GeneralPython

[GeneralPython]

Hello Prospers.org community.   

I chatted with <bama> on this site's chat and he recommended that I register for the forums.   I am MNDirtBike in prosper.   I am a lender.   I lent a nominal amount ($500) to see what my results might be.   I got two defaults including one AA credit rating that was for a condo conversion.  When I got the AA default I was a bit upset as you can imagine.  I am thinking... Am I just unlucky? or are these things defaulting at a higher rate than advertised?   

I am now thinking that the best way to make money on prosper is to be a borrower.    I have an AA credit rating (which at least in my case means something) and I know I can get a better ROI with investments elsewhere.
Any comments?

Roger

[cubbiesnextyr]

Welcome...

I think you can get a better ROI than investing in Prosper somewhere else (under your mattress for instance).  Enjoy the next 3 years stuck here with us...

[GeneralPython]

Thanks cubbies.
I am thinking that in the end I will have some sort of positive return... but it won't be much.     Love the mattress comment though!

Roger

[cowdog]

I am now thinking that the best way to make money on prosper is to be a borrower...

Any comments?

Roger

Borrow and don't repay, just like 20%+ of Prosper borrowers.

Sure fire way to make money!

[GeneralPython]

I would like to ask the community, what is the best non-prosper site with the best data to determine average default rates for each credit rating???      I would like more detailed information than just overall 20% default.   I know ericscc has some data.

Thank you.

P.S.  I plan to do an exacting analysis of my prosper lending results and post them here so I can know exactly to the penny what my results are up until now.    From there, I will begin posting in other areas of prosper.org.

[iLIE]

I would like to ask the community, what is the best non-prosper site with the best data to determine average default rates for each credit rating???      I would like more detailed information than just overall 20% default.   I know ericscc has some data.

Thank you.

P.S.  I plan to do an exacting analysis of my prosper lending results and post them here so I can know exactly to the penny what my results are up until now.    From there, I will begin posting in other areas of prosper.org.

There isn't one because none show the 6.5 million (& growing) in 4 month + lates that prosper won't sell.These 1200 loans are more money than all the other debt sales totaled together.

[ira01]

You may want to look at http://www.rateladder.com/2008/03/05/prosper-vintage-curve-update-312008/.  This shows the percentage (by dollars) at least 1-month late plotted against loan age, separately for each credit grade.