zcommodore

I had been thinking about doing this for a long time but never got around to it until now.  I created a list of all loans repurchased by Prosper.  I created this list using Eric's handy loan search tool. One of the cool things about looking at loans on Ericscc.com is that he includes a status history so you can see when a loan switched from one status (current, late, repurchased, etc.) to another.  It appears that Eric started doing this in Aug. 2006 though so some early loans don't have accurate status data.

On the list, I found 3 different categories of loans that were repurchased. Typical fraud loans (presumably) where the real person must have filed police reports stating the loan wasn't their's.  (I'm not convinced this is the case for all of them but have nothing to base this on other than circumstantial evidence and speculation.) A set of 10 loans taken out by Victoria Crawford using stolen identities of people with good credit (including one using her own identity.)  And finally, 66 loans included in the New Agency Test that are being sued by Prosper.

I noticed a few interesting cases on that list.  For example, there was one $25K loan where only one lender bid the entire balance.  The status history is a bit sparse but looking at the loan participants, it appears both borrower and lender were suspended.  Honestly, I can't figure out how/why someone would do this unless they knew each other.  The whole thing just doesn't make a lot of sense.  Maybe someone else can figure out what might have happened.

The first loan in the list of Victoria Crawford loans appears to have been current at the time it was repurchased.  I surmised that it was taken out using her real identity although the name on the listing is male, not female (similar to most if not all the other loans she took.)  I included it in the list because of the date (4/5) that it was repurchased, close to the time all the others (4/3) were repurchased as well.

In the list of New Agency Test (NAT) loans, I found 4 that appear to have started trying to catch up but apparently were "defaulted" and later "repurchased" anyway.  I don't quite understand why they were defaulted (although none were "current") since apparently the threat of a lawsuit was having some kind of an effect.

One other note about these NAT loans: several lenders have collaborated to create a wiki page about the status of the lawsuits by Prosper against these borrowers.  We are trying to create a list correlating the loan numbers with listing numbers and names of the borrowers.  If you have any information you would like to add, feel free to do so.  It is a wiki after all.