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[tekiegreg]

He is #1, ....

Being your own best customer probably isn't a good thing.

Hey, ppl have been calling for some skin in the game...this should count. Unless all of the bids are to send his pops to Hawaii again.

A thought, anyone bidding just so they can cough up the $500 for the verified forum? Is it that valuable now 

[czach]

I wonder how much is due to lenders finally waking up about Prosper, and how much is due to Prosper only being open to lenders in a subset of states.  Although given the dismal statistics, I would have to think it is more the former than the latter.

I don't know. However there's also the dynamic of Prosper being perceived as more of a "dick" in some lending circles, and people holding onto their money.

I'm in MD now and can't invest, but I do have a backup of a few thousand in the "bid on Prosper loans" kitty and to be honest Prosper did beat many of my other investments (even with the Ericscc of -2% ROI) over the last 2-3 years. Well, not Ford and FNM but...

So if Prosper cleaned up their act some, attracted lenders worth something (drop the 3% orig fee, come on...)  and actually put some effort into dealing with deadbeats (even ineffective ones like suing the fucks) I'd probably bid again. It's not a bad idea, and with traditional credit markets tightening in 2009-2010 this could be a viable source of income and loans.

But I doubt it. Prosper seems to have fucked a lot of goodwill. The bitch is they actually laid some groundwork that will be ground up and destroyed. Kind of like the GM EV1. Ah well.

CZ

[Urbi_et_Orbi]

In the next 24 hours, I expect Prosper to close ONE single loan - in the amount of $2,500.

Unless the Prosper staff or members of their immediate families can find more loose change in their desk drawers, the famed porn star loan will fail.

[czach]

In the next 24 hours, I expect Prosper to close ONE single loan - in the amount of $2,500.

Unless the Prosper staff or members of their immediate families can find more loose change in their desk drawers, the famed porn star loan will fail.

If only they would let her post some of her services as collateral for the bidders.

Hm. I sense a business opportunity here. I always wanted to wear a purple fur trimmed hat....

CZ

[mothandrust]

We should all shut up and be Prosper cheerleaders now; if they don't start funding lots of loans and raise more VC cash, how will they pay off the lawsuit?

[ira01]

We should all shut up and be Prosper cheerleaders now; if they don't start funding lots of loans and raise more VC cash, how will they pay off the lawsuit?

Larsen has lots of money.

[pioneer11]

Today 5 loans will fund for $28000.  That's $840 in fees.

[God-Father]

Today 5 loans will fund for $28000.  That's $840 in fees.

And $11,200 in loans that will default.

[Fred93]

Today 5 loans will fund for $28000.  That's $840 in fees.

And $11,200 in loans that will default.

oops need to edit this comment

[Nora_Lenderbee]

Today 5 loans will fund for $28000.  That's $840 in fees.

And $11,200 in loans that will default.

oops need to edit this comment

It's the 40% default rate.

[TotoMMB]

Today 5 loans will fund for $28000.  That's $840 in fees.

And $11,200 in loans that will default.

I wonder if the default would be less, considering less junk is getting funded...It seems rare to see a $25K loan or anyone north of a "C" rating getting funded.

[Urbi_et_Orbi]

I was just about to report on this loan

http://www.prosper.com/invest/listing.aspx?listingID=420300

Just ended...

Requested $1,450, offering 20.89%.

Was sitting at 95% funded and looked like it wouldn't fund, which would be an almost unheard of event in old Prosper.

It's a pretty crappy loan, which Prosper in it's infinite wisdom has seen fit to label an "8" - now how this ranks an 8 after reviewing the details is pretty unbelievable.
 
The loan was sitting there ready to die quietly until the very last second, when user IM-SHARKY bumped off the entire loan.

I suspect IM-SHARKY will soon be known as IM-SORRY.


ETA:  Found this pretty funny (see how Prosper is trying to come up with subtle, value-neutral names).

Screen name Date changed   
IM-SHARKY  Aug-14-2009 
trustworthy-transaction  Aug-13-2009 

[ira01]

The loan was sitting there ready to die quietly until the very last second, when user IM-SHARKY bumped off the entire loan.

I suspect IM-SHARKY will soon be known as IM-SORRY.

Holy crap, IM-Sharky has 38 active bids at the moment.  Talk about jumping in with both feet!   

[Beerbud1]

The loan was sitting there ready to die quietly until the very last second, when user IM-SHARKY bumped off the entire loan.

I suspect IM-SHARKY will soon be known as IM-SORRY.

Holy crap, IM-Sharky has 38 active bids at the moment.  Talk about jumping in with both feet!   

Well He changed his screen name to IM-sharky, that says it all.  In six months it will be IM-STUPID. 

[TotoMMB]

The loan was sitting there ready to die quietly until the very last second, when user IM-SHARKY bumped off the entire loan.

I suspect IM-SHARKY will soon be known as IM-SORRY.

Holy crap, IM-Sharky has 38 active bids at the moment.  Talk about jumping in with both feet!   

Well He changed his screen name to IM-sharky, that says it all.  In six months it will be IM-STUPID. 

Just one more sign that Prosper has "jumped the shark (-y)"