RateLadder.com

I was reading an article on bankrate.com about Using a CD Ladder as Parking Locations for Your Emergency Fund. One of the big problems with a CD Ladder is the finite number of times you can withdraw money without a fee. Another big problem is length of time it takes to build a fully extended ladder. These problems are mitigated with Prosper.com so I thought I would review their $50,000 dollar example within the framework of my standing order strategy and see the results.

First let’s quickly examine how Prosper.com differs from the standard CD ladder. Prosper.com is a series of micro loans made directly to other individuals. These loans are fully amortized 3 year loans. Each loan has it’s own origination date, payment date, interest rate, and expected ROI. While the loans are not individually as secure as the FDIC guaranteed CD, collectively the risk is very small if proper care is taken when selecting loans.

One other thing to note, Prosper.com loans are 3 year terms and I will be comparing them to the Bank Rate 5 year CD ladder. This will cause a 2 things… The first, the Prosper.com 3 year ladder will have more money available (for withdraw or reinvestment per year than the 5 year ladder). The second, interest rates available for 5 year CDs are slightly higher than 3 year CDs, but since the Prosper.com loans have such a much higher interest rate than CDs the affect will not be noticed.

Ok…

At today’s rates Bankrate estimates that a $50,000 CD Ladder would have an a value $64,677 with access to $2500 plus earnings every 3 months with interest rates between 5.25%-5.46%. So in 5 years you have increased $14,677 or 29%.

My current average interest rate is 15.85% and currently I have no defaults. I fully expect some defaults, but with an average credit weighting of B+ and an expected ROI of 14.12% I think using a conservative 13% for this example is appropriate.

Account ValueMonthly Cash AvailableStart Year 1$50,000$1,605Start Year 2$56,941$1,827Start Year 3$64,845$2,081Start Year 4$73,846$2,370Start Year 5$84,096$2,699Start Year 6$95,770$3,073

Even though Propser.com is continually making cash available let’s compare the 3 month available cash from Year 1 of Prosper ($4,815) to the CD Ladder ($2500). Prosper has $2,315 more or 93%.

At the start of year 6 the prosper account value is $95,770 for an increase of $45,770 or 92%. Compared with the $14,677 increase of the CD Ladder the Prosper account generate $31,093 or 312% more!!!

There are some caveats, but the numbers alone are startling. One, you cannot get access to your money early, with a CD you could choose to pay an early withdrawal penalty, not so with prosper. Two, the ROI that I used was not guaranteed, my actual rate may be higher or lower. Three, you cannot get money into loans on demand as you can with CDs, it takes time to get money into loans.

I continue to be enamored with my prosper.com experience. I love the interest rates and the lack of a middle man. Banks make too much money. I fully expect to have my own emergency fund in prosper eventually. Why am I waiting? See my next post.

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Другое Превосходное Email от туберкулеза на IRR | фильм в P2P кредитования, одноранговой кредитования, между людьми Кредитование

I saw your last comment and wanted to provide you with an Excel sheet showing the implications of not counting the principle payments as cash flows when they are received. Я видел вашего последнего замечания и хотела бы представить вам Excel листа с указанием последствий, не считая принцип выплат, как денежные потоки, когда они были получены.

In this sheet I have included a situation where there is a hypothetical Prosper account that is made up by one loan that will be paid in full and on time. В этом листе я включил ситуации, когда есть гипотетическая Проспер внимание, что включает в себя один кредит, который будет выплачиваться в полном объеме и вовремя.The calculations would work the same with a portfolio of many loans. Расчеты будут работать же с портфелем много кредитов.The assumptions that can be changed (loan amount and interest rate) is in blue font. Допущений, которые могут быть изменены (сумма кредита и процентная ставка) является синим шрифтом.

