Oh No! Another late loan… Review of late loan #2. | P2P Lending, Peer to Peer Lending, People to People Lending

In a previous post I wrote about Consequences to a Late Borrower at Prosper.com

In this post I will review the credit information of the second late loan. In order to not get sued I will not tell you specific details of the late loan or the borrower…

14.7% Interest Rate with AA credit — DTI <= 25%

As a reminder my standing orders only find loans with 0 current delinquencies, 10 or less delinquencies in the last 7 years, and 2 or less public records in the last 10.

I think this is another fine example of a quality standing order borrower and interest rate. But maybe this loan is bad? I don’t think so. This person has AA credit. A collection or delinquency will severely affect them. I think that Christmas/New Years got in the way of paying. I predict they will be caught up no latter than 1/10/07. Unfortunately for me I participated manually and with 2 standing orders (so I have put $150 of principle into this loan). The standing orders are fine, but I no longer bid manually to avoid over exposure.

What do you think?

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