P2P Lending / NFT Lending Forum

I listed 10 AAs a couple days ago and they all have bids from 2020longterm or payment-wonder2.  All the notes have at least an 80 point credit drop.

For sure this is too obvious...somewhere you have set the values for
                txtSettingsUsername.Text and txtSettingsPassword.Text
equal to your username & pw, right?

https://forum.lendacademy.com/index.php?topic=2130.msg20844#msg88888888Quote"> from: hoggy1 on July 05, 2014, 10:27:17 AM

"Crowd Lending"

Even if some loans are in a whole loan pool, the collection of all loans on a platform are funded by a Crowd.

At least one sane lender uses Prosper because he lives in a no-LC state.

https://forum.lendacademy.com/index.php?topic=2012.msg18073#msg88888888Quote"> from: rlv99 on March 09, 2014, 11:01:51 AM

LC has no incentive to price every loan at the "perfect" interest rate.  Almost all of their listings fill anyway.

Lenders has a financial incentive to select notes with the most attractive interest rate given the known risks.

People and organizations with financial incentives, talent and the willingness to work hard (Lend Academy folks) will almost always outperform those with no incentive (LC).

Do you get a lot of buyers for the 50%+ markup?

Not just the mix of loans, but the average interest rate by Prosper grade has dropped significantly.  This will pull down average returns in the future.

In Psych101 we learned about common experiments.  Give the subject a reward for performing some task.  After a while, stop giving the reward.  See how long the subject continues to perform the task before they wise up.

It is now 9:29 and I am still hitting refresh on my browser.  Most chimps are smarter than that.

https://forum.lendacademy.com/index.php?topic=1674.msg13888#msg13888">Quote"> from: bobeubanks on October 29, 2013, 11:26:34 PM

What people don't seem to realize is that any brick and mortar business must price its products and services high enough to cover cost of the physical plant and the labor to run it.  A drive-thru coffee shop charges $2.00 or more for a 25c cup of coffee in order to cover expenses and still make a profit.  Yet no one write inflammatory articles claiming they are screwing their customers.

PayDay lenders have the same overhead as other brick and mortar businesses, except that they also have significant bad-debt losses.  It's as if every 3rd or 4th customer drove away without paying for that coffee.

Of course, it is troubling that PayDay customers are almost all poor to begin with, and in the long run, PayDay loans aren't going to solve their money problems.   But PayDay Loan customers clearly see it as a worthwhile service.

Disclosure:  I have a friend who used to manage a PayDay Lending store.  In addition to originating loans, he would spend a large portion of each day doing collections - which was essential for his store make its numbers.  So he needed to be proficient at collections and up-to-date on legal collections methods on top of everything else.

https://forum.lendacademy.com/index.php?topic=1561.msg12344#msg12344">Quote"> from: Peter on September 13, 2013, 12:31:01 PM

♫ Where have loan descriptions gone, since last Monday?
    Where have loan descriptions gone, we need them now.
    Where have loan descriptions gone, gone from Prosper, every one.
    When they bring them back, when will they bring them back?  ♫

Apologies to Dylan.  Listings posted to Prosper starting Monday, 9/9/13 do not show a description field.

Maybe it's  a software glitch, or maybe it's by design.  Either way, I'm not getting up at 4:43 AM to check Prosper for new listings.  New listings were added last night at 8:01 PM, Then this morning at 4:43 and 5:47.