October 10th, 2008 — , Community, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
That’s what the email from Prosper said and I do consider it good news. I realize that some lenders resent borrowers who prepay their loans, but I’ll never hold it against someone. I’ve never personally carried a loan to term–I’ve always paid them off…
Related StoresContinue reading → Good news! One of your Prosper loans has been paid in full!
October 6th, 2008 — , Late Loan Charts, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
It’s time once again for my updated late loan charts. For those who may not have followed these posts in the past, I’m hoping to establish the expected percentage of dollars loaned that one can expect to go late at each month of age. The data are from …
Related StoresOctober 4th, 2008 — , Advice for New Lenders, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Well, it finally happened. I had a portfolio plan set to bid on listings with little chance of funding in an effort to attract attention to this blog and my website, http://www.prosperlinks.bravehost.com/. I funded this plan with $50.03 on June 3rd of …
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September 23rd, 2008 — , Pictures That Make You Wanna Bid, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
This pianist looks like treble…
“I am a good candidate for this loan because I just need a lilttle of extra money to make ends meet.”
“I am caught in a trap”
“we a sweltering.”
“I can show you proof of anything you’d like to see. ”
“If these loan don’t get funded i will have no choice but to turn to bank loan sharks! So
Related StoresSeptember 18th, 2008 — , Prosper.com, aig, bailout, biden, fiscal responsibility, flirtation, hard earned money, mail, mpa, pa government, palin, political concerns, political views, privacy right, private corporations, protectionism, public money, rate caps, state legislator, state of pennsylvania, wire taps from RateLadder @ Rate Ladder
Other than a brief flirtation with the Draft Gore movement I have stayed away from my political views on RL, but I am afraid I can no longer stay silent. I am an off the deep end libertarian who believes that Clinton proved to be an awesome president (in terms of free will, government [...]
Related StoresContinue reading → Pennsylvania Citizens Are Children in Need of Supervision
September 17th, 2008 — , Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
I just found out today that Prosper had a Screen Name Generator * (after seeing some rather strange borrower screen names on listings, such as “value-demon”). I have no idea how long this thing has been around, but it sure makes some interesting names.
*-must be logged out to see
So, lets have some fun!
Here are some good ones we’ve seen so far:
debtasaurus-rex
the-loot-emperor
September 15th, 2008 — , Community, Low Risk Loans, Prosper Forums, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Long-time Prosper lender, Mtnchick is an active participant on Prospers.org and now has an active listing. This listing fits my sub-portfolio described in my previous posts: Forum Lenders = Good Borrowers? and Forum Lenders = Good Borrowers? (Update). …
Related StoresSeptember 15th, 2008 — , Pictures That Make You Wanna Bid, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
“I am a server at red robin making $80-$140 night and I would like so dearly to make this web company become my future career.”
“Do you want to make money?” No, I want you to put some clothes on…
I didn’t realize it was possible to play twister without the mat…
“My Credit score is 660 as of last month before My identity was stolen.”
“I could ask my
Related StoresSeptember 13th, 2008 — , Advice for New Lenders, Community, Low Risk Loans, Prosper Forums, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
I posed this question in July in this post. At the time, I promised updates as these loans age and as more loans are included in this sub-portfolio. Since then, I’ve made two more of these loans and the others all remain current with no late payments. …
Related StoresSeptember 10th, 2008 — , Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
It’s no secret that Prosper loan originations have been steadily declining since they peaked in May. Eric’s chart shows a precipitous drop over the past 3 months.Last fall at the Aloha Meet & Greet in HI, Chris Larsen publicly stated that originati…
Related StoresSeptember 8th, 2008 — , Pictures That Make You Wanna Bid, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
“This past year I hit rock-bottom. “
“A major crash is inevitable and drawing near.”
“I was in a bad relationship with my 20 month olds father and he burned all of my belongings a little over a year ago while I was at work.” Except the bath tub and a little soap…
A nice group of attractive friends. What a wonderful memory this picture must bring. Except
Related StoresSeptember 5th, 2008 — , Prosper.com, WnF Index from LC @ LC's Warm n Fuzzy Prosper Blog
August 08 Warm n Fuzzy Index:
53% - 37/70
(Last month’s reading: 53%)
8/10 - Personal Performance: +1 from previous month. My ROI broke above 8% again (just barely)
6/10 - Peer Performance: No Change.
