Author Topic: What's happened to all the borrowers?  (Read 11024 times)

Peter

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Re: What's happened to all the borrowers?
« Reply #15 on: April 16, 2013, 11:18:18 PM »
Storm, I have known Rev, the person behind Interest Radar, since before the site began. For the first six months of the site's existence everything was free although it did require an email registration. People here recommend it because they like it and it provides good value for money. No one here, myself included (and I a full paying member of Interest Radar) receives any kickbacks from Rev.

One of the other attractions to investors is that Rev is very active on this forum. Just look at the Interest Radar board - there are a passionate group of investors who interact with Rev on a daily basis.

Of course, Interest Radar is not for everyone, if you are happy using your own scripting tools the you should continue to do so. And you are obviously entitled to your opinion. But I can tell you that Interest Radar has become an integral tool for many LC investors.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

rev

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Re: What's happened to all the borrowers?
« Reply #16 on: April 16, 2013, 11:41:55 PM »
Thanks Peter!

I actually never realized that you could only see the subscription price after logging in. I made the Subscription page login-only for the sole reason that I need to know the user that is on the other side in order to credit the access after the payment, not to hide the price.

That said: it's fixed. You can now see the page before you sign up.
http://www.interestradar.com/subscribe

Cheers

Randawl

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Re: What's happened to all the borrowers?
« Reply #17 on: April 16, 2013, 11:53:39 PM »
Lending Club's priorities lie in maximizing originations subject to some minimum acceptable basal return on their portfolio.

Spot on

Zach

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Re: What's happened to all the borrowers?
« Reply #18 on: April 17, 2013, 04:14:20 AM »
I would just suggest everyone start using Interest Radar to compete with these big fish...

Call me crazy, but I think it is very shady when a website is not upfront with its pricing.  I shouldn't have to hand over my personal information to access that information.  I won't bother with retail sites that require registration to see the shipping charges, and this is no different.  It is recommended on this forum over and over which makes me all the more suspicious.  Then there is the idea that I shouldn't have to pay some 3rd party to invest my money. 

I have developed my own scripting tools that I use to invest that I'm pretty happy with.  Plus, many borrowers reveal they are using the loan for other purposes in the comments even though it is listed at debt consolidation.  I have changed my habit of investing late at night to waiting until shortly after the 06:00 PDT update.  I think Lending Club needs to limit the investment amount to, say, $100 for the first few days a loan is posted to give the little guy a chance.  Then the big investers can come in and fund the rest of the loan.  It really makes me wonder where LC's priorities lie.

Why is the pricing not upfront? They show the price of subscription under the "Subscribe" link.
But suite yourself if you're OK with your own situation. All I'm saying is that it provides a lot of value for an LC investor.

Fred

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Re: What's happened to all the borrowers?
« Reply #19 on: April 17, 2013, 08:29:50 AM »
That said: it's fixed. You can now see the page before you sign up.
http://www.interestradar.com/subscribe
Cheers

Thanks rev!

This increases InterestRadar's credibility a lot.

dontvote

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What's happened to all the borrowers?
« Reply #20 on: April 18, 2013, 02:16:59 AM »
Really pulled it out of the crapper!
dontvote

Interest Radar IRR: 46.11%
NSR ROI: 41.22%
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jsmathur

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Re: What's happened to all the borrowers?
« Reply #21 on: April 20, 2013, 01:06:34 AM »
for those interested in an official explanation of the lower perceived loan volume on the LC platform, there is a new posting by the company on the Lending Club blog that addresses this issue.

I pasted it below for those who are interested:

"
Posted by Lending Club :: April 20, 2013 @ 12:20 am

You may have noticed that the number of Notes listed on our Web site has recently been lower than usual.  This is not due to any slowdown in Lending Club's growth -- April will be our largest month ever with roughly $140 million in loans issued, a 10% increase over March and more than triple our volume in March of last year.  More loans than ever are hitting the platform.

The decrease visible loans is due to recent record inflow of investors and capital over the past two months (we signed up 2-3 times more new investors last month than average).  This capital is causing loans to be fully funded very quickly after listing -- usually within 24 hours.

We understand and apologize that the limited selection at any one time makes it harder to invest.

Actions we are taking to increase the number of Notes visible on the Platform include:

- We are, where possible, prudently reducing our investor acquisition efforts

- We are spreading larger investments out over time

- We are working on an automated investment tool that will enable you to specify your parameters and have trades executed on your behalf without the need to visit the website.  (We hope to have this ready by late summer.)

In the meanwhile, it may be helpful to know that new loans are listed on the website at 6AM, 10AM, 2PM, and 6PM Pacific Time.  Visiting the website at these times will allow you to see the broadest possible selection.

Thank you for your patience and support of Lending Club."

Fred

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Re: What's happened to all the borrowers?
« Reply #22 on: April 20, 2013, 01:25:56 AM »
For reference, the LC blog link: http://blog.lendingclub.com/2013/04/20/a-note-on-our-recent-loan-volume/

  • This capital is causing loans to be fully funded very quickly after listing -- usually within 24 hours.
    I think LC is being overly generous by saying "within 24 hours".  I suspect, it is much shorter than that.
  • We are, where possible, prudently reducing our investor acquisition efforts
    The phrase where possible is the key here.  ;)
  • We are spreading larger investments out over time
    I need to see specifics about this.  How is this accomplished?
  • We are working on an automated investment tool that will enable you to specify your parameters and have trades executed on your behalf without the need to visit the website.
    Looking forward to it!


rawraw

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Re: What's happened to all the borrowers?
« Reply #23 on: April 20, 2013, 07:12:37 AM »
Am I the only one who thinks that we as a "community" of LC investors whine a little too much?  I for one am happy I get the exposure to consumer credit and am perfectly willing to sign on at specific times to compete with the 'big guys.'   

Fred

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Re: What's happened to all the borrowers?
« Reply #24 on: April 20, 2013, 09:59:14 AM »
I for one am happy I get the exposure to consumer credit ...

I am too.


... am perfectly willing to sign on at specific times to compete with the 'big guys.'

I am not.   ;)  I travel a lot, sometimes overseas, so timezone is an issue.  Besides, I am not willing to log in a few times daily to compete with the 'big guys', so I am really looking forward to using the LC automated investment tool.

Lloigor

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Re: What's happened to all the borrowers?
« Reply #25 on: April 25, 2013, 08:52:18 PM »
This week has been better for me.  While total notes available is still only in the 300s after a batch is released, I have been able to find 3-5 I like in most of those batches.