Prosper.com announced yesterday that the offers received for late loans to be sold off as defaults were to low to be acceotable. Doug Fuller, Vice President of Operations says, that with offers at 1.5 cents for the dollar, Prosper believes "the prudent course of business is NOT to sell them at this time". More on the Prosper blog post.
debt sale
Prosper CTO John Witchel on the debt sale process
In his blog, John Witchel, CTO of Prosper.com, describes the current situation regarding the sale of defaulted loans. This offers an insight look at the problems and the future plannings. Check the comments, too.