Prosper Debt Sale Offer Roughly 0.93%-4.83%

On Friday, Doug Fuller gave an update on the debt sale.

Synopsis: Prosper put the bid file on an auction site, 8 bids received, all the bids were very disappointing, Prosper has not accepted a bid yet, and is exploring options for getting a better deal.

When asked how disappointing Doug Fuller further responded via comment…

In round numbers, the bids that we received were approximately 1/3 the prices bid in December. The price difference between the August and December represented about a 20% reduction.

Ok so then the next question is how bad is that?

Looking at the December results we see that the range of bids was from 2.8%-14.5%. Extrapolating, that would mean the current bids where roughly 0.93%-4.83%… I would say that is pretty disappointing… (I received a little over 25% from my 1st loan in a debt sale.)

I am willing to let Doug Fuller find other options… 3 cents on the dollar sucks.

No Comments | May 5, 2008 | Filed Under Collections, News, Prosper.com | Leave a Comment

Prosper Doing Television Ads

Catherine Muriel announced on the Prosper Blog that Prosper is going to be running some TV Spots.

I think the ads are well done… I would like to be able to embedd them in my blog, but other than that I think they are kinda cool…

You can tell that these ads were done by Prosper as opposed to the Lending Club video ads which were done by internet citizens…

I wonder what kind of responce they will get on TV?

No Comments | May 5, 2008 | Filed Under News, Prosper.com | Leave a Comment

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 eliminates) the need for interest on fallow money. Now you can leave your money in your favorite interest bearing account and transfer in money just in time to bid on listings.

There were several other changes and the promise of many under the hood improvements at The Prosper Blog: Second loan criteria updated, AA borrower lender servicing fee adjustment, listing duration set to 7 days, online tax forms, and other improvements.

And Doug Fuller gave a recent collections update. AmSher is showing promise.

Thanks Prosper!

4 Comments | April 15, 2008 | Filed Under News, Prosper.com | 4 Comments

The Webby Nominees Are Announced

Multiple categories for Lending Club (opps), Zopa, Microplace, and Kiva. No Prosper? How do you not include the market leader? Also missing from the p2p category although this one being left out is understandable is globefunder.

Anyone, know how these lists are compiled?

Anyway, for what it is worth here is a link to the nominees: http://www.webbyawards.com/webbys/current.php?season=12

No Comments | April 10, 2008 | Filed Under News | Leave a Comment