I recently swore off non auto funding loans. Since making that choice my standing orders haven’t found any auto funding loans to their liking. Granted, my interest rates are very very tight (weighted average plus 1.5%) and my credit requirements are quite stringent (no current delinquencies, less than 10 delinquencies in last 7 years, less than 2 public records in last 10 years), but the $225 from the sale of a domain has made it to Prosper and I now have $331 (6 loans) waiting on appropriate listings. Did I make the the right choice?
As impatient as I am I think getting rid of non auto funding loans was still the right choice. If I haven’t found a loan in the next day or two I will be reducing my interest rates for all bids currently over 15% by 0.5%. This should find a few more listings and still ensure that the interest rate is tight enough to ensure a funded loan.
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New Loan — debt consolodation [sic] — $25,000 at 15.00% — B Credit — DTI 15% A new loan funded this afternoon (debt consolodation [sic] (Loan #6434) â $25,000 at 15.00%). I participated via my standing order: Low DTI and Mid DTI â NAF. Which is this loan was funded as a low and medium debt to income ratio and was an non-auto-funding loan. The borrow had B......
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