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Messages - neals384

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Investing - General (not P2P) / Re: where to invest further
« on: August 29, 2017, 11:50:57 AM »
Re. American Home Pres., Wikipedia says:

AHP uses the current value of the home as the basis for determining the modified payments, principal discounts and incentive payments offered to borrowers. As a result of this formulaic approach, borrowers are not required to furnish significant documents in order to obtain mortgage modifications.

So there's your risk factor.  Lost you union job?  Now flipping burgers?  No problem!

Investors - LC / Re: What loan purpose to avoid?
« on: February 03, 2017, 08:25:49 AM »
Vacation loans.  Not because of returns, but simply a moral judgement on my part.  If you can't pay for your own vacation, don't expect me to finance it.

General P2P Lending Discussion / Re: Best Filter for Notes on Prosper
« on: January 31, 2017, 11:58:56 PM »
A search through Peter's old blog posts wil turn up more than one extolling the virtue of repeat borrowers.

Investors - LC / Are LC Grades Completely Random?
« on: August 22, 2016, 08:38:43 PM »
Hi.  Have been on prosper for 5 years, and now that LC is allowed in Oregon, I'm getting my feet wet.

I'm really struggling to understand LC's underwriting.  Here's an example using two listings from last month:

                Listing 1       Listing 2
Amount   $35K       $24K
Period   60               36
HO?           Rent               Mortgage
Yrs emp.    7                   2
Salary   $9K              $9K
State   TX                   MD
DTI          24.86%        22.99%
FICO     725                  685
Open Lns      9                   8
Rev Bal   $25K        $2.6K
Inquiries      1                   1
Dqs (2 yr)      0                   3

There are more data points of course, but those are the highlights.  Which listing do you like better?  Would you expect a dramatic difference in grades/interest rates between the two?

By now, you may have guessed that listing 1 is a G1 at 28.18% interest, while listing 2 is an A3 at 7.59%.  Does this make any sense at all?  Or does LC simply use a magic 8 ball to assign grades?


Investors - P / Prosper Beta View
« on: July 03, 2016, 09:22:17 AM »
What do people think about the new Beta View?

I've been trying to find a way to get to saved filters from the beta view. As far as I can tell, it can't be done. You can click on "Browse Loans" and then "Advanced / Saved Filters but no saved filters are shown there.  My conspiracy detector says maybe this Prosper's way of getting rid of saved filters and those annoying retail investors that like them.

Another dumb thing:  the Account Overview screen has a little bar chart of your notes by grade, but if you have an IRA account, instead of the bar chart you get a bright orange box that says "Add some cash to start investing".  Never mind that you have mucho uninvested cash and hundreds of notes in your account already, the coder apparently thinks if you don't have a linked bank account you have no notes to chart.  Dude, just search for notes and if none are found and cash is $0, then display the orange box!

Investors - LC / How's My Timing?
« on: June 02, 2016, 08:09:22 PM »
Live in Oregon so have waiting years for our state to be added to the Investment side of LC (and made do with Prosper for 4+ years). Finally, as of Jan 2016, we are joining the 21st century.  So I opened an LC IRA for dear wife, initiated a rollover, and her account became active May 16.  Just in time for some really bad stuff happening at LC!

I do have one question - when browsing listings on LC, is there an easy way to ask for just the current feeding, or just new since last logon, etc?  On Prosper this is easy since each loan link changes color once viewed but on LC They don't.

Investors - P / Strangest Repeat Borrower Ever?
« on: July 27, 2015, 12:06:50 PM »
Here's a listing for an Auto Loan from a repeat borrower.  Borrower has five previous loans for a total of $25,000; no payments (late or on time) on any of them, and now wants $20,000 for a car.  No, it's not a data mistake - all five previous loans are dated July, 2015!

Assuming you file federal and state taxes using VA address, I don't see a problem. 

Let's walk this through.  Suppose we have, for 2014, $5,000 in P2P losses.  No other capital gains or losses.  And 100 shares of a stock worth $100/share; tax basis $80 per share.  We plan to sell this stock in 2015, when it may be worth, say $120/share.

Scenario 1:  Don't sell and rebuy the stock.  We have a 2014 write-off of $3,000 in losses against our income, plus a $2,000 capital loss carry over.  In 2015, we sell our stock and have a $4,000 gain, but we can use the $2,000 loss carry over to reduce that to $2,000. 

Scenario 2.  In late 2014, we sell and then re-buy the stock.  We have a 2,000 gain, and we still have $5,000 in P2P losses.  We still deduct the same $3,000 from our income, and our 2014 tax is the same as in scenario 1.  In 2015, we sell the stock and have a $2,000 gain, but no loss carry over, so we have to pay tax on the $2,000 gain.

In other words, there's no difference.

Borrowers - LC / Re: ATM Business Loan
« on: January 09, 2015, 12:43:31 AM »

I have a potato chip route

Gosh, Oreo, I had you pegged for a cookie route ;D

Sure, sorry.

I wonder - is there a place that centralize a number of peer to peer lending platforms in one place?
a place that can give me access to multiple platforms?

And on this issue -
What is better? lend in one peer to peer lending site or on several sites?


Hey, you can start one!  Call it ObamaLend ;)

Investors - P / Re: Serious Data Quality issues on delinquent notes
« on: December 15, 2014, 11:27:34 AM »
Shhhh.  Since you can't sell Past Due notes on folio, but you sell Current notes, isn't this an advantage?

Investors - P / Re: Note gone delinquent
« on: December 10, 2014, 01:34:11 PM »
Gosh, that listing looks good.  Somehow I missed out on it.

Investors - LC / Re: Interactive Visualization of Secondary Market
« on: November 22, 2014, 04:28:40 PM »
Thanks for sharing.  Just one minor nit - When I click the "FICO Change" tab, the chart changes but the chart title does not.

Foliofn - LC / Re: never seen this before
« on: November 19, 2014, 10:54:49 PM »
I saw this today while searching for notes and was wondering if anyone else had seen this before? Next to the amount requested there was a green box saying no fee. The borrower works for the archdiocese in Galveston would this be part of the reason. Do religious workers get the tax exempt status that religious organizations get? Thanks for your help.

Religious workers do not get full exempt status.  Pastors do have the option to receive part of their compensation as "housing reimbursement", which is not taxable.  This goes to the historical practice of having a parsonage attached to the church.  Nowadays, there's not usually a parsonage but the church still has the option to provide housing as a tax-exempt benefit (in lieu of the parsonage).

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