Print

Yes

22 (13.5%)

Maybe

26 (16%)

No

115 (70.6%)

Total Members Voted: 160

[bluestar148]

Yes, I will lend again even if Prosper does not make any beneficial improvements.  My 57K porfolio is a few hundred dollars in the black (assuming that all my 27 lates will become future defaults) and should improve since the worst loans have already been eliminated.

http://www.ericscc.com/lenders/HighFired3000F

Sorry to break this to you HighFired3000F, but your portfolio is going to continue to drop at a steady rate.  Check your portfolio again once the average age hits 365 days.

This is true.

It's only in the black once you've taken out of Prosper more than you put in.  Until then, it's not.

[pjz]

Yes, I will lend again even if Prosper does not make any beneficial improvements.  My 57K porfolio is a few hundred dollars in the black (assuming that all my 27 lates will become future defaults) and should improve since the worst loans have already been eliminated. 

In case you have not looked at the data, the default rate does not decrease with age. See:

http://fred93blog.blogspot.com/

[God-Father]

Yes, I will lend again even if Prosper does not make any beneficial improvements.  My 57K porfolio is a few hundred dollars in the black (assuming that all my 27 lates will become future defaults) and should improve since the worst loans have already been eliminated. 

In case you have not looked at the data, the default rate does not decrease with age. See:

http://fred93blog.blogspot.com/

The loan rate may not decrease, but the damage done does, as the amount of principal lost reduces.

[Navy-slush-fund]

Im still looking to participate in one of those Pioneer11 loans....

[mhs505]

Yes, I will lend again even if Prosper does not make any beneficial improvements.  My 57K porfolio is a few hundred dollars in the black (assuming that all my 27 lates will become future defaults) and should improve since the worst loans have already been eliminated.  I reviewed the given data very carefully before selecting loans, but the return so far is well below expectations.  I started investing in stocks for the first time in my life three weeks ago, the results have been fantastic, and the chance of my broker going BK is much less than that of Prosper.

Huh?

[mhs505]

Maybe, we will have to see.   Right now all of my extra money is going into our houses and rental properties. 

[HighFired3000F]

Yes, I will lend again even if Prosper does not make any beneficial improvements.  My 57K porfolio is a few hundred dollars in the black (assuming that all my 27 lates will become future defaults) and should improve since the worst loans have already been eliminated.  I reviewed the given data very carefully before selecting loans, but the return so far is well below expectations.  I started investing in stocks for the first time in my life three weeks ago, the results have been fantastic, and the chance of my broker going BK is much less than that of Prosper.

Huh?

My Prosper portfolio showed little change since I made this post (new lates keep comming, but at a slower rate as I expected), but my stock trading is still zooming.  13 of my trades have been winners with a total gain of over 10K and my only loser was just $140.  I closed out almost all positions today due to the flu threat.  So now I decided not to lend at Prosper again unless they make basic improvements that benefit the lenders.

[snoopy714]

No. Never.

[divindj]

"Prosper LIES and Portfolios DIED" ... just remember that phrase before putting one penny into them. 

They lied about returns
They lied about defaults
They lied about income-verification
They lied about collections

The only lie they didn't tell was the fees they charge upon generating the loan and their cut after each payment.

[112233]

and now with these 3rd party note sellers, they can throw their hands up and point to them

[hanumanhojo]

Fundamental flaw with Prosper is it is built around the securitization model.  With the securitzation model, ownership of the note becomes so dispersed that no one effectively owns the debt.  Thus the problem with see with collections.

Under the old concentratated ownership model, if a deadbeat defaults, the debt owner can go after the deadbeat aggressively because there is a minimizing losses financial incentive.  Here, debt becomes a collective good so no one cares.  None of us are going to go kneecap some deadbeat over $50.  However, if the amount was $15K, that's a completely different story.

[ToySoldier]

Yeah, because Prosper has been one of the greatest learning experiences ever. For a couple of bucks I got to peer inside the dark heart of the human soul.

I....see....dead...beats...!!!

CZ

LOL

[wilmetteskeptic]

Loan again, NO frikkin way. The borrowers/stealers were a lot smarter then me.

[Chamatrain]

......None of us are going to go kneecap some deadbeat over $50.  .......

Hmmm.  Not even for the vigilante thrill, or the "good of the party?"  Nah, of course not. 

[Staneslav]

a