- Lending Club only posts payments that have passed, Prosper shows money in your account as soon as a payment is initiated -- but that money will be disappear if the payment fails!
- Sometimes money from a loan pay off can temporarily disappear -- that is the money disappears from your current note value because it has entered payoff, but since it hasn't been processed they don't display it in your cash balance -- which is the exact opposite of how they handle normal payments, talk about inconsistency
So, down to the meat of the matter, how are the accounts doing after another month? To say the least things have been eventful. As I related in my previous update I have a loan that was late. Since then I've had several others enter the 1-15 day late area on Prosper and most were subsequently brought back up to current. Sadly the original late loan is still late and has entered collections. I have $50 on this note. (I double invested on it due to user error.) I also have another loan which is in the 1-15 day late period.
|Principal paid off:||-||$248.85|
|Payments in excess of principal:||=||$103.57|
|Gain/loss to date:||=||$103.57|
|Principal value of active notes:||$5,101.15|
|Total active notes:||196|
|Past due (1-30 days):||1|
|Past due (31+ days):||1|
|Payoff in progress:||0|
|Total charged-off notes:||0|
|Total notes paid in full:||5|
|Total notes sold:||0|
*According to lendstats the expected loss on a loan which is 1 month late -- like one of the above -- the expected loss rate is 80%.