Archive for the ‘ Employee ’ Category

Today is my last day at Prosper.

Over 4 years ago I joined Prosper because of the professional interest and challenge peer-to-peer lending presented, and the opportunity to be part of what state and federal regulators have since described as one of the most promising financial innovations in the last five years. My charge was to design and build Prosper’s peer-to-peer lending platform from the compliance standpoint, and obtain the regulatory approvals necessary to make it work. Continue reading Message from Ed Giedgowd - Moving On

[Opening Note: This is a two part blog – in the second part, which will posted shortly, we do a general review of the Legal test].

Unfortunately the wheels of justice move slowly. We first announced the “New Agency Test” about 23 months ago. We filed suit 18 months ago. We finally had our first scheduled trial of a contested case last week. Continue reading Legal Test Update - “Judgment in favor of Plaintiff”

Overseeing Operations in a start-up environment is a delicate balancing act. There is a constant tradeoff between quality and the necessarily thin staffing levels of a startup. Looking at a front office operations area, customer service is an example of this dilemma. Inbound call volume can be Continue reading Renewed Customer Focus

I’m excited, thrilled even, by the switch to Prosper Ratings. Although the Prosper Ratings are still letter grades ranging from AA – HR they are radically different from the credit grades we used in prior years.

Before Prosper Ratings, there were Credit Grades, which were based solely on the Experian credit score. Continue reading A little cheerleading for Prosper Ratings

One of the early trends we are seeing in the marketplace since re-launch is a dramatic improvement in the quality of listings.

• The average credit score of listings on the site improved from 584 in early October 2008 to 711 in the first two weeks since re-launch. Continue reading Quality Loan Listings On Prosper.com