Prosper Review – Should You Take the Social Lending Plunge?

by Neal Frankle, CFP ®

When you consider any financial transaction, it’s always good to start out with a negative bias. In other words, it’s good to actively look for problems and search for what might go wrong before you sign on the bottom line. I always assume the worst and look for landmines. If I don’t find anything, I rest easy. My Prosper review is no different. Let’s get started.

What is Prosper?

Prosper.com Personal LoansProsper.com is a peer to peer lending company. It isn’t a bank but more like a match maker. They take individual people who want to invest and put them together with people who need to borrow money. They have over 1.66 million members and service $474,000,000 in loans. The loans range from $2,000 to $25,000 for 1, 3 or 5 years. The loans are fully amortized too – they are not interest only loans. Also, loans can be paid off early (fully or partially) without any pre-payment penalty.

Prosper was actually the very first peer-to-peer lending company. Countless numbers of borrowers have used Proper to save millions in interest and as just as many people have earned multiples of what they otherwise could in the bank. (But be cautious – investing in Prosper in not like investing in the bank. More on that later.)

The screen shot below is from their homepage. You can see that it’s appealing both for investors and for borrowers.

prosper review

How does Prosper work?

It’s a three-step process:

  1. Borrowers sign up for free at Prosper and list the amount they want to borrow.
  2. Investors review loans that are available and select those that meet their own personal criteria.
  3. Once loans are funded, borrowers make monthly payments that are deposited into the investors’ account.

Why would anyone borrow money this way?

There are two kinds of borrowers that come to Prosper to fund their loans. The first group wants to pay a lower interest rate than they currently pay. For example, if you have a high-interest credit card debt you might use Prosper to find lenders who are willing to loan you the money at a much lower rate. That would save you a ton of money.

The second group of people simply have no other source of funding and come to Prosper as a last resort. Lets say you want to start a new business, pay off some bills or buy a new home. If you can’t find a institution willing to loan you the money, that’s where Prosper steps in. They help find you people who are not only willing to lend you money, they are eager to do so.

Why would anyone invest this way?

People invest with Prosper because they want higher rates than they can earn elsewhere. Lenders can invest a very small amount in many loans or concentrate more capital in a small number of loans. The choice is up to each investor.

What are the risks of using Prosper?

There are two risks for investors. First, you take the risk that the borrower may default. If they do, you are pretty much out to lunch because the loans are unsecured. That means you have no collateral whatsoever. Prosper suggests that you can reduce your risk in a variety of ways.

First only make loans to high quality borrowers. Prosper rates each borrower based on their credit score and credit history. The lower the score, the higher the interest rate charged but the greater the risk. If you want to reduce your risks as an investor, make loans to higher rated borrowers. If you want higher returns and are willing to take a chance, put some money with higher risk borrowers. You can also do a little of both to blend higher security with higher returns.

The best way to reduce your risk is to have many loans. When I spoke with the folks at Prosper they told me that the happiest investors are those who invest in at least 100 loans. Since the minimum investment is $25 per loan, you would want to start with $2500 (at least) to spread your money out sufficiently.

What if the borrower defaults?

If the borrower defaults you may lose your money. That’s why you are smart if you make lots of small investments in many loans rather than concentrate your capital in just a few loans.

Prosper uses a collection agency for any loan that is more than 30 days late and you might get some of your money back this way but don’t count on it. That’s because the people who are delinquent probably aren’t going to cough up what they owe you. Also, the collection agency will take a nice bite out of whatever they do collect – between 15% and 30%. You are much better off by having lots of little loans and investing in higher-quality borrowers in my opinion.

Prosper has also taken steps to help investors reduce losses and they’ve taken great strides to improve investors’ performance. When they first opened their doors, they didn’t scrutinize borrowers as well as they should have.Take a look at the chart below. This shows performance from 2005 through 2009 and indicates that if you made any loans other than those rated AA through B you would have lost money because of defaults.

prosper review

But Prosper regrouped and really tightened up their underwriting since 2009. Look at the newer performance numbers below:

prosper review

These numbers look a lot better. It indicates that defaults are still there but nothing like they used to be. In fact, every single loan rating class was profitable even after the defaults. That is fantastic. It looks Prosper is doing a great job at underwriting loans. That means they are finding borrowers that repay their loans for the most part.

