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Messages - SeattleSun

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31
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


32
Investors - P / Re: No New Loans at Noon (PST) on Saturday 1/17/15 ?
« on: January 17, 2015, 11:00:34 PM »
Looks like they hit a snag, I think it went off around 3


Yea looks like they dumped a bunch at 3:20 pm PST.

:-(

33
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

34
General P2P Lending Discussion / Re: Lenders population breakdown
« on: January 08, 2015, 09:56:57 PM »
Let me take a shot at that:

People who are Prosper/Lending Club lenders are "savers" or people who have money vs debtors.

So they are probably, like Costco members, college graduates. 

Older, white, male.

In my case BS Aerospace Engineer & MBA but retired from the manufacturing sector NOT finance.

I like many others was forced into "unsecured consumer lending on the internet" due to the Federal Reserves Zero Interest Rate Policy.  If I could get double digit returns, like my father did in the 1980s, in a laddered portfolio of FDIC insured Certificates of Deposits I would be their in a flash.

Since 90% of all Prosper loans are now "whole loans" those are the professional managed money.


35
"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


36
Investors - P / Re: Bought more Prosper Notes than LC This week
« on: July 28, 2014, 08:55:39 PM »
Neato. Are you using my publication?

I've been able to get a pace of about $500 / week originated on my low-risk publication. I forgot how long it takes to stand up a portfolio. I could put $100 / loan I guess, as these are better borrowers.


I am approaching 2,400 loans in two accounts and picked $100 when I started as I never thought I would have got this deep in P2P.  Was planning on a portfolio of 500 loans at $100 each.  Now wish I had choose $200/loan. 

Q. Bryce, don't like to "double down" when I have been "flat betting" $100 for the last few years.  What's the "risk" of going to $200/loan now?  TIA

Struggling to just reinvest the cash flow.  And now the smart guys are showing up on Prosper.  Ugh.

38
Investors - P / Re: Prosper as a cash or CD proxy - Advice requested
« on: July 10, 2014, 12:36:15 AM »
johnh,

Just please be aware of the risk you are taking.  CDs and cash are FDIC insured.  This investment vehicle isn't.  The default rate on the higher grade notes are very low, but the assest isn't liquid and it isn't backed by the feds.


This is good news "cash is FDIC insured" as I have $100,000 buried in the back yard and didn't realize the FDIC was insuring it.

39


Lender Yield: Prosper
By Angela Ceresnie
May 19, 2014

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

40
Does anybody know how the IRS characterizes interest income from LC & Prosper? I would like very much for it to be considered passive income in order to avoid having it count as part of my MAGI (Modified Adjusted Gross Income). If I have to treat it as portfolio income (as defined by the IRS) I will be ineligible for a ROTH-IRA contribution this year.


You can "legally" beat the Roth IRA income limits by making a after tax contribution to a Traditional IRA and then immediately, like the next day, converting (Roth Conversion) it to a Roth IRA.  Do it immediately to avoid earning income on the $5,500 Traditional IRA contribution which may complicate things.  Like you might try to roll $5,500.01 if you let it sit there a few days.

This is known as a "Back Door Roth IRA" contribution.

Just google that to get more info on the subject.


http://online.wsj.com/news/articles/SB10001424052702304104504579375432214126664

41
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

42
.
.
Missed a few presentation I would really like to see.

Any idea when the "videos" will be availalbe?

TIA

Live TV Feed
http://www.lendit.co/live-broadcast/

43
Investors - P / Re: Prosper Files 10-K for 2013
« on: May 05, 2014, 05:59:12 PM »
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.

Full article by Peter Renton

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 Ė 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 Prosperís 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.

Prosperís 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 didnít need to raise $70 million, having a strong balance sheet will help the company in many ways Ė 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.

44
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 Ė 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 Prosperís 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.

Prosperís 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 didnít need to raise $70 million, having a strong balance sheet will help the company in many ways Ė 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.

45
Investors - P / Re: Prosper Files 10-K for 2013
« on: May 05, 2014, 11:21:55 AM »
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.

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