In the recent default debt sale I had a loan sold.  This is my first opportunity to account for such an event.  I use Quicken for my personal finances including my Prosper account (read about it here).

Here are the details of my defaulted loan:

CreditGrade: AA
Homeowner: Yes
Verified Account: Yes
Debt to Income Ratio: 25%
Very Clean Extended Credit
Sale date: Aug-24-2007
Sale reason: Delinquency
Principal balance before sale: $143.87
Loan value before sale: $152.68
Proceeds from sale and forfeited group rewards: $36.63

$36.63 / $143.87 = .2546

So what did I enter into quicken?

I entered a Sale Transaction for 143.87 shares at a per share price of 0.2546.  This generated proceeds of $36.63.

I had to immediately set the share price of the Prosper Loans security back to $1.

Works great.  Now Quicken thinks my investment has an average annual return of 8.41%

 

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