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Author Topic: Prosper files another S-1a June 1, 2009, and again June 26  (Read 30849 times)

msava

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #45 on: June 27, 2009, 10:30:55 pm »
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.
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Urbi_et_Orbi

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #46 on: June 27, 2009, 10:51:24 pm »
Quote from: msava on June 27, 2009, 10:30:55 pm
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.

They can't afford to do so.  Besides, Prosper has seen the full credit reports...   :)
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

Fred93

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #47 on: June 28, 2009, 02:03:20 am »
Quote from: msava on June 27, 2009, 10:30:55 pm
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.

That would be more than necessary.  They only need to buy the 40% that default.
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Capital_Finance_Group

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #48 on: June 28, 2009, 12:47:54 pm »
Quote from: msava on June 27, 2009, 10:30:55 pm
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.

I agree - however - I want them to buy the currents, the lates and the charge-offs - I'll keep the paid-offs for myself.
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Capital_Finance_Group

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #49 on: June 28, 2009, 12:49:26 pm »
Quote from: Urbi_et_Orbi on June 27, 2009, 10:51:24 pm
Quote from: msava on June 27, 2009, 10:30:55 pm
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.

They can't afford to do so.  Besides, Prosper has seen the full credit reports...   :)

Urbi - Why did you dash my dreams to bits  ::) ::) ::)
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Capital_Finance_Group

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #50 on: June 28, 2009, 12:51:43 pm »
Quote from: Fred93 on June 28, 2009, 02:03:20 am
Quote from: msava on June 27, 2009, 10:30:55 pm
I think Prosper should just offer to buy all the old loans. This will free them to start new with new rules.

That would be more than necessary.  They only need to buy the 40% that default.

Thank goodness Fred gave me some of my hope back - really all I care for is that they stay in business long enough to fully terminate any meaningful activity that might occur in my account.
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xraider

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #51 on: June 28, 2009, 08:00:28 pm »
Bleah.  Still won't invest anything more.  I hope that I don't come out negative at the end of this.

If anyone asks me, I will urge them to stay away from P-2-P lending to strangers, and will explain that the risks just aren't worth it.

I will be so glad when my 3 years of Prosper have ended.  I "invested" (ok, made stupid decisions with my community property funds) between January and November, 2007, so my first loans (? notes?) will start to pay off in 6 months.  I wonder if any of my 1 year + ch 11s will have even made one payment by then???
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msava

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #52 on: June 28, 2009, 10:03:39 pm »
It may take longer than 3 years to get everything out. My 3 years are up and I still have about 5k in Prosper.
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Mtnchick

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #53 on: June 28, 2009, 11:44:32 pm »
We are still the red headed step children.
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Investar

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #54 on: July 09, 2009, 08:12:15 pm »
Well folks, looks like the title of this thread needs updated again. "Prosper files another S-1a June 1, 2009, and again June 26, and again July 9, 2009. It's only been 12 days since #5, here's #6.

http://www.sec.gov/Archives/edgar/data/1416265/000141626509000017/0001416265-09-000017-index.htm
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bamalucky

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #55 on: July 09, 2009, 08:13:40 pm »
What is Prosper again?


Oh yeah,it's that place where I got all these late loans
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Urbi_et_Orbi

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #56 on: July 09, 2009, 08:35:15 pm »
Quote
The fact that Prosper will have the exclusive right and ability to investigate claims of identity theft in the origination of loans creates a significant conflict of interest between Prosper and the lender members.


Prosper has the exclusive right to investigate claims of identity theft and determine, in its sole discretion, whether verifiable identity theft has occurred. Verifiable identity theft triggers an obligation by Prosper to repurchase a loan.  As Prosper is the sole entity with the ability to investigate and determine verifiable identity theft, which triggers its repurchase obligation, a conflict of interest exists. Lender members will be relying solely on Prosper to investigate incidents which might require Prosper to repurchase a loan. The denial of a claim under Prosper’s identity theft guarantee would save Prosper from its repurchase obligation.

No shit!
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

Urbi_et_Orbi

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #57 on: July 09, 2009, 09:48:30 pm »
Some wildly fascinating data in this filing related to defaults, recoveries and loan modifications.
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Mothandrust: "Why's he off the ballot in Colorado but it's OK for the other 48 states and Hawaii to vote for him"
https://www.prospers.org/forum/index.php?topic=37264.msg807090#msg807090

bamalucky

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #58 on: July 09, 2009, 09:50:35 pm »
Quote from: Urbi_et_Orbi on July 09, 2009, 09:48:30 pm
Some wildly fascinating data in this filing related to defaults, recoveries and loan modifications.

you convinced me to look
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bamalucky

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Re: Prosper files another S-1a June 1, 2009, and again June 26
« Reply #59 on: July 09, 2009, 09:54:23 pm »
Quote
For the period from September 1, 2007 through August 31,2008, 22.6% of listings that had bids totaling 70% or more of the requested loan amount (3,486 out of 15,436) were selected for income and employment verification.  Of this population, 1,966 (37.7%) failed to respond or provided unsatisfactory information in response to the request.  This verification is normally done after the listing has been created and bidding is substantially completed, but before the loan is funded, and therefore the results of our verification are not reflected in the borrower listings

What about before then?
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