The sheet shows the hypothetical loan and how the amount outstanding declines over time as the principle is paid off. Листа свидетельствует о гипотетических кредит и каким образом сумма задолженности снижается с течением времени, как принцип погашается.It also shows how the Prosper account balance for the lender would change over time as interest and principle get paid. Оно также показывает, как Проспер платежного баланса за заимодателем будет меняться с течением времени, интерес и принцип получения оплаты.In addition, it shows what the correct XIRR would be for the full term (it would be the same for each and every period for the durating of the loan as well) and what the XIRR calculation would show if it was calculated without counting the principle payments as the are received, but rather include them as part of the account balance (which I think is what you are suggesting in you last comment on your site). Кроме того, она показывает, что правильный XIRR бы за полный срок (он будет одинаковым для всех и каждого периода durating от суммы кредита, а) и то, что XIRR расчетов показывают, если бы он был рассчитан без учета принципа платежей, как будут получены, а включать их как часть счета (который я думаю, это то, что Вы предлагаете вы в последний комментарий на сайте).

The conclusion from the examples I have included in the Excel workbook is that if the principle payments are not counted when they are received, the XIRR will look like it is declining over time. Вывод из примеров я включил в книгу Excel заключается в том, что если принцип выплат не засчитывается, когда они будут получены, XIRR будет выглядеть так оно уменьшается с течением времени.This is incorrect, since it does not reflect that the principle payments are available to reinvest. Это неправильно, поскольку он не отражает, что принцип выплаты предоставляются для реинвестирования.If the principle payments are not counted as cash flow when they are received, the XIRR will implicitly assume that the paid principle just sits in the account balance earning zero return until the loan is fully paid off. Если принцип выплаты не учитываются как денежные потоки, когда они будут получены, XIRR будет косвенно предполагать, что выплатили принципе просто сидит на счету нулевой баланс зарабатывают возвращаться до тех пор, пока кредит полностью погасил.This is not reasonable to me. Это не является целесообразным мне.I don’t understand how the account balance at the end (for XIRR purposes) could ever go negative by deducting the principle payments received, if you don’t assume defaults, since the amount you deduct would be exactly equal to the principle implicitly included in the ending account balance (either as cash or as loans outstanding). Я не понимаю, как остаток по счету на конец (для XIRR целей), может когда-либо негативных идти путем вычитания принцип выплаты получены, если вы не думайте, по умолчанию, поскольку сумма, которую вы вычитать будет точно совпадает с принципом косвенно включены в финале счета (либо в виде наличных средств или как сумма непогашенных займов).

Btw, I am not bothering you with this to prove a point. Кстати, я не bothering вам это доказать точку.I am potentially looking to become a lender at Prosper (whenever they actually get around to approving me. Their customer service is severely lacking) and going through these return calculations is a very good exercise for me. Я потенциально перспективных стать кредитора на Проспер (когда они действительно получите примерно на утверждении меня. Их клиентами серьезно хватает), и собирается вернуться через эти расчеты очень хорошее мероприятие для меня.I always compare all my investment alternatives on a risk-adjusted XIRR basis, since it is (IMO) the best way to do it, assuming that there are no capital constraints involved, but that is a different topic. Я всегда сравнить все мои инвестиционных альтернатив по риск-скорректирована XIRR основе, поскольку она является (ИМО), лучший способ это сделать, исходя из того, что Есть нет капитала, однако, что это разные темы.

As always, I welcome comments. Как всегда, я приветствую комментарии.

My Prosper Internal Rate of Return Update (End of Jun 07) = 5.75% | P2P Lending, Peer to Peer Lending, People to People Lending

This is a RateLadder only IRR update. (An IRR lender “game” update is in the works.)

Here is my permanent tracking page: http://rateladder.com/my-prosper-irr/

My Prosper IRR is defined as:

Monthly cash flows with one extra month using the current account value minus any loans 1 month or more late.

Current Account Value (used as interest earned in the last month) = $7,692.72

Current One Month or More Late Loan Values (used as monies added in last month) = $333.01

I use ProProsper to Calculate Prosper IRR. Excell’s XIRR function is also an option.

