Author Topic: Peer Lending Server (New Lending Club Software)  (Read 20887 times)

sociallender

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Peer Lending Server (New Lending Club Software)
« on: September 06, 2013, 02:41:26 PM »
Hello,

Just wanted to let everyone know that a new software appliance is available that performs the following functions:

* Completely automates LC orders (Both API and screen scrape supported).  Now you can execute orders quickly before prime loans are funded.
* Provides easy to use artificial intelligence (Both classification and Survival Analysis for mature and non-mature notes learning).  AI is completely optional
* Historical analytics to backtest filters with instantaneous and projected ROI using forward looking loss curves (point in time probability)
* Up to 10 filters can be configured
* Includes macro economic data to improve machine learning
* No sharing your password with a 3rd party.  Software is installed locally on your own computer.

Check out a brief demo video at:

http://peerlendingserver.com/software/peer-lending-server-videos

I am specifically looking for a small group of people who would like to give it a try for free to provide feedback and feature requests.  I will give a least a free 1 year license if and when the software is sold to the public (based on interest).  If you are interested, please visit the download page and follow the instructions:

http://peerlendingserver.com/software/download/

SL




Zach

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Re: Peer Lending Server (New Lending Club Software)
« Reply #1 on: September 06, 2013, 02:55:09 PM »
After I agree to the terms of usage it opens a blank tab and nothing happens...

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #2 on: September 06, 2013, 03:02:05 PM »
Try it now, there was a caching issue on the web site.  Should work now.

rawraw

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Re: Peer Lending Server (New Lending Club Software)
« Reply #3 on: September 06, 2013, 03:03:59 PM »
It's amazing how diverse the ecosystem is becoming.

Joleran

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Re: Peer Lending Server (New Lending Club Software)
« Reply #4 on: September 06, 2013, 03:10:09 PM »
I get redirected to https://dl.dropboxusercontent.com/u/415842/PLS/PLS.ova after the TOS page and the latest Firefox displays it in plaintext, IE 9 downloads it...

I google ova files and it seems to be some sort of VM definition?  What's up?  I guess I need to download virtualbox? Why isn't this running as a straight executable?

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #5 on: September 06, 2013, 03:21:27 PM »
Thanks for the heads up on firefox.  I tested with chrome and IE but not firefox.  I will just add a direct link for now (I host the software on dropbox so I can easily deploy from our dev servers).

Great question:  Yes, PLS runs as virtualized software inside virtualbox.  There are many advantages to this which i have listed here:

http://peerlendingserver.com/support/faqs/why-virtualbox/

Unfortunately, the major disadvantage is that its not a simple "exe" install.  But I think that you will find it easy to install if read the install instructions.The user guide is still being worked on but hopefully it covers enough detail to get you going.

One other note, it is recommended to run the software on a computer that will always be left on if you intend to schedule the automatic service.  I personally have an old PC that has been running the software for months.  I don't ever need to even turn on the monitor.   This is just a recommendation
« Last Edit: September 06, 2013, 03:24:58 PM by sociallender »

ThinleyWangchuk

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Re: Peer Lending Server (New Lending Club Software)
« Reply #6 on: September 06, 2013, 03:33:03 PM »
Is there a condensed user guide.  I downloaded this ova file and have no idea what to do with it...

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #7 on: September 06, 2013, 03:40:37 PM »
Sure, to install do the following:

Download and install the free VirtualBox software for your specific operating system.  VirtualBox software must be installed first to run the Peer Lending Server appliance.

https://www.virtualbox.org/wiki/Downloads

After installing virtulabox for your specific OS, download Peer Lending Server and save the PLS.ova file to any location on your hard drive.  (You already have done this)

Start VirtualBox and do the following:  (usually a start icon somewhere)

Click File / Import Appliance
Click Open Appliance (choose the saved PLS.ova file you downloaded above) and Click Open
Click Next
Click Import
Read and Agree to license / Click Ok (wait for import to finish)

You will need to login with user id "user" and password "user" once it starts


These install instructions are here as well:

http://peerlendingserver.com/support/user-guide/#Installation

Also, remember to send your Lending Club user id (which is generally your email address) so that I can add you as valid user using the contact form on the web site.  There is very limited function of the software unless it validates your user id.


