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Topics - SeattleSun

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1
Investors - LC / My Decaying Star .......
« on: June 26, 2016, 11:43:45 AM »
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For totally personal reasons I have to unwind my 1200 active loan portfolio of mostly 3 year $100 dollar loans.

So far I have chosen to just let them run off.

At the end of this month (June 16) I will have about $10,000 to withdrawal.  More than I would have guessed.

I am trying to get an idea of what this decay will look like going forward.

Anyone done this before or can see the future. 

Is there a better way to do this?   Suggestions welcome   :)

I have a filo account but don't want to sell a significant portfolio at a discount, just stubborn.

TIA

Its a Prosper account but that shouldn't really matter in regards to this question.

2
Investors - LC / Who is "kind-bid-healer" who buys all these .....
« on: June 26, 2016, 11:24:11 AM »

(Yes I know this is the LC Investor thread but it gets about 10X the views as the Prosper one)

...these defaulted Prosper loans? 

"kind-bid-healer" has bought every one (60) of my defaulted Prosper loans for 11 cents on the dollar.

So besides "who" how about "what" is the strategy with doing that.

Just curious if anyone knows, TIA

3
Investors - P / Who is "kind-bid-healer" who buys all these .....
« on: June 26, 2016, 03:03:00 AM »
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...these defaulted Prosper loans?

Just curious if anyone knows, TIA

4
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New feature article on Lend Academy
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How to Rollover a 401k or IRA to Lending Club and Prosper
http://www.lendacademy.com/401k-ira-rollover-lending-club-prosper/


Therefore this feature article is very timely and relevant because I was just considering a "Direct Transfer" of a "Roth IRA" to Lending Club.

Just looking for any advise on potential pit falls, etc.

A $55k "Roth IRA" will be coming out of TDAmeritrade via a "direct transfer".

 Seems Lending Club’s preferred custodian "Self Directed IRA Services, Inc."  Any comments on these guys?  TIA

Also seem a new IRA account bonus is in effect now.

All previous accounts have been with Prosper so this will be our first LC account.

TIA

SeattleSun










5
General P2P Lending Discussion / Red Lining The Oil States - Help Question
« on: December 31, 2015, 08:24:22 PM »

Briefly caught a comment on CNBC today while driving that someone had put the consumer credit on watch from the zip codes in the oil field.

Anyone have that article or info?

I have shied away from lending into the oil field states but would like an opinion on just what states they are per the article.

TIA

SeattleSun


6
Investors - P / No New Loans at Noon (PST) on Saturday 1/17/15 ?
« on: January 17, 2015, 07:06:37 PM »
Haven't seen any new Prosper loans today (Saturday 1/17/15) ?   Is it me or Prosper?

Thanks

7
"With 77 million Americans having debt past due and the average household owing more than $15,000 in credit card debt, it appears the Fed's supposed plan to 'help Main Street' is not working so well. As the following chart from NewEdge's Brad Wishak shows, despite Fed Funds at practically zero, US credit card variable interest rates continue to rise - now at their highest since July 2001."

From ZeroHedge


8


Lender Yield: Prosper
By Angela Ceresnie
May 19, 2014

http://www.orchardplatform.com/lender-yield-prosper/

9
Investors - P / Did Prosper change their released times?
« on: May 15, 2014, 07:58:16 PM »
Seems I am see a lot of "odd" release times lately?
TIA

10
Prosper Raises $70 Million at a $600 Million Valuation


On the eve of the LendIt Conference Prosper has announced their largest investment round ever. They have closed on a $70 million round from Francisco Partners, Institutional Venture Partners and Phenomen Ventures.

This monster round comes on the heels of Prosper crossing $100 million in loans issued in April and the $1 billon milestone just one month ago. It has clearly been a good year for Prosper so far.

I chatted with Prosper CEO, Aaron Vermut, about this big news – it was the second time in the past week that we have talked about some very positive news for Prosper.

The $70 Million Includes a $20 Million Secondary Round

Of the $70 million total investment, $50 million is going on to Prosper’s balance sheet. The remaining $20 million is a secondary round where some existing shareholders are cashing out.

While the 8-K will be out with all the details in a couple of days sources tell me that this new round is at a $600 million valuation. This is up from a $100 million valuation less than eight months ago.

When I asked Vermut what he would be using this new money for he talked first about expanding the team. Prosper is opening up a second office in Phoenix, Arizona that will be a loan verification and underwriting center. Vermut said that there is a lot of underwriting talent in Phoenix and they are looking to tap into that expertise at a much lower cost than in San Francisco.

Prosper’s lease at their current location in San Francisco is up at the end of the year so they will be moving to a new location later this year. They expect to have a total of 150 employees by the end of the year split between the two locations.

Both Vermut and Ron Suber, president of Prosper, have said to me recently that Prosper is close to becoming cash flow positive. Then why raise so much money? When I posed that question to Vermut he had an interesting reply. He said while they didn’t need to raise $70 million, having a strong balance sheet will help the company in many ways – not the least of which is in recruiting more top talent for their management team.

Prosper will be expanding their board from five seats to seven. David Golob from Francisco Partners will be joining the Prosper board along with Aaron Vermut himself.

11
Anyone have a good site/graph for "real interest rates" over time, like 10, 20, 30 years.  TIA

Comments of my use of "annual" data, too long a period?  Use of CPI(U) vs. Core or CPE or ???

Comments/suggestions appreciated.

SeattleSun

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Real Interest Rates Fall to -1.42% in March 2014 (yoy) as CPI(U) ticks up to 1.51%.

Using the "annual numbers"

CPI is 1.51% to the second decimal place in March 2014 and the yield on the one year treasury is +0.09%

So the REAL interest rate is:
1 Yr T - Annual CPI = Real One Year Rate of Interest or
+0.09% - 1.51% = -1.42%

So your losing ONLY -1.42% purchasing power a year keeping your money in 1 Year Treasury Bills and -1.51% if you have cash under your mattress.

This isn't enough pain for the evil savers who are hording money in our society so expect the Fed to push for more inflation towards their target range of 2.0 to 2.5% and maybe beyond!

12
Investors - P / 134 Loans Available on Prosper on Easter Monday ?
« on: April 21, 2014, 11:55:44 AM »
Easter Monday morning I am shocked to see 134 loans available on Prosper.

EDIT:  12 more loans added for a total of 146 now.

Is the "glut" of lenders gone?  Any news article or other post on this subject?

TIA

SeattleSun

13
Investors - P / Availability of Fractional Loans by Orchard
« on: March 03, 2014, 12:33:27 PM »
http://www.orchardplatform.com/availability-of-fractional-loans/

In early February, Prosper announced that it had asked investors to limit their investment in fractional listings to a maximum of 10% of any loan’s requested amount.  The previous limit had been 50%.  This move was part of an effort to rebalance the marketplace on behalf of smaller retail investors, many of whom had begun to feel crowded out by larger investors who would snap up 50% of a listing immediately after it became available.  In today’s post, we examine the data to determine what effect the changes have had on the market for fractional loans.





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