Hello and good morning to all our readers. Welcome to another edition of the Prosper Roundup. We have lots in store for you today, including a large section for our small business entrepreneurs and for those looking to create their own start-up during this economic situation. Drop us a line when you’re through to tell [...]

• Mixed Lots Small Size Notes Paper Money US Coins Paper Money

• Mixed Lots Indian Head 1859-1909 Small Cents Coins US Coins Paper Money

Continue reading → Prosper.com Roundup - Small Business and the Economic Crisis

A common subject our community members talk about is: how many loans does a lender need to be diversified? As far as a number is concerned, based on my review of marketplace data I believe that that a minimum of 100 equal sized loans achieves effective diversification.  In fact, I believe there are still diversification [...]

• Plate Number Coils United States Stamps

• Home-Based Businesses Businesses for Sale Opportunities

Continue reading → Optimal number and size of loans - other factors to consider - for diversification

It’s not surprising that lenders have recently been calling and emailing us to find out if their Prosper cash balances are FDIC insured. We want to take this opportunity to let our lenders know that their cash balances are, in fact, FDIC insured.  Prosper is not a bank, does not take deposits, and is not [...]

• Cash Registers Banks, Registers Vending Collectibles

• Bank of Canada Canada North, Central America Paper Money World Coins Paper Money

Continue reading → Lender funds have FCIC coverage

It’s not surprising that lenders have recently been calling and emailing us to find out if their Prosper cash balances are FDIC insured. We want to take this opportunity to let our lenders know that their cash balances are, in fact, FDIC insured.  Prosper is not a bank, does not take deposits, and is not [...]

• Cash Registers Banks, Registers Vending Collectibles

• Bank of Canada Canada North, Central America Paper Money World Coins Paper Money

Continue reading → Lender funds have FCIC coverage

Like any good neighbor, we need to be on the lookout for predators in the community.
Recently, a fellow community member was approached (via a Prosper Message) by a “potential lender” interested in supporting their listing. The lender requested additional information on the borrower’s business, including their website and/or yellow page link. Shortly after providing the [...]

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• Cast Member Exclusives Contemporary 1968-Now Disneyana Collectibles

Continue reading → Neighborhood Watch

As you may have read, Citigroup recently agreed to purchase Wachovia’s banking operations for about $2.1 billion in a deal brokered by federal regulators. Wachovia’s troubles are similar to those of Washington Mutual, whose assets were seized by the Federal Deposit Insurance Corporation last week and sold to JPMorgan Chase. Wachovia sold thousands of adjustable [...]

• Banking, Insurance Advertising Collectibles

• Federal Reserve Notes Large Size Notes Paper Money US Coins Paper Money

Continue reading → Help Your Neighbors

Welcome to this latest edition of Prosper’s Weekly Roundup. The title for this week’s roundup comes from a Forbes headline. There’s a lot going on in the news! Be sure to check out the Stocks and Banking Industry section for more information.

Peer-to-Peer Lending:
• TNL.net presents fast pace look into the History of Currency. P2P Lending is [...]

• Banking, Insurance Advertising Collectibles

• Postal History Worldwide Stamps

Continue reading → Weekly Roundup - Bottom-Feeders and the Banking Industry

Prosper updates the portfolio plan templates regularly in order to reflect changing risk and interest rate conditions in the marketplace.  It is important that you update your portfolio plans, as these updates include changes to bidding rates based on the most recent loss rate projections.
If plans are not updated regularly, there is a good chance [...]

• Plans, Blueprints Guides Building Hardware Home Improvement

• Heart Rate Monitors Monitors Pedometers Gym, Workout Yoga Exercise Fitness

Continue reading → Why Portfolio Plans should be regularly updated and reviewed

Our global financial system is in the grips of a full blown crash – clearly now the worst since the Great Depression. Just when we think things are stabilizing, a new shock dwarfs all that came before. It’s safe now to say that the old normal will likely never return. This wasn’t caused by just [...]

