Since i blogged 9 days ago Prosper now has $6,960,044 in 4+ late loans
May 13th, 2008That's right $6,960,044. $400,000 more loans are now at the default stage.1249 loans.
2008 already has 45 loans late!!!
May 11th, 2008Just a few loans in 2008 even qualify to be late as it's not officially late till a loan is 45 days overdue,however 45 people have managed to stiff the lenders already this year.Keep in mind that only 15% of late loans ever come current.
Oh yea,did i mention that prosper has 3677 late- defaulted loans in their history,not counting 66 removed for lawsuits & no telling how many due to ID theft.
March 2008 already has late loans
May 11th, 2008Barely able to qualify to go late,somehow 4 borrowers have already managed to go late on a prosper loan.
http://www.lendingstats.com/listings/292607
http://www.lendingstats.com/listings/290816
Why are all of the other p2p lending bloggers ignoring the Default Problems?
May 5th, 2008I've saw 1 other p2p blogger blog about the problem.There is a HUGE lack of coverage AKA denial going on.
How can you guys ignore the biggest news to ever come out of Prosper Marketplace Inc?
$6.5 million in late loans garner $200,000 bid from Debt buyer
May 4th, 2008Well it had to come out sooner or later.4+ lates are now worth about 3 cents on the dollar.
http://www.prospers.org/forum/doug_fooler_responds_again-t6978.0.html