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[ccat]

Stick a fork in her, she's done.

[ira01]

If you're a borrower seeking a loan, you will still be able to create a new loan listing, which we will endeavor to fulfill through alternative sources.

I wonder what this means?  Is Prosper planning on bidding on some loans with its own money?  I find that hard to believe.  Didn't LC say something similar when it shut down, and then few, if any, loans actually got funded?

[bamalucky]

Is Prosper planning on bidding on some loans with its own money?  I find that hard to believe.

How much you wanna bet they check EVERY loan for scams when their money is on the line.

[Urbi_et_Orbi]

If that is the case, Prosper has loads of internal staff with nothing better to do than vet loans and further manipulate performance stats.

[bamalucky]

If that is the case, Prosper has loads of internal staff with nothing better to do than vet loans and further manipulate performance stats.

How about calling a few late payers?

[Urbi_et_Orbi]

If that is the case, Prosper has loads of internal staff with nothing better to do than vet loans and further manipulate performance stats.

How about calling a few late payers?

I think they would argue that this would violate their quiet period.   

The bright side of this is that we can say pretty much whatever we want for the next few months - and Prosper won't be able to comment.
Journalists may be forced to speak with actual LENDERS.   

[ira01]

Is Prosper planning on bidding on some loans with its own money?  I find that hard to believe.

How much you wanna bet they check EVERY loan for scams when their money is on the line.

I actually hope that Prosper does fund some loans with its own money, because I would definitely like to know the percentage of those loans selected for verification, versus the usual percentage. 

[bamalucky]

I think it's a last ditch to save what they can,because total loans funded just keeps going down every month.

Now they have a handy excuse.

[HollowOak]

I am by no means the most capable sleuth on these boards. Nor can I find my way around SEC filings and EDGAR blindfolded.

However, this is what I found.

SEC discussion of the term "Quiet Period."

Note the following:

... historically, a quiet period extended from the time a company files a registration statement with the SEC until SEC staff declared the registration statement "effective." During that period, the federal securities laws limited what information a company and related parties can release to the public.

There is some reference to a relaxation of the regulations in 2005. (Stay with the first-referenced text, it is intended for laymen, this one is eye-popping dense.) If you feel compelled to delve into what Prosper might be able to say or might not be able to say, then CCG Investor Relations  wrote an analysis, but mainly geared to pre-IPO companies planning an IPO.

The long and the short of it is that Prosper must have recently filed (or perhaps are pre-announcing a new filing within 30 days) some documents with the SEC.

This leads to an SEC EDGAR search. Surprisingly, there are two very closely named companies.  Prosper Marketplace, Inc. and Prosper Markplace, Inc. They seem to be near neighbors, with the former located at:
111 SUTTER STREET
22ND FLOOR
SAN FRANCISCO CA 94104

and the latter at:
153 KEARNY ST
MEZZANINE LEVEL
SAN FRANCISCO CA 94108

I do also, somehow, recollect that at some point in time Prosper occupied a mezzanine somewhere. Of course, I may be mistaken.  The latter company filed two submissions to the SEC in 2006 and one in 2007.

Prosper Marketplace filed one on Oct, 30, 2007. That is the most recent filing for either of these companies.

So, unless Prosper files another submission within 30 days, I do not see why they have not entered the "Quiet Period" sometime in October 2007.

Interestingly enough, of one does a broad Google search of the term "Quiet Period SEC" the following hits are on the first page:

• SEC definition of "Quiet Period" and some sites discussing the SEC Quiet Period regulations
• LendingClub's announcements of entering and exiting their Quiet Period and many discussions surrounding that.

But no other companies. Strange innit?

[bamalucky]

153 KEARNY ST
MEZZANINE LEVEL
SAN FRANCISCO CA 94108

They used that address when the sent the CD to prosperreport.com

[Mtnchick]

If I was a borrower with a loan that was being prevented from being bid down, I would be highly irate. 

[ira01]

If I was a borrower with a loan that was being prevented from being bid down, I would be highly irate. 

Yep.  Of course, they can always decline the loan.

[DakotahFury]

Shhhh...it's quiet time.

[NewHorizon]

If I was a borrower with a loan that was being prevented from being bid down, I would be highly irate. 

Yep.  Of course, they can always decline the loan.

But ya know...
there will undoubtedly be at least a FEW borrowers who never got wind of this quiet period, and took the loan without even noticing that altho' fully funded, bids had abruptly stopped prior to the listing's expiration.

[Mtnchick]

If I was a borrower with a loan that was being prevented from being bid down, I would be highly irate. 

Yep.  Of course, they can always decline the loan.

True, but that's not what they signed up for when they put their loan out. This whole "SURPRISE!" thing is just odd.