Author Topic: where have all the good (folio) notes gone..?  (Read 9964 times)

lender_john

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where have all the good (folio) notes gone..?
« on: April 15, 2013, 01:15:07 PM »
I'm used to seeing 100s of notes each week that meet most of my criteria and purchasing a few of them at a time.

In the last two weeks or so, next to nothing.  I don't know if there are less people selling or more buying, but I just don't see too many lately.

I know it can't be just me, because some of my notes have sold at a significant markup over the last week.

rev

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Re: where have all the good (folio) notes gone..?
« Reply #1 on: April 15, 2013, 01:24:05 PM »
What is normally your criteria?

lender_john

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Re: where have all the good (folio) notes gone..?
« Reply #2 on: April 15, 2013, 01:34:23 PM »

Its a long list, but to start the note should be over 14% and no more than $25 or $50, no more than a few payments made on it and not at a significant markup.

I'm used to running out of money in my accounts weekly, but only purchased a few notes in the last couple weeks.

yaoyao

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Re: where have all the good (folio) notes gone..?
« Reply #3 on: April 15, 2013, 02:28:24 PM »
I see the same thing.  The number of loans doesn't change much, however, the markup has been significantly increased over last couple of weeks.

SarahV

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Re: where have all the good (folio) notes gone..?
« Reply #4 on: April 15, 2013, 10:31:26 PM »
I've had a hard time finding stuff too, and almost everything I find that fits my criteria are 60-month C-grade loans, for some reason. I have 7 different searches set up on Interest Radar...

GS

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Re: where have all the good (folio) notes gone..?
« Reply #5 on: April 16, 2013, 03:24:17 PM »
I'm new to this, but I've browsed FolioFN and it all appears to be loans with steep mark-ups or loans with payment issues.  I was going to see if I could purchase something there as my first round of payments started rolling in, but it all looks like junk to me.  Why in the world would FolioFN allow people to post notes with negative YTM?  There are currently 6000+ loans posted with negative YTM.  They should at least you give the users the option to block those postings, or better yet, make that the default option.

mhvu

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Re: where have all the good (folio) notes gone..?
« Reply #6 on: April 16, 2013, 04:29:02 PM »
Here is my theory and it has something to do with institutional lenders.

Fact: Institutional Lenders snap up as many loan that match their criteria as possible
Result in: Number of loan available to purchase note decrease in LC (As of now, the total available loan in LC is 82)

If there is less loan to purchase, people is a bit hesitate to sell their notes

Fact: Institutional Lenders play by big money, big number so they will not set their default purchase note at $25
Result in: When they sell note in Folio after 3 or 4 months to get their fund and maximum interest, or when note go into default/grace period, most Folio users will not see these notes with their criteria (selling price is well above $25)






Fred

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Re: where have all the good (folio) notes gone..?
« Reply #7 on: April 17, 2013, 08:57:03 AM »
I have a confession to make: I used to put my LC notes on sale on FOLIOfn, but I am not doing it any more.

The 2 main reasons:
- it's a highly manual work; you really have to do it one-by-one.
- the for-sale notes got cancelled due to payments; while this might be necessary, it is still cumbersome to put the notes back on sale with new prices.

Imagine trying to find and sell 100 notes on FOLIOfn.  This would probably require 3 hours/week to do.  With 3% mark-up minus 1% FOLIOfn fee, this would give your only about $50 profit if all notes got sold, while in the meantime you forgo future cash flows on the notes.


Show Me The $

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Re: where have all the good (folio) notes gone..?
« Reply #8 on: April 17, 2013, 09:41:58 AM »
An unrelated question on Foliofn. I have sold a grand total of ONE note to date and bought 1 note (that I promised a friend I would buy) I dont buy, as I can buy in my state (fl)

Why are there SO many negative YTM notes on the platform. What am I missing???

mhvu

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Re: where have all the good (folio) notes gone..?
« Reply #9 on: April 17, 2013, 11:55:35 AM »
I have a confession to make: I used to put my LC notes on sale on FOLIOfn, but I am not doing it any more.

The 2 main reasons:
- it's a highly manual work; you really have to do it one-by-one.
- the for-sale notes got cancelled due to payments; while this might be necessary, it is still cumbersome to put the notes back on sale with new prices.

