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[ira01]

Two new Late<15's (one yesterday, one today).  Both had spotless payment histories with 11 payments.  Hopefully it is just a glitch, but it is still frustrating. 

[vsqueen]

I feel for you.  I have a borrower that has just gone late for the first time in almost 2 years. 

An AA that had made 22 on time payments. 

Not encouraging. 

[ira01]

It really does bring home the lesson that we see in the various late loan graphs that no loan is safe until it is fully paid off.  Although I imagine that there will be few defaults on loans in the last several months, since most borrowers would rather scrape up a few last payments than take the credit hit, there will be a whole other category of problems with all of the loans that have had a number of lates along the way, when the borrowers get a big surprise that their final payment is a balloon payment due to the late charges.

[iLIE]

You guys are too pessimistic.Almost 85% of the borrowers are repaying.

[dlv1945]

You guys are too pessimistic.Almost 85% of the borrowers are repaying.

Thanks, I feel much better now.

[snake]

You guys are too pessimistic.Almost 85% of the borrowers are repaying.

.....within the first six months 

[TJGbank]

,

[TotoMMB]

I've noticed that currently. Over the weekend, two loans have slipped into <15 dayes late. I don't know if Prosper can't figure out the pulls or what? I'm used to seeing the pull noted as occuring the day before payment date (or Friday for weekend payments). Now, the due date seems to come and go and nothing.

This latest incarnation of P.com is pure rubbish.

[xraider]

Toto, are those two loans due to pay off in the next few days?  If so, it's an accounting glitch.  I have two new <15s, which should be payoff in progress.

[TotoMMB]

Nope. Actually, one - only 7 months old - has been paying manually. Due date is the 22nd, they paid on 20th. It's still showing as processing. My guess is payment didn't go through but Prosper's fucked up programming can't keep everything straight. I imagine it'll be reversed out shortly.

The other loan - Sep. '08 - has been late for most of 2010. Paid 8 days late in January, 20 days late in February, and made a double payment in April to come current. They're scraping and clawing. Original payments had been automatic. Latest was pulled on 18th, rejected on the 20th.

So, I guess it wasn't really as bad as it originally seemed. (Yes it's bad, but not totally glitchy bad). It just seems weird, my loans go late 2 at a time.

[God-Father]

Two new Late<15's (one yesterday, one today).  Both had spotless payment histories with 11 payments.  Hopefully it is just a glitch, but it is still frustrating. 

Was it a glitch?

bug: a fault or defect in a computer program, system, or machine

[ideal-value]

Yeah i'm having problems too.  On a couple of mine with perfect payment records, the time has past for payment, yet there is no auto-pull, no payment, and not marked with late.

[bluestar148]

My Prosper1 account is so distressed I don't even give a darn anymore. They can do with it what they want. It's pathetic. 13 Months with Lending Club and all is smooth. In fact I have added 23 loans this month. I'm beating the banks, money market funds, savings bonds, the stock market. Thanks Prosper.

[Fred93]

I have a theory.  My theory is that many prosper loans are showing up late for a few days because of the accounting software change.  For example, I looked at one loan which was flagged as "<15 days late", and saw that the most recent payment had not posted, but strangely the balance shown at the top of the loan detail page had been decremented!  Perhaps accounting for the payment is delayed, getting some displayed info out of synch for a few days. 

Time will tell.

[TotoMMB]

I have a theory.  My theory is that many prosper loans are showing up late for a few days because of the accounting software change.  For example, I looked at one loan which was flagged as "<15 days late", and saw that the most recent payment had not posted, but strangely the balance shown at the top of the loan detail page had been decremented!  Perhaps accounting for the payment is delayed, getting some displayed info out of synch for a few days. 

Time will tell.

I just don't get how they took one of the few things that was working correctly and screwed THAT up. And no communication...