7/10 - Prosper Management: No Change. John Witchel, co-founder of Prosper left. I’m not sure if this is a big deal or not.
8/10 - Platform Improvement: +1 from previous month. (click here to
Related StoresSeptember 4th, 2008 — , Late Loan Charts, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
For those who’ve only recently started reading, I’ve been doing my own late loan analysis and posting the results here.A short description of my methodology–I only include loans Non-Autofund loans originated since April 1, 2007 because all of these lo…
Related StoresSeptember 3rd, 2008 — , Defaults, Prosper.com, ROI, late from LC @ LC's Warm n Fuzzy Prosper Blog
It’s been a while since I went through the trouble to see how my Prosper portfolio is doing, so here it is.
I use Excel’s XIRR function and count all loans 1 month late or more as having $0 loan value, 17 loans.
XIRR (ROI) = 8.06%
Average Loan Age = 511 days
I was a little surprised that the ROI went up since the last time I calculated it. I’ve had a bunch of loans slip into the death zone
Related StoresContinue reading → Sept. Performance Update – LC’s Prosper ROI
September 2nd, 2008 — , Community, Late loans, Prosper Forums, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Prosper has given an official response to the concerns, brought to light in fred93’s blog and the Motley Fool article, arising from it’s handling of the bankruptcy case on this loan.Prosper lender xraider originally discovered the complaint by the husb…
Related StoresSeptember 2nd, 2008 — , Pictures That Make You Wanna Bid, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
A crapper with cup holders? Now we’re talkin’! But it’s still missing a magazine rack, foot-rest, and pillow…
“My financial situation:is very stable I am a Poker dealer . I’ve been one for three years going on four. It’s a very lucrative business I been in the field since I graduated High School first starting out as a hostess. During my tenure I met a host of prominent
Related StoresAugust 31st, 2008 — , Community, Late loans, Prosper Forums, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Avoid This Company Like the PlagueThat’s the headline of the article written by Chuck Saletta about Prosper. The article is primarily concerned with Prosper’s filing in a US Bankruptcy Court regarding this loan. In the filing, Prosper denies directly l…
Related StoresAugust 31st, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Late last month I reviewed the loans made in May that were already falling behind. One month later, I thought it would be a good time to check on their status.You can see the four late A loans I discussed last month in this post. There is some good new…
Related StoresAugust 30th, 2008 — , Advice for New Lenders, Community, Late loans, Prosper.com, ROI, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Has Prosper turned the corner and realized that lenders are the key to it’s success? The official Prosper Blog, which for so long seemed dedicated to attracting only borrowers, has focused its last three posts on lenders’ concerns. But that’s not all.O…
Related StoresAugust 27th, 2008 — , Advice for New Lenders, Portfolio Plans, Prosper.com, ROI from Jeremy Frazao @ Prosper Lending, My Experience
I’ve been pretty conservative from the start as you can probably tell by the average lender rate on my portfolio. So far, it’s paid off. A while back, I decided I’d try a portfolio plan to increase my ROI. (In a future post, I’ll examine this sub-po…
Related StoresContinue reading → I’ll stick with handpicking loans for a while
August 24th, 2008 — , Community, Low Risk Loans, Prosper Forums, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Right now, there are 3 long-time lenders and forum participants asking for loans. Two are large loans about to expire unfunded. I just found out about these two or would have bid. If they re-list, I will. Here they are.Ms. TabbyKats listing–$4,000 AHe…
Related StoresAugust 23rd, 2008 — , Collecting late loans, Ethics, General, Prosper.com from fred93 @ Posts from all blogs
Be careful what you say to the judge. It can get you into lots of trouble. On July 25, 2007, prosper.com issued a loan to “Oakland Gaerke” for $25,000. (We know this from public bankrutpcy court records.) A couple of payments were made, but …
Related StoresContinue reading → Prosper.com - You got some ’splainin’ to do
August 22nd, 2008 — , Collecting late loans, Ethics, General, Late loan stats, Prosper.com from fred93 @ Posts from all blogs
In early 2008, $735,000 of late prosper loans disappeared from lender’s statements. On 01/15/08, prosper promised monthly “supplementary statements” to lenders covering these loans. Hasn’t happened. No statements have been produced. By my count…
Related StoresContinue reading → Prosper.com - lender statements now 7 months late
August 22nd, 2008 — , Late loans, Portfolio Plans, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
The lender on the loan who originally disclosed the less than 15 day late status today announced the loan cured and is once again current!With the screen name history restored and the loan current, I consider this issue resolved. Some may still wonder…
Related StoresAugust 21st, 2008 — , Advice for New Lenders, Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
The other day I posted about a Prosper ad for a disabled referral program here. It now appears Prosper has fixed the problem.Clicking on the ad does take you to the home page where you see nothing that mentions a referral or bonus. However, then clicki…