Current IRR = 5.75%

DateIRRDescription1/31/0712.21%Tracking Update. XIRR Restart.3/1/0712.86%Tracking Update.4/1/073.33%Tracking Update.5/1/073.57%Tracking Update.6/1/07(0.38%)Tracking Update.7/1/075.75%Tracking Update.DateCash FlowReason7/7/06($200.00)Transfer To Prosper9/19/06($200.00)Transfer To Prosper10/10/06($200.00)Transfer To Prosper10/12/06($400.00)Transfer To Prosper10/13/06($36.31)Transfer To Prosper10/17/06($200.00)Transfer To Prosper10/23/06($246.58)Transfer To Prosper10/30/06($148.28)Transfer To Prosper11/6/06($45.00)Transfer To Prosper11/7/06($600.00)Transfer To Prosper11/8/06($49.94)Transfer To Prosper11/17/06($435.49)Transfer To Prosper11/30/06($300.00)Transfer To Prosper12/27/06($300.00)Transfer To Prosper1/25/07($150.00)Transfer To Prosper2/1/07($225.00)Transfer To Prosper2/21/07($25.00)Transfer To Prosper2/23/07($25.00)Transfer To Prosper3/22/07($200.00)Transfer To Prosper3/27/07($200.00)Transfer To Prosper3/27/07($70.00)Transfer To Prosper3/29/07($200.00)Transfer To Prosper4/5/2007($111.09)Transfer To Prosper4/6/2007($200.00)Transfer To Prosper4/11/2007($200.00)Transfer To Prosper4/17/2007($25.00)Transfer To Prosper4/18/2007($75.00)Transfer To Prosper4/19/2007($25.00)Transfer To Prosper4/20/2007($25.00)Transfer To Prosper4/23/2007($25.00)Transfer To Prosper4/24/2007($25.00)Transfer To Prosper4/25/2007($75.00)Transfer To Prosper4/26/2007($25.00)Transfer To Prosper4/27/2007($25.00)Transfer To Prosper5/2/2007($25.00)Transfer To Prosper5/3/2007($25.00)Transfer To Prosper5/4/2007($75.00)Transfer To Prosper5/7/2007($25.00)Transfer To Prosper5/8/2007($25.00)Transfer To Prosper5/9/2007($25.00)Transfer To Prosper5/10/2007($25.00)Transfer To Prosper5/11/2007($75.00)Transfer To Prosper5/18/2007($75.00)Transfer To Prosper5/21/2007($25.00)Transfer To Prosper5/22/2007($500.00)Transfer To Prosper5/25/2007($75.00)Transfer To Prosper6/1/2007($25.00)Transfer To Prosper6/6/2007($25.00)Transfer To Prosper6/12/2007($50.00)Transfer To Prosper6/13/2007($25.00)Transfer To Prosper6/14/2007($25.00)Transfer To Prosper6/15/2007($25.00)Transfer To Prosper6/18/2007($25.00)Transfer To Prosper6/19/2007($25.00)Transfer To Prosper6/20/2007($25.00)Transfer To Prosper6/21/2007($25.00)Transfer To Prosper6/22/2007($25.00)Transfer To Prosper6/25/2007($25.00)Transfer To Prosper6/26/2007($25.00)Transfer To Prosper6/27/2007($25.00)Transfer To Prosper6/28/2007($25.00)Transfer To Prosper6/29/2007($25.00)Transfer To Prosper6/30/2007($500.00)Transfer To Prosper7/1/07$7,692.72Current Account Value7/1/07($333.01)1 Month or More LateBlog Traffic ExchangeRelated PostsBlog Traffic ExchangeRelated WebsitesOnline StoresIf you liked this article, vote for it on del.icio.us and stumbleupon.

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Pensioner Debt Sale Results | P2P Lending, Peer to Peer Lending, People to People Lending

Pensioner the former #1 lender on Prosper by amount invested (over $750K at peak) has been generous enough to share his debt sale results with RateLadder and my readers. Thank you Pensioner. This is important information for the community at large.

All of Persioner’s loans that have been sold were done so via the May 2007 debt sale (he has also had 2 loans go bankrupt.) Prosper’s reporting of the debt sale results are here: Default Sale History and reprinted below.

