XIRR computed ROI after subtracting the loan value of all 4+ month late loans yields 4.78%, Eric’s has my ROI at 5.77%. LendingStats hasn’t been updated since mid August.After subtracting the loan value of all 4+ month late loans for the Prosper figu…
August 2008 ROI 4.78%
September 1st, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
Motley Fool article about Prosper
August 29th, 2008 — from j9359 @ j9359 (my prosper experience)
Just in case anyone still reads this blog and missed the thread over at prospers.orgAvoid this Company Like the Plague
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August 1st, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
Still in positive territory !LS has roi at 6.52% and Eric’s has roi at 7.29%And the late loans keep on rolling in.By my calculations after allowing for additional bad debt I made $1.57 on this portfolio last month.
Related StoresJune 2008 ROI 5.87%
July 12th, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
XIRR at end of June counting all 4+ month loans as worthless $403.02 in total loan value results in a return of 5.87%. Lending stats shows 6.97% and Eric’s has 7.66%Prosper continues to show a very optimistic value of $553.71 in gain a more realistic …
Related StoresLenders retain legal counsel and send letter to Prosper
June 25th, 2008 — , Lenders, Prosper from j9359 @ j9359 (my prosper experience)
If you are currently a Prosper lender or considering lending on Prosper you need to read this! The letter starts off with this:You can read the rest of the letter (warning .pdf file) here.Or read it in this Link to thread on Prospers.org.
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18 Months of Lending on Prosper (Part II)
June 9th, 2008 — , summary from j9359 @ j9359 (my prosper experience)
Advice for new Prosper lenders.So you are a new Prosper lender, and I’m guessing that the #1 question on your mind is: How much money can I make?Well the simple answer is: Not anywhere near as much as you think.The good news is that it is possible to …
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Continue reading → 18 Months of Lending on Prosper (Part II)
18 Months of Lending on Prosper (Part I)
June 6th, 2008 — , summary from j9359 @ j9359 (my prosper experience)
Part I of an n part series (where hopefully n > 1 ) to summarize my experience with lending on Prosper over the last eighteen months.Part I is mostly raw data.129 loans originated over 18 months, slightly more than 7 per month on average.14 loans have…
Related StoresUpdate to May results XIRR 7.27% not 7.35%
June 3rd, 2008 — , performance from j9359 @ j9359 (my prosper experience)
Both of the attempted payment pulls have disappeared, no big surprise. Corrected XIRR is 7.27%.And LendingStats has implemented some enhancements to correctly reflect the value of late loans and the “repurchased” loans from the new agency test. new L…
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Continue reading → Update to May results XIRR 7.27% not 7.35%
May 2008 ROI 7.35%
June 1st, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
As of the end of may, XIRR is 7.35%, Eric’s shows 8.33% and LendingStats shows 8.60% (but it looks like that is from 5/27 so LS is behind)Snapshot of my account:The total loan value of my 4+ month late accounts stands at $300.83, two of the accounts…
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May 31st, 2008 — , Rates, lending from j9359 @ j9359 (my prosper experience)
It looks to me like lender rates have moved up a bit. Certainly not a scientific study but I noticed the rates on my B loans in May seem to have finished higher than recent rates.Five B loans in May: 13.55%, 12.40%, 15.95%, 13.55% and 13.50%Seven B l…
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May 29th, 2008 — , bad loans from j9359 @ j9359 (my prosper experience)
Another great line from Monty Python and the Holy Grail!Some folks over on prospers.org noted that they had daggers on some 4+ month late loans, well so do I!Do I expect to see any money from this effort? NO. But at least Prosper is giving it a shot….
