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My Zopa CD is No More

November 17th, 2008 — , Zopa, banks, credit union administration, credit unions, customer service staff, e mail, email, excellent customer service, excellent products, financial markets, good hands, member service, members interests, national credit union administration, ncua, provident credit union, service folks, service relationship, superlative customer service, transition, turbulence from RateLadder @ Rate Ladder

I received the following email… I had known it was coming: Zopa Shuts Down US Branch
With all of the turbulence in the financial markets these days, we want to let you know that your Zopa CD is as safe and secure as ever. As you know, your Zopa CD was issued by Provident Credit Union. [...]

P2P lending companies by loan volume

October 28th, 2008 — , Boober, Countries, Finansowo, Kiva, Kokos, Lending Club, Loanland, Microplace, Monetto, MyC4, P2P Lending, Prosper, Services, Smava, Zopa, loan volume, market, market share, moneyauction, peer to peer lending, social lending, virgin money from wiseclerk @ P2P-Banking.com

P2P lending is spreading internationally. While the biggest loan volumes are generated in the US market, many p2p lending websites have been established in other international markets.
The services can be divided in three categories:

p2p lending marketplaces (e.g. Prosper, Zopa, Lending Club, Smava) - participants driven mainly by economic motives
social lending services enabling micro financing (e.g. [...]

Zopa Shuts Down US Branch

October 14th, 2008 — , Italy, Lenders, News, P2P Lending, Zopa, benefit, borrowers, credit unions, economic crisis, economy, interest rate, interest rates, loan interest, loan services, loans, marketplace, p2p, peer to peer lending, regulatory issues, regulatory restrictions, restriction, turmoil from RateLadder @ Rate Ladder

Zopa, the UK based peer to peer lending company, is shutting down their US branch due as a result of toughening conditions that are currently being experienced by the US economy. Zopa provides loan services in the UK, as well as in Italy and Japan through a pure P2P style marketplace. Borrowers would request loans, [...]

Zopa Closes: More Negative P2P Lending News

October 10th, 2008 — , Lending Club, P2P Lending News, Prosper, The Economy, Zopa, risk from Personal Loan Portfolio @ Personal Loan Portfolio

I planned to blog in commiseration with Tom about being denied for a loan. Tom was denied for a Zopa loan and I was rejected for a GE Money Bank credit card through Amazon. GE Money Bank took 10 days to tell me that they could not verify my identity despite the promise [...]

Zopa closes shop in the US

October 9th, 2008 — , Zopa from tom @ Prosper Lending Review

I knew something was fishy at Zopa when last week they denied my loan request despite near-perfect credit. Was it a software glitch? Had they tightened lending standards without letting customers know?After posting the rant about my loan denial, I re…

Breaking news: Zopa withdraws from US market

October 9th, 2008 — , US, Zopa, affinity plus, closure, credit unions, zopa us from wiseclerk @ P2P-Banking.com

After several hours speculation following an email sent to some US lenders of Zopa including the statement “In addition, the Zopa social networking Web site will no longer be available as of October 9, 2008″, the Zopa CFO (UK) has posted a clarifing statement on the Zopa discussion board.
The email from Affinity Plus is partially [...]

Continue reading → Breaking news: Zopa withdraws from US market

Requesting a Zopa (US) loan can harm your credit history

October 2nd, 2008 — , US, Zopa, credit history, credit inquiry, zopa us from wiseclerk @ P2P-Banking.com

Tom of Prosper Lending Review found out that when he tried to request a Zopa loan not only was he rejected, but the Zopa credit inquiry was listed on his credit report. Unlike other p2p lending services in the US Zopa does a hard pull. The Zopa FAQ states:
We think it’s best if you assume [...]

