New Feature: Note Sales

I’m pleased to announce the first new feature in a series of tools to help investors trade in the secondary market of Lending Club (also known as the Trading Platform): the Note Sales tracker.

Now you will be able to see in Interest Radar the notes that you sold through the Trading Platform, input the sales price of the transaction, and monitor statistics such as annualized ROI, total yields etc.

This is how it works:

  • When you upload your notes.csv file, Interest Radar will detect if notes were sold by comparing with the previous notes.csv file uploaded
  • If so, you will be presented with a new box in the My Portfolio page, with specific information about your sales
  • At first, Interest Radar won’t be able to tell much about the performance of your notes in the secondary market, because there is no way to tell for what price notes were sold unless you provide that information. In the same box, you’ll have a link to a page with a complete list of sold notes, for the prices to be input
  • In the Sales list you will see all notes missing a price, or that the sale date was within the last 30 days
  • There are two ways to input the prices:
    • You may enter the sale price (not the net proceeds, but the price the other party paid for the note) one by one in the boxes; or
    • Copying and pasting the My Account page from the Trading Platform into the top text box and clicking Process. The easiest way to do this is by logging into Lending Club, clicking Trading Account under Account Summary, pressing Ctrl-A to select the whole page, Ctrl-C to copy to the clipboard, then switching back to Interest Radar and pasting the contents with Ctrl-V into the box, then pressing the Process button. If the operation was successful, you’ll see a popup message
  • After the prices were entered, either using the manual input or the Process button, you can click Save to submit the prices to Interest Radar
  • You can now go back to the My Portfolio page to see statistics about your trades

As I mentioned in the introduction to this post, this is only the first tool for the secondary market traders. More will come to help you maximize your returns, both when selling your loans as well as when shopping for good deals in the trading platform.