P2P Lending / NFT Lending Forum

Getting a 250 final allocation when you subscribed to 350 is actually pretty damn good on a hot IPO like this one.  I'm actually surprised as many shares were granted.  Usually Wall Street folk don't  give opportunities like this out except to insiders with special relationships.  Anyone that got shares should view this as an unexpected windfall.

While the share allocation starts at 5am, we're not going to find out until after 9am what we our final allocation is.  If we get more than 50% of our allocations, I'll be shocked.  I suspect it will be much smaller than what we are all hoping.  I hope I'm wrong. With the re-pricing that has occurred over the past few days, I'm actually thinking this might open up over $20/share. 

https://forum.lendacademy.com/index.php?topic=1674.msg15654#msg88888888Quote"> from: core on December 19, 2013, 09:39:09 PM

I suspect they are dealing with the IRS as we speak on a resolution.  I seriously doubt anyone that traded on an IRA account will have it treated as a distribution this year.  LC probably convinced the IRS it would be a quicker resolution (i.e. by tax year 2014) to set up IRA LC accounts to be linked to IRA folio accounts than to systematically restrict the current LC IRA accounts from trading with nonIRA Folio accounts, and the IRS allowed them to just put a restriction notice on their website as an interim solution.  I believe we'll see a resolution before the new year.  I'd also guess that in 2014 any trading on non IRA folio accounts would be treated as a distribution by the IRS.

Wow, well done Storm!  Do you use Folio or hold your notes to maturity?  If you use Folio, mind sharing your basic strategy?

https://forum.lendacademy.com/index.php?topic=1835.msg15213#msg88888888Quote"> from: Bohb Daishi on December 05, 2013, 02:28:50 AM

I have been building an analytical tool and I'm researching different scenarios.  Here is an interesting one:
This is looking at only 36 month loans.
For loans listed from November 1 through Thanksgiving (11/22) in 2012, here were the Current/Paid rates vs. late payments as of mid November this year.
GRADE   Crrnt/Paid       Grace/16-30       Chg/Df/31+  # Loans
A           96.9%       0.2%               2.9%              651
B           95.1%       0.9%               4.0%            1392
C           94.2%       0.7%               5.1%              863
D           93.1%       1.5%               5.4%              467
E           92.8%       1.4%               5.8%                69
F           90.0%       0.0%               10.0%              10

For loans listed from the day after Thanksgiving (11/23/12) thru the day after Cyber Monday (11/27/12), here were the Current/Paid rates vs. late payments as of mid November this year.
GRADE   Crrnt/Paid      Grace/16-30     Chg/Df/31    # Loans
A           97.6%       0.8%               1.6%              127
B           93.4%       1.5%               5.1%              273
C           90.4%       2.4%               7.2%              166
D           92.0%       4.5%               3.4%                88
E           83.3%       0.0%             16.7%                12
F         100.0%       0.0%               0.0%                  2

I think I'll lay low over the next few days!  B and Cs have been my primary targets.

https://forum.lendacademy.com/index.php?topic=1812.msg14979#msg14979">Quote"> from: rlv99 on November 29, 2013, 06:12:26 PM

New to P2P.  So if I am reading this right, Prosper allows IRAs to trade on Folio, but you can't sell late notes.  On LC, you can sell late notes on Folio, but you can't trade on Folio in an IRA account.  Sounds like with LC, it's just a matter of time to get it approved since Prosper is already doing it.  But, with Prosper, is there any thought on them ever allowing late notes to be sold on Folio?  Overall, I like LC better and have started funding an IRA account, but I'm kinda bummed about the folio restriction which I didn't know about until after I signed up.  Based on what I'm reading, it seems likely LC will get this worked out...I hope!  Learning a lot on here, thanks for all the great posts.

New here. I would agree that selling late notes on folio makes sense and at least you can potentially get something out of a potential default.  This is why after signing up and starting the Ira rollover funding process I now concerned about investing because I just learned that IRA accounts cannot use folio to sell.  Apparently, this is a relatively new disclosure on Lending Club that wasn't stated previously.