Need a p2p loan? Avoid Zopa

October 2nd, 2008 — , Zopa, peer to peer lending, personal loan from tom @ Prosper Lending Review

I have never considered the possibility I might be denied for a loan - yet it happened today. Only once in my life have I ever missed or been late on a payment (about four years ago I moved and the utility company didn’t forward my last bill). I pay of…

Zopa.it - facts and figures

September 29th, 2008 — , Italy, Statistics, Zopa, zopa.it from wiseclerk @ P2P-Banking.com

Zopa.it goes live: 16th January 2008*
Average gross return on money lent-out through Zopa.it: 7.66%
Average annual cost on loans (APR) borrowed through Zopa.it: 9.45%
Registered members of Zopa.it: 23,242
Total loan volume since launch: €2,787,090
Number of loans: 535
Loan volume currently under evaluation process: €336,690
Average loan amount: €5,210
Average loan duration: 31 months
Amount rate late:€6,622.24 (percentage amount late: 1.88%) = [...]

Zopa Italy update - growth and secondary market

September 29th, 2008 — , Insurance, Italy, Zopa, rata protetta, rientro rapido, secondary market, zopa.it from wiseclerk @ P2P-Banking.com

Eight months* after the launch of Zopa Italy the p2p lending service says it is the fastest growing in Europe (2.79 million Euro = approx 4.075 million US$ cumulative loan volume as of Sept. 3rd).
And Zopa Italy is the first social lending service with an active secondary market, called Rientro Rapido (fast-track withdrawal).
Rientro Rapido offers [...]

Zopa UK reached 25 million GBP in loans

September 15th, 2008 — , UK, Zopa, loans, zopa uk, zopa.com from wiseclerk @ P2P-Banking.com

Zopa reached 25 million pounds in loans. Zopa states cash depositers received an average 8.3% return after charges at a default rate of 0.04 percent. (Sources: Zopa, Financial Times)

Zopa UK raises fees for new lenders

August 12th, 2008 — , UK, Zopa from wiseclerk @ P2P-Banking.com

Zopa UK has raised fees for new lenders to 1% (annual of capital outstanding). Old lenders continue to be served at the 0.5% fee.

Young Market at Zopa UK launched

August 1st, 2008 — , UK, Zopa, young market, zopa.com from wiseclerk @ P2P-Banking.com

Following through on the announcement (read: Zopa UK plans Young Market to target young borrower) Zopa has launched this market segment. Zopa says, it will help young adults, aged 20 to 25 obtain a loan, which otherwise would have difficulties - not because they have a bad credit history but because they have little or [...]

Zopa UK plans Young Market to target young borrowers

June 27th, 2008 — , UK, Zopa from wiseclerk @ P2P-Banking.com

Zopa UK said it will introduce 'Young Markets' (Young36 and Young60) specifically for borrowers aged 20 to 25. The need for this arises from the fact that currently many applications are turned down - not because the borrowers have any negative marks on their credit history - rather they don't have sufficient history of debt.
Zopa will [...]

Thursday Blogger Shout-outs

June 19th, 2008 — , Links, Zopa, fame, fitness health, health network, money magazine article, personal finance articles, security leak from Lazy Man @ Lazy Man and Money

I’m going to try something a little new and interesting this week. I thought I’d give a shout out to some bloggers and their articles that I find noteworthy. There are a lot of great personal finance articles, but this takes it a step beyond to the level of garnering a small amount of fame.
I’d like to give a shout out to Joseph Sangl for his appearance in Money Magazine. I’m just egotistical enough to claim that I’m probably the only person to review his book Joseph Sangl : I Was Broke, Now I’m Not and I [...]

Zopa Security Leak?

June 17th, 2008 — , Zopa, security from RateLadder @ P2P Lending

I was randomly checking my stats on Zopa and noticed that a person with whom I am familiar had chosen to help my Zopa loan… Thank you!!!
There is a feature on Zopa that allows you to send a thank you note via the website… So, I decided to do just that and I [...]

