P2P Lending / NFT Lending Forum

Supposedly the rules are that you can not list a note with a negative YTM nor any note with a positive YTM but >70% markup - it must be 70% or less mark up and generate a positive YTM.  However, it has long been that even when the YTM is positive, Folio will randomly tell me that a note I have at 69% or 68% "...can only be listed for sale with up to a 70% premium..."  Occasionally it would tell me that a note at 67% is still >70% and I have just dealt with it and lowered the price.  But in the last few weeks it has gotten worse and even notes at 59% premium (with a positive YTM) I get told that it's >70% and I need to reduce it!  I had to list it at 58.72% - it wouldn't even accept 58.81%.  This is occurring randomly as other notes list without issue at ~69%.  More fuzzy math. . .

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https://forum.lendacademy.com/index.php?topic=1953.msg16311#msg88888888Quote"> from: Rob L on January 12, 2014, 12:57:45 PM

https://forum.lendacademy.com/index.php?topic=1674.msg15938#msg88888888Quote"> from: pplinvestor on January 01, 2014, 01:06:06 PM

I hope I'm wrong, but at this point I think the most likely scenario is LC is playing CYA.  They're just not sure yet how to deal with all of the IRA accounts that have traded or are actively trading.  They don't have any clarity from the IRS and who knows what the correspondence between LC and Folio is at this point regarding this issue.

I opened a new Roth for my wife last month, "applied" for a Folio account and was "approved."  First trades settled successfully on Friday.

They are not placing any restrictions on new IRA accounts that attempt to use Folio.

Prosper (and LC) use a trust to hold your funds before they are invested.  Prosper was using WF, but they resigned, so now they are using CSC.

No meaningful impact to users as I can surmise.

Aaaand it's "Completed - in grace period".  Congrats!

Often times, the first payment will fall inside of the grace period due to initial error in establishing the correct account and routing number for the ACH transfer.

https://forum.lendacademy.com/index.php?topic=1754.msg14373#msg14373">Quote"> from: Joe6Luck on November 14, 2013, 12:36:42 AM

I recently got offers from Chase, Discover, and Citi for 0% for 15 months and a 0% balance transfer fee.

I guess those offers are making a comeback.  I haven't seen them like that since pre-2008.

Not only was it dismissed, it was dismissed twice!

LC just posted an explanation for removing accrued interest.

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I was glancing at a note that I had in grace period and noticed new information listed under "Status" where it normally would show "Current", "Completed - on time" and the like.

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https://forum.lendacademy.com/index.php?topic=1660.msg13195#msg88888888Quote"> from: core on October 09, 2013, 07:21:58 PM

https://forum.lendacademy.com/index.php?topic=1620.msg13072#msg88888888Quote"> from: core on October 03, 2013, 06:21:05 PM