So now it seems the Folio Loans have finally started to dry up....

[dr.everett]

So I've been gone for a week on work, no time to look at any of my LC stuff during that time. That's the whole reason I use automation to the level that I do.

So I'm back from work and there's 2 emails greeting me this morning from LC- one from each of my accounts. Large amounts of money available to be invested. Hmm- that's odd. Usually I get an email with a few hundred dollars left over from the previous day's buying, but not Thousands waiting.

Problem with Lending Robot? No- checked and it has been diligently buying notes that I like- there are just not as many that I want as there have been in the past.

I have a pretty extensive ruleset that is ranked from most desirable to least desirable- usually only half of it gets hit before my money is invested. Appears LR went through the whole ruleset which I've never seen before.

So here's my question- anyone else who buys in volume on Folio see similar behavior? Or have I finally become too unique in what I buy, and have bought all the purple unicorns that exist?  https://forum.lendacademy.com/Smileys/default/wink.gif" alt=";)" title="Wink" class="smiley" />

[apc3161]

Don't make the mistake of lowering your lending standards. Just take your money elsewhere.

[Fred93]

Please lower your standards enough to buy some of my loans.  I offer about 200 loans for sale every day, and have been selling about 1 per day average. 

[Rob L]

Hey, when Fred (the other one, not Fred93) says he is moving on from LC after what clearly must have been a very substantial investment of time and effort in Folio trading I gotta presume things must be really bad in LC Folio land.

[fliphusker]

https://forum.lendacademy.com/index.php?topic=4381.msg40323#msg88888888Quote"> from: Fred93 on March 26, 2017, 07:30:25 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4381.msg40323#msg88888888Quote"> from: Fred93 on March 26, 2017, 07:30:25 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4381.msg40322#msg88888888Quote"> from: apc3161 on March 26, 2017, 05:58:43 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4381.msg40325#msg88888888Quote"> from: fliphusker on March 26, 2017, 09:24:41 PM

[TravelingPennies]

I think there's something going on with Lending Robot- a manual check of Folio shows notes that match my specs. Going to buy manually and send Support an email.

[TravelingPennies]

They confirmed they found and fixed a problem. Not sure if it affected anyone else or not, but my purchasing is now working as it should.

[TravelingPennies]

Guess I have hit the same thing as you Dr. Everett. Three days and only bought two notes. Even notes that have a recent IGP on them are selling the same day as being listed with a very slight discount.
Guess I keep my cash drag going and not buying notes at a premium. https://forum.lendacademy.com/Smileys/default/sad.gif" alt=":(" title="Sad" class="smiley" />

[TravelingPennies]

Purchasing is going well for me. I'm getting $800-1K worth of notes daily. Since LR fixed whatever their issue was it's been smooth sailing. Cash left over after purchases is zero or very close to zero.

[TravelingPennies]

As LC does not distinguish IGP notes from ones that have never been late, does LR? Does it matter to you getting notes that have been IGP at some point, but technically never late? I know you deal with such a huge volume that you probably never look at them. Maybe just the cost of doing business?
https://forum.lendacademy.com/index.php?topic=4381.msg40575#msg88888888Quote"> from: dr.everett on April 13, 2017, 02:13:39 PM

[TravelingPennies]

https://forum.lendacademy.com/index.php?topic=4381.msg40576#msg88888888Quote"> from: fliphusker on April 13, 2017, 06:03:31 PM

[TravelingPennies]

LR confirmed that they consider IGP notes that have never progressed to Late as being Never Late when making purchasing decisions.  https://forum.lendacademy.com/Smileys/default/angry.gif" alt=">:(" title="Angry" class="smiley" />

Personally I find this troubling as IGP is an indicator of distress to me based on past observations. I would not buy a note with chronic IGP, nor would I want to buy a note that showed instances of IGP. I would also consider selling a note that started displaying IGP as well. I understand the "I screwed up and missed a payment" argument because we've all done it once, but if I saw IGP along with any change in FICO, the note would then be on my radar.

I've asked them for a Feature Request to be able to exclude IGP notes from my purchases. We'll see what they say.