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State Default Rates — A Publishable Application of the RateLadder ListingKey

In the past I have talked about my technique for adding a ListingKey to the Loan table of the Prosper.com data export.  While I had successfully added the key several weeks ago I hadn’t found an application of the key that I could publish until recently.  A fellow Princetonian and prosper lender suggested that I determine and publish the state default rates.  (This is a hot topic on the forums as many people claim people from Georgia are more likely to default.)  What a brilliant idea.

In order to accomplish you must link from loan to listing to member.  Without adding a listingkey to your loan table this is not possible.

So without further ado here is the best and worst current state default rates for all loans in the data export order by highest percentage of defaults.  This is using data from 2/19/2007 and includes all loans.

Using Only States with at least 70 loans.

Here is the Best 3 by # of Loans:

State Current, Paid, or Purchased Late or Defaulted
Name # of Loans Avg Rate # of Loans % of State Total # of Loans % of State Total
WA  125 18% 122 97.60% 3 2.40%
NY 122 13% 117 95.90% 5 4.10%
IL 168 19% 158 94.05% 10 5.95%

 

 

Here is the Worst 3 by # of Loans:

 

State Current, Paid, or Purchased Late or Defaulted
Name # of Loans Avg Rate # of Loans % of State Total # of Loans % of State Total
GA  250 20% 218 87.20% 32 12.80%
CO 70 15% 63 90% 7 10%
OR 86 21% 78 90.70% 8 9.30%

  

 Here is the Entire List by # of Loans (I removed bad data and loans for which I could not tell the state):

 

 

State Current, Paid, or Purchased Late or Defaulted
Name # of Loans Avg Rate # of Loans % of State Total # of Loans % of State Total
AK  2 9% 2 100% 0 0%
AL 51 20% 49 96.08% 2 3.92%
AR 10 9% 10 100% 0 0%
AZ 102 17% 94 92.16% 8 7.84%
CA 550 20% 505 91.82% 45 8.18%
CO 70 15% 63 90% 7 10%
CT 8 10% 8 100% 0 0%
DE 3 9% 3 100% 0 0%
FL 182 15% 169 92.86% 13 7.14%
GA 250 20% 218 87.20% 32 12.80%
HI 8 10% 8 100% 0 0%
IA 20 14% 20 100% 0 0%
ID 20 16% 18 90% 2 10%
IL 168 19% 158 94.05% 10 5.95%
IN 41 15% 38 92.68% 3 7.32%
KS 34 16% 31 91.18% 3 8.82%
KY 1 4% 1 100% 0 0%
LA 23 15% 22 95.65% 1 4.35%
MA 54 16% 49 90.74% 5 9.26%
MD 38 18% 36 94.74% 2 5.26%
ME 4 17% 4 100% 0 0%
MI 124 19% 115 92.74% 9 7.26%
MN 8 7% 8 100% 0 0%
MO 97 20% 90 92.78% 7 7.22%
MS 3 9% 3 100% 0 0%
MT 9 19% 9 100% 0 0%
NC 51 13% 50 98.04% 1 1.96%
ND 5 21% 3 60% 2 40%
NE 11 13% 11 100% 0 0%
NH 14 20% 11 78.57% 3 21.43%
NJ 45 13% 44 97.78% 1 2.22%
NM 15 23% 13 86.67% 2 13.33%
NY 122 13% 117 95.90% 5 4.10%
OH 4 7% 4 100% 0 0%
OK 20 14% 19 95% 1 5%
OR 86 21% 78 90.70% 8 9.30%
PA 5 3% 4 80% 1 20%
SC 10 11% 10 100% 0 0%
TN 20 10% 19 95% 1 5%
TX 475 19% 435 91.58% 40 8.42%
UT 44 17% 42 95.45% 2 4.55%
VA 42 11% 42 100% 0 0%
VT 2 15% 2 100% 0 0%
WA 125 18% 122 97.60% 3 2.40%
WI 37 14% 35 94.59% 2 5.41%
WV 8 16% 8 100% 0 0%
WY 1 15% 1 100% 0 0%

 


February 19, 2007 | Filed Under Prosper.com, Statistics, Tools 

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