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Messages - mark78

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Foliofn - LC / folio loan model prices
« on: February 17, 2020, 12:00:00 AM »
This could be interesting if there were additional columns with key parameters. I would suggest interest rate, term, payments made, and credit trend (or change in fico since origination, if you database that).
Foliofn - LC /
« on: January 20, 2020, 12:00:00 AM »
I know price models have been discussed before, for example:,21586.0.html,4824.0.html,4849.0.html

And as Fred93 said at
There's no reporting of transaction prices on Folio, so you have to discover for yourself what prices buyers will pay.

The fact that there is no transaction price data on the folio Marketplace is one of its greatest failings IMHO.  Whoever heard of a market with no historical price information?

I have sold enough notes that I could discover for myself what prices buyers will pay. But that involves a lot of clicking- My Account, Sold This Month, click on current, and write down the details. Is there not an API to get your sold notes, including the grade, interest rate, payments made, etc? Or a way to download it?
PM'd you.
Investors - LC / LLC to get around state restrictions?
« on: April 01, 2019, 11:00:00 PM »
I've been receiving emails from LC about their "Additional Account Types", e.g. corporate accounts. Couldn't an investor living in a restricted state set up an LLC in a permitted state and invest that way? And I assume that would apply to the secondary market as well as new loans?

The last discussion of this on the forum was way back in 2014.

This page says:

Corporate account
An account opened in the name of a corporation or LLC. This type of account can be controlled by an authorized representative of the corporation. If you would like to open an account in the name of a corporation, please contact Investor Services at 1-888-596-3159 or

Investors - LC / Additional Statistics Payment File Down
« on: December 31, 1969, 07:00:00 PM »
I've just started using the additional statistics in my automated buying, and the first such note I bought was an epic fail.

I databased the additional statistics "payments made to investors" file. For Loan ID 68447465, the additional statistics file said it was late just once, many months ago. So when a note for that loan came up for sale at a good discount, my app bought it.

After my app bought the note, I manually inspected the payment history at This shows a completely different story- the loan has been late not once but three times, plus many IGPs that were not in the additional statistics.

The data integrity looks ok, nothing funny with encoding, etc. Has anyone verified the additional statistics matches the payment history on the Folio site?

I find it works to add two figures from the LC Holdings page: Account Total + Pending Settlement. However I only buy on the secondary market. I don't know whether this would work if you buy on the primary market or sell on the secondary market.
After a quick read of your site, I think your product sits on top of the Folio API. Please correct me if I'm wrong.

Foremost among the innumerable problems with Folio is that when you list a note for sale, there is only a small chance that it will be actually "browse-able"- that is, actually listed for sale. There is another thread about that which I can't find at the moment. In my experience, only 10-20% of the notes that I try to sell with the Folio API are actually listed for sale, incredible as that may seem.

Does your product offer any secret sauce or work-around for that bizarre state of affairs? Or asked another way, if I ask you to sell $10,000 of notes, how long would it take to sell every note, assuming I'm not fussy about the price? Because it would take me years using Folio.
This is the same issue as,4789.0.html, except that thread was about buying programatically and this one is about buying manually. I expect the same result though- it will tell you you've bought the note, but a few days later it will be in your "Canceled Buy Orders", with the reason that a payment was pending.
Foliofn - LC /
« on: September 27, 2018, 11:00:00 PM »
I'm trying to use the Orders endpoint in the new LC API to get my open "sell" orders, similar to the example in the API documentation:


I get back orders with the following statuses:


but I do not get any with status IN_LISTING. I do have notes currently for sale- I see them at so I expect them to be IN_LISTING. Has anyone used this API successfully to get open sell orders?

Pleease don't suggest I contact LC support  ::)

Currently my shows about 50 "Purchased this month" and 25 "Canceled Buy Orders", for a success rate of 67%.
Foliofn - LC / Folio API note selling
« on: July 08, 2018, 11:00:00 PM »
The new sell API works for me. I got a response 400 at first, because my expiration date was too long or too short. If you get a 400, look at the response content anyway, and you'll see the error message.

I don't know what the allowable expiration range is. Something like 1-5 days from now.

I can post code if it helps.
I'd really like to understand this, and am more hopeful of discovering the answer empirically than getting a useful response from LC support. I tried testing Dark Vulture's theory, just on a small scale, with mixed results- it seems like maybe receiving a payment is a necessary but not sufficient condition? I don't have any better ideas though. DV, do you still think that's the answer?

I can imagine they might have added that condition to prevent buying then selling for a quick profit.
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