How Can Prosper Improve for Investors?

[GM]

I'd like to know why it takes 5-7 days for a sold note to settle at Prosper when it takes 1-3 days at Lending Club. They both use Folio. During the entire week long process Prosper or someone holds onto to my money for free.

Dan - We do not hold on to investors' money without giving them access.  As soon as we have the funds in hand, they are available to the investor.  Since many investors reinvest these funds in Prosper notes, it would not be in our interest to delay the investor from reinvesting.

Glenn G. Millar
Prosper Employee

[DanB]

Well that's very comforting but it doesn't answer my question. So again,  I'd like to know why it takes 5-7 days for a sold note to settle at Prosper when it takes 1-3 days at Lending Club. Both companies use Folio. And I don't care what most investors do with their money. The indisputable fact is that I have access to my money within 1-3 days at Lending Club whereas it takes up to a week to get access to my money at Prosper. WHY?

[dagilbe]

Prosper can Prosper by doing the following:

1.  Enable lenders to search for blender listings. 
2.  Including specific income information like LC; instead of $25k to 50k; or 50k to 75k. 
3.  Including employers name like LC.
4.  Going Public- an IPO would generate much needed cash for Prosper and would bring new interest to P2P. 
5.  Get serious about collection efforts.  Unlike LC, Prosper will not pursue defaulted loans through the court system.  Prosper can even bring this service in-house as another way to generate additional revenue. 
6.  Keep lender promotions and have them more frequently throughout the year. 
7.  Have borrower payments be made on regular intervals instead of sporadically.  I know when new loans are issued, 11 a.m. and 7 p.m. central time on the weekdays, but I never know when borrower payments will hit my account. 
8.  Offer longer term notes. 
9.  Provide other borrower information including assets, equity in home, and net worth.
10.  Provide additional information regarding debts.  If a borrower has a 24% DTI and does not have CC debt, I have no idea what the rest of the debt is. 

[Lovinglifestyle]

Dagilbe, +1 for above post.  Thanks for writing it all out.

#s 2,3,5, 9 if possible, and 10 would get me back on board.  LC loses points for ease of use, but at least it has some information. 

[NoGoodDeed]

Alas, the OP, GM, hasn't logged into this forum since February.
I think this leaves Prosper without any direct involvement in these forums.