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• Full Runs Comics Collectibles

Continue reading → Message from Chris Larsen, Prosper Co-Founder and CEO

Welcome to a new edition of the Prosper roundup. There are many stories this week to relate. The first section of this roundup is on the stock exchange and the banking industry. If you have had your head in the sand use these links as a way to dive headfirst into what’s going on in [...]

• Banking, Insurance Advertising Collectibles

• Sand Dollar Shells Rocks, Fossils, Minerals Collectibles

Continue reading → Prosper Weekly Roundup

We have completed the programming and testing on the routine to apply collection account refunds to lenders impacted by the change of accounts from PennCro to AmSher. We are planning to do the initial run of the program on September 22, 2008.  The refunds will include interest on the overage. The logic was developed in such a [...]

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• Pool Chemicals Testing Pools Spas Yard, Garden Outdoor Living

Continue reading → Collection Refunds Update

Ever since we changed the marketplace performance page from listing old loans as “Defaulted” to calling them “Charge-offs”, and then promising more changes inside lender accounts, we’ve had a lot of questions. Let me try to explain why we’re making this change, how it will look if you’re a lender, and what you can expect [...]

• Credit, Charge Cards Trading Cards Collectibles

Continue reading → Charge-offs Explained

We have made the decision to discontinue accepting new lender registrations, and new bids from existing lenders, from residents of the Commonwealth of Pennsylvania. Our decision to make this change was based on our ongoing discussions with regulators in Pennsylvania, which led us to believe the change was necessary to comply with their current interpretation [...]

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• Pennsylvania US State, Town Views Postcards Collectibles

Continue reading → Important Notice for Lenders Residing in Pennsylvania

Prosper roundup gets switched around! Easy to read categories are going to be our new way of organizing the roundup.
Categories may change from week to week, but overall the feel of the roundup will be the same. 
Business Loans:
• SFGate posts an article this last Sunday on how right now it’s a hard time to get new [...]

• Deals Sunday River Maine Skiing Vacation

• Lamp Posts Outdoor Lighting Yard, Garden Outdoor Living

Continue reading → Prosper Weekly Roundup

When I search through listings on Prosper, I generally look for loans from borrowers who have really taken the time to give Prosper lenders a good understanding of their financial situation and the purpose of their loan.
After I bid on a loan, I tend to feel so confident that they are trustworthy and credit worthy [...]

• Credit, Charge Cards Trading Cards Collectibles

• Engines, Multi-Purpose Outdoor Power Equipment Yard, Garden Outdoor Living

Continue reading → Diversification

A highly unusual Prosper borrower bankruptcy case, which is of course a matter of public record, has raised questions among some members of the Prosper lender community. Therefore, we believe it is appropriate and necessary to provide factual clarity to set the record straight.
Specifically, the discussion centers on three main questions:
1) Is this a case [...]

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• Straight Razors Shaving Vanity, Perfume Shaving Collectibles

Continue reading → The Facts of the Matter

In my first blog post last week I talked about how I often share the learnings of successful lenders, as well as the teachings of the marketplace results. My job at Prosper is to show lenders how to use Prosper and its various bidding tools.  Here are a couple of other learnings to consider.
I (and [...]

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• Post-1950 Bookcases Furniture Antiques

Continue reading → There is always another listing

My job at Prosper is to show lenders how to use Prosper and its various bidding tools. I speak with dozens of new lenders at Prosper every day. I often share the learnings of successful lenders, as well as the teachings of the marketplace results.
One of the most critical messages I try to share with [...]

• Cut-Off Tools Air Tools Tools Home Improvement

• Air Tools Tools Home Improvement

Continue reading → The Marathon, not the Sprint

Kiplinger’s recently published an article about Prosper entitled “Risks and Rewards of Online Lending.” The article addresses the expectations Lenders should have with regard to interest rates.
“Lend to a borrower with bad credit and you can expect a higher interest rate. A borrower with a better credit history will get you a lower rate?”
Generally speaking, [...]

