Today we announce a big step for traders in the secondary market: the FOLIOfn® Screener.
Using the same interface you’re used to in the Analysis page, you can now search for notes offered in the trading platform.
To enable the feature and see the additional filters available for this type of search, select the option FolioFn Listings in the Show panel. The additional filters are:
- Discount/Markup %: How discounted or marked up is the note, calculated from the Principal plus Accrual and the ask price
- YTM: Yield To Maturity percent, i.e., how much the note will return if paid off, divided by asking price. Negative values mean the note is out-of-money, and paying the ask price will yield a loss even if the borrower pays as agreed until the loan is paid off
- FICO Trend: Whether the borrower’s score improved, stayed the same, or decreased
- Age: Note age, in months
- Last Payment: Days since last payment. Note that “processing” may also mean the first payment is not due yet (for Issued loans)
- Current Status: Loan status as reported by FolioFn. It may differ from the status in Interest Radar and Lending Club due to timing issues
The results will be tabulated and will contain the following columns:
- LoanID: The Loan ID with a link to Interest Radar’s loan summary
- NoteID: The Note ID with a link to FolioFn’s note summary
- Age: Loan age in months
- Remaining Payments: number of payments left to pay off the loan
- Grade: Loan’s Credit Grade
- Interest: Loan’s Interest Rate
- Length: Loan length (36 or 60 months)
- Status: Loan status as reported by FolioFn. It may differ from the status in Interest Radar and Lending Club due to timing issues
- Last Payment: Days since last payment. A value of “N/A” may mean the first payment wasn’t processed yet, or a payment is being processed now
- Principal: Remaining principal balance
- Accrued: Interest accrued since last payment
- Score: The IR01 and IR04 scores. For IR04, U means Unknown, H is High Risk, M is Medium Risk and L is Low Risk
- FICO Trend: How the borrower’s FICO is progressing. An arrow down means it’s decreasing, an arrow up means it is improving, and a dash means it is stable
- Ask Price: Amount you have to pay to buy the note
- Discount %: How discounted the note is. A negative value means the note is marked up, i.e., being sold for more than the Remaining Principal plus the Interest Accrued
- YTM %: Yield To Maturity percent if the note pays off
When you search, you can see before the results the date and time the list was updated from the trading platform. During the beta phase, the frequency of update is once a day.
The following features are not available yet but are being developed:
- Sorting the results
- Intra-day updates
- Save strategies with FolioFn filters set (if you save a strategy, the FolioFn filters won’t save)
If you have suggestions or bug reports, please send an e-mail to the address shown in Interest Radar’s home page in the Beta section.