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Messages - New Jersey Guy

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1
Interest Radar / Re: What features do you still use on IR?
« on: August 04, 2018, 09:24:20 AM »
The Analysis Page.  I have several strategies saved to that section.  None pull up any results anymore.

2
Interest Radar / Re: Is Interest Radar still active
« on: July 26, 2018, 08:54:23 AM »
I just tried to use it.  I was able to log in.  However, none of the functions appear to work correctly.  I was not able to pull up any loans on any of my filters.  The link to Blue Investment turned up a blank page.

3
Investors - LC / Here's a new one for Log Entries.
« on: July 01, 2014, 12:26:33 AM »
Hey, at least he's being up-front and not making promises he won't keep.

6/25/14 (Wednesday)    Borrower contacted Lending Club and refuses to pay

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=5970124&order_id=21036610&note_id=26267180

4
Quote
he Dodge Avenger is not exactly a cheap car. Yet the average buyer has a subprime credit score.

Slightly incorrect.  The Avenger SE has an average sticker price of about $22K.  The Chrysler 200 just a tad above that.  Both the Chrysler 200 and Avenger have had historically high rebates upwards of $4000.  Most subprime buyers have little or no money to put down, and banks won't approve them on say a used car that might be only 1 year old.  They will finance them on a new car, and both the Avenger and 200 are perfect "Payment" cars that make both the bank and buyer happy. 

5
Investors - LC / Re: Borrower engage with debt consolidator
« on: June 13, 2014, 09:49:17 AM »
I thought debt consolidator would contact all the creditors and negotiate a lower payment.  Then they roll it up into one payment making it easier for the borrower to pay.  The lower, single payment is made to the consultation agency, not the creditors.  The agency then splits the money up and pays each individual creditor.

It certainly does not show the borrowers ability to pay, as they would otherwise not need this program.  So, it is an indication of trouble.  But it's also an indication that the borrower is attempting to avoid the bankruptcy route.

6
Ryan is right.  This is a (very) part-time job, nothing more than a sideline.

I don't do it every day.  Sometimes only once per week.  Or, when my idle cash is getting a little too high.  Or, when I can't find anything else worth buying. Or, when Ryan emails me and tells me somebody just dumped some good notes!

Interest Radar works best with this, as it has a "Discard" feature that will black mark notes you already looked at.  Unlike the Folio platform, you won't be looking at the same notes over and over again.  Plus, you can set up some filters if you wish, to narrow your results.

And he's also right about owning larger notes.  You can filter $50 notes and higher.  Typically, a $100 note will run you about $50.  I have (or had) a few $100 notes.

I purchased https://www.lendingclub.com/account/loanPerf.action?loan_id=1350565&order_id=2914637&note_id=11536239

$100 Note purchased at a 2.5% discount for $39.63:  YTM with the discount will be $14.4%
Steady 680 FICO
Good pay history
What's not to like?



7
Foliofn - LC / Re: someone is dumping current notes at -20% discount
« on: June 11, 2014, 10:36:55 AM »
This happens occasionally.  Sometimes it's because somebody might be trying to liquidate their account quickly.  Could be a change in strategy, and those notes don't fit.  Could be because those notes no longer fit the investors criteria.  Lot's of different reasons.

Hey, one mans garbage is another mans treasure.

8
Investors - LC / Re: Call from Lending Club
« on: June 11, 2014, 10:26:42 AM »
Quote
I bet my account isn't large enough for this type of phone call

LOL!  Same here!  They'd lose money in the long distance charges.

9
Introductions / Re: Looking for Newbie Info
« on: June 06, 2014, 09:00:52 AM »

10
Quote
Assistant manager?

No Rawraw.  This guy is definitely an ass manager.  And I don't think it's donkeys. 

DanB does porn.  I guess he's technically an ass manager.  Ask him.  I'll bet ya he says yes.

11
I can think of worse positions with a job title like that. 

12
Foliofn - LC / Re: How will the IPO effect the secondary market?
« on: May 28, 2014, 04:32:44 PM »
Quote
Of course, to say anything useful about what might happen, we'd need to know the proportions of the various kinds of Folio transactions being made by Folio-only investors.  And I have no clue about that distribution.

