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[Fred93]

My one New Agency Test loan is in Orange County, and x says their search isn't working.  Don't know if that's going to be fixed, but if/when it is, I'd be interested to know if anything's been filed on it. 

Works tonite.  Prosper has filed one case in Orange County.

30-2008-00050023-CL-CL-NJC
PROSPER MARKETPLACE, INC. VS. KAREN ROZIER
02/26/2008

Don't know if this is a persistent URL, but looks like it might be... https://ocapps.occourts.org/CivilPub/DisplayCaseInformation.do?caseNbr=30-2008-00050023-CL-CL-NJC&src=case_src_dtl

If the URL doesn't work for you, go here, then search for PROSPER MARKETPLACE
https://ocapps.occourts.org/CivilPub/ViewBusiness.do

[cowdog]

I assume it is

http://www.linkedin.com/in/kayeroze

Her company:

http://www.othello-enterprises.com/

Any idea what loan it was?

[Fred93]

Any idea what loan it was?

No idea.  Doesn't look likely to be one of mine.  (I only have 3 in the test.)

Here's the list of loan #'s in the "new agency" litigation test.  Maybe we can start guessing/tracking the relationship between the loan#'s and the cases filed.

848 3918 6127 7739
950 3992 6302 7779
1840 4001 6311 8068
1850 4371 6383 8167
1906 4389 6759 8204
1975 4539 6809 9392
1984 4620 6880 9471
2297 4720 7008 9544
2407 4764 7186 12474
2576 4875 7250 12577
2627 5092 7270 12748
2854 5350 7348 12876
2982 5370 7385 13632
3059 5420 7458 13650
3069 5555 7501 14577
3584 5923 7627 14865
3897 6069 7673 16136

[traveler505]

Here are the listing numbers for all repurchased California loans (66 legal test, 11 or so Victoria C.; and a few stragglers):

http://www.lendingstats.com/loanPerformance?lenderId=&lenderId=&keyword=&dtiLow=0&dtiHigh=-1&loanAmountLow=0&loanAmountHigh=25000&locationFilter=CA&_ros=13&startDate=2005-11-01&endDate=2008-03-29&accountVerified=&homeOwner=&automaticFunding=&submit=Generate

[cowdog]

http://www.prosper.com/lend/listing.aspx?listingID=109469

[traveler505]

One down; 65 to go.

[hoosier500]

Sorry - didn't realize this was the lobby.

[xraider]

Excellent!

I checked Shasta County (nothing there) and checked Lexis again; nothing new.
Nothing showing in San Diego.  Nothing in San Francisco.  I don't have an account to search LA, and I need to know the case number to search Alameda.

I hope that Lexis updates soon.  I'll check again in a few weeks.

[Fred93]

This is hilarious.  Any other servicing agent in the world would give us the status.  With Prosper, we have to dig it out ourselves, and match up the cases with the listings ourselves, etc. 

And this ... while 95% of the bad loans languish, not even getting this treatment.

[Mtnchick]

OK, so 1 or 2 cases have been filed now? Out of 66? (out of the 1000's that are late)?

[Fred93]

OK, so 1 or 2 cases have been filed now? Out of 66? (out of the 1000's that are late)?

Right.

As of 3/29/08 there have been 1354 defaults due to delinquency (I've eliminated the bankruptcy and death defaults).  There are 907 that are 4+ late.  There are 122 that have been repurchased, of which I will count the 66 "new agency test" loans which were repurchased because they were very late, with intention to take legal action, but not the others which were repurchased because of fraud or screwups.

The total comes to 2327 loans where lenders have almost no hope of any payment, of which prosper has initiated legal action in 2. 

[112233]

OK, so 1 or 2 cases have been filed now? Out of 66? (out of the 1000's that are late)?

Right.

As of 3/29/08 there have been 1354 defaults due to delinquency (I've eliminated the bankruptcy and death defaults).  There are 907 that are 4+ late.  There are 122 that have been repurchased, of which I will count the 66 "new agency test" loans which were repurchased because they were very late, with intention to take legal action, but not the others which were repurchased because of fraud or screwups.

The total comes to 2327 loans where lenders have almost no hope of any action, of which prosper has initiated legal action in 2. 

.09% ?

[JammingJAY]

Prosper.com lending stats at prospers.org

 

[xraider]

I expect that more lawsuits were filed.  I just don't have search capacity in all counties, and some are probably slow to index anyway.

I'll keep checking and will post as I find more.

It would be nice, though, if Prosper was more transparent on this.

[ira01]

It would be nice, though, if Prosper was more transparent on this.

Of course it would be, though totally out of character for Prosper.  Considering that lawsuits are public records, there is no good reason why Prosper doesn't have a NAT page on its website providing the litigation status and copies of filings in every NAT case.  The borrowers in the NAT lost whatever privacy rights they had when lawsuits had to be filed to compel their agreed-upon payments.