Archive for the ‘ Lenders ’ Category

Today, The Big Money, an outlet we and many others respect, published a disappointingly inaccurate story about Prosper and the peer-to-peer lending industry.  It’s unfortunate that the author’s data analysis and perspective relied almost entirely on a hodgepodge of anonymous sources.  If higher reporting standards had been upheld, the reality that Prosper has shown great promise and performed well on a relative basis over the last three-years would have been self evident.

Continue reading An Open Letter to The Big Money: Retract Your Story

Consumers who lose their jobs can’t get loans to cover periods of unemployment; businesses that encounter trouble due to low demand can’t get credit lines to see them through to recovery. Furthermore, banks are more interested in recapitalizing than in lending. Growth in P2P lending will be driven by investors seeking higher returns and borrowers shunning (or being shunned by) banks. Gartner recommends that financial services providers investigate how to partner and collaborate in adding P2P to their existing offerings rather than building their own P2P lending networks.  Full article

Prosper Ratings

Every borrower listing on Prosper is assigned a Prosper Rating - a proprietary rating developed by Prosper that allows us to maintain consistency when assigning a rating to the listing. Continue reading Prosper Ratings: A Refresher

Prosper News Updates:

November 11, 2009
Fast Company: Peer-to-Peer Lending Explained: Brother, Can You Spare $100? By Lydia Dishman

Continue reading Prosper’s Media Roundup – 11/17/2009

Before discussing the results of the test, let’s review what we were testing. In November 2007, 74 loans that would have been included in the December Debt Sale were selected for a test of applying a legal collections strategy. These loans had an outstanding principal balance of approximately $705,000. They were placed at Hunt & Henriques, a prominent California debt collection law firm.

Once placed with the firm, these accounts were sent a “demand letter” stating that the balance would be accelerated in 30 days if an acceptable payment arrangement was not negotiated.  Continue reading The Results From the Legal Collections Test