Lending Club P2P Account (Update) - May 2014





April was decent month for us on Lending Club as we purchased a total of $850.00 worth of notes this month. At the end of April, our Lending Club account balance was at $6,952.40. We received $582.30 in payments from our active notes in April; of which, we received, $40.51 in interest.  The principal balance of our active notes was $6,323.07, with $375.00 of loans in funding and a remaining cash balance of $254.33.  We are currently generating 5.24% on our seasoned notes.

 

 

 (we just added $543 of cash at the beginning of May)

 

In an effort to grow our Lending Club account, we are currently re-investing all of the payments that we receive from our notes. And when the cash balance is low, we are continuing to add more funds to the account so that we may constantly purchase new notes.

Although our cash balance was still $254.33, we had extra money laying around so we decided to add $543 to our Lending Club account in early May. Please note that since the graphic above was a screenshot taken on May 8th, the numbers do not line up with the April data provided because they are reflective of this new deposit. 

 

 

NOTES CRITERIA:

Our family has been investing in peer-to-peer lending notes for approximately 3 years now. And because of past defaults, we have now refined our search criteria. As a result, we now take a slightly more conservative approach with the notes we invest in. Currently, we only invest in notes that fit the following initial criteria:

• Amount requested is under $6,000;
• Credit score of 700 or more; and
• Monthly payment will be less than $250.

From those we evaluate (Employment Status):

• The borrower's income (prefer > $50,000 but depends on amount requested);
• Length of employment (must be > 2 years); and
• Their occupation (certain occupations, known to be more secured, are more desirable).

We then look at (Ability To Pay):

• Their credit history;
• Revolving balance; and
• Debt to income level, etc.

We do not invest in any notes where borrow is currently delinquent, of if they have had  a public record within the last 12 months. We also do not invest in notes where the description provided is "Other." We feel that there is too much risk involve when the borrower is not willing to reveal why he/she needs the money.

Click here to view our the current value of your peer-to-peer lending accounts.

Prosper PSP Account (Update) - May 2014

 

April was another good month for us on Prosper as we purchased a total of $740.21 worth of notes this month. At the end of April, our Prosper account balance was at $7,332.24. We received $244.20 in payments from our active notes in April; of which, we received, $49.42 (an increase of $4.20/mo.) in interest.  The principal balance of our active notes was $7,222.94 and a remaining cash balance of $109.30.  We are currently generating 7.76% on our seasoned notes.
 

 (we just added $523 of cash at the beginning of May)

 

 

In an effort to grow our Prosper account, we are currently re-investing all of the payments that we receive from our notes. And when the cash balance is low, we are continuing to add more funds to the account so that we may constantly purchase new notes.

Because our cash balance was down to $109.30, we decided to add $523 to our Prosper Account in early May. Please note that since the graphic above was a screenshot taken on May 8th, the numbers do not line up with the April data provided because they are reflective of this new deposit.  

 

NOTES CRITERIA:

Our family has been investing in peer-to-peer lending notes for approximately 3 years now. And because of past defaults, we have now refined our search criteria. As a result, we now take a slightly more conservative approach with the notes we invest in. Currently, we only invest in notes that fit the following initial criteria:

• Amount requested is under $6,000;
• Credit score of 700 or more; and
• Monthly payment will be less than $250.

From those we evaluate (Employment Status):

• The borrower's income (prefer > $50,000 but depends on amount requested);
• Length of employment (must be > 2 years); and
• Their occupation (certain occupations, known to be more secured, are more desirable).

We then look at (Ability To Pay):

• Their credit history;
• Revolving balance; and
• Debt to income level, etc.

We do not invest in any notes where borrow is currently delinquent, of if they have had  a public record within the last 12 months. We also do not invest in notes where the description provided is "Other." We feel that there is too much risk involve when the borrower is not willing to reveal why he/she needs the money.

Click here to view our the current value of your peer-to-peer lending accounts.

Prosper Account (Update) - April 2014

Given that we feel the market may be a bit overvalued at the moment, our family's primary focus right now is trying to grow our peer-to-peer lending accounts.  Our family currently maintain accounts with both Prosper.com and LendingClub.com. We are planning to report these two income streams separately and will provide monthly updates on both.

 

 

PROSPER - March

March was a very busy month for us on Prosper as we purchased an additional $1,470 worth of notes this month. At the end of March, our Prosper account balance was at $7,288.20. We received $396.20 in payments from our active notes in March; of which, we received, $45.22 in interest.  The principal balance of our active notes was $6,682.99 and a remaining cash balance of $605.31

 

 

In an effort to grow our Prosper account, we are currently re-investing all of the payments that we receive from our notes. And when the cash balance is low, we are continuing to add more funds to the account so that we may constantly purchase new notes.

 

Notes Criteria:

Our family has been investing in peer-to-peer lending notes for approximately 3 years now. And because of past defaults, we have now refined our search criteria. As a result, we now take a slightly more conservative approach with the notes we invest in. Currently, we only invest in notes that fit the following initial criteria:

• Under $8,000;
• Credit score of 700 or more; and
• Monthly payment will be less than $275.

From those we evaluate:

• The borrower's income;
• Their occupation; and
• Length of employment. 

NOTE: Certain occupations, known to be more secured, are more desirable.

 

We then look at:

• Their credit history;
• Revolving balance; and
• Debt to income level, etc.

We do not invest in any notes where borrow is currently delinquent, of if they have had  a public record within the last 12 months.