Date /
Loans soldPricing (% of principal balance)Dec 2006
51 loans sold

  • 27 – 30%: Homeowners with any credit grade
  • 15 – 18%: Non-homeowners with a credit grade of D and above
  • 3.0 – 3.7%: Non-homeowners with a credit grade of E and HR

May 2007
294 loans sold

  • 16 – 19%: Homeowners
  • 2.4 – 3.3%: Non-homeowners

It looks like Prosper’s own reporting is slightly low. Pensioner had 1 loan sell for 21.8% However, most of his loans fall into the 2.4%-3.3% bracket.

College student in needorigination10/26/06sale05/31/07Credit GradeDDTIN/AHomeownerNoamount$2,500.00rate28.50%principal repaid$114.04sale amount$70.86% paid3.0%repositioning myself to prosperorigination10/03/06sale05/31/07Credit GradeEDTI103%HomeownerNoamount$3,549.01rate29.00%principal repaid$125.94sale amount$100.45% paid2.9%Urgent Need For Help From Lenders! origination8/28/06sale05/31/07Credit GradeEDTI8%HomeownerNoamount$4,146.73rate28.00%principal repaid$191.64sale amount$118.73% paid3.0%Business Expansion origination8/21/06sale05/31/07Credit GradeCDTI36%HomeownerYesamount$8,450.50rate25.00%principal repaid$1,637.77sale amount$1,482.56% paid21.8%TO ALL LENDERS THAT FUNDED MY LOAN origination8/10/06sale05/31/07Credit GradeEDTI12%HomeownerNoamount$7,450.00rate28.00%principal repaid$475.91sale amount$205.18% paid2.9%Expanding Businessorigination8/406sale05/31/07Credit GradeDDTIN/AHomeownerNoamount$6,000.00rate26.50%principal repaid$488.37sale amount$151.72% paid2.8%Import and Distribution of Apparel origination7/28/06sale05/31/07Credit GradeDDTI13%HomeownerNoamount$4,634.75rate24.00%principal repaid$478.65sale amount$109.98% paid2.6%Blog Traffic ExchangeRelated PostsBlog Traffic ExchangeRelated Websites

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Prosper Update Enhances the Legal Enforceability of Promissory Notes | P2P Lending, Peer to Peer Lending, People to People Lending

There was a Prosper update last night. Nothing that was completely unexpected… The one thing that struck me as interesting was that borrower’s are now required to sign the promissory notes themselves… Before the process had been that Prosper was authorized to sign on their behalf… The part that struck me as interesting was the final paragraph…

The bold part caught my attention (I added the bold for emphasis) as I am on the loans that are part of the legal test. Related or just coincidental use of the root legal? More info please. Update: Ed Giedgowd Chief Compliance Officer and General Consul of Prosper provided an update on borrower sign loans.

Here the highlights from blog post:

  • Portfolio Plan Bids can now be adjust as an average of all the bids in the plan
  • Self employed and non verifiable income borrowers will now have DTI displayed as Not Calculated
  • Income Range changed to Stated Income and now show regardless of whether it is verifiable or not
  • More bankruptcy data is now being shown including chapter and filing date
  • There is a messaging change for those lenders that wish to bid on negative ROI listings.

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LazyMan and the Early Days of Prosper Lending | P2P Lending, Peer to Peer Lending, People to People Lending

Lazy man gives a frank and honest assessment of his early days lending on Prosper: Prosper Mistakes I’ve Made.

Personally I took a far more conservative path to my lending strategy and I have done far better with my early loans. I am not saying that I was any smarter about my loan selection, I was simply more cautious (risk averse). My portfolio only just added an E a couple of weeks ago (I have no HR or NC). And the large bulk of my loans are in AA-C.

RateLadder.com Loan Distribution

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Loanio is Expecting Launch within Days | P2P Lending, Peer to Peer Lending, People to People Lending

I have been having an ongoing email conversation with Michael Solomon the CEO of Loanio for quite some time… In fact, he originally bought advertising on this blog over a year ago. While still hesitant to give an exact date, he told me in no uncertain terms that Loanio is in the final stages of preparing for launch and that both “final security audit and legal compliance audit” are the final hurdles to launch and both are wrapping up.

You may recall I mentioned seeing Loanio at Finovate in SF. To me their most interesting feature is the possibility a co-borrower for bad credit borrowers. I am interested in seeing the impact of the co-borrower on the fundability of bad credit loans in the peer to peer marketplace.

