tag:blogger.com,1999:blog-6178547344217818498.post5932554399979960701..comments2023-11-26T16:59:51.483-08:00Comments on Prosper Lending Review: Prosper lenders avoid high risk loansUnknownnoreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6178547344217818498.post-10126120225372402632007-07-04T09:51:00.000-07:002007-07-04T09:51:00.000-07:00That is one of the better HR loans in terms of the...That is one of the better HR loans in terms of the credit data. It looks like the two things that are putting him in the HR category is a debt to income of greater than 20% and a very short credit history - only 2 open credit lines. He is only a couple years past being in the No Credit category. I see you won your bid on that loan. Best of luck, and keep us updated on how it turns out.Matthttps://www.blogger.com/profile/04173168939647498585noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-54319082237540398552007-07-04T08:49:00.000-07:002007-07-04T08:49:00.000-07:00link was too long for your blog comments width he ...link was too long for your blog comments width <BR/><BR/>he is listing # 155507Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-66053196018396353982007-07-04T08:47:00.000-07:002007-07-04T08:47:00.000-07:00tom, I have my first HR listingI will accept my HR...tom, I have my first HR listing<BR/><BR/>I will accept my HR when his credit looks like this<BR/><BR/>https://www.prosper.com/lend/listing.aspx?listingID=155507<BR/><BR/>he is only HR due to lack of revolving credit (which we now addressed, he now has a shiny new $3500 14.99, no annual fee card in which he will make 1 small purchase 1x every few months and pay off completely to build revolving debt history)<BR/><BR/>If he had a credit card, he's probably be a D - hence to me, this is an inefficient credit grade, hence the HR designation is bunkAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-52619052259325360402007-07-04T07:49:00.000-07:002007-07-04T07:49:00.000-07:00Thisguy - thanks for your comments and links to he...Thisguy - thanks for your comments and links to helpful information. I think that it is going to get harder and harder to get HR loans on Prosper. <BR/><BR/>By the way, I just checked out your group. It looks like you have been very successful - all 18 borrowers who attempted listings with you were funded. I see that you don't accept HR borrowers except by invite. What would cause you to accept a HR borrower?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-2401256132835882932007-07-04T07:36:00.000-07:002007-07-04T07:36:00.000-07:00I think borrowers, lenders, and Prosper the compan...I think borrowers, lenders, and Prosper the company was hurt quite a bit by the early funding that a lot of HR loans got early on. Some HRs were being funded at Proper that would never get funded by a financial institution, and when the defaults started it hurt everyone. If the more selective funding of HRs results in some better statistics for that group I think you might find more lenders that are willing to help some of the better HRs out with small loans.Matthttps://www.blogger.com/profile/04173168939647498585noreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-18576482284516156602007-07-04T06:02:00.000-07:002007-07-04T06:02:00.000-07:00re: High Risk funding, also have a post herehttp:/...re: High Risk funding, also have a post here<BR/><BR/>http://forums.prosper.com/index.php?showtopic=26731<BR/><BR/>Here are the stats for the first half of 2007<BR/><BR/>For the first half of the year Jan 1 - June 30, 2007<BR/><BR/>There were 1033 successful HR loans created<BR/><BR/>Here is the breakdown by size of the loan<BR/><BR/># of successful loans, first 6 months of the year<BR/><BR/>$20,000-$25,000: 1<BR/>$15,000-$19,999: 1<BR/>$10,000-$14,999: 7<BR/>$7500-$9999: 12<BR/><BR/>So out of 1033 successful HR loans this year thus far, (6 months), 21 have been for $7500 or more<BR/><BR/>******* <BR/>The good news is lenders are being more selective as time passes<BR/><BR/>The bad news is many lenders with good hearts paid the price trying to lend to HRs who turned into quick deadbeats, despite the 2nd chance Prosper and its lenders allowed them - now genuine good candidates in the HR category have a hard time getting loans due to past behaviors of that borrower class.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-9503151450778415672007-07-04T05:57:00.000-07:002007-07-04T05:57:00.000-07:00I posted some statistics about a month ago hereThe...I posted some statistics about a month ago here<BR/><BR/>The marketplace is moving away from lower grade risk<BR/><BR/>My focus was more on "how usesful is Prosper for borrowers" as my guesswork was vast majority of listings were failing (90%) which beared out in the numbers, I liked at 4 consecutive days.... <BR/><BR/>Link<BR/>http://forums.prosper.com/index.php?showtopic=25786Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-30686289160868439642007-07-01T21:48:00.000-07:002007-07-01T21:48:00.000-07:00Oldest Loan 328 Days.Average Age: 123.7Oldest Loan 328 Days.<BR/>Average Age: 123.7Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-72745820128921078292007-07-01T10:16:00.000-07:002007-07-01T10:16:00.000-07:00Kevin - what is the average age of your loans?Kevin - what is the average age of your loans?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6178547344217818498.post-57930152292420924382007-07-01T10:07:00.000-07:002007-07-01T10:07:00.000-07:00Personally I am no where near the HR or E credit g...Personally I am no where near the HR or E credit grades... I occationally dable in ultra clean D. My IRR is 5.75% as of this morning... http://www.rateladder.com/2007/07/01/my-prosper-internal-rate-of-return-update-end-of-jun-07-575/Anonymousnoreply@blogger.com