My Prosper Listing has 1 day left in the auction. I reached 100% funding late afternoon last Wednesday. Today is the final day to bid on my loan request. Short of an Act of God this loan is as safe as they come.
My listing fell into the the conservative portfolio plan standing order #2 whose criteria is AA, not automatic funding, 0 current delinquencies, 0-1 inquiries in last 6 months, loan amount >= $10,000, debt to income ratio <= 40%, and 0 public records in the last 10 years. The plan will bid a rate of 10.5% on loans matching the criteria for lenders with cash and other portfolio balancing considerations.
My loan was 100% funded an my rate was bid down to 10.5% in ~ 4 full days. So the portfolio plan had 4 full days in which to add unique bidders onto my loan. Many bids and for what amount were placed by the portfolio plans?
It is impossible to say precisely, but I can tell you how many people bid at 10.5% and I think it is fair to say 90% (maybe more) where from the conservative portfolio plan. In total, I had 193 bids for a total amount of $12,872.87 (~$67 per bid). If 90% of those were from Portfolio Plan bids then 174 bids for $11,658 dollars were from Portfolio Plans. That is a lot of lending and pricing power. (For a full chart of all the bids on my listing grouped by rate bid as of last night please see below.)
$25 Bonus For New Lenders
How to Use Prosper Listing Widget for MySpace, Blog, Website, or Other
I used this code on ProProsper to obtain the data for my listing
select b.MinimumRate as 'Rate Bid', count(b.[key]) as 'Number of Bids', sum(b.amount) as 'Amount Bid'
from listing l inner join bid b on b.listingkey=l.[key]
where listingnumber=272047
group by b.MinimumRate
order by count(b.[key]) desc
| Rate Bid | Number of Bids | Amount Bid |
|---|---|---|
| null | 196 | 24096.4700 |
| 0.105 | 193 | 12872.8700 |
| 0.1223 | 19 | 1356.5900 |
| 0.11 | 15 | 1062.9300 |
| 0.12 | 13 | 1250.0000 |
| 0.115 | 4 | 201.3700 |
| 0.1045 | 4 | 525.0000 |
| 0.104 | 3 | 151.6200 |
| 0.1102 | 3 | 1200.0000 |
| 0.1202 | 3 | 450.0000 |
| 0.1125 | 3 | 226.6200 |
| 0.1035 | 2 | 249.2900 |
| 0.119 | 2 | 510.0000 |
| 0.1105 | 2 | 101.6200 |
| 0.111 | 2 | 100.0000 |
| 0.1025 | 2 | 250.0000 |
| 0.103 | 1 | 50.0000 |
| 0.1033 | 1 | 100.0000 |
| 0.1042 | 1 | 50.0000 |
| 0.1049 | 1 | 50.0000 |
| 0.1111 | 1 | 50.0000 |
| 0.1075 | 1 | 50.0000 |
| 0.1077 | 1 | 80.0000 |
| 0.109 | 1 | 50.0000 |
| 0.1193 | 1 | 65.0200 |
| 0.1195 | 1 | 50.0000 |
| 0.1199 | 1 | 50.0000 |
| 0.1169 | 1 | 50.0000 |
| 0.1175 | 1 | 100.0000 |
| 0.1185 | 1 | 50.0000 |
| 0.1149 | 1 | 500.0000 |
| 0.1207 | 1 | 50.0000 |
| 0.121 | 1 | 50.0000 |
| 0.1213 | 1 | 200.0000 |
| 0.122 | 1 | 50.0000 |
- Portfolio Plans — The Good, The Bad, and The Ugly I think Prosper is doing some interesting things lately and Portfolio Plans are no exception… A portfolio plan is a series of slices of data...
- Big Prosper Changes — 2nd Loans, Authenticated API, 0% on AA, 36% Max Rate, and Portfolio Plans Big changes for Prosper today in new release… Borrowers can now have second loans Authenticated API for access to extended credit and a lender’s loans for lenders...
- RateLadder.com Launches Rate Loan Analyzer I have decided to take RateLadder.com to the next level. Instead of having just static content, I will be launching a series of live crystal...
- Track Prosper Referrals with ProProsper Followup Just a quick followup to the Prosper referral tracking with ProProsper. Here is the email sent to me this morning detailing my active listings… Referral...
- Update: RateLadder Prosper Listing Request Reaches 100% Funded Sometime late afternoon on Wednesday (1/30/08) my loan reached 100% funding. This is a critical first step in getting a Prosper loan. Without reaching 100%...
If you liked this article, vote for it on del.icio.us and stumbleupon.
Categories:
2 comments ↓
Well, I just got outbid at 9.97%.
I put in a new lower bid. Five hours to go – let’s see how much your rate gets bid down.
Good luck!
[...] There are some stats that are factual and out of your control (current inquires, current delinquencies, etc.). These are simple related to your circumstance and are difficult to adjust for your benefit by definition… There are others that you can control namely loan amount and the related DTI. If at all possible with your statistics that are our of your control, adjust your loan amount and there by your DTI to conform to a portfolio plan slice. These slices are updating frequently and they can be a moving target (ask deep market… his listing went live at 3 in the afternoon and the slices were adjust that evening.) Why? because the default portfolio plans have a lot of purchasing power… (My own listing might have gotten as much as $12K+ in portfolio plan bids in 4 days.) [...]
Leave a Comment