I sent the following e-mail to Bryan Maas of Lender services:
The following loan qualifies for repurchase under Prospers ID-Theft Guarantee.
http://www.prosper.com/lend/listing.aspx?listingID=174869
I'm also attaching the necessary argument for my beleif that this loan falls under Prospers ID-Theft Loan gurantee repurchase program.
Thank you for your attention to this matter. I look forward to your forthcoming response.
Beerbud1
Does it qualify? Right now, isn't it simply alleged ID theft?
that is true. do we know of any standards that prosper applies to determine if a loan qualifies for repurchase? maybe we can look at other repurchased loans as a comparison.
also, when a borrower notifies Prosper that their loan was acquired fraudently, what does Prosper do on it's own to determine whether the claim is valid? some possibilities in my mind: 1) do nothing and wait for a court decision that clears the borrower 2) launch the verification process again and revalidate each item in the borrower's application 3) send the case to their fraud unit so they can dig deeper into the borrowers background in order to make a dertmination.
What would a bank do for example if I called them up and told them a loan was taken out in my name fraudulently? Certainly they arent going to wait around for a court to decide the matter, no?