Comments on: Prosper Lending Update

By: money wars

money wars — Thu, 14 Feb 2008 22:13:16 +0000

Well, the economy and my exuberant Real Estate investing on the down slope caught up to me. Its hard to get a loan and I've got significant equity tied up. And I was the adviser. Ouch! I blame the feds with the interest rate increases.

By: Stephen Oakes

Stephen Oakes — Sun, 30 Sep 2007 03:19:31 +0000

The “now delinquent” selection allows you to filter out those who have had a history of missing payments on anything attached to their credit report, not just Prosper.

You can choose for a potential borrower to have anywhere from 0 up to a hypothetical 999 delinquencies.

My advice is to use 0 or 1 at most for this sleection. The fewer missed payments the better.

By: Shawn

Shawn — Sun, 30 Sep 2007 01:19:17 +0000

You stated “Perhaps Prosper will build their standing order screen to include those will no current delinquencies”

What does the “Now delinquent:” selection do under the “show more” options tab do?

By: Stephen Oakes

Stephen Oakes — Fri, 31 Aug 2007 14:34:50 +0000

Hey Joel,

Yes, I am in the black but I find that as time goes on my strategy has slowly evolved to the point where even the “C” rated loans are much too risky for my blood.

I’ll focus more on AA, A, and B for the time being and see how that works out. However, it will take some time to shift the balance of my portfolio towards the higher quality loans.

We’ll see how things play out. Like investing, you have to find a strategy that works and tweak it to maximize returns.

I wish you the best of luck in your lending portfolio. If you have any tips let me know. I’ll do the same. Look forward to hearing from you soon.

By: Joel Odom

Joel Odom — Fri, 31 Aug 2007 10:48:23 +0000

Hi. Are you in the black now, or are you loosing money? If you refer to my blog (linked above), you’ll see that I’m in the black, but I would have done as well in a CD. Do you think Prosper is still worth pursuing?

(P.S. I also blogged about recaptcha, which I see you using. Cool.)

By: Mike

Mike — Mon, 27 Aug 2007 20:13:32 +0000

I prefer to not use standing orders so that I don’t have to work so darn hard tailoring the standing order to avoid all the crazy stuff borrowers do to their credit.