Author Topic: Listing Notes on Folio For Lending Club Not Showing Up On Browse For Loans  (Read 850 times)

Eelyeroc

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Anyone having this issue? I'm trying to liquidate some of my notes on Folio. I listed quite a few initially, and most moved quickly. I offered them at a good discount. Some up to (9%). When I listed these original notes, I would go to browse to see where I was stacking up against others so that mine would be towards the top. They were easy to spot because they showed up with an exclamation point. Again, most of these moved fairly quick, within a couple of days (about 30 notes). I then decided to list about 20 more, but these 20 do not show up on browse and are not selling. These are good notes, no grace period payments, credit scores 630+, heavily discounted (some at (10%). They are discounted to the point, that would be at the top of any search you do if you are looking for discounted notes.Now on occasion, a note will sell. I reached out to Folio but they didn't have an answer. Anyone else having this issue?

Dark Vulture

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Yes, I had this issue in the past, and I am again having this issue again.

I only have this issue when I am trying to sell a note quickly after buying the note on folio. I do not have this issue when I am trying to sell a note that I bought upon issuance from the main Lending Club site.

For some reason, when you are trying to sell a note bought on folio, it will not show up in browse notes until after a payment is made on the note (or scheduled to be made). This is a real bummer because part of my strategy in the past is to buy grace period notes and 16-30 days late notes, and turn around and sell them quickly on folio. This is not possible if the note you are selling is not showing up in "browse notes".

Right now I am just buying and selling current notes and notes 31-120 days late.

Dark Vulture