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Messages - macroman7799

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16
Investors - LC / Post-News IRA Strategy
« on: October 08, 2020, 11:00:00 PM »
My first question is if the  hi-yield savings accounts will have a IRA version because  my LC account is an IRA. I would only view the high-yield savings as a temporary parking place on the way to a new IRA.

Also I was thinking about recharacterizing the IRA as a Roth. I was going to do this a little at a time as I move funds to the new account but I wonder if maybe I should do it all at once this year.
17
Investors - LC /
« on: October 08, 2020, 11:00:00 PM »
If they did manage to come up with 0.70% or more that might  make it wothwhile to move non-LC money to the new account but that just doesn't seem likely. My question, will there be an IRA version of the new account because my LC account is an IRA.
18
Investors - LC / LC Picks New Year Sale
« on: August 16, 2020, 11:00:00 PM »
 :'(

Too bad that Folio is shutting down.
19
Foliofn - LC / Goldman to buy Folio
« on: August 06, 2020, 11:00:00 PM »
20
Investors - LC / Value of notes beyond 120 days late
« on: August 06, 2020, 11:00:00 PM »
I have not done a study but I have been listing these on the secondary portal for 10-20% of face value and am happy when they sell. I wouldn't go lower than that because these notes occasionally come back and will commonly sell for about 10% of face in a debt sale.

FYI- the folio portal is about to close with last trade 8/26 and final settlement 8/27. When the same thing happened at Prosper I picked up some nice bargains on the secondary market as a lot of people were willing to give a good discount to get their money out.
22
Investors - LC / Folio ending August 28th.
« on: August 06, 2020, 11:00:00 PM »
Thanks, I just saw this today and was going to post it myself.
23
I had a prosper note that had been charged off about five years come up with full payment including back interest.

I think the borrower in such a situation would be engaging in credit repair.

I would call Customer Service and ask them about how such payments would be handled.
25
I went through my last paystub and built a simulated W-2 so I know where my taxes stand. Historically my employer has not sent out the W-2 forms until the last possible moment.
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Foliofn - LC / Stale Credit Scores.
« on: January 11, 2020, 12:00:00 AM »
Thanks for pointing this out. I only sell marginal notes on Folio. I use the credit score as one of my criteria but had not noticed how stale that data is. Maybe more of us need to call LC so that it's more on their radar.
29
Technically duration is the dollar weighted average maturity of a security or a portfolio. In other words, on average, how long does it take for your funds to come back to you. I believe that the estimate of a 3 yr note having an approximate duration of a year is pretty close.

A long duration portfolio will lose more value as rates rise and also as defaults rise. Duration is an important risk metric.
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