New Year, New Update
February 6th, 2008 | News & UpdatesWe’ve updated our contact information to better address your requests. We’re still transitioning from our old email address, so please resend your emails to our new address if we don’t get back to you within a few days. Thanks, and keep the feedback coming.
Here are the highlights of what’s changed in this update:
- Added a Bid History tab to the Listing Profile page. You can use it to check out who has bid on a listing as well as their estimated ROI and portfolio age. This should give you an idea whether seasoned lenders are funding a listing or “newbie” lenders.
- Color coded certain table columns to make it easier to distinguish the values at a glance. One example of this is on the aforementioned Listing Bid History tab.
- Updated the requirements to make the Top Lenders By Estimated ROI list to 6 months. (micskill)
- Fixed a bug where loans with paid status were being counted as both current and paid in the barchart. (zcommodore/gassman)
- Added text describing how the Loan Map works. (NewHorizon)
- The Bid History chart will be hidden for lender profiles when you customize the profile since it’s not affected by the customization. (NewHorizon)
- Fixed wording on how loan fees are calculated on the FAQ page. (ira01)
February 7th, 2008 at 10:00 pm
Nice update =]
February 8th, 2008 at 3:44 am
Nice update, but two issues:
1) The option to log in to see extended credit data won’t work. It asks me to create an account, which I click the link to do, and I’m just dropped right back on the LendingStats homepage.
2) I can’t find the number of payments made information on the individual listing pages anymore. I found that information very helpful.
February 8th, 2008 at 11:55 am
AMTK54: “The option to log in to see extended credit data won’t work. It asks me to create an account, which I click the link to do, and I’m just dropped right back on the LendingStats homepage.”
You weren’t suppose to see that yet :)…..
“I can’t find the number of payments made information on the individual listing pages anymore. I found that information very helpful.”
Hmmm. I put this back, not sure what happened.
February 10th, 2008 at 11:43 pm
I’m banned from prosper so can you tell the employees you see at PD,that bama says to “Kiss his Ass”
February 15th, 2008 at 2:03 pm
bamalucky: Not going to be at Prosper Days this year. Maybe next year :)
February 16th, 2008 at 11:50 pm
A sure bet would be this is the last PD.
February 26th, 2008 at 1:29 pm
At http://www.lendingstats.com/loanPerformance , the left and right arrows used to (de)select loan statuses and credit credits are unresponsive for me. Both in Firefox and MSIE.
February 26th, 2008 at 1:35 pm
PS - the arrows work fine in the “Customize” area of a lender’s profile page.
February 27th, 2008 at 11:18 pm
NewHorizon: Fixed. There were some code changes in preparation for the next update which broke the page. Thanks for the heads up.
February 28th, 2008 at 1:12 pm
Thanks. Looks good. :)
Separately, I’m wondering how useful the “Lender Rank (amount invested)” is. If I understand correctly, it’s based on total of all bids in originated loans. So the “rank”, then, is partly based on the number of opportunities the lender has had to RE-invest the monies.
Example, let’s say a lender has been bidding for 10 years and the total amount invested (and re-invested) during that period is $500K which probably puts him among the top lenders. Yet the value of his portfolio *at any given time* might never have exceeded $100K. I don’t think it’s meaningful to rank him higher than another lender who hasn’t been lending for long but who’s current portfolio value is, say, $300K?
And/or let’s say a high-ranked lender decides to quit Prosper and he lets his portfolio dwindle. Even if it dwindles down to $0, the total of his bids from years earlier may still keep him in the top 10. I think this is not so meaningful either.
May I suggest ranking lenders instead by the total outstanding amounts of the loans in their portfolio?
February 28th, 2008 at 9:28 pm
NewHorizon: The original idea was do somehow gauge how well a lender was doing. Then this kind of evolved into an estimated ROI and the rank somehow just got left there. I’m going to look into tweaking the ranking and base it on something more relevant like the lender’s current portfolio size or just remove it all together. I’m going to try to squeeze this into the next update.
February 29th, 2008 at 12:23 pm
My nonbinding vote :) would be to not “just remove it all together”. I thinks folks are still very interested - or should I say curious - in who the big-money guys are even if their ROIs aren’t so hot. (Muleshoes a great example, imho.) So I for one would luv to see a ranking by current portfolio size…
March 2nd, 2008 at 3:22 pm
NewHorizon: Ok I will definitely leave it in then and change what is used to rank the lenders.
March 6th, 2008 at 4:20 pm
Hi - very nice update… thanks! But is it possible to see the bids that has already become loans? That would be really helpful ….
March 6th, 2008 at 4:25 pm
Sorry, I meant to say if it is possible to see bids that has become loans from the “bid” tab on the lender page (e.g. http://www.lendingstats.com/lenders/SCREENNAME/bids); currently it seems like there are only live bids showing up.
March 10th, 2008 at 1:32 pm
Richard, I’m thinkin’ the “Loan Portfolio” tab already show the bids which have become loans…?
