23 October 2017
Register now

Prosper loan loss rate drops by 65%

21 September 2010  |  3463 views  |  0 Source: Prosper

Prosper.com, the world's largest peer-to-peer lending marketplace with approximately 35,000 loans totaling $205 million, today released a peer-to-peer lending risk management analysis report, which includes a detailed comparison of pre-quiet period ("Prosper 1.0") and post-quiet period ("Prosper 2.0") loan loss rates. The company also released peer-to-peer lending market survey statistics for August 2010.

"Last month we noted that our focus on risk management this past year has led to dramatically improved lender performance," said Chris Larsen, Chief Executive Officer and Co-founder of Prosper. "With the release of today's report, we're shedding even more light on the marked contrast between pre- and post-quiet period loan performance by taking a deep dive into loan loss rates. As may be gleaned from the report, post-quiet period loan loss rates are approximately 65% lower compared to pre-quiet period loan vintages; and even when controlled for the higher minimum credit score requirement of 640 that was introduced in July 2009, loan loss rates are still 60% lower."

Larsen continued, "Clearly the risk management guardrails that have been implemented are paying off for lenders and setting the table for peer-to-peer lending to become a mainstream asset class for both individual and institutional investors."

Comments: (0)

Comment on this story (membership required)

Related company news


Related blogs

Create a blog about this story (membership required)
visit www.fivedegrees.nlvisit www.innotribe.comRegister now

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
16369 views comments | 19 tweets | 32 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
13990 views comments | 22 tweets | 28 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10301 views comments | 12 tweets | 23 linkedin
satelliteGates Foundation backs Ripple collaboratio...
10052 views comments | 13 tweets | 10 linkedin

Featured job

Competitive base, double ote, benefits
London, UK

Find your next job