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[JammingJAY]

Anton ponies it up.

http://www.prosper.com/invest/listing.aspx?listingID=414862


 

ETA: Must be the 1.28% discount on the note. 

[Urbi_et_Orbi]

CPS is a specialty finance company that provides automobile financing for new and used vehicles for less creditworthy consumers.

Enough said.

[brianguy]

So many questions.Who will Repo these cars.Does these car companies still own part of the note & will they own the entire repo car while Prosper lenders are left with nothing?

Amsher, of course

[brianguy]

Anton ponies it up.

http://www.prosper.com/invest/listing.aspx?listingID=414862


 

ETA: Must be the 1.28% discount on the note. 

Pontiac   

[ira01]

CPS is a specialty finance company that provides automobile financing for new and used vehicles for less creditworthy consumers.

Enough said.

Yeah, I see a lot of deficiency judgment cases in small claims court, where these auto finance companies are seeking to hold the borrowers responsible for the balance still owed after sale of the repossessed car.  They are almost always default judgments, since the borrowers almost never show up.  I wonder how many of these judgments they actually collect anything on? 

So what's to stop the finance companies from immediately placing the loan on Prosper when the borrower calls and says "sorry, I won't be able to make any more payments"?

[James072466]

So I guess the quiet period will be over soon?

been like 4 months now, right?

If it happens, I expect April.

Prosper opening totally flew under my radar - but I called it!  Woot Woot!

[ira01]

Unless I missed it, I don't see your account balance listed anywhere.  All I see is your remaining principal balance, without the accrued interest on the active loans.  That makes it impossible to get accurate XIRRs.    

[bamalucky]

CDS

Car
Default
Swaps

[Gogmagog]

If companies can lend here...

Is is P2P anymore?  PB2PB? 

I like PB&J Lending (Personal, Business, and Junk)

[Loan_shark_74]

Unless I missed it, I don't see your account balance listed anywhere.  All I see is your remaining principal balance, without the accrued interest on the active loans.  That makes it impossible to get accurate XIRRs.    

You can have accurate XIRR's. Your XIRR will just not reflect accrued, but unpaid, interest. Think of it like a CD; once a month your value updates with accrued interest compounded in to your balance. The list of bad loans in your XIRR document must include only outstanding principal. Essentially, this is a more accurate XIRR, because it reflects only interest earned that you have actually recieved not accrued.

[112233]

bidding on your junk sounds like a different type of site

[misssalaska2000]

CDS

Car
Default
Swaps

That just made me LOL. 

I smell a disaster coming, and I'm not even the sharpest tool in the shed when it comes to business practices.

[christoofar215]

Ok so I noticed mint.com stopped working on Prosper so I went into Prosper and logged in to my horror... PROSPER IS BACK

So I went to the bidding screen to see what the new restrictions are and it appears only California residends can lend.   I'm assuming Prosper is restarting their effort to get re-licensed in all 50 states again.


 

[ira01]

Unless I missed it, I don't see your account balance listed anywhere.  All I see is your remaining principal balance, without the accrued interest on the active loans.  That makes it impossible to get accurate XIRRs.    

You can have accurate XIRR's. Your XIRR will just not reflect accrued, but unpaid, interest. Think of it like a CD; once a month your value updates with accrued interest compounded in to your balance. The list of bad loans in your XIRR document must include only outstanding principal. Essentially, this is a more accurate XIRR, because it reflects only interest earned that you have actually recieved not accrued.

Yes, but it makes the XIRR jump around from day to day, for no good reason.  Accrued interest (at least on current loans) should be included in the account balance.

[christoofar215]

bidding on your junk sounds like a different type of site

Yeah it's called ManHunt.com