 

There is even more you can do to get a better quality loan. The site allows you to read up on the borrower to see who you are doing business with. You can review their credit rating and a great deal more. You see how the borrower intends to use the money and the total amount the person wants to borrow. You can even ask the borrower questions and see his or her responses to questions other potential lenders have asked.

prosper review

prosper review

How are borrowers rated and what are the rates they pay?

Prosper runs a credit report and gets the credit history for every potential borrower. Then, they ask more questions in order to arrive at a rating. Every borrower is assigned to one of 8 categories:

  • AA
  • A
  • B
  • C
  • D
  • E
  • HR

Based on the rating that Prosper assigns, the borrower pays a stated interest rate and that rate is fixed for the duration of the loan. The higher the rating the lower the interest charged. Your rate will also be influenced by how long you want the money for and whether or not you’ve been financed by Prosper before. Here is a current rate sheet (subject to change) for AA borrowers:

prosper review

You can see that the rate goes down as the length of the loan decreases. If you want the money for a long time, you’ll pay higher rates. This seems logical to me.

What are the risks for borrowers?

I can’t think of any. If you are already paying a high interest rate, what harm can there be in trying to get a lower rate? It only takes a few minutes to set up your listing. The worst case is that no lenders will fund you. In that case, you are no worse off than you were before you started the procedure.

I suppose the one down side could be that you might borrow money that you really shouldn’t. In other words, if all the banks have turned you down, maybe they know something you don’t. It might be the universe’s way of telling you to walk away and do something else. Prosper might facilitate you getting a loan that you really should not take. While I don’t believe this is a huge problem, it is certainly a question borrowers should ask themselves before they take the money.

What does Prosper get out of this?

Prosper isn’t doing this for their health. They charge investors 1% of the loan balance every year. In other words, the borrower might be paying 8% but the investor will get 7%. There are also loan origination fees the borrower must pay if the loan is actually funded. In addition, if the borrower is late on making payments Prosper will charge the borrower $15 which they keep.

How do investors get started with Prosper?

Getting set up takes about 5 minutes. You sign up for Prosper and attach your bank account to your Prosper account so you can transfer money back and forth. While it will only take you 5 minutes to set it up, it will actually take a few days before you can actually invest.

That’s because Prosper makes a small token deposit and withdrawal into and out of your bank account. Then, you verify the transactions. This is done to ensure you really are who you say you are. I like it. From that point on, you simply transfer money into your Prosper account, decide which loans to invest in and start collecting those juicy interest checks.

You select your loans based on the amount of risk you are willing to take and the length of time you are willing to invest for. You can either select specific loans that you like or use an automated system called “quick invest” do the work for you.

prosper review

The above shows the “browse listings” screen. You can see a variety of options and the ratings too. Also, you can see the status of the verification process as shown. This indicates how far along Prosper is in verifying all the borrower’s information. The loans that are further along this verification process are more attractive because they have a higher likelihood of being funded.

Loan payments will automatically be deducted from the borrowers account and deposited into your Prosper account. You can then either have that money automatically deposited into your bank account or you can invest it in other loans.

What happens if an investor wants to cash out before the loan is repaid?

This is where Prosper shines. Unlike other peer-to-peer lending companies, there is a liquid secondary market for Prosper loans. That’s pretty nifty. You can sell your loan on Folio Investing any time you like. Keep in mind that depending on market conditions you may get more or less than you originally invested. Folio also charges 1% of the face amount of the loan as a transaction fee.

Who can invest?

If you are 18 years old and are a resident of one of the states below and you have a valid social security number, you can invest:

Alaska, California, Colorado, Connecticut, Delaware, District of Columbia, Florida, Georgia, Hawaii, Idaho, Illinois, Louisiana, Maine, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, New York,Oregon, Rhode Island, South Carolina, South Dakota, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin and Wyoming.

If you live in Idaho, New Hampshire, Oregon, Virginia, Washington, Maine or California you can invest but you must meet certain requirements. They aren’t that difficult to overcome but you must be aware of them.

Who can borrow money?

Residents of Iowa, Maine and North Dakota are out of luck – Prosper won’t help you get a loan. All other residents of the United States are able to borrow with Prosper.

You will need a Experian Scorex Plus score of at least 640. Once you apply, Prosper will check your credit score. You must have a bank account and a Social Security number. Keep in mind that the loans can be as little as $2000 and as great as $25,000 (but no more).

