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Listing Descriptions Update

by Prosper on 06/1/10

We wanted to update everyone on the borrower listing description change that was introduced a few weeks ago.

As some lenders noticed and commented on in our May 3rd blog post, borrowers with a high probability of funding were no longer being prompted to write listing descriptions (even though they still had the option to do so). As we discussed in our reply comment to lenders, we thought this would be appealing to both borrowers and lenders – borrowers because their listing process was easier, and lenders because they would have more listings to bid on.

While we still believe in those benefits, we did hear some concerns from manual bidders who liked reading the listings. We’ve heard that feedback, and as a result we have gone back to prompting all borrowers to provide a listing description. We’re continuing to strive for the most efficient process for all of our borrowers and lenders – and we still think there’s a role for “express listings” in that effort. But our top priority is keeping our lenders and borrowers happy, and right now that means sticking with the listing descriptions. We hope you’re happy we changed back!

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8 Responses

Herb Fletcher | June 1st, 2010 at 2:35 pm

So glad you made this choice! With all that Propser has been through, more data, more transparency and preserving anything that’s useful for investors is important. Please get that data back on-line and use your new capital to innovate on the social/performance improvement of Prosper. This should be a great time for PMI to be innovating with the model.

Paul | June 1st, 2010 at 5:48 pm

great. now how about getting that marketplace performance data back up and running?

CG | June 16th, 2010 at 1:50 pm

That’s wonderful. Now how about letting lenders from New Jersey invest in loans like everyone else!!

Richard McSweeney | June 30th, 2010 at 11:14 am

When are we po folks in Alabama going to be able to Loan money again? Ever?

Richard McSweeney | June 30th, 2010 at 11:16 am

When can the folks in Al. invest agin—ever?

Personal-Bond | July 31st, 2010 at 8:06 am

What’s the point of having an automated plan if you have to restart it every month??

Maria Magana | August 11th, 2010 at 1:07 pm

What happens after your loan is funded and they are reviewing the information. after the 7 days, how much longer do you have to wait to have the money transfered to my account.

Dick McSweeney | August 12th, 2010 at 7:30 am

When will the residents of Alabama be able to bid on loans again?

posted in Borrowers,Featured,Lenders,Prosper News 8 comments »

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