Effective today, Prosper has increased the origination fee for borrowers. The rationale behind this increase is to enable us to better cover our administrative costs and bring our fees more in line with the market. We have endeavored to continue to keep the fees very straightforward for our borrowers.
The origination fee schedule for borrowers of first and second loans will be as follows:
|AA||1.00% (no change)|
Therefore if you are a borrower and your loan is funded, you will be charged a percentage of the amount borrowed depending on your credit grade. This change will impact all listings created on or after January 4th, 2008.
Origination fees paid by existing borrowers and for listings that have already been created will not be impacted.