A new loan funded (Try this one more time, group leader, wantabe borrower  – $19,500 at 14.34%).  I participated via my standing order RL Overlooked.  The borrower had AA credit, a 59% DTI, and is a homeowner.  This was a non autofunding loan.  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 $5,147.15 in principal across 81 loans ($63.55 per loan) with an weighted average interest rate of 17.57% and an account value of $5,417.09. Each loan on average is 1.2% of my portfolio with a maximum in any one loan being 3.6%.

Here is the listing:

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

Purpose of loan:
Reinvest in prosper  

My financial situation:
Repayment is not an issue, and I would never jeopardize my good credit to help other people. On the other hand I do want to help but don’t want to use my own principle. this way I can budget a monthly amount to put away and help others at the same time. Pretty ingenius I think. Not to mention the stock market is downright boring right now. So if you want a good loan with my guarantee that there will never be a late payment, you can do your part by bidding down the interest rate. Thanks in advance.

My monthly budget:
I have an estate that pays all living expenses.
I also have a real estate development company and am partner in a electrical contracting company.  

 

Here is a graph of all loans on Prosper with AA credit and a DTI of < 59% and Loan Amount $19,500 +/-$5,000 funded in the last 100 days:

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
48	$17,679.17	11.24%	2.68%

The weighted average plus 1 sigma is 13.92%.  The weighted average plus 2 sigma is 16.6%.  This loan is between 1 and 2 sigma higher than the mean.  I love standing orders. The new RL overlooked standing order is showing potential. 

What do you think?

Related posts:

• New Loan Funded — Too Much Business / Need to Expand — $9,500 at 20% — AA Credit — DTI 45% A new loan funded (Too Much Business / Need to Expand — $9,500 at 20%).  I participated via a 2 standing orders (Low Amt Extreme...
• New Loan Funded — Help with downpayment for semi. — $4,500 at 23.5% — D Credit — DTI 15% A new loan funded (Help with downpayment for semi. – $4,500 at 23.5%).  I participated via a standing order low amt (...
• New Loan Funded — To pay off high int. c.c. and invest in prosper!! — $2,500 at 15% — B Credit — DTI 11% A new loan funded (To pay off high int. c.c. and invest in prosper!! — $2,500 at 15%).  I participated via a standing order Low Amt...
• New Loan Funded — Clearing a personal credit card used for business purchases — $9,500 at 18% — A Credit — DTI 46% A new loan funded (Clearing a personal credit card used for business purchases — $9,500 at 18%).  I participated via an automatic bid Low AMT...
• New Loan Funded — Secure Borrower needs funds to complete rental houses — $25,000 at 12.00% — AA Credit — DTI 25% A new loan funded (Secure Borrower needs funds to complete rental houses — $25,000 at 12.00%).  I participated via my standing order: Mid DTI —...

If you liked this article, vote for it on del.icio.us and stumbleupon.


Categories:

Loan Review, Prosper.com

Tags:

azerbaijan, mozambique