Comments on: An update on p2p lending in US | Bankrate.com http://blog.communitylend.com/2008/06/08/an-update-on-p2p-lending-in-us-bankratecom/ Starting the conversation about P2P Lending in Canada Wed, 08 Feb 2012 07:28:37 +0000 hourly 1 http://wordpress.com/ By: Colin http://blog.communitylend.com/2008/06/08/an-update-on-p2p-lending-in-us-bankratecom/#comment-102 Tue, 10 Jun 2008 03:30:49 +0000 http://blog.communitylend.com/2008/06/08/an-update-on-p2p-lending-in-us-bankratecom/#comment-102 @Alan … Its interesting …. Prosper had to rein in their lending standards last year, and cut off the lower credit ratings. Time will tell how that impacts overall default rates. However its great that you have your own philospohy and approach – that is what will make p2p lending vibrant.

]]> By: Alan http://blog.communitylend.com/2008/06/08/an-update-on-p2p-lending-in-us-bankratecom/#comment-101 Tue, 10 Jun 2008 02:14:27 +0000 http://blog.communitylend.com/2008/06/08/an-update-on-p2p-lending-in-us-bankratecom/#comment-101 I hate to poor cool water on Chris Larsen’s comments, however, if one uses Prospers own performance tool and applies filters to the data to exclude the riskiest borrowers, the return over the past year is typically 5 to 6 percent. That’s not awful, but it’s a far cry from 11 percent.

My feeling is that people who need a p2p loan because they have overextended on their CC’s is that they may be a terrible p2p risk.

As a lender I will be looking for people building towards positive goals, not people trying to fill in the potholes of their life.

]]>