I too was surprised by this and contacted Prosper directly, to have them confirm this. This is the end of my Prosper investing. I looked at the loan description field as an important connection between the person requesting the loan and the investor. I passed up many loans simply because they had no listed reason or purpose for the loan. I also passed up many others because the requester could not write well enough to get their reasons across, so to me they were a poor risk. I will let my current notes run their life, but I will no longer invest in new notes with Prosper.
I have to say I am very let down by this action by Prosper. I truly enjoyed supporting people with my funds (though limited compared to many) and really liked to scrub the requests to pick out the best, but without the loan description field available to "connect" with the applicant, I'm done.
I have to say I am very let down by this action by Prosper. I truly enjoyed supporting people with my funds (though limited compared to many) and really liked to scrub the requests to pick out the best, but without the loan description field available to "connect" with the applicant, I'm done.