If you want a rate quote, you’ll have to complete an application. That means you’ll have to supply your social security number. Prosper says that this process isn’t considered a hard inquiry on your credit report. As a result, it won’t count negatively on your credit history.

What does it cost to get a loan?

You pay nothing to list your loan. Once your loan is funded you’ll be charged a closing fee according to the following schedule:

prosper review

How do borrowers get set up?

Step 1 – Create a loan listing.

Prosper did a good job making this very easy to do. It’s simple and takes less than 5 minutes. Borrowers go to the site and sign up. There, they answer a few questions to see how Prosper can get you the best rate and the best terms. Then they check your identity and get your credit score. According to the site, this doesn’t impact your credit since it isn’t a hard inquiry.

This is the point where Prosper assigns a rating. The rating determines the interest rate you’ll be charged. Up until this point, you still haven’t paid a dime in fees. I like that as well.

Step 2 Investors commit to fund your loan

Once you’ve completed step 1, your loan listing goes live on Prosper’s site. Investors see your listing and if it’s a fit, they’ll commit to fund some or all of your loan. You can watch this process as it unfolds. The loan stays live until it’s either fully funded or for 14 days. If you haven’t received commitments for at least 70% of the amount by 14 days, the loan is taken down and you don’t get a loan. Of course you can try again by simply creating a new listing.

Step 3 Receive Your Money and Then Start To Make Your Payments

Once your loan is funded you’ll start making the agreed upon payments. The payment will be automatically deducted from your bank account. You can pay the loan off early if you like. There are no hidden fees or prepayment penalties. The interest will never change either. These are all points I really appreciate and respect.

What about late fees?

If your payment fails, you’ll pay a $15 penalty. That goes for failed automatic withdrawals, returned checks or bank drafts. Prosper keeps that penalty money.

What is the best way for a borrower to get fully funded and funded quickly?

There are a number of things borrowers can do.

  • Amount – Prosper reports that smaller loans get funded faster than larger loans.
  • Help Prosper during the verification process – Once you begin the process your loan will be listed and made available to investors. But during the funding phase there is a parallel verification phase where Prosper will ask you for supporting documents to prove your identity, income and employment status. The sooner you return those documents to Prosper the better. That’s because Lenders like to commit funds to loans that are going to happen. They don’t want to tie up their money for a few weeks only to learn that the loan isn’t going to be funded. This verification process is shown real-time on the site so make sure to help Prosper advance your process as much as possible.
  • Advertise – Prosper has Facebook and Twitter buttons on their site. Use them to advertise your loan to your Facebook and Twitter followers. While you’re at it, tell your friends and family about what you are doing. They may want a piece of the action. The faster you get a high percentage of your loan funded the more likely it will be that you’ll get all the funding you asked for.

Make sure to check your spelling and grammar on your listing. If you demonstrate sloppiness in your application lenders will assume you’ll be sloppy about repaying them as well. Don’t open that door.

Bottom Line – What I like About Prosper

  1. Transparency – I loved the fact that Prosper’s site had all the data – good or bad – and it was easy to find. I like that they clearly point out the risks with respect to defaults.
  2. Improvement – In 2008 the SEC shut down all the peer to peer lending companies. They decided that these loans were securities and as such the companies selling the securities had to register as such. Only two such companies did so – Lending Club and Prosper. Prosper came out of the process very strong. They vastly enhanced their ability to screen out dead-beat borrowers (but they couldn’t eliminate that of course.) You can see that before the SEC took action, the only people making money were those making the highest quality loans. But since they emerged and registered with the SEC, almost all the loan categories are performing. That means Prosper is experiencing far fewer defaults. Nobody can say if that trend will continue but it’s a big step in the right direction.
  3. Contingency Planning – While the business is growing you just never know. I asked Prosper what would happen to investors if the company went out of business. They told me they have an arrangement with a third-party to continue servicing loans if that were to take place.
  4. Strength – Prosper doubled their business in 2012. That’s impressive. Also, they recently accepted a $20 million dollar investment into the firm itself. The money came from Sequoia Capital. These are the folks who worked with Steve Jobs at Apple, Larry Ellison of Oracle, Jerry Yang at Yahoo!, Larry Page of Google etc etc. They are very serious investors and know how to do their homework. I believe that’s a good sign too. In December of 2012 investors brought them $10 million in new assets. That shows solid growth.
  5. Easy to use – I like that the sight is easy to use for both borrowers and investors. I like the “quick invest” feature to help investors locate the loans that meet their needs.

