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Author Topic: whole loan holding period

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whole loan holding period
OP: April 01, 2016, 11:00:00 PM
It used to be that loans which were selected for the whole-loan market would stay there for 12 hours, and then transition to the fractional-loan market.  Then I read someplace that it was 24 hours, although for years I haven't actually looked at the numbers.

However, the API field for each listing which says when this transition will take place is ilsExpD (initial loan status expiration date), and now I'm seeing this field take on values such as 04/16/2016, which is 14 days from now.  14 days is a lot more than 24 hours.

It seems like something has changed. 

Is LC really holding listings in the whole-loan category for their entire lifetime now? 
Or has the meaning of this field somehow changed, and I didn't get the message? 
Or am I just confused?
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whole loan holding period
#1: April 03, 2016, 11:00:00 PM
Tangential, but related:

My understanding is that any particular borrower's loan being originated and any particular securities from that loan being sold are now
more "decoupled" in time than they used to be.  This may have led to some timing (and timing pressure relief) changes to LC's backend.

That's just an ansatz.  But I think a lot of confusion has come from the notion that a loan must "be funded" before a loan "is funded". :)
I wonder whether the tachyon-like "purchase-signalling" mechanism is still in place or whether we've reached a point of self-sufficiency.

(No wonder Wittgenstein didn't like "be" verbs...)
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whole loan holding period
#4: April 06, 2016, 11:00:00 PM
Yes, most whole loans are being held whole for the entire period usually 14 days. Some F & G loans may become fractional in the last day or two. Since the majority of loans are now whole loans, that does not leave a lot of loans for the non-institutional investors.
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