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Bankrate.com: Peer-to-peer online lending grows in tight economy

June 8th, 2008 — , Lendingclub, Prosper, US, Zopa from wiseclerk @ P2P-Banking.com

A recent Bankrate.com article gives an update on the development of p2p lending in the US.
Chris Larsen of Prosper.com sees the current financial situation as a chance for p2p lenders:
Home equity used to be the cash management tool for the credit-worthy borrower, and that has really, really dried up. In many ways, Prosper's three-year, 25,000 US$ [...]

An update on p2p lending in US | Bankrate.com

June 8th, 2008 — , P2P Lending international, Prosper, Zopa from Colin @ CommunityLend blog

A good update on p2p lending over at Bankrate.
Chris Larsen (Prosper) speaks about the current opportunity, in context of the US credit shifts.
Peer-to-peer lending grows in bad economy (Page 1 of 2)
“Home equity used to be the cash management tool for the credit-worthy borrower, and that has really, really dried up,” says Chris [...]

Zopa Late Borrowers Update -6/6/08

June 6th, 2008 — , General News, Zopa, Zopa News, collections from Blair MacGregor @ Lendoza - news & information on p2p lending and the social finance industry

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Zopa UK has released its most recent list of late borrowers, including updates on collection activity for those who are delinquent. Other information includes:
-3 cases being chased by CRS (Zopa’s collection firm)
-5 cases actively paying to CRS
-19 late payment cases
-9 direct debit issue cases
As well as a history of resolved cases.
The update can be downloaded [...]

I Borrowed Money On Zopa. Here’s Why…

May 22nd, 2008 — , P2P Lending, Zopa, negative interest from Lazy Man @ Lazy Man and Money

A couple of weeks ago, I went to Finovate Start-up to learn whatever I could from various financial company start-ups and report back to you. I hoped to find three or four gems in the 40 companies that presented. One of the companies that I was least interested in was Zopa. In the UK, Zopa is a very successful peer-to-peer lending company. This lead to their widely anticipated US release. When the product was introduced, critics universally panned the service. For the investor, Zopa is basically a CD - you get a guaranteed fixed [...]

Concerning Trust – Part One

May 16th, 2008 — , General News, Zopa, Zopa News, trust in social lending from Blair MacGregor @ Lendoza - news & information on p2p lending and the social finance industry

There are a number of lofty challenges facing p2p lending & other online social finance trends. One of these is the factor of trust that both lender and borrower have with not only each other, but the network facilitating the transaction. This will grow especially important as social lending looks to break more into the [...]

Zopa, Lending Club, and Kiva all Score at The Webby Awards

May 15th, 2008 — , Kiva, Lending Club, Zopa from RateLadder @ P2P Lending

Zopa took the Webby in Financial Services (Mint was People’s Choice). On Zopa you can buy a CD and help reduce my loan without giving up any of your entitled interest (current rate 3.75%): Start Here When Buying Your CD
Lending Club took the Webby in Banking / Bill Paying (Mint was People’s Choice). Lending Club is [...]

Carnival of P2P Lending #9 - Cinco de Mayo Edition

May 5th, 2008 — , Carnival, Lending Club, P2P Lending, Prosper, Zopa from Lazy Man @ Lazy Man and Money

Happy Cinco de Mayo! In a few hours from now I’ll be having tacos and maybe a cerveza. I draw the line at doing a hat dance. Grab yourself some nachos and chew on these articles about P2P lending…
Moolanomy spectulates why Lending Club has stopped taking new lenders. Interesting thought that “If they are successful, I believe they will emerge as the industry leader.” I think Prosper already has a head start on Lending Club, so I think they’ll just emerge as a stronger #2 than before.
Not to be outdone, Cash Money Life speculates [...]

