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[mothandrust]

Was going to be back up at 1am, now it says 3am. 

On the Groups and Friends forum they had said that some substantive change to Groups was coming down the pike....might this be it?

I posted that whatever changes they make should first, do no harm--that existing functionality should be preserved.

Good changes are one which add choices, options, flexibility and freedom.

Bad changes are those that remove choices, options, flexibility, and freedom.

Prosper sadly has a history of making bad changes to the system (restricting PII to GLs, banning NCs and some HRs, ubermoderating forums, overriding collection agency defaults, restricting borrower/lender communication, eliminating GL fees, deleting calculation utilities, etc.)

[gassman0102]

http://blog.prosper.com/category/site-updates/

Nationwide lending at 36% interest rate cap
Minimum instant transfer amount lowered to $50
Second loan criteria updated
Lender servicing fee for AA changed to 1% per annum
Listing durations standardized at 7 days
Your tax forms are right here

[NewHorizon]

I like the new look of the tabs.

Buttons are still orange, tho'. 

[bamalucky]

New changes should put PMI at a record lending month soon.We can look forward to more entertaining observations.

[Spider5]

Nationwide lending at 36% interest rate cap

It's close - South Dakota is still excluded and Texas has a rate cap.

Shamelessly linking to my post about the upgrade.

[yankeefan]

THis is new, too, isn't it? 

Your role as a Prosper "Lender" is that of a loan purchaser. Although you are referred to on the Prosper website as a "Lender," you are not actually lending your money directly to Prosper borrowers, but are, instead, making loan purchase commitments and purchasing promissory notes from Prosper, representing loans made by WebBank, a Utah-chartered Industrial Bank to borrowers and subsequently assigned to Prosper

So now the loans are made by a state bank. This looks to be how they became a "national" lender, and got out from under some of the state limit

ETA- I see that Spider5's blog notes the above info.

[xraider]

This new purchase from a bank system will make it MUCH easier for Prosper to explain its business in these new lawsuits.

I wonder if 2Mil has a relationship with that bank?

[yankeefan]

I doubt if Mayan law allows 36% interest.

[LoanChimp]

This new purchase from a bank system will make it MUCH easier for Prosper to explain its business in these new lawsuits.

I wonder if 2Mil has a relationship with that bank?

It appears they now function even more like LendingClub did before LC shut their doors...

[112233]

This new purchase from a bank system will make it MUCH easier for Prosper to explain its business in these new lawsuits.

I wonder if 2Mil has a relationship with that bank?

or why JW/CL put in $$ to that mormon guy's (rather risky) loan recently?

[cubbiesnextyr]

Lender Agreement changed again...

[Xenon481]

Lender Agreement changed again...

For the record, I have not yet received any notification of changes in the Lender Agreement.

[Urbi_et_Orbi]

I like the cosmetic changes.  Best of all, the "outbound transfer" functionality is still intact.  

[112233]

does Prosper do regression testing?
http://www.prosper.com/prm/stories/

[NewHorizon]

does Prosper do regression testing?
http://www.prosper.com/prm/stories/

Of these 4 featured stories, clicking on the first 2 brings a page which shows that these two borrowers are in Georgia.  Their listing pages shows them to be in CA and MI.  Clicking the 4th story begets "Page Not Found".

But at least I'm posting about it here rather than having it queued up on the moderator's queue in the official forum.  Here, it'll get noticed by Prosper more quickly, imho.