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[ira01]

$6,072,776 loans for the month of August 2008
$6,575,648 for Aug 1-30 2007

I edited the thread because Feb 2008 dropped too

Let me get this straight ... there have been almost 8 full months in 2008, and the originations of only two months have declined?   (Your words, I haven't looked at the numbers.)  But you choose the title of this thread as "Year over year loan originations decline?"   

"Year over year" doesn't mean that you are comparing a year's worth of results.  It means that you are comparing a period of time this year (typically a month, but sometimes a quarter) to the same period of time last year.  So Bama's usage was correct -- for the month of August, Prosper (at least as of now) is showing a year over year decline.  

Incidentally, using LS data (which goes by when a loan originates, rather than when a listing was started as Eric's does), which is I believe what Bama is using, August looks like it will be the THIRD monthly year over year decline this year (after March and April).  That will be 3 out of the last 6 months, which probably has the VC shitting their pants (so to speak).  While that would be bad for any company, it is mindblowingly bad for a relatively young internet company (especially one whose CEO is on record as saying that originations need to increase 400-500% just to break even).

[zcommodore]

Incidentally, using LS data (which goes by when a loan originates, rather than when a listing was started as Eric's does), which is I believe what Bama is using, August looks like it will be the THIRD monthly year over year decline this year (after March and April).  That will be 3 out of the last 6 months, which probably has the VC shitting their pants (so to speak).  While that would be bad for any company, it is mindblowingly bad for a relatively young internet company (especially one whose CEO is on record as saying that originations need to increase 400-500% just to break even).

You are correct that this will be the 3rd decline.  However, it is not possible for Prosper to increase August 2008 numbers since any loans they approve today will "originate" on Sept. 2.

Mar. 2007: 8,028,393
Mar. 2008: 7,326,807

Apr. 2007: 8,818,461
Apr. 2008: 8,464,569

Aug. 2007: 6,595,648
Aug. 2008: 6,072,776

ETA: These numbers come from the Prosper performance tab but may not currently match due to repurchased loans that I've added back in.

[ira01]

However, it is not possible for Prosper to increase August 2008 numbers since any loans they approve today will "originate" on Sept. 2.

Right you are -- I forgot that loans originate the NEXT business day after approval (although I certainly wouldn't be shocked if, asuming Prosper had enough loans in the pipeline to prevent a decline, it somehow altered the system to give these loans an origination date of today).  Of course that would probably violate the law, since the borrowers wouldn't be getting the cash in their accounts until Tuesday.

[cubbiesnextyr]

However, it is not possible for Prosper to increase August 2008 numbers since any loans they approve today will "originate" on Sept. 2.

Right you are -- I forgot that loans originate the NEXT business day after approval (although I certainly wouldn't be shocked if, asuming Prosper had enough loans in the pipeline to prevent a decline, it somehow altered the system to give these loans an origination date of today).  Of course that would probably violate the law, since the borrowers wouldn't be getting the cash in their accounts until Tuesday.

Doesn't Prosper now require the borrowers to 'accept' the loan?  Therefore, even if the churn them out today, a borrower has 10 days or so to OK it all and therefore 'originate' the loan at that time?

[ira01]

However, it is not possible for Prosper to increase August 2008 numbers since any loans they approve today will "originate" on Sept. 2.

Right you are -- I forgot that loans originate the NEXT business day after approval (although I certainly wouldn't be shocked if, asuming Prosper had enough loans in the pipeline to prevent a decline, it somehow altered the system to give these loans an origination date of today).  Of course that would probably violate the law, since the borrowers wouldn't be getting the cash in their accounts until Tuesday.

Doesn't Prosper now require the borrowers to 'accept' the loan?  Therefore, even if the churn them out today, a borrower has 10 days or so to OK it all and therefore 'originate' the loan at that time?

Yep.  Apparently I should have had some coffee this morning.   

[bamalucky]

I don't use erics or LS for my YOY results.

I use the prosper performance tab.

[ira01]

I don't use erics or LS for my YOY results.

I use the prosper performance tab.

I think that uses the origination date, like LS, rather than the listing start date like Eric's.

[bamalucky]

Of course it uses the origination date.It's the only way it would make sense.

[Urbi_et_Orbi]

December 2009 originations trailing November 2009 originations.

Nov 1 - 11, 2009: $724,626
Dec 1 - 11, 2009: $538,327

How very disappointing for Prosper 3.0.

[nonattender]

$6,072,776 loans for the month of August 2008
$6,575,648 for Aug 1-30 2007

I edited the thread because Feb 2008 dropped too

Let me get this straight ... there have been almost 8 full months in 2008, and the originations of only two months have declined?   (Your words, I haven't looked at the numbers.)  But you choose the title of this thread as "Year over year loan originations decline?"   

This surprises you, why?  If you compare these same people's posts from last year with their posts from this year, you'll discover that, YOY, they... OY!... nevermind.

-t

[TotoMMB]

December 2009 originations trailing November 2009 originations.

Nov 1 - 11, 2009: $724,626
Dec 1 - 11, 2009: $538,327

How very disappointing for Prosper 3.0.

Guess not too many lenders want to fund borrower's Christmases. I would think "Buy Christmas presents" and "Take a vacation" would be instant losers (well, moreso than the general loan population). I'd put very little faith in someone paying those back.

[Xenon481]

$6,072,776 loans for the month of August 2008
$6,575,648 for Aug 1-30 2007

I edited the thread because Feb 2008 dropped too

Let me get this straight ... there have been almost 8 full months in 2008, and the originations of only two months have declined?   (Your words, I haven't looked at the numbers.)  But you choose the title of this thread as "Year over year loan originations decline?"   

This surprises you, why?  If you compare these same people's posts from last year with their posts from this year, you'll discover that, YOY, they... OY!... nevermind.

-t

OMG. Read the thread for once! No excuse for not reading a thread that is over a year old!

Especially Ira's post: http://www.prospers.org/forum/year_over_year_loan_originations_decline-t9091.0.html;msg147325#msg147325

[112233]

$6,072,776 loans for the month of August 2008
$6,575,648 for Aug 1-30 2007

I edited the thread because Feb 2008 dropped too

Let me get this straight ... there have been almost 8 full months in 2008, and the originations of only two months have declined?   (Your words, I haven't looked at the numbers.)  But you choose the title of this thread as "Year over year loan originations decline?"   

This surprises you, why?  If you compare these same people's posts from last year with their posts from this year, you'll discover that, YOY, they... OY!... nevermind.

-t

I see your posts haven't changed either lol ..

[Senator]

MHS,you aren't making any sense as usual.

Growth is measured year over year.

If you want to measure monthly decline,the last 3 months have declined.

Stolen from Zcommodores blog

That graph is starting to look like The Golden Gate. 

Mhs - Bama is right.  Year to year growth is measured...year to year.

Just sayin'.

[Xenon481]

Haha, wow.