zcommodore

Apparently there are still a few lenders out there still lending.  I approved the first listing in my group in a long time a little while ago and within minutes it had more than a dozen bids.  This is a big change from the previous time that the same borrower had a listing up a couple of months ago.

The only difference in the credit data between the last listing and this one is the amount of time the borrower has been employed.  However, Prosper made a big change in their bidding guidance segments and now this borrower is in the top segment of the C grade loans.  Previously this same borrower was in a segment that Prosper suggested might have a 12+% loss to factor in when bidding.  Now the lender guidance suggests a loss of only a little over 3% including the 1% lender fee.

In the earlier version of Prosper's segments, they focused a lot on number of delinquent accounts whereas now they focus more on DTI and loan size for C grade borrowers.  Since there are a few non-zero numbers in the extended credit data where one would like to see zeros, it is nice to see that there are other factors being used so that she has a better chance to get a loan this time around.

This post is probably looking like a "loan pimp" and it is but since this is my blog, I can post what I want.  :-)  I do believe this borrower will continue to improve her credit and financial situation with a loan on Prosper.  After all, since last May, her credit grade has moved up from an E to a C.  Getting more training in order to get more income seems like a good idea, right?