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May 28th, 2008 — , bad loans, performance from j9359 @ j9359 (my prosper experience)
Not looking too good for this month, two just flipped from late to 1 month late. Here is a screen shot, not a pretty picture.One of the two is an E link so it isn’t too much of a surprise, has made 15 payments and has gone late before but not all the…
Related StoresCorrection to Prosper statements for lenders suck
May 28th, 2008 — , Correction from j9359 @ j9359 (my prosper experience)
Andrew over at Prosper corrected some mistakes in this blog entry.Now that I look at this again I see where I got confused (again!). I looked at ‘interest received’ line item under payments received and noticed that it was a good bit less than the ‘ne…
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Continue reading → Correction to Prosper statements for lenders suck
May looking like a big month
May 27th, 2008 — , Prosper from j9359 @ j9359 (my prosper experience)
So far this month $7,930,000 according to LendingStats. This will easily surpass May’07 and will probably be the biggest month ever! Looks like the deal with WebBank is paying off with loans nationwide except for a couple of states. And I bet the …
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May 26th, 2008 — from j9359 @ j9359 (my prosper experience)
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Prosper statements for lenders suck
May 25th, 2008 — , Prosper, fart in your general direction from j9359 @ j9359 (my prosper experience)
Prosper has an overview page for lenders, here is a snapshot of what I have today.Lenders have probably seen this screen before ( with your own data). So how am I doing? This is the primary question (or should be) that is on lenders minds when they l…
Wondering why Prosper does not provide an ROI figure
May 18th, 2008 — , ROI, lending from j9359 @ j9359 (my prosper experience)
There is a forum thread over on prospers.org that got me thinking about why lenders have to depend on third party sites for their ROI figures. And I’m not talking about the ROI of other lenders but your personal ROI. Prosper has all the data necessar…
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Continue reading → Wondering why Prosper does not provide an ROI figure
Message for Gaelicman STOP LENDING!
May 16th, 2008 — , Investing, Lenders, Prosper from j9359 @ j9359 (my prosper experience)
I was going to write a post about our most recent deadbeat borrower cyfctmcwho I believe is now 1 month late on a loan originated on 2/18 (It looks like she made one payment) and as I read through the listing I was wondering who was the big (idiot) b…
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May 13th, 2008 — , Prosper, performance from j9359 @ j9359 (my prosper experience)
Prosper has released it’s marketplace survey results for April 2008. You can read a copy here or go to Prospers blog and read about it along with comments by Chris Larson (CEO).Of course they put a positive spin on things and there is some good (but o…
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Homeowners
May 9th, 2008 — , bidding, housing from j9359 @ j9359 (my prosper experience)
Are home owners a better bet? I’m not sure anymore and I’ve been giving listings by home owners more though before bidding recently.My understanding of how Proser calculates DTI is that they exclude mortgage payments under the theory that rent payment…
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May 8th, 2008 — , bidding from j9359 @ j9359 (my prosper experience)
Why doesn’t Prosper verify income and employment status on all loans? My understanding is that today the verification process is hit or miss, some borrowers are verified and others (the majority?) are not. The income range figures into a couple of im…
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Checkout: Prosper.com - the lawsuits begin
May 7th, 2008 — , Other Sites from j9359 @ j9359 (my prosper experience)
Fred93 has a post up:Prosper.com - the lawsuits beginCheck it out at this link.http://www.prospers.org/blogs/Fred93
Related StoresContinue reading → Checkout: Prosper.com - the lawsuits begin
Bad Debt Sale update
May 4th, 2008 — , bad loans from j9359 @ j9359 (my prosper experience)
There was an update on the official Prosper blog by Doug Fuller today on the most recent bad debt sale attempt.”In round numbers, the bids that we received were approximately 1/3 the prices bid in December. The price difference between the August and D…
