I have updated my 2007 Prosper Loans and Prosper Lender IRR pages… Sorry for the delay.
On my IRR being negative… It is negative, it will not stay negative. Stay tuned for an explanation from a macro loan default perspective.
However, I would like to point out that $150 of those lates are mistakes. While I can’t go into details as that would open me up to liability for publicly calling out a deadbeat borrower, I think I am justified in calling them mistakes as I have corrected the perceived problem. (Whatever happened to debtors prisons anyway?) If I adjust by removing the $150 in lates my IRR is a healthy 5.35%.
I will explain why both of these numbers are low in the coming days.
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