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[ira01]

They alienated a lot of the lenders and turned from what could have been their biggest support into an enemy aka this community, in addition currently all the talk in the news about people defaulting on all kinds of loans, there is talk about how credit cards will be next housing this is all horrible news in trying to recruit new lenders.  Prosper is hitting a low because of market conditions, and they will not see growth unless they fix collections and release a lot more information about the borrowers and allow lenders to grill borrowers about what ever is allowed by law. They don't seem to understand that the key is pleasing lenders and the borrowers will come on their own. The borrowers will go to where they can get the money at lowest rate.

+1

The borrower pays the rent in their fee's, lenders just make money, or not, from PMI's great idea.

Although this is how Prosper sees it, it is 100% wrong -- where do you think the money for those origination fees (to say nothing of the servicing fees) comes from?  From the lenders, of course.  The borrowers don't "pay" any fees -- all they do is promise to repay their lenders a bit more than the principal borrowed (which too many of them don't do).  For example, my 0/0/0 14% DTI B rated borrower that stole $24K from lenders didn't pay one dime to Prosper (or his lenders).  Prosper made its full origination fee on that loan, despite the fact that the borrower never made a single payment.  So lets recap -- Borrower gets $24K free money; Prosper gets its origination fee; lenders get the shaft.

[Mtnchick]

Folks, IMHO, the principles have already made enough money where they can take their ball and go home. There's really no other excuse for their blatant lack of attention to ANY details whatsoever at this point and time. Just in the last week we've seen one of their employees attempt a scheme (and I'm assuming the blog is still up?) and when an obvious ID theft was handed to them with velvet gloves, told the email was sitting in a junk folder. They are just waiting to lock the doors, take a long vacation and maybe open up another company or two after the stink from this one has worn off.

[Urbi_et_Orbi]

One point of interest that has often tickled my imagination is the surprisingly consistent "Delinquent Loan Pertange by Month" over time.

The platform evolved quite a bit the first several months, but delinquency is, IMO, surprisingly consistent - until PD07, when extended credit info arrived.
While that seemed to help lenders avoid some nutty loans, the delinquency rate continues to yield relatively consistent numbers.

It seems almosy extraordinary that the percentages could be so closely scattered.

Here is a snapshot of the numbers, listed by month of loan origination (as of today).

(Keep in mind that these are all in different stages of aging)

2006
MAR - 26.20%
APR - 31.63%
MAY - 28.28%
JUN - 31.69%
JUL - 28.62%
AUG - 31.39%
SEP - 31.17%
OCT - 30.19
NOV - 31.10%
DEC - 29.07%

2007
JAN - 29.68%
FEB - 34.40% (extended data became available mid-Feb)
MAR - 25.05%
APR - 25.40%
MAY - 24.23%
JUN - 22.97%

(the rest of the data is <12 months, so I am not including it...yet)

[ira01]

One point of interest that has often tickled my imagination is the surprisingly consistent "Delinquent Loan Pertange by Month" over time.

The platform evolved quite a bit the first several months, but delinquency is, IMO, surprisingly consistent - until PD07, when extended credit info arrived.
While that seemed to help lenders avoid some nutty loans, the delinquency rate continues to yield relatively consistent numbers.

It seems almosy extraordinary that the percentages could be so closely scattered.

Here is a snapshot of the numbers, listed by month of loan origination (as of today).

(Keep in mind that these are all in different stages of aging)

2006
MAR - 26.20%
APR - 31.63%
MAY - 28.28%
JUN - 31.69%
JUL - 28.62%
AUG - 31.39%
SEP - 31.17%
OCT - 30.19
NOV - 31.10%
DEC - 29.07%

2007
JAN - 29.68%
FEB - 34.40% (extended data became available mid-Feb)
MAR - 25.05%
APR - 25.40%
MAY - 24.23%
JUN - 22.97%

(the rest of the data is <12 months, so I am not including it...yet)

And with a maximum interest rate of 29% until fairly recently, and an average interest rate much less than that, these numbers are pretty damning.

