Thursday, November 02, 2006

I Just Learned Something New About "Group Rewards"

Please disregard some of my prior comments about Prosper "group rewards." Prior to yesterday's post, I previously took the liberty of interpreting prosper loan payment tables literally for what is listed in my Prosper account. On each loan payment, I'd see that each borrower would make a payment but Prosper would make deductions periodically for non sufficient funds (NSF) and "group rewards." Seeing this, I was psst off that I was paying "group rewards."

I spoke w/ a Prosper rep yesterday and he assured me that "group rewards" are paid strictly by borrowers and are included as a supplemental amount in payments borrowers make to Prosper.

That stated, I am continually unable to "check-book" balance the differences between my loan portfolio "historical performance" and "net interest and fees paid on loans to date" sections of Prosper screen displays.

- The "historical performance" is found by going to "your account," "lending," "loan summary," and finally "historical performance."
- The "net interest ..." is found at the bottom of the "loan summary" section.

The Prosper rep told me that the differences between these two reside in the fact that "historical performance" forecasts the net gains you SHOULD have in your account if all payments are current."

Even with this new knowledge, i'm still puzzled and am crunching the numbers. I'm trying to mathematically account for every penny in the difference between the two. If others out there can account for the differences in their accounts please comment below or email me. I'm exceptionally curious and annoyed w/ this.

1 comment:

Anonymous said...

I currently have 110 late...26 either still open or pending review...My aim is to strive for a bell curve in credit grades.

I had thought that the discrepancy you describe in the amounts was due to the difference between interest accrued versus interest actually paid.