This is a guest post from Suretize. Suretize is about making money from money. For individuals, it provides ‘starter’ information about how to maximize the money they already have. They have created the below timeline and post to outline the history of peer to peer lending. [Read more…]
Archives for October 2014
If you’re an investor in Lending Club, you likely recently received an email about Lending Club’s new REST API. If you aren’t familiar with the term API, it basically allows third parties to create a computer program that connects to your Lending Club account. The most important function is the ability to submit investment orders on your behalf, but the new API will allow these third parties to access additional data. Regular readers know that I’m a big proponent of automated investing - in particular those services offered by third parties. The changes to the new API will have a positive effect on the third party tools as well as your user experience. Below, I provide some additional thoughts as well as those from a developer at LendingRobot. [Read more…]
Q3 of 2014 continued the trend of returns over 10% in both Prosper and Lending Club. I now have nearly $22,000 invested between Lending Club and Prosper. I recently stopped adding to my Lending Club account, which means I’m continuing to increase my average age a lot faster. (It’s currently at 7.8 months even though I’ve been investing for more than a year.) Besides small deposits to my Prosper account, I’m not making anymore substantial additions to my allocation to this asset class. This is simply due to the fact that I want to keep my allocations reasonable across all of my investments. Now to the fun part… [Read more…]
The Lending Club collection log is full of standardized updates to let you know the status of the note you purchased. Below you will find a list of all the entries that I have seen. If I am missing any, please feel free to leave them in the comments and I will add them to my list. Additionally, you can read about how Lending Club deals with delinquent borrowers and the regulatory guidelines for dealing with borrowers. [Read more…]
I’ve decided to bend the rules a little bit and focus on a non-p2p lending company called LightStream that piqued my interest with the goal of helping out the borrowers who visit this site. Just how p2p lending allows borrowers lower rates from credit cards, LightStream may offer better rates to high quality borrowers. The company offers rates that start at just 1.99%.
In mid September, Lending Club added a returns section titled ‘Traded Notes’ for investors. This feature gave all but the most serious traders an accurate number of what their returns are with FOLIOfn (Returns aren’t calculated over 100%). This is a welcome change as up until this point, you were on your own calculating returns - which is no small task. Since both traded notes and notes bought at issue are combined in your account value, tracking every note was necessary to calculate returns. Back in June, I featured a guest post from New Jersey Guy and his Penny Note Strategy. (You can see all of the content he has contributed to PSL here) I have purchased over 200 notes using this strategy and although all notes aren’t completed, I have a more accurate idea of my returns and whether I should continue buying notes using this strategy.