Since the last investor update in April, the overall macro-economic environment has shown signs of improvement, while at the same time, a recent resurgence in COVID-19 cases and subsequent shutdowns by several states pose a risk to the ongoing recovery. At Prosper, we remain disciplined and cautious with respect to the current environment and we continue to take actions on both the current servicing book as well as new originations to help actively manage investor returns.
Prosper’s Monthly Performance Updates are designed to help our investor community understand performance trends on the Prosper Platform. During the month of May, approximately 96% of originations were rated AA-B compared to 80% the prior month, driven by credit tightening in response to the current environment. Read more for additional insights into May’s performance.
The Performance Update for April 2020 is now available. In April, approximately 80% of originations were rated AA-B compared to 66% in the prior month, driven by credit tightening in response to changes in economic conditions related to COVID-19. Read the full report for more details.
The last several weeks have been unprecedented for our country and the world. At Prosper, we have been closely monitoring the rapidly changing environment and the impact that COVID-19 will have on overall unsecured credit performance.
During the month of February, approximately 65% of originations were rated AA-B. The dollar-weighted average FICO score on the platform was 723, representing a 3-point increase month‑over-month.
Prosper’s monthly performance update for January is now available. In January, 62% of originations were rated AA-B. The dollar-weighted average FICO score on the platform was 720, flat month-over-month. The Prosper Performance Updates are designed to help our investor community better understand performance trends and to provide important insights into the trends we are seeing and the information needed to invest through the Prosper platform.