• Credit, Charge Cards Trading Cards Collectibles

• Heart Rate Monitors Monitors Pedometers Gym, Workout Yoga Exercise Fitness

Continue reading → Distinguishing between Interest and Return

In October 2007, Prosper launched a Facebook application for our members. In April 2008, we then launched a new Facebook application which allows people to transfer funds to their Prosper lending account instantly. We provided this service because lenders wanted a more immediate ability to bid on loans they liked without having to wait for [...]

• Service Businesses Businesses for Sale Opportunities

• People Postcards Collectibles

Continue reading → Prosper Facebook Application Reaches 5,000 Users

The personal finance blogosphere was packed with great articles this week… Here are a few of our favorites…
GenX Finance details the Top 12 Money Mistakes Most People Make and special congratulations to GenX Finance for being named by PC Magazine to the Top 15 Websites for Managing (and Saving) Money
 
RateLadder updates 1 Month Late or [...]

• Investments Opportunities to Make Money

• Internet Businesses Websites Businesses for Sale Opportunities

Continue reading → Prosper Roundup

Achieving financial freedom means having enough investment income so that you don’t have to work for a living. When your investment income exceeds your living expenses (including taxes), you no longer need a job to pay your bills. Of course, you don’t have to quit your job once you achieve financial freedom, but you have [...]

• Work Womens Shoes

• Dream Catchers 1940-Now Native Americana Cultures, Ethnicities Collectibles

Continue reading → Financial Freedom: How Prosper Can Help You Live the Dream

I guess that today has been two years since I joined Prosper. They sent me a nice note telling me so. What an interesting ride it’s been so far. Euphoric when the first loan I bid on became active and depressing when I followed it to Default. There have been lots of emotion between those [...]SHARETHIS.addEntry({ title: “Reflecting on Two Years of Lending”, url: “http://blog.prosper.com/2008/05/06/reflecting-on-two-years-of-lending/” });

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• Attraction Ride Pins Pins, Buttons Contemporary 1968-Now Disneyana Collectibles

Continue reading → Reflecting on Two Years of Lending

We’re all taught: when in polite company, don’t talk about money, sex, politics, or religion. I don’t know about the last three, but when it comes to money, people are decidedly tight-lipped. A cousin once confided in me (after a few drinks) that he’d racked up $50,000 in credit card debt. You could have knocked [...]SHARETHIS.addEntry({ title: “Putting the social in social capital”, url: “http://blog.prosper.com/2008/04/23/putting-the-social-in-social-capital/” });

• Putting Greens Aids Training Aids Golf

• Credit, Charge Cards Trading Cards Collectibles

Continue reading → Putting the social in social capital

The following is a guest post by a Prosper member: CreditKarma…  You can use the Prosper Performance tool to estimate default risk for Prosper loans.
When I was a marketing and risk analyst with a credit card issuer, the customer’s credit score never really mattered per se. My concern was always with the default risk for [...]SHARETHIS.addEntry({ title: “Is Default Risk Better than Credit Scores?”, url: “http://blog.prosper.com/2008/04/17/is-default-risk-better-than-credit-scores/” });

• Credit, Charge Cards Trading Cards Collectibles

• Marketing Businesses for Sale Opportunities

Continue reading → Is Default Risk Better than Credit Scores?

This is a guest post from Prosper Lender David Makes Cents.
I was just reading an article that I found on Stumble Upon that made me mad! Well ok not really mad because I am a pretty mellow person, but lets just say I didn’t agree with it. The name of their post is pretty [...]SHARETHIS.addEntry({ title: “Why I Think P2P Lending is a Great Idea”, url: “http://blog.prosper.com/2008/04/09/why-i-think-p2p-lending-is-a-great-idea/” });

• Pretty as a Picture Enesco Decorative Collectible Brands Decorative Collectibles Collectibles

