Author Topic: Suggestions Thread  (Read 4350 times)

SBryantMS

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Suggestions Thread
« on: February 16, 2013, 06:57:13 PM »
I thought I would open the new forum with a suggestion thread.

SBryantMS

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Re: Suggestions Thread
« Reply #1 on: February 16, 2013, 07:13:49 PM »
First changes that I would like to suggest are changes to the loan display. 

1) A P2P assigned number -- just so that I have a historical track of my selections -- this number should follow through the system from first click to final billing.

2) Loan Grade -- I have limited funds to invest. With all other variables the same, I would rather invest in a D4 than a D1

3) Loan Purpose -- I unilaterally will not invest in some loan categories i.e. Business, Medical, Moving, Vacation or Other.  As an alternative, in my profile, give the option of filtering out these type of loans.   

SBryantMS

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Re: Suggestions Thread
« Reply #2 on: February 17, 2013, 11:56:19 PM »

1) A P2P assigned number -- just so that I have a historical track of my selections -- this number should follow through the system from first click to final billing.
   

After working further with the product, it would be better if there was just a sequence number for each loan on the "Loan Selection" page that is static for the life of that page.  I find it confusing when I click on the Go button and my loan disappears from the page.  A sequence number would help me keep track that the page has updated.  The actual loan number should be listed on the "Pick History" page for tracking and billing purposes.

brycemason

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Re: Suggestions Thread
« Reply #3 on: February 18, 2013, 09:55:32 PM »
Thanks for the feedback! I will take some notes on these things as we continue with the beta and get feedback from all users.

Did you know that you can view your entire picks history under your account tab? A unique identifier could be included there without much trouble.

We use some technology on the picks list to filter out loans in which you have already invested, so that's why when you "Go" it disappears from that page; I want to ensure that you don't get billed twice for something you already paid for. If you were somehow unable to use the link, you can "Go" again for free on your account history page.

My primary goal is to keep things simple and powerful for the user. There's not much reason to worry about the sub-grade or even the actual interest rate, because if two loans are on the picks list, they are expected to perform roughly the same. If one is a D4 it probably has a little more risk than a D1, so that if you owned hundreds of each kind, the returns would be expected to be equal across both sub-grades.

Similarly, because loan purpose is already in the model, there's not much reason to stress further over it, either. The very rare small business loan that's on the list is expected to perform about the same as any other pick. When I need to buy into 50 loans, I just buy every pick on the list (with some very rare exceptions).



Cliff_S

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Re: Suggestions Thread
« Reply #4 on: February 21, 2013, 10:24:47 AM »
Just wanted to share some of my thoughts here.

Bryce Ė thanks for the Pick Tips.  Tip #6 got me looking around and I figured out I could adjust my tab setting under Tools Ė Internet Options to get the ďGoĒ hyperlinks to open in a new tab.  Makes the adding multiple notes in rapid succession very easy.

I have noticed that the updates seem to be about 15 minutes after the hour; Iím wondering if youíll roll that back closer to the hour once you go live.  Iíve seen some of the notes get 70-80% funded by the time they are picked up on P2P-Picks.  Not a huge issue since even if we miss out on a particular issue there will be another pool of notes available w/in 4-12 hours.


2) Loan Grade -- I have limited funds to invest. With all other variables the same, I would rather invest in a D4 than a D1

3) Loan Purpose -- I unilaterally will not invest in some loan categories i.e. Business, Medical, Moving, Vacation or Other.  As an alternative, in my profile, give the option of filtering out these type of loans.

With regard to adding Loan Grade Ė I have been just clicking Go on all of them and then remove the ones I donít want on the LC Order Summary page before I submit the final order.  For example, I currently pick up B3-B5 notes but donít want B1-B2.  I just delete the B1s and B2s if Iíve added some.

I understand unilaterally not investing in certain categories or filtering using criteria you have developed and have had good results with.  Thatís how I have operated up to this point.  What Iím trying to accept is that even though the filtering I was using looks great using historical data, going forward screening out loans using the same criteria is probably not scientifically valid.  I want to give Bryceís model a chance to prove itself to me, even if Iím investing in loans that would not pass my filtering.

Again, just my thoughts. 
Cliff

brycemason

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Re: Suggestions Thread
« Reply #5 on: February 21, 2013, 01:35:04 PM »
Cliff,

Glad the tips were helpful.

The models are run every 15 minutes. I intend to change the time stamp on the picks list to be a simpler "this list is X minutes old." If you see a pick that is 80 funded already, it has been picked since it was listed in the platform, but you just missed it so far. Some picks are getting funded within a few hours. Amazing. Another change already implemented is not to display picks funded >90% because within 15 minutes sometimes they fill up. I don't want to charge people for dead links.

At the end of the day, if users want to avoid certain categories, I will probably try to add some additional information for their further filtering. It's under consideration.

Thank you thus far.