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Topics - SeattleSun

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Investors - P / Wednesday 11/20/13 9am Loan Posting?
« on: November 20, 2013, 12:22:54 PM »

Its 9:22 PST and I am NOT seeing any new loans.

Same for all?

Investors - P / I just completed my 'rookie year' batting 13.07%
« on: November 19, 2013, 10:51:18 PM »

Well I have been at this 1 year as of yesterday and here are some numbers

1434 notes in two accounts
$103,534 in loans for a average of $72/loan

18% AA
33% A
34% B
15% C

I had my first write off last week.

Seasoned return 13.07%

99% of loans were done manually.  I tried the AQI (?) and gave up on it.

When I started my objective was a 10% return.

Comments/questions welcome.

Record Day for Prosper With Over $5.2 MM Originated

By David Snitkof
November 14, 2013

Yesterday was Prosper’s largest day of originations ever, with $5.27 million of new loans originated.  This is great news for borrowers and investors alike, as more and more capital flows through the platform.  The below graph shows Prosper’s daily loan booking volume for 2013 – a very positive trend.


We've compiled some of the most shocking facts about the payday loan industry from the Milken Institute report     below:

In the U.S., 12 million people borrow nearly $50 billion a year through payday loans.

The rates charged on payday loans can be up to 35 times those charged on credit card loans and 80 times the rates charged on home mortgages and auto loans.

Most borrowers owe payday lenders for five months out of the year and typically end up paying $800 for a $300 loan.

The estimated annual percentage rate on payday loans in the U.S. ranges from a low of 196% in Minnesota to a high of 574% in both Mississippi and Wisconsin.

Borrowers with six or more loans each year make up more than half of all payday revenues in California, and they end up paying at least $525 for a $255 loan.

Payday loan stores tend to aggregate in areas with higher rates of poverty. The six counties in California with the highest number of payday lender stores per 100,000 people have an average per capita income of between $17,986 and $26,300, compared to the statewide average of $44,980. The average unemployment rate among those counties is nearly 15.8% compared to the state average of 11.8% and one in five people lives in poverty compared to 15% nationally.

Read more:

P2P-Picks / Bryce Mason, P2P Picks: 5-13%
« on: September 30, 2013, 02:40:43 PM »

Bryce Mason, P2P Picks: 5-13%

Is that a 95% CI or ? 

A short explanation of such a wide spread would be appreciated.



Peter twitts:

The Evolution of Lending Club by Felix Salmon  -  September 30, 2013

I have a piece in this week’s NY Mag about Lending Club, part of a series of profiles of what the magazine calls “boom brands“. I’ve been a fan of the Lending Club model since April 2009, and have watched its steady, disciplined growth with admiration since then. As I explain in my article, the company has changed over the years: at this point, it’s much more about the Lending than it is about the Club, and the peer-to-peer nature of the site is much less important than it was at the beginning.

Ray has published his How the Economy Works before but a few days ago he put out this 30 minute video on the subject for the general public as Bloomberg said probably as a "public service".

Video 30 minutes

below the first section of this text covers the video in words.

Economic Principels - Section 1 How the Economic Machine Works

Ray Dalio
Ray Dalio (born August 1, 1949) is an American businessman and founder of the investment firm Bridgewater Associates.  In 2012, Dalio appeared on the annual Time 100 list of the 100 most influential people in the world.  In 2011 and 2012 he was listed by Bloomberg Markets as one of the 50 Most Influential people. Institutional Investor’s Alpha ranked him No. 2 on their 2012 Rich List.

Bridgewater Associates
Bridgewater Associates is an American investment management firm founded by Ray Dalio in 1975. The firm serves institutional clients including pension funds, endowments, foundations, foreign governments and central banks.

It utilizes a global macro investing style based on economic trends, such as inflation, currency exchange rates, and U.S. gross domestic product. Bridgewater Associates began as an institutional investment advisory service, graduated to institutional investing and pioneered the risk parity investment approach in 1996.

In 1981 the company moved its headquarters from New York City to Westport, Connecticut and currently engages 1,200 employees. It embraces a corporate culture that encourages transparency and the elimination of the decision making hierarchy,[3] and in 2011 was the world's largest hedge fund company with US$122 billion in assets under management.

General P2P Lending Discussion / Auto Loan Rates a 40 Year History
« on: September 25, 2013, 01:31:38 PM »

In August, U.S. auto sales hit an annualized rate of 16.0 million units. This is the fastest pace of sales since November 2007.

However, this has come during a period when median incomes in America have stagnated.

"How can these be reconciled?" asked Wells Fargo's John Silvia in a research note today.

"Two factors explain the conundrum," he answered. "First, as shown in the bottom graph, auto loan rates are at historic lows for the 48-month new car loan. Second, the asset-backed security market has become a prime source of credit for auto purchases."

That latter point is important because many people will cringe when they hear "asset-backed securities," or ABS.  Going into the financial crisis, ABS were the investment vehicles that fueled the proliferation of sub-prime mortgages by adding tremendous amounts of liquidity to the credit markets.

Simply put, here's how ABS work: 1) a bank will issue a loan to a borrower, 2) the bank will then sell that loan to an investment bank, 3) the investment bank will package (or securitize) that loan with other loans creating an ABS, and 4) the investment bank will then slice up the ABS and sell them like bonds to investors all around the world.

There are two benefits to the ABS process: 1) it frees up bank capital so that they can lend more and 2) it gives investors around the world access and exposure to more types of bonds.

"This development reflects two aspects of the credit markets that survived the recession," said Silvia. "First, the globalization of credit markets as much of the ABS paper is sold to foreign investors who are seeking higher yields with a degree of safety. Second, securitization of credit remains a viable means of financing economic activity despite negative commentary on securitzation in recent years."

The ABS industry got a bad rap during the financial crisis for being associated with sub-prime mortgages. But with transparency, it's pretty clear to see how ABS benefits everyone.

Read more:

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This news probably deserves its own string.

Prosper Raises $25 Million in New Round, Adding BlackRock as a Backer

Investors - P / Prosper Appears to Have Done a "Bonus Dump" at 12:47pm PDT!
« on: September 16, 2013, 05:52:09 PM »

OK Sports Fans it looks like Prosper did an additional feeding today at 12:47pm.

That new loan funnel must be working well?

Oh yea WTH is a "loan funnel"?  TIA

Investors - P / Saturday 9/7/13 - No New Listing at Noon?
« on: September 07, 2013, 05:00:18 PM »
It's 2pm PT now and still NOT seeing any listings for Saturday 9/7/13.

Can someone confirm that?  TIA


....the most I have seen. Now, after 10 minutes 85 of them have been fully funded.

Q.  The results of a long weekend?

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