Prosper.com is simply not sustainable at the moment

[Urbi_et_Orbi]

Considering today is February 1, it didn't make sense to me to search beyond today's date.  Once I broaden the search, the result is the same...that Prosper only originated 2 loans today.

[NewHorizon]

After you "broaden" it, look again at the date range.
The Feb 28 reverts back to Feb 1.
I don't think the system takes anything beyond the current date...?

[Fred93]

Considering today is February 1, it didn't make sense to me to search beyond today's date.  Once I broaden the search, the result is the same...that Prosper only originated 2 loans today.

Duh!  I fell for that one.

[bamalucky]

Urbi,it's because they shoved 81 loans through on Friday. For $400k

[Urbi_et_Orbi]

Urbi,it's because they shoved 81 loans through on Friday. For $400k

That's a lot of loans to push through on the last work-day of the month...and it still resulted in a significant drop in monthly originations.

Then again, I don't think anyone is suprised at this point to see Prosper attempt to stuff the pipe whenever they get close to the ed of the month.

[bamalucky]

WTF? 20% of January loan originations in the last day of the month?

[Urbi_et_Orbi]

I suspect this is another area due for some historical analysis.

[bamalucky]

I suspect this is another area due for some historical analysis.

I'd be willing to bet that loans originating on the last work day of each month are performing worse than the other days

[The_Cat]

I'm waiting for Prosper to issue a press release that loan volume is down due to lack of borrower demand. 

[Urbi_et_Orbi]

I pulled daily originations for Prosper 3.0 (date, # of loans, total daily amount)

There is certainly some interesting groupings late in several months, followed by some interesting early groupings.

It would seem difficult for anyone to argue that there are no unusual patterns of loan origination.

Date   # of Loans   Amt Originated
7/20   1   $3,500
7/22   3   $8,000
7/23   1   $6,500
7/24   1   $2,600
7/27   2   $2,000
7/28   1   $1,500
7/29   2   $12,500
7/30   5   $12,250
7/31   3   $6,700

8/3   9   $35,050
8/4   7   $30,800
8/5   8   $21,700
8/6   16   $80,800
8/7   16   $90,550
8/10   10   $46,595
8/11   14   $66,600
8/12   15   $46,280
8/13   25   $87,999
8/14   8   $22,050
8/17   8   $30,500
8/18   18   $52,900
8/19   22   $86,500
8/20   9   $17,415
8/21   3   $18,900
8/24   6   $10,500
8/25   13   $59,175
8/26   7   $20,497
8/27   7   $18,300
8/28   19   $48,600
8/31   8   $13,600

9/1   17   $95,899
9/2   29   $89,950
9/3   11   $43,325
9/4   12   $36,090
9/8   11   $44,225
9/9   23   $91,850
9/10   11   $57,050
9/11   13   $39,525
9/14   3   $27,000
9/15   16   $66,610
9/16   24   $78,690
9/17   10   $50,090
9/18   14   $89,800
9/21   10   $26,300
9/22   10   $29,750
9/23   16   $66,648
9/24   20   $75,916
9/25   21   $67,120
9/28   4   $27,340
9/29   14   $31,500
9/30   28   $87,700

10/1   23   $97,039
10/2   10   $82,500
10/5   6   $26,337
10/6   14   $50,100
10/7   13   $41,450
10/8   8   $44,176
10/9   12   $55,425
10/13   15   $65,000
10/14   41   $158,850
10/15   25   $90,400
10/16   19   $79,699
10/19   17   $77,205
10/20   30   $112,946
10/21   24   $98,178
10/22   22   $106,600
10/23   20   $57,375
10/26   15   $61,700
10/27   64   $362,799
10/28   36   $158,635
10/29   27   $131,759
10/30   17   $53,550

11/2   19   $80,200
11/3   23   $84,909
11/4   20   $112,800
11/5   19   $91,400
11/6   23   $113,837
11/9   29   $148,750
11/10   22   $92,730
11/12   25   $129,696
11/13   41   $196,277
11/16   20   $103,350
11/17   20   $77,350
11/18   20   $97,800
11/19   15   $71,434
11/20   25   $93,300
11/23   20   $72,963
11/24   33   $255,225
11/25   27   $124,925
11/27   34   $180,875
11/30   69   $337,700

12/1   7   $21,200
12/2   16   $61,800
12/3   20   $82,400
12/4   12   $51,080
12/7   10   $30,700
12/8   25   $82,235
12/9   14   $65,112
12/10   19   $65,175
12/11   18   $78,625
12/14   24   $106,420
12/15   27   $104,250
12/16   25   $165,849
12/17   23   $147,299
12/18   19   $63,300
12/21   27   $145,680
12/22   7   $37,550
12/23   9   $44,100
12/24   16   $64,462
12/28   4   $6,000
12/29   34   $135,350
12/30   57   $258,725
12/31   74   $408,503

1/4   9   $20,200
1/5   8   $31,600
1/6   19   $89,400
1/7   20   $122,835
1/8   7   $48,250
1/11   13   $104,400
1/12   12   $55,150
1/13   23   $105,900
1/14   12   $93,050
1/15   20   $96,300
1/19   13   $77,636
1/20   20   $90,765
1/21   24   $83,048
1/22   22   $54,200
1/25   29   $195,800
1/26   35   $139,709
1/27   24   $148,245
1/28   37   $145,999
1/29   44   $250,911

2/1   2   $3,500
2/2   11   $44,400
2/3   2   $4,250
2/4   22   $124,750
2/5   4   $5,000
2/8   12   $88,000
2/9   17   $77,800
2/10   17   $87,787
2/11   17   $66,300
2/12   19   $58,200
2/16   17   $105,207
2/17   21   $119,800
2/18   13   $64,200
2/19   21   $94,300
2/22   10   $67,500
2/23   37   $222,280
2/24   22   $118,800
2/25   25   $125,150
2/26   68   $240,881

[Xenon481]

Nominating to The Lobby. Again.

[Mark12547]

Nominating to The Lobby. Again.

Ask, and you will receive.

[mothandrust]

I'm waiting for Prosper to issue a press release that loan volume is down due to lack of borrower demand. 

Well I won't be putting up a listing for another 57 days, that's for sure!

[christoofar215]

I'm waiting for Prosper to issue a press release that loan volume is down due to lack of borrower demand.  

The credit card companies are openly admitting that overall borrowing demand is down---I'm sure the Prosper Blog will just repeat whatever chaff they read in the finance blogosphere and attach their woes to that.


Prosper however does not mimic the consumer borrowing market.   The anonymity of Prosper attracts scammers which are plentiful no matter what the economic conditions are.


If Prosper wanted to say "good borrowers left, while the crap ones mostly remain"   then I would have no objections to that statement.

[Urbi_et_Orbi]

Once again, looks like February originations are following the trend of lagging the previous month.

Total net charge-offs now approaching $43 million - with another $2+ million getting ready to circle the drain.