Well my average rate is 20.33% now. I want to tell you that nothing ever seems to happen fast on Prosper. Once the bidding has ended and you are a winning bidder, Prosper says they will "occasionally" verify information from the borrower, which could take up to seven business days. Now I'm all for verifying information. If they tell me they make $80,000 a year and they only make $25,000, I have a big problem, but they don't really tell you this could happen until you win. Also, all three of my loans have had this review take place. One of them actually verified a day later, the most recent one took two or three days, and the other must have taken the full seven days. It just makes me wonder about that "occasional" part. Maybe I just got lucky and my three happened to be three of the "occasional" ones.
Well, my first payment is not due til August 27th, but I'm anxious to see how long it takes for me to get credit for it. I'll keep you posted!
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