Author Topic: Discount 73.02% - YTM 220.42  (Read 3076 times)

GregTexas

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Discount 73.02% - YTM 220.42
« on: June 14, 2016, 09:29:27 AM »
I suppose I discovered one of the pitfalls of API buying. Garbage in garbage out.

Note ID            Loan ID     Order ID           Bid Price    Markup/Discount   YTM          Interest Rate   Loan Class   FICO     Payments Left   Original Note   Credit Trend
20112917         3625944     103796991   $16.95         -73.02               220.42       17.27              C5                     680            23                    125            FLAT

One of $300 worth of notes all with the same YTM I bought this morning. Unfortunately I found out I wasn't storing the outstanding principal so I can't see how good or bad I did.
This link https://www.lendingclub.com/account/loanPerf.action?loan_id=3625944&order_id=103796991&note_id=20112917 doesn't work.

Now I filter out all notes with unlikely discounts.



Rob L

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Re: Discount 73.02% - YTM 220.42
« Reply #1 on: June 14, 2016, 10:01:57 AM »
OutstandingPrincipal             AccruedInterest      AskPrice   Markup/Discount          YTM                       Status
           60.84                                         1.93                  16.94            -73.01                      216.74       Late (31-120 days)   

Looks like a distressed note sold for a big discount. 60 days since last payment so there is still a bit of time before charge off.
A lottery ticket.




                 

GregTexas

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Re: Discount 73.02% - YTM 220.42
« Reply #2 on: June 14, 2016, 10:21:44 AM »
OutstandingPrincipal             AccruedInterest      AskPrice   Markup/Discount          YTM                       Status
           60.84                                         1.93                  16.94            -73.01                      216.74       Late (31-120 days)   

Looks like a distressed note sold for a big discount. 60 days since last payment so there is still a bit of time before charge off.
A lottery ticket.




               

Nice a little lottery action. Where do I find that note info? I remove any notes with false for "Never Late". Something went wrong here.

Rob L

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Re: Discount 73.02% - YTM 220.42
« Reply #3 on: June 14, 2016, 11:04:48 AM »
Go to Folio and BrowseNotes. Click on the link at the bottom "Download Full Inventory" and you will get the file SecondaryMarketAllNotes.csv.
Do this and archive the file before and maybe an hour after you trade so you can go back and look at what was what historically using a spreadsheet program. I happened to have an archived copy that included your note and looked it up there.

The spreadsheet I originally opened to look up your note was still open when I saw your reply.
The NeverLate flag is false so there was definitely a glitch in your filtering.

StevenL

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Re: Discount 73.02% - YTM 220.42
« Reply #4 on: June 14, 2016, 12:56:13 PM »
This link https://www.lendingclub.com/account/loanPerf.action?loan_id=3625944&order_id=103796991&note_id=20112917 doesn't work.
On any link to a note, if you replace "account" with "foliofn", it will work, regardless of whether or not it is actually available in the secondary market.

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=3625944&order_id=103796991&note_id=20112917

GregTexas

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Re: Discount 73.02% - YTM 220.42
« Reply #5 on: June 14, 2016, 05:56:56 PM »
This link https://www.lendingclub.com/account/loanPerf.action?loan_id=3625944&order_id=103796991&note_id=20112917 doesn't work.
On any link to a note, if you replace "account" with "foliofn", it will work, regardless of whether or not it is actually available in the secondary market.

https://www.lendingclub.com/foliofn/loanPerf.action?loan_id=3625944&order_id=103796991&note_id=20112917

Great because I missed the boat on the download.