From Prosper Andrew in the Forumns…

Hi everyone,

This release is going to be a little different than previous ones…. we have a few features/changes tonight, and then a few more dribbling in over the next couple of weeks. Changes include…

Instant Transfers for Lenders

After several months of beta testing transfers with little to no delay (I think it was called “rapid transfer” at the time), and after your copious amounts of feedback, we’ve built what is now known as “Instant transfer” into a proper feature, which indicates when you’re eligible for an instant transfer, and makes the money available instantly (no more 15-minute wait).

Here’s how it works – when a new transfer to Prosper meets the requirements below, funds are made available in a lender’s Prosper account instantly, with no delay:

• Transfer amount must be between $500 and $10,000
• Sum of pending transfers must be <20% of lender's active loan value

For example, if you had an active loan value of $10,000, you could transfer between $500 and $2,000 to your Prosper account instantly. If you attempted to transfer $3,000 to Prosper, it would not qualify for instant transfer because the amount is more than 20% of your active loan value. Your $3,000 transfer would still continue, but would be subject to the standard 4-day waiting period.

Learn more about Instant Transfer>

Group changes

As we announced a few weeks ago, we are making some changes to the group model to more closely resemble our original vision for the concept. As of this release:

• Group leader payment rewards: These will no longer be available to group leaders. Listings created on Sep 13, 2007 and after will not be eligible for group leader rewards.
• Search results changes: Group names and ratings have been removed from search results. When doing research with new lenders, we found that introducing groups in the search results introduced confusion and blocked lenders from proceeding to find listings easily. You can still search on specific groups using the advanced search feature.
• Group categories: We’ve discontinued the use of group categories. We will eventually introduce a more intuitive set of loan categories (debt consolidation, business financing, student loan, etc.) for listings shortly.
• Personally identifiable information: In the interest of group member privacy, we’ve started removing personally identifiable information from group membership requests.

As I mentioned, more to come in the next few weeks. Hang tight.

Best regards,
Andrew 

Related Posts

• Referral Program Strategies (part 2) I wasn't planning on this being a 2 part post, but I got some great comments and I wanted to republish and respond... First a great suggestion from Used vans girl: Have you considered buying lists. There are a numerous companies out there who produce lists for every type of......
• Interview of FANAFI Foundation The following is an interview of Jeff and Heather aka FANAFI Foundation.  This interview was conducted Thursday February 14th 2008 in the wake of the recent drama surrounding their blog (starting point for initial back story here).  These are my questions and their unedited words. (I did add a few......
• November Prosper Marketplace Survey Released Prosper released the November marketplace survey and coresponding comentary from Chris Larsen... I particularly like the insight in the last paragraph... Of great interest is the anecdotal evidence of prime and near prime borrowers turning to Prosper for loans that would have historically been steered toward mortgage, auto, and home......
• Prosper Site Update -- Nationwide 36% Except Texas and South Dakota With a banking partner in WebBank, Prosper opens up to a nationwide audience of borrowers.  Their timing couldn't have been better.  Welcome borrowers! (Except Texas and South Dakota) Minimum instant transfer of $50 on 50% of your active loan value is now possible... In my opinion, this change greatly reduces (maybe......
• 54 Segments of Prosper Data = Thin Data One of Prosper's most recent changes was to add bidding guidance on the manual bid page.  See the picture below. I think this is a great feature in theory.  It makes the estimated return obvious using Prosper's own roll rates.  I am sure this will be an incredibly valuable feature......

Related Websites

• How To Make Money Online For Free - Start With A Blog There are so many people looking for ways to make money online for free. Not long ago, I would have told you it is easy to learn how to make money online, but there is probably some nominal investment. There are 2 important steps you must master if you want......
• Is Your Twitter Account More Important than Your Blog? That’s a loaded question and the answer depends entirely on your point of view when it comes to Live Feed and RSS. You can make a case for either side and believe me I have. Here’s what I came up with… 5 Arguments for Live Feed and Twitter: There......
• Free Backlink From Web Directories Almost all web site owner want their web site has many visitor. Some people want 1000 visitor / day, they other want 10000 visitor / day. Why people need visitor ? More visitor more money. Revenue program like Adsense, Adbrite, and other revenue program need a lot of visitor if......
• Prosper Changes: What They Mean to Me and You I got an e-mail yesterday from Prosper's CEO Chris Larsen. I wasn't alone, I'm sure that at least every lender got one. As Prosper gears up for it's first birthday, they've found the need to make a few changes. Here I will outline them and what they mean. New Customer......
• Songkran! was stressing all last night about what to bring .... things to consider: - will be there for 4 days - will get wet - will need diff tops to be seen in for various events of the day (shopping, hanging with frens & parties) - but don't want to......

Online Stores

• Replica/Kit Makes Hybrid Cars & Trucks
• 30 Minute Workouts Total Gym Home Gyms Strength Training Gym, Workout & Yoga Exercise & Fitness
• Other Makes Hybrid Cars & Trucks
• Replica/Kit Makes Hybrid Vehicles
• Instant Arches & Gazebos Garden Structures & Fencing Yard, Garden & Outdoor Living

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


Categories:

Prosper.com

Tags:

azerbaijan, mozambique