Title: Lending Club Sells Out of Loans
Post by: Joleran on August 22, 2013, 11:00:00 PM
Post by: Joleran on August 22, 2013, 11:00:00 PM
As I write this, there are 8 loans total on Lending Club. 5 are over 90% funded. Will LC sell out tonight? It seems likely!
edit: Lending Club sold out of all loans on its platform early morning on 8/24/2013! However, it looks like there may have been a technical glitch as a number of loans appeared later that morning that were known to have been previously listed.
edit: Lending Club sold out of all loans on its platform early morning on 8/24/2013! However, it looks like there may have been a technical glitch as a number of loans appeared later that morning that were known to have been previously listed.
Title: Lending Club Sells Out of Loans
Post by: brycemason on August 22, 2013, 11:00:00 PM
Post by: brycemason on August 22, 2013, 11:00:00 PM
6 loans left, including whole loans!
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Down to 4!
Title: Lending Club Sells Out of Loans
Post by: core on August 22, 2013, 11:00:00 PM
Post by: core on August 22, 2013, 11:00:00 PM
Dog Eats All Kibble in Food Dish - Owners are shocked
Someone paste in the error message they display when the loans are gone so we have it for posterity.
Someone paste in the error message they display when the loans are gone so we have it for posterity.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
One slightly odd thing is the dog of the bunch, "Dela", at 50% funded.
https://www.lendingclub.com/browse/loanDetail.action?loan_id=6809893&previous=browse
It's nothing amazing, and I only invest in C4-G, but it doesn't look incredibly horrible. I'm surprised it's not further along.
https://www.lendingclub.com/browse/loanDetail.action?loan_id=6809893&previous=browse
It's nothing amazing, and I only invest in C4-G, but it doesn't look incredibly horrible. I'm surprised it's not further along.
Title: Lending Club Sells Out of Loans
Post by: cfb on August 22, 2013, 11:00:00 PM
Post by: cfb on August 22, 2013, 11:00:00 PM
There was one for 'sheep venture', listed as a small business. I wish you could ask specific questions. 
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
I liked the one earlier this evening that had a monthly reported income of over $500k. No way that's making it through review, but it fully funded unless it was pulled, which I didn't think happened.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
2 left.
Title: Lending Club Sells Out of Loans
Post by: DanB on August 22, 2013, 11:00:00 PM
Post by: DanB on August 22, 2013, 11:00:00 PM
Ok, I know you guys have been waiting for this so I will make you wait no longer.
I am officially sanctioning the temporary use of the term "extreme difficulty"............but just like storm warnings, please check back as the warning may be lifted at any time.
I am officially sanctioning the temporary use of the term "extreme difficulty"............but just like storm warnings, please check back as the warning may be lifted at any time.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
And then there was one. I almost want to invest in it just to help it along.
DanB, I'm brand new here, are you referring to the ability of individual investors to get the loans they want?
DanB, I'm brand new here, are you referring to the ability of individual investors to get the loans they want?
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
How much left of that 1 note?
Dan, better get a camera crew out to that sheep venture. Might be your only chance to make some money now given the extreme difficulty of finding notes.
Dan, better get a camera crew out to that sheep venture. Might be your only chance to make some money now given the extreme difficulty of finding notes.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
It's the one linked above, $3500 to go.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Just for the hell of it, in case it doesn't get funded by 6 am tomorrow.
[attachment deleted by admin]
[attachment deleted by admin]
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Geeze, that retina display resolution really shows on a screenshot. Sorry about that.
Title: Lending Club Sells Out of Loans
Post by: Zach on August 22, 2013, 11:00:00 PM
Post by: Zach on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: brycemason on August 22, 2013, 11:00:00 PM
Post by: brycemason on August 22, 2013, 11:00:00 PM
It's just huge. I should have rescaled it.
Title: Lending Club Sells Out of Loans
Post by: core on August 22, 2013, 11:00:00 PM
Post by: core on August 22, 2013, 11:00:00 PM
And what's a "Troop Strategy Meeting"? You in the armed forces or just have a boss that likes to be corny?
Title: Lending Club Sells Out of Loans
Post by: Peter on August 22, 2013, 11:00:00 PM
Post by: Peter on August 22, 2013, 11:00:00 PM
This thread was started an hour ago when there was 8 loans left. This one will be gone within the hour but it is slowing down.
Looks like the 6pm new load add didn't run or something weird happened. When I checked on Nickel Steamroller it looked like four loans were added. Is that what you saw Bryce?
Looks like the 6pm new load add didn't run or something weird happened. When I checked on Nickel Steamroller it looked like four loans were added. Is that what you saw Bryce?
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
At 6:02 and some seconds, about 100 loans loaded. They were gone in 5 minutes.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: DanB on August 22, 2013, 11:00:00 PM
Post by: DanB on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: Ran on August 22, 2013, 11:00:00 PM
Post by: Ran on August 22, 2013, 11:00:00 PM
I guess small investors have reached to a point when they are going to buy any loan they would find. Do not know when reality will hit those guys.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Thanks for the confirmation Bryce. NSR updates their volume numbers every five minutes so they were pretty much all gobbled up within that time frame. Truly extraordinary times right now at LC.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Post by: TravelingPennies on August 22, 2013, 11:00:00 PM
Looks like we're back up to 2 loans. Someone must have been holding a $250 fraction of this second one and it must have just been release/expired.
Title: Lending Club Sells Out of Loans
Post by: Joleran on August 22, 2013, 11:00:00 PM
Post by: Joleran on August 22, 2013, 11:00:00 PM
It was a $500 fraction and it's been getting chipped away at fairly quickly. At this point, we will either have 1 or 0 loans at the next release.