Tom at Prosper Lending Review has some screen shots and a writeup about the inside access he was given.

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2009 May | | P2P Lending, Peer to Peer Lending, People to People Lending P2P Lending News, Information, Borrowing and Lending Strategy

IOUSOS by Gloubefunder presented at Finovate.� IOUSOS is a medical bill collections portal.� I was a bit surprised at first, but I suppose if you find a willing partner and you can provide the service then why not.� It is an interesting idea.

My only question was if this become wildly successful won’t it become standard practise for people to wait until IOUSOS has their account?

…� I just got the following email from them:

Please feel free to visit IOUSOS� (www.iousos.com), the revolutionary online medical bill clearinghouse, where in less than 3 minutes, patients can register, accept a discounted medical bill from their provider, pay, and move on with their life.�Last�week, IOUSOS� was in San Francisco as one of twenty-eight financial technology companies selected nationally to demo at the Finovate conference (www.finovate.com – � a link to our live demo will be available soon!). �Here is a recent article in the Wall Street Journal about Finovate and IOUSOS�:�http://blogs.wsj.com/wallet/2009/04/28/finovate-startup-2009-preview/.��Healthcare providers, medical billing companies, financial institutions and other consumer organizations are looking to IOUSOS� as a new, low cost, compassionate way to help manage the consumer crisis in unpaid medical bills, now totaling more than $200B each year, and rising fast in these challenging economic times. Helping healthcare providers and their patients clear up medical bill problems offers a significant benefit to all of us, slowing down the increase in home foreclosures and the more than 500,000 consumer bankruptcies each year that are caused by unpaid medical bills.� More than 20 healthcare providers and other partners are joining our network, with additional caregivers joining each day.�To accelerate the growth of the IOUSOS� healthcare provider network, we are announcing the launch of a national sales associate program to expand relationships with new caregivers who are increasingly struggling with the financial toll of unpaid patient bills, inefficient technology and tarnished reputations from harsh patient bill collection practices. ��IOUSOS� helps both patients and healthcare providers eliminate medical bills with no up-front costs.� Please feel free to review more details about the Associate Program at http://www.globefunder.com/files/IOUSOS_AssociateProgram.pdf. �You can also learn more about IOUSOS� at http://www.globefunder.com/Files/IOUSOS_Product_Summary.pdf.�We look forward to discussing further how you can join with us to reduce the crisis in medical debt affecting more than 21% of Americans today.� Let�s make an impact!���Blog Traffic ExchangeRelated Posts

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Kiva Forum | P2P Lending, Peer to Peer Lending, People to People Lending

P2P No Bank has launched independent forums covering all p2p lending sites — including Kiva.

Kiva lets you connect with and loan money to unique small businesses in the developing world. By choosing a business on Kiva.org, you can “sponsor a business” and help the world’s working poor make great strides towards economic independence. Throughout the course of the loan (usually 6-12 months), you can receive email journal updates from the business you’ve sponsored. As loans are repaid, you get your loan money back.

But they don’t have a forum where individuals can discuss their Kiva experience and the dos and don’ts of Kiva lending. Join the discussion. Registration is free. Save the world. http://www.p2pnobank.com/forum Register: Here is the link: register

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2007 September | | P2P Lending, Peer to Peer Lending, People to People Lending P2P Lending News, Information, Borrowing and Lending Strategy

After a comment from a reader (Millionaire Mommy Next Door), I decided to try out Kiva.

Wow was that easy. Signed up. Found a loan. Added my $25 to the loan via paypal (plus a 10% donation to Kiva of $2.50). Start to finish 15 minutes.

I choose to loan to a Samoan. Being a tall large person I have always felt an affinity for Samoans. Like maybe I am a long lost relative or more likely a kindred spirit…

Here is my loan (once it fully funds the banner below will show another random listing in need) — here is a permanent link to my loan:

Here is my Kiva Lender page: RateLadder on Kiva

I would love to discuss Kiva in more detail on the P2P No Bank Forum, come join the discussion. Registration for the forum is free. Here is the link: register

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