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Started by Peter, September 15, 2014, 11:00:00 PM

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zoolender

Hi,

Long-time investor in Lending Club, first time forum poster. I've found that in the last half year or so, I've not been able to sell any notes on folio, the trading platform. Doesn't seem to matter how low I price the notes for.

Is anyone else experiencing this? Would love to see what others' experience with selling their notes have been in the recent months.

Thanks.

rawraw

I sell notes biweekly.  Normally around 40-50 at a time and they sell pretty quickly.

GS

Can you give us an example of what you are trying to sell, and how much you are asking? 

Lovinglifestyle

Where my selling price kicks in for lates:

16+  days late:  -70%
31+  days late:  -90%

TravelingPennies

Thanks for the responses.

I was pricing them based on blogs & Nickel Steamroller...read somewhere quite a while ago of someone who priced in grace period notes at 2-3% discount and was successful. And that sort of worked for a while.

Late notes are being priced from 25-75% off depending on degree of lateness.

From what Lovinglifestyle shared, I must not be pricing aggressively enough. I'll give that a try.

RaymondG

I sold several 31+late notes in last two weeks. Most of them  were sold soon after I marked price down to less than -90%. Could you provide an loan ID of what you are selling -90%? I may try to buy it to see if it will work. No more than $2 please.

Update: actually 60+PD for -90% discount.

TravelingPennies

Sorry, my lates are all gone now.
I'm working on a batch of Graces at -20% so far.

TravelingPennies

You guys are selling 31 PD for 90% discount?  Maybe Fred is onto something. . .


TravelingPennies

If I knew how to program, I'd  be more active on Folio.  I think there is a lot of mispricing going on there.

hoggy1

I found a couple beauty's last week. Someone was selling all their $25 newly late 16+ days notes for $10 even. I bought 2 that had 2 or 3 on time payments and otherwise looked good and both came current within the week.

TravelingPennies




thezfunk


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