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[pacino58]

It is absolutely ridiculous that a company whose sole business is originating and servicing loans would make such an error.

I completely agree, they seem to rely too heavily on their programming and do not complete any actions until a lender notifies them of the problem.

I'm ok with lobby.

[Senator]

2nd for the lobby

[yankeefan]

If this problem only ocurs on late loans brought current by Amsher, I understand Prosper's reluctiance to spend money to fix it.....   

[nonattender]

It is absolutely ridiculous that a company whose sole business is originating and servicing loans would make such an error.  I wonder how many other errors Prosper makes in its accounting?

Let me get this straight.  A lender noticed a strange accounting issue, brought it to Prosper's attention,
and Prosper, only like 1 day later, acknowledged that it was indeed an issue, tracked down all the other
accounts that might be affected by the same issue, and is now fixing the problem, and issuing refunds?

And all you've got to say is that they're in the loan business, and how ridiculous it is that such an error
could occur?  Did you flunk logic?  What would be ridiculous is if they were in the loan business and the
error that occured had to do with anything but loans.  Shoes, ice cream sundaes, that'd be "ridiculous".

Loans?  Not so much.  Were you sick the day they covered "Feigned Outrage to Cover Rhetorical Jabs",
or is this not something you learned in law school?  Maybe you took Yellow Journalism as an undergrad?

Which leads me to my followup question, for you, IRA - if that is your real name...!  **dun, dun, dun**

It's absolutely ridiculous that someone in the business of being logical would be so illogical when it suits
their purposes.  I wonder how many other logical "errors" you may make whenever it suits you to do so?

No!  No need to answer, sir.  Let's just let that hang there ominously while the crowd murmurs to itself.

C'mon, man...  You're better than this.

-t

[bamalucky]

Na,after 4 years shouldn't the bugs be worked out?

[nonattender]

Na,after 4 years shouldn't the bugs be worked out?

I notice that you're not hanging out on a Microsoft forum going:  "shouldn't this work by now?"
Anyone who has ever worked with complex software based systems knows that bugs creep in.

As a system increases in complexity, so does the probability that unforeseen errors will arise...
You track them, you prioritize the ones that need to be fixed first, and you hope that it works.

If Prosper fixes an error that's affecting lenders, you complain.  If they don't, what do you do?
We both know the answer to that one - let's not pretend otherwise.  Can't have it both ways.

-t

[bamalucky]

Na,after 4 years would you say that Prosper is quick to fix things?

For example ,blender offset?

[Fred93]

Prosper actually acknowledged that this was an incorrect service fee being charged for this loan. 

Ya' gotta wonder how such an error comes about.  Surely all the code that computes these fees was debugged long ago.    Almost nobody checks all the numbers on each payment, so there could be lots and lots of such errors.  Back in the early days when everything was new we often checked numbers and found errors, but it was so painful that we stopped doin' it.

[ira01]

It is absolutely ridiculous that a company whose sole business is originating and servicing loans would make such an error.  I wonder how many other errors Prosper makes in its accounting?

Let me get this straight.  A lender noticed a strange accounting issue, brought it to Prosper's attention,
and Prosper, only like 1 day later, acknowledged that it was indeed an issue, tracked down all the other
accounts that might be affected by the same issue, and is now fixing the problem, and issuing refunds?

Let me get this straight.  Prosper takes 100% of a borrower's payment as fees, reduces their principal amount, and doesn't notice until a lender brings it to their attention, and you think that is acceptable?  How many other such errors are there, and how many other lenders are having their money taken by Prosper but haven't noticed because who really scrutinizes Prosper's accounting of every payment?  

And now I have another question for you -- do you ever get tired of brown-nosing Prosper and Chris Larsen?  I notice that you still haven't publicly explained your connections to Prosper, Larsen, et al.  

[Senator]

And all you've got to say is that they're in the loan business, and how ridiculous it is that such an error
could occur?

I don't recall ever seeing such errors from where I do my banking, from the brokerage that sells me stocks, or my mortgage holder.

[cowdiddly]

And all you've got to say is that they're in the loan business, and how ridiculous it is that such an error
could occur?

I don't recall ever seeing such errors from where I do my banking, from the brokerage that sells me stocks, or my mortgage holder.

Exactly my Bank has made one .21cent error in the last 20 years and it was in my favor. My brokerage acct never a mistake in 12years. Totally unacceptable and I must say par for the course.

[nonattender]

I don't recall ever seeing such errors from where I do my banking, from the brokerage that sells me stocks, or my mortgage holder.

Is your bank, brokerage, or mortgage company a startup in a brand new industry?
Do their systems involve a 40:1 counterparty ratio on their average transactions?
Have they enjoyed 60+ years and a huge industry working on perfecting process?
(And yet still we read every day of some massive financial screw up or data loss.)

Last, but not least, do you think they'd get back to you and fix an issue in 48hrs?

Sorry, I don't think you're being fair.

-t

[bamalucky]

Na,how long should blender offset take?

[Beerbud1]

Na,how long should blender offset take?

Oh Stop, Please he can't answer that question he's too busy with his nose stuck up Larsen's Ass.

[cowdiddly]

Anyone who has ever worked with complex software based systems knows that bugs creep in.

eh...... I think Prosper refers to these as borrowers.