Prosper Loan Sales Highly Dependent on One Big Buyer

Forty-five percent of all loans originated by Prosper Marketplace in the first quarter of 2018 were sold to a single buyer, according to their latest earnings statement. The single largest buyer over the same period last year had only purchased 33% of their loans.

Last year, Prosper announced that they had closed a deal with a consortium of institutional investors to buy up to $5 billion worth of loans over the next 24 months. The investors in the consortium are affiliates of New Residential Investment Corp., Jefferies Group LLC and Third Point LLC.

Prosper originated $744 million worth of loans in the first quarter of this year alone. $333 million of those were purchased by the consortium for a total of $2.16B purchased to-date.