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Starting today, Folio prevents selling notes with processing payments.

Started by Peter, November 07, 2013, 11:00:00 PM

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TonySaunders

https://forum.lendacademy.com/proxy.php?request=http%3A%2F%2Ftonysaunders.net%2Fpics%2Fnotesale.png&hash=37f6250384ac45878eecf6af58445acf" alt="" class="bbc_img" />

I speculate that this was to prevent certain abuses. At least one of which I had become accustomed to looking out for and/or taking advantage of.

brycemason

We all knew this was coming. I suspect half the people on this board will now disappear into the void.


New Jersey Guy

"Yes this completely obliterated my amazingly lucrative strategy but that will not stop me from finding a new one."

I see this making a big mess for relisting.  How are we supposed to keep track of the "4 Business Days"?  If I have 22 notes cancel over 4 days, how am I supposed to remember which ones will qualify for relisting tomorrow?

Secondly, 4 days off the market?  That's a lot of time to have a note just sitting there doing nothing.



TravelingPennies

Many people were using the IGP trick as a basis of their trading strategy. Half is hyperbole. Maybe you're right and they'll just adapt to a new way.




TravelingPennies

"Secondly, 4 days off the market?  That's a lot of time to have a note just sitting there doing nothing."

"It still accrues interest to the note holder."


Doesn't mean a darn thing if the borrower isn't paying to begin with. 


TravelingPennies

" If I am a professional like New Jersey Guy, I will not complain"

Now, now now!  I just had this conversation with DanB this morning!  I never participated in that "grey area" of trading!  Despite what you might have read, I do have a conscience.

Besides, my Folio forte' is fleecing the elderly out of their life savings.

Anybody interested in a bridge?


yaoyao

This new change also means that we will no longer get cancelled orders due to payment.

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