A new loan funded (Paying - Bills – $15,000 at 15%).  I participated via my standing order High Amt(>=15K) — Low DTI (<15%) -- AF (Autofunding).  The borrower had A credit, a 13% DTI.  As a reminder my standing orders (and manual bids) only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10. 

With this loan I have $4,747.15 in principal across 74 loans ($64.15 per loan) with an weighted average interest rate of 17.63% and an account value of $5,227.24. Each loan on average is 1.2% of my portfolio with a maximum in any one loan being 3.8%.

Here is the listing:

For the readers that believe in reading the actual description without modification (opps the borrower left the default description):

Purpose of loan:
(explain what you will be using this loan for)My financial situation:
(explain why you are a good candidate for paying back this loan)

My monthly budget:
Mortgage/rent: $
Insurance: $
Car expenses: $
Utilities: $
Phone, cable, internet: $
Food, entertainment: $
Clothing, household expenses $
Credit cards and other loan payments: $
Other expenses: $
—————————————
Total monthly expenses: $

Here is a graph of all loans on Prosper with A credit and a DTI of < 13% and Loan Amount $15,000 +/-$5,000 funded in the last 100 days:  

 

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
37	$13,012.22	11.32%	2.39%

The weighted average plus 1 sigma is 13.71%.  The weighted average plus 2 sigma is 16.1%.  This loan is between the 1 sigma and 2 sigma higher than the mean.  I love standing orders.

What do you think?

 

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Categories:

Loan Review, Prosper.com

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