Comments on: Prosper.com: A 6-month Review http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/ Learning and sharing investment knowledge. Thu, 04 Dec 2008 20:57:49 +0000 http://wordpress.org/?v=2.0.4 by: Finance Junkie http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-530989 Sat, 30 Aug 2008 22:44:48 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-530989 The author links to my website under his strategy section. More than two years later i've done an updated strategy which can be found at: http://pluggedinfinance.blogspot.com/2008/08/updated-prosper-lending-strategy-tips.html The author links to my website under his strategy section. More than two years later i’ve done an updated strategy which can be found at:

http://pluggedinfinance.blogspot.com/2008/08/updated-prosper-lending-strategy-tips.html

]]> by: Lender http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-440281 Wed, 25 Jun 2008 06:06:15 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-440281 Prosper is great for borrowers, but not so wonderful for lender. http://www.prospers.org/forum/prosper_lenders_retain_legal_counsel-t8015.0.html Prosper is great for borrowers, but not so wonderful for lender.

http://www.prospers.org/forum/prosper_lenders_retain_legal_counsel-t8015.0.html

]]> by: Peggy Smith http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-440131 Wed, 25 Jun 2008 04:33:30 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-440131 How can Prosper, fit with a booming non profit agency? Assisting the uninsured (and all others actually as insurance doesn't cover truly necessary supports). We served 5,000 indviduals and families (many were repeat visitors) in 2007. Website: collaborationworksonline.com Thanks for allowing me to leave this message. How can Prosper, fit with a booming non profit agency? Assisting the uninsured (and all others actually as insurance doesn’t cover truly necessary supports). We served 5,000 indviduals and families (many were repeat visitors) in 2007. Website: collaborationworksonline.com

Thanks for allowing me to leave this message.

]]> by: Carolyn http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-427547 Wed, 18 Jun 2008 00:40:30 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-427547 I just tried prosper.com and had a terrible experience. I thought the P-2-P lending concept was created for borrowers who were traditionally disqualified by banks. The idea that your credit score is used as a foundation for getting a loan defeats the purpose! If the entire borrowing process is based on the credit score, why bother with Prosper just go to a regular bank or loan company. I think the service need s to be tweaked in someway. If I understood that the criteria was the credit score, I would have never bothered...now I have inquiry on my credit for NOTHING! I just tried prosper.com and had a terrible experience. I thought the P-2-P lending concept was created for borrowers who were traditionally disqualified by banks.

The idea that your credit score is used as a foundation for getting a loan defeats the purpose! If the entire borrowing process is based on the credit score, why bother with Prosper just go to a regular bank or loan company. I think the service need s to be tweaked in someway. If I understood that the criteria was the credit score, I would have never bothered…now I have inquiry on my credit for NOTHING!

]]> by: high yield http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-338751 Fri, 18 Apr 2008 17:51:39 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-338751 I think Prosper is here to stay. It provides us the lenders another alternative way of making money in additional to stock investing, CD, and cash. I think Prosper is here to stay. It provides us the lenders another alternative way of making money in additional to stock investing, CD, and cash.

]]> by: Click here http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-299871 Wed, 19 Mar 2008 19:15:05 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-299871 <strong>Click here...</strong> 37Signals, a fantastic web- dev company, has produced a new project- management app called Basecamp that looks like a winner. Not only is it extremely pretty and easy- to- follow-- I'd expect no less from the usability wonks at 37Signals-- but it's a... Click here…

37Signals, a fantastic web- dev company, has produced a new project- management app called Basecamp that looks like a winner. Not only is it extremely pretty and easy- to- follow– I’d expect no less from the usability wonks at 37Signals– but it’s a…

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]]> by: J Dawson http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-253357 Wed, 30 Jan 2008 19:38:30 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-253357 Up and coming Prosper competitors in the US are <a href="http://www.loanio.com" rel="nofollow">Loanio</a> and <a href="http://www.fundmynotes.com" rel="nofollow">FundMyNotes</a> Can't wait to see what they bring to the competition. Up and coming Prosper competitors in the US are Loanio and FundMyNotes

Can’t wait to see what they bring to the competition.

]]> by: Jon http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-237536 Mon, 07 Jan 2008 05:26:02 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-237536 Great Article. This site can help borrowers enhance their loan listings. It also gives lenders a better prospective of prosper. There's also a loan calculator that can help determine risk level. It's a great site. Great Article. This site can help borrowers enhance their loan listings. It also gives lenders a better prospective of prosper. There’s also a loan calculator that can help determine risk level. It’s a great site.

]]> by: ProsperLenders.com http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-231479 Sun, 30 Dec 2007 13:15:41 +0000 http://www.investorgeeks.com/articles/2006/08/15/prospercom-a-6-month-review/#comment-231479 Prosper introduced historical performance based bidding guidance for lenders a little over two months ago (Oct. 2007). IE, everytime someone bids nowadays, a little screen pops up saying "loans of this credit quality have a historically estimated return of x% - are you sure you want to bid 5% under that amount?"... even in just two months, this appears to be having a marked effect. Marketplace data shows significant uptrends in both interest rates of funded loans, as well as very sharp uptrends in the credit quality of loans that fund. Prior to this guidance, most lenders were reliant on the overly (grossly) optimistic (Experian CC based) default projections which Prosper supplied as baseline guidance. Now that there's marketplace performance data from a year and half of actual Prosper loans, and now that Prosper has leveraged that data and made it available to lenders, things may be set to change... or at least we'll all revert to the mean. Either way, it'll be fun. Stats referenced above at: <a href="http://www.ProsperLenders.com" rel="nofollow">Prosper Lenders</a> Prosper introduced historical performance based bidding guidance for lenders a little over two months ago (Oct. 2007). IE, everytime someone bids nowadays, a little screen pops up saying “loans of this credit quality have a historically estimated return of x% - are you sure you want to bid 5% under that amount?”… even in just two months, this appears to be having a marked effect.

Marketplace data shows significant uptrends in both interest rates of funded loans, as well as very sharp uptrends in the credit quality of loans that fund. Prior to this guidance, most lenders were reliant on the overly (grossly) optimistic (Experian CC based) default projections which Prosper supplied as baseline guidance. Now that there’s marketplace performance data from a year and half of actual Prosper loans, and now that Prosper has leveraged that data and made it available to lenders, things may be set to change… or at least we’ll all revert to the mean. Either way, it’ll be fun.

Stats referenced above at: Prosper Lenders

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