Author Topic: Increase in late loans  (Read 3775 times)

ThinleyWangchuk

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Increase in late loans
« on: January 31, 2013, 03:55:41 PM »
I have been experiencing a substantial increase in late loans from approx 2-3 month ago.  Is anyone else experiencing this?
Does anyone know of a website that shows late loans v. last year or last month.

Computerizer

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Re: Increase in late loans
« Reply #1 on: January 31, 2013, 04:52:56 PM »
I noticed a huge increase in late loans as well. Nearly 10% of my loans are now over 31 days past due! A couple months ago there were none.

dontvote

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Re: Increase in late loans
« Reply #2 on: January 31, 2013, 04:55:19 PM »
Avg age of portfolios may be useful. Generally, you don't really know how your loans will be performing until they season a bit. I have a portfolio that is less than 10 months old with no late loans. That won't last (though I did dodge some of shadiest dudes).

Victor
dontvote

Interest Radar IRR: 46.11%
NSR ROI: 41.22%
Average Loan Age: Your Moms

Computerizer

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Re: Increase in late loans
« Reply #3 on: January 31, 2013, 05:02:43 PM »
My loans that went late are of various ages. Here's a sample of purchase dates:
  • Oct 23, 2012
  • Oct 9, 2012
  • Jul 17, 2012
  • Jan 22, 2012
  • May 18, 2011

berniemadeoff

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Re: Increase in late loans
« Reply #4 on: January 31, 2013, 05:16:57 PM »
My performance in the month of July 2012 is really poor.  Not sure if user error or lower loan quality overall.

I have noticed that E grade loans from early last year are underperforming generally, according to Prosper-Stats.  I hope this is some aberration in the data vs. some shift in the way Prosper reviews/grades these loans.

Xenon481

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Re: Increase in late loans
« Reply #5 on: January 31, 2013, 05:40:38 PM »
Per Prosper's most recent SEC quarterly filing (2012 Q3), loans originated in the three most recent quarters (as of the end of 2012 Q3) seem to be going bad at significantly higher rates than loans originated in earlier quarters at the same relative ages.



http://www.sec.gov/Archives/edgar/data/1416265/000114036112046004/form10q.htm
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Read about historical Prosper actions/problems at Prospers.org

ThinleyWangchuk

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Re: Increase in late loans
« Reply #6 on: January 31, 2013, 05:54:01 PM »
Your a legend xeon481  ;)

Per Prosper's most recent SEC quarterly filing (2012 Q3), loans originated in the three most recent quarters (as of the end of 2012 Q3) seem to be going bad at significantly higher rates than loans originated in earlier quarters at the same relative ages.



http://www.sec.gov/Archives/edgar/data/1416265/000114036112046004/form10q.htm