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?
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Loan Review, Prosper.com
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