Zopa US plans student loan feature

May 2nd, 2008 — , US, Zopa from wiseclerk @ P2P-Banking.com

Zopa plans to launch a student loan feature in July. Students can already use peer-to-peer lending sites to apply for a personal loan. At Prosper.com, education loans account for less then 2% of its 135 million US$ in loans. (Sources: Smartmoney, WSJ)

Fed Cuts Interest Rates — Now is the Time to Buy a Zopa CD

April 30th, 2008 — , Zopa from RateLadder @ Rate Ladder

For the regular reads this may be a bit of a rehash (Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%), but the fed cut rates again today… If you have been considering buying a CD now is the time a Zopa is the place. They are currently offering [...]SHARETHIS.addEntry({ title: “Fed Cuts Interest Rates — Now is the Time to Buy a Zopa CD”, url: “http://www.rateladder.com/2008/04/30/fed-cuts-interest-rates-now-is-the-time-to-buy-a-zopa-cd/” });

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Continue reading → Fed Cuts Interest Rates — Now is the Time to Buy a Zopa CD

RateLadder Lending Club Update

April 22nd, 2008 — , Lending Club, Prosper.com, Zopa, loanio from RateLadder @ Rate Ladder

Another late loan and another withdrawal. Eagerly awaiting the end of the “quiet period.” I think competition is good for the market and at the exact moment it feels like Prosper is the loan dog (pun intended) in the p2p lending market… Zopa provides a CD and Lending Club doesn’t have lenders. Will loanio launch [...]SHARETHIS.addEntry({ title: “RateLadder Lending Club Update”, url: “http://www.rateladder.com/2008/04/22/rateladder-lending-club-update/” });

Zopa UK reshapes markets

April 21st, 2008 — , UK, Zopa from wiseclerk @ P2P-Banking.com

Zopa UK has announced that it will remove the options to lend for 12, 24 or 48 months and concentrate on lending terms of 36 and 60 months. The changes apply only to money lend through Zopa markets not to Zopa listings.
Why are we making these changes?- Since Zopa began more than three years ago, [...]

Zopa named ‘Most Threatening Non-bank’

April 5th, 2008 — , Zopa, award from tom @ Prosper Lending Review

At the 2008 Retail Banker International Forum, Zopa won the ‘Most Threatening Non-bank Competitor.’ Others nominated in the category included PayPal, Wal-Mart, Vodafone and Prosper. Zopa COO Douglas Doulton said, “This is a very gratifying award to win…

Eleven perspectives on P2P lending

March 17th, 2008 — , Lending Club, Prosper, Zopa, peer to peer lending, risk adjusted return, risk management from tom @ Prosper Lending Review

We recently received a question from a reader who wants to get started P2P lending through Prosper. His situation is similar to many who discover P2P lending and are enticed by the attractive returns and wonder if it is too good to be true. We have col…

Zopa loan volume

March 7th, 2008 — UK, Zopa from wiseclerk @ P2P-Banking.com

As there is no Zopa loan statistics site, it is not possible to track the Zopa growth daily. You have to wait for the instances where Zopa announces milestones.
Today Zopa - in an announcement to celebrate it's third birthday, said:
Since we launched in March 2005, £20 million in unsecured personal loans have been arranged [...]

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Zopa to launch in Japan

March 6th, 2008 — Japan, Zopa from wiseclerk @ P2P-Banking.com

P2P lending service Zopa - already present in the US, the UK and Italy announced it will launch in Japan.
Zopa Japan will be led by Chairman Takashi Yoneda and Managing Director Tatsuya Kuboi, both highly experienced and distinguished technology-based financial services professionals. Zopa Japan further strengthens Zopa´s position as the leader in its field. Zopa [...]

P2P lending Asia

February 29th, 2008 — China, India, Japan, Korea, Zopa from wiseclerk @ P2P-Banking.com

Some news from p2p lending in Asian markets:
Chinese PPdai.com (see earlier coverage) says it has received a first round of funding from Essentia Private equity. The amount was not disclosed.
On February 27th, Zopa's managing director Giles Andrews mentioned in a webchat "I have also been spending time in Asia and hope that we will launch [...]

