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Prosper’s Developers Tools and Data Mining Service
In the last year Prosper.com has introduced a series of developers to help build upon the platform. These tools allows users to acquire data about Propser loans in one of two ways: via an API...
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Prosper Adds New Collection Agency: AmSher
Prosper has started using a new collection agency called AmSher. Many people who follow Prosper view this as a challenge to the weak performace that Penncro has had in collections of late and defaulted...
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Borrowers Need Longer and Better Descriptions for Better Chance of Funding
One of the fastest turnoffs for me when judging the merits of a loan request on Prosper is a meager description of why the borrower needs the money. I have seen descriptions as tiny as “Got some bills...
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Length of Employment Has Big Impact on Default Rates
With Prosper loans, I’ve often suspected that there is a direct correlation between default rates and length of employment but had never checked my suspicion against Prosper’s performance data.It...
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It’s a good idea to send late borrowers a note
While it might not make a difference to someone in dire straits or in a bankruptcy, it could help keeping the community aspect alive within Prosper: it’s within the rules to send a late borrower a note...
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Prosper’s a-gonna start suing
One of the takeaways from "Prosper Days 2008" is that Prosper is going to start filing law suits for collections of defaulted loans.Prosper is planning to starting the process slowly, as of today, a...
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Payment dates are going to change to improve loan performance
Some good news from Prosper Days 2008 for both borrowers and lenders: Prosper is planning to modify their policy on when payments are pulled from borrowers bank accounts to better match their pay...
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Changes in Advance Search
A pair of recent change were made in the advanced search criteria on the Prosper.com website, one has been causing users some confusion.The first is the 'disappearance' of advanced search categories. I...
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Criteria for 2nd Prosper Loan has Changed
Prosper has changed the eligibility criteria for borrowers wishing to get a second loan with Prosper.The minimum amount of consecutive on time payments is now 6 months. Before it was only 2 months....
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No More “Bank Account Verified” Icon
When you are looking at a listing on Prosper, you used to see 2 icons at the top of the listing, one for homeownership verification and the other was for bank account verification.The bank account...
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Listings on Prosper are now all 7 days
The Prosper listing creation process has now been fixed at 7 days. This is intended as a means to simplify the loan generation process. Its also viewed as a way to create more fundable listings.I'm not...
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Interesting New Study Published About Prosper Returns
Prosper has done a lot of work to make data transparent. Increasingly economists and credit analysts have started to study the Prosper model.Economists Ginger Zhe Jin and Seth Freedman of the...
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Prosper Written About in the New York Times
If you want to read a great book that will turn a lot of ecomonic theories on their heads, read Freakonomics. It's a great book. The author, Stephen J Dubner, is apparently a fan of Prosper and makes...
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Prosper Starts to Publish Bankruptcy Details
Prosper.com is now providing chapter and filing date information for bankruptcies filed by prospective borrowers. If a Prosper loan listing appears where a bankruptcy has taken place, a new set of...
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Prosper Introduces Institutional Lending
Its been a topic of conversation among blogs and message boards: are there any institutional lenders using Prosper? Is it even allowed?Well, the answer is yes, they are allowed and as of now, they are...
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Prosper Referral Program Ending, Better Act Now!
You've got until June 30, 2008 (4 days from today) to register with Prosper and take advantage of the bonus for signing up as a lender.Nobody knows what will happen to the referral program as of now,...
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How to Make an Endorsement Count
Endorsements are a useful tool to help get potential lenders interested in your Prosper loan. There are a few ways to get the most out of this technique which can sometimes make the difference in...
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I've Been Listed on the Prosper Website!
Well, I've finally recieved some noteriarty from the Prosper.com website, my blog has been listed! It's nice to be recognized for my effort in contributing useful information to the community.If you...
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Snowflaking your Prosper Loan to Save Interest
Snowflaking is a way to save on interest. The general principle is to pay in a small extra amount towards a loan every month, a $5 snowflake here, a $10 snowflake there starts to build into a snowball...
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Prosper in the News
Prosper has been in the news recently...At MSNBC, Prosper is mentioned in regards to formalizing terms of a loan, something I've blogged about beforeAn eBay for lending at aLiveECommerce Times talks...
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