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Topics - ee1x

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Investors - LC / Internal Server Errors
« on: May 12, 2018, 02:33:36 PM »
See attached screenshot. Anyone else getting a ton of Internal Server Errors in the last week or so? I'm a little worried.

Are there any circumstances under which Prosper or Lending Club would allow a borrower to make payments with a credit or debit card?

Investors - P / Prosper reduces individual-investor threshold to 50%
« on: June 13, 2013, 03:35:03 PM »
In an email to Prosper investors:


In his note to investors at the end of April, President Aaron Vermut talked about important changes to the Prosper platform, including imposing a limit on an individual's stake in a given loan from the standard loan pool. This was a common request from members concerned about their ability to compete in the marketplace with larger investors.

We have continued to listen to your feedback and to monitor the effect of the changes we made in April and as a result have decided to adjust the policy. For that reason, effective the close of business today, the maximum stake an individual lender can take in a loan from the standard loan pool will be reduced to 50%.

We appreciate your feedback and are committed to helping our retail investors build diversified portfolios across all Prosper Ratings and loan terms.

Thank you,
Prosper Lender Services


Off Topic / Continuing on the topic of phones...
« on: May 29, 2013, 01:35:10 AM »
The last phone discussion had me wondering what carriers everyone uses and why. It's always interesting to dig deeper into the demographics of the community.

Investing - General (not P2P) / The Next Crash
« on: May 25, 2013, 05:58:10 PM »
When do you think we will see the next major economic downturn? One of the key macroeconomic variables critical to the success of P2P investments is the unemployment rate, which has been steadily declining since late 2009 / early 2010. When will the trend reverse, and how severe will it be?

Similarly, the S&P 500 has more than doubled over the past four years - when do you expect this run to end?

What other macro events will be critical in causing the next recession? How are you planning on protecting your portfolio?

Hey guys. Happy weekend to everyone!

So I've been running into this problem quite frequently over the past year and I still haven't optimized my typical "sales pitch" for p2p. I'll bring it up to a friend in passing every now and then, and I always feel like I lose people's interest quickly when I start gushing about this favorite hobby of mine. What's the most effective way you've found to talk to outsiders about the industry?

Investors - P / Whole Loans and the API
« on: May 13, 2013, 01:37:10 PM »
Does anybody know if historical data on whole loans is publicly available via Prosper's API? I noticed there is a separate private section for whole-loan lenders according to the documentation:

ListingsHistorical: - Whole loan approved lenders only

What I am thinking here is that Prosper is hiding historical data for W-status loans that are bought out and therefore don't make it to the retail listings...

General P2P Lending Discussion / Regulatory Challenges for p2p
« on: May 03, 2013, 02:01:11 PM »
What sort of regulatory challenges do you expect to show up for p2p lending in the coming years?

For example:
  • What will actually happen if Prosper goes under? Investors have the bankruptcy remote vehicle, but will it actually work as expected?
  • Will taxation issues become clearer? Will the IRS make an official statement about this asset class?
  • Will Prosper and Lending Club face legal challenges to unfairness inherent in their whole-loan programs?
  • What other sorts of issues might come up?

Investors - P / Listing times
« on: April 22, 2013, 02:26:43 PM »
Found the times for LC listing updates but can't seem to find the same info for Prosper... Have they been adhering to a specific schedule for adding new listings? What time does this usually occur at? Monday through Friday only?

Investors - P / Listing access issue
« on: April 19, 2013, 07:15:05 PM »
Is anybody else experiencing a redirect loop when trying to access listings right now?

I am curious to know what sort of operating system you use for your investment activities. Why do you prefer it?

I prefer Windows since I have more faith in that variant of Excel.

Investors - P / time spent on Prosper investing
« on: April 11, 2013, 02:40:50 PM »
Posing the same question as Fred, but for Prosper instead since I'm curious to know.

I'd like to try the Poll feature of this Forum.

On average, how much time do you spend on LC Prosper investing per week?

This includes time spent on:
- researching loans on the LendingClub Prosper and FolioFN platforms,
- running filters on other P2P research sites (InternetRadar, PeerCube, ...),
- running Excel analysis (if any),
- other "researching" activities.

Investors - P / Whole Loan Program - Fair or Not?
« on: April 05, 2013, 04:02:36 PM »
I've been pondering the fairness of Prosper's new "whole loan" program, where a handful of loans are randomly selected and offered to institutional investors prior to public release. In this "pre-release" stage, investors can purchase the entire loan instead of being capped at a certain percentage. Here's what I understand so far:

  • Borrowers make initial loan requests.
  • For each batch of requests, RANDOMLY reserve a subset (now known as "W" or whole status) for institutional investors.
  • Release the remainder to all investors ("F" or fractional status, where each investor is capped at purchasing 75% of the loan).
  • Institutional investors are allowed to purchase whole "W" loans IF they choose to do so.
  • After x minutes/hours, release all remaining unpurchased "W" loans to the general pool of investors.

At a glance, the methodology appears to be fair. Selection is done randomly, so all participants have a fair shot at obtaining loans at every tier of quality.  But one is inclined to believe that institutional investors with large sums of money to invest will generally have some above-average level of skill in selecting these loans. If this assumption is true, then from a statistical standpoint, one should assume that the remainder after step 4 will consist of loans that are expected to have a below-market rate of return as the large investors will "cherry-pick" from the pool in an effort to beat the market. Releasing this remainder to the general pool in step 5 dilutes the quality level available to the wider pool of investors, resulting in some amount of statistical disadvantage (however small it may be) to smaller investors.

I don't have any hard numbers on this yet but I can't see how this new methodology would not result in some measurable degree of quality dilution over time.

Do you agree?

Investors - P / The old "rate auction" method
« on: April 05, 2013, 01:49:16 PM »
I know this topic is ancient but I've only been around for a little while and I was curious - does anybody know the full rationale behind the decision to get rid of Prosper's old "rate auction" system several years ago? I know the change was made after the SEC shutdown and reboot, but I wasn't sure if this was an SEC-mandated change or if it was more of a risk-management move by Prosper.

Is there any chance of this method resurfacing in the future or is it just flat-out illegal? It seems that the current pre-fixed rate system works in the favor of institutions since other investors are no longer able to outbid rates... This appears to be especially true now that Prosper's "whole-loan" program is being implemented.

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