The following is a useful link in determining what stats default the most. This knowledge may help you pick better loans.
In general loans following the criteria listed below have less than a 15% default rate for each thing listed, when added together you can assume the rate would drop exponentially:
-Borrower should have 3 or more current credit lines.
-Borrower should have at least 3 open credit lines.
-Borrower should have should have less than 2 inquiries in the last 6 months.
-Borrower should have less than 60% Bankcard utilization.
-Borrower should have 0 current delenquencies.
-Borrower should have 0 delenquencies in the last 7 years.
-Borrower should have 0 public records.
-Exclude borrowerswhos employment is not available.
-Avois lenders that use auto-funding.
-Borrower should have less than 35% DTI
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For fastest funding you should fit one of the following groups. For E and HR or those with delenquencies or public records, you will most likely need a friend or two to bid as well as have lower DTI than 30% and lower than 50% bankcard utilization.
Credit grade: A
Debt to income ratio: ≤40%
Loan amount: any
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-5 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-2 inquiries
Revolving credit balance: ≤$75,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 22.70%
Credit grade: B
Debt to income ratio: ≤30%
Loan amount: $10,000.00+
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-3 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 2-4 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$50,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 19.85%
Credit grade: B
Debt to income ratio: ≤30%
Loan amount: $1,000.00-$9,999.00
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-10 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 3-8 inquiries
First credit line: 5+ years ago
Revolving credit balance: ≤$50,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 21.15%
Credit grade: C
Debt to income ratio: ≤30%
Loan amount: ≤$9,999
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-10 delinquencies
Public records:0 in last 10y
Inquiries in last 6m: 0-1 inquiries
Revolving credit balance:≤$25,000.00
Bankcard utilization: ≤97% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 19.90%
Credit grade: D
Debt to income ratio: ≤20%
Loan amount: ≤$4,999.00
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-7 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-1 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$25,000.00
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 17.00%
Credit grade: D
Debt to income ratio: ≤30%
Loan amount: $5,000.00-$9,999
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-7 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-1 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$25,000.00
Employment status: Only Full-time employee, Part-time employee, Retired, Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 17.80%
Credit grade: A
Debt to income ratio: ≤40%
Loan amount: any
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-5 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-2 inquiries
Revolving credit balance: ≤$75,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 22.70%
Credit grade: B
Debt to income ratio: ≤30%
Loan amount: $10,000.00+
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-3 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 2-4 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$50,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 19.85%
Credit grade: B
Debt to income ratio: ≤30%
Loan amount: $1,000.00-$9,999.00
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-10 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 3-8 inquiries
First credit line: 5+ years ago
Revolving credit balance: ≤$50,000.00
Bankcard utilization: ≤75% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 21.15%
Credit grade: C
Debt to income ratio: ≤30%
Loan amount: ≤$9,999
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-10 delinquencies
Public records:0 in last 10y
Inquiries in last 6m: 0-1 inquiries
Revolving credit balance:≤$25,000.00
Bankcard utilization: ≤97% utilization
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 19.90%
Credit grade: D
Debt to income ratio: ≤20%
Loan amount: ≤$4,999.00
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-7 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-1 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$25,000.00
Employment status: Only Full-time employee, Part-time employee, Retired
Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 17.00%
Credit grade: D
Debt to income ratio: ≤30%
Loan amount: $5,000.00-$9,999
Automatic funding: No
Now delinquent: 0 delinquent accounts
Delinquencies in last 7y: 0-7 delinquencies
Public records: 0 in last 10y
Inquiries in last 6m: 0-1 inquiries
First credit line: 3+ years ago
Revolving credit balance: ≤$25,000.00
Employment status: Only Full-time employee, Part-time employee, Retired, Stated income: Not displayed, $1-$24,999, $25,000-$49,999, $50,000-$74,999, $75,000-$99,999, $100,000+
Minimum interest rate: 17.80%
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You can read all about my strategies, thoughts, and observations at
http://prosperlending-myexperience.blogspot.com/
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