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Prosper Increases Borrower Pricing Lower Credit Grades | P2P Lending, Peer to Peer Lending, People to People Lending | P2P Lending News, Information, Borrowing and Lending Strategy

Prosper Increases Borrower Pricing Lower Credit Grades

Prosper implements pricing change for borrowers with credit grades A-HR.

The origination fee schedule for borrowers of first and second loans will be as follows:

AA 1.00% (no change)
A 2.00%
B 2.00%
C 3.00%
D 3.00%
E 3.00%
HR 3.00%

These changes will go into effect for listings created on or after January 4th, 2008.

The rationale behind this increase is to enable us to better cover our administrative costs and bring our fees more in line with the market.

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2 comments ↓
#1 Little Troll on 01.04.08 at 10:11 am

Hmm….more borrowers than lenders: ??? Profit?

http://www.lendingstats.com/membershipGrowth

#2 ChrisFS on 01.04.08 at 12:14 pm

Always for more borrowers than lenders, same with every other site.
Too bad for the lower grades through, loans got more expensive. Imagine 35% interest and 3% on top of that in fees

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