Prosper.com after 3 months
Back in March, I blogged about Prosper.com, a new social-networking style service that matches up borrowers and lenders and provides a host of services to both.
After 3 months, I've heard some disappointing news from a Prosper investor: 3 loans are dilenquent, and one of those never made a single payment. I was optimistic about Prosper's potential default rate, but what I'm hearing isn't encouraging.
I still think the service has a lot of potential, but it seems that making smaller loans and spreading the money out as much as possible is the best way to maximize one's return. I'll keep my eye on it: I'm curious about the forthcoming collection efforts on those delinquent loans.
Do know of any website or resource that compares and contrasts checking account features (fees, ATM charges, etc...) among the leading banks? I'm trying to locate a bank (not internet bank) that gives something like 5 free ATM withdrawals from other institutions' machines (i.e. paying the ATM charges for me). I live in Maryland.
Posted by: darrian nayz | August 08, 2006 at 10:40 AM
My first thought is bankrate.com, but I haven't found exactly what you're looking for yet. I'll keep poking around for something.
Posted by: Jeff Michael | August 08, 2006 at 02:01 PM
The State of Massachussetts offers this resource:
http://db.state.ma.us/dob/banksmain2.asp
I'm trying to find the equvalent for Maryland.
Posted by: Jeff Michael | August 08, 2006 at 02:04 PM
WOW ... that Massachusetts site is great! I searched for something like that here in MD but to no avail. I found this resource (http://www.bankrate.com/brm/news/checkingstudy2004/home.asp) but it is close to 2 years old. Thank you for you help Mr. Michael!
Posted by: darrian nayz | August 09, 2006 at 07:03 AM