My concerns about Prosper

As a borrower, I have no concerns what-so-ever. If you need money and can get it cheaper from Prosper there is no reason why you wouldn’t do so. For investors, I might tread with caution. I don’t have any real concerns about the integrity of the people who run the company. I was very impressed with this. I have just two worries.

I guess I am old fashioned. I don’t like the idea of lending money to people I don’t know (I actually don’t like lending money to anyone.) And I certainly don’t like making unsecured loans. That isn’t a criticism with Prosper but with the idea of the industry. To be fair, Prosper has really done an amazing job of tightening up their underwriting. Their loan losses seem acceptable now. While they used to make loans to people with lower credit scores, they no longer extend any loans to those without at least a 640 credit score. This alone has really helped them. So this may be an emotional hesitation rather than one based on reality.

The other concern I have is about an old class action suit which has not been settled. Given the fact that some institutional investors recently bought some of the privately help stock to the tune of $26 million, I would think that the law suit is not a major obstacle to the viability of the company but I don’t know that to be the case.

I suppose it’s difficult to find any large company that isn’t being sued by somebody and to be frank, it’s not my major concern. If I were to invest in a company like this it would be with a small amount of money at first. And I would only do so if I had at least $2500 to get the minimum 100 loans I feel are needed. I would do that for a year and learn more. I would see what the experience was like – and I’d also hope for more clarity on the litigation.

*Before investing with Prosper, be sure to read their prospectus.

** Please be advised that I am an affiliate of Prosper and will make money if you open an account with them. You can learn more about their affiliate program here.

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{ 38 comments… read them below or add one }

Rick January 6, 2014 at 6:27 AM

IF you have money to hand out, then become a lender. There are a lot of “Loan Theives” willing to seperate you from your money. I know for a fact, I have made many loans, and about 1/3 of them bailed with my money! No way to get it back!

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Neal Frankle, CFP ® November 21, 2013 at 2:46 PM

I am glad your experience has been a good one Joe. Different states do have different requirements and that is an excellent point. I think this new industry will continue to go thru it’s ups and downs and the regulators will continue to change their positions quite a bit. Thanks!

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Neal Frankle October 10, 2013 at 5:44 PM

What happened Cory? Did you invest in low- quality loans? What was the root of the problem you think? Tell me more please.

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Paige Cline August 10, 2013 at 8:38 AM

I am thinking about uses Prosper as a borrow to pay off credit debits. I am a little hesitate and have read the pros & cons on this website of being an investor and borrower. Can anyone give me feedback on the borrowing side?

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Mazi July 18, 2013 at 8:47 AM

They play the same document runaround with lenders too. Its a wonder they stay in business. I provided a passport for ID. Every time I tried to lend I would get error messages prompting me to fax identification. They emailed me a lender services #. I called and had to wait through 10 prompts before finally getting the “to speak to a representative” then was told its not good enough. All of my account information is the same state and the funding bank is the same state. There are better companies for this service. They stole time from my life! I am sure they are profiting off the information they have already collected on me. I was up and running with Lendingclub.com immediately. Cancelled Prosper.com and never looked back.

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Donna McInvale April 6, 2013 at 11:20 AM

Wonderful information…thanks. If I sign up I will remember to come back to your affiliate link.

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Jeanie Brandt March 1, 2013 at 4:15 AM

Neal, my question regarding borrower default was intended for you. Sorry…

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Jeanie Brandt March 1, 2013 at 4:13 AM

If a borrower refuses to pay off their loan, other than a collection agency attempting to regain the money, is legal action taken against the borrower? And will the default atleast show up on their credit report?

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Neal Frankle March 1, 2013 at 6:54 AM

The only action they take is to use collection agencies. They have found that the court costs make it prohibitive to pursue a legal remedy. I am sure that the collection agents threaten this…but I’m not sure it goes that far. However, the default absolutely shows up on the credit report. At the end of the day, this is why you need to diversify across a broad spectrum of loans. If you use a service like Prosper or Lending Club, you are going to have defaults. So if you go this route, make lots of very small loans my friend.

