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We will issue the Notes in series. Each series will correspond to a single consumer loan originated through our person-to-person online credit auction platform or a previously-funded single consumer loan offered for sale on our platform by one of our financial institution members. In this prospectus, we refer to these consumer loans generally as “borrower loans” and we refer to previously-funded consumer loans listed on our platform by one of our financial institution members as “previously-funded loans.” We refer to the borrower loan upon which a series of Notes is dependent for payment as the “corresponding borrower loan” for the series.

Tags: prosper, S-1 on 2008-12-05 -All Annotations (0) -About

more fromwww.sec.gov

Sale of a security that has not been registered under Section 5 of the Securities Act of 1933 gives rise to a private right of action under Section 12(a)1 of that Act. The remedy that can be enforced with this private right of action is recission of the sale of the unregistered security. In practical terms this means that investors in unregistered Prosper notes that were ultimately uncollectible can get their money back. The Prosper site states that approximately $178,000,000 in loans have been funded, and although the portion of that amount that is uncollectible is not disclosed, there does seem to be disaffection in the Prosper community with Prosper's collection performance. See p2pla.org/docs/4187_001.pdf for a demand letter from the attorney for a group of Prosper investor lenders.

Tags: prosper, recission, desist on 2008-12-01 -All Annotations (0) -About

more fromblog.bwplawyer.com

November 24, the Commission issued an Order Instituting Administrative Proceedings Pursuant to Section 8A of the Securities Act of 1933, Making Findings and Imposing a Cease and Desist Order (Order) against Prosper Marketplace, Inc. (Prosper).

Tags: prosper, SEC, social lending on 2008-11-25 -All Annotations (0) -About

more fromwww.backgroundnow.com

Horrible defence used by Prosper Marketplace in a case of a defualted loan. They claim they never made that loan, and that their lenders did!

Tags: prosper, social, lending on 2008-08-25 -All Annotations (0) -About

more fromwww.prospers.org

Prosper introduces their new tag line

Tags: clblog, prosper on 2008-05-08 -All Annotations (0) -About

more fromwww.netbanker.com