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[bamalucky]

http://www.lazymanandmoney.com/prosper-borrow-endorsement/

Buy My Endorsement

Another way to get an endorsement is through me. It’s pretty simple really. Contact me and let me know how much you want your endorsement for. Give me that money plus 50% and I’ll bid on your loan. If you end up paying off your loan, I will return the value of your endorsement. The 50% extra is my fee for making your loan more attractive to lenders. This gives you a better interest rate which usually would be worth much more than my fee. Here’s an example: You want a $50 endorsement on your loan. You contact me, we talk, and you send me $75 through PayPal. I bid $50 of that money on your loan with an endorsement and keep $25 for my time. If you make good on your loan and pay it off on time, I’ll give you the $50 endorsement value back. If you default, I keep the $50 (this protects me from potentially losing on the loan). With the endorsement your interest rate may go down 3% (hypothetical example), which over three years, should add up to more than the $25 fee I’m requesting for this service. You’ll want to do the math to make sure that it makes sense for your loan.

Why Am I Doing this?
If you think it sounds dirty, you are right. I’m putting on a grey hat in this case. I want to see how Prosper reacts to such a proposal. They’ve blurred the line by adding the social element to the loan marketplace. I want to blur it more. I want Prosper to look at endorsements and say, “Is this really the right model? Can we make it better?” Innovation occurs when there a potential problem is exposed. Perhaps “buying an endorsement” doesn’t qualify as a problem in Prosper’s eyes. If that’s the case, that’s worth knowing as well.

[bamalucky]

Feel free to move this to the lobby.I invited lazyman to org.

[bamalucky]

Here's his lender ID

http://www.lendingstats.com/lenders/technologyguy

We have discussed him before.

Estimated ROI1       -3.39%

[bamalucky]

14. Prohibited Activities. You agree that you will not do the following, in connection with any listings, bids, loans or other transactions involving or potentially involving Prosper:

a. Represent yourself to any person, as a representative, employee, or agent of Prosper, or purport to speak to any person on behalf of Prosper;

b. Charge, or attempt to charge, any Prosper borrower any fee in exchange for your agreement to bid on a borrower's listing, or propose or agree to accept any fee, bonus, additional interest, kickback or thing of value of any kind, in exchange for your agreement to bid on a borrower's listing;

http://www.prosper.com/account/common/agreement_view.aspx?agreement_type_id=8

[Cushie]

I remember discussing him before.  

He should be okay in this scam so long as he doesn't have a link to his blog in his Prosper profile.  

Second the motion to move to lobby.

[Nora_Lenderbee]

I informed Prosper of his blog post, FWIW.

[Tokyo Joe]

He's an idiot.  I left a comment for him too...

[Cushie]

His blog is blocked at my work or I'd leave a comment too.  Good find, Bama. 

I think it's very ironic that Prosper lets him be a blogger for their comany but not us.  You have to wonder who'll do more harm?  I know the answer - it's this fool.

[bamalucky]

Here's a link to where we talked about him before

http://www.prospers.org/forum/empty-t4440.0.html

[cubbiesnextyr]

What you are doing is a Prosper TOS violation & possibly even illegal. It is being discussed here.

[Editor’s note: URL removed… subscription required…]

He removed the link from bama's post...

[bamalucky]

Finding org must be stopped at all costs

[Tokyo Joe]

I had .org listed in the box for "my website"...

I don't see that in my post, either...

So, he's a tool, too... 

[Mtnchick]

He's passed all the tests - willing to lie, cheat, steal and he's a tool. He'll probably get offered a job at P------r

[bamalucky]

I had .org listed in the box for "my website"...

I don't see that in my post, either...

So, he's a tool, too... 

I saw it & wished i had did it too.But he deleted it from yours.

Lets see how long the LS link to him lasts.

[bamalucky]

I love this post on the blog

#  WealthBoy Says:
July 14th, 2008 at 11:27 am

An intriguing idea. For a second there, I wasn’t sure if I was reading a RateLadder post or a LazyMan post.