Comments on: LendingClub vs. Prosper

By: HSBC credit card

HSBC credit card — Mon, 14 Sep 2009 06:58:38 +0000

On my opinion, I think it is better to borrow money from a well known and stable loan company so that you won't be bothered
if there will be something wrong happen.

By: Willy

Willy — Thu, 29 Jan 2009 05:39:31 +0000

This is really old. Prosper defaults are horrendous. No prospective borrowers are denied and the bidding process tends to push interest rates too low. Prosper is not granting loans now (early 2009) while awaiting SEC review. They really need to revise the model before starting up again.

By: Prosper Vs LendingCLub | Realizing {Me} || Mediation and Self-Improvement for the Beginners Mind...

Thu, 30 Oct 2008 20:53:32 +0000

[...] found some interesting information at Wealthboy. He says: As I was doing my research on both sites, I came to realize that although [...]

By: Prosper vs. LendingClub « Realizing {Me}

Prosper vs. LendingClub « Realizing {Me} — Wed, 24 Sep 2008 15:38:11 +0000

[...] found some interesting information at Wealthboy. He says: As I was doing my research on both sites, I came to realize that although LendingClub [...]

By: Prosper Vs LendingCLub - Realizing {Me}

Prosper Vs LendingCLub - Realizing {Me} — Tue, 23 Sep 2008 18:29:18 +0000

[...] found some interesting information at Wealthboy. He says: As I was doing my research on both sites, I came to realize that although LendingClub [...]

By: Living Off Dividends

Living Off Dividends — Fri, 01 Feb 2008 07:10:51 +0000

I can’t think of a good reason to use one over the other. I’m currently using Prosper and my default rate is lower than the average. I think it depends on the types of people to loan to.

By: Living Off Dividends

Living Off Dividends — Fri, 01 Feb 2008 06:10:51 +0000

I can't think of a good reason to use one over the other. I'm currently using Prosper and my default rate is lower than the average. I think it depends on the types of people to loan to.

By: Personal Loan Portfolio

Personal Loan Portfolio — Fri, 11 Jan 2008 03:03:28 +0000

I had no issues verifying my identity on Lending Club. I am surprised to hear that the process could go bad because it was rather simple.

“I would take LendingClub’s stats with a grain of salt.”

I think that both Prosper and Lending Club websites are understating the risk.

“Prosper’s default rate hovers at about 2.7 percent, Larsen said, but that figure is expected to rise as more loans mature.” Source: http://www.msnbc.msn.com/id/21993720/ A huge understatement.

By: Personal Loan Portfolio

Personal Loan Portfolio — Fri, 11 Jan 2008 02:03:28 +0000

I had no issues verifying my identity on Lending Club. I am surprised to hear that the process could go bad because it was rather simple.

"I would take LendingClub’s stats with a grain of salt."

I think that both Prosper and Lending Club websites are understating the risk.

"Prosper’s default rate hovers at about 2.7 percent, Larsen said, but that figure is expected to rise as more loans mature." Source: http://www.msnbc.msn.com/id/21993720/ A huge understatement.

By: WealthBoy

WealthBoy — Thu, 10 Jan 2008 12:42:26 +0000

Jason, I agree. It doesn’t matter where the borrowed funds are coming from, in the end an individual is going to either pay or default. Aggregately, the default rates will be higher for loans with higher-risk borrowers.