Related StoresAugust 20th, 2008 — , Community, Late loans, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Yesterday, I posted about Prosper’s deleting the screen name history of their CFO after it was revealed his loan was less than 15 days late.I’m glad I captured a screenshot to post, because they have now reversed themselves.http://www.prosper.com/group…
Related StoresContinue reading → Prosper CFO’s Screen Name History Restored
August 19th, 2008 — , Advice for New Lenders, Community, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
by Prosper management!Prosper’s CFO has a loan that is less than 15 days late, exposed by a lender on the loan in this thread on Prospers.org. Today, the lender let everyone know that daggers appeared on the loan.Though Bamalucky blogged about this yes…
Related StoresAugust 19th, 2008 — , Prosper, Prosper.com, US, chris denend, john witchel, tom pigoski from wiseclerk @ P2P-Banking.com
Short news update on Prosper.com developments:
Changes at the Prosper management team: John Witchel (former CTO) and Tom Pigoski are no longer listed as part of the management team. A comment on this blog post indicates that John Witchel has left the company while Tom Pigoski is on family leave. Chris Denend is now CTO.
Prosper [...]
August 18th, 2008 — , Advice for New Lenders, Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Not if you clicked on an ad like this lately…The referral program that offered this activation bonus was terminated on July 1, 2008 and replaced by the program described on Prosper here. The ad was placed on various sites and blogs to generate income…
Related StoresContinue reading → So You Think You’re Getting a Sign-Up Bonus?
August 18th, 2008 — , Listing Quotes, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
“I may have had no reponse from prosper in the past but I do believe in their television ads. I know that I beleive in this and that there is someone that will believe in me and give me a chance. ”
“Although I am technically un-employed (layed off in January), I do have unemployment money coming in to help me financially while I try to strat up this business. ”
“I do not have outstanding
Related StoresAugust 17th, 2008 — , Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
I guess this qualifies as an official announcement. Posted in the comments to this post on the official Prosper Blog”Sadly, John has decided to leave the company to pursue other passions.John is an entrepreneur at heart and has started several successf…
Related StoresAugust 17th, 2008 — , Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
It appears this is no mistake. Now John Witchel’s LinkedIn profile has his time at Prosper ending August 2008 and described in the past tense.Still no word from Prosper. Nothing on their blog, nothing in their forums, and nothing found in a Google sear…
Related StoresAugust 17th, 2008 — , P2P Lending, Prosper.com, peer to peer lending, prosper.com. p2p lending from Peer-Lend @ Peer-Lend
Prosper’s latest site update announcement (August 14, 2008 - details on their blog) included the following very brief note which signals a major shift in market dynamics - and, potentially, depending upon details which were not released (and are not apparent - and, note to Prosper, therefore not transparent), has implications even to the overall [...]
Related StoresAugust 16th, 2008 — , Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Are changes afoot at PMI? Prosper lender bamalucky broke this story yesterday on his blog. It appears John Witchel is no longer a member of the management team at Prosper when viewing Prosper’s Management and Investors page. His name was previously …
Related StoresAugust 16th, 2008 — , Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Are changes afoot at PMI? Prosper lender bamalucky broke this story yesterday on his blog. It appears John Witchel is no longer a member of the management team at Prosper when viewing Prosper’s Management and Investors page. His name was previously …
Related StoresAugust 14th, 2008 — , Advice for New Lenders, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Now that I’m home from work, let’s take a closer look at the changes Prosper made last night.The first (and most obvious) is something some lenders have been clamoring for, sort of. By showing all 4+ month lates as charged off, lenders should be able t…
Related StoresAugust 14th, 2008 — , Late loans, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
The Performance Page on Prosper no longer shows “Defaults.” Now, as you can see from the screen shot below, the category has been replaced with “Charge-offs” and “Net Charge-offs” in the “Performance Data” table.New Performance Data Table on Performanc…
Related StoresAugust 12th, 2008 — , Advice for New Lenders, Portfolio Plans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Trusting Portfolio Plans to do your bidding may minimize the time you invest, but they can’t see the danger in listings like this: Trying to start my Life in Los Angeles.If the title isn’t enough to scare you away from this listing, take a look at the …
Related StoresAugust 7th, 2008 — , Late Charts, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
This post is the monthly update on my Late Charts. Last month the charts seemed to show that lenders may be doing a better job choosing loans. Each month newer loans will be added to each month of loan age and averaged in with the previous loans. If th…
Related StoresAugust 7th, 2008 — , Pictures That Make You Wanna Bid, Prosper.com from LC @ LC's Warm n Fuzzy Prosper Blog
Description from Listing:
“Purpose of loanCash Flow- We need to increase our inventory for the winter season.
