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[lenderguy]

There are 1,865 loans showing on LS as 4+months late.  Of those, 506 are HR and 18 are NC.  Thus, only 28% of the 4+month lates are HR/NC.  50 of the 4+month lates are AA, 83 are A, and 180 are B.  Another 352 are C.  So it would seem that there is plenty for the JDB's to work with without having to spend a lot of time and effort on the "HR with 23 CDQ and $100K in delinquent debt."

Fair enough, but I do think there is a legitimate claim that this is an unknown market.  After all, how often do we sit here and opine that all AA's here are on the way down, because if they could get a loan else where, why don't they?  If they're here, there may be something they aren't telling us.

[mothandrust]

I don't know.  If given the option to take 1% or to just let it ride, I'd let it ride.  Returns on earlier collection efforts were much better.  The question is are those Junk Debt sales methods still available, or are the original Junk Debt purchasers no longer interested at those rates?

Since we don't know who the bidders are who are bidding at 1% and we do know of one situation in the past where Prosper has bypassed a higher bid in favor of a lower bid, we do not have a transparent and competitive market for the late loans.

Put them up on eBay.

[Pinebox]

Club + knees = rapid payment

[Urbi_et_Orbi]

Doug Fuller has some experience at least working with bigger companies that deal with debt.  I wonder what he thinks & I wonder if prosper's management is listening to him.

According to the amended court filing, DoFu is in charge of all aspects of operations for Prosper Bank.

(bolding is mine)

[ira01]

Doug Fuller has some experience at least working with bigger companies that deal with debt.  I wonder what he thinks & I wonder if prosper's management is listening to him.

According to the amended court filing, DoFu is in charge of all aspects of operations for Prosper Bank.

(bolding is mine)

Maybe we should have lent our money through them, then. 

[onthefence]

Doug Fuller has some experience at least working with bigger companies that deal with debt.  I wonder what he thinks & I wonder if prosper's management is listening to him.

According to the amended court filing, DoFu is in charge of all aspects of operations for Prosper Bank.

(bolding is mine)

Maybe we should have lent our money through them, then. 

Maybe you are.  Look at their header graphic.  See that tilted white star on blue?

[Urbi_et_Orbi]

Well, they ARE located in Frisco, Texas.

https://www.bankprosper.com/Default.aspx?tabid=331

[Urbi_et_Orbi]

Who is this Prosper IRA - and how did he get such an awesome ROI?

Prosper IRA's **     
12 month  500.00  3.455%  3.50% 
24 month  500.00  2.97%  3.00% 
36 month  500.00  2.97%  3.00% 
48 month  500.00  2.97%  3.00% 
60 month  500.00  2.97%  3.00%