P2PXML.com Has Launched

I’ve started to roll out most of the work that’s been done on P2PXML. It’s still very much a work in progress, but there is enough of a scaffold in place to help people who want to process data start. I’ve created one client library for PHP, and there is another developer who is exploring a possible JavaScript implementation.

If you recall from my last post I had mentioned one of the tenets of P2PXML is Core Metrics. I’ve decided, with some input from others to merge more of the low level loan details into the main loan element. So things like bank card utilization and inquires will not be in the Meta section, but share the same path as loan term and interest rate.  This meta data is so fundamental to the under writing process that I believe most will agree they deserve to be there.

A while back Peter over at the Social Lending Network had mentioned the concept of comparing the platforms based on interest rate ranges. This concept is now part of the specification as Rate Groups. The rate group equation is defined as (1+ floor(iRate / 2) ) which basically chunks interest rates into groups of 2%.  Using Rate Groups you should be able to compare the IRR of the two platforms with relative ease.

Please visit www.p2pxml.com frequently, it will changing quite a bit as the community provides feedback. If you are a developer and have a favorite language you should consider writing a library.  Also, I do not have access to a Windows machine so if someone with Excel could test the XML import that would be outstanding!

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