Could this be the new normal in the short term, where loans post, they're eaten up, and then LC has nothing to show people? It seems if that happens with any degree of regularity they're almost going to have to make some sort of adjustment just so new people to the site don't think it's broken.
Could this be the new normal in the short term, where loans post, they're eaten up, and then LC has nothing to show people? It seems if that happens with any degree of regularity they're almost going to have to make some sort of adjustment just so new people to the site don't think it's broken.
Title: Lending Club Sells Out of Loans
Post by: core on August 22, 2013, 11:00:00 PM
Post by: core on August 22, 2013, 11:00:00 PM
This is what I call exciting. Better than a football game. If they hit zero loans, I'm breaking out my best bottle of rum to celebrate.
Actually, I better start in on it now, just to get a head start... Just in case.
Extraordinary indeed. I simply cannot wait to see what next week has in store for us. Maybe I should pull my Folio sales down in anticipation of a mad run?
Actually, I better start in on it now, just to get a head start... Just in case.
Extraordinary indeed. I simply cannot wait to see what next week has in store for us. Maybe I should pull my Folio sales down in anticipation of a mad run?
Title: Lending Club Sells Out of Loans
Post by: SBryantMS on August 22, 2013, 11:00:00 PM
Post by: SBryantMS on August 22, 2013, 11:00:00 PM
Someone just threw $125 back. Still 2 available.
Title: Lending Club Sells Out of Loans
Post by: Peter on August 22, 2013, 11:00:00 PM
Post by: Peter on August 22, 2013, 11:00:00 PM
Ok. I am calling it a night. But can someone please post a screenshot on here when it gets down to zero loans. We have to record that one for posterity. Thanks!
Title: Lending Club Sells Out of Loans
Post by: Ran on August 23, 2013, 11:00:00 PM
Post by: Ran on August 23, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Would someone be kind enough to post a link to the 2nd open loan, for those of us that live in states containing nothing but corn and sheep? (And no origination)
I'm watching 6809893, what's the other?
I'm watching 6809893, what's the other?
Title: Lending Club Sells Out of Loans
Post by: GS on August 23, 2013, 11:00:00 PM
Post by: GS on August 23, 2013, 11:00:00 PM
There is only one left. The one you posted.
A second one just popped up, but it's only got $25 left. 6927024.
It's off again.
A second one just popped up, but it's only got $25 left. 6927024.
It's off again.
Title: Lending Club Sells Out of Loans
Post by: Randawl on August 23, 2013, 11:00:00 PM
Post by: Randawl on August 23, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Has Prosper ever run out of loans?
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: brycemason on August 23, 2013, 11:00:00 PM
Post by: brycemason on August 23, 2013, 11:00:00 PM
1000 left! Pass the rum, core.
Title: Lending Club Sells Out of Loans
Post by: Lovinglifestyle on August 23, 2013, 11:00:00 PM
Post by: Lovinglifestyle on August 23, 2013, 11:00:00 PM
$8975 received from 169 people, 90% funded.
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
875 lousy bucks left. Use the force, Luke!
For the price of a mediocre bottle of rum, just $25, you too can own a piece of history. You can say you were a part of the VERY LAST loan on Lending Club on Black Friday. The day the loans died. Once a month you'll receive photos of your sponsored child.... aww hell, come on, buy buy buy!
For the price of a mediocre bottle of rum, just $25, you too can own a piece of history. You can say you were a part of the VERY LAST loan on Lending Club on Black Friday. The day the loans died. Once a month you'll receive photos of your sponsored child.... aww hell, come on, buy buy buy!
Title: Lending Club Sells Out of Loans
Post by: DanB on August 23, 2013, 11:00:00 PM
Post by: DanB on August 23, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Title: Lending Club Sells Out of Loans
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
Post by: TravelingPennies on August 23, 2013, 11:00:00 PM
And we're there! 0 loans!
[attachment deleted by admin]
[attachment deleted by admin]
Title: Lending Club Sells Out of Loans
Post by: avid investor on August 28, 2013, 11:00:00 PM
Post by: avid investor on August 28, 2013, 11:00:00 PM
Nearly all good notes, all the time now, are funding in less than 10 minutes. Period. Been in LC for a number of years, with a significant exposure, and it has never been like this before the last few months.
I have NOT, however, had to "soften" my lending criteria. There ARE strategies, at least for now. They keys are WHEN to look for notes and how to select them once you have done so.
Bottom line... we have to work harder to stay fully invested, but if you invest more frequently, you won't have as much to invest when you do.
Ever since "approved" notes went away (months ago), we all have no choice but to have some money on the sidelines however, since it will take days for these fully-funded-yet-unapproved notes to actually disburse. And when they don't, we have to reinvest the same dollars on other notes.
So why bother? Easy answer... where else can you get 9 or 10% on your money without the wild swings of the market?
I have NOT, however, had to "soften" my lending criteria. There ARE strategies, at least for now. They keys are WHEN to look for notes and how to select them once you have done so.
Bottom line... we have to work harder to stay fully invested, but if you invest more frequently, you won't have as much to invest when you do.
Ever since "approved" notes went away (months ago), we all have no choice but to have some money on the sidelines however, since it will take days for these fully-funded-yet-unapproved notes to actually disburse. And when they don't, we have to reinvest the same dollars on other notes.
So why bother? Easy answer... where else can you get 9 or 10% on your money without the wild swings of the market?