![]() In addition, a borrower may apply for up to two loans through Prosper outstanding at one time, provided that: The secondary borrower must also satisfy certain additional credit criteria, including a minimum FICO score of at least 600, at least one open trade reported on the secondary borrower’s credit report, and no bankruptcy filings within the last 12 months. In the case of co-borrower loans, the primary (or “specified”) borrower must satisfy the above credit criteria (except the debt-to-income ratio for joint loans is calculated using the combined debt-to-income ratio of the primary and secondary borrowers without duplication of combined debt). Each borrower applicant is held jointly and severally liable for the obligations under the loan. Prosper also allows two borrowers to apply together as joint applicants for a co-borrower loan. For the Note Channel (i.e., loans funded through listings posted on our marketplace), all borrowers who request a loan are subject to certain minimum eligibility criteria in order to be approved. The underwriting criteria apply for all Borrower Loans originated through our marketplace and may not be changed without WebBank’s consent. WebBank originates loans to borrowers and then sells and assigns the promissory notes evidencing those loans to PFL. bank account and a Social Security number may apply to become a borrower. After a borrower submits a loan application, Prosper first obtains a credit report from TransUnion to evaluate whether the applicant meets the underwriting criteria Prosper has established in conjunction with WebBank. resident in a state where loans through our marketplace are available with a U.S. Any natural person at least 18 years of age who is a U.S.
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