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Author Topic: First Prosper V.3 loan headed toward the crapper  (Read 17797 times)

Nora_Lenderbee

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #15 on: January 11, 2010, 06:31:43 pm »
Quote from: Urbi_et_Orbi on January 11, 2010, 03:09:04 pm
First 3.0 loan has now passed 3 months late.

From Eric's:
Status History
Aug 06, 2009 Current
Nov 14, 2009 1 month late
Dec 07, 2009 2 months late
Jan 07, 2010 3 months late

So they made the first payment, and that's it?

Oh, and their other loan is now 1 month late.
« Last Edit: January 11, 2010, 06:33:14 pm by Nora_Lenderbee »
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TotoMMB

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #16 on: January 11, 2010, 06:52:23 pm »
The two 2-month lates look like they didn't make a single payment. But debtcar will probably take the gold medal for being the first 3.0 loan to go belly up. Of course, he won't be alone in the default column for long.
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brianguy

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #17 on: January 11, 2010, 07:45:03 pm »
Quote from: Nora_Lenderbee on January 11, 2010, 06:31:43 pm
Quote from: Urbi_et_Orbi on January 11, 2010, 03:09:04 pm
First 3.0 loan has now passed 3 months late.

From Eric's:
Status History
Aug 06, 2009 Current
Nov 14, 2009 1 month late
Dec 07, 2009 2 months late
Jan 07, 2010 3 months late

So they made the first payment, and that's it?

Oh, and their other loan is now 1 month late.


seems like they made 2 payments, I could be wrong but apparently yes nothing more than that.
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God-Father

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #18 on: January 11, 2010, 08:29:31 pm »
Currently 22 Propser 3.0 late or worse

Late:                14    1%
1 month late:       5    0%
2 months late:     2    0%
3 months late:     1    0%
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Urbi_et_Orbi

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #19 on: January 14, 2010, 07:07:50 pm »
I wonder if it will give current lenders pause to start seeing lates show up in their portfolios this early on?

I remember well my surprise when loans started going delinquent on the first payment.

Prosper Andrew used to tell us Prosper didn't expect delinquencies early in the game, since borrowers had just been provided with an infusion of cash, which they could use to service their loan obligations.

Pfft...

« Last Edit: January 14, 2010, 07:21:33 pm by Urbi_et_Orbi »
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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

Mtnchick

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #20 on: January 14, 2010, 07:14:15 pm »
Any reason this isn't in the lobby?
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Classic comment from Urbi to a poster who said they were leaving:

"Once again, we note that your threats are hollow and you come across like a sad, lonely blowhard.

I doubt anyone here gives a shit about you.  We pretty much all know that you are a vile and unethical parasite of a human being with an abnormal craving for attention."

God-Father

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #21 on: January 14, 2010, 07:28:51 pm »
OK with me.
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NewHorizon

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #22 on: January 15, 2010, 01:39:29 pm »
Second.

ETA: For you onlookers, "Anton" is Prosper's CEO.
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ResearchPro

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #23 on: January 15, 2010, 02:30:13 pm »
This is ridiculous. Everybody here is mentioning absolute numbers when they have to compare relative ones.
Prosper V.3 has X late loans out of how many originated?
And this is to be compared with Fred's data on old Prosper.
Only then you can try to draw conclusions.
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kenL

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #24 on: January 15, 2010, 03:17:38 pm »
it looks like the first defaulted 2.0 or 3.0 loan has been recovered. It was one of those loans made in May before prosper closed shop again and reopened again in July. I wonder how it was recovered. Do you think prosper may have paid it off themselves? Then they can still claim zero post registration default losses for a while longer. I also wonder how much of those recovered funds the lenders recieved.
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Urbi_et_Orbi

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #25 on: January 15, 2010, 03:40:59 pm »
Somebody needs to read the title and context of the thread...
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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: First Prosper V.3 loan headed toward the crapper
« Reply #26 on: February 08, 2010, 07:03:28 pm »
3...2...1...and we have our first P3.0 CHARGE-OFF!

Congratulations, everyone!
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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

JammingJAY

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #27 on: February 08, 2010, 07:16:10 pm »
Quote from: Urbi_et_Orbi on February 08, 2010, 07:03:28 pm
3...2...1...and we have our first P3.0 CHARGE-OFF!

Congratulations, everyone!

 :D :D

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The old rule has changed: it seems that people now do have a right not only to their own opinions, but to their own facts.

I'm now trysexual. The GLBT folks are so behind (no pun).

TotoMMB

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #28 on: February 08, 2010, 07:27:39 pm »
Ah, debtcar...welcome to the Hall of Shame for being the first one to break the 3.0 seal. Also, we can celebrate again when his 2nd loan goes to default (which he said would be paid by this 3rd one. Oops).

The really sad thing is that on the current 3.0 lates, only two of them (out of 29, incl. debtcar) were for $10K or more. When you're defaulting on a loan that's only $37/mo. (using 1 example), that's truly sad.

And probably not surprising, 12 of the 29 have previous loans (don't know the status of those, they may or may not be paid off).

*edit* to add more data
« Last Edit: February 08, 2010, 07:35:41 pm by TotoMMB »
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christoofar215

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Re: First Prosper V.3 loan headed toward the crapper
« Reply #29 on: February 08, 2010, 09:46:12 pm »
He busted Prosper 3.0's hymen.

Now Prosper will get pregnant with defaults
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