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Messages - storm

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76
Investors - LC / Competing with institutional lenders for notes.
« on: July 15, 2013, 11:00:00 PM »
I'm cheap, so I'm waiting ever so patiently for LC to come out with its own auto-invest tool.  I can usually find a couple or more loans that meet my criteria each day, and then I usually invest $50 each as I don't need to diversify my account much more.

I do think LC really needs to think twice how they are treating small individual investors.  If it wasn't for us risking a few hard-earned dollars from our bank account and trying things out for the past 6 years, LC would not be where it is today. 

From an IT perspective, it is less cumbersome to have just a few investors contribute to each loan.  On the other hand, this feeding frenzy they've created 4 times a day is not so good on their servers especially as demand increases and third-party robots keep looking for loans.  I think we are seeing the effects of that with slower payment processing and loan status updates.  My recommendation is to restrict the amount that can be invested per user to, say, $100 for the first 24 hours a loan is posted, and then the institutional investors can swoop in after that.
77
Investors - LC / No payments for July 6,7,8
« on: July 13, 2013, 11:00:00 PM »
I usually sell the notes that look imminent they will go into their grace period (and they usually do).  Then I sometimes go back and check those notes, and it shows the borrower ultimately paid on time.  It is really frustrating to learn you've sold a perfectly good note at discount just because the payment wasn't processed in a timely manner.  I also wonder how many times borrowers paid on time and had to request LC adjust the status.
78
Investors - LC /
« on: December 31, 1969, 07:00:00 PM »
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