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Post by toonee on Jul 23, 2016 21:04:39 GMT
I'm new to peer-to-peer lending, so I may be missing something here, but I have noticed a lot of loan parts that get put up for sale straight after the loan goes live (0 months interest paid yet), with 0.1% and 0.2% premiums. Don't FC charge a 0.25% fee when selling? So these people would be losing money?
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blender
Member of DD Central
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Post by blender on Jul 23, 2016 22:02:24 GMT
Yes FC do charge 0.25% and so if they sold on day one there would be a loss. However, interest accrues daily and is paid by the buyer to the seller, and so near the end of the first month they are selling for some gain and at no risk. It can make sense for an E loan.
When there was cash back of 1% or 2% then of course sales at par were very popular. But cash back is a thing of the past.
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