As regular readers know, the non auto funding loans are the bane of my greedy standing order algorithms.  I have been experimenting with the advanced search sent out by Prosper in the recent overlooked listings email campaign (I have gotten 2 how about you?)… 

The advanced search that was sent with the email has reasonable rates (relative to site averages) and fairly tight extended credit. Here is a link (you must be a lender) for reference: Prosper Overlooked Listings Advanced Search

I found the list to be interesting and started thinking…. (play jeopardy sounds)…  maybe the less than 80% criteria combined with a greater than 20% criteria can keep me out of listings that launched to 100% funded only to have my SO outbid, but still find listings that fund.

So I took the Prosper Search, tightened the credit to my requirements and increased the rates to 1 sigma over site averages.  This reduced the listings from ~70 down to ~2-8.  This new list had loans that will fund most of the time, but were not the bid down darlings of the lender community…  Contrarian…  Time to Zig while others are Zagging…  I like it… 

I created a standing order out of this advanced search and gave it $350 to invest.  I will keep you up to date as to what happens…

Here is my advanced search: RateLadder Overlooked Listings Advanced Search

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• 3 Standing Order Features Prosper Needs — Time Remaining Criteria and more I fund loans exclusively through standing orders. (At the moment very tight standing orders.) I like the options and flow of the current standing orders...
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