As described on the September 24 site update, borrowers whose loans were 91 or more days past due on that date (and not in bankruptcy proceedings) received a notice of acceleration. The Notice of Acceleration is a warning that the loan will be accelerated in 30 days, meaning the loan will be due and payable [...]
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Charge-offs begin today
October 28th, 2008 — , Misc, Prosper, Prosper Borrowers, Prosper Lenders, Site Updates from Prosper Blog @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Prosper adds new loan object status to API
October 24th, 2008 — , Misc, Prosper, Prosper 3rd Party Applications, Site Updates from Prosper Blog @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Prosper changed the way we report most severely delinquent loans from “Defaulted” and “4+ months late” to “Charge-offs” in September.
Borrowers whose loans are 91 or more days past due (DPD) will receive a “Notice of Acceleration”. The Notice of Acceleration is a warning that their loan will be accelerated in 30 days, meaning the loan [...]
Continue reading → Prosper adds new loan object status to API
Prosper Filing Registration Statement; Enters Quiet Period
October 15th, 2008 — , P2P Lending, Prosper, Prosper Borrowers, Prosper Lenders, Site Updates, peer to peer lending, personal loans, prosper news from Prosper Blog @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Prosper has started a process to register, with the appropriate securities authorities, promissory notes that may be offered and sold to lenders through our site in the future.
The registration filing is a necessary step toward making the secondary lending market available to the community. This is something many of you have been asking for, and [...]
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Continue reading → Prosper Filing Registration Statement; Enters Quiet Period
Site Update – September 24, 2008
September 24th, 2008 — , Site Updates, prosper news from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Last night we released another update to the Prosper site. The most significant change is the way that severely delinquent loans (charge-offs) are now reflected in lender’s accounts. You may also notice a few other small changes that we hope you will appreciate, as I will detail below.
Loans designated as “Charged-offs” after 4 months late
As [...]
Charge-offs Explained
September 16th, 2008 — , Financial, Misc, Prosper, Prosper Borrowers, Prosper Lenders, Site Updates, collections, employee, prosper news, support from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
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 [...]
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August 14th, 2008 — , Site Updates from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Last night we made another update to the Prosper site. We’ve focused on making the site easier to use (particularly for first-time members), and have changed the way delinquent loans are displayed.
Family and Friend Lenders can bid via PayPal or Credit Card
In this release, borrowers will find it easier to request (and receive) bids from [...]
Borrower Signed Notes
June 24th, 2008 — , Site Updates, prosper news from Ed Giedgowd @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
A few people have asked for more detail about our new feature and process change where borrowers will now be signing promissory notes. We’ve been asked whether the change was made to fix a weakness in the process.
There has never been any weakness in the manner in which borrowers have signed Prosper promissory notes. Prosper’s [...]
Site Update – June 24, 2008
June 24th, 2008 — , Site Updates from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Last night we made another update to the Prosper site. The update includes a few nice changes for lenders and some important process changes.
Adjust the rate on your portfolio plans
When you add a portfolio plan to your lender account, now you can adjust the average bidding rate on your portfolio plan from the “Fund your [...]
Site Update – May 19, 2008
May 18th, 2008 — , Site Updates from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Last night we did one of the biggest releases of code to the Prosper site that we’ve ever done. What? You didn’t notice anything? Perfect.
One of the less glamorous sides to building web sites (or building anything, come to think of it) is that sometimes you have to stop working on the sizzle and get [...]
Portfolio Plan Updates Are Here
April 25th, 2008 — , Site Updates from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
We made an update to the site last night to add a new feature to portfolio plans.
Prosper has updated the criteria in the templates for the Conservative, Balanced, Moderate and Aggressive portfolio plan models. This will not change the criteria of your portfolio plans; however, if you wish to alter your plan criteria to match [...]SHARETHIS.addEntry({ title: “Portfolio Plan Updates Are Here”, url: “http://blog.prosper.com/2008/04/25/portfolio-plan-updates-are-here/” });
Site update – April 15, 2008
April 15th, 2008 — , Site Updates, prosper news from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Last night we released some big changes to the Prosper site.
Nationwide lending at 36% interest rate cap
After a couple years of turning away Nevadans completely and forcing Pennsylvanians to set their interest rates below 6%, we are opening up the marketplace to borrowers in almost every state of the union, with a marketplace-wide rate cap [...]SHARETHIS.addEntry({ title: “Site update – April 15, 2008″, url: “http://blog.prosper.com/2008/04/15/site-update-%e2%80%93-april-15-2008/” });
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February 23rd, 2008 — Site Updates, prosper news from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Portfolio Plans for everyone
Now lenders can create their own portfolio plans, with all of the controls available in the existing portfolio plan templates. Existing standing orders have also been converted to portfolio plans, and will include estimated return data (when available) to help lenders make better lending decisions.
Additionally, lenders can now share their portfolio plans [...]
Doug Fuller on Collections #1
January 4th, 2008 — Site Updates, prosper news from Doug Fuller @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
One of the many activities aimed at improving collections undertaken in the last couple of months was the testing and implementation of an “Early Delinquency” letter series. Although borrowers were already receiving reminder emails and phone calls during the early delinquency period (1 -30 days past due), we thought it worth seeing if an actual [...]
Related StoresDebt Sale Results 12/2007
December 27th, 2007 — Site Updates, prosper news from Prosper Blog @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
We completed a debt sale this week which will be evident as of today on the account pages of lenders who own loans that were sold.
When a loan is sold, it is marked as defaulted on the Prosper site and in the performance metrics. If one of your loans was sold you received or will [...]
Thoughts on the Final Engineering Release of the Year
December 24th, 2007 — Site Updates, prosper news from John Witchel @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
The last release of 2007 was a special release… It was officially known as R103 (*we will improve the names of all future releases*). It was a short release cycle, but it was important.
First and foremost, our engineering team is world class. I appreciate each and every one for their hard work and dedication to [...]
Continue reading → Thoughts on the Final Engineering Release of the Year
Site Update 12/19/2007
December 19th, 2007 — Site Updates from Andrew Martinez-Fonts @ Prosper Blog: Prosper, the online marketplace for people-to-people lending
Tonight we did a bunch of back-end work and made a couple of changes that you might notice…
Lender overview changes
We’ve received a lot of feedback from lenders that the “Active loan summary” box on the “Your Account > Lending” page is confusing and unclear. Furthermore, it looks like some of the items should add up, [...]
