The loan discussed in previous posts is in the process of paying: One Loan Late. Not supposed to happen to AA. What does that mean? and Oh No! Another Late Loan… Review of Late Loan #2

Their loan shows a payment as of the 2nd attempt.  So my prediction that the loan would be caught up by was correct.  The consequences to my borrower are a relatively minor $5 failed payment fee (which Prosper.com keeps as they incurred the penalties associated with the failed payment.)

Knowing the consequences of non-payment I find it difficult to believe that any high grade credit would let their loan lapse far enough for consequences.  Yet, I am sure it will happen.  Maybe, just maybe, my standing orders are better at finding a higher quality of borrower… However, each loan is a 3 year journey till payoff and I expect the peak for defaults comes in year 2.

Related posts:

• Late Loan #1, in Process of Paying The loan discussed in previous posts is in the process of paying: One Loan Late. Not supposed to happen to AA. What does that mean? and Review...
• Oh No! Another late loan… Review of late loan #2. In a previous post I wrote about Consequences to a Late Borrower at Prosper.com In this post I will review the credit information of the second late...
• Review of Late Loan #1 In a previous post I talked about the consequences to my first late borrower: One Loan Late. Not supposed to happen to AA. What does that...
• One Loan Late. Not supposed to happen to AA. What does that mean? Of my 46 loans.  1 is now late (less than 15 days). Here is what Prosper.com says will happen now: What exactly happens if I’m...
• New Loan Funded #5989 — $2850 in 45 loans A new loan funded this afternoon (#5989 — PAYING OFF CREDIT CARDS AND HOME IMPROVEMENT — $22,000 14.55%).  I participated via my standing order: High DTI...

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Loan Review, Prosper.com

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