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Prosper offers $130K for senior software engineer

February 17th, 2008 — Lending Club, Prosper, Zopa, help wanted from tom @ Prosper Lending Review

Prosper is searching for a senior software engineer who is a “good .Net generalist” with experience in C#, SQL Server, Visual Studio, and ASP.NET. This is a full time position with a salary in the range of $100K to $130K and stock options. In their he…

Catching up with Doug Dolton, CEO of Zopa

February 16th, 2008 — Interviews, Italy, Lending Club, Zopa, asia, folks, partners, union, unions, wanting from DebtKid @ Better Rates. Together.

Do you run UK Zopa as well as US Zopa? You must be racking up the frequent flier miles!
I’m responsible for Zopa worldwide, which now includes operations in the US, UK, Italy and now Asia. I suppose one day the frequent flyer miles will come in handy, but for the time being “vacations” usually mean [...]

Peer to Peer Lending makes CNBC

February 11th, 2008 — Investing, Lendingclub, Prosper, Zopa from LendingStats @ LendingStats

I’m currently sitting at my computer and CNBC is interviewing Renauld Laplanche from LendingClub about peer to peer lending. They also mentioned Prosper and Zopa in a text blurb at the bottom of the screen. Prosper should get themselves an interview on CNBC. In other news “AIG said it would need to alter the way [...]

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Zopa CD Rates to DROP again, however…

February 1st, 2008 — Review, Update, Zopa from Jeff & Heather @ My Microfinance

Zopa sent us another email reminding us that this coming Monday they will be dropping the rate on the Zopa CD yet again. They also, wisely enough, mentioned that you can help Heather’s loan achieve a lower payment! So everyone wins! Simply visit the link below if you want to lock in a 4.5% Zopa [...]

Zopa CD Drops to 4.5%

January 30th, 2008 — , Zopa from RateLadder @ Rate Ladder

A few days ago I wrote about the Zopa CD being the best national cd rate at 5.1% after the federal reserve cut the fed funds rate by 75 basis points. RateLadder locked in the 5.1% rate with a 1 year $500 CD.
Alas if you did not take advantage of the 5.1% CD it is no longer [...]

WSJ: 4 tips for Prosper borrowers

January 27th, 2008 — Globefunder, Lending Club, Prosper, Virgin Money USA, Zopa, peer to peer lending, prosper news from tom @ Prosper Lending Review

The Wall Street Journal discusses peer to peer lending in an article published this weekend, Borrowing from Peers. The differences among Prosper, Zopa, Lending Club and Virgin Money are briefly discussed and then the author provides four tips for prosp…

Confirmed My 5.1% Zopa CD

January 24th, 2008 — , Zopa from RateLadder @ Rate Ladder

Two days I purchased a Zopa CD right after the Federal Reserve cut the fed funds rate 75 basis points. I half expected Zopa to renege on the 5.1% that I signed up under, especially since Bank Rate not shows that a 5.1% 1 year CD is now the top yielding 1 year CD in the nation by [...]

Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%

January 22nd, 2008 — , Zopa from RateLadder @ Rate Ladder

I have been stalling. I have said I would try all the P2P lending platforms available to me and up until reading the esteemed bamalucky (I bought a Zopa CD today) I hadn’t pulled the trigger on my Zopa investment. While I suspect our reasons for wanting a Zopa CD are different. Bama’s reasoning behind today [...]

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Continue reading → Fed Cuts Rate 75 Basis Points — I bought a Zopa US CD at 5.1%

Zopa UK Review

January 21st, 2008 — , Zopa from RateLadder @ Rate Ladder

The following is a guest post from plonkee money. She writes about personal finance from a British point of view.
The biggest peer to peer lending site in the UK is Zopa. In fact, I think it might be the only one. Here’s how it works for Limeys.
Paying Money In
You can pay money in via bank [...]

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P2P Lending in Miami Hearld

January 16th, 2008 — , Lending Club, News, Prosper.com, Zopa from RateLadder @ Rate Ladder

The P2P lending buzz is everywhere…
Today it is in the Miami Herald: Anyone can be a banker with peer-to-peer lending
When Walter Kond needed $25,000 to buy a shipment of home-theater seats for his Hialeah company to resell, he didn’t go to the bank. He went online. Kond posted a loan request on Prosper.com and a [...]

