Comments on: Prosper Changes: What They Mean to Me and You http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/ Saving, Earning, and Investing Money Sat, 21 Nov 2009 00:22:17 -0800 http://wordpress.org/?v=2.8.5 hourly 1 By: JohnR http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/comment-page-1/#comment-2716 JohnR Sat, 17 Feb 2007 19:32:44 +0000 http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/#comment-2716 I have been a moderate prosper lender for several months. My net returns really are coming close to what they have posted on the web site. These changes mean to me that i am likely goign to become a 'former' lender. Keep in mind, their quoted ROIs are based on things before the fee changes. Subtract 0.5% for increased lender fees and the rates are not as good. Noe, is your money 100% invested at all times? I think not. When I take into account the time it takes for the loan to open and the fact that the money I get out each month will need to be reinvested, I am sitting at about 85% invested. Take this into account, and my 'real' ROIs are about 9%. Not as hot as I thought. Plus, I'm finding that I do a lot of research on each decistion and I only have about $3500 invested. So the time I put into it isn't much worth it. The fun is wearing off... I might just throw the money in an index fund. I bet I can do better in that with no time committment. I have been a moderate prosper lender for several months. My net returns really are coming close to what they have posted on the web site. These changes mean to me that i am likely goign to become a ‘former’ lender. Keep in mind, their quoted ROIs are based on things before the fee changes. Subtract 0.5% for increased lender fees and the rates are not as good. Noe, is your money 100% invested at all times? I think not. When I take into account the time it takes for the loan to open and the fact that the money I get out each month will need to be reinvested, I am sitting at about 85% invested. Take this into account, and my ‘real’ ROIs are about 9%. Not as hot as I thought. Plus, I’m finding that I do a lot of research on each decistion and I only have about $3500 invested. So the time I put into it isn’t much worth it. The fun is wearing off… I might just throw the money in an index fund. I bet I can do better in that with no time committment.

]]> By: fin_indie http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/comment-page-1/#comment-2707 fin_indie Sat, 17 Feb 2007 14:57:46 +0000 http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/#comment-2707 The ROI tool is interesting, but looking at my own loans (A through D), the numbers are definitely not what I am seeing. I'm not sure if they're trying to set low expectations in the hopes that new lenders think the going rates are a good deal or what. Either way, something is definitely off. Also, on the fee increase: I totally missed that in my breeze through the changes. That's a HUGE deal. I couldn't agree more: customer service is not something I see myself using and I'd rather pay the old rate. For me, the only material change is having more borrower data available. The rest of the stuff doesn't matter. The ROI tool is interesting, but looking at my own loans (A through D), the numbers are definitely not what I am seeing. I’m not sure if they’re trying to set low expectations in the hopes that new lenders think the going rates are a good deal or what. Either way, something is definitely off.

Also, on the fee increase: I totally missed that in my breeze through the changes. That’s a HUGE deal. I couldn’t agree more: customer service is not something I see myself using and I’d rather pay the old rate.

For me, the only material change is having more borrower data available. The rest of the stuff doesn’t matter.

]]> By: RateLadder.com http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/comment-page-1/#comment-2515 RateLadder.com Tue, 13 Feb 2007 14:26:22 +0000 http://www.lazymanandmoney.com/prosper-changes-what-they-mean-to-me-and-you/#comment-2515 I was playing with the ROI tool too (since 4:30 this morning). Still not totally clear what it is saying. At first glance it seems they made some trade offs between easy of use and transparency. I am hoping that they clarify a bit in this morning session: http://www.rateladder.com/2007/02/13/rateladder-at-prosper-days-day2/ I was playing with the ROI tool too (since 4:30 this morning). Still not totally clear what it is saying. At first glance it seems they made some trade offs between easy of use and transparency. I am hoping that they clarify a bit in this morning session: http://www.rateladder.com/2007/02/13/rateladder-at-prosper-days-day2/

]]>