Author Topic: Much less quality loans on Prosper in last 2 days, anyone else notice?  (Read 6352 times)

Kombinator

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On average my filters pick up 5-10 notes per day, yesterday and today were completely blank, anyone else notice a drop in their note purchases last couple of days?

MarinBB

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #1 on: November 19, 2013, 04:29:05 PM »
Same story here. I've only picked up 3 loans since Friday, down from ~3-4/day. The quality is lower and it seems like average rates are lower too. Two other lenders I've talked to have noticed the same.

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #2 on: November 19, 2013, 04:35:36 PM »
OK, so I am not imagining this, yes seems the quality and the rates went down somewhat sharply last couple of days.  I guess it may have been a natural result of them making such a big push to ramp up the volume so rapidly, something had to give.

MarinBB

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #3 on: November 19, 2013, 05:34:41 PM »
I'll try to dig into the data more tonight. There have been lulls before that have been temporary. They may have changed their model or lowered overall rates which would create a permanent offset going forward.

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #4 on: November 19, 2013, 05:43:09 PM »
Fair enough, would love to know the results.  Do you pull the data via the Listings API btw?

MarinBB

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #5 on: November 19, 2013, 05:48:28 PM »
Yes, I use the API. I look at the Loan $ return stats to gauge the performance of historical back-tests and the Prosper portfolio as a whole and the Listings/ListingsHistorical endpoints to get listing attributes for bidding and testing strategies.

The new API is pretty solid; I like it much better than the old one.

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #6 on: November 20, 2013, 01:22:15 PM »
Seems today the trend continues in loan drought...

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #7 on: November 21, 2013, 12:44:40 PM »
Still going on, 9AM loan search came up empty, was able to get couple of loans last night after manually launching the system, as the loans were posted in off time...

MarinBB

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #8 on: November 21, 2013, 01:16:13 PM »
This morning I only found listing 936303 that had a ListingStartTime of 2013-11-21 08:59:44. I'll need to look later tonight to see if they posted more listings before the usual 9AM posting time ... or maybe some after.

Peter

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #9 on: November 21, 2013, 02:06:35 PM »
I was only able to get one loan this morning - at 10am PT, but last night's run was much more successful where I invested in 9 loans that met my criteria. But with the exception of yesterday I have noticed fewer loans meeting my criteria than typical this week.
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Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #10 on: November 21, 2013, 02:10:16 PM »
Are they now deviating from posting at specific times and beginning to post at random intervals, or was this just an aberration connected with the recent hotfix?

MarinBB

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #11 on: November 25, 2013, 03:07:59 PM »
Does anyone know if the shift towards a longer posting period is permanent or temporary? New listings seem to take 20-30 mins to come out (1-2/min) vs. the old pace of ~10-15/min.

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #12 on: November 25, 2013, 05:34:32 PM »
Noticed that too, kind of annoying when they are screing with the investment parameters like posting times and length of time it takes for loans to come out...

investforfreedom

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #13 on: November 26, 2013, 07:30:40 PM »
I also don't see any reason why they have to drag out the listing period, except  because they don't want bots and people alike all scrambling to get a piece of the pie within the first 10 minutes, only to end up jamming their servers.  Actually, there is a simple solution.  If they banned anyone from grabbing 50% of a loan during the first hour or even the first 1/2 hour, at least for those of us investing manually, we wouldn't have to rush through. 
« Last Edit: November 26, 2013, 07:32:56 PM by investforfreedom »

Kombinator

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Re: Much less quality loans on Prosper in last 2 days, anyone else notice?
« Reply #14 on: November 26, 2013, 08:46:59 PM »
The most likely reason they have started to drag out the period is to let more people bid, as before all the notes were snapped up in the first seconds as all listings came out.  What they actually did is make it worse, as now the notes are snapped up even faster as the machines have to only compete for few notes at a time iunstead of all.  So good intentions, bad the effect is exactly the opposite one of intended:)