P2P Lending In The News

January 15th, 2008 — , Kiva, Lending Club, Microplace, News, Prosper.com, Zopa, loanio from RateLadder @ Rate Ladder

A couple of peer-to-peer (p2p) lending articles came out in major publications over the weekend… Enjoy…
The ChicagoTribue: Peer-to-peer lending helpful, but know rules
Sometimes you have to take matters into your own hands.
At least that’s the mind-set of individuals who lend and borrow money from each other online, known as peer-to-peer lending. In this virtual community [...]

Classifying p2p lending services

January 9th, 2008 — Kiva, Lendingclub, Microplace, MyC4, Prosper, Smava, Zopa from wiseclerk @ P2P-Banking.com

More and more p2p lending services are launching, each catering to different markets and different target audiences. Some derive more features from "ancestors" Prosper or Zopa, some less.
All follow the aim to allow lenders to directly lend money to borrowers without a bank acting as intermediary. This aim is sometimes not pursued strictly to the [...]

My one wish…

January 7th, 2008 — Lending Club, Prosper, Update, Zopa, prosper can kiss my butt from Jeff & Heather @ My Microfinance

With the arrival of 2008 I have come to realize that the one thing I want most is a complete ‘divorce’ from a certain other P2P company (doesn’t rhyme with much, well, Hot Spur comes close) when it comes to a loan I have on the books. Last year I took out a loan to [...]

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One to rule them all!

January 4th, 2008 — Editorial, Kiva, Lending Club, Microplace, Prosper, Zopa, goals from Jeff & Heather @ My Microfinance

We made a major decision yesterday as to what we are going to do on the P2P side this year. We have decided to go with only ONE P2P option in 2008, which will be Lending Club. We looked at the numbers and came to the conclusion that our investment dollars will get the most [...]

Starting Gate for 2008!

January 1st, 2008 — Kiva, Lending Club, Microplace, Update, Zopa, goals from Jeff & Heather @ My Microfinance

Here are our starting numbers for two of our P2P efforts as of end of day yesterday…

Loans- 66
Account Value- $1,653.57 (repayments have started)
2008 Goal- $10,000 in loans @ 10%+ return!

Loans Issued- 105
Historical Loan Value- $2,625
Current Default Rate- 0.00% (nice!)
2008 Goal- $5,000+ in loans!
The new year brings with it some exciting opportunities on the P2P lending [...]

RateLadder 2008 Goals

January 1st, 2008 — , Globe Funder, Kiva, Lending Club, Microplace, Prosper.com, Zopa, goals, loanio from RateLadder @ Rate Ladder

Happy New Year! Here are my goals for 2008 with RateLadder and p2p lending.

Current
Expectation
Goal
Stretch Goal

2008 Year Ending Account Value Prosper
$11,519.59
$15,500
$16,000
$17,000

Prosper Quicken ROI
10.16%
6%
8%
10%

Prosper Lending Stats ROI
3.92%
4%
5%
6%

Prosper Eric’s CC ROI
8.42%
8%
9%
10%

2008 Year Ending Account Value Lending Club
$1,596.76
$3,000
$4,000
$5,000

Lending Club ROI
???
6%
8%
10%

Per Month New Money Added To All P2P Lending Accounts

$300
$500
$700

Average Unique Visitors Per Day
87.22
100
200
500

RSS Feed Readership
143
200
500
1000

I have a general p2p [...]

P2P Lending Predictions for 2008

December 31st, 2007 — Kiva, Lending Club, Prosper, Virgin Money USA, Zopa, peer to peer lending from tom @ Prosper Lending Review

As we get ready to bring in the new year in a couple of hours here are what a few people around the world have to say about P2P lending today…Ten things that will change your future from the Sydney Morning Herald”PEER-TO-PEER LENDING Whether you’re d…

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Aggregating P2P Lending Blogs

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