February 2007 loans pass 1/3 late(now 40.5% late)NEW TITLE

[Tokyo Joe]

That was the month that HR borrowers were running the asylum.

muleshoes had a bigger impact than a lot of people acknowledged at the time for instilling entitlement among our HR applicants, many of whom formed their own groups.  There was an almost HR-Power kind of protest movement/counterculture developing on the fora...  A lot of the most famous characters were very active during January 2007.  2Mils was at its peak, something like 15% of all January loans were through them...

They had the rug yanked out from underneath them though when Prosper jacked up the minimum credit score... 

It was in January that I thought "this isn't really going to work"... In February, I got high off the koolaid, but by March it had worn off just in time for 3/30.

February 2007 really was a watershed moment for Prosper, looking back.  It felt like one at the time, too.  But it was hard to admit how things were playing out.

[bamalucky]

HR is a scapegoat..There were no HR in November 2007 which is 27% late.

[bamalucky]

Now 41.31% late

http://www.lendingstats.com/loansFunded

[bamalucky]

41.94% now late

http://www.lendingstats.com/loansFunded

[Xyrus]

Woohoo! Pretty soon we will be at the point where flipping a coin would be just as effective at loan picking!

~X~

[christoofar215]

It's now 42.73%

ETA:   For lender's sake... be glad Prosper shut down. 

October 08, the last month Prosper was in business, more dollars are LATE than have been PAID

Month      Loans originated    PAID     LATE       DEF.    Delinq %
Oct 08   $2,892,149   $59,629   $75,399   $0   2.49%

[onthefence]

It's now 42.73%

ETA:   For lender's sake... be glad Prosper shut down. 

October 08, the last month Prosper was in business, more dollars are LATE than have been PAID

Month      Loans originated    PAID     LATE       DEF.    Delinq %
Oct 08   $2,892,149   $59,629   $75,399   $0   2.49%

Strange.  Even for prosper.  I wonder what the cause of such exceptionally poor performance was.  Were prosper employees in a WGAF mode?  Was management in a WGAF mode?

[Fred93]

October 08, the last month Prosper was in business, more dollars are LATE than have been PAID

Month      Loans originated    PAID     LATE       DEF.    Delinq %
Oct 08   $2,892,149   $59,629   $75,399   $0   2.49%

In this case, "PAID" means total $ loans "paid in full". 

Comparing that number to total $ loans "late" is not meaningful.

[christoofar215]

October 08, the last month Prosper was in business, more dollars are LATE than have been PAID

Month      Loans originated    PAID     LATE       DEF.    Delinq %
Oct 08   $2,892,149   $59,629   $75,399   $0   2.49%

In this case, "PAID" means total $ loans "paid in full". 

Comparing that number to total $ loans "late" is not meaningful.

I think it is symbolic (whether there's a true co-relation or not could only be proven by going through more recessions)

[agentpaul001]

Now up to 43.71%.....feel for you lenders.

Seems almost certain that at least a few months will tip over 50% at this rate.

[christoofar215]

Any idea what the % is now?



FWIW, I think I found a fundamental reason why the February 07 loans were so bad.


This famous listing was made in February 07.   Could this be a coincidence??

http://www.prosper.com/lend/listing.aspx?listingID=102255

[ira01]

FWIW, I think I found a fundamental reason why the February 07 loans were so bad.

This famous listing was made in February 07.   Could this be a coincidence??

http://www.prosper.com/lend/listing.aspx?listingID=102255

 
I knew it was going to be that one before I even clicked on it!

[christoofar215]

FWIW, I think I found a fundamental reason why the February 07 loans were so bad.

This famous listing was made in February 07.   Could this be a coincidence??

http://www.prosper.com/lend/listing.aspx?listingID=102255

 
I knew it was going to be that one before I even clicked on it!

What you mean this picture?   





102255 is gonna be my new passwordz!   

[bamalucky]

http://www.prosper.com/lend/performance.aspx?af=0&esba=63&gm=0&gr=0%2c1%2c2%2c3%2c4%2c5&hw=0&iba=255&ibid=0&iwatch=0&lc=0%2c1%2c2%2c3%2c4%2c5%2c6%2c7&lq=&maxAmt=25000&maxDTI=1000000&maxFund=1&maxGrpTLC=1000000&minA=0&minAA=0&minAmt=0&minB=0&minC=0&minD=0&minDTI=0&minE=0&minFund=0&minGrpTLC=0&minHR=0&minNC=0&occ=&od=03%2f12%2f2009&oer=02%2f28%2f2007&osr=02%2f01%2f2007&plcgd=&plp=0&sf=11&sh=0&sn=&tg=1

Feb 2007 now 46.52% late or charged off

[christoofar215]

Any bets on it hitting 50%?


1 out of every 2 loans Prosper made that month going to default.


Wow.