That has no bearing on anything!
The nice thing about Folio is that it is for every kind of investor.  You can be a super conservative "A" Grade-Only Type Guy down to a $1.00 speculator.  Folio is a big, mixed bag of nuts with a little bit for everybody. 

So why don't people gt off their butts and look more closely at Folio?  Core said it best in one of his previous posts:

I have never understood why people insist on participating in the 4x daily rat race.  Besides psychological issues, the only answer I can come up with is that people's usual filters and tools do not work the same for Folio and they are unwilling to do anything different from what they've always done.  They'd rather set their alarm clocks each day for eternity than spend some time learning something new.

Living in New Jersey I had no choice.  I was forced to learn Folio.  Now that I'm in Florida, I can shop Lending Club until I drop.  I know how to use it.  I still haven't bought a note off of Lending Club.  Buying notes off of Folio has its advantages.

Read my blog from last June.  Folio investors are not second class citizens.
http://www.lendacademy.com/foliofn-lending-club-users/


13
Investors - LC / Re: Daily Note Price History
« on: May 28, 2014, 12:22:58 PM »
    1.)  they expire after being listed for 6 or so days, this is an issue because the note never sold, so it will totally mess up your datat
    2.)  they were sold, but there isn't away to distinguish from above
    3.)  they were removed by the seller, wow I way over priced that note, let me relist it
    4.)  they were removed by LC for getting a payment, which you only know about if you were either the buyer or the seller

That's correct.  IR cannot distinguish between a note getting sold and one that a seller cancelled for whatever reason.

Here are some tips to help identify the sales from the BS.  I'll address the points above.

#1 and #2  If the note shows up in IR as sold, but was listed for 6 days, count on it being expired.  A sold note will generally have a listing time of 0 to 5 days.

#3  The seller removed the listing.  Another easy discovery.  Just look back up to the list of notes for sale and see if that one is relisted.

4.)  "Canceled for Payment."  This is simple also.  Unless there was only 1 note for sale, all notes expire the exact, same time.  So, if you see like 5, 7,or 15 notes that all appeared to have been sold on the same, exact day, that's the day they were all cancelled for payment.

Another way to confirm this is that you will see many of the same notes relisted once they come out of their payment process.

It takes a little practice.  However, once you get the hang of working with IR, you'll be able to glance over that list of sold notes and know which ones were really sales without hardly thinking about it.


14
Foliofn - LC / Re: How will the IPO effect the secondary market?
« on: May 28, 2014, 12:09:13 PM »
Quote
The secondary market is going to have to change.  It's the most antiquated part of this whole thing

It's better than what it used to be.  However, if you're looking for more filters and better features, you need to stay with the 3rd party sites.  I mean, if the Lending Club Platform was truly so wonderful, you wouldn't be using NSR, Interest Radar, P2P-Picks, Lending Robot and all the other sites available.

Interest Radar still gets a 9.7/10 for managing Folio.  Even if Folio did a massive, ground shattering make-over this month, it would still be hard-pressed to match the flexibility of Interest Radar.


15
Foliofn - LC / Re: How will the IPO effect the secondary market?
« on: May 27, 2014, 11:58:35 PM »
Quote
will demand for loans listed on Folio go down?

What you're really asking is:  "When all states can buy 'Notes in Funding' off of LC cause the demand for notes on Folio to go down?"

This is a real head-scratcher.  LC can't sell issued notes, and everybody is aware of the everyday problems faced when trying to invest in Notes-in-Funding.  Besides getting them, you still face the problem of tying your money up for weeks just to have the note never issue.

I think at first it might make a difference.  But it's like a new toy.  When people get tired of playing with it, they'll slowly start going back to Folio.  Remember, it's still possible to purchase a freshly issued note off of Folio for a 1/2% or 1% discount.  You can buy it today, and have it in your account tomorrow.  No waiting.  Try doing that off of Lending Club.




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