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Messages - mark78

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1
Keep turning down those prices.  I see my computer is buying a lot of notes on folio today.

Probably me. I sold 2000 notes in the past 24 hours to raise cash to buy depressed stocks. Some of the notes would have sold at a 1-8% markup a few weeks ago, but browsing current notes it became apparent that's no longer true, so I dumped them at face value. I probably could have done a little better, but I got my cash.

It's interesting that while the stock market has dropped 30%, notes for low-grade consumer debt are only down a few percent. I don't know if that's rational, or because any new risk hasn't been factored in yet, or because of the upcoming government funding.

2
Investors - LC / Re: LC Retail Loan Volume
« on: February 19, 2020, 05:57:35 PM »
the Q4 investor presentation shows a consistent decline in the % of $-originations allocated to the retail channel throughout every quarter of 2019.

is the end of the retail channel near?

I only trade on the secondary market and am trying to see how much volume will be coming down the pipes in the next few years. The graphic shows the mix for 2019- Self-directed Investors volume is down to $103M, down from around $250M per quarter in 2017. Is it safe to assume that only Self-directed Investors will list notes on the secondary market? Or do the other categories also contribute to secondary market volume?




3
Foliofn - LC / Re: folio loan model prices
« on: February 17, 2020, 07:11:10 PM »
This could be interesting if there were additional columns with key parameters. I would suggest interest rate, term, payments made, and credit trend (or change in fico since origination, if you database that).

4
Foliofn - LC / Re: Getting data for one's own sold notes
« on: January 20, 2020, 04:18:26 PM »
Yes, the traded notes csv is exactly what I need. Don't know how I missed it. Thanks.

5
Foliofn - LC / Getting data for one's own sold notes
« on: January 20, 2020, 03:08:39 AM »
I know price models have been discussed before, for example:

https://forum.lendacademy.com/index.php/topic,21586.0.html
https://forum.lendacademy.com/index.php/topic,4824.0.html
https://forum.lendacademy.com/index.php/topic,4849.0.html

And as Fred93 said at https://forum.lendacademy.com/index.php?topic=4455.0:
"
There's no reporting of transaction prices on Folio, so you have to discover for yourself what prices buyers will pay.

The fact that there is no transaction price data on the folio Marketplace is one of its greatest failings IMHO.  Whoever heard of a market with no historical price information?
"

I have sold enough notes that I could discover for myself what prices buyers will pay. But that involves a lot of clicking- My Account, Sold This Month, click on current, and write down the details. Is there not an API to get your sold notes, including the grade, interest rate, payments made, etc? Or a way to download it?

6
>   I've monitored the traded note for a day, only a few hundreds traded a day.

How do you monitor traded notes?

7
Investors - LC / Re: Other Investment Options at Strata
« on: August 30, 2019, 07:49:16 PM »

I was wondering what other "non-standard" investment options people have used.

thanks!

PeerStreet is one option. Sortis Income Fund is another, if youíre accredited.

9
Investors - LC / LLC to get around state restrictions?
« on: April 02, 2019, 11:03:14 PM »
I've been receiving emails from LC about their "Additional Account Types", e.g. corporate accounts. Couldn't an investor living in a restricted state set up an LLC in a permitted state and invest that way? And I assume that would apply to the secondary market as well as new loans?

The last discussion of this on the forum was way back in 2014.

This page says:

Corporate account
---------------------
An account opened in the name of a corporation or LLC. This type of account can be controlled by an authorized representative of the corporation. If you would like to open an account in the name of a corporation, please contact Investor Services at 1-888-596-3159 or investing@lendingclub.com


10
Investors - LC / Re: Additional Statistics Payment File Down
« on: March 28, 2019, 04:12:08 AM »
Now that I'm back to civilization, meaning a real internet connection, I looked at the other big file, and it seems to have the level of detail I want. At https://www.lendingclub.com/company/additional-statistics, there are two big files. The first one- "Payments made to investors"- is just a monthly aggregate like you guys said. But the second- "All payments (includes payments made to investors and to LendingClub)"- has each payment, along with status including IGPs and sometimes multiple payments in a month.

Agreed there's no time to scrape in 10 milliseconds, but doesn't this file do the job? I haven't databased it yet, just eyeballing it in Excel. My only complaint is the dates are rounded to the month (as Fred93 already said in another thread).

11
Investors - LC / Re: Additional Statistics Payment File Down
« on: March 26, 2019, 06:07:04 AM »
Thanks guys, that makes sense. So the payments history file may be useful for modeling, but not for my use case. If a note comes up for sale which is not never-late (i.e. it has been late), and I want to know the late payment history, including IGPs and late-15-days, then the only way I can see is to screen-scrape https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=X&order_id=Y&note_id=Z, which I believe is against the terms and conditions.

12
Investors - LC / Re: Additional Statistics Payment File Down
« on: March 26, 2019, 01:48:45 AM »
I've just started using the additional statistics in my automated buying, and the first such note I bought was an epic fail.

I databased the additional statistics "payments made to investors" file. For Loan ID 68447465, the additional statistics file said it was late just once, many months ago. So when a note for that loan came up for sale at a good discount, my app bought it.

After my app bought the note, I manually inspected the payment history at https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=68447465&order_id=96430784&note_id=109387362. This shows a completely different story- the loan has been late not once but three times, plus many IGPs that were not in the additional statistics.

The data integrity looks ok, nothing funny with encoding, etc. Has anyone verified the additional statistics matches the payment history on the Folio site?


13
I checked the api and csv and agree those do seem to show all the notes, so itís just the web interface that doesnít show them.

Sorry to have hijacked this thread. For future visitors, this discussion about whether notes are browsable has little to do with Liquid P2P, and it would affect any note seller in the same way.

14

Quote
What I think mark78  meant is that the notes are not showing up on the 'Browse Notes' web interface.  When listing notes they sometimes show up and sometimes don't.  In my experience all notes will show up when you search for them with the api or if you look in SecondaryMarketAllNotes.csv but getting them to show up on the web interface is a struggle.  Have you found a way around this?

That is what I meant. Interesting though if they do show in the API and csv. I haven't checked that.

15
I find it works to add two figures from the LC Holdings page: Account Total + Pending Settlement. However I only buy on the secondary market. I don't know whether this would work if you buy on the primary market or sell on the secondary market.

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