Prosper Marketplace Resolves Some Issues Related to Loan Service Platform Migration

Prosper.com, a company which operates a peer to peer lending marketplace, went through a migration to a new loan servicing platform in early May, leaving many users of the website frustrated by errors that impacted features on Prosper’s website and customer’s accounts.

The company apologized on its blog for the mistakes, saying, “What should have been a seamless front end experience for users didn’t turn out as such. We have resolved many of the most common issues and are getting closer to resolving the remaining ones.”

As part of the migration, Prosper took off loan performance information from its website until it could be setup with its new loan servicing platform, leaving investors who use that information to determine which loans to fund disappointed with the company.  Prosper.com wrote on a blog post, “We have also temporarily suspended the display of the detailed loan performance data on our marketplace performance page while we reconcile the data with our new loan servicing platform. We apologize for the inconvenience this is causing. In early June, we will be restoring access to the loan performance data and all historical information, including the period in which it was unavailable. ”

There were also a limited number of cases in which there have been uses with the website’s user interface and the loan servicing platform, resulting in inaccurate data being displayed to Prosper members on their accounts. Prosper.com says that they have resolved the majority of cases that have suffered from this issue and the remaining will be taken care of this week.



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