but do the "funds available" for re investment become available realtime when the notes expire? I haven't noticed this to be the case -- the funds only become available when the entire portfolio purchase becomes "complete" with expired, issues, etc etc.

Maybe I'm missing something or not clicking on a box to allow my funds to come back right away.

[yojoakak]

Because I'm sure that a single loan was what held up that process with the 75 dollar order.

You're saying LendingClub suspends funding a loan until all the loans in all the orders that contain that loan are either funded or expire?

I have to admit LendingClub does some pretty bone-headed things with their system, but that would take the cake.

[OrthoInvest]

Because I'm sure that a single loan was what held up that process with the 75 dollar order.

You're saying LendingClub suspends funding a loan until all the loans in all the orders that contain that loan are either funded or expire?

I have to admit LendingClub does some pretty bone-headed things with their system, but that would take the cake.

That's what is seems like to me. I definitely don't get real time updates that I have 25 dollars available to invest.

From here on out, I'm just going to do single note investments as opposed to accumulating a large "shopping cart" of orders...Maybe there's something I'm missing, but from that order I had placed 3 weeks ago for 75 dollars - ALL 75 dollars became available only when the status of every single note was determined. It wasn't like a single note was determined to be cancelled and I got 25 bucks back....and I highly doubt all 3 were determined to be cancelled at one time.

No one else has had this experience?

[yojoakak]

That's what is seems like to me. I definitely don't get real time updates that I have 25 dollars available to invest.

By "real time updates" do you mean reloading the LC Summary page and not seeing the "Available Cash" number change?

Or waiting for LC to send you an Alert email?

[OrthoInvest]

Real time I mean there is no available cash until every single note in portfolio is accounted for...

So, I have had no available cash to invest, until all notes within a portfolio have a status determined.

[rev]

Real time I mean there is no available cash until every single note in portfolio is accounted for...

So, I have had no available cash to invest, until all notes within a portfolio have a status determined.

That's definitely not the case.

[AnilG]

That's what is seems like to me. I definitely don't get real time updates that I have 25 dollars available to invest.

From here on out, I'm just going to do single note investments as opposed to accumulating a large "shopping cart" of orders...Maybe there's something I'm missing, but from that order I had placed 3 weeks ago for 75 dollars - ALL 75 dollars became available only when the status of every single note was determined. It wasn't like a single note was determined to be cancelled and I got 25 bucks back....and I highly doubt all 3 were determined to be cancelled at one time.

No one else has had this experience?

My personal experience is similar. The money not invested in a loan is not released until all loans in the order are either issued or denied. Majority of my orders are single loan orders now. Once in a while I enter an order consisting of multiple loans just to see if procedure changed.

[william]

I don't think that could be the case because then there would be money missing from your account. So for example...


Ok so when I search for the note that is "In Funding" by loan id in the Notes tab at the top I can find it but when I repeat the process for the "Expired & Removed Notes" I can't find them. So if what you were saying is true I should be short $50 in my account (since I placed this same exact order twice I should be short $100) but when I do the math my account total is right. How did you figure out the funds were not coming back right away?  Am I missing something?

[rev]

Not to mention the explicit notice "Amounts from these Notes have been returned to your Lending Club account".

[Keltset]

Definitely doesn't work this way, my account has always balanced and the funds and I have had situations where funds from one order (different notes) were returned, because multiple notes were removed and not funded, at different times. I think what's lacking is their email notification of events rather than the account maintenance.

[OrthoInvest]

Probably you are right that the funds are being returned right away - I just haven't followed closely enough to see.

I guess when the portfolio is "complete" then it sends you an email with the final outcome.

That makes sense.

[rawraw]

Not to mention the explicit notice "Amounts from these Notes have been returned to your Lending Club account".

Even when I receive this, the funds take some time to show up.

[Keltset]

Probably you are right that the funds are being returned right away - I just haven't followed closely enough to see.

I guess when the portfolio is "complete" then it sends you an email with the final outcome.

That makes sense.

There is definitely a notification delay... I tend to ignore the emails now and log into the account to check things.