Question about Loans Paid Early

[ktrdsl23]

I wanted to take a look at how I was doing on loans that are paid early.  I moved all of my loans that were paid off early to a new portfolio and it appears that I received $8799 of payments on an investment of $8350.   Assuming no fees that would be a return of 5.3% of course I can't ignore fees.  Is there any simple way for me to determine the amount I lost to fees on this?  I realize the fees will be different if they were paid off a month into the loan vs. a month before the final payment but perhaps there is something quick and dirty I can do to get an approximation.

Thanks.

[Fred]

https://forum.lendacademy.com/index.php?topic=3595.msg31762#msg88888888Quote"> from: ktrdsl23 on January 07, 2016, 11:18:22 AM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=3595.msg31766#msg88888888Quote"> from: Fred on January 07, 2016, 05:32:33 PM

[GS]

In order to get a real idea of how loans paid off early compare to your returns, you'd have to annualized the return .... Otherwise, 4.3% does really tell you much ...

Perhaps a way to approximate it a little closer .... If you can get an average of how many months a note is held before it pays off -lets say the average is 6 months - Then is likely that prepaid notes are giving you an annual return of about 8 percent.

It's complicated a bit more because LC waives the 1% fee on larger than normal payments during the first year, so hypothetically, if you pay 1 cent on a 1 dollar monthly payment for five months, then get a $23 payment to pay off the note, you still only pay one cent on that last payment, for a total of 6 cents in fees on $28 in payments ...

[Lovinglifestyle]

https://forum.lendacademy.com/index.php?topic=3595.msg31766#msg88888888Quote"> from: Fred on January 07, 2016, 05:32:33 PM

[Fred93]

https://forum.lendacademy.com/index.php?topic=3595.msg39870#msg88888888Quote"> from: Lovinglifestyle on February 23, 2017, 08:37:38 PM

[jheizer]

Agreed. Works here too.

[TravelingPennies]

Under the title "Rates and Fees" do you get an empty white box (as do I)?  Or do you get the breakdown of grades and sub-grades with their current interest rates in the box (as I used to)?  I tried the link several times from different places before posting--can't imagine why there aren't any colors, grades, and numbers in the box!

[TravelingPennies]

The box is not empty. 

Perhaps you need to clear your browser cache or restart your browser or try a different browser or something of that sort.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=3595.msg39875#msg88888888Quote"> from: Fred93 on February 23, 2017, 09:27:16 PM