Transparency, access and control are rooted in PeerStreet’s mission, and today we’re announcing several product updates that further align with those core values.
We’ve launched several improvements to Automated Investing designed to give investors more control and access to the investments they want. First, we changed the selection criteria to better match the supply coming onto the platform. Investors can now select yield, LTV and term characteristics separately, which allows for more granular customization.
We’ve also updated the Automated Investing allocation system. We know it can be frustrating to miss out on loans that are oversubscribed, so today we are launching improvements designed to give investors a better opportunity to get into high-demand loans. Learn more about how the new allocation system works here.
Introducing Instant Funding
Waiting three days for a bank transfer to clear can result in missing out on our most popular investments. As of today, we’ve taken the first step in solving the waiting problem. After initiating a deposit, PeerStreet will make those funds immediately available in investor accounts.
New Distribution Schedule
We are rolling out a new payment distribution schedule to make the process more consistent and predictable. All regularly scheduled interest distributions will be paid out on the first and 15th of every month. Principal and other miscellaneous distributions will still be paid as we receive them. Along with the new distribution schedule, we’ve also integrated a notifications section for each investment position so it’s easy see relevant updates on the loan, including payment status, payoff, extensions, and more.
Improved Retirement Investing
We’ve further improved the signup process for an SD IRA on PeerStreet. The updates include an integrated signing feature and the ability to start the paperwork now, save it, and come back to it later when investors have time. No more printing, scanning or heavy lifting. As an added bonus, we cover the first year of fees for any funded account greater than $5,000. We’ve already seen an influx of new retirement accounts this year.
Thanks to all our customers for their continued feedback and support. We’re constantly taking suggestions to improve our platform and grow our marketplace.
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