US peer-to-peer lending platform Prosper saw its average loan size remain relatively stable in July compared to June, while the majority of its loans were rated as having a lower level of risk.
Last month, approximately 67 per cent of Prosper’s loan originations were rated AA-B. Prosper loans are assigned a rating from AA (lower risk, lower return) to HR (higher risk, higher return).
The US platform saw its median monthly payment on loan to income ratio and the weighted average borrower rate of originations increase from June to July.
The weighted average borrower rate for originations rose by 0.25 per cent over the prior month. Prosper said this was driven primarily by the increasing mix of C-HR loan originations.
The median monthly payment on Prosper loan to Income ratio increased by 0.12 per cent to reach 5.21 per cent in July.
“The Prosper performance updates are designed to help our investor community better understand performance trends and to provide important insights into the trends we are seeing and the information needed to invest through the Prosper platform,” Prosper said in a blog post.
In June, Prosper implemented a new credit risk scoring model, PMIX and saw the C-HR rating mix rise to 26 per cent as a result.