I've seen no movement so far today on my 6/7/8th notes.
I thought i was the only one. I figured all my notes were imploding simultaneously; glad someone brought it up.
Now maybe I can sleep tonight.
Same here. Looks like we'll have yet another day of undeserved grace period payments on our notes. Does anyone have a list handy of the previous dates?
This go-round went rather well for me. Some seller thought he gonna stick me with hundreds of pre-grace notes, figuring that the ones that had payments coming in would get canceled and only the grace ones would settle. I usually buy them anyway since I can usually make a few cents if I'm lucky before they go into grace. But boy was he likely surprised when they all settled today and he parted with 1/10th of his notes at pretty decent discounts. He sure got what was coming to him this time, after pulling this for weeks.
Nice score, core. How much did he discount them?
Not only are my notes not posting, but my automatic deposit has not posted as well.
Is this the usual IT maintenance date -- are they spending three days backing out the changes and restoring the files???
Or is LC holding the cash to make their banker happy by raising their MONTHLY AVG CASH BALANCE?
Hmmm that's strange, because I distinctly remember reading a post somewhere that said LC didn't think it was a high priority to fix the previous notations. Since you both recall the same thing I guess I am mistaken.
That's almost beside the point though. What I want to know is what is the cause of this. How can you just decide not to process payments for an entire day? And after the problem is seen just put it off until tomorrow? If the script aborts then surely in the mid-afternoon pacific time there is somebody at the office who can restart it or whatever is necessary. Please tell me this is not a manual process and somebody just "forgot" again.
They did make some kind of adjustment. The notes with false grace periods show up in a "Never Late" search on FolioFn, assuming there are no other late payments. That considerably reduces the damage of the false grace periods.
That 'Never Late' search is buggy as hell, or there is much more going on than meets the eye. Notes show up there that I wouldn't expect (possibly as a result of this adjustment you speak of) but also notes that should show up do not. It also depends on when you check. But I'm assuming you've done your homework and checked this out thoroughly? Very interesting information. Thanks.
No, I won't claim thoroughness, but I can state that I've put about 25 of these notes up for sale, and all of them that I checked (about half) showed up in Never Late searches.
Old ones, or ones from this most recent incident?
Looks like the processing has started, I've had 3 updates so far. I had a 6th post as IGP, but two 7ths have posted as On Time. No 8th or 9th have gone through yet.
I guess we can add 9/6/2013 to the list.
Same experience here. My 6ths did show as IGP, but my 7ths and 8ths are posting as on time. Awesome. Guess I'll end up making more than a case of beer off this deal after all.
Since this seems to be a special processing run, I wonder if the code that normally busts trades due to payment received isn't going to have an effect on this batch? Talk about JACKPOT. Hey Dan, you speak of perception and the common man and how nobody should be able to make nosebleed returns on the backs of other investors, well just look for yourself, those who are worried about perception in your eyes are doing it to themselves... causing those nosebleeds to happen.