• Post-1950 Beds Furniture Antiques

Continue reading → Why I Think P2P Lending is a Great Idea

This is a guest post by Prosper member poppadollars.
A lot has been written about identity theft the last few years. Many people are concerned, and rightly so, that someone will hijack their good name and credit and abuse it. Typically, someone will discover the problem after some time has elapsed and problems have mounted to [...]SHARETHIS.addEntry({ title: “7 Steps to Identity Protection”, url: “http://blog.prosper.com/2008/04/03/7-steps-to-identity-protection/” });

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• Credit, Charge Cards Trading Cards Collectibles

Continue reading → 7 Steps to Identity Protection

Guest Post from Living off Dividends. 
I have a blog called living off dividends where I discuss, among other things, my passion for investing and generating income that can be used to replace one’s salary. I have numerous different types of investments like rental properties, stocks, canadian income funds, CDs, foreign currency ETFs as well as [...]SHARETHIS.addEntry({ title: “Why I Love Prosper.com”, url: “http://blog.prosper.com/2008/03/25/why-i-love-prospercom/” });

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• Love Hina Japanese, Anime Animation Art, Characters Collectibles

Continue reading → Why I Love Prosper.com

The following is a guest post by Prosper Lender Steven Grimes.
I’ve been bidding out money as a lender on Prosper for awhile now, and I find it a great hobby. Some people like skiing, some people like remote control airplanes, I like making money!
I own rental property and it’s a little worrisome at times to [...]

• People Postcards Collectibles

• People Figurines Decorative Collectibles Collectibles

Continue reading → Making Money and Having Fun Helping People!

2 Guest Posts Today From Prosper Members.
Lending on Prosper is Exciting!
by vegetable_lasagna
Sure I could invest money in CD’s, mutual funds, bonds etc. But how boring is that?!?! With Prosper, I feel like I am running my own business - the bank of ME. Except, I don’t have to deal with hiring any employees, answering the phones, [...]

• Bank of Canada Canada North, Central America Paper Money World Coins Paper Money

• Phones Contemporary 1968-Now Disneyana Collectibles

Continue reading → Lending on Prosper is Exciting! & Bid or Not to Bid

Guest post by Brett of Personal Loan Portfolio. 
Although the tax rebate is not yet finalized, many people are already mentally spending the money. Most people only consider the options: save or spend. I have noticed many finance bloggers already announcing their plans to save the rebate. Other people feel it is a patriotic duty to spend [...]

• People Postcards Collectibles

• People Figurines Decorative Collectibles Collectibles

Continue reading → Invest Your Tax Rebate AND Help the Economy

(Editor’s Not: This is a guest post by Prosper Member Colton L.  You may want to consult a tax advisor before acting on any of these suggestions. Your situation is unique and these are generalizations.)
You (1 person) are making the average American salary of approximately $36,000 which is $3,000 a month. But what you are really [...]

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• 1-2 Person Tents Tents Canopies Camping Hiking

Continue reading → How to Get More of YOUR Money from Your Employer

With the economy a bit unsteady, the importance of diversification cannot be ignored. WealthBoy wrote a great post to introduce diversification on Prosper where he observed that a lender should pick up at least 30 different loans to help spread out the risk. Whether you’re diversifying by picking up 30 or 130 loans, it’s important to not [...]

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• Post-1950 Beds Furniture Antiques

Continue reading → Complete Prosper Diversification

2 Weekend Guest Posts from Prosper Members…
Prosper vs. My Credit Card (hint: Prosper Wins) by MommyOf2
Back in early 2007, I went on a little spending spree for by new baby son since I have a mild obsession with baby clothes (OK, maybe it’s a little more than mild). Needless to say, I ran up [...]

• Credit, Charge Cards Trading Cards Collectibles

• Card Guards Casino Collectibles

Continue reading → Prosper vs. My Credit Card (hint: Prosper Wins) and Excited to Help!!

I am mostly a lender and have participated on Prosper since August, 2006. I have checked my credit grade as a borrower and found that I have AA credit due to six figures worth of credit available and very low utilization. The only balances I carry are on credit cards with 0% interest rates.
A few [...]

