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Roundup of Social Lending News – July 14, 2012

by Peter Renton on July 14, 2012

Every Saturday I bring you the latest news from the world of peer to peer lending. These are the best of the news articles and blog posts from around the web that I shared on Twitter this past week.

We had two detailed p2p lending portfolio updates this week from established bloggers, Investor Junkie and Nickel Steamroller. They shared details about their returns from Lending Club and Prosper and both bloggers continue to do very well. We welcome a new blogger this week to the weekly news roundup, Prosper to Retire, who shares his experience as a Prosper investor since 2008. Finally, I want to toot my own horn briefly. An article this week in Business Insider included yours truly in the list of 15 money experts everyone should follow on Twitter. Enjoy your weekend.

Business Insider – 15 Money Experts Everyone Should Follow On Twitter

Fox 5 Atlanta (video) – What is peer-to-peer lending?

Random Thoughts – Lending Club Loan Amount and Defaults

Prosper blog – Introducing Prosper Premier

Prosper to Retire – I lost it all with P2P Lending… But Then…

Nickel Steamroller – July P2P Portfolio Update (UK) – Consumers flock to peer-to-peer finance

Investor Junkie – Prosper Review – Are They Worth A Second Look?

PR News Wire – Lending Club Wins Third Consecutive AlwaysOn Global 250 Award (press release)

Random Thoughts – Lending Club Q2 2012 Update – Credit Grade, Days to Issue, and Funded Amount

Investor Junkie – Lending Club (July 2012 Update)

This is Money (UK) – ‘Peer-to-peer’ lending means savers and borrowers get far better rates together

{ 10 comments… read them below or add one }

Dan B July 14, 2012 at 10:43 am

Hold on, you’re a money “expert”? :)


Peter Renton July 14, 2012 at 5:29 pm

Of course those are not my words and I think money expert is a bit too general, but who I am to disagree….


Dan B July 14, 2012 at 6:22 pm

Oh I don’t think it’s a bit too general. Perhaps a bit extreme, outrageous, preposterous,…………….give me time, I can think of a few more words.
Bill Gross, Peter Lynch, Michael Milken (I don’t care that he went to jail), Benjamin Graham etc. are money experts.

And before anybody regurgitates or argues for Dave Ramsey or God forbid, Suze Orman……………they’re marketing experts.


Peter Renton July 16, 2012 at 7:02 am

When I said too general what I meant was that I am not a money expert at all but I think I qualify as a peer to peer lending expert…


Dan B July 16, 2012 at 5:27 pm

Oh, a self anointed p2p expert. I get it.

Danny S July 14, 2012 at 12:39 pm

Always a good source to recap the latest news on P2P lending.

And any update on Lendstats? I really hope the site returns


Peter Renton July 14, 2012 at 5:31 pm

I just checked on the Lendstats forum and Ken had this to say earlier today:
Thanks for your sentiments everyone. I’ve been obsessing over lendstats for good chunks of the past 3 years, and I finally need some down time. I’m not sure exactly how much I will scale it back, but I think I will heed LovingLifeStyle’s advice and take some time off of LendStats and re-boot my brain.

So, it is still unclear how, when and if Lendstats will be back.


Terry July 16, 2012 at 5:29 am

@Peter – Thank you for posting my blog,, in your Roundup! Nice little boost in readers :)

As for LendStats being down… seeing that it may not be back anytime soon, my wife and I had a lengthly discussion this weekend about building our own version. It’s been too useful of research tool and a serious contributor to many of our income/investing strategies to leave it hanging like that.

The only difficulty I see is in the financial equations, to which we’re no expert. My developers are working up drafts of the database now, the technical side of things is covered. Anyone willing to provide some pointers or guidance on the equations necessary to build the ROI, Rate of Loss, etc. query results?


Peter Renton July 16, 2012 at 7:04 am

You’re welcome Terry. There have been several people like yourself who are working no putting together a Lendstats replacement which is great. The more the merrier. You can see an explanation of the methodology used on Nickel Steamroller:


Terry August 17, 2012 at 6:47 am

I appreciate the methodology link to We should be within a month (give or take a couple weeks) of releasing As quirky as the name is, the inspiration actually came from Ron Pugh, VP of Technology at We had a lengthy discussion about what methods others are using to evaluate Prosper data when he referred to the huge XML export file of Prosper data as the ‘Whale File’. If you haven’t already met with the guys at Prosper this week and you run into Ron, give him a personal thanks for the name inspiration for me.

Many thanks again to you as well!
Terry P.


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