Lenders may not require prospective borrowers to provide proof of identity, proof of employment, financial statements, a credit report, or authorization to obtain a credit report as a condition to bidding on listings, and borrowers are not encouraged to provide such information. When a borrower creates a listing, Prosper obtains their credit report and determines their credit grade, which is displayed in the listing. That is the only credit grade relevant to lenders placing bids on Prosper.
Thursday, November 09, 2006
Lenders may not require prospective borrowers to provide proof of identity, proof of employment, financial statements, a credit report, or authorization to obtain a credit report as a condition to bidding on listings, and borrowers are not encouraged to provide such information. When a borrower creates a listing, Prosper obtains their credit report and determines their credit grade, which is displayed in the listing. That is the only credit grade relevant to lenders placing bids on Prosper.
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