A new loan funded (paying off taxes – $25,000 at 11.44%).  I participated via my standing orders Low Amt (<15K) Mid DTI(<25%) AF (Autofunding) and  Low Amt (<15K) High DTI(<40%) AF (Autofunding).  The borrower had A credit, a 21% 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 $5,047.15 in principal across 79 loans ($63.89 per loan) with an weighted average interest rate of 17.59% and an account value of $5,387.82. Each loan on average is 1.2% of my portfolio with a maximum in any one loan being 3.7%.

Here is the listing:

For the readers that believe in reading the actual description without modification:

Purpose of loan is to pay off taxes My financial situation: I have been working at the post office for 15 years.
(explain why you are a good candidate for paying back this loan)

My monthly budget:
Mortgage/rent: $700
Insurance: $100
Car expenses: $80
Utilities: $0
Phone, cable, internet: $100
Food, entertainment: $100
Clothing, household expenses $20
Credit cards and other loan payments: $400
Other expenses: $0
—————————————
Total monthly expenses: $1500

 

Here is a graph of all loans on Prosper with A credit and a DTI of < 21% and Loan Amount $14,000 +/-$5,000 funded in the last 100 days:

  

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
66	$12,108.32	11.67%	2.66%

The weighted average plus 1 sigma is 14.33%.  The weighted average plus 2 sigma is 16.99%.  This loan is between 1 and 2 sigma higher than the mean.  I love standing orders.

What do you think?

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Loan Review, Prosper.com

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