Title: What are you doing with the LC notes now?
Post by: RaymondG on May 12, 2016, 11:00:00 PM
Post by: RaymondG on May 12, 2016, 11:00:00 PM
I am selling about 1/4 of all notes in Folio to deleverage my LC account.
Update: sold a bunch today and lost close to $300+fee. This month will likely have negative return
Bye bye notes. But I will come back! 
Update: sold a bunch today and lost close to $300+fee. This month will likely have negative return
Bye bye notes. But I will come back!
Title: What are you doing with the LC notes now?
Post by: jheizer on May 12, 2016, 11:00:00 PM
Post by: jheizer on May 12, 2016, 11:00:00 PM
I picked "Cherry picking notes in Folio with idle cash" as it is most relevant to this even though it was only a few notes. But I always have ~1/2 my account on folio for a too high mark up. Today I lowered that markup to be not quite as crazy.
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 12, 2016, 11:00:00 PM
Post by: TravelingPennies on May 12, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Well some may call me crazy but my cash is all gone. I can't resist UP loans discounted 5% that hit all my criteria if they were new loans. Too bad I never got around to automating folio. It never seemed worth the effort since I stopped adding new money in Jan or Feb. The $200 or so a week that comes in from payments is easily put into fresh loans. I wonder if I can sell some more of my decent but not amazing loans at par just to try to get more discounted ones. I hope HR tax software is supported this year 
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Plenty of people are buying and selling. I have been refreshing a more tightened filter and blocks of loans are appearing and being bought right up. Others are jumping in for the fire sale.
Title: What are you doing with the LC notes now?
Post by: fliphusker on May 13, 2016, 11:00:00 PM
Post by: fliphusker on May 13, 2016, 11:00:00 PM
Same boat as others, no notes on LC for my filter. Hopped on folio, same criteria, loads of E notes with nice deep cut, 9 month old, 60 month. I will take a shot at these solid notes, at steep discount. Their panic is my gain, or their panic is my loss.
Guess the question is, who is on tilt here?
Guess the question is, who is on tilt here?
Title: What are you doing with the LC notes now?
Post by: storm on May 13, 2016, 11:00:00 PM
Post by: storm on May 13, 2016, 11:00:00 PM
I'm finding lots of bargains on Folio right now. I've put my automated investing on hold as I have been able to find second-hand notes with the same narrow criteria I use for new notes with flat or upward FICO score trend and at a 2-5% discount. Prior to this week, it was extremely rare to find them discounted. My returns are holding steady. I think unless you are a stockholder or institutional investor, this week's news doesn't really have any impact.
That said, if I could diversify into Prosper loans in my state, I would probably look into that. I might put my future contributions toward paying down my mortgage. But then there are bargains to be had on Folio. Decisions, decisions...
That said, if I could diversify into Prosper loans in my state, I would probably look into that. I might put my future contributions toward paying down my mortgage. But then there are bargains to be had on Folio. Decisions, decisions...
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: newstreet on May 13, 2016, 11:00:00 PM
Post by: newstreet on May 13, 2016, 11:00:00 PM
You would be subordinate.....good luck with that
Title: What are you doing with the LC notes now?
Post by: Fred93 on May 13, 2016, 11:00:00 PM
Post by: Fred93 on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: Rude Dude on May 13, 2016, 11:00:00 PM
Post by: Rude Dude on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: Lovinglifestyle on May 13, 2016, 11:00:00 PM
Post by: Lovinglifestyle on May 13, 2016, 11:00:00 PM
Every time I hear "Servicing Agreement" I'm reminded of Loanio, which made no effort to collect payments from borrowers who decided they were tired of paying. Anybody know if LC has a new agreement which also includes the services of a collections department?
Quote"> from: DanB on October 08, 2014, 09:13:22 AM
Quote"> from: DanB on October 08, 2014, 09:13:22 AM
Title: What are you doing with the LC notes now?
Post by: Peter on May 13, 2016, 11:00:00 PM
Post by: Peter on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Post by: TravelingPennies on May 13, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: sommers on May 14, 2016, 11:00:00 PM
Post by: sommers on May 14, 2016, 11:00:00 PM
I am concerned there is no more "action" on these Lending Academy forums. How many individual note investors are there? I would have thought there would be multiple posters and threads by now.
Is there a better venue to openly discuss and comment on this situation from an investor (note holder--not stock holder) perspective?
Is there a better venue to openly discuss and comment on this situation from an investor (note holder--not stock holder) perspective?
