Credit where credit is due:
Getting that bankruptcy remote vehicle in place to protect your retail investors has turned out to be a hugely pro-consumer move.
You didn't have to do it, and you basically totally abandoned us retail investors in favor of chasing institutional dough, after you did it, anyway, but, hey, you did actually do it. And that was the absolute right call.
Well done.
Yeah. It was because of their BRV and my desire for platform diversification that I opened an account with Prosper in July 2014. I'm continuing to reinvest and made no changes in reaction to the LC troubles. I use their Quick Invest, A & B notes only, with a few simple filters and have had no trouble keeping all my cash invested.
how does this impact me as an investor?
Can someone point me to the Prosper page that explains BRV?
@Anil can probably speak to this. I believe he has a decent understanding of Prosper's BRV structure.
Fred has it right -
Prosper Funding LLC has the notes and contracts with Prosper Marketplace Inc for technology (website), servicing, collections, customer service, etc.