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Topics - thezfunk

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As a final act as Lending Club investor I am trying to transfer my ROTH away from Lending Club now that I have sold all my notes.  Who am I transferring from?  Is it Lending Club?  Folio?  Web Bank?

General P2P Lending Discussion / Fundrise and Mint Email
« on: September 29, 2016, 09:39:13 PM »
So, I got an email through from Fundrise.  Anyone invest with them?  Experiences good or bad?

Investors - P / 2015 Tax Forms
« on: February 15, 2016, 11:51:20 PM »
Am I crazy or did I miss/can't find the forms for my Prosper taxable account for 2015?

FolioFN - Prosper / Selling My Prosper Notes
« on: January 11, 2016, 11:59:48 AM »
Hi Guys,

All of my Prosper notes are up for sale on Folio.  There are too many to list here but I started at +5% and will discount by 1% each day until they are gone.  I don't do auctions so they are all fixed price. 

My 'new' house is going to require me to raise some cash to finish renovations and since this is a taxable account, it will be redirected to flooring, plumbing, electrical, and drywall needs.  Since this asset class is best served in a retirement account, I don't know if I will be back on Prosper since I hear horror stories about their IRAs. 

Foliofn - LC / Penny Note Strategy
« on: November 18, 2015, 04:13:11 PM »
Anyone else running Anil's penny note strategy? 

Now that Lending Robot has my account working with Folio, I have started playing with it.  There were so many that fit the recommended criteria I had to start filtering tighter to avoid using up every available penny I have in my account.  I want to try this, not make it my primary strategy, unless it is wildly successful. 

After playing around with the filters, I found the extra filter of needed at least a -70% discount seems to have slowed down the buying.  Otherwise I was buying up notes for a couple of bucks that only have a handful of payments left.  The risk was high but the potential reward was really low.  Is this going to make this more or less profitable?  I have no idea. 

I figure I will buy up what I can this month and then stop buying and watch what happens.  If they all go bust, then I will be out a couple hundred bucks and I think I will learn more than $200 worth of information.

Thoughts?  Anyone willing to share?

Investors - P / A first month default was bound to happen eventually
« on: November 13, 2015, 12:48:51 AM »
So, it has been five years since I started investing with Prosper and I knew it was bound to happen eventually but I am still disheartened to see I have my first loan that defaulted on the very first payment

I hope karma catches up with that person sooner rather than later.

LendingRobot / My Secondary Market is finally working
« on: November 10, 2015, 11:17:54 AM »

I just wanted to report that my secondary buying strategy through Lending Robot just started working in the last couple of days, out of nowhere.  It hasn't been working for me since they started it and they couldn't resolve the issue.  Two days ago, it just started buying notes like crazy on Folio.  No rhyme or reason (following my filters, of course).  Thanks guys for finding a resolution and if it just started working by accident, well that's fine too.

P.S. After the first day I did get en email about accepting API agreement on Lending Club's website.  I logged in and accepted that and it continued to buy on the second day.  Not sure why I didn't have to accept it before it started buying but whatever!

FolioFN - Prosper / Prosper New FICO updates
« on: August 10, 2015, 10:21:49 AM »
Check your Prosper Folio notes.  We finally have FICO updates to May 2015.  So now I am only two months behind again.  At least I am not six months behind anymore, which is nice, I guess.

FolioFN - Prosper / FICO updates for the first quarter
« on: May 11, 2015, 03:16:24 PM »
Finally!  FolioFN on Prosper has updated FICO scores for the first three months of the year.  I only had to put three notes up for sale.  I look everyday for FICO updates and my persistence finally paid off.  Go check your notes!

Investors - P / Prosper Blog notes Retail Investors
« on: April 24, 2015, 12:11:51 PM »
It looks like Propser is officially acknowledging retail investors.  They have been spouting this over the phone to me when I call and complain but this is the first writen, public acknowledgement I have seen.

One of Prosperís key priorities for 2015 is improving the experience for our retail investors. This group of investors has always been an important part of Prosperís DNA, and we are committed to making changes this year that improve the products they use. This includes increasing the number of fractional loans in the pool, which is at a record number today.

The goal is to put the information investors need at their fingertips so they can easily understand the status of their Notes and more detailed information about how their portfolios are performing. Over the next several months we will be introducing a series of enhancements that focus on data analytics, account management and other investing tools.

Our first step this week was an update to the My Quick Invest Order history and Order Detail screens to improve the experience for the retail investor. The redesigned pages now give better visibility into pending orders and make it easier for investors to access and download data.

We are committed to making additional improvements for our retail investors this year. Stay tuned for more updates, and we look forward to your continued feedback and ideas.

I tried to leave a comment but it appears the comment system is broken.  *facepalm*

Investors - P / Accountant Borrowing Money for Taxes?
« on: April 01, 2015, 09:57:09 AM »

So we have an accountant/CPA borrowing money at +14% interest to pay his tax bill?  Doesn't that just seem...wrong?

Off Topic / Question for Peter
« on: March 11, 2015, 01:29:36 PM »
I have a question for Peter...

Have you ever gotten a request for info on any of the users here from FBI/NSA/Homeland Security?  Whatever the answer, I know I would appreciate, maybe in your quarterly updates, mentioning if you did or did not get any (illegal) requests for user information from said government agencies.

Investors - P / FICO scores not updating again
« on: January 30, 2015, 02:25:46 PM »

I had another post on here about FICO scores not updating every month.  I emailed a complaint in the last time and they brought my notes up-to-date.  Unfortunately, that fix was temporary and now my notes have two month old scores again.  This time I decided to call and talk to someone.  I want to put more money into Prosper but if I can't get an accurate picture of the health of my notes, then I will delay that deposit. 

I hit first level support who, upon hearing my concern, forwarded me to second level support.  I will withhold names but I spoke with someone who is a long time employee and very nice on the phone.  This person knew exactly what I was complaining about, for this person is also a Folio secondary market trader.  He made it clear that nowhere does Prosper promise regular updates to FICO nor are they obligated to do so.  I told them that I understood but my business is predicated on this working.  I can't actively trade if I don't have up-to-date information.

This person stated that there was a big system update within the past couple of months but nothing with FICO had been touched but this had been on ongoing issue since last summer.  FICO updates have been manual since then.  There has been a service ticket logged about it for a while and it hasn't been resolved. 

My other concern was that I had to dig deep into Folio and essentially put a note up for sale to see the most recent FICO score.  I asked why this information is not more readily available.  The person agreed it should not be so hard to see and it should be on Prosper in the note details.  Nobody should have to go into Folio to see that information.  This person said that idea was submitted in a ticket two years ago and nothing has been done.

This person did admit that their investor side support/information is getting a renewed focus for 2015 and they recently had a meeting about it.  They would like to grow their retail investors because they feel it is 'stickier' money.  Essentially, they don't trust the institutions to stick around if/when the economy gets rough.  Retail investors tend to keep their money around better than institutions.  Right now institutions are banging down the door but they could just as easily flee in large numbers. 

I hope to see some changes on that side of Prosper's business.

FolioFN - Prosper / Folio FICO updates or lack thereof
« on: December 19, 2014, 10:06:30 AM »
So, I keep track of FICO movements in my notes like many others on here.  I noticed that my Prosper note FICO's have been unusually static and decided to figure out the last time the FICO scores were updated.  It looks to me that the last time they were updated was in July.

Double you

Does anyone know if there is a stated policy or again, lack thereof, when it comes to Prosper updating note FICO scores.  How can I manage my portfolio if I don't get updated information in six months?  Should I call them up and shout wildly into the phone?

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