Online Marketplace Lender Prosper Reports that 67% of Loan Originations in Sept were Rated AA-B

Prosper, a marketplace lending company that connects borrowers and investors with over $17B in loans issued via its platform, has shared its Performance Update Report for the month of September 2021.

As noted in the report prepared by Haiyan Huang from Prosper, dated October 15, the company is sharing performance data from the Prosper Portfolio for September 2021.

Key highlights from the Prosper report are as follows:

  • In September 2021, approximately 67% of loan originations were “rated AA-B.”
  • Average loan size “increased by approximately 3% month-over- month.”
  • The median monthly payment on Prosper loan to Income (PTI) ratio for September “remained relatively flat month-over-month at 5.16%.”
  • The weighted average borrower rate for September originations “remained stable month-over-month.”

Portfolio insights and key charts may be accessed here.

The Prosper Performance Updates are meant to assist the platform’s investor community with gaining a better understanding of important performance trends and to offer meaningful insights into the trends they are seeing and the information required to strategically invest via the Prosper platform.

As covered last month:

“In August, approximately 67% of loan originations were rated AA-B. Average loan size remains relatively stable month-over-month. The median monthly payment on Prosper loan to Income (PTI) ratio for August remained relatively flat month-over-month at 5.23%.”

The team at Prosper has also mentioned:

“The weighted average borrower rate for August originations remained stable month-over-month.”

As noted by the firm’s management:

“Prosper’s mission is to advance financial wellbeing. The company’s online lending platform connects people who want to borrow money with individuals and institutions that want to invest in consumer credit. Borrowers get access to affordable fixed-rate, fixed-term personal loans. Investors have the opportunity to earn solid returns via a data-driven underwriting model.”

To date, more than $17 billion in personal loans have been “originated through the Prosper platform for debt consolidation and large purchases such as home improvement projects, medical expenses and special occasions.”

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