My P2P Lending Returns (13.02%) – Lending Club June 2014

ryankayakI apologize for the delay in my second quarter 2014 returns as the summer has changed some of my priorities.  When you live in Wisconsin, it is important to take advantage of the nice weather while it lasts.  My returns have slipped .85% from the last time I checked in April 2014.  Since I have used FOLIOfn to buy notes for the penny note strategy, I rely on XIRR in order to calculate my returns.  My strategy has remained about the same except for the small hiccup which affected P2P-Picks.  Instead of letting my cash sit idle, I simply created a higher volume filter in Nickel Steamroller.  I still keep an eye out for notes on FOLIOfn, but it is time consuming and I already have about $2500 worth of notes purchased. [Read more...]

Must See LendIt Videos for Retail Peer Lending Investors

Earlier this week, Peter over at Lend Academy posted that the videos from LendIt 2014 are now available. There were a few of the sessions that I missed and I wanted to highlight videos that retail Lending Club/Prosper investors may be interested in. Enjoy!

Note: BlueVestment did give a presentation, but I am unable to find it in the YouTube channel.  If you happen to see it – please send the link my way.

LendingRobot

Nickel Steamroller

PeerTrader

P2P-Picks

PeerCube

SoFi Loans – FAQs for Refinancing a Student Loan

SoFiIf you haven’t heard of SoFi (short for Social Finance), it is a peer to peer lending company tailored to refinancing student loans.  For this blog post, I am focusing on the borrower side of SoFi since I believe in destroying your student debt. SoFi loans are a great way to accomplish this much faster.  I reached out to the folks at SoFi to get some questions answered that potential borrowers might have.  In addition, if you are approved and your loan gets funded, you will get $100 by using my referral code. This site will also receive a small payment at no additional cost to you.  Read below to get your questions answered and learn more about SoFi loans.  [Read more...]

Upstart Loans Review – Benefiting Borrowers with Unique Underwriting

UpstartLogoI recently had the chance to talk to Dave Girouard, who is the former President of Google Enterprise and is now the founder of Upstart – a company that is taking a unique approach to peer to peer lending. Upstart is made up of 15 employees, half of which are from Google.  Traditional and other peer to peer unsecured loans focus on credit score when it comes to determining the probability of loan repayment.  Upstart goes beyond the credit score.  [Read more...]

Lending Club Data Changes Cause 3rd Party Tool Headaches

Screen Shot 2014-06-20 at 5.31.52 PMThere has been quite the discussion brewing over on the Lend Academy Forum about a recent change from Lending Club. I think it’s important to point out this recent change as they affect some of the third party tools that I feature on the blog. In a nutshell, the change is that instead of tools being able to constantly get up-to-date data from the CSV file right at release time, it is now only updated once every minute.  For those that don’t know what a CSV file is, it is simply a text file which includes organized data – in this case all of the available loans. You can read other forum member’s thoughts here.  What does this mean for third party tools? In the case of P2P-Picks – a lot.

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Penny Notes: A Detailed Look at an Innovative Strategy for Lending Club FOLIOfn Investors

Note: This is a guest post from New Jersey Guy, who currently only invests through FOLIOfn – the secondary market for Lending Club.  He implements several FOLIOfn strategies, some of which he outlined in his last posts (4 part series) on Peer & Social Lending.  This is a continuation of the post from Lend Academy about his penny note strategy.  Below New Jersey Guy gives a little more detail into this particular strategy.  Please keep in mind that this information is not investment advice,  just the opinion and perspective of one investor.  Thanks to New Jersey Guy for another fantastic guest post!

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Q & A with NoteX360 – Execution Services for the Alternative Lending Market

NoteX360LogoI reached out to Simon Hermiz who is the co-founder and CEO of NoteX360 to learn more about their offerings.   The easiest way to understand NoteX360 is that they are an aggregator and execution provider for the alternative lending market. Thus, family offices and institutional investors come to them with credit models and filter strategies. NoteX360 executes on behalf of clients using their low latency ordering management system. [Read more...]

Prosper Automated Investing with Nickel Steamroller

I recently got to a point financially where I was comfortable investing with Prosper.  I wanted to be able to compare the two platforms as well as diversify my peer to peer lending investments across both Lending Club and Prosper. As an added bonus, you get to follow along as I report on my returns and learn how I invest with Prosper.  Since I have no interest in hand selecting loans, it was a no brainer for me to automate with Nickel Steamroller – which is currently free. If you’re interested in automating your investing with Nickel Steamroller, please be sure to contact them and let them know I sent you.  They also offer automation with Lending Club and in my opinion are the number one resource for peer to peer lending analytics. In my next post, I plan to outline more in detail my thoughts on investing with Prosper, but for now here is my latest video on automating my Prosper investing with Nickel Steamroller!

You can check out and subscribe to the Peer & Social Lending YouTube channel here

Lending Club Automated Investing vs. Third Party Automation

getinlineLast week, Lending Club announced that their form of automation formerly known as Lending Club Prime is now simply called “Automated Investing.”  I’ll start by stating that I have never used Lending Club Prime or their version of Automated Investing.  However,  I think it is important to write about the major differences are between Lending Club’s Automated service and the third party tools that I have used.  I encourage you to share your thoughts in the comments if I have missed or overlooked anything.

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My Experience at LendIt 2014

#LendIt2014 swag

#LendIt2014 swag

I recently got back from my trip to San Francisco for LendIt 2014.  It was my first trip to California and I enjoyed everything about my visit. I first have to thank Peter and his team at Lend Academy and LendIt for the opportunity.  Without their generosity to allow me to volunteer, it wouldn’t have been feasible for me to attend.  Enthusiasm filled both rooms at the Hilton over the course of the two days. It is incredible to think how far the industry has come since I started following it last year.   [Read more...]