P2P Lending / NFT Lending Forum

Hey Scott,

I'm sorry about the confusion and thank you for using my service for such a long time.

As you probably know, BlueVestment ceased operations about a year ago. I decided to continue, independently again, and since then I was working on rebuilding most of Interest Radar to make it more compatible with what users need nowadays. In talks with David at Liquid P2P, we realized there was an opportunity in joining forces and leveraging what he had already built.

Thanks!

If you still use IR: what features have you been using?

I'm working on cleaning up what doesn't work anymore and what is now useless (since after 5 years since IR was created, a lot changed in LC), so that I can work again on improving features that are actually valuable. Guidance on this would be appreciated!

My idea is to retire the auto-invest feature, since that space is overcrowded now and I doubt too many services are beating LC's own Automated Investing product, and focusing on portfolio monitoring and auto-sell. I've recently fixed the Collection Log monitoring (if you are signed up for that, you probably noticed the emails coming in again) and I'm planning to make the auto-sell rules more flexible. Anything else that currently exists or that could be added that you think is worth exploring?

If you prefer to reply privately, email me at [email protected]

Thanks!

Because LC is not reporting issued loans until after they release their quarter financials. They used to report new loans on same day, so IR was built on that assumption. Now that the time to report new loans changed (materially) I have to redesign that part of IR. When IR merges with BV we will surely address that.

Thanks!

IR do it all through the LC site, no API is involved anymore. (The API was never used to actually place an order, only to list loans.)
The delay to get your order placed, and therefore more loans are fully funded when that happens, is due to the random queue of IR users each time. I'm working on a solution to that.

Every 15 seconds.
LC imposes a different type of limit: if you query twice in less than 15 seconds (last time I tried), you get the same (stale) results.

LC and Prosper are stepping away from p2p and becoming b2c. Eventually someone will realize that and start the "first p2p lending site since LC and Prosper left". At least the hard part, proving the concept and establishing regulatory requirements, is behind. That means lower ramp up costs and less risk, which translates into lower fees, which in turn will attract more borrowers. LC and Prosper will be more like the banks, while the new site will be more like LC and Prosper were in the past.
Then the whole cycle starts over, unless they're smart enough to stick with a plan this time and implement caps or whatever else is needed to stand ground and remain p2p.

I agree we could have a more private board. A borrower may find the information here good enough to spread the word. Professional borrowers have their forums on the internet too...

https://forum.lendacademy.com/index.php?topic=1034.msg6553#msg88888888Quote"> from: rawraw on April 29, 2013, 04:54:25 AM

Thanks Peter!

I actually never realized that you could only see the subscription price after logging in. I made the Subscription page login-only for the sole reason that I need to know the user that is on the other side in order to credit the access after the payment, not to hide the price.

That said: it's fixed. You can now see the page before you sign up.
http://www.interestradar.com/subscribe" class="bbc_link" target="_blank">http://www.interestradar.com/subscribe

Cheers

What is normally your criteria?

Thanks guys! I really appreciate the support and the good vibe. I'll keep trying to live up to the expectations.

Also, AFAIK, you can't charge off an account unless it's 180 days delinquent. In some cases you may have a payment that brings the account one delinquency cycle up, so the 6 months are not necessarily 6 calendar months after it hit Late 16-30. On top of that, normally the charge off procedure runs only once a month, at the end of the accounting cycle.
In case of BKs, depending on the chapter and the type of debt, you may be able to charge off the account as soon as the court discharges the obligor.

It's a "new" credit attribute, from the borrower's credit report.

In Grace Period notes are tough to price, because we have little data about them. The payment history skips that status almost completely: the billing cycle of the note ends 29 days after it's due date, so it captures either the Late 16-30 days in its final day, or already Late 31-120 days.
I have put together a rollover report in Interest Radar for late and defaulted notes, but there isn't much more we can do other than trust Lending Club's 84% recovery rate for "once in Grace Period" notes (https://www.lendingclub.com/info/statistics-performance.action" class="bbc_link" target="_blank">https://www.lendingclub.com/info/statistics-performance.action).
So, based only in that figure, I'd say the rule of thumb is to price your note at 16% discount or less. Like Anil said, if it sells, statistics are on your side, if it doesn't, then don't lower the price because you're, in average, better off keeping it.

(Unless of course you're going to risk your health and have a heart attack if one of your notes becomes late or defaults. Some people are so averse to loss that they prefer not to play the game. In that case, do what NJ Guy said, let the rule of the free market price it and offer it for lower than the competition is offering.)

https://forum.lendacademy.com/index.php?topic=618.msg2611#msg88888888Quote"> from: SarahV on January 09, 2013, 09:56:48 PM