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[112233]

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.

I'm mainly looking at the menu which is all screwed up. Taking 2 minutes to click on all the menu links would  have revealed this in testing. After looking at the source code, I can tell this wasn't setup properly during coding (the menu doesnt have the IDs set up properly like the menu on other pages which you would need for CSS or code-behind in .net. Also the page looks like it using classes which dont exist, not to mention it's using v1.6 of prosper's css versus 1.9 on other pages).

[cubbiesnextyr]

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.

You're probably right...

Guest      10:55:26 AM     Viewing the topic Prosper Down From 9pm-3am.

[BrassKnuckles]

Bumped the lender servicing fee to 1% for AA's...

[Loan_shark_74]

Bumped the lender servicing fee to 1% for AA's...

This is the part that sucks. Now we have to fund AA's at higher rates.

[LoanChimp]

There are now 103 credit segments.

[Beachey]

poof

[cubbiesnextyr]

Bumped the lender servicing fee to 1% for AA's...

Starting to understand some of the resentment towards Prosper.

Have a bid on a AA with taking in the guidance is at my minimum bid rate, magically Prosper retroactively applies the higher fee to the loan and now my bid is below my minimum bid rate.  Still has two days to go so maybe I will get bid off.

Luckily, it only applies to listing requests started AFTER the upgrade (or so they say.  If it funds and you see in the docs that the 1% rate is applied, then you should have reason to bitch to prosper).

[NewHorizon]

Bumped the lender servicing fee to 1% for AA's...

Don't forget - unlike closing fees paid by the borrower, that's 1% each year. 

In Prosper's example:

For example, on a $5,000 A credit grade loan at 10% interest, the servicing fee would be $80.70 over its full 3 year length

$80.70 is about 1.6% of $5000.

[LoanChimp]

Interesting. I was checking out some of the new credit segments.

#4: AA - No automatic funding, loan amount $5-10k, 20-40% DTI

I wasn't sure at first if the higher amount limit was $9,999 or $10,000. Luckily the next segment is for $10,001-$15,000, so that clarifies.

But when I run the performance on segments #4 with the two different dollar limits, the results are a little surprising.

Using $9,999  : Net default + adjustment = -4.95%
Using $10,000: Net default + adjustment = -3.43%

$9,999 - 2 late out of 99 loans
$10,000 - 2 late out of 129 loans

$1 difference in loan amount made around 1.5% difference on the historical default rate... 

[112233]

another change

if I click "sign in" (example below), I'm sent to the register page, even though when you link is pointing to the login page (hover the mouse over the sign in link).

basically, if the "ReturnURL" parameter is set going into the login page, then you are sent to the register page first

http://www.prosper.com/lend/listing.aspx?listingID=15103

[Loan_shark_74]

Interesting. I was checking out some of the new credit segments.

#4: AA - No automatic funding, loan amount $5-10k, 20-40% DTI

I wasn't sure at first if the higher amount limit was $9,999 or $10,000. Luckily the next segment is for $10,001-$15,000, so that clarifies.

But when I run the performance on segments #4 with the two different dollar limits, the results are a little surprising.

Using $9,999  : Net default + adjustment = -4.95%
Using $10,000: Net default + adjustment = -3.43%

$9,999 - 2 late out of 99 loans
$10,000 - 2 late out of 129 loans

$1 difference in loan amount made around 1.5% difference on the historical default rate... 

I take it the 30 loans at 10,000 are all current. That would explain this.

[112233]

so prosper will allow borrowers from nevada now after this deal with webbank?

only south dakota seems to be excluded
http://www.prosper.com/legal/states_and_licenses.aspx

[bamalucky]

On the bright side,this should propel the ponzi scheme long enough for all of my loans to default or be paid off.

This should double loan volume within a couple of months.Now lenders can transfer instantly.

We should be getting a new crop of pissed off lenders around October 08

[Loan_shark_74]

so prosper will allow borrowers from nevada now after this deal with webbank?

only south dakota seems to be excluded
http://www.prosper.com/legal/states_and_licenses.aspx

My question is, how does this deal help to include other states, but not S. Dakota? What is the issue with S. Dakota?

[bamalucky]

Take a look at all the loans just created..I'm guessing PMI sent out emails to everyone who previously registered & were denied due to state..A remarkable number of 30%+ listings.

This is gonna be wholesale slaughter on the new lenders.