• Credit, Charge Cards Trading Cards Collectibles

• Stand Bags Carry Bags Golf Bags Golf

Continue reading → Credit Can Be a Powerful Tool

Credit grades (e.g., the FICO score and Experian ScoreX) attempt to predict the likelihood of borrowers repaying their loans. While this score is useful, it is best to supplement it with the borrower’s credit and employment information when developing a lending strategy.
To understand how all of this fits together, it pays to understand the five [...]

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• Manuals, Strategy Casino Collectibles

Continue reading → The Five C’s of Credit and Your Lending Strategy on Prosper

I would like to provide the Prosper community with some of my thoughts on building a profitable lending portfolio. Of course, what such article is complete without mention of diversification? Certainly anyone could tell you that diversifying your portfolio by spreading the risk over multiple investments is a good idea. But how many different loans [...]

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• Multiple Animals Animals Postcards Collectibles

Continue reading → Diversification and Setting Limits

2 Evening Guest Posts by Prosper Members…
Faith in Fellow Humans?
By Kesselschlacht
I came to Prosper after reading an article about this strange concept of borrowing from and lending to people … not banks. After a little more research I decided to jump into it feet first with a whopping $50.00 to be lent to anyone who [...]

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• Evening Womens Shoes

Continue reading → Faith in Fellow Humans — My Thoughts On Prosper

Many of you may have already done your research on tips to get your listings funded by reading the help pages or visiting the Prosper forums. There are many tips that have been reiterated time and time again - such as getting endorsements or joining a group. I hope to give you some tips from [...]

• Guides, Tips Ferrules Rod Building Repair Fishing

• Acrylic Nails Tips Nail Care Polish Store

Continue reading → Maximize the Chance of Funding Your Listing with Not-So-Obvious Tips

Many of you may have already done your research on tips to get your listings funded by reading the help pages or visiting the Prosper forums. There are many tips that have been reiterated time and time again - such as getting endorsements or joining a group. I hope to give you some tips from [...]

• Guides, Tips Ferrules Rod Building Repair Fishing

• Acrylic Nails Tips Nail Care Polish Store

Continue reading → Maximize the Chance of Funding Your Listing with Not-So-Obvious Tips

The Prosper Community is a dynamic group of borrowers, lenders, and group leaders, all brought together for the common purpose of exchanging money.  Over the past year and a half that I have been a part of it I have seen friendships form, enemies get created, and romances take place.  Prosper touches a spot in [...]

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• Half Dimes Coins US Coins Paper Money

Continue reading → Shenandoah on Community

Prosper has recently done something *wonderful* for current and future Prosper Lenders. But I bet you don’t know what it is - or, if you do, why it’s so unbelievably important.Since it’s garnered very little attention in the P2P Lending Community thus…

• Heart Rate Monitors Monitors Pedometers Gym, Workout Yoga Exercise Fitness

• Federal Reserve Notes Large Size Notes Paper Money US Coins Paper Money

Continue reading → Notes on Prosper Lending: Interest Rate & Bidding Guidance

I read about Prosper in a brief MSNBC/Newsweek story on July 31, 2006 titled “Money: Lend Me a Little?”  I figured, I should check it out.  As a young working professional, working at a non-profit organization, it’s not like I have the many thousands (or tens of thousands) of dollars most other investment opportunities require [...]

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• Dollars Coins US Coins Paper Money

Continue reading → From the Prosper Mailroom: omahajay

Kirk Inglis, Chief Financial Officer of Prosper.  Quote: “The $100 million milestone is a reminder that Prosper’s rich and unique set of historical performance data has the potential to benefit both lenders and borrowers.  The free flow of information is the cornerstone of any successful marketplace and Prosper is committed to making its marketplace data [...]

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• Kirk Flatware Sterling Silver Antiques

Continue reading → Prosper’s Abundance of Performance Data: An Asset to Borrowers and Lenders

I come from a background in international development and I’m a huge fan of Muhammad Yunus / Grameen Bank and the concept of micro-loans and empowering entrepreneurs. I was so excited when Pro