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Topics - muflafler

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Over the past few years I’ve moved to only investing in notes purchased on the secondary market.  My returns have been far in excess of my returns on my primary market notes.  I’ve found it is much better to be willing to pay a premium for notes that have paid on time for at least several months and have a rising FICO trend than to pay face value for primary market notes.  Losing 1%-3% of my purchase price when a note prepays is nothing compared to losing 100% when a note defaults, so I am simply trying to minimize my default rate and am not too worried about paying a premium.

I can see from my own returns that my secondary market strategy has been far superior to the primary market, but I was wondering if there are any tools out there that would allow a more scientific evaluation of it.  AFAIK, tools like NSR only allow you to see stats over the whole  life of a note, beginning at origination.  What I would love to see is something where you could mine the data from various points in a note’s life.  E.g., “what is the average default rate for 36 month notes with a FICO of X and that have already made Y months of on-time payments?” 

Is there anything out there that could help me with that kind of analysis? 

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Foliofn - LC / Folio site is down?
« on: January 31, 2018, 05:37:49 PM »
The site has been crashing for me all day, every time I click 'Apply' to run a filter on the secondary market, I get the message "Internal Server Error - Read."  Looks like the site works and I'd be able to purchase notes, I just can't narrow it down at all from the approximately 310,000 notes that are listed  :-\.  Is this happening for everyone else too?

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Investors - LC / Santander exiting Personal Lending Business
« on: October 29, 2015, 01:23:50 PM »
Santander, which currently has an agreement with LC to purchase up to 25% of LC's total loan originations, announced today in their quarterly earnings report that they will be completely exiting the personal lending business and putting all their existing personal loan assets up for sale.

The 25% was a cap, not a target, and I'm not sure if LC had disclosed the % that Santander actually purchased.  Presumably, all of the loans purchased by Santander had been purchased in the whole-loan market. 

What this means for us it seems, is that up to 25% of LC's total loan originations, which had previously not been offered on the regular platform, will now be offered on the platform and will
be available to individual investors.

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Investors - LC / "Credit for Ineligible Loan"
« on: November 06, 2014, 09:32:27 AM »
I had several transactions show up today, "Credit for Ineligible Loan."  Does anyone know what is going on when this happens?  The Account Activity page does not show the loan number or any other data, just this:


11/06/14   Transfer   Credit for ineligible loan   $24.44

I had 8 of these show up today, I've never seen it before.

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