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[bamalucky]

$38,829,498 charged off

7,534 loans

Thats out of 180m

http://www.prosper.com/invest/performance.aspx?af=0&esba=63&gm=0&gr=0%2c1%2c2%2c3%2c4%2c5&hw=0&iba=255&ibid=0&iwatch=0&lc=0%2c1%2c2%2c3%2c4%2c5%2c6%2c7&lq=&maxAmt=100000&maxDTI=1000000&maxFund=1&maxGrpTLC=1000000&minA=0&minAA=0&minAmt=0&minB=0&minC=0&minD=0&minDTI=0&minE=0&minFund=0&minGrpTLC=0&minHR=0&minNC=0&occ=&od=09%2f15%2f2009&oer=08%2f30%2f2009&osr=01%2f01%2f2005&pbt=0&plcsd=&plp=0&sf=10&sh=0&sn=&tg=0

Permission to move to the lobby.

[bamalucky]

Oh yeah,plus 5.5 million in some form of late.. More is defaulted than is owed

[pioneer11]

Poof, he beat me to it.

[Mtnchick]

Correction, the LENDERS have this much in charge offs.  

[bamalucky]

Hey,at least they recovered .44% 

[God-Father]

second lobby

[112233]

Hey,at least they recovered .44% 

It's bad when you require 2 decimal places. I say just round to a whole number.

[xraider]

This is truly pathetic.  There's no way Prosper will be able to settle the class action with this much owed to the lenders.

If class counsel is reading here, I urge you to add a fraud cause of action so the amount owed us suckered lenders is not dischargeable in bankruptcy.

[Fred93]

$38,829,498 charged off
7,534 loans

That was 9/15.  Today is 9/20 and the numbers have changed to
$38,923,629 charged off
7,553 loans

So that's a change of
$94,131 in 5 days = $18,826.20/day
19 loans in 5 days = 3.8 loans/day

But of course this is rough, because 5 days isn't a very long baseline, and there's a weekend in there.  

Recoveries still at [color=red0.44%[/color]    

Edited to add: Ignore these numbers.  See my message with better numbers later in the thread.

[NewHorizon]

More is defaulted than is owed

I like this sound bite.

But it occurs to me that even if Prosper loan performances were better, there would still EVENTUALLY come a time when there's more defaulted than owed.  And also more paid-in-full than owed.  Both will happen because the active loans (ie, that which is still owed) become a smaller and smaller percentage of all loans ever made as time passes.

[Fred93]

I went back to the Prosper web site and got better numbers.  I looked at "Net Charged Off $" to give Prosper the benefit of any recovery.

09/01/08 $17,641,365 net C.O.
09/01/09 $37,525,725 net C.O.

That's an average of $54,478 charged off per day.

Charge offs were highest in Feb and March of 2009, at about $2.1Mil/month.
Charge offs were lowest at the beginning and end of the above interval at about $1.3Mil/month.

[Xenon481]

That's an average of $54,478 charged off per day.

OMFG!