Who is "kind-bid-healer" who buys all these .....

[SeattleSun]

(Yes I know this is the LC Investor thread but it gets about 10X the views as the Prosper one)

...these defaulted Prosper loans? 

"kind-bid-healer" has bought every one (60) of my defaulted Prosper loans for 11 cents on the dollar.

So besides "who" how about "what" is the strategy with doing that.

Just curious if anyone knows, TIA

[AnilG]

Penny notes strategy. It has been discussed several times on the forum. i also wrote a blog post about it.

Lending Club FOLIOfn Secondary Market: Penny Note Strategy based on Lowest Ask Price
https://www.peercube.com/blog/post/lending-club-foliofn-secondary-market-penny-note-strategy-based-on-lowest-ask-price" class="bbc_link" target="_blank">https://www.peercube.com/blog/post/lending-club-foliofn-secondary-market-penny-note-strategy-based-on-lowest-ask-price