New And Shiny Prosper Interest Rates
Prosper dropped a large bomb this morning with their latest site upgrade. The headline topic: 36% interest rates everywhere [1]. Besides being miffed that they couldn't have announced it one day earlier and saved me some time, I find this to be a phenomenal development. Prosper has been limited in their growth due to the state usury limits, and this should increase the borrower volume, especially in the portfolio-worthy credit ranges.
Prosper also rolled out a number of other features at the same time
- Lower instant transfer limits. As RateLadder has observed, this should help those folks who worry about getting paid interest on their idle cash.
- The second loan criteria has been tweaked. It now depends on credit grade as well as loan payment history.
- 1% service fee for AA loans is back. Apparently they think they have enough volume now.
- All loans will list for 7 days. If borrowers are in a hurry, they'll have to turn on auto-funding.
- The Prosper website layout was tweaked. I'm not a fan. If you want to compare, the Prosper Blog still has the old layout (that may change as soon after Andrew reads this).
- There are supposedly other less published changes for us to dig out.
[1] - Void in Texas and South Dakota. Surprisingly, this isn't void in Utah.
10 comments:
[1] - Void in Texas and South Dakota. Surprisingly, this isn't void in Utah."
Why Utah? That's where Prosper's new bank is located.
A joke referring to the fact that lotteries and prize give-aways are not allowed in Utah. Back in the day, before the disclaimers would say "Void where prohibited", they would say "Void in Utah".
Hi Mike, thanks for the troublesome work of updating the state interest rate caps again and again. I am actually writing my masters thesis and want to control for these cap changes in my model. I found your information very helpful but am wondering why there are only rate caps for 18 states on your posts before December 2007. According to the data export, Prosper was lending to 50 states in this time period. Is it that these states' rate caps just didn't change and I can use the caps as of December 2007 for the previous months or where these states not rate capped at all and I can use the rate cap history of prosper on http://www.prosper.com/help/topics/whats_new.aspx ?
Sincere thanks for a reply! Best, Thilo
36% percent on debts? I think its too much.I am not a fan of Prosper because of the reviews I read about them and the challenges that they seem to neglect. Anyway, I think I have to reconsider and visit the site myself.
I hope this new rates stay so that I won't have difficulty in adjusting to new rates again.
Prosper has raised the interest rate cap in the District of Columbia from 6% to 24%. Additionally, Arkansas, Delaware, Kentucky, and Tennessee have had interest rate caps lowered commensurate with the Fed’s lowering of interest rate indexes.
No Prescription medication Pharmacy. Get Cheap Drugs online. Buy Pills Central.
[url=http://buypillscentral.com/buy-generic-brand-levitra-online.html]Discount Viagra, Cialis, Levitra, Tamiflu Drugstore No prescription[/url]. Indian generic drugs. Cheapest pills pharmacy
At our seek you can descry various medication and of course such predominant Best Discount Cialis Pharmacy Online one – Shoddy Generic Cialis pharmacy.
Hi !.
You re, I guess , probably curious to know how one can make real money .
There is no need to invest much at first. You may start to get income with as small sum of money as 20-100 dollars.
AimTrust is what you need
AimTrust represents an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
Its head office is in Panama with structures everywhere: In USA, Canada, Cyprus.
Do you want to become an affluent person?
That`s your chance That`s what you wish in the long run!
I feel good, I started to get income with the help of this company,
and I invite you to do the same. If it gets down to choose a correct partner who uses your money in a right way - that`s the AimTrust!.
I earn US$2,000 per day, and my first deposit was 1 grand only!
It`s easy to join , just click this link http://topumawufe.ibnsites.com/xydubob.html
and lucky you`re! Let`s take this option together to get rid of nastiness of the life
Hello !.
You re, I guess , perhaps curious to know how one can reach 2000 per day of income .
There is no initial capital needed You may commense to receive yields with as small sum of money as 20-100 dollars.
AimTrust is what you haven`t ever dreamt of such a chance to become rich
The firm incorporates an offshore structure with advanced asset management technologies in production and delivery of pipes for oil and gas.
It is based in Panama with offices around the world.
Do you want to become a happy investor?
That`s your choice That`s what you wish in the long run!
I`m happy and lucky, I began to get real money with the help of this company,
and I invite you to do the same. If it gets down to select a correct partner utilizes your money in a right way - that`s it!.
I take now up to 2G every day, and my first deposit was 1 grand only!
It`s easy to start , just click this link http://utinicomun.freewebportal.com/cyguzesy.html
and go! Let`s take this option together to become rich
Post a Comment