Author Topic: Kudos to Prosper  (Read 4520 times)

nonattender

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Kudos to Prosper
« on: May 14, 2016, 12:38:12 AM »
Credit where credit is due:

Getting that bankruptcy remote vehicle in place to protect your retail investors has turned out to be a hugely pro-consumer move.

You didn't have to do it, and you basically totally abandoned us retail investors in favor of chasing institutional dough, after you did it, anyway, but, hey, you did actually do it.  And that was the absolute right call.

Well done.
A little nonsense now and then is relished by the wisest men.

Rob L

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Re: Kudos to Prosper
« Reply #1 on: May 14, 2016, 09:19:52 AM »
Yeah. It was because of their BRV and my desire for platform diversification that I opened an account with Prosper in July 2014. I'm continuing to reinvest and made no changes in reaction to the LC troubles. I use their Quick Invest, A & B notes only, with a few simple filters and have had no trouble keeping all my cash invested.

rockinray

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Kudos to Prosper
« Reply #2 on: May 14, 2016, 01:04:32 PM »
Yeah. It was because of their BRV and my desire for platform diversification that I opened an account with Prosper in July 2014. I'm continuing to reinvest and made no changes in reaction to the LC troubles. I use their Quick Invest, A & B notes only, with a few simple filters and have had no trouble keeping all my cash invested.

Me too. I'm only doing A-36 months right now but I continue to invest / reinvest with Prosper.

I use a tight filter and use their Auto-invest. I just let the account run itself and do not worry too much with it.
« Last Edit: May 14, 2016, 06:08:37 PM by rockinray »

asulwer

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Re: Kudos to Prosper
« Reply #3 on: July 22, 2016, 02:35:51 PM »
how does this impact me as an investor?

Gatsby

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Re: Kudos to Prosper
« Reply #4 on: July 25, 2016, 02:27:18 AM »
Can someone point me to the Prosper page that explains BRV?


Fred93

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Re: Kudos to Prosper
« Reply #5 on: July 25, 2016, 03:34:24 AM »
Can someone point me to the Prosper page that explains BRV?

I don't think there is one.  I've not seen Prosper use the words BRV.  I don't claim to know everything P has ever said.  I just don't remember seeing it.

BRV is just a name people use to describe a corporate structure where some assets and liabilities are put inside a subsidiary corporation in the hope that this walls them off from a bankruptcy of another corporation in the corporate structure.

https://www.crowell.com/NewsEvents/AlertsNewsletters/all/Caution-Bankruptcy-Remote-Entities-Are-Not-Necessarily-Bankruptcy-Proof

As I understand it, in the case of Prosper, the notes are issued by one entity "Prosper Funding LLC" while the business of Prosper happens in "Prosper Marketplace Inc".  (And by the way I'm not a lawyer.)  You can read about this structure in Prosper's prospectus, which can be found on Prosper's web site, or at the SEC's web site ...
https://www.sec.gov/Archives/edgar/data/1416265/000155278115000875/e00345_prosper-s1a.htm




RT45

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Re: Kudos to Prosper
« Reply #6 on: July 25, 2016, 11:53:25 AM »
@Anil can probably speak to this. I believe he has a decent understanding of Prosper's BRV structure.

Prescott

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Re: Kudos to Prosper
« Reply #7 on: July 25, 2016, 01:40:49 PM »
Fred has it right -

Prosper Funding LLC has the notes and contracts with Prosper Marketplace Inc for technology (website), servicing, collections, customer service, etc.