P2P Lending / NFT Lending Forum

Today I view my monthly statement from Prosper and I see I lost money from the line item "Principal adjustments".  The statement gave no explanation why I lost money, nor did it explain what a "Principal Adjustment" even is (in the context of Prosper investing).  Google offered no solid explanation either.

Any answers out there?

Hey Peter,

When I click on the link "Show unread posts since last visit." on your forum I get the following result:

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I noticed most banks offer unsecured loans and lines-of-credit up to $50k.  Why doesn't Lending Club or Prosper off a loan up to this amount? I wonder if they will in the future?  Anybody heard anything on this topic?

Peter, the last update I have seen on your blog with regard to states available for borrowing/investing is a year old:

http://www.lendacademy.com/investing-lending/which-states-are-open-to-lending-club-and-prosper-investors/" class="bbc_link" target="_blank">http://www.lendacademy.com/investing-lending/which-states-are-open-to-lending-club-and-prosper-investors/

Do you have a page somewhere else on your site that keeps a current running list of all states that LC & Prosper now support for borrowers & investors?

Haven't heard anything about it.  According to the document, what are they being sued for?

What was especially surprising to me about the announcement was how it reflected a possible shift in lending choices. Folks with A & B credit scores would traditionally be able to borrow from a bank and/or liquid accounts that offer them competitive interest rates (such as credit cards or lines-of-credit).  To see people with higher credit profiles choose p2p lending when in fact this demographic has more options is pretty exciting. 

I found out why Lending Club takes four business days to process a deposit/transfer of new money into one's account before the money is available for investing. As some of you may know, the deposit is instant with Prosper so I inquired with my LC rep as to why it takes so much longer with them.  Below is the response I received:

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Prosper creates an incentive for repeat borrowers by reducing interest rates on the subsequent loans.  I would imagine this creates a peripheral incentive to payoff previous loans early.   Does anybody know if LC offers the same incentive for repeat borrowers?



https://forum.lendacademy.com/index.php?topic=145.msg431#msg88888888Quote"> from: thezinfan on March 09, 2012, 10:46:30 AM

I count the "Instant Transfer" feature as one of the main advantages their platform has over LC.  I don't know why LC hasn't caught up yet...

Notice I said "one of the main advantages" and not "the biggest advantage".  Anybody want to take a guess on the biggest advantage Prosper has over LC?   (as if we don't harp about it enough already)     https://forum.lendacademy.com/Smileys/default/cool.gif" alt="8)" title="Cool" class="smiley" />



https://forum.lendacademy.com/index.php?topic=121.msg439#msg88888888Quote"> from: Peter on March 13, 2012, 07:52:35 PM

WES, I have contacted Prosper on multiple occasions over the past few weeks and I keep getting "it will be out tomorrow" or "it will be out soon" and both statements never come to fruition.  As an institutional investor, our firm cannot perform our month-end performance measurements without reconciling against all account statements - so this is a major pain for us as well.  Suffice it to say I know where your frustration is coming from.

Peter, I see what WES is talking about here:

http://www.prosper.com/help/topics/lender-debt_sale_history.aspx" class="bbc_link" target="_blank">http://www.prosper.com/help/topics/lender-debt_sale_history.aspx

Over 700 bad debt notes sold in the month of December 07 alone - and then everything stopped???

Any word from Prosper on this?

I have used it and enjoyed the nice bonus it provides, however I only recommend buying a position in the loan if the rest of the information meets your existing criteria/filters.  Don't reduce your standards in order to get the 3 - 4% bump because it is only a one time payout whereas you are "marrying" that borrower for 1 - 5 years.  Overall, if the loan does meet your criteria, the cash back bonus can be a nice hedge against future defaults reducing a little bit of portfolio risk.  I wish LC would do the same.

https://forum.lendacademy.com/index.php?topic=70.msg142#msg88888888Quote"> from: Pebbles on September 22, 2011, 09:35:35 PM

Hello Everyone,

My name is Chris and I am an institutional investor at Lending Club (and now) Prosper.  My previous screen name at prosper was "diligent-peace9" but has been changed now that I figured out how to do it.    https://forum.lendacademy.com/Smileys/default/cool.gif" alt="8)" title="Cool" class="smiley" />   I oversee a fund that invests in a variety of things, and "member dependent notes" are gaining an increased position in our fund.


Peter,  I really appreciate the work you have done both with your blog and with this forum.  I am getting to where I check your blog daily.  Keep up the good work!   https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />


Looking forward to some good discussions,
Chris