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Author Topic: Expect Increased Supply of Notes

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Expect Increased Supply of Notes
OP: October 11, 2020, 11:00:00 PM
From Prosper:

In light of recent news that LendingClub is closing its Notes platform effective December 31, 2020, we want to reassure you that Prosper remains committed to growing its retail Notes offering.

We know many of you invest on both Prosper and LendingClub's platforms. We always aim to match the supply of Prosper Notes available for investment with investor demand, and are prepared to increase the supply of Notes in response to additional inflows as investors re-allocate across platforms.
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Expect Increased Supply of Notes
#2: October 11, 2020, 11:00:00 PM
Yeah I don't see any stampede of investors to Prosper. I wouldn't be surprised at all if Prosper pulls the plug on retail within a year or so, especially because the market had a positive reaction to Lending Club's move.

I don't so much mind the lack of a secondary market, I knew when I invested that I was looking at a minimum 5 year payout schedule. My P2P investments are in IRAs so I was thinking about them like annuities. When I am ready to start drawing from them I just quit or slow reinvesting and start the withdrawals.

Now if the companies decide they don't want to maintain the platform that kindof goes to %h*&.
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Expect Increased Supply of Notes
#3: October 12, 2020, 11:00:00 PM
I doubt Prosper has a reason to pull the plug on retail platform yet. They could have done that when they accepted funding from private equity. I am sure they will be watching LC transition to banking closely.

The market is going to reverse it’s opinion on LC as bad earnings report come out next few quarters. LC is going into a very competitive segment with huge players like GS Marcus, Ally, JPM etc. LC has no moat in its new market to attract enough retail funding and be competitive with large players. I will give LC at most 3 years before plugs are pulled and sold for pennies.

from: macroman7799 on October 12, 2020, 09:42:57 PM
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Expect Increased Supply of Notes
#4: November 13, 2020, 12:00:00 AM
Not today "No listings were found based on your search criteria at this time."

That was with the default filter set.
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