Author Topic: API placing orders on fractional loans  (Read 2597 times)

Fred93

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API placing orders on fractional loans
« on: May 16, 2015, 06:42:46 PM »
I'm new to the Propser API, so I'm cutting teeth on lots of little details.

My understanding (simply because someone posted the prosper email here) is that this rule determines how much I am allowed to bid.
Quote
for the first 24 hours after a listing is posted, the maximum percentage of the loan that an API user can bid on will be capped at 10%
once a listing is 24 hours old, the bidding cap will be lifted and API bidders can then bid on up to 100% of the loan.

Ok, so my software is trying to place an order today.  The listing in question is a fractional listing about 3 hours old, so the 10% limit applies.  ListingRequestAmount = 34000 , and I'm ordering 3400 which would seem to meet the rule above.   There's plenty remaining to be bought.  AmountRemaining = 27070  I do not yet own any piece of this listing.  My understanding of the rule above is..

I can order any amount <= 10% * ListingRequestAmount

in particular ... $3,400 = 10% * $34,000

However, I get this response (which is repeatable)

{"Status":"FAILED","Message":"NOT_PERMITTED_TO_INVEST_MORE_THAN_THRESHOLD_AMOUNT_PER_FRACTIONAL_LISTING",
"ListingId":3004920,"RequestedAmount":"3400","AmountInvested":"0"}

It seems to say it thinks I was trying to order more than "threshold amount" by which I presume they mean more than 10% of the requested amount, but I wasn't, so what could cause this? 

Is my understanding of the rule incorrect?  What did I get wrong?

nonattender

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Re: API placing orders on fractional loans
« Reply #1 on: May 16, 2015, 07:18:52 PM »
No clue, but interesting nonetheless:

See if you can order >10% of the amount remaining to be funded - if not, they've hired Zeno as a coder and are doing 10% of amount left to be funded, not 10% of the initial request amount.
A little nonsense now and then is relished by the wisest men.

Fred93

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Re: API placing orders on fractional loans
« Reply #2 on: May 16, 2015, 08:39:54 PM »
See if you can order >10% of the amount remaining to be funded - if not, they've hired Zeno as a coder and are doing 10% of amount left to be funded, not 10% of the initial request amount.

I thought of that but thought "oh surely not", because that would make it impossible to ever fund a listing during the first 24 hours.

Testing for Prosper.Zeno...

AmountRemaining is now 26995, so ...
I tried ordering 2690.  Got same error.
I tried ordering 25.  Got same error.
Zeno is nowhere to be found.   

My logic to determine whether I'm in a listing already is faulty.   Turns out I have already bid on this listing.

I used the Notes API to get the list of notes I own, and used the listing numbers found in each of those to make a list of already-invested-in listings and corresponding amounts.  That isn't quite the right list, because of recent listings that have not yet become notes.  ... {blah blah blah deleted}

This issue never came up with LC.  There a note shows up immediately after a successful bid, with status like "in funding", "in review", ...  So
"note" means something slightly different on P vs LC.

Edited to add: I figured it out.  Neither Notes nor MYListings will do the trick.  You have to use the Investments endpoint to find out what you've invested in.  I was blind-sighted by the terminology that's similar to LC, but means different things.  On Prosper, an "Investment" is a successfully placed order, whether or not the listing in question has become a loan. 
« Last Edit: May 17, 2015, 03:58:09 AM by Fred93 »

nonattender

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Re: API placing orders on fractional loans
« Reply #3 on: May 18, 2015, 06:31:42 PM »
Argh.  I came back to read what you'd wrote, again, because I was in too much pain to really close-read it the first time... Something
about "I prefer to be stateless, whenever possible."  I'm going to pretend that's what you said - and I'm stealing it (philosophically).

"read what you'd wrote"... my, my... I don't know how I feel about having written that...  ohwell.  I'll just remain "stateless", over it...

Glad you figured it out.  Thanks for the super-positional inspiration.
A little nonsense now and then is relished by the wisest men.