Thanks lascott. It is almost like some institutional place came into work at 5am of a new quarter and hit the start buying again button.
Whoever bought them also seemed to favor the loans that had been listed the longest and were about to expire. Yesterday there were a lot of loans that were 1 day from expiration. Today another day has passed and the oldest notes available are 2 days from expiring...and there are only a few of those. So it's not like the big buyer came in and ran a filter and picked up the "best" notes from all available....they seem to have bought the remainder of the oldest notes.
LC used to fund loans themselves that were about to expire and did so quite frequently a few years ago before investor demand really picked up. That got me thinking since you mentioned that it seems to have been the oldest ones.
Or they offer someone a deal now to fill that roll. No fees, etc.
My how things have changed.
Graphic:
http://i.imgur.com/doSuQT2.png
Wow some hungry "retail" investors out there.
Source: BlueVestment
Image:
http://i.imgur.com/LDp3P7s.png
They've been releasing about 400 loans with each drop the last few days....I hope this keeps up as I will soon be depositing additional funds in my account. Just my luck, this will dry up once my funds hit!
BlueVestment 3 month graph. 20-40 loans per drop lately. Hopefully it'll pick up in early August. Jul 16 + 14 days = July 30. 14 days = 1st batch "expires" (LC buys if noone else does?)
Image:
http://i.imgur.com/qQo2hBd.png