My financial situation:I am a good candidate for this loan because… I have never defaulted or been late for a loan. The business is already making money after only being open 7 months.
Monthly net income: $ 11,700.00″
Pretty girls help sell motorcycles. Will they help sell this listing?
August 5th, 2008 — , Community, Prosper.com from Jeremy Frazao @ Prosper Lending, My Experience
Some have speculated that Prosper may have reached it’s peak, and the platform cannot be sustained at current levels of funding. This is being discussed on Prospers.org in this thread. Personally, with traditional lenders tightening standards and tradi…
Related StoresAugust 4th, 2008 — , Advice for New Lenders, Common Mistakes, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
How many times have you heard the cry, “Why is this an (insert low credit grade here)?” I’ve seen it posted on the forums from borrowers and lenders many times. Many times the conclusion drawn is that Scorex sucks and is terribly flawed. Don’t be to…
Related StoresAugust 3rd, 2008 — , Collecting late loans, Ethics, General, Prosper.com from fred93 @ Posts from all blogs
Supplemental statements tracking $735,000 of loans were promised monthly, and are now 6 months overdue.On 01/15/2008, Prosper.com sent an email message to many lenders, explaining that 68 very late loans were being moved to a new category, a “legal te…
Continue reading → Prosper.com - lender statements 6 months late
August 2nd, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
This will be the final post in this series as we take a look at the D loans originating in May that are already late.Loan #1: 1 Month Late $1,000 D @ 29.11%http://www.prosper.com/lend/listing.aspx?listingID=334932The title tells me to stay away, move o…
Related StoresAugust 2nd, 2008 — , Collecting late loans, General, Late loan stats, Prosper.com from fred93 @ Posts from all blogs
Here’s the August 1st update to to my Prosper.com late loan statistics charts.These charts show statistics for the performance of all prosper.com loans. Each curve represents the set of loans that were created in one calendar month. The vertical axis …
Continue reading → Prosper.com - 08/01/08 late loan stats update
August 2nd, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Today, we’ll examine the 6 C’s that originated in May and are already late.Loan #1: Late $5,000 C @ 35% AFhttp://www.prosper.com/lend/listing.aspx?listingID=324710Autofund has been shown to drastically increase the rate of default. Why anyone still b…
Related StoresAugust 2nd, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Today, we’ll examine the 6 C’s that originated in May and are already late.Loan #1: Late $5,000 C @ 35% AFhttp://www.prosper.com/lend/listing.aspx?listingID=324710Autofund has been shown to drastically increase the rate of default. Why anyone still b…
Related StoresAugust 1st, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
As promised, we’ll take a closer look at the B late loans from May 2008 today. I’m not going to bother with the E and HR loans, because their elevated risk is a red flag in itself. These loans usually contain other red flags, but most new lenders shoul…
Related StoresJuly 31st, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
Lending on Prosper, you’ll hear a lot of people say “You just can’t tell who will and who won’t repay!” If that’s the case, then I’ve just been lucky so far. Since I tend to believe that we make our own luck for the most part, I just can’t concede tha…
Related StoresJuly 30th, 2008 — , Advice for New Lenders, Common Mistakes, Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
I found this loan while investigating a blender’s request–going through her late loans. After blogging on pious borrowers the other day, this seemed to follow quite nicely.http://www.prosper.com/lend/listing.aspx?listingID=296216Quote from listing tex…
Related StoresJuly 29th, 2008 — , Late loans, Prosper.com, lending strategy from Jeremy Frazao @ Prosper Lending, My Experience
As promised yesterday, I’ll examine the 3 lates in my Fantasy Prosper account. These made it through the filters on my pp’s and saved searches, so I’d like to check to see if they’d also have passed my “smell test.”http://www.prosper.com/lend/listing.a…
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