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May 3rd, 2008 — , Prosper, bad loans, deadbeats, lending from j9359 @ j9359 (my prosper experience)
Well it appears there has been a hiccup in the bad debt sale. This post by Doug Fuller over on the official Prosper blog lays it out, but the simple explanation is that no one wants to pay very much. Take a look at the results from previous bad debt…
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May 2nd, 2008 — , Pseudo Accounting from j9359 @ j9359 (my prosper experience)
Just in case someone else runs into this situation I noted in my previous post, I have an explanation for the decrease in principle paid that I observed. First a couple of screen shots.End of March 2008:End of April 2008:Note that principle received i…
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May 1st, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
LS shows 8.62% and Eric’s shows 9.33% (both of these have gone up in the last few days, on Sunday LS was 8.40% and Eric’s was 8.89%).There seems to be some screwup on the Lending screen payments received figures. Take a look at my screen shot from las…
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April 28th, 2008 — , secondary market from j9359 @ j9359 (my prosper experience)
We are rapidly approaching the six month anniversary of the S-1 filling by PMI and there doesn’t seem to be any new information available. Now I can see how this could be far down on the SEC’s to do list but it would be nice to know how things stand. …
Related StoresLooking for gaps in the new Portfolio Plan slices
April 25th, 2008 — , PP, lending from j9359 @ j9359 (my prosper experience)
In case you haven’t noticed yet, Prosper updated the Portfolio Plan slices as part of last nights upgrade. But a new feature described on the official Prosper blog indicates that the updates are not automatic so you won’t be caught by surprise by the…
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Continue reading → Looking for gaps in the new Portfolio Plan slices
Interesting Performance Chart two
April 23rd, 2008 — , lending from j9359 @ j9359 (my prosper experience)
This is another interesting chart using the same data from the post on Sunday. The Y axis is the expected loss and the X axis the lender rate.Ignoring the credit grades and lines for a moment it sure looks like lender rate is a good predictor of expec…
Related StoresAnother payoff in progress
April 21st, 2008 — , lending, loans from j9359 @ j9359 (my prosper experience)
I was on this nice clean B loan now it is being paid off. Not too much of a surprise because they have been making two or three payments a month since the loan originated.But finding another 0-0-0 B that will pay 16.27% is going to be tough :(Anyway, …
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April 20th, 2008 — , lending from j9359 @ j9359 (my prosper experience)
I was playing around with the performance data over on Prosper trying to figure out if for a given credit grade does the loan amount matter when figuring losses. You should be able to click on the chart on the left and get a bigger version.What I did…
Related Storeswhat a difference a penny makes ($205.65)
April 19th, 2008 — , PP, borrowing from j9359 @ j9359 (my prosper experience)
How much is a penny worth? $205.65 (no, copper hasn’t gone through the roof, yet!)Consider a clean A listing like this one. Not a lot of early enthusiasm for this loan by lenders, part of the problem was the (old) NJ rate cap of 13.56% but if we fa…
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Continue reading → what a difference a penny makes ($205.65)
Portfolio Plans still like C grade
April 17th, 2008 — , PP, lending from j9359 @ j9359 (my prosper experience)
Here is a snapshot summary of the Portfolio plans as of today.(Click on image to get a larger version)This is sorted by min bid rate, notice the line I’ve highlighted. Here we have ‘C’ borrowers that are rated better than all the ‘A’ and ‘B’ slices. …
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April 16th, 2008 — , Enhancements from j9359 @ j9359 (my prosper experience)
If you haven’t been over to Eric’s CC site recently you should go check it out.I haven’t explored much but so far it looks pretty good.And Eric’s shows a higher ROI for my portfolio so it must be good! 
