Auxmoney Changes Display Rules for Credit Scores

P2P lending service Auxmoney changed its TOS today. Auxmoney will make display of pulled credit scores mandatory (there are 3 score types obtained from different bureaus). In the past the display of credit scores was optional and borrowers could decide, if they want them in their listing. In fact borrowers could decide to remove credit scores from their loan listing should they consider a low score to hurt funding chances.

In practise only loan applications with displayed scores had realistic funding chances in the past – over 90% of the funded loans had at least one credit score information (see chart). But this is still a positive step, offering more transparency for lenders and allowing easier comparision of the over 2,000 open loan listings.

Two Millionaires becomes the largest group on ever!

With the click of a mouse late Thursday night March 1, 2007, the leader of the Two Millionaires Group on admitted the 5,509th member and created the largest group on Prosper ever! The one remaining challenge at the time was to beat PsychDoc's record number of loans created….

Asked about how his group succeeded in growing so large so rapidly, "TwoMillionaires1" the group leader replied that he did a lot of internet marketing in the beginning to bring new members in, and it grew from there to the point where today word of mouth from contented borrowers brings in probably hundreds of new members each week.

 "It didn't hurt either to have a private website that has attracted more than 300,000 hits and 10,000 unique visitors," the group leader added.

An upcoming press release is likely to bring in a huge influx of new members over the next few weeks.

As of the date of this report, more than one and a half million dollars has been loaned to members of this popular people-to-people online borrowing and lending group, almost 400 individual loans.

Details are available at: