P2P Lending/Borrowing
LendingClub getting bigger: Now filing with regulators
If you’re an active lender/borrower in the P2P community such as myself, the recent news (seen below) on LendClub’s site may strike as a shocking new development.
“Lending Club has started a process to register, with the appropriate securities authorities,…
9Apr2008 | Stephen Oakes | 0 comments | ContinuedProsper’s Portfolio Plans: How to Get the Best Returns
One of the biggest issues any new lender will face is how to gauge what his or her true return on investment is. It is somewhat misleading to bid on a loan with a high interest rate attached because there…
16Mar2008 | Stephen Oakes | 0 comments | ContinuedProsper Portfolio Plans: Replacement for Standing Orders?
For all of you die hard Prosper lending fans out there, this article will help you better understand some of the recent changes you’ve seen with your lending options.
Perhaps like you, I didn’t have the time of day to…
16Mar2008 | Stephen Oakes | 0 comments | ContinuedLending Club 101
Now that I have pretty much mastered much of what Prosper is all about, it’s time to take a serious look at their competitor – Lending Club. As I had stated earlier, the sign-up interface is very smooth. The site has…
14Jan2008 | Stephen Oakes | 0 comments | ContinuedLendingClub: P2P Lending Experiment
In my quest to find the highest quality lending rates, I have ventured over to LendingClub. This is not to say that I am dissatisfied with what Prosper has to offer — because I am doing quite well for myself…
8Jan2008 | Stephen Oakes | 2 comments | ContinuedProsper: My Interview with Chris Larsen (CEO)
Chris Larsen, CEO of Prosper, recently called me to discuss his company and some of the exciting new developments in the works.
Following the conversation, I thought a bit about my first impression of Chris. I can tell you first hand,…
19Sep2007 | Stephen Oakes | 0 comments | ContinuedQuestion & Answer with Prosper’s CEO - Chris Larsen
My Prosper Interview with Chris Larsen:
S.O. - Could you please introduce yourself and how you came up with the idea for Prosper?
C.L. - Chris Larsen, Co-Founder and CEO of Prosper. The idea behind Prosper really stems from my experience as…
19Sep2007 | Stephen Oakes | 1 comment | ContinuedProsper Options
I recently wrote in to Prosper’s customer support asking if there was any way I could do a standing order search that removed any potential borrower with a delinquency history.
Well, the response just came in and I was shocked…
7Sep2007 | Stephen Oakes | 0 comments | ContinuedWhen Prosper Loans Go Bad…
In my previous post, I told you about some of the loans that were late in my lending portfolio. While on lendingstats.com I noticed something peculiar.
I started paying attention to the title of the loans that borrowers create when trying…
30Aug2007 | Stephen Oakes | 1 comment | ContinuedProsper Lending Update
Common sense would tell you that if there were subprime lending woes in the market - Prosper would be no exception. Apparently, there is currently a flight away from the D, E, and HR. Lenders are now allocating resources in…
24Aug2007 | Stephen Oakes | 6 comments | ContinuedProsper: Is Greed Really Good?
Recently I’ve hit the 55 loan mark, earning an average interest rate of 21.3%. Additionally, I have just over $400 sitting in cash waiting to be lent out. Here’s my current situation…
·51: Current Loans
·1: Payoff in progress
·2: Late (…
Retire on Prosper?
Okay, it’s been a while since I have updated you on my Prosper journey. Things are still going very, VERY well for me. So far, I have four loans waiting for verification and 45 active loans in place earning 20.51%…
17Jun2007 | Stephen Oakes | 0 comments | ContinuedLending Statistics for Prosper
While on Prosper I noticed in the one of the borrower listings there was someone who not only uploaded a picture of themselves, but also a shot of their Prosper lending stats in a nice graphical display. At first I thought this…
25Apr2007 | Stephen Oakes | 0 comments | ContinuedProsper Pros and Cons
I found some great articles about Prosper by the same author titled:
Why Prosper.com Will Succeed & Why Prosper.com Will Fail by Justin McHenry over at Zen Personal Finance.
Apparently Mr. McHenry is taking the approach of a skeptic who is caught on the…
25Mar2007 | Stephen Oakes | 0 comments | ContinuedProsper Q & A
Straight from the Horse’s Mouth…
Who can borrow?
Any adult US resident with credit score of 520 or higher can create a listing for a loan on Prosper. After passing identity and fraud checks, borrowers can request unsecured loans from $1,000…
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