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.

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