Prosper site update 4/15/2008
April 15th, 2008 — , Prosper from j9359 @ j9359 (my prosper experience)
Prosper made some pretty big changes last night.36% max $1,000 - $25,000 everywhere (except TX and SD)Instant transfer amounts lowered to $50 and up to max 50% of your loan value (need to install facebook app.)Second loan criteria updated, now depends …
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April 14th, 2008 — , lending, loans from j9359 @ j9359 (my prosper experience)
Is it just me or are other folks seeing an increase in early payoffs ?Today this one showed up as a payoff in progress. Not that I’m complaining !But this was a pretty nice A @ 15% (ok, in retrospect inquiries were high) that was one of the bright sp…
Related Storesloans for $5,000 or less don’t seem to be a lot safer
April 13th, 2008 — , bidding, lending from j9359 @ j9359 (my prosper experience)
I was bid off this loan listing which wasn’t too much of a surprise because it looks like a pretty good B and the amount was small. Then I got to wondering if smaller loans are less likely to default, that seems to be the assumption many lenders are m…
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Continue reading → loans for $5,000 or less don’t seem to be a lot safer
Taxes done! waiting to be stimulated :)
April 11th, 2008 — , stimulus from j9359 @ j9359 (my prosper experience)
Finally finished doing tax return. Looks like we are going to get some of the rebate money. Here is a handy calculator that will estimate what if any you might be getting.I’ll probably put some of this into Prosper over the next six months depending …
Related StoresA late April fools joke!
April 9th, 2008 — from j9359 @ j9359 (my prosper experience)
No “adult” content here, sorry
Q2 experiment
April 6th, 2008 — , Q2 Experiment from j9359 @ j9359 (my prosper experience)
I’ve started a bidding experiment for Q2 where I’ll bid 1% on promising loan listings and let the market set the final loan rate. Obviously I’m picking loan listings that I feel have a low chance of default. I expect that I’ll keep this up for April…
Related StoresROI 6.75% as of April 2 down 1.35% in two days!
April 2nd, 2008 — , ROI, deadbeats, performance from j9359 @ j9359 (my prosper experience)
One of two 3 month late loans flipped to 4+ months lateNot a real bad listing for an EBut the subsequent listing in Nov showed some desperation, oh well…..Not like this deadbeat: Pro226 who managed to manipulate the credit score to go from an E to an…
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March 2008 ROI 8.16%
April 1st, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
My XIRR computed ROI has rebounded at least temporarily. I write off 100% of the loan value of my 4+ month lates when I compute XIRR. But I’ve got two 3 month late loans lurking around the corner with a current loan value of $92.37 about to hit the 4…
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March 31st, 2008 — , lending, performance from j9359 @ j9359 (my prosper experience)
I just noticed a new feature on Eric’s called Borrower Segments that allows you to slice borrowers up by different categories. If you haven’t played around with it yet I highly recommend it.Try sorting by lender rate, I noticed something interesting (…
Related StoresAbout time for a bad debt sale
March 30th, 2008 — , Enhancements, bad loans, deadbeats from j9359 @ j9359 (my prosper experience)
I wonder if we are going to get a bad debt sale this quarter (time is running out). I quick check on Eric’s shows 926 loans are 4+ months late now. Seems like a big enough number to bother with even if some are too new to the 4+ month late club to ma…
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March 27th, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
I was wondering what the effect of one more or one less bad loan would be on my current ROI. The magnitude of the change was somewhat surprising. Tonight my account balance is $4,453.67 and the total loan value of my 4 loans that are 4+ months late i…
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March 26th, 2008 — , ROI, Satire from j9359 @ j9359 (my prosper experience)
Inspired by this blog post over at Prosper I now love Prosper too! It seems I just needed to learn a new way to calculate my returns. From the comments section:”I take the amount I initially deposited across all accounts, subtract that from the curre…
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March 24th, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
Loan Chimp has a post over on his blog listing his XIRR rate of 7.5%. Why is this below both the LendingStats and Eric’s estimate ? Because LC writes off any loan that is 1 month late or worse. Now I don’t think that is wrong, but it is probably und…
Related StoresThinking about a new bidding strategy for Q2
March 21st, 2008 — , bidding from j9359 @ j9359 (my prosper experience)
A recent post by Mike over at his Prosperous Land blog got me thinking about a new (for me) bidding strategy. Pick the very best looking listings in the AA, A and B credit grades and just let the market determine the interest rate. I’d set a very ti…
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update on effect of idle cash
March 20th, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
An update on my post about impact of idle cash on returns.Anonymous left a comment that I’d like to comment on :)I did account for cash tied up in winning bids in computing my average cash balance for each month but I didn’t include the cost of lost in…
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March 18th, 2008 — , Interesting Listings, bidding, lending from j9359 @ j9359 (my prosper experience)
Every now and then I take a look at who is doing well ROI wise and checkout what they are bidding on to see if I can learn something. Tonight I offer for your consideration these five lenders who have over 200 loans, average loan age over 6 months and…
Borrowing to reinvest in Prosper I don’t get it
March 17th, 2008 — , ROI, borrowing, lending from j9359 @ j9359 (my prosper experience)
I’ve noticed a lot of borrowing to reinvest in Prosper listing recently. Maybe I’m just paying more attention but it seems like they have increased. I’ve been asking the same question on each listing that I see:”What is the spread you are expecting b…
Continue reading → Borrowing to reinvest in Prosper I don’t get it
Portfolio Plans strike again!
