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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by mark78 on Today at 05:04:59 PM »
It's still not clear to me whether US citizens living overseas (military, contractors, expats) can invest in Folio.
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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by Fred93 on Today at 04:29:22 PM »
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Alaska, New Mexico, North Carolina, Pennsylvania: Residents are unable to purchase LendingClub Notes on the primary market. However, they are permitted to buy and sell LendingClub Notes on the Folio Investing* Note Trading Platform.

So the guys who can trade on the secondary market but not the primary market are just three states.

I count four?

Thank you.
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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by mrwhizzard on Today at 01:47:44 PM »
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Alaska, New Mexico, North Carolina, Pennsylvania: Residents are unable to purchase LendingClub Notes on the primary market. However, they are permitted to buy and sell LendingClub Notes on the Folio Investing* Note Trading Platform.

So the guys who can trade on the secondary market but not the primary market are just three states.

I count four?
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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by Fred93 on Today at 04:50:39 AM »
No restrictions on the secondary market.  Doesn't matter where you live.

Can you please provide a reference for this? I see https://www.lendingmemo.com/how-to-invest-folio-lending-club/ says the secondary market is open to certain states in addition to the those open to the primary market, but that's still not "no restrictions". Furthermore, what about US citizens living overseas, who do not live in a state (military, contractors, expats, etc)?

The info is in the LC help section...

https://help.lendingclub.com/hc/en-us/articles/216092957-What-are-the-current-State-and-Financial-Suitability-conditions-
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Alaska, New Mexico, North Carolina, Pennsylvania: Residents are unable to purchase LendingClub Notes on the primary market. However, they are permitted to buy and sell LendingClub Notes on the Folio Investing* Note Trading Platform.

So the guys who can trade on the secondary market but not the primary market are just four states.

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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by mark78 on Today at 04:12:10 AM »
No restrictions on the secondary market.  Doesn't matter where you live.

Can you please provide a reference for this? I see https://www.lendingmemo.com/how-to-invest-folio-lending-club/ says the secondary market is open to certain states in addition to the those open to the primary market, but that's still not "no restrictions". Furthermore, what about US citizens living overseas, who do not live in a state (military, contractors, expats, etc)?
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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by SBryantMS on August 19, 2018, 11:59:01 AM »
No restrictions on the secondary market.  Doesn't matter where you live.

I originally bought Folio notes until I figured out how to virtually relocate to a state where I could buy new notes.
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Foliofn - LC / Re: Looking to buy Historic Folio data
« Last post by rawraw on August 18, 2018, 04:14:03 PM »
Another explanation might be that there are some investors that still can't access the platforms directly.  State security laws prevent investors in many states from investing directly in the marketplace lending platforms (Prosper/LC).  So if those investors want exposure to these notes, they have to go to the secondary market.  I think there may be investors flipping notes from the primary market to the secondary market at a small premium and excluded investors would be glad to take such notes.  Right now we're trying to find some anecdotes of people doing this (any suggestions here would be great).

I understand your theory, but how would these investors from a restricted state get access to the secondary market?  Does LC give them an account?
Yea,they can create an account and buy loans. Just can't originate
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Investors - LC / Re: Good Loan Hanging Around
« Last post by Rob L on August 18, 2018, 09:15:36 AM »
The 3 inquires will scare off most people.
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Investors - LC / Good Loan Hanging Around
« Last post by RomanLegend on August 18, 2018, 03:32:27 AM »
My software (www.lcpicks.com) spit out this loan that seems to be only 63% funded.  Check it out and let me know what you think.  Good return, good DTI, low payment.  Tell me what you guys think...
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General P2P Lending Discussion / Re: Liquidity when investing in P2P loans
« Last post by lascott on August 18, 2018, 01:58:10 AM »
If you're concerned about the liquidity challenges of P2P investing, I would suggest you check out LiquidP2P.com.

Liquid P2P is the newest automated software solution for Lending Club Investors. 

Our patent-pending Liquid Match model harnesses the power of the group to fuel our investing and liquidation processes. As we continuously invest your funds, we automatically match Liquid P2P buyers and sellers first in an effort to boost returns and accelerate liquidity.

See how it works. We would love to hear what investors out there think!
I'm a little concerned how this fair price is calculated. Also the 'Learn More' link is bad.



UPDATE: This is what I found in the website FAQ.
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What is fair pricing?
When trading notes directly between users, we want to treat both sides of the transaction fairly. To do so, we calculate a fair price for the note that ensures both the seller and buyer get the same yield.

Although it is common practice to price secondary market notes at par (the outstanding balance), doing so can result in the buyer getting a lower yield than the seller. This is partly due to the negative impact Lending Club's 1% investor fee has on the return of a maturing note.

To determine the fair price for a specific note, we use the standard bond-pricing formula as well as an algorithm knows as Newton's model. We first calculate the yield to maturity (YTM) for a newly originated loan of the same grade on the primary market, then we use this YTM to calculate the transaction price.

The price is fair because it ensures both the seller and the buyer receive a yield equal to the current YTM on the primary market.
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