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Author Topic: What are you doing with the LC notes now?

R
  • Posts: 48
What are you doing with the LC notes now?
OP: May 12, 2016, 11:00:00 PM
I am selling about 1/4 of all notes in Folio to deleverage my LC account.

Update: sold a bunch today and lost close to $300+fee. This month will likely have negative return :(  Bye bye notes. But I will come back! >:(
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j
  • Posts: 143
What are you doing with the LC notes now?
#1: May 12, 2016, 11:00:00 PM
I picked "Cherry picking notes in Folio with idle cash" as it is most relevant to this even though it was only a few notes.  But I always have ~1/2 my account on folio for a too high mark up.  Today I lowered that markup to be not quite as crazy.
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T
  • Posts: 6588
What are you doing with the LC notes now?
#3: May 13, 2016, 11:00:00 PM
Well some may call me crazy but my cash is all gone.  I can't resist UP loans discounted 5% that hit all my criteria if they were new loans. Too bad I never got around to automating folio.  It never seemed worth the effort since I stopped adding new money in Jan or Feb.  The $200 or so a week that comes in from payments is easily put into fresh loans.  I wonder if I can sell some more of my decent but not amazing loans at par  just to try to get more discounted ones.  I hope HR tax software is supported this year :)
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T
  • Posts: 6588
What are you doing with the LC notes now?
#4: May 13, 2016, 11:00:00 PM
Plenty of people are buying and selling.  I have been refreshing a more tightened filter and blocks of loans are appearing and being bought right up.  Others are jumping in for the fire sale.
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f
  • Posts: 132
What are you doing with the LC notes now?
#5: May 13, 2016, 11:00:00 PM
Same boat as others, no notes on LC for my filter.  Hopped on folio, same criteria, loads of E notes with nice deep cut, 9 month old, 60 month.  I will take a shot at these solid notes, at steep discount.  Their panic is my gain, or their panic is my loss. 
Guess the question is, who is on tilt here?
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s
  • Posts: 78
What are you doing with the LC notes now?
#6: May 13, 2016, 11:00:00 PM
I'm finding lots of bargains on Folio right now.  I've put my automated investing on hold as I have been able to find second-hand notes with the same narrow criteria I use for new notes with flat or upward FICO score trend and at a  2-5% discount.  Prior to this week, it was extremely rare to find them discounted.  My returns are holding steady.  I think unless you are a stockholder or institutional investor, this week's news doesn't really have any impact.

That said, if I could diversify into Prosper loans in my state, I would probably look into that.  I might put my future contributions toward paying down my mortgage.  But then there are bargains to be had on Folio.  Decisions, decisions...
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n
  • Posts: 18
What are you doing with the LC notes now?
#8: May 13, 2016, 11:00:00 PM
You would be subordinate.....good luck with that
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L
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What are you doing with the LC notes now?
#12: May 13, 2016, 11:00:00 PM
Every time I hear "Servicing Agreement" I'm reminded of Loanio, which made no effort to collect payments from borrowers who decided they were tired of paying.  Anybody know if LC has a new agreement which also includes the services of a collections department?


Quote"> from: DanB on October 08, 2014, 09:13:22 AM
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What are you doing with the LC notes now?
#13: May 13, 2016, 11:00:00 PM
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