August 17th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Ah, group rewards — the source of mucho controversy on Prosper forums. Some randomly selected thoughts on the matter:
A)I agree that sourcing borrowers not on prosper, deserves some sort of compensation. My next idea to push will be asking prosper …
Continue reading → Improving groups, first in a series of off the cuff rants
July 28th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Excerpted from my full post:
One vital thing that people still seem to fail to consider when it comes to lower credit grade loans (this principle is applicable to other grades, but is less significant):
our default data on HR’s, like every other cred…
Continue reading → What an X% default rate should mean to you, part 5
July 20th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
see Announcement thread:NO MORE DIRECT LINK TO TOP 10 GROUPS — AND ADMISSION FROM PROSPER THAT RANKS WEREN’T PROPERLY CALCULATED!! (though, the old link to the top 10 still works…. :P) my personal opinion on ranking these improvements, roughly des…
Related StoresContinue reading → My take on Prosper’s newest set of improvements
July 18th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Registered lenders viewing listings’ extended credit summaries, will see lines like: Now delinquent: 1 Delinquencies in last 7y: 1 Public records in last 10y: 0
Keep in mind, however, that while the now delinquent may actually refer to a …
June 26th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
I frequently hear people discussing the inadequate diversification of various lenders’ Prosper portfolios.
Here’s the thing — other than for tax/mental bucketing/liquidity reasons, who the heck should care if your Prosper portfolio is inadequately …
Continue reading → Appropriate levels of diversification for Prosper.com lenders
June 25th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
A post from traveler505 on the Prosper.com forums recently caught my eye:
A BK followed by current delinquencies is absolutely a red flag, unless the “now delinq” can be shown to be a reporting error. It is not uncommon for an account that was includ…
Related StoresContinue reading → How I Look at Current Delinquencies, from traveler505
June 20th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Making it more clear that I’m quoting a user with the handle of nonattender who posted something interesting on forums, and that I’m not implying that I’m writing a letter to prosper as a nonattender/someone dropping out from the prosper game. 
I f…
June 9th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
This is intended as a supplement to “Everything You Ever Wanted to Know about Group Rewards, But Were Afraid to Ask — The Long Version.”
First off, “group rewards” are better termed “leader fees.” Even in a 100% shared group, all that happens is tha…
Related StoresContinue reading → Be aware of how much group rewards/leader fees cost over 3 years!
May 28th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
As listings improve, and borrowers provide detailed budgets, lenders naturally begin to wonder about expenditures and over-optimism — can one, after all, get by w/just $75 on gas in LA?
My small contribution to the cause, and tackling the issue of gr…
Continue reading → Contemplating borrower budgets using objective metrics
May 23rd, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
…’nuff said. (Subtract off 0.25%, of course, for the infernal bank draft option…)
Also, advanced search now allows for almost every imaginable combination of criteria — and even cooler — every advanced search criterion is now applicable to stand…
May 20th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Wall Street Journal article viewable here.
If you want to engage in some good old fashioned pumping (but no dumping), click on the email button on the upper right hand side to send it to someone.
This helps the article move up the list of “top/most e…
Continue reading → Prosper makes the Wall Street Journal, and salon.com!
May 17th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Many Prosper users have long wished for an eBay-style Q&A on each loan page, where lenders could ask borrowers questions about their loans.I provide an open source solution to the problem athttp://prosperlenders.wikispaces.com/where further details are…
Related StoresMay 7th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
As Prosper expands, and more and more new lenders and borrowers sign up and start posting on Prosper forums, more social friction inevitably ensues. My role on Prosper is almost entirely that of a lender (and all-purpose gadfly on forums and blogs), …
Related StoresMay 4th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Please, please first read (or skim) my 4 posts on “What an X% default rate should mean to me” — which cover Prosper.com loans from the perspective of lenders
Default Rates, Part I
Default Rates, Part II
Default Rates, Part III
Default Rates, Par…
Related StoresContinue reading → A horribly oversimplified Excel model for modelling defaults
May 3rd, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Courtesy of economics_phd on Prosper forums — I consider this one of the most original hacks I’ve seen thus far:
Here’s my first contribution to “Prosper.com for Dummies,” by cellardoor and atlantageek.
Suppose you’re an E borrower who wants to borro…
May 3rd, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Someone recently proposed that we remove higher risk borrowers from Prosper altogether. I disagree (see Excel file at end of post as well).Instead:1)Consider further segmentation of the HR bucket2)Eventually, raise rate caps3)But first, increase overa…
Related StoresMay 1st, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Hmm…interesting post by Jon Witchel (or some other Jon employed by Prosper), Prosper’s CTO, on forums, which officially confirms that Prosper.com has purchased a late loan from lenders. Based on private comments from other lenders, the purchase was …
Related StoresApril 21st, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
I’m not particularly upset that I have a late loan given my bidding risk profiles (in which some % of my bids are non-qualitative, mathily modelled only, w/some sanity checks. I would of course be far less happy if some of my personally vetted loans d…
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April 20th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
…’cuz “unrestricted” would also be wrong…
Because the official Prosper.com forums are not fully integrated with our Prosper ID’s, there is currently no private forum on this board for lenders to discuss borrower details w/o violating their privacy…
Continue reading → A unrestrictive forum for lenders to discuss borrower details
April 19th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
Click on the image to see the full sized version of my Prosper.com loan portfolio.
Related StoresApril 7th, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
This explanation is best digested in combination with Prosper’s official help guide to group rewards – I wrote it in response to another lender’s question. Plus, I had to spend more time on the group rewards help page than the rest of the help page…
Related StoresContinue reading → Everything You Ever Wanted to Know about Group Rewards, But Were Afraid to Ask
April 2nd, 2006 — P2P Lending from cellardoor @ Prosperl.icio.us
0.Spellcheck and good grammar are important – this can seem silly, but people are put off by shoddy-looking borrower statements – ask your group leader for help if necessary. 1.Clear, detailed descriptions of what you need the money for, what kind…
Related StoresContinue reading → Advice to borrowers who are writing loan listings, updated
April 1st, 2006 — P2P Lending from cellardoor
There are plenty of ABS’s (Asset Backed Securities) out there of credit card debt, car loans, etc etc that are sold to institutional investors. I suspect the edge here is that institutions aren’t willing to accept packages of HR/E debt (much as histor…
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