Posts Tagged ‘ Prosper News ’

by Colin Henderson, Chief Technology Officer, CommunityLend

The original vision for peer-to-peer lending was formed at a time when internet models were evolving from web sites to social interactions. The notion of wisdom of crowds and the ability of a larger group to prepare better decisions than discrete individuals was prevalent. Prosper to their credit took that vision literally and applied it to peer-to-peer lending.

Continue reading The Bankwatch: Thoughts on p2p lending, risks and the future of the industry

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

Today Prosper released our November 2009 performance data. Notable in November, the average credit score of funded borrowers was 718 and 54% of loans were for debt consolidation purposes.

Continue reading Prosper Sees Spike in Borrowers Seeking to Knock Out Credit Card Debt

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

We are thrilled with the results from Prosper’s first two months of operations since re-launch. Lenders are really capitalizing on Prosper’s best in class rating system and auction pricing model. Continue reading Prosper Lenders Are Doing A Great Job Pricing!