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James December 17, 2012 at 3:21 PM

Neal,
Awesome. Thank you. I just got started with a local meetup group playing Robert Kiyosaki’s CASHFLOW game. Talk about inspiration. Perfecting timing to come across this information.

Also, just want you to know that after reviewing Prosper’s website, and as I was about to sign up, I remembered you’re an affiliate. You bring genuine value to this whole discussion, so I stopped and used your affiliate link. That’s what it’s all about.

Thanks again!

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Neal Frankle December 18, 2012 at 5:14 AM

James – I super appreciate it! Very kind and thoughtful. Let us know how your experience is w/Prosper please.

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Matt November 15, 2012 at 10:07 AM

Just stumbled across this article on a search regarding Prosper. Unfortunately, though, it looks like Maryland is not eligible for investing. Did that not used to be the case? Any idea why it changed, if so?

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Neal Frankle November 15, 2012 at 11:48 AM

Not sure Matt. But I suggest you talk to I believe they do business in Maryland. Are you looking to invest or to take a loan? Some states only allow investors – others only allow borrowers. Crazy…but true.

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Greg November 8, 2012 at 6:03 PM

I’ve been an Investor with Prosper since 2007 and have been pleased with the results so far. From 2007-2008 I averaged 7.04% return. Not bad when the stock market started to plunge 20%. 2009-2011 I’m was averaging 12.57% and in 2012 I’m averaging 16.12%. I’m shooting for a 20% return.
I’m considered a large investor investing over 100K on 374 micro loans so far. 33 of those loans were defaulted on from 2007-today. Majority of the defaults came in 2007-2009 time frame due to the economy I assume. Here is what I found out the hard way, the percentage of personal loans defaulted equally across the board, meaning if the borrower’s rating was an AA to an HR they defaulted equally, meaning Prosper’s rating system is flawed. You would think the AA borrower’s were more likely to pay back the loans. This is NOT the case. Also 54% of MY default loans came from people asking for $20K to $25K. I now do not offer loans to people asking for that much.
You have to remember you have to treat this like a business you cannot go blindly into this and expect everyone to pay you back at 30%. If you do decide to try Prosper.com please, please do so in a very small amount of cash and learn from your mistakes.

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Neal Frankle November 8, 2012 at 10:11 PM

Greg…..excellent ideas and congratulations on the fantastic results! Thanks for weighing in. Very helpful.

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James December 31, 2012 at 11:33 AM

Some good insight. I just started with Prosper. Funds have transferred and I wonder if you, or anyone experienced with Prosper lending, can suggest an online forum where people share strategies and results. I’ve read Prosper’s recommendations, but I like to hear from real lenders’ experiences as well.

I’m using filters and not really too concerned with borrower write-ups. I have a simple filter now which is probably too conservative. But I’m taking baby steps, I guess.

Thanks

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Neal Frankle December 31, 2012 at 11:45 AM

James. This is a good question. I did a google search on “prosper lending forum” and a number of sites came up. Some seemed shady but others seemed legit. Have you tried that approach?

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Peter Renton December 31, 2012 at 12:03 PM

James, I run a website about p2p lending which includes an active forum discussion area. It is for Lending Club and Prosper investors. I hope Neal doesn’t mind me linking to it here:
http://www.lendacademy.com/forum/index.php

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Neal Frankle December 31, 2012 at 12:06 PM

No …..Peter…I am glad you chimed in. Peter has a wonderful site and I recommend it highly. Thanks for chiming in Peter.

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James December 31, 2012 at 12:19 PM

Peter, I think I stumbled upon your site before! The logo looks familiar. I have so many browser tabs open right now, it’s crazy. Hopefully this site will help decide to close some browser tabs and focus on what’s important. Thanks!

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James December 31, 2012 at 12:16 PM

Thanks to you both. I will look into Peter’s website. Just as these comments came in, I discovered LendingStats. It seems to have a filter testing tool for both Prosper and LendingClub. I just got started with it, but it looks like one can recreate their filter p2p lending filter on this site and it’ll generate historical results using the filter criteria. Of course, I guess its accuracy depends on the people who created it, so not sure how reliable it is. Just another tool, though. Thanks again!

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Peter Renton December 31, 2012 at 12:25 PM

James, If you are looking to analyze the loan history of Prosper the leading site is Prosper Stats:
http://www.prosper-stats.com/

Lendstats.com, which I presume is the site you are referring to, no longer works for Prosper data.

