Prosper updates the portfolio plan templates regularly in order to reflect changing risk and interest rate conditions in the marketplace. It is important that you update your portfolio plans, as these updates include changes to bidding rates based on the most recent loss rate projections.
If plans are not updated regularly, there is a good chance your bid rates will not reflect the current market conditions. For example, if loss rates have deteriorated, you could be bidding too low, in which case your expected returns may not be high enough for the level of risk you are taking. Conversely, if losses have improved, your bid rates may be too high and you may be getting outbid.
If you used a Prosper template to set up your plans, you must approve updates to each of the plans. If you set up a plan from scratch, you should review the plan and make sure it is still giving you the listings and returns you would like.