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UnderAppreciated Listings RSS Feed Update

I started my RSS feeds on March 18th…  I thought I would check in on my favorite (Underappreciated Listings)…

 There have been 6,364 listings profiled, requesting to borrower $61,781,819 or $9,952.01 per loan on average.

Here is the listing status break down…

Status Total Amount Number Per Loan
Cancelled $3,427,672 259 $13,234
Pending Verification $92,900 8 $11,613
Expired $30,822,079 3268 $9,431
Completed $12,258,725 1365 $8,981
Active $1,654,511 195 $8,485
Withdrawn $13,525,932 1269 $10,659

And here is the Current Loan Status for Completed Listings…

Status Total Amount Number Per Loan Avg Loan Age
Current $11,178,784 1252 $8,929 123
Paid $373,479 33 $11,318 165
Payoff in progress $15,500 2 $7,500 166
Late $173,474 21 $8,261 143
1 month late $234,487 27 $8,685 159
2 months late $60,200 7 $8,600 188
3 months late $132,801 13 $10,215 191
4+ months late $90,000 10 $9,000 230

Late in some form: $690,962

Current/Paid: $11,567,763

Only 5.6% of the population of these loans are late…  This is much better than the general population of loans of Prosper which is just over 10%.  And all of these listings are at higher than average rates…

Another interesting note, over 30MM dollars in listings that were fund-able based on loan size, DTI, and interest rate expired.  Expired means the auction ended but the loans were not fully funded.  Given that these loans perform better than the general population, I find this to be an extraordinarily high number.

(Edit:) Mike points out that it is more interesting if the loans skew to the lower credit grades…  So here is the credit grade breakdown of the loans for Underappreciated rss listings.

Credit Grade Total Amount Number Per Loan Avg Loan Age
AA $1,200,049 67 $17,911 145
A $1,975,971 126 $15,682 121
B $2,671,564 218 $12,255 117
C $3,162,154 374 $8,455 121
D $2,395,099 378 $6,336 125
E $859,688 204 $4,214 146

That looks skewed to the lower credit grades to me.

What do you think?


December 5, 2007 | Filed Under Uncategorized 

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comments

4 Responses to “UnderAppreciated Listings RSS Feed Update”

  1. Mike on December 5th, 2007

    There’s not enough information to make a judgment. If the funded (and not canceled) loans weight heavily toward the “prime” space (AA, A), then I find this uneventful. If it weights heavily toward the sub-prime end (D, E), then it’s noteworthy.

  2. Kevin on December 5th, 2007

    Mike don’t get me wrong. Buyer beware. I am not suggesting that this RSS feed is the only vetting needed in order to bid. Just reporting the results.

    Let me see how the completed listings breakdown by credit grade.

  3. pjz on December 5th, 2007

    I do not think that “screwed” (skewed?) was the word you were looking for but that may be what us lenders are: “That looks screwed to the lower credit grades to me.” LOL

  4. Kevin on December 5th, 2007

    Nice catch… Fixed! that was pretty funny.

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