I received notification today that I have received the final payment on my last outstanding loan with Prosper.com. I'm now finally through with that experiment. I made a total of four loans and two of them defaulted. One was paid in full over the 3 year loan period and one was paid in full early - about 10 months ahead of schedule. I lost about $350 of my $500 investment.
I've said it before and I'll say it again. Lending through Prosper isn't for me. I can get higher rates of return on loans that are secured by real property. Prosper is apparently going through some sort of registration process with the SEC, so they are not currently accepting new lenders or originating new loans from existing lenders. They have been in this state for a couple of months and they give no indication of when they might start lending again. That's got to be hurting their income.
Once the last payment to my account has been finalized in about 2 to 3 days, I'll transfer my money out of Prosper and close my account.