Evaluation of Credit Risk
Prosper has provided an increasing amount of information about prospective borrowers over time, while also making various changes to its credit policy. Prior to its 2008 shutdown and 2009 SEC registration, the company provided "Credit Grades" and other credit information about its prospective lenders. Following the SEC registration, the company created a new model that determined "Prosper Ratings" instead. Additionally, new prospective borrowers were required to have an Experian Scorex PLUS credit score of at least 640, while returning borrowers only need a score of 600 to request a loan.
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