| Search Results for "how do they enforce the loans being paid?" |
|
There were 63 questions found for your query:
|
(Page 3 of 4)
«« |
Prev |
1 |
2 |
3 |
4 |
Next |
»»
|
 What rate should I bid?
You should bid an interest rate that takes into consideration both the
borrower's expected default rate and the Prosper loan servicing fee.
The table below shows historical default rates by cred ...
- Is there any way to keep my group's listings and loans off of the group home page?
No. One of the reasons Prosper works well is because everyone can check
in and see how a group is doing at any time, and can view specific
examples of that group's performance. This is a big rea ...
- Who is behind Prosper?
Prosper's CEO and co-founder, Chris Larsen, was formerly the CEO,
Chairman and Founder of E-LOAN, an online consumer lender dedicated to
providing consumers with a fast, transparent, and low cos ...
- Why do credit grades matter?
A credit grade is a measure of the likelihood that a borrower will
repay his or her loan. We also provide the following table to lenders,
which shows historical default rates by credit grade for ...
- Who are the borrowers?
A Prosper borrower is any person who is a U.S. resident with a bank
account and a social security number. After passing Prosper's
anti-fraud and identity checks, borrowers can request unsecured ...
- Why does my credit grade not map to my FICO score?
Prosper uses a different scoring model than FICO. Scoring models are
algorithms that predict risk for different types of loans. Prosper uses
the Experian ScoreX PLUS™ model which is more a ...
- Do groups make loan decisions or set rates for their member’s loans?
No. Groups do not make loan decisions or set interest rates.
Prosper provides state-of-the-art, automated, auction-style
underwriting and pricing systems to match borrowers and lenders
automati ...
- How are group ratings calculated?
Group ratings are assigned based on the group's relative performance compared to Experian historical default rates. These are the same default rates that are displayed to lenders when they are pla ...
- What is a Prosper account?
If you're a lender on Prosper, you'll need to transfer money for bidding into your Prosper account. Your money will be
parked your money until you start making bids. It's also the account
...
- How do I see all of the members in my group?
Go to "Your Account > Group", and click on "View members". You will see a list of the screen names of all your group members.
To view each member's profile information, click the "Details" l ...
- What are credit grades?
Many lenders use your credit grade to measure your likelihood of
repaying the money you have borrowed based on your past history.
Everything from your first credit card during college to student ...
- What is the marketplace performance page for?
The marketplace performance page
includes performance data for Prosper marketplace loans. Using this
data, lenders can gain a better understanding of the dynamics of the
Prosper marketplace, an ...
- Why should borrowers join a group?
Joining a group can boost your reputation as a borrower and be a gateway
to lower interest rates from lenders. Although individual borrowers can
and do exist, Prosper thinks lenders will have gr ...
- What are the lender fees charged by Prosper?
0.5% annual loan servicing fee
The annual servicing fee
is accrued daily, and is based on the current outstanding loan
principal. This fee is accrued the same way that regular interest is
acc ...
- What if the group leader changes the rewards sharing level?
A group leader may change the rewards sharing level of the group at any
time. However, these changes will only affect future loans. If you
already have a loan that is active, your original terms ...
- What is a standing order?
A standing order is an automatic bidding tool used by lenders, in which
the lender authorizes Prosper to place bids on their behalf on loan
listings that meet specific criteria. For example, if ...
- What is Prosper?
Prosper is a marketplace for credit that enables people to lend money
to other people in a safe, efficient manner. Prosper is a leap back to
a time when people formed credit communities to help ...
- What is the loan delinquency schedule ?
Below is the schedule that Prosper follows in the event of a borrower
missing a payment due to insufficient funds (NSF). At any point in this
process, if your outstanding payment is paid in full ...
- How do I decide whom to lend to?
As a lender, it is your responsibility to follow some basic lending
guidelines when making decisions about whom to lend your money to:
Diversify: If you place
many small bids among many borrowe ...
- How do I create my own group?
If you are not registered with Prosper, you will be asked to fill out a quick registration form. Registration is free.
Once registered, click the "Become a Group Leader" link. You will
be aske ...
(Page 3 of 4)
«« |
Prev |
1 |
2 |
3 |
4 |
Next |
»»
|
Search the Knowledgebase
Browse by Category