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Post by Ace on Nov 15, 2022 8:52:50 GMT
Is it possible that they mean no increase in rates on existing loans? That's a fair point. I hadn't considered that interpretation. So far though, they seem to have decreased rates this year. According to their stats page the average contracted rate to lenders has dropped from 7.64% in 2021 to 7.34% this year. It looks like P2PFN interpreted CP's statement the same way that I did, link.
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rocky1
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Post by rocky1 on Nov 19, 2022 9:28:18 GMT
There is also the fact that you can be waiting up to two years for interest to be paid, compared to LP where interest is paid daily for compounding and boosting returns. are institutional funds still willing to fund some of these high risk loans for what seems a low return?
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Post by overthehill on Nov 19, 2022 9:59:20 GMT
There is also the fact that you can be waiting up to two years for interest to be paid, compared to LP where interest is paid daily for compounding and boosting returns. are institutional funds still willing to fund some of these high risk loans for what seems a low return?
The loans still seem to be funding without too much problem. Not with my money. I'm still waiting for a loan which is nearly 8 weeks overdue to have an update which even recognises that fact. If lenders don't see that as a distant warning bell then good luck.
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Ukmikk
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Post by Ukmikk on Nov 23, 2022 11:18:25 GMT
are institutional funds still willing to fund some of these high risk loans for what seems a low return?
The loans still seem to be funding without too much problem. Not with my money. I'm still waiting for a loan which is nearly 8 weeks overdue to have an update which even recognises that fact. If lenders don't see that as a distant warning bell then good luck.
Same here, I'm no longer investing into new loans and will be taking my funds elsewhere as the (usually late) repayments trickle in. I've lost faith in CP. I've noticed that loans are taking longer to fill so maybe retail investors are pulling out, but I don't think that's of any concern to CP now.
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