@Fred93
Looks like you were right. Last 2 weeks of September LC had typically 150-300 loans on platform. My cash was accumulating in account due to insufficient loan volume.
Then, all of a sudden, on October 2nd, they started adding loans to the platform. Now there's about 800 loans listed, and my cash is now fully invested.
It's pretty disrespectful to LC investors, especially ones with active/larger accounts, to deliberately time the release of loans that way. 2 weeks might not sound like a long time, but time accumulating cash for those 2 weeks is time that the cash isn't earning a return.
I've talked with my account manager at LC about this. The other problem I've been seeing for a few years, is the delay in getting committed cash invested in issued loans. When you invest in a new loan, if LC ultimately doesn't issue the loan, then that committed cash goes back to the cash account and you have to go through the cycle again waiting to invest in another note which (hopefully) will get issued.
I don't think LC should even be listing loans on the platform that they are not prepared to issue upon the loans being fully funded. It's the other major way I see that investors' time is wasted on the LC site. And of course it makes the new loan issue volume for LC actually look much larger than it actually is, as many loans listed on the site ultimately are not issued.
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