Ron Suber, an iconic voice in the emerging Fintech sector and the most prominent leader in the marketplace lending industry, has announced his departure from Prosper Marketplace. First reported in a note published on LendAcademy, after five years of leadership at Prosper, Suber has determined… Read More
Read more in: Featured Headlines, Fintech, Investment Platforms and Marketplaces | Tagged prosper, ron suber, sarah cain
Prosper Marketplace, one of the largest online lending platforms in the US, has apparently been overstating annual investment returns on loans due to an error in their systems. Bloomberg reported yesterday that investors were being notified of the error and that the issue has been… Read More
Read more in: Investment Platforms and Marketplaces, Fintech, General News | Tagged marketplace, online lending, orchard, p2p, peer to peer, prosper, sarah cain
According to multiple reports, Prosper is shutting down secondary trading for it’s loans eliminating a liquidity path for retail investors. The justification was stated as lack of demand. Bloomberg reported that Sarah Cain, a Prosper spokesperson, explained the decision as one driven by utilization; “While… Read More
Read more in: Uncategorized | Tagged marketplace, p2p, peer to peer, prosper, sarah cain, secondary
Moody’s confirmed ratings on securities backed by pools of unsecured consumer installment loans originated by Prosper. The bonds which were sold by Citigroup got hit by a downgrade warning earlier this year. Moody’s has now removed the warning in a rating action this past Thursday. According to… Read More
Read more in: Investment Platforms and Marketplaces | Tagged marketplace, moody's, p2p, peer to peer, prosper, sarah cain
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