Wednesday, September 5, 2007

Borrower Loan Status Reporting

One of the things that came out of Prosper's latest upgrade (see this linkfest for details) was increased information about a borrower's previous loans. I stumbled on a listing for a multi-loaner and found the interface very useful. I got a screenshot of this random listing (for an unreferenced borrower with all the credit info erased to protect the innocent).

This was a good example. Several useful bits of information are shown. The borrower took out a loan in Jan, 07 (denoted by the small dollar sign icon under the credit history section) and has improved their credit grade by one step (E->D) as (noted by the much larger icon and green area under the Credit History). The payment history for the previous loan is shown. What's missing is an indicator that the first loan was paid off. This information is available elsewhere, but it would be time saving for lenders to see it directly instead of hunting for it.

Overall, a welcome upgrade.

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