Can't sell notes in folio, Lending Club trading platform?

[Lovinglifestyle]

Where my selling price kicks in for lates:

16+  days late:  -70%
31+  days late:  -90%

That's exactly my experience too.  Although I mark down each day until they are gone.  Right now I have no interest in babysitting bad notes.  Someone else can have them.  Sometimes I get 31+ day late ones gone at -80% or -85% but most go at -90%.

Same here.  My tolerance level tanked last month when for the first time my stacked up lates cost more to sell than I earned in interest.
Now these are finding new homes too:

Graces:  -25% (and on by the day to -50% until the last one may go at -70%)

Until recently the graces went current fast enough and often enough to not bother with them.  Now they don't.  I experimented with selling current low Fico scores about 10 days ago (not at a loss).  Those were too much work to list, so I quit that.

[rawraw]

Do you guys ever think you may be reducing your return by avoiding defaults?  May be a psychological discomfort vs an actual financial one.

[thezfunk]

Do you guys ever think you may be reducing your return by avoiding defaults?  May be a psychological discomfort vs an actual financial one.

That totally could be the case.  I was just alarmed by the increasing number of defaults and how that was hitting my returns so I figured I would try going full 'retard' on the bad ones and the low and dropping FICO score notes and see what happens.  I am basically in the middle of an experiment at this point.

I went from never using Folio to being on it almost every day.  I am still learning the ropes when it comes to the secondary market.

[rawraw]

My point of view is your waiting too long. Identify notes that are having serious fico drops but still current. You get better pricing. I normally still make a 8 percent or so cash return on original investment and greatly reduce the defaults I experience

[thezfunk]

My point of view is your waiting too long. Identify notes that are having serious fico drops but still current. You get better pricing. I normally still make a 8 percent or so cash return on original investment and greatly reduce the defaults I experience

Oh I totally see the light on that one.  It was just getting to that point I had to start shoveling out the crap first and now I am to the point of getting out ahead of the bad ones before they go bad.  I have a bunch of current ones up on Folio now with all the late ones gone.  It sure hurt getting $1-$2 for a $25 note that had no payments, at all.  I think I had at least two of those.

[Fred]

I found a couple beauty's last week. Someone was selling all their $25 newly late 16+ days notes for $10 even. I bought 2 that had 2 or 3 on time payments and otherwise looked good and both came current within the week.

My recent beauty was this note (https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=9216384&order_id=37622118&note_id=35249270) which I bought at $6.00 on 9/15, and sold at $12.13 on 9/16 -- 102% gain in one day!

[rawraw]

My record was  buying a $2.00 note on Folio and receiving 24 dollars worth of payments until it defaulted.

[DanB]

My Folio record was buying a $480 odd note that was 31 + late for under $2.  Due to nothing other than sheer good luck (I'm sure)    the note went back to current the day after my purchase settled. I then sold it 2 days later for $445 or so. 
 
This was around a year ago when I was having highly charged discussions with Core on a regular basis & felt that I needed to better understand predatory behaviour. What better way to understand that than to become one for a  while, right? Of course I would never be bold enough to compare my amateur forays into the world of predators to what I can only imagine is the consistent evisceration that a true predator like Core exacts on some of you traders. 

[core]

Of course I would never be bold enough to compare my amateur forays into the world of predators to what I can only imagine is the consistent evisceration that a true predator like Core exacts on some of you traders. 

Dan, I had to check the timestamp on this post 3 times to be sure.  2014, check.  September 17th, also check.  This seems like a page out of your playbook from the days of yesteryear. 

Have you given up on verbally assaulting Peter and LendingClub already?  Here I was just getting interested again.  Who are you working for today???

Your timing in resurrecting this old front is suspect, given the other thread in progress.  I for one do not believe in coincidences.  Dan, it does not matter that my return over deposits is over 3000.00%.  I earned every penny of that, and continue to earn what I do make. 

The word predator is misleading at best, and you know that.  Every person here is preying upon someone.  The real predators are in their quiet period now.  The serpent is quiet before he strikes!

[DanB]

Of course I would never be bold enough to compare my amateur forays into the world of predators to what I can only imagine is the consistent evisceration that a true predator like Core exacts on some of you traders. 

Dan, I had to check the timestamp on this post 3 times to be sure. 2014, check.  September 17th, also check.  This seems like a page out of your playbook from the days of yesteryear.

