What Happened to Prosper on Lazy Man?The Returns Aren’t Where I Thought They Be. When Prosper came out, I used the Experian default as my main guideline. It seems that Prosper loans default a lot more often. I don’t know if I was just not informed enough to realize that differences between the Experian data and the loans I chose to participate in. For instance, I know that the Experian data applies to debt-to-income ratios under 20%, but at the time I figured that 25% wasn’t too much different. And I didn’t look at other information like delinquencies as I didn’t know how to process it. I basically made the mistake that a lot of mortgage lenders did - I took on too much risk. Unfortunately, I wasn’t a lending professional and the government won’t bail me out.
http://www.lazymanandmoney.com/what-happened-to-prosper-on-lazy-man/