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[ira01]

Once again, looks like February originations are following the trend of lagging the previous month.

And it isn't because February only has 28 days -- both January and February this year had 19 business days.  This declining loan volume must just be killing Prosper and its VCs.

[bamalucky]

This declining loan volume must just be killing Prosper and its VCs.

Aren't the VC now making loans instead of getting equity?

Think what you want but my brain says it's gonna get bloody when the loans are repaid before "lenders"

[Urbi_et_Orbi]

The last week of the month has arrived...time for Prosper to start pumping.

Date   # of Loans   Amt Originated


2/1   2   $3,500
2/2   11   $44,400
2/3   2   $4,250
2/4   22   $124,750
2/5   4   $5,000
2/8   12   $88,000
2/9   17   $77,800
2/10   17   $87,787
2/11   17   $66,300
2/12   19   $58,200
2/16   17   $105,207
2/17   21   $119,800
2/18   13   $64,200
2/19   21   $94,300
2/22   10   $67,500
2/23   37   $222,280
2/24   22   $118,800
2/25   25   $125,150
2/26   68   $240,881

[NewHorizon]

It would seem difficult for anyone to argue that there are no unusual patterns of loan origination.

Thanks, Urbi.  I didn't really realize the full extent of this until you posted these numbers.

[ira01]

It would seem difficult for anyone to argue that there are no unusual patterns of loan origination.

Thanks, Urbi.  I didn't really realize the full extent of this until you posted these numbers.

Yeah, it's totally crazy -- Prosper originated about 45% of its February total in the last 5 days.   

[Urbi_et_Orbi]

Dropped back down today - 8 loans in the total amount of $20,100.

 

[Urbi_et_Orbi]

If the first week of March 2010 is any indication, this is going to be a HORRIBLE month for Prosper.

Watch for originations to explode during the last week of March.

[kenL]

If the first week of March 2010 is any indication, this is going to be a HORRIBLE month for Prosper.

Watch for originations to explode during the last week of March.

The last several months have started out pretty horribly and March is no exception. Right now I think Prosper is more concerned with proving lenders can make a profit than they are with increasing originations. If CL finds a way to get 10 million or more before the april fools deadline then I think they'll start focusing on increasing originations, but if he cant get the funds, they are screwed.

[Senator]

kenL, If they want funding they need to show growth.

[kenL]

kenL, If they want funding they need to show growth.

And if they want growth, they have to first show lender profitability.

[bamalucky]

kenL, If they want funding they need to show growth.

And if they want growth, they have to first show lender profitability.

Showing is easy. They already do that.

however offering proof keeps becoming harder.

[ira01]

Right now I think Prosper is more concerned with proving lenders can make a profit than they are with increasing originations.

That is just wishful thinking.  If Prosper were serious about "proving lenders can make a profit," it would take steps like announcing that 100% of loans will be verified before originating, to cut down on fraud.  But, of course, it hasn't -- because Prosper doesn't really care about lenders.  Prosper sees only the borrowers as its customers, to be protected in every way to the detriment of the lenders. 

[Urbi_et_Orbi]

If the first week of March 2010 is any indication, this is going to be a HORRIBLE month for Prosper.

Watch for originations to explode during the last week of March.

The last several months have started out pretty horribly and March is no exception. Right now I think Prosper is more concerned with proving lenders can make a profit than they are with increasing originations. If CL finds a way to get 10 million or more before the april fools deadline then I think they'll start focusing on increasing originations, but if he cant get the funds, they are screwed.

Yes, each month starts out horrible - and how do you explain that when looking at the daily origination data I have provided above.  The last few days of the month are always incredibly strong (when compared to the rest of the month) and then immediately drops back down to lackluster levels.

I would like to ask you to explain this phenomenon to us.

ETA: Prosper originated a grand total of $67,250 for the first WEEK of March - in stark contrast to the $240,881 it originated on the LAST DAY of February.

[kenL]

Right now I think Prosper is more concerned with proving lenders can make a profit than they are with increasing originations.

That is just wishful thinking.  If Prosper were serious about "proving lenders can make a profit," it would take steps like announcing that 100% of loans will be verified before originating, to cut down on fraud.  But, of course, it hasn't -- because Prosper doesn't really care about lenders.  Prosper sees only the borrowers as its customers, to be protected in every way to the detriment of the lenders. 

Yes, I am guilty of wishful thinking. I still have 30k+ in current loans and the reality of a prosper BK is driving me mad. No matter what I say it looks like the crap will hit the fan in April unless they get another bridge loan and postpone the fan crapping another 1 or 2 months.

[Senator]

kenL, If they want funding they need to show growth.

And if they want growth, they have to first show lender profitability.

If they might go bankrupt next month then they don't have that kind of time.