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[FlyingSolo]

... you totally incompetent bastards.

I had two loans go to default, the famous terrygmc (snittybee "I prosime to pay").
Loan #6542, https://www.prosper.com/lend/listing.aspx?listingID=81028
Last two payments Mar 17, 2007 and April 17, 2007

and

My charlie11 loan, who was paying btw and only 3 months late.
Loan #9458, https://www.prosper.com/lend/listing.aspx?listingID=115059
Last two payments Nov 30, 2007, Dec 14, 2007

So this had a chance to be one of the very few 4 month old loans that comes back current. If it did it probably would have restored my faith in the borrowers, BUT NOTHING CAN RESTORE MY FAITH IN PROSPER. To top it off it was only 4 months late for a few weeks. I guess it just barely caught the right time frame for the sell off and Prosper doesn't care about anything else.

Only a total complete incompetent loan servicing company would sell off a loan that is paying and trying to become current.

[Tokyo Joe]

I feel for you in regards to the second loan-- that does suck.  But regarding the first, look at the bright side: we're unlikely to get any more "updates" from snittybee...

[leporello]

... you totally incompetent bastards.

I had two loans go to default, the famous terrygmc (snittybee "I prosime to pay").
Loan #6542, https://www.prosper.com/lend/listing.aspx?listingID=81028
Last two payments Mar 17, 2007 and April 17, 2007

and

My charlie11 loan, who was paying btw and only 3 months late.
Loan #9458, https://www.prosper.com/lend/listing.aspx?listingID=115059
Last two payments Nov 30, 2007, Dec 14, 2007

So this had a chance to be one of the very few 4 month old loans that comes back current. If it did it probably would have restored my faith in the borrowers, BUT NOTHING CAN RESTORE MY FAITH IN PROSPER. To top it off it was only 4 months late for a few weeks. I guess it just barely caught the right time frame for the sell off and Prosper doesn't care about anything else.

Only a total complete incompetent loan servicing company would sell off a loan that is paying and trying to become current.

According to the LoanPerformance table, charlie11 has not paid down any principal since May 29; moreover he went 4+ months late on November 29, so he was not "only" 3 months late, unless I'm missing something.

[FlyingSolo]

I guess you are right, the payments do not show any principal. It did flip back to 3 months late on my accounts page though, if it's still counted as 4 months late I don't know why it did that. I'd still rather receive only interest payments and late fees than $5 to sell it off.

And yes, I'm glad the other was sold.

[leporello]

I guess you are right, the payments do not show any principal. It did flip back to 3 months late on my accounts page though, if it's still counted as 4 months late I don't know why it did that. I'd still rather receive only interest payments and late fees than $5 to sell it off.

And yes, I'm glad the other was sold.

For future reference, too see all the loan activity for a given loan that Prosper exposes via the download, the following query in ProProsper will do it.

SELECT *
   FROM loanperformance LP, loan LO, listing LI
  WHERE LP.loankey = LO.[key]
    AND LO.listingkey = LI.[key]
    AND LI.ListingNumber = 115059    <--- change "115059" to the listing ID of the loan you're interested in

[Xenon481]

I think that so long as the borrower is making payments of (even if they are interest only), that the loan should not be sold, and I even thought that Prosper employee's had stated something along those lines before.  2 or 3 of those interest only payments would probably more than cover what would come from a JDB sale anyways.

[dvd]

I think that so long as the borrower is making payments of (even if they are interest only), that the loan should not be sold, and I even thought that Prosper employee's had stated something along those lines before.  2 or 3 of those interest only payments would probably more than cover what would come from a JDB sale anyways.

Well, they do sell them off - In the last sale I had had a loan sold off that was making interest-only payments every month!
Idiots.

- dvd

[HollowOak]

I think that so long as the borrower is making payments of (even if they are interest only), that the loan should not be sold, and I even thought that Prosper employee's had stated something along those lines before.  2 or 3 of those interest only payments would probably more than cover what would come from a JDB sale anyways.

Well, they do sell them off - In the last sale I had had a loan sold off that was making interest-only payments every month!
Idiots.

- dvd

Interesting wrinkle if the collection agency suggested to the borrower to make interest-only payments and Prosper in its wisdom decided to sell off the loan. Something about the right hand not knowing what the left hand was doing?

[DCS]

I had the reverse experience with one of my loans.  The loan flipped to 4 months late in November, made a payment November 26th to flip back to 3 months late, and then just flipped back to 4 months late the day after the debt sale.  It will be interesting to see if this loan is part of the next debt sale or whether this borrower catches up.

http://www.prosper.com/lend/listing.aspx?listingID=25539

[Mtnchick]

Something about the right hand not knowing what the left hand was doing?

This seems to be the only constant at P------r.

[ira01]

I think that so long as the borrower is making payments of (even if they are interest only), that the loan should not be sold, and I even thought that Prosper employee's had stated something along those lines before.  2 or 3 of those interest only payments would probably more than cover what would come from a JDB sale anyways.

I absolutely agree with this -- it is moronic to sell off a loan for pennies on the dollar that is making interest payments.  Even if the interest payments stop, the loan can always be sold in the next debt sale.

[Mtnchick]

This is like the last sale when Aimee was making interest only payments and they sold her account.