March 10th, 2008 at 3:21 pm
That’s right… Thanks NewHorizon. But on the other hand, I guess it would be great for my learning as a new lender to have the bidding history of the lenders aggregated under “bids”, even those that didn’t win at the end…
March 12th, 2008 at 4:17 pm
Richard: I get what your saying. I think you want an option on the ‘Bids’ tab that allows you to see previous bids by the lender even though that didn’t become loans right? This shouldn’t be hard, I’ll try to squeeze it into the next update. :)
March 12th, 2008 at 4:19 pm
Richard: Off the top of my head, it will probably come in the form of a filter drop down box that allows you to filter by bid status (active, bid’s that became loans, etc…). It sounds pretty easy to implement but I’ll have to look into it. The main issue might be performance.
March 12th, 2008 at 5:36 pm
That would be fantastic. Thank you! I’d really be looking forward to it.
April 3rd, 2008 at 8:50 pm
Richard: You can check the bids page, the change is in.
NewHorizon: The rank update is going to be released very soon.
There are a lot of hidden features on the site we haven’t turned on yet since they need some more testing. Hopefully we’ll have it all out very soon.
April 6th, 2008 at 3:56 pm
Is there currently a way, or do plan to implement a tool that would let me see the estimated ROI for select data (for example, if I wanted to see the estimated ROI for all AA loans of less than $10,000)?
April 6th, 2008 at 11:51 pm
Mickskill: The only reason this hasn’t been implemented yet is because customizing this would be slow. (doing the query on the fly).
Something similar to this is being added in the next update however, where you will be able to do what you just said to lender portfolios. (You can then do quick comparisons between the different years your loans were originated, by credit grade, etc.
April 9th, 2008 at 8:22 pm
NewHorizon: Both lender and group ranks have been updated to use the ‘current portfolio’ size versus the total portfolio size.
April 10th, 2008 at 10:33 am
That’s good to hear, LS. But did you miss the home page? I mean shouldn’t the top 10 lenders on the list at http://www.lendingstats.com/lenders be the same 10 shown in the “Top Prosper Lenders” list on the home page? (Ditto for groups?)
April 15th, 2008 at 12:06 pm
Speaking of http://www.lendingstats.com/lenders , maybe it’s time to add more options to the “Loan Age” pull-down menu? Maybe add “> 1 year”, “> 18 months”, and “> 2 years”? I think you could get rid of “> 1 month”. But others may have other opinions.
April 16th, 2008 at 11:59 pm
NewHorizon:
1) Good catch on the homepage. I added a toggle for the top lists on the home page (all / current). (It’s coming out in the update which is really… right around the cornet :))
all - total amount a lender invested all time
current - current amount a lender has invested
2) I’ll look into this, I’m kind of torn between ease of use and advanced functionality. (I can convert the lender page to use a similar customization scheme as the lender profile page, however its bulkier and harder to use). I might just go with your suggestion and just add more options to the drop down.
April 18th, 2008 at 11:46 am
Part of what goes into your estimated ROI is, “Late loans over 1 month old are estimated to default at the Penncro collection agency recovery rate.”
May I suggest adding one more thing to this? If ANY loan is in bankruptcy, I’m of the opinion no funds will be recovered. If you agree that that’s a relatively safe assumption, then how about inserting into your equation a 0% recovery rate for BK loans?
I mention this because I’ve got a Late (16-30days) already in BK. So I’m pretty sure it’s making my ROI look a little better than it really is.
BTW, going back to the above quote from the FAQ, I understand Prosper isn’t using Penncro any more…
April 18th, 2008 at 1:47 pm
NewHorizon:
1) If the Default reason is Bankruptcy/Deceased then the loan will default to a $0.00 sale price. Since the Loan is in Late status, we can’t differentiate whether the loan is in bankruptcy or not so it will be calculated based on the historic collection rates.
2) Definately going to look into updating the collection rates to the new collection agency. (There are some other things I’m looking into to possibly get a better estimate of everything.)
April 18th, 2008 at 3:50 pm
“Since the Loan is in Late status, we can’t differentiate whether the loan is in bankruptcy or not…”
Ah, without thinking, I assumed ;) you *could* differentiate since I can for the loans I’m in.
April 30th, 2008 at 10:19 am
Folks are talkin’ ’bout ya…. ;)
http://www.prospers.org/forum/so_you_like_your_lendingstats_roi-t6874.0.html
May 1st, 2008 at 1:52 am
NewHorizon: Thanks for bringing the thread to my attention.
I skimmed through the posts and the 2 main reasons the ROIs are ‘higher’ then they should be are as follows:
1) Late rates were being calculated using the old Penncro Collection rates offered by Prosper, these were significantly higher then the FirstSource rates we’ll be using now.
2) Default sale prices are being calculated based on the first batch of loans Prosper sold. This ’sale price’ has significantly dropped if I’m understanding correctly. (You probably won’t get 30% back for a C homeowner on default now). Going to look into getting a more accurate estimate of default sale prices.
I’ll have more time to look into these things now since the new update is out. :)
August 7th, 2008 at 3:36 pm
Mortgage Calculator Currency Conversion Financing…
I didn’t agree with you first, but last paragraph makes sense for me…