Is Folfiofn canceling sell orders on Loan Payment?

[yojoakak]

My Canceled Sell Orders table is getting huge.

I know Foliofn used to reverse a Pending Sale when a Loan Payment came in, then put the note back up for sale at the original asking price.

Now it seems like they're just canceling sell orders when a loan payment comes in.

I actually think that's a better idea, because a few times I've had a late loan up for sale at a hefty discount. A payment would come in bringing the loan up to date, but it would still be listed at a big discount. Inevitably someone would swoop in and buy it before I noticed and/or updated the price.

[SeanMcD]

Sometimes.  I haven't been able to figure out their new logic yet, but on any given day, about half of the loans I have for sale that receive payment get canceled (without having any pending purchases) and the other half remain for sale at the original price.

[AmCap]

It makes sense; a payment on a loan would reduce principal somewhat and pay down accrued interest.  The note would have to be re-priced.

[Randawl]

That's been happening to me, too.  I can't tell if the cancellations are coming from "currently for sale" and "sold but not processed" or just from the "currently for sale" group.

Quote

[Grant]

This is why I wish I could price my notes as an absolute % markup... It would only need to be posted once and then, as interest accrued or payments made, the price would be adjusted accordingly.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=651.msg2966#msg88888888Quote"> from: Randawl on January 19, 2013, 02:03:37 AM

[william]

https://forum.lendacademy.com/index.php?topic=651.msg2968#msg88888888Quote"> from: Grant on January 19, 2013, 05:45:42 AM

[TravelingPennies]

I know from experience that on prosper you can set your prices for a set of notes as a percentage of principal and accrued interest.  It doesn't adjust automatically, but it makes pricing so much easier.

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=651.msg2968#msg88888888Quote"> from: Grant on January 19, 2013, 05:45:42 AM

[Lloigor]

I would like to be able to price a group at the same percentage markup, but I feel like having it not change once priced is a good thing.  That way your note gets a sliver cheaper and more appealing to buyers each day it doesn't sell.