That is exactly my point. Other people are already doing it, just not as blatant as my example. Eric looks up a lender’s loans and shows the status in the context of evaluating a lender’s performance.
Prosper gave me the data and I can tell you for all loans in the data(6393) I can identify the listings of 6335. 6335/6393 = 99.1%. If all the data they gave me is truly public, then it seems like Prosper has a fundamental flaw and a problem on it’s hands. I know I am a lender and must abide by TOS, but the data download is for anyone. Including others not bound by a TOS.
However, without an guaranteed unique matching criteria the limit as loan volume increases of the percentage of loans that can be identified is 0%. But right now I think it is over 98%.
What I am doing is not rocket science, but I did go to some effort to get almost all the loans.
And I am holding off publishing the sql, let alone the page of late loans to listings to give prosper a chance to respond. If prosper wants to see the sql I will be happy to show it to them, but my guess is they already have it.
On the other hand the data we currently get to evaluate loans is significantly less and wholly inadequate when compared to the institutions that normally lend money. We are all in effect gambling. The future default rate is an estimate at best, but probably more like a flat out guess across any data segment (let alone the extended credit most of our SO criteria fire on.)Â Â
I started a thread on the prosper forums to clarify an issue: Loan to Listing Sql, SQL to join loan to listing. I like my last post in the thread and am putting a copy on my blog for prosperity, please read the entire thread if you need more context…
Â
Related Posts -
Referral Program Strategies (part 2) I wasn't planning on this being a 2 part post, but I got some great comments and I wanted to republish and respond... First a great suggestion from Used vans girl: Have you considered buying lists. There are a numerous companies out there who produce lists for every type of...... - The Prosper Friends and Endorsements Feature Having spent a full day away from Prosper Days I have had a chance to play with some of the new features. Other than some cursory searches with the ROI tool and adjusting my standing orders for credit utilization, I invited a fellow blogger and lender (LazyMan) to be a friend. ......
- Update On The Deadbeat Lenders -- Prosper Responds Earlier in the week I wrote a post about the lenders and group leaders on Prosper that were also borrowers AND LATE on their loans: http://rateladder.com/2007/02/26/please-close-major-loophole-for-deadbeat-lendergroup-leaders/ Basically I was calling for the impounding of the lender funds to pay loan. Well, Prosper has responded via Prosper Andrew: Hi all,   We're......
- Rateladder Referral Listing: Guarenteed Money for Simple loan Guarenteed Money for Simple loan This is the cleanest A I have ever seen. I am a little surprised that it is not a AA. Account Verified, DTI 9%, A Credit. CLEAN! Purpose of loan: Supplement stock porfolio for more diversified lending (explain what you will be using this loan......
-
Lending Club Update I am continuing to struggle with the time and effort it takes to invest in Lending Club loans. (I do not like manual bidding in the first place and you have to search the extended credit by hand.) I have been assured that my concerns have been noted and that they......
Related Websites -
Is Consolidation Always the Answer? One of the most important things that you can come to understand regarding your debt and the concept of debt consolidation is this: You absolutely cannot borrow your way out of debt, in order to solve all of your problems. More than 80 percent of all individuals that managed to...... -
Finovate Startup 2009 Live Twitter I am attending Finovate Startup 2009. It is an action packed 1 day format which I belive will lend itself perfectly to a live twitter. Stay tuned it should be an amazing day. http://twitter.com/BlogTrafficExch In the break I have scheduled some talks with SimplFi, Mint, and Calendar Budget. I am...... -
Payday Loans compared to Unsecured Cards Payday loans can put you in a courtroom begging the judge to relieve you of debt. While searching for payday loans you may want to consider unsecured or secured credit cards for debtors. A number of the credit cards online may have high rates of interest and fees on late......
- 2009 In Review Well, we're just about done with 2009 and I wanted to take a look back at my financial goals, the blog, and take a look ahead to 2010. Awhile back, I stated my 2009 goals. I've actually changed my mind about a few of them. The amount I have saved......
- Avoid Borrowing and Lending Money to Family with Peer to Peer Loans Most consumer advocates say that one of the biggest financial mistakes that one can make is borrowing money from or loaning money to a close friend or a family member. Fortunately, most of us can now avoid this awkward situation by making use of the fledgling peer to peer lending......
- Happy Pappy Gnomes & Sprites Statues & Yard Art Garden Décor Yard, Garden & Outdoor Living Nursery
- Guess Women Discount Fragrances Store
- Data Logging Infrared Thermometers Garden Decor Yard, Garden & Outdoor Living
- Happy Holidays Holiday Barbie Barbie Dolls Barbie Contemporary (1973-Now) Dolls Dolls & Bears
- Spools, Thread Sewing Antiques
Categories:
Prosper.com, Strategy, Tools
Tags:
0 comments ↓
There are no comments yet...Kick things off by filling out the form below.
Leave a Comment