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NEW LOANS:   | 8033.eth 0.349 Ξ | 5033.eth 0.349 Ξ | scyther.eth 0.800 Ξ | ALL

Is it really worth .25?

Started by Peter, January 27, 2014, 11:00:00 PM

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Looks like loans get originated, then listed for .99 markup. The seller clears .25 cents in the transaction. Is it really worth it?


For who?  It really depends on the note.


A $25 note listed for $25.25 (+1.00%) yields the seller $0.00 profit after the 1% Folio fee, not $0.25.  So no, it's not really worth it.  I have to believe all these sellers know they are just breaking even, and are just trying to get rid of those notes.  On the other hand I've seen plenty of activity on Folio with no intelligence behind it.


I have seen a decent amount priced at 25.99 so I guess they are clearing .75 and it makes it a little more worth it.



Yes, I've always kept 100% of my notes up for sale, and I know a lot of other people here do so too.  Before the payment in progress restriction was added, it really was simply easier to keep track of your notes from the Folio screen where they were all in one place.  After the change, it's a lot more trouble to keep on top of but I still do it because I get occasional sales.  I mark them up a helluva lot higher than 5% as long as I don't need the cash soon.  There's no harm in letting people pick over your notes as long as your markup is high enough.  But don't ask me what that magic number is because I don't know.  Certainly 4-5% seems safe.


Saw a bunch of issued notes being sold by 0% markup and a lot with below 1% markup a few minutes ago. Not sure about the quality of these loans. Might LendingClub do it to make Foliofn-only clients happy?

NEW LOANS:   | 8033.eth 0.349 Ξ | 5033.eth 0.349 Ξ | scyther.eth 0.800 Ξ | ALL