March 20, 2017
Prosper Performance Update: February 2017
By Brad Pennington
Today we are sharing performance data for the Prosper portfolio for February 2017. The Prosper portfolio continues to deliver an estimated return above 7%. During the month of February, we continued to see the expected shift in rating distribution of the book towards higher-risk ratings as a result of the implementation of our PMI7 credit model. This anticipated distribution change is largely due to PMI7's utilization of time series credit data, which provides a significant boost in predictive power. The increase in predictive power enables the net swap-in of customers that would have been declined using PMI6.
March 1, 2017
Prosper Announces Pricing Changes
By Brad Pennington
Prosper will be updating rates offered to people who borrow through the Prosper platform as of March 2nd. This update will impact AA, A and B rated loans, with an increase in pricing of approximately 60bps, 50bps, and 20bps, respectively. Additionally, HR rated loan rates will decrease by 10bps, which is driven by the desire to remain below 35.9% APR.
October 25, 2016
Prosper Announces Pricing Change
By Brad Pennington
Today, the rates offered to borrowers through the Prosper platform are being modified. The changes are a direct result of the forward looking credit market, interest rate expectations, the US credit environment and the competitive environment in US consumer unsecured lending.
October 17, 2016
Prosper Performance Update: September 2016
By Brad Pennington
As we have done for the last several months, today we are sharing performance data for the Prosper portfolio as of September 30, 2016.These updates are intended to give our investors important insights into the trends we are seeing, including as it relates to overall performance and estimated returns. While estimated returns on September 2016 production remained just above 7%*, the estimated returns show a 15 basis point drop from August production. We believe the factors that contributed to this change were 1) a slightly lower percentage of five year loans that were originated in the period; and 2) a higher percentage of B and above loan grades in the period.
October 7, 2016
Prosper Daily’s New Credit Card Optimizer Makes Choosing the Right Card Easier
By Prosper
Since the average American has at least three credit cards and if they’re in debt, pays more than $2,600i in interest fees per year, chances are you may not know which card to reach for when you’re at the cash register. The good news is, there’s an app for that.
September 16, 2016
Prosper Performance Update: August 2016
By Brad Pennington
Today I am proud to share the Prosper Performance Update for August 2016. As you will see in the Update, estimated returns on the August production continue to be slightly above 7% on average.* The Update also shows that the 2016 portfolio is on track to have the highest Internal Rate of Return (IRR) target since 2013 and the highest average FICO to date. We believe this is a result of policy interventions made throughout 2016. Prosper also believes that these ongoing policy improvements will positively impact delinquency in the new 2016 vintages.