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[Mtnchick]

guess I could show an example
https://www.prosper.com/invest/listing.aspx?listingID=488425

Someone's been a member for 4 years and now has decided to make their first listing? Weird.

ETA - I can't view it at all when I sign in.

[112233]

apache tomcat eh?

Netcraft showed IIS 6.0 back in 2008.
http://uptime.netcraft.com/up/graph?site=prosper.com

when I see port 8080, I think of tomcat .. of course it can be anything

[onthefence]

guess I could show an example
https://www.prosper.com/invest/listing.aspx?listingID=488425

That would be an Experian C credit grade.

Either Prosper made a mistake and are allowing Prosper[tm] HRs in, or they are internally confused by the different credit grading systems.  I don't blame them.  It confuses almost everyone else.

[BisonCreekRanch]

There are 174 listings showing.  All but 37 are HR.  Most of those are from before the change, but they won't have many listings to bid on if they rid themselves of the HRs.

[onthefence]

There are 174 listings showing.  All but 37 are HR.  Most of those are from before the change, but they won't have many listings to bid on if they rid themselves of the HRs.

Interesting.  Here they specify that it is the Prosper HR ratings, not Experian.
http://www.prosper.com/help/topics/other-fees.aspx

Note: we will no longer be able to offer loans to those with HR prosper ratings.

Looks like someone didn't set the rejection filter quite right.  Those are brand new loan listings created today.
https://www.prosper.com/invest/listing.aspx?listingID=488365

I'd get on that fast.  Far better to reject someone quickly, than to yank their chain & have them fill out a full loan listing.

[cowdog]

That FICO or whatever it is they use (although it clearly states it is provided by a consumer credit rating agency in a recent credit inquiry, no older than 60 days) clearly puts that borrower as HR.

I guess I shouldn't mention the current or past dqs, I don't have enough fingers and toes to even count them.

 

[Urbi_et_Orbi]

What a mess.

[BisonCreekRanch]

That FICO or whatever it is they use (although it clearly states it is provided by a consumer credit rating agency in a recent credit inquiry, no older than 60 days) clearly puts that borrower as HR.

I guess I shouldn't mention the current or past dqs, I don't have enough fingers and toes to even count them.

 

But, Prosper estimates a 13.69% return on that loan.  That should be good enough for anyone.

[ladeeda]

Hey ladeeda!
Ask one of your web developers to log out of the proser website, browse to one of the listings, and scroll down to the "Borrower's Credit Profile"

Thanks, I've submitted that.

Note: we will no longer be able to offer loans to those with HR prosper ratings.

Looks like someone didn't set the rejection filter quite right.  Those are brand new loan listings created today.
https://www.prosper.com/invest/listing.aspx?listingID=488365
I'd get on that fast.  Far better to reject someone quickly, than to yank their chain & have them fill out a full loan listing.

Those listings were created prior to the site changes but were only published today. I'll be concerned if I see HRs published tomorrow.

[onthefence]

That FICO or whatever it is they use (although it clearly states it is provided by a consumer credit rating agency in a recent credit inquiry, no older than 60 days) clearly puts that borrower as HR.

Experian Plus:
AA   760+    
A    720-759    
B    680-719    
C    640-679    
D    600-639    
E    560-599    
HR   520-559

[ladeeda]

That FICO or whatever it is they use (although it clearly states it is provided by a consumer credit rating agency in a recent credit inquiry, no older than 60 days) clearly puts that borrower as HR.

Experian Plus:
AA   760+    
A    720-759    
B    680-719    
C    640-679    
D    600-639    
E    560-599    
HR   520-559

HR refers to the Prosper Rating. Here's a quick summary: http://www.prosper.com/invest/how-to-invest/prosper-ratings/

The key section: "The estimated base loss rate is determined by two scores: (1) the credit score, obtained from an official credit reporting agency, and (2) the Prosper Score, figured in-house based on the Prosper population. These two scores determine the base loss rate for each listing. Adjustments can then be made to the base loss rate based on the borrower’s performance on a previous Prosper loan or the performance of borrowers with similar product terms. Any adjustments are added to the base loss rate to get the final loss rate, which then determines the Prosper Rating."

[bluestar148]

 

[TotoMMB]

So, are we calling this Prosper 4.0?

[Urbi_et_Orbi]

So, are we calling this Prosper 4.0?

I would.

[onthefence]

So, are we calling this Prosper 4.0?

Yes.  This is radical enough of an overhaul that it is Prosper 4.0.  No bidding.  You still have to determine if Prosper has accurately assessed the losses on a given loan, so I don't think it will save an intelligent investor much work.  But, if you determine that a loan is offered at the right interest rate, you know you won't be underbid.