Author Topic: Historical question on Prosper Auctions  (Read 671 times)

profwolfe

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Historical question on Prosper Auctions
« on: April 22, 2020, 12:33:54 PM »
Prior to 2011 when Prosper was using auctions to set the interest rate on loans when did the auction stop?  I know there was a 14-day limit for a listing to receive full funding, but what if the loan listing had 100% funding on day 1?  Would it remain up for the additional 13 days so that investors might bid down the interest rate?  Was there some way for borrowers to accept the current offer (at any point in the 14-day window) and end the auction?
Thanks!!