Posting of Bids. As a registered Prosper lender, you may post bids on listings displayed on the platform. “Listings” are Prosper borrowers’ loan requests that are displayed on the platform. Listings include the borrower’s requested loan amount, maximum offered interest rate and corresponding yield percentage, and the minimum yield percentage that may be bid on the listing. The yield percentage is the lender member’s effective yield, net of servicing fees. The minimum yield percentage applicable to each listing is based on the Prosper Rating assigned to the listing and will be calculated by adding the national average certificate of deposit rate that matches the term of the loan, as published by XxxxXxxx.xxx, to the minimum estimated loss rate associated with the Prosper Rating assigned to the listing, which estimated loss rate is based on the historical performance of similar Prosper loans. Listings include a Prosper Rating, which is a letter grade that may be based on a custom Prosper score that indicates the level of risk associated with the listing and corresponds to an estimated average annualized loss rate range for the listing. Listings also include other information, including but not limited to, the borrower’s debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), and the borrower’s self-reported annual income range, occupation and employment status. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. Prosper lenders may ask borrowers questions about their listings and borrowers may, but are not required to, respond to such questions. Borrowers who elect to respond to a lender’s question may respond privately, or they may elect to have the question and answer posted publicly in the listing. Lenders’ questions are not posted in the listing or displayed elsewhere on our website unless the borrower elects to answer the question and elects to make the question and answer publicly available, in which case the question and answer appears in the listing. We do not verify any borrowers’ responses to lender members’ questions. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full loan amount requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a ...
Posting of Bids. The Company will post an electronic notice when the bidding window opens for the Schedule bid period. The notice will be posted at least 45 calendar days prior to the start of the closed schedule bid periods and will be posted by June 30 for the open bid period. All bid windows will remain open for 21 calendar days.
Posting of Bids. Upon registration, you may post bids on listings displayed on the Prosper website. “Listings” are Prosper borrowers’ loan requests, or descriptions of existing borrower loans that are offered for sale by financial institutions registered with Prosper (referred to below as “originators”), that are displayed on the Prosper website along with desired loan amount or outstanding balance, offered interest rate, borrower credit grade, non-housing debt-to-income ratio, credit information from the borrower’s credit report, the borrower’s group affiliation (if any), the borrower’s self-reported (unless otherwise indicated) annual income range, occupation and employment status, and collateral (if any) securing the borrower loan. Borrowers are identified by a Prosper user name but are not able to disclose their identity or contact information to lenders. A bid by a lender on a listing is the lender’s commitment to purchase from Prosper a Note in the principal amount of the lender’s winning bid, provided that the listing has received bids totaling the full amount requested in the listing. Lenders “bid” the amount they are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the corresponding borrower loan, and the minimum interest rate they are willing to receive. Lenders must have funds in the amount of the bid on deposit in the Prosper funding account (described below). Once a bid is placed, it is irrevocable, and during the time a bid is a “winning” bid on the listing, the amount of the bid is not permitted to be withdrawn from the lender’s Prosper funding account. Lender bids become “winning” bids if such bids are in the group of bids for Notes that, in the aggregate, correspond to the principal amount or amount offered for of the corresponding borrower loan and are in the lowest interest rate among all bids placed against the listing.
Posting of Bids. After you register, you may post bids on Borrower Requests listed by Borrower Members on the Loanio website, subject to the terms of this Agreement and the other Loanio Terms and Conditions. Borrower Members are identified by a Loanio user name but are not allowed to disclose their identity or contact information to Lender Members or any other members of the website. A bid by a Lender Member is the Lender Member’s commitment to purchase a Note issued by Loanio in the principal amount of the Lender Member’s bid, in the event the posting receives an amount of bids totaling the amount of the Borrower Member’s requested Loan, or a sufficient portion thereof so that the Borrower Member can choose to take such lesser Loan amount and issue a Revised Request. Lender Members "bid" the amount they are willing to commit to the purchase of the Note that is solely dependent for payment on the payments Loanio receives on the corresponding borrower loan, and the lowest interest rate they are willing to receive. Lender Members must have funds in the amount of the bid on deposit in the Loanio FBO Account, and such funds must remain on deposit for the entire time that bid is a "winning" bid on the Request or Revised Request. Lender Member bids are deemed to be "winning" bids if such bids are a part of the group of bids that total the amount of the requested Loan and have the lowest interest rate out of all bids placed against the Request. Once a bid is made by a Lender Member it may not be rescinded and is irrevocable.
Posting of Bids. By entering into this Agreement with us, you will be eligible to post bids on postings. A “bid” is your commitment to purchase a Note from us in the principal amount and at the interest rate set forth in your bid. You bid the amount you are willing to commit to the purchase of a Note that is dependent for payment on payments we receive on the registered borrower loan corresponding to the posting and the interest rate you are willing to receive. A registered borrower loan will be closed and funded if the registered borrower chooses to manually accept bids reflecting full or partial funding of the loan or chooses to accept bids reflecting full funding of the loan using the Auto-Fund feature of our loan marketplace (as described below). Currently, a bid may be between $25 and the full amount of the posting. Once you have finished placing bids, you may review all of your selected bids before confirming your order. Once confirmed, your bids represent a binding commitment to purchase Notes from us that are dependent for payment on the corresponding registered borrower loan. However, your funds are only committed to purchase a Note when a registered borrower accepts the bids and funds the corresponding registered borrower loan. Any bids not accepted by a registered borrower at the time the loan funds or when posting expires will automatically be withdrawn. During the time that you have outstanding bids, you will be allowed to withdraw funds from your IOU account provided that you keep a minimum balance in your IOU account equal to the funds allocated to fund your placed bids.