Title: What are you doing with the LC notes now?
Post by: Rob L on May 14, 2016, 11:00:00 PM
Post by: Rob L on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: andy3109 on May 14, 2016, 11:00:00 PM
Post by: andy3109 on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: Booleans on May 14, 2016, 11:00:00 PM
Post by: Booleans on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: Ribald on May 14, 2016, 11:00:00 PM
Post by: Ribald on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: jz451 on May 14, 2016, 11:00:00 PM
Post by: jz451 on May 14, 2016, 11:00:00 PM
I'm continuing as usual with my all Folio portfolio. My portfolio isn't big enough to take advantage of this selling influx.
Title: What are you doing with the LC notes now?
Post by: rawraw on May 14, 2016, 11:00:00 PM
Post by: rawraw on May 14, 2016, 11:00:00 PM
I'm buying only absolute bargains on Folio. Not investing otherwise and have my entire account up for sale for a markup which will likely result in few sales. That markup will decline gradually until I get a little more sales. I've limited the amount I can go to cash to 30% of my portfolio. But of course, some of that cash may get invested in the Folio purchases. I'm still deciding what to do, as if this forum is any indicate I think 2Q volumes will look bad. I am trying to get a better sense of what 3Q would look like given various outcomes in 2Q
Title: What are you doing with the LC notes now?
Post by: Fred93 on May 14, 2016, 11:00:00 PM
Post by: Fred93 on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: RaymondG on May 14, 2016, 11:00:00 PM
Post by: RaymondG on May 14, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 14, 2016, 11:00:00 PM
Post by: TravelingPennies on May 14, 2016, 11:00:00 PM
Just checked the Folio. It seems that there are less notes on sale and with less discount on folio now, according to the filter I used to check the status. It was decreased to 2000 notes from 4000 a day ago, and the discount % was changed from over -4% to about -1.5%.
The filter being used is
https://www.lendingclub.com/foliofn/tradingInventory.action?mode=search&search_from_rate=0.16&search_to_rate=0.19&remp_min=20&remp_max=51&askp_min=9&askp_max=51&search_loan_term=term_60&credit_score_min=660&credit_score_max=770&ytm_min=15&ytm_max=25.99&opr_min=10&opr_max=50&credit_score_trend=UP&credit_score_trend=FLAT&markup_dis_min=-33&markup_dis_max=0.3&loan_status=loan_status_current&never_late=true&ona_min=25&ona_max=100
The filter being used is
https://www.lendingclub.com/foliofn/tradingInventory.action?mode=search&search_from_rate=0.16&search_to_rate=0.19&remp_min=20&remp_max=51&askp_min=9&askp_max=51&search_loan_term=term_60&credit_score_min=660&credit_score_max=770&ytm_min=15&ytm_max=25.99&opr_min=10&opr_max=50&credit_score_trend=UP&credit_score_trend=FLAT&markup_dis_min=-33&markup_dis_max=0.3&loan_status=loan_status_current&never_late=true&ona_min=25&ona_max=100
Title: What are you doing with the LC notes now?
Post by: jheizer on May 15, 2016, 11:00:00 PM
Post by: jheizer on May 15, 2016, 11:00:00 PM
Blah 2/3 of my cherry picks cancelled to do pending payment. Stupid folio.
Title: What are you doing with the LC notes now?
Post by: AnilG on May 15, 2016, 11:00:00 PM
Post by: AnilG on May 15, 2016, 11:00:00 PM
Updating the loan count on FOLIO from another post. There seems to be uptick in loans available on Folio. Also, markups on notes seem to be declining. From https://www.peercube.com/folionotes/index
Code: [Select]
Code: [Select]
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 15, 2016, 11:00:00 PM
Post by: TravelingPennies on May 15, 2016, 11:00:00 PM
Title: What are you doing with the LC notes now?
Post by: TravelingPennies on May 15, 2016, 11:00:00 PM
Post by: TravelingPennies on May 15, 2016, 11:00:00 PM
I just wish they'd have them hit the auto cancel mark when there is no hope of the transaction completing instead of leaving it up there.
Title: What are you doing with the LC notes now?
Post by: putch on May 16, 2016, 11:00:00 PM
Post by: putch on May 16, 2016, 11:00:00 PM
Is anyone here selling at a significant loss on secondary market? If so at what discount per and with any volume?
Title: What are you doing with the LC notes now?
Post by: fliphusker on May 16, 2016, 11:00:00 PM
Post by: fliphusker on May 16, 2016, 11:00:00 PM