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Still having trouble with Foliofn

Started by Peter, December 09, 2012, 11:00:00 PM

Previous topic - Next topic

yojoakak

I'm still having trouble with Foliofn, the value for Accrued Interest on Folfiofn > My Account > Open Sell Orders often doesn't agree with the (real?) value from the Loan Performance page.

For example, on My Account it will be $0.77 and on Loan Performance it will be $0.32.

So it looks like not only do they not have enough IT staff to upgrade their website, they don't even have enough to fix it when it's broken.

SCARY!!!!

(Oh well, I guess they could always hire a couple more Salespeople.)

TravelingPennies

The principal does not match up on some notes, either. It's not off by a whole payment but I'm seeing them off by two cents or five cents or something like that.

I'm not buying any notes at all except just-issued ones because I can at least be sure that I know those are worth exactly $25.

TravelingPennies

I heard they're going to do another release tonight (Tuesday).

3rd time's the charm, I hope!

william

Sarah I'm pretty sure that is a good thing for the buy, because you would see the note has $0.32 accrued interest but when you would buy it, it will actually has $0.77 accrued interest. This will be bad for sellers because their loans may appear over priced. Luckily I'm not having this problem with any of my notes. Does this happen to you guys frequently?


MTaylor

And no acknowledgment. It just worries me that this is their business philosophy.

Peter

It is disappointing that Lending Club puts very little effort into Folio. Every time I talk with them about this they say there are only limited resources and Folio is not the highest priority. The fact is they need a functioning trading platform but they don't need to make enhancements in a timely fashion. I would encourage all of you to keep voicing your frustration to Lending Club.
Publisher of the Lend Academy blog

See my returns here: http://www.lendacademy.com/returns

TravelingPennies

Its unwieldiness bothers me less than they will not even acknowledge when it is actually broken. That suggests either gross incompetence or outright deception. Why should a customer believe that this attitude is limited to Folio?

TravelingPennies

"Enhancements" are clearly not happening, but "not broken" feels like it should be an option, especially since many of us are not allowed to use the regular platform.

They never bothered answering my last e-mail to support, I don't think continuing to send e-mails into the void is something I will waste time on. Maybe you can send them links to these threads.

TravelingPennies

LC also seems to have eliminated the ability to post on their Facebook page and deleted all previous comments by fans. That's not best practices for corporate social media and often a bad sign.

TravelingPennies

I just commented about the Folio problem on one of their posts (which is still allowed), I'll see if they delete it...



TravelingPennies

I recently updated my LendingClub greasemonkey script. It tries to fix some of the things I think are missing from the LendingClub/ Foliofn  user experience. If you are interested you can find it at http://userscripts.org/scripts/show/103295" class="bbc_link" target="_blank">http://userscripts.org/scripts/show/103295

"Features:

Add comments to loans. (Comments are stored locally on the users' computer and ARE NOT SHARED, even for the same user on different computers. Comments can be exported / imported with relative ease, for backing up or transferring to another computer or browser.)

Add a missing Loan id (or Note id) in various places.

Add missing Interest Rate to some tables.

Highlights certain keywords on Loan Performance page. Highlights over- and under-payments. Also adds a FICO change chart -- no more having to click a second time to see that graph.

Add links to notes (or loans) in various places, like Account Activity or Foliofn Year-end Summary.

Additionally, for Foliofn users:

Lots of highlighting on the My Account Open Sell Orders page. Add buttons to make it easier to select which notes you want to reprice or cancel.

Also, adds an Auto Price feature with a user-editable pricing function for selling or repricing notes. It can be as simple or as complex as you want. Calculates and displays a markup in real-time.

Lots of highlighting and data filtering for Browse Notes. Makes it easier to find the hidden gems."




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