In an email sent out to investors earlier today Prosper announced they will be closing down their secondary market on...
Today is a big day for Prosper. They have now issued more than $1 billion in total loans – crossing...
Prosper is lowering rates for higher credit quality borrowers and increasing rates in the lower credit quality segments; borrowers with loan ratings AA through C will see a rate decrease of as much as 79 basis points while borrower ratings D through HR could see an increase of as much as 74 basis points; in total, across all ratings, rates will be lower by approximately 39 basis points; Prosper says the rate changes are a result of the credit market environment, interest rate expectations and competition for consumer loans. Source
Prosper filed its annual earnings report with the Securities and Exchange Commission showing an annual loss in 2016 of $118.7 million from revenue of $132.9 million; the loss compares to an annual loss of $26 million for 2015; 2016 was a challenging year for the industry overall; Prosper attributes the losses to lower loan volumes and higher restructuring and legal costs; in February, Prosper reported a $5 billion deal with a consortium of investors committing to invest in Prosper's loans over the next two years, which has helped to give the firm a much more positive outlook for 2017. Source
The Securities and Exchange Commission fined online lender Prosper late last week for inflating returns to more than 30,000 investors;...
Today Prosper sent an email to their retail investors notifying users of a change in calculating Annualized Net Return and...
Prosper has had yet another big quarter. In Q2 they issued $912.4 million in new loans and today they announced...
The year 2014 will certainly go down as the best year in Prosper‘s history. They built on their success of 2013...
It was almost seven months ago when the news first came out about a massive deal that was in the works...
Prosper received a late Christmas present from the SEC last month. After 10 months and eight revisions their registration for...