As I mentioned in a previous blog post, one way to gauge the effectiveness of collections is to look at how delinquent age. If a loan is one month late, in a month it will either be brought current or it will be two months late. From this, we can get near real-time updates on whether Prosper's attempts to improve collections are working.
And on that note, we now have Nov 1 statistics to add to the table.
|Month Initially Late||Initially Late|
(1 month late)
|1 Month Later|
(2 months late)
|2 Months Later|
(3 months late)
I'm transitioning my Collections-O-Meter (TM) from "skeptical" to "cautiously hopeful".