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What are you doing with the LC notes now?

Started by Peter, May 16, 2016, 11:00:00 PM

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RaymondG

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 https://forum.lendacademy.com/Smileys/default/sad.gif" alt=":(" title="Sad" class="smiley" />  Bye bye notes. But I will come back! https://forum.lendacademy.com/Smileys/default/angry.gif" alt=">:(" title="Angry" class="smiley" />

jheizer

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.


TravelingPennies

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 https://forum.lendacademy.com/Smileys/default/smiley.gif" alt=":)" title="Smiley" class="smiley" />

TravelingPennies

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.

fliphusker

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?

storm

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...


newstreet

You would be subordinate.....good luck with that




Lovinglifestyle

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?


https://forum.lendacademy.com/index.php?topic=2701.msg23655#msg23655">Quote"> from: DanB on October 08, 2014, 09:13:22 AM

Peter

Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns


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