Author Topic: IR01 and IR04 scores for issued notes on FolioFN  (Read 1670 times)

jsmathur

  • Jr. Member
  • **
  • Posts: 68
    • View Profile
IR01 and IR04 scores for issued notes on FolioFN
« on: August 17, 2013, 06:03:35 PM »
Rev (or anyone who knows the answers),

 2 quick questions:

1.  Is the IRO1 and IR04 scores for listed notes for sale on FolioFN reflecting the scores of these notes at the time of their original issuance, or do these scores also in some way reflect their performance since the original issuance?  I think the answer is the former, but I wanted to check with you first.

2. I'm going to start purchasing some notes on folioFN to keep my cash balance invested, given the very low original-issue loan volume lately. In the custom filters, I don't see any filter for excluding loans on folioFN that have ever had a late payment. I see a filter for excluding loans that have ever been over 120 days late, but this is different. Can you explain how I can create a strategy for purchasing folioFN notes that excludes notes that have ever had a late payment since issuance?  Thanks.

edward

  • Full Member
  • ***
  • Posts: 195
    • View Profile
Re: IR01 and IR04 scores for issued notes on FolioFN
« Reply #1 on: August 17, 2013, 10:44:18 PM »
I'll let Rev confirm, but I believe the IR01/IR04 score is based on the original note and is not updated after original issue. Because they are based on the credit history information, and since LC doesn't release updated credit history, it would seem that it must be that way. I believe Rev is working on a new IR05 which will be a rating based on payment history, so when he releases that upgrade, that will certainly be of great value.

There is a Folio filter on IR for "not late for 180 days", and Rev has remarked that that's the best he can do for now. Perhaps as he develops longer term independent history, he may one day be able to improve on that. Your only other choice will be to use the actual Folio filter for "never late."

I've moved to Folio only investing by choice, and you will want to read New Jersey Guy's excellent forum posts on Folio investing. I would consider them required reading before heading into Folio land.

Here's NJG's guest post. Really informative.
http://www.lendacademy.com/foliofn-lending-club-users/
« Last Edit: August 18, 2013, 12:01:34 AM by edward »