28
Jan
Jan
Eric Launches LendingClubStats.com
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Eric, of Eric’s Credit Community, today announced on his site the launch of LendingClubStats.com.
There are currently a few different chart categories including:
- Loan growth rate shows great growth in the loans extended on Lending Club.
- Loans by Current or Late Status. Eric points out that this chart is currently useless because of the average age of the loans. I mentioned the same thing about the loan late rates posted on Lending Club’s site.
- Also posted are loans by credit grade and loans by amount.
- There is also a loan listing browser, but currently Lending Club only updates their statistics once per week so it is only useful for looking at historical loan values and not for finding loans to fund.
Currently, there is nothing exceptional available that you could not make in 60 seconds using the XLS file available on the Lending Club’s statistics page. Unfortunately, there is not much data available yet and it is not updated as regularly as Prosper’s data, so he did a good job with what is available. As more loan data is published, the site should become more useful and will likely expand. It is definitely a site to watch based on what great work Eric did with the Prosper data.
Lending Club is starting to scare me.
I put $5K on there to capture the 5% bonus, and I’m in the process of lending it out. I logged on today, and find that my “Available Cash” is $0.00, when it should be well over $1000!!!
I called “customer service”, and was invited to leave a message and wait for a call back. I did so, and we’ll see what happens.
No monthly statements, disappearing cash, flaky web site (did they ever tell you why sometimes the “available cash” and “principal remaining” detail boxes are there, and sometimes they aren’t?).
I’m seriously wondering if I’ve made a big mistake getting involved with what seems like a half-baked operation.
Wow! Sorry to hear that your cash is (at least temporarily) missing. That must be frustrating.
I did not lend $5,000 because it seems like a lot of money to put into P2P lending until I have more experience.
I did receive a reply back on the account detail. It was not visible for me at the time because I had money transferring between classifications. Rob said that they temporarily disable the detail view during money movements to prevent confusion. Personally, I am not sure why this should create confusion since the totals should still tie out. I did see the account details on my screen a few days ago when I logged in.