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Topics - jpildis

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Investors - LC / New FICOs
« on: August 27, 2013, 07:52:11 AM »
FICOs have been updated and I'm wondering what everyone's score trend mix looks like.  I'm at: 62% up and 17% down.

Interest Radar / How can I be faster that IR?
« on: August 24, 2013, 09:14:36 AM »
At 9:08 this AM I went into IR can clicked on one of my strategies... one loan popped-up and I bought it.  What I don't understand is that I have that strategy enabled for auto-buy and I see no record of IR executing a buy.  I know loan volume has been tight but this apparent poor system performance is most unfortunate.

Investors - LC / No Collection Log For Missed Payment???
« on: July 01, 2013, 10:17:50 AM »
I have several Grace Period loans where the borrower missed a payment but there's no Collection Log entry... wtf?

Loan id: 5197323
Loan id: 1634600
Loan id: 1621005
Loan id: 1448877

I sent examples to LC... I'll let everyone know the outcome.

Investors - LC / What's your oldest loan stuck in funding?
« on: June 30, 2013, 05:23:01 PM »
Ordered on 6/2/13...

I looked at all of my funded loans and I'm averaging 8.5 days from order to funded... not too bad but I've got several still hanging out from the first week of June.

Investors - LC / Selling Issued Notes
« on: June 26, 2013, 12:52:28 PM »
I have all of my issued-status notes up for sale but I'm not getting any purchasers.  Do any buyers or sellers have guidance on mark-ups that generate sales?


As non-institutional lenders, I fear our power with LC and Prosper are limited, at best.  I would like to gauge the community's interest in forming an association / union / council of significant lenders (I don't know the cut-off.... maybe >$50k).  The sole purpose of the group would be to drive change at Prosper & LC (and others as they pop-up) to be more investor friendly.  I figure if we can get a few million dollars of capital represented, we'll be able to get monthly or quarterly calls with management and get our voices heard.

I don't have a strong desire to lead such a group but I do want to get one together.  Whomever leads this group, in my opinion, should not be offering any pay-services to the P2P community... we need to keep the group investor focused and 3rd party tool agnostic.

Please post your interest / questions.  If you would like to join, please email me at jon dot pildis at gmail dot com.

Investors - P / Automated Folio Selling for Prosper
« on: May 31, 2013, 11:25:44 AM »
Are there any tools for automated selling on foliofn for Prosper?  I just started using the IR tool for automated LC selling and it's awesome,

Interest Radar / Note Churning... don't get it
« on: May 21, 2013, 12:37:30 PM »
I was looking at one of my distressed notes and I saw, via IR, that many of the notes for the same loan are being repeatedly bought/sold at a very slight discount to par.

Notice in the sales history that note ID:5992822 is getting sold every day!  Is this a data issue or is someone/something churning these loans?

I'm sure this has been discussed before, but I would like everyone's thoughts...

I have a significant amount in both Prosper and LC and, after reviewing my 2012 tax forms, I see that I have $10k+ of long-term capital losses.  This is fine as my income far exceeds that number but the difference in taxation is concerning.  My marginal tax rate is 33% so I'm looking at a 15% (factoring in the 2.9% medicare tax on wages) tax difference between my P2P interest and my P2P LT capital losses.

An extra $1500 of tax isn't the end of the world but it's enough to make me really think about whether I should organize my P2P as a schedule c business.

Investors - P / Tax Forms Jacked-Up
« on: February 01, 2013, 09:21:49 AM »
I just downloaded my and my wife's Prosper 1099s from Prosper and they are wrong... both have bogus entries in the charge-off sections that hugely inflate our losses.  Each 1099 had an extra entry that showed a single-loan loss that exceeds $4,000. 

Prosper is out of control.  Between this and the payment-posting delay last month, I'm getting a bad feeling about this operation.  Two very visible system/accounting issues is only the 'smoke' we can see... my fear is the extent of the fire we cannot see.

Investors - LC / Taxes - say goodbye to the small note exemption
« on: January 19, 2013, 12:26:43 PM »
Just spoke with my LC rep and she informed me that LC's tax documents will be similar to Prosper's... one consolidated 1099 for all loans combined.  I'm thankful I'm not going to have to mess with multiple 1099s this year and I'm wondering how many lenders have been underfiling prior to this year.

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