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« on: January 30, 2015, 02:25:46 PM »
So,
I had another post on here about FICO scores not updating every month. I emailed a complaint in the last time and they brought my notes up-to-date. Unfortunately, that fix was temporary and now my notes have two month old scores again. This time I decided to call and talk to someone. I want to put more money into Prosper but if I can't get an accurate picture of the health of my notes, then I will delay that deposit.
I hit first level support who, upon hearing my concern, forwarded me to second level support. I will withhold names but I spoke with someone who is a long time employee and very nice on the phone. This person knew exactly what I was complaining about, for this person is also a Folio secondary market trader. He made it clear that nowhere does Prosper promise regular updates to FICO nor are they obligated to do so. I told them that I understood but my business is predicated on this working. I can't actively trade if I don't have up-to-date information.
This person stated that there was a big system update within the past couple of months but nothing with FICO had been touched but this had been on ongoing issue since last summer. FICO updates have been manual since then. There has been a service ticket logged about it for a while and it hasn't been resolved.
My other concern was that I had to dig deep into Folio and essentially put a note up for sale to see the most recent FICO score. I asked why this information is not more readily available. The person agreed it should not be so hard to see and it should be on Prosper in the note details. Nobody should have to go into Folio to see that information. This person said that idea was submitted in a ticket two years ago and nothing has been done.
This person did admit that their investor side support/information is getting a renewed focus for 2015 and they recently had a meeting about it. They would like to grow their retail investors because they feel it is 'stickier' money. Essentially, they don't trust the institutions to stick around if/when the economy gets rough. Retail investors tend to keep their money around better than institutions. Right now institutions are banging down the door but they could just as easily flee in large numbers.
I hope to see some changes on that side of Prosper's business.