Have you given up on verbally assaulting Peter and LendingClub already?  Here I was just getting interested again.  Who are you working for today???

Your timing in resurrecting this old front is suspect, given the other thread in progress.  I for one do not believe in coincidences.  Dan, it does not matter that my return over deposits is over 3000.00%.  I earned every penny of that, and continue to earn what I do make. 

The word predator is misleading at best, and you know that. Every person here is preying upon someone.  The real predators are in their quiet period now.  The serpent is quiet before he strikes!

I'm not even sure what that refers to, so all I can say is that until the defense shows that it knows how to stop it, it's wise to periodically run the same plays.

I call them fair comment. What you playfully refer to as verbally assaulting is obviously not................since a verbal assault is considered a personal attack, which we know to be forbidden here. Obviously you didn't read yesterdays New Zealand comments in the main blog area if you think I've been dormant.

Speak for yourself. I've not been preying on anyone here recently! Oh wait, never mind.
The real predators you speak of can only be successful if enough of their potential prey deliver themselves to the slaughter through ignorance, complacency or a failure to resist. Their salami slice predatory tactics require the consent of the prey every step along the way. No doubt some prey consent their way to the chopping block  but I have a very high degree of confidence that neither of us have ever or will ever be part of that group of fools. A smart predator preys predominantly on the weak.............or in this case, the weak minded.

[core]

I'm not even sure what that refers to, so all I can say is that until the defense shows that it knows how to stop it, it's wise to periodically run the same plays.

My strategy is to let the prosecution talk themselves into a whale hole and then nail them on a technicality.  Of course last time I employed that strategy, I got sent to court-ordered counseling.  So it doesn't always work out.

Obviously you didn't read yesterdays New Zealand comments in the main blog area if you think I've been dormant.

You're right; I hadn't read it.  Almost everything on the "main blog area" is complete drivel and I can't be bothered.  Some of your own comments on the blog are also quite mundane (for whatever reason), but I can safely say that whenever you post something abrasive, it's worth reading.  Even if one doesn't like abrasive.  Best part of the show, hands-down.

The real predators you speak of can only be successful if enough of their potential prey deliver themselves to the slaughter through ignorance, complacency or a failure to resist. Their salami slice predatory tactics require the consent of the prey every step along the way.

Living out here in the country now, I experience a lot of things I'd rather not.  One of those experiences is seeing a bunch of cattle ("cows") living happily ever after in the pasture across the way, and then one day get loaded into semi's.  You know what, they don't have to beat these cows to get in there.  They go willingly.  And while I will never go near a slaughterhouse, I hear as long as the cows don't see what's going on, they'll plod along the plywood track to their deaths.  Cows, humans, there is very little difference.  Mammals seem to act the same.  Don't they, Mr. Whale?

[AnilG]

Several PeerCube users mentioned that first time they took quite a while, as much as a month, to list all current declining FICO notes on FOLIOfn. But once they cleared out the backlog, it doesn't take long to  check their portfolio weekly, identify such loans and list on FOLIOfn.

Same here.  My tolerance level tanked last month when for the first time my stacked up lates cost more to sell than I earned in interest.
Now these are finding new homes too:

Graces:  -25% (and on by the day to -50% until the last one may go at -70%)

Until recently the graces went current fast enough and often enough to not bother with them.  Now they don't.  I experimented with selling current low Fico scores about 10 days ago (not at a loss).  Those were too much work to list, so I quit that.

[Lovinglifestyle]

Several PeerCube users mentioned that first time they took quite a while, as much as a month, to list all current declining FICO notes on FOLIOfn. But once they cleared out the backlog, it doesn't take long to  check their portfolio weekly, identify such loans and list on FOLIOfn.

Same here.  My tolerance level tanked last month when for the first time my stacked up lates cost more to sell than I earned in interest.
Now these are finding new homes too:

Graces:  -25% (and on by the day to -50% until the last one may go at -70%)

Until recently the graces went current fast enough and often enough to not bother with them.  Now they don't.  I experimented with selling current low Fico scores about 10 days ago (not at a loss).  Those were too much work to list, so I quit that.

Thanks for pointing this out.  Since I had about 450 of those it seemed daunting to even think about how to get through them all.  Yesterday, having run out of other lates again, I put the lowest 14 on Folio.  All are listed below the lowest current listing price and only two sold.  Now I'm playing with the prices.