Quick stats on the front main page now includes how much has been issued per month from the first of the month. This will allow you to gauge the month’s performance as it commences. It’s always interesting to see growth for the month. You can always look at long term trends on the charts.
Another important aspect I wanted to stress with comparing Lending Club and Prosper is the operational history. Prosper.com has zero matured 36 month loans on their platform. In fact, it’s going to be at least another 9 months until the first 36-month loans start to mature. If feel this is incredibly important to understand when looking at numbers. It’s always important to keep this in mind. I am going to start placing this reminder in strategic locations on the site to assist when interpreting numbers.
I’ve added seasoned (older than 10 month) default rates for both platforms. Considering LC has over 4 years of operational data and their total default rate is less than 9%, that’s pretty solid. If you include Prosper 1.0 over 20% of loans defaulted! I imagine it only going to improve with time and underwriting improves. Prosper 2.0 is still young, so their default rate is going to be lower. All things consider, you can expect this number to surpass LC in coming years due to the different approach to lending. This will be offset though by the higher returns.
Finally, I’ve re-organized the charts page, including an index to every chart. Now you can browse at a high level every chart on the system and go directly to it.
Hope these changes make the site more usable. As always, any feed back is greatly appreciated.