Prosper Announces New Upcoming Lender Features at Finovate Conference

Prosper announced some new upcoming features at the FINOVATE conference this week. Included in the changes are a more transparent risk estimator when placing a bid. Currently Prosper shows Experian default rates to estimate the risk. Now they have enough data from Prosper loans to start displaying the risk based on Prosper's historical default rates which should give a more accurate picture of the expected returns.





Prosper also announced plans for building auto-portfolios much like the ones that are available at Lending Club. You will be able to select a portfolio based on your risk tolerance and your desired return. This is similar to the standing order options they currently have, but with the new interface Prosper will set the standing order criteria that best matches the selected portfolio.





Along with these changes Prosper has announced that they will be increasing the servicing fees for A loans to 1% and decreasing the servicing fee for AA loans to 0% (not a misprint).