In response to mothandrust and cardinalflyer’s comments:
There is a “rule of thumb” in debt buying that you know you didn’t pay too much for a portfolio if you receive back you purchase price in the first year. In the case of the accounts that comprised the “cancelled” debt sale bid file, they have already collected more than 2/3 of the total amount of the best bid. We remain confident that NOT selling the file was/is in the best interests of the lenders.
I am having a very hard time believeing that this is anything but a complete fabrication. IIRC, the JDB offer was for about $200K. Two thirds of that would be $167K. Have we seen ANY indication at all that Prosper has collected anywhere even remotely close to $167K from 4+month lates in the last 4.5 months? Fred93, you keep an eye on collections -- do you have any data on this? Annecdotally speaking, Mtnchick has posted several times that she hasn't seen a penny on any of her 50 4+month lates, which seems to be the general consensus. Of course there have been some payments, but $167K worth? Call me highly skeptical.
And of course we still haven't heard from Prosper regarding those supposedly "unacceptable conditions" that were apparently placed on higher bids. Thus, lenders may have received more than the $200K if Prosper improperly rejected higher bids do to conditions that it deemed "unacceptable," but that weren't really.
ETC: It appears that the actual JDB offer in mid-April was for
$232K, so if Prosper is telling the truth about collecting more than 2/3 of this amount, that would be about $155K.