Lend Academy Network Forum

Lending Club Discussion => Investors - LC => Topic started by: yojoakak on November 06, 2012, 10:00:36 PM

Title: ...
Post by: yojoakak on November 06, 2012, 10:00:36 PM
...
Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: MTaylor on November 07, 2012, 02:14:20 AM
Yes, I've described this problem a couple of times in the other threads. Folio has not been updating incoming payments for several days, resulting in notes being displayed for the wrong price and markup, making them look more attractively priced than they are. I imagine it's going to blow up at some point.
Title: ...
Post by: yojoakak on November 07, 2012, 08:20:33 AM
...
Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: MTaylor on November 07, 2012, 11:02:36 AM
You have to go into the "browse notes" view and try to look up one of your own notes that's received a payment in the last few days, and look for the discrepancies. Tedious and time-consuming. Folio should have a filter to show only your own notes as they appear on the platform.
Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: Blake on November 07, 2012, 12:56:27 PM
I have a note like this as well currently.  Shows I'm selling it at a discount and that the note is IN GRACE PERIOD, when I'm actually selling at a premium and it's CURRENT. 

I have had major FOLIO issues in the past that cost me money.  Lending Club has told me don't plan on FOLIO working the way you want it to, because it won't.  Lending Club is responsible though, for the problems FOLIO is having, from what I understand.

Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: FrankieC on November 07, 2012, 09:40:16 PM
Has this always been this bad? I'm also seeing what you guys are reporting, notes showing completely outdated status and principal. I never noticed it being this bad until this week, but I'm a light Folio user.
Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: SarahV on November 07, 2012, 11:15:32 PM
Responses I've gotten on the FolioFN problems this week include:
"Thank for your comments and your patience. These are known issues that we are currently working to resolve."
and
"Our Investor Services team prides themselves in providing superior service and support. You can contact them directly at investing@lendingclub.com."

Neither of which answered the specific comments and questions I had.

I can't really roll my eyes hard enough to convey my feeling about that kind of customer service response.

If anyone has a decent rep/contact at LC maybe you could point them towards this forum so they can see people are fed up with the lack of a fix and the lack of information? I haven't bought a note since the 1st and no one has bought any of my notes either. It's basically shut my trading down completely.
Title: Re: Crazy sales on Foliofn. What would cause them?
Post by: Blake on November 08, 2012, 01:41:26 AM
Sarah it does get bad, and I would suggest that you keep calling and asking for escalation.  I have dealt with the same feelings you have had in the past and frankly have not been impressed with the service.

It doesn't mean I don't like LC and it doesn't mean I don't try to be patient--I think they are doing what it takes to grow as a company.

But the more we express the frustration the sooner things will change...hopefully.
Title: Re: ...
Post by: SeanMcD on November 08, 2012, 03:35:24 PM
I sent mail to my rep and he responded that it was the first he'd heard of the issue.  Not particularly promising.  However, it appears that LC is currently down for maintenance, so maybe the issue is being addressed.