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[Fred93]

Fred93 has updated his blog with the bimonthly late loan charts, and a few comments about collections.

http://www.prospers.org/blogs/Fred93/2008/06/03/prosper_com_06_01_08_late_loan_stats_upd

[Mtnchick]

As always, thank you for your hard work. I wonder at which point PMI will realize collections is broken?? And when they will start telling the truth about default statistics.

[xraider]

Thanks, Fred.  I'll go cry in my coffee now.

[Senator]

Has PMI actually said they'll NEVER hold another bad debt auction?

ETA: Thanks Fred, You are a SAINT.  And I love Futurama.

[112233]

I started watching futurama a little .. I keep thinking I see fred on TV

[LoanChimp]

Late fraction of Prosper Select loans:



 

http://warmnfuzzyprosperblog.blogspot.com/2008/06/prosper-set-some-records-in-may-08.html

[112233]

are the parameters for the prosper select index static? have they, or will they possibly change?

right now, PSI is defined as

Prosper Select Index: The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of August 31, 2007. Prime Select includes AA and A credit grade loans (credit scores of 720+). Near Prime Select includes B, C, D credit grade loans (credit scores between 600 and 719). Sub Prime Select includes E credit grade loans (credit scores between 560 and 599).

[LoanChimp]

are the parameters for the prosper select index static? have they, or will they possibly change?

right now, PSI is defined as

Prosper Select Index: The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of August 31, 2007. Prime Select includes AA and A credit grade loans (credit scores of 720+). Near Prime Select includes B, C, D credit grade loans (credit scores between 600 and 719). Sub Prime Select includes E credit grade loans (credit scores between 560 and 599).

They haven't changed...yet. But I doubt they will.

That is why I use it...

[112233]

are the parameters for the prosper select index static? have they, or will they possibly change?

right now, PSI is defined as

Prosper Select Index: The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of August 31, 2007. Prime Select includes AA and A credit grade loans (credit scores of 720+). Near Prime Select includes B, C, D credit grade loans (credit scores between 600 and 719). Sub Prime Select includes E credit grade loans (credit scores between 560 and 599).

They haven't changed...yet. But I doubt they will.

That is why I use it...

Was PSI was first defined by Prosper in Aug of 06?

[ira01]

are the parameters for the prosper select index static? have they, or will they possibly change?

right now, PSI is defined as

Prosper Select Index: The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of August 31, 2007. Prime Select includes AA and A credit grade loans (credit scores of 720+). Near Prime Select includes B, C, D credit grade loans (credit scores between 600 and 719). Sub Prime Select includes E credit grade loans (credit scores between 560 and 599).

They haven't changed...yet. But I doubt they will.

That is why I use it...

Was PSI was first defined by Prosper in Aug of 06?

IIRC, PSI didn't show up until around the summer of 2007.

[112233]

are the parameters for the prosper select index static? have they, or will they possibly change?

right now, PSI is defined as

Prosper Select Index: The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of August 31, 2007. Prime Select includes AA and A credit grade loans (credit scores of 720+). Near Prime Select includes B, C, D credit grade loans (credit scores between 600 and 719). Sub Prime Select includes E credit grade loans (credit scores between 560 and 599).

They haven't changed...yet. But I doubt they will.

That is why I use it...

Was PSI was first defined by Prosper in Aug of 06?

IIRC, PSI didn't show up until around the summer of 2007.

I would observe the buckets starting at that time then.

[NewHorizon]

I must be blind...

Can somebody show me why the PSI is at 8.57% here, but at 8.84% here (and the Sub Prime Select Index jumps 4(!) percentage points from 7.62% to 11.56%) even though, near as I can tell, the parameters are the same - including the stated observation date (1/31/08)?

[ira01]

Late fraction of Prosper Select loans:



 

http://warmnfuzzyprosperblog.blogspot.com/2008/06/prosper-set-some-records-in-may-08.html

It looks like the July/August 2007 PSI loans are already >6% 1-month late or worse, and the slope of the September/October/November PSI loans appears to be about the same.  Thus, over the life of these loans, it seems that close to 20% are likely to default.  That may be an improvement over the non-PSI loans, but it hardly seems to be good news for Prosper (or its lenders).

By the way, thanks to Lendingstats' recent update, you can now see the entire (well, 67) collection of NAT loans by selecting only the "Defaulted (Repurchased)" loans from the loan list.  That would let you see exactly how many are PSI, if you are interested, rather than just looking at the 28 for which we have matched the listing and loan numbers so far.

[LoanChimp]

I must be blind...

Can somebody show me why the PSI is at 8.57% here, but at 8.84% here (and the Sub Prime Select Index jumps 4(!) percentage points from 7.62% to 11.56%) even though, near as I can tell, the parameters are the same - including the stated observation date (1/31/08)?

I think those are expected ROI's for loans funded in that specific month.

[NewHorizon]

The Prosper Select Index return is the estimated average annual return on invested principal, based on actual delinquency performance to date. The Prosper Select Index includes AA - E credit grade loans for borrowers whose credit reports at the time of application indicated zero current delinquencies, three or fewer credit inquiries, and a debt-to-income ratio of 40 percent or less. The annual return period reflects loans originated in the twelve month period ending one month prior to the observation date of January 31, 2008.

(From Prosper's April 2008 "Market Survey Results".)

WIth an observation date of 1/31/08, I don't see how this can be "actual delinquency performance to date".  I'm thinking Prosper just forgot to update the "January 31, 2008" portion of the text each month.