March 15th, 2008 — , Interesting Listings, Satire from j9359 @ j9359 (my prosper experience)
Take a look at this listing that was noticed by Oak_Hill_Fire over at prospers.org. Balanced Portfolio slice #4 likes this listing at 14.20%.But anyone who takes the time to read the description is going to pass on this one.”Reinvesting in Prosper” is…
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March 15th, 2008 — , Interesting Listings, Satire from j9359 @ j9359 (my prosper experience)
Take a look at this listing that was noticed by Oak_Hill_Fire over at prospers.org. Balanced Portfolio slice #4 likes this listing at 14.20%.But anyone who takes the time to read the description is going to pass on this one.”Reinvesting in Prosper” is…
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March 15th, 2008 — , ROI from j9359 @ j9359 (my prosper experience)
There is a posting over on the Prosper forums by NCBroker with the title: “I’m pulling out of Prosper” and the reason given is lost income due to idle funds not risk due to defaults. Well this got me thinking (right after I thought NCBroker is an idio…
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March 14th, 2008 — , Satire, lending from j9359 @ j9359 (my prosper experience)
Received my monthly lender statement today. I don’t usually look at the Loans held section but I just happened to look at it this month and I noticed this phrase:”No successful payment activity for this statement period”What I found humorous about th…
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Continue reading → No successful payment activity for this statement period
Oil Well Rehabilitation loan
March 12th, 2008 — , Interesting Listings from j9359 @ j9359 (my prosper experience)
I noticed this loan listing tonight and thought that the idea was interesting enough to have a closer look. The number of inquiries is a show stopper for me on bidding. But I found the whole concept interesting. Had not really thought much about it …
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March 11th, 2008 — bidding from j9359 @ j9359 (my prosper experience)
I wish there was a way to specify and upper bound for the interest rate when setting up a standing order. In other words, I want to be able to bid on a loan but only when the interest rate has dropped below a certain level. Consider for example this …
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Continue reading → Wish there was a way to specify an upper bound on rate
Followup to previous post on Prosper ROI calculation
March 10th, 2008 — performance from j9359 @ j9359 (my prosper experience)
In case you missed it Andrew from Prosper posted a comment on my post from a couple of days ago. And pointed out the following text on the performance help page.”However, in situations where there is inadequate data to calculate meaningful roll rates …
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Prosper still using misleading lender returns
March 9th, 2008 — Prosper screw up, ROI from j9359 @ j9359 (my prosper experience)
On the home page Prosper is advertising lenders can earn between 9.49% - 12.81%Here is the search using their criteria of July 1,2006 to Oct 30,2007 observed on Nov 30, 2007 with 0 inquires, 0-1 current DQ’s and only auto-fund. I find it annoying that…
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Prospers ROI calculation wrong
March 8th, 2008 — Prosper screw up, ROI from j9359 @ j9359 (my prosper experience)
I use this search criteria (here is a screen shot)And I get the following estimated ROI table:But when I look at the Performance data I see this:So I’m looking at the column for AA and I see 165 loans of which 129 are active billed and less than 1 mont…
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