A new loan funded (debt relief for kids – $19,500 at 14.34%).  I participated via my standing order RL Overlooked.  The borrower had B credit, a 64% 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: i’m actually asking for this loan to get my children out of a little debt.i got fully funded for a listing before and i was confused about the process so i didnt go through with it. now i would like to try again and get some relief for my kids.My financial situation:
financially i’m fine. i can afford around 300-400 amonth on a loan and still be comfortable.My monthly budget:
Mortgage/rent: $650
Insurance: $included in house note
Car expenses: $350
Utilities: $250
Phone, cable, internet: $50
Food, entertainment: $daughter pays for that
Clothing, household expenses $0
Credit cards and other loan payments: $lets say 500-700
Other expenses: $200
—————————————
Total monthly expenses: $2200

Here is a graph of all loans on Prosper with B credit and a DTI of < 64% and Loan Amount $6,000 +/-$5,000 funded in the last 100 days:

Number of Loans	Average Amount Borrowed	Weighted Average	Standard Deviation
263	$5,913.95	12.56%	2.57%

The weighted average plus 1 sigma is 15.13%.  The weighted average plus 2 sigma is 17.7%. The weighted average plus 3 sigma is 20.27%.  This loan is between 2 and 3 sigma higher than the mean.  I love standing orders. The new RL overlooked standing order is showing potential. 

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Categories:

Loan Review, Prosper.com

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