P2P Lending / NFT Lending Forum

Once again, it has been 4 days since any of my cash has been auto-invested in new notes.

Between the low loan volume on LC platform, the delays in getting "committed cash" actually invested into issued loans by LC, and getting auto-invest to get cash invested in new-issue loans in funding status, it is really becoming a headache putting cash to work in my account.

I see that several loans have met my criteria the last 4 days, however interest radar is not getting my cash invested in these notes. Instead I'm getting emails indicating "not an in funding loan."

I don't know what the problem is, but the auto-invest feature with IR has become unreliable for me in recent months. Anyone else having problems with auto invest? If someone at IR or Bluevestment is monitoring the forum, please give IR users such as myself an update regarding the performance of your auto-invest program. Thanks.

My auto invest hasn't invested in any notes for 4 days for some reason. I double checked that settings on website are unchanged and still listed as online.

In analysis section it indicates 0 notes meeting current criteria, but usually at least some of the new listings meet my criteria. And there's 2400 new issue notes on platform this AM.

Balance data is uploading to site. So I don't think there is a log in problem. Seems that analysis section just isn't indicating any notes meeting, so as result no investments being made by auto invest.

But no notes meeting criteria for 4 days?

Anyone else noticing this problem?

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."

Nathan, I can't help but juxtapose LC's own statistics in terms of dollar value of loans issued each month, compared with the typical number of loans we see on that platform at any given time.

I agree with you that it clearly seems that there are a lot less loans sitting on the platform waiting to be funded. Seeing 200-300 has been commonplace lately, but it wasn't long ago that you would see well over 1000.

So if the LC stats say that monthly loan issuance is still very strong, but less loans seem available on the platform, there's probably a few explanations which all are probably contributing:

1. Loans are getting funded faster in general, so they don't stay listed on the online platform for very long
2. I suspect many loans are getting funded before they ever make it to the online platform, because they are being snatched up by institutional investors.

I don't think the lower number of listed loans on the web site reflects less demand for loans from borrowers, because the monthly dollar value of loans issued (see the "statistics" section on the LC website, look at the Total Loans Funded graph) continues to be strong. In March LC issued almost $130 million in loans, so there's no weakness in loan demand.