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Luke Powell October 9, 2012 at 9:24 PM

Neal,

The investor service fee is 1% on the outstanding principle not per year.

Thank Luke

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neal April 25, 2012 at 12:01 PM

Absolutely terrible customer service, I will never consider applying with them again, they claim that they will mail you documents and they never do, and then you get a call from a stupid rude representative who makes matters even worse.

Stay away from prosper lending

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Neal Frankle April 12, 2012 at 8:09 AM

Guys, Here is the response from Prosper:

Residents of Kansas are currently eligible to list/get funding.

Residents of Kansas are not currently eligible to lend.

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Shaun April 11, 2012 at 12:54 PM

Neal,

Your article lists Kansas as an approved lending state. Prosper’s website currently lists Kansas as not approved, though at the bottom of the page it does say it was last updated June 30th, 2011. Kansas happens to be my home state and I have been periodically watching Prosper to see if Kansas would ever be allowed to lend. I would think it would be in Prosper’s best interest to keep their site updated, in order to bring in new lenders, but I can’t dismiss the possibility that they haven’t kept up with it. Is Kansas actually approved?

Thanks

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Neal Frankle April 11, 2012 at 3:44 PM

I placed a call to my contact at Prosper and I’ll post the reply when I receive it.

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Peter Renton April 11, 2012 at 4:00 PM

Shaun, My understanding is that Kansas is not approved for lending by either Prosper or Lending Club. The reason the site has not been updated in a while is because there has been no movement on this. No state has been added for investors for at least two years now. If you want to do something about it you should read this blog post and take some action (hope you don’t mind me providing a link here, Neal):
http://www.sociallending.net/regulation/why-some-states-dont-allow-p2p-lending-investments/

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Neal Frankle April 11, 2012 at 4:21 PM

Shaun, Peter is a great authority on this subject. Peter, thanks for providing the resource. I will still post Prosper’s reply when they come back to me. Thanks guys.

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Tim Sweeney January 29, 2012 at 6:42 AM

Prosper is a good at what they do. I never had any problems moving money in or out as an investor. However, my return was about break even. Twenty six notes, sixteen of which paid in full. The others went into collection. I thought diversity would help me, and in a way I guess it did. If I had invested everything in one of the notes that went south then I would have included several curse words in this comment.
Prosper does encourage investors to make many small loans not one or two large ones.

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Glenn G. Millar January 30, 2012 at 1:23 PM

Tim – You are absolutely correct. We actually looked at every investor since July 2009 who had more than 100 notes and 100% of them had a positive return.

And we are very glad you did not have to use curse words. :)

Glenn G. Millar
Prosper Employee
Notes Offered by Prospectus

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SB January 24, 2012 at 12:49 PM

I use Prosper as a borrower and have found it a great tool for paying off debt. One of my cards was going to spike to an almost 30% interest rate (depite my good credit and excellent pymt history). I paid it off via Prosper at 11% (not a stellar rate but I was happy vs. 30%!) and the $2300.00 I borrowed will be paid off this fall.

I also really like the fact that individuals are getting the 11% and not banks. Every month I know my debt is being paid off for good and it’s a great feeling.

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Neal Frankle January 24, 2012 at 1:40 PM

Very good to hear it’s working for you Shannon.

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Juan January 24, 2012 at 8:47 AM

Looks like a pretty nice way to make some cash on the side. 5-10 percent yields really aren’t that bad with treasuries being as low as they are.

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James November 19, 2012 at 8:57 AM

These investments are in no way comparable to the treasury market’s credit risk or liquidity.

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Neal Frankle November 19, 2012 at 10:05 AM

Agreed. Did someone say there were?

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Peter Renton January 23, 2012 at 3:07 PM

Great review Neal, one of the most detailed I have ever seen about Prosper. I have been very impressed with their returns since they reopened after their quiet period in July 2009. I opened an account in 2010 with $1,000 and now have around $30K invested now in about 600 loans. My portfolio is still young but the returns have been excellent – more than 15% last year.

Just one small correction. Prosper does not base their credit scores on FICO. They use Experian Scorex Plus which has a range of 300 to 900 and it doesn’t match up exactly with FICO.

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Neal Frankle January 23, 2012 at 3:38 PM

Peter, coming from you, this is a huge compliment. Thanks. I have great respect for your site. Thanks for dropping by and the kind words.

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