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An Apples to Apples Default Rate Comparison

May 14, 2012 By Peter Renton 28 Comments

Views: 118

One of the problems with comparing default rates at Lending Club and Prosper is that you are really comparing apples with oranges. What do I mean by that?

Each company has a completely different underwriting model and they grade loans differently. Does a AA-grade loan on Prosper match up with an A-grade loan on Lending Club? It depends. If the interest rate, loan terms and the credit data of the borrowers are all similar then I would say yes. But I have heard from many borrowers who have received very different interest rates from both companies when applying for a loan with identical terms.

P2PXML Brings Standardization to P2P Lending

Earlier this year I wrote about the release of P2PXML, an attempt to bring an open standard to analyzing p2p loans. P2PXML is an open source project by Michael from Nickel Steamroller and it is very useful in doing a legitimate comparison between Lending Club and Prosper. The problem has been these companies store data in very different ways so even though you can download the entire loan history from each company it has been difficult to make realistic comparisons.

P2PXML stores the data from both companies in exactly the same format. It is not perfect because not all the same data is available from both companies but it does provide enough information to make the first real apples to apples analysis of default rates. [Read more…]

Filed Under: Investing/Lending Tagged With: default rate, Lending Club, p2pxml, Prosper

Views: 118

A New Standard for P2P Lending Data Analysis Launches

February 20, 2012 By Peter Renton 5 Comments

Views: 900

Many investors like to do their own analysis of the raw data from Lending Club and Prosper. To do that you have to go to the download area of each site and access the data separately. Then you have to figure out what all the fields mean because both companies store their data in completely different ways.

Michael from Nickel Steamroller thought there had to be a better way. So, he has created an open standard and a central location where investors can go to download the data from Lending Club and Prosper. Best of all he has made the data available in exactly the same format for both companies. It is called P2PXML and it launched last week.

Why Use P2PXML?

Of course, investors can just go to Lendstats or Nickel Steamroller to do analysis on the p2p lending data. But these sites do not give users access to the raw data. The biggest benefit of accessing data through P2PXML is standardization which makes it much easier to use. The data is presented in exactly the same way for both companies. [Read more…]

Filed Under: Investing/Lending Tagged With: p2p analysis, p2pxml

Views: 900

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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