[lysholm]

One point of interest that has often tickled my imagination is the surprisingly consistent "Delinquent Loan Pertange by Month" over time.

The platform evolved quite a bit the first several months, but delinquency is, IMO, surprisingly consistent - until PD07, when extended credit info arrived.
While that seemed to help lenders avoid some nutty loans, the delinquency rate continues to yield relatively consistent numbers.

It seems almosy extraordinary that the percentages could be so closely scattered.

Here is a snapshot of the numbers, listed by month of loan origination (as of today).

(Keep in mind that these are all in different stages of aging)

2006
MAR - 26.20%
APR - 31.63%
MAY - 28.28%
JUN - 31.69%
JUL - 28.62%
AUG - 31.39%
SEP - 31.17%
OCT - 30.19
NOV - 31.10%
DEC - 29.07%

2007
JAN - 29.68%
FEB - 34.40% (extended data became available mid-Feb)
MAR - 25.05%
APR - 25.40%
MAY - 24.23%
JUN - 22.97%

(the rest of the data is <12 months, so I am not including it...yet)

Where is this data from?

[Urbi_et_Orbi]

Where is this data from?

http://www.lendingstats.com/loansFunded

[lysholm]

Where is this data from?

http://www.lendingstats.com/loansFunded

thanks!

[CleanRivers]

So any chance we can get this broken down by credit grade?

[NewHorizon]

So any chance we can get this broken down by credit grade?

At http://www.lendingstats.com/loansFunded , click on "Customize" and select the credit grade of your choice.
(Pretty cool, eh?)

We see there, fwiw, that HR loans from 2/06 thru 2/07 are running 50-60% delinquent.

[Urbi_et_Orbi]

Why is this post in the lobby?

-t

You don't think this thread is relevant to Prosper or of general interest to the Prosper community?

I am sorry you feel that way.

[nonattender]

Others eyes may glaze over at the numbers you toss out, and buy the speculative, and negatively slanted, characterizations you make in your hypothesis, but, having read it, no, it's one person's pet theory, sans any type of meaningful conclusions to be drawn  (as you admit).

Prosper:Peak Oil?  I mean, maybe as an op-ed piece, but all dressed up as if it has meaning?  No sir, sorry, it's not even analogous on face.
You post a better class of "discontent disguised as analysis" than most - but it's still just discontent - albeit, with some numbers thrown in.

-t

[Urbi_et_Orbi]

Others eyes may glaze over at the numbers you toss out, and buy the speculative, and negatively slanted, characterizations you make in your hypothesis, but, having read it, no, it's one person's pet theory, sans any type of meaningful conclusions to be drawn  (as you admit).

Prosper:Peak Oil?  I mean, maybe as an op-ed piece, but all dressed up as if it has meaning?  No sir, sorry, it's not even analogous on face.
You post a better class of "discontent disguised as analysis" than most - but it's still just discontent - albeit, with some numbers thrown in.

-t

I would enjoy your perspective on the numbers and why you think the analysis (which is quite light) is slanted.  Do you feel similarly about Fred's charts and blog comments? (not that I am comparing myself to Fred)

[112233]

well, discontent has nothing to do with the data at hand of course.

[bamalucky]

10% of all active money lent just hit 4+ late today.

    4+ months late     $9,747,280     10.01%

Not counting the 7% that is from late to 3+ late.

http://www.prosper.com/lend/performance.aspx

[ira01]

Others eyes may glaze over at the numbers you toss out, and buy the speculative, and negatively slanted, characterizations you make in your hypothesis, but, having read it, no, it's one person's pet theory, sans any type of meaningful conclusions to be drawn  (as you admit).

 

ETA: Eliminated (well-deserved) personal attack on NA in the Lobby, per mod request.