Imagine trying to find and sell 100 notes on FOLIOfn.  This would probably require 3 hours/week to do.  With 3% mark-up minus 1% FOLIOfn fee, this would give your only about $50 profit if all notes got sold, while in the meantime you forgo future cash flows on the notes.

3 hours/week to reset the price of FolioN?

PM me if you want  to setup an automated script to do it in 5 seconds.

SeanMcD

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Re: where have all the good (folio) notes gone..?
« Reply #10 on: April 17, 2013, 12:23:55 PM »
I have a confession to make: I used to put my LC notes on sale on FOLIOfn, but I am not doing it any more.

The 2 main reasons:
- it's a highly manual work; you really have to do it one-by-one.
- the for-sale notes got cancelled due to payments; while this might be necessary, it is still cumbersome to put the notes back on sale with new prices.

Imagine trying to find and sell 100 notes on FOLIOfn.  This would probably require 3 hours/week to do.  With 3% mark-up minus 1% FOLIOfn fee, this would give your only about $50 profit if all notes got sold, while in the meantime you forgo future cash flows on the notes.

Put the notes you want to sell in a separate portfolio.  That way it's easy to find them again when they cancel.  After that, there are several tools available to quickly set prices in batches.  Interest Radar has a new feature in beta to help with this, yoyojack has created a very handy GreaseMonkey script for annotating and pricing notes, and it sounds like mhvu has something similar.

Show Me The $

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Re: where have all the good (folio) notes gone..?
« Reply #11 on: April 17, 2013, 01:30:04 PM »
I have a confession to make: I used to put my LC notes on sale on FOLIOfn, but I am not doing it any more.

The 2 main reasons:
- it's a highly manual work; you really have to do it one-by-one.
- the for-sale notes got cancelled due to payments; while this might be necessary, it is still cumbersome to put the notes back on sale with new prices.

Imagine trying to find and sell 100 notes on FOLIOfn.  This would probably require 3 hours/week to do.  With 3% mark-up minus 1% FOLIOfn fee, this would give your only about $50 profit if all notes got sold, while in the meantime you forgo future cash flows on the notes.

3 hours/week to reset the price of FolioN?

PM me if you want  to setup an automated script to do it in 5 seconds.

How do beginners start to use scripts in general???

Fred

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Re: where have all the good (folio) notes gone..?
« Reply #12 on: April 17, 2013, 02:14:23 PM »
3 hours/week to reset the price of FolioN?

3 hours/week was for setup and maintenance to put LC notes on FOLIOfn. 

I have 1200+ LC Notes, and I evaluate which ones to put on FOLIOfn.  I used to be diligent in identifying and keeping 5% of my LC notes to FOLIOfn.  However, not anymore.

Yes, I do setup Portfolios for all notes to be put on FOLIOfn; this greatly helps.

It's just that, personally, the reward is not that appealing.

lender_john

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Re: where have all the good (folio) notes gone..?
« Reply #13 on: April 17, 2013, 03:09:35 PM »

Finally, I picked up about 20 notes earlier today.

Better than nothing, but the lack of notes on folio is making me doubt my plans for another IRA contribution.

Zach

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Re: where have all the good (folio) notes gone..?
« Reply #14 on: April 17, 2013, 03:11:13 PM »
I have a confession to make: I used to put my LC notes on sale on FOLIOfn, but I am not doing it any more.

The 2 main reasons:
- it's a highly manual work; you really have to do it one-by-one.
- the for-sale notes got cancelled due to payments; while this might be necessary, it is still cumbersome to put the notes back on sale with new prices.

Imagine trying to find and sell 100 notes on FOLIOfn.  This would probably require 3 hours/week to do.  With 3% mark-up minus 1% FOLIOfn fee, this would give your only about $50 profit if all notes got sold, while in the meantime you forgo future cash flows on the notes.

3 hours/week to reset the price of FolioN?

PM me if you want  to setup an automated script to do it in 5 seconds.

How do beginners start to use scripts in general???

Download Tamper Money or Grease Monkey browser extensions and search for Lendingclub.

You should find Yoyojak's script. It adds some very nice functionality to LC's website. Interest Radar is also a great solution, but I'm waiting to see some improvements to the auto-sell tool.