Reconsidering Manual Bids | P2P Lending, Peer to Peer Lending, People to People Lending

I am unhappy with the recent changes to the auto funding loans. By warning borrowers away from them, there have been none that have match my SO criteria since the Prosper Days Changes. I won’t setup SO on non auto funding loans due to the lack of a time left in listing criteria.

So I have setup a single saved search with my extended credit requirements and credit grade ladder looking for non auto funding loans. (I really should have 10 to match my non auto funding standing order strategy, but I don’t have time for that.) The saved search returns the listings in time remaining order. My initial list had 42. I bid on several (til my account ran out of money) using bid ladders. I almost certainly will not get all of my bids. BTW, there are still quite a few listings without the new extended credit data. So I haven’t yet added the credit utilization. Once the pre-Prosper Days listings have cleared the system I can add that filter.

For me, other than as exploring the features I really don’t have time for manual bidding. I am in awe of the amount of time it must take to be a completely manual bidder. I hope they add a time remain criteria for standing orders.

I have a killer (useful and tactical) lender tool that as soon as the live API is made available I will begin developing. I am still trying to decide how to monetize and I would like to ask my readers… Would you rather have an email full of ads (to be clicked on when appropriate) or pay $5 per month? I would rather get $5 per month (bird in the hand), but I think I might make more money giving away the tool and monetizing via ads.

Blog Traffic ExchangeRelated Posts

  • Another Listing Cancelled by Pre-Funding. Thank you!!!Another listing on which I was a winning bidder was cancelled during the pre-funding verification. While, I am trying to get money into play, I always appreciate Prosper’s due diligence in this area. Consequently, I now have $100 available to bid on loans. My standing orders fired as soon as the……
  • 1 Month Late or Worse Curves by Credit Grade (September 1, 07 Update)This is an update to my original 1 month late or worse curves. I believe we are starting to see the continued flattening of the curves. Time will tell. I have pulled the public data on the performance tab by hand in order to produce a spreadsheet of loan performance…….
  • New Loan Funded — debt relief for kids — $6,000 at 18% — B Credit — DTI 64%A new loan funded (debt relief for kids – $19,500 at 14.34%). I participated via my standing order RL Overlooked. The borrower had B credit, a 64% DTI, and is a homeowner. This was a non autofunding loan. As a reminder my standing orders (and manual bids) only find loans with 0 current……
  • New Loan Funded — Blessings are coming — $10,000 at 26% — D Credit — DTI 84%A new loan funded (Blessings are coming – $10,000 at 26%). I participated via a manual bid the loan was Autofunding. The borrower had D credit and 84% DTI and is a homeowner. As a reminder my standing orders (and manual bids) only find loans with 0 current delinquencies, 10 or less delinquencies in……
  • New Loan Funded — Help SBA cash injection! Buying the 1st of many franchises! — $25,000 at 17.50% — B Credit — DTI 16%This is the loan that my standing order found last night. Wow that was fast. This loan might be the fastest to go from listing to fully funded listing to verified loan (less than 36 hours.) A new loan funded (Help SBA cash injection! Buying the 1st of many franchises!……

blog traffic exchangeRelated WebsitesOnline StoresIf you liked this article, vote for it on and stumbleupon.



Leave a Reply

Your email address will not be published. Required fields are marked *