First week of dumping lots of notes on FOLIOfn

I added a few more notes to my initial attempt at selling notes on FOLIOfn. There was a total of 437 notes offered. Of these, 56 did sell. The remaining either entered payment processing and were cancelled or were unsold when the week ended. All were offered at about a 1% markup over the remaining principal.

I’ve selected another 500 notes to offer on FOLIOfn (some are repeats). These were originally purchased using Lending Club’s automatic investing. Again, the markups are about 1% and all the notes have outstanding balances over $14.50. I’ll let these alone for a few days, then I’ll start moving the markup down to see if I can increase the percentage sold.

I’ll report the results in about a week. Follow me on Twitter @billlanke to know when this occurs.

I got a message from the creator of lcpicks.com indicating that he had redone his reports page. Last summer I purchased 39 notes based on his grading and they are listed as a test case. So far all are current on their payments, with 3 having been paid off early. He’s offering a couple of weeks free trial. You might consider looking at his offer.