« Last Edit: September 06, 2013, 03:44:05 PM by sociallender »

Joleran

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Re: Peer Lending Server (New Lending Club Software)
« Reply #8 on: September 06, 2013, 03:42:16 PM »
The latency seems rather high in your video, have you been able to analyze your ability to grab loans that are posted for mere seconds before being locked out?

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #9 on: September 06, 2013, 03:57:03 PM »
There are a handful of factors that affect the speed of order execution:

Is your account API enabled (I imagine most are not enabled as LC requires more paperwork and approval)?  If it is, then orders are added as a bundle with one SOAP request.  If your account is not enabled, then screen scrape (using HTTPS) is required.  This is essentially an unstructured way of automating the order sequentially.  Each loan is added to the order using separate HTTPS requests one at a time.  I have used primarily screen scrape until recently (I do have API access) for about 5 months with no issues but it is definitely slower than API.

What minute delay you use when scheduling the service.  I have found that waiting at least 2 minutes allows the loans to be listed but I haven't figured out a way to be absolutely sure when all loans have been listed.  If anyone knows, please share.

Are you using AI?  If so, then extra time is required to classify/underwrite each loan.  On my system it takes about 30-45 seconds.  Time can vary based on the speed of your computer.  Manual filters do not require this extra step.

I have noticed that I have been blocked out of some loans because of 100% funding. I think it is only going to get worse as more and more investors compete. 


Zach

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Re: Peer Lending Server (New Lending Club Software)
« Reply #10 on: September 06, 2013, 04:07:02 PM »
Can you provide a suggestion for what type of value would be helpful to input in the "Artificial Intelligence" field? I have no idea what range of values would be appropriate.

viking

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Re: Peer Lending Server (New Lending Club Software)
« Reply #11 on: September 06, 2013, 04:18:40 PM »
How are users with multiple accounts handled?
Can the program handle both accounts (both E-mail addresses) simultaneously? If not, can we alternate with the E-mail addresses (e.g. every other day)?

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #12 on: September 06, 2013, 04:22:03 PM »
The AI field is basically a minimum percent value of the loan being fully paid.  Each loan is modeled and given a statistical percentage of being fully paid based on historical data for the entire life of the loan (not an annual percentage).  If you click the browse notes icon you will see these percentages listed in the last column labeled "model".  This value is the combined average value of 2 models (Random Forest and Survival Analysis).

I suggest clicking the browse notes icon and take a look at the assigned values for each loan to get a feel.  Please note the values are more pessimistic at first glance.  It is the likelihood the loan will mature without default.  This is not the same as the "Annual" expected default percent that LC provides.  Also, the RF model applies a cost factor to mis-classified charged off loans due to the unbalanced nature of the historical loan database.

I will be posting an article soon with more details to give more guidance.

Be sure to send me your LC email address/id if you want to use the software.  I am almost at capacity for testers. 

sociallender

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Re: Peer Lending Server (New Lending Club Software)
« Reply #13 on: September 06, 2013, 04:26:18 PM »
If you have multiple accounts, simply import the appliance again in virtualbox.  You can run multiple PLS instances within VirtualBox, each with its own isolated environment (user id).  When you import the PLS.ova file again it will be renamed to PLS_1 as to not impact the first instance. 

viking

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Re: Peer Lending Server (New Lending Club Software)
« Reply #14 on: September 06, 2013, 04:36:53 PM »
Not to play devils advocate, but can you somehow convince us that your program doesn't capture the password and forwards it elsewhere (outside of my machine)?