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Post by ablrate on Nov 3, 2017 16:33:09 GMT
Hi
The new UI is intended to be more user friendly and intuitive. We are also working on cleaning up the financial statements section. That has been finished in design and now is on the hands of the developers to sort out.
You will also be pleased to know that we have uploaded some new code that will allow us, on selected loans, to have a period of time that bids cannot be made allowing a certain amount of time for lenders to read the docs. Any bids attempted during this time will see a notification explaining this and the time when bids will be accepted. We also have the capability to have bid limits following this waiting period for a further period of time. As you know, we are not fans of bid limits, simply because there is no evidence of any serious flipping going on, but we coded it anyway for smaller loans and where some loans maybe super popular.
The waiting period will be on all loans, the bid limits will be on selected loans.
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ptr120
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Post by ptr120 on Nov 4, 2017 13:40:32 GMT
I'm glad that ablrate have finally done this. It will be interesting to see how long the waiting period is, and how often (and to what extent) bit limits are implemented.
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blender
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Post by blender on Nov 4, 2017 15:34:38 GMT
I'm glad that ablrate have finally done this. It will be interesting to see how long the waiting period is, and how often (and to what extent) bit limits are implemented. Yes, a 'like' is not really sufficient. It is very positive and encouraging that Ablrate engages with the lenders' requests in this way. When it comes to the length of bidding delay and the use of bid limits, then we will all tend to put forward our personal subjective opinions. I will try just to leave it to Ablrate to find the balance here.
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Post by GSV3MIaC on Nov 4, 2017 21:33:10 GMT
24 hours is likely quite enough for most people, and should not slow down loan filling enough to matter. Not sure what ablrate 's problem with limits is/are .. they are a bit of a pain on platforms which have separate 'loan parts' because you tend to wind up with several when you only wanted one, but the way ABL aggregates parts it makes no difference if you buy £1k at minute 1, and the rest as soon as any limit comes off (unless the limit has the effect of letting someone(s) else buy the extra(s) you wanted, of course).
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elliotn
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Post by elliotn on Apr 27, 2018 14:22:09 GMT
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southport
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Post by southport on Apr 28, 2018 3:36:32 GMT
Excluded again . I really can't understand why Ablrate would want to make loans live outside working hours. I would have thought the ideal solution woud be to make the loan viewable 24 hours before launch and then launch it within working hours (9-5). I can't see anyone having a problem with that and nobody would be excluded. Is there some reason loans need to go live at 8pm ablrate ?
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applets
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Post by applets on Apr 28, 2018 5:12:23 GMT
Evenings are welcome by some people who are sometimes "excluded" from daytime offerings due to work commitments. A mixture of launch timings does not seem too unreasonable to me.
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mason
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Post by mason on Apr 28, 2018 6:43:45 GMT
Excluded again . I really can't understand why Ablrate would want to make loans live outside working hours. I would have thought the ideal solution woud be to make the loan viewable 24 hours before launch and then launch it within working hours (9-5). I can't see anyone having a problem with that and nobody would be excluded. Is there some reason loans need to go live at 8pm ablrate ? The launch time is irrelevant providing the loan doesn't fill too quickly. I'll also be unable to place a bid until a few hours post-launch this time. Normally I am unable to place bids during working hours and evenings work well for me.
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rzys
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Post by rzys on Apr 28, 2018 9:42:42 GMT
I'm another who is excluded from any loans that fill before c6pm on a working day, so am happy with an 8pm launch.
Having variable start times would seem to be reasonable though.
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southport
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Post by southport on Apr 28, 2018 9:55:28 GMT
Excluded again . I really can't understand why Ablrate would want to make loans live outside working hours. I would have thought the ideal solution woud be to make the loan viewable 24 hours before launch and then launch it within working hours (9-5). I can't see anyone having a problem with that and nobody would be excluded. Is there some reason loans need to go live at 8pm ablrate ? The launch time is irrelevant providing the loan doesn't fill too quickly. I'll also be unable to place a bid until a few hours post-launch this time. Normally I am unable to place bids during working hours and evenings work well for me. This is true, however, all of the loans which have been launched at 8pm so far have filled within a couple of hours. I have a feeling, with this being a new borrower, that this loan will fill quickly also. Depends on the proposal of course. Maybe some sort of pledging system or pre-funding similar to Lendy would be the fairest way to do it? Might be a lot of work for Ablrate though...
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mason
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Post by mason on Apr 28, 2018 11:18:10 GMT
The launch time is irrelevant providing the loan doesn't fill too quickly. I'll also be unable to place a bid until a few hours post-launch this time. Normally I am unable to place bids during working hours and evenings work well for me. This is true, however, all of the loans which have been launched at 8pm so far have filled within a couple of hours. I have a feeling, with this being a new borrower, that this loan will fill quickly also. Depends on the proposal of course. Maybe some sort of pledging system or pre-funding similar to Lendy would be the fairest way to do it? Might be a lot of work for Ablrate though... The size of the loan has a lot to do with it. The 2nd most popular answer in the poll was to have a fixed limit, which is easy to implement. However, the larger investors feel this penalises them disproportionately and they are valued for their part in filling the large/unfavoured loans. That applies to the Lendy system, the MT system, and even the AC system. The FS system of putting in limits sometimes just creates frustration for everyone. In the end, the real solution is to bring enough to the platform to satisfy lender demand.
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Post by GSV3MIaC on Apr 28, 2018 11:22:35 GMT
It'll never work without some elasticity somewhere in the system .. price is a good one, and works for most things. Having too few borrowers is embarrassing .. so is having too few lenders (as Ly). Goldilocks state is hard to maintain, but an ability to fiddle with the prices helps a lot.
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mason
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Post by mason on Apr 28, 2018 11:36:55 GMT
It'll never work without some elasticity somewhere in the system .. price is a good one, and works for most things. Having too few borrowers is embarrassing .. so is having too few lenders (as Ly). Goldilocks state is hard to maintain, but an ability to fiddle with the prices helps a lot. In essence this happens with loans in which the rate was higher than necessary through the secondary market, with some of the lenders benefiting. I'd be broadly in favour of a system in which a loan could be auctioned off at an appropriate rate to balance demand and supply, with the platform benefiting. But it seems like a system that would be quite complicated to achieve in practice.
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