Many people use Nickel Steamroller to receive alerts for Lending Club loans as they come on the Primary Market. In the past these alert results have been limited to 25 loans per email. This restriction has been removed. If you wish to monitor the platform for all new loans, you now can.
The new alert system on NSR monitors loans every hour instead of the the 4 times a day Lending Club releases new loans. I’ve done this for two reasons. 1.) To keep the percent funded more accurate and remove loans that are funded 2.) in the event Lending Club was to move to rolling release for loans, the alert system would require no changes.
Additionally, NSR now supports the Prosper Primary Market. The loans here are also processed every hour for the same reasons mentioned above.
In the past, NSR saved search alerts were all or nothing. Meaning if you had alerts enabled, you received alerts for all of your saved searches. This is no longer the case, you can turns alerts on and off individually for each saved search.
This should help cut down on unwanted email. In addition, you can directly unsubscribe a email notification for a saved search right from the email that was sent to you. Below is an example of the new email alert.
I’ve added the listing date and time for the loan and the funding information. This should help you see the “freshness” of the loan and hopefully improve your ability to buy the target note.
There are a lot of new filter options. For Lending Club there are over 90 and for Prosper, over 500. I have not exposed every filter, but if you find one you need beyond the core set of filters, let me know and I’ll add it.
Primary Market Tool Links: