Author Topic: Value of notes beyond 120 days late  (Read 328 times)

latitude42

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Value of notes beyond 120 days late
« on: July 25, 2020, 01:00:14 PM »
Looking for anecdotal values of notes beyond 120 days late. For example maybe 50% are worth $0, 25% sell for 5-10% of outstanding principal, etc.
« Last Edit: July 25, 2020, 01:03:24 PM by latitude42 »

AnilG

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Re: Value of notes beyond 120 days late
« Reply #1 on: July 26, 2020, 11:30:19 PM »
My old blogpost might give you some idea.

Lending Club FOLIOfn Secondary Market: Penny Note Strategy based on Lowest Ask Price
https://www.peercube.com/blog/post/lending-club-foliofn-secondary-market-penny-note-strategy-based-on-lowest-ask-price

Looking for anecdotal values of notes beyond 120 days late. For example maybe 50% are worth $0, 25% sell for 5-10% of outstanding principal, etc.
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macroman7799

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Re: Value of notes beyond 120 days late
« Reply #2 on: August 07, 2020, 09:49:33 PM »
I have not done a study but I have been listing these on the secondary portal for 10-20% of face value and am happy when they sell. I wouldn't go lower than that because these notes occasionally come back and will commonly sell for about 10% of face in a debt sale.

FYI- the folio portal is about to close with last trade 8/26 and final settlement 8/27. When the same thing happened at Prosper I picked up some nice bargains on the secondary market as a lot of people were willing to give a good discount to get their money out.