lexo
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Post by lexo on Nov 8, 2018 22:14:28 GMT
It looks like Amend columns in Secondary Bids and Secondary Options have disappeared and there is no way now to edit bids and offers. I'm wondering if anyone else is experiencing the same or it's just me.
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Post by Badly Drawn Stickman on Nov 8, 2018 22:19:55 GMT
It looks like Amend columns in Secondary Bids and Secondary Options have disappeared and there is no way now to edit bids and offers. I'm wondering if anyone else is experiencing the same or it's just me. From memory if you go to your active bids on the dashboard page the option is there. Edit, Its in the invested funds section.
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lexo
Posts: 52
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Post by lexo on Nov 8, 2018 22:37:54 GMT
Yep, Amend column is no longer there.
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brianlom1
Member of DD Central
He's not the Messiah, he's a very naughty boy!
Posts: 387
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Post by brianlom1 on Nov 8, 2018 23:03:13 GMT
Curious ... when I clicked on the 'details' button, I was offered the option to 'cancel' with the following note: "Note: Offer modification is not allowed. However you can cancel this offer and can place a new one if needed" ablrate - what's the logic for this change please? |
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IFISAcava
Member of DD Central
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Post by IFISAcava on Nov 8, 2018 23:33:43 GMT
Curious ... when I clicked on the 'details' button, I was offered the option to 'cancel' with the following note: "Note: Offer modification is not allowed. However you can cancel this offer and can place a new one if needed" ablrate - what's the logic for this change please? probably so that you don't jump the queue at the new rate as the current system allows
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blender
Member of DD Central
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Post by blender on Nov 8, 2018 23:39:10 GMT
It was very flexible: you could alter rates, size and dates as you wished. So, start with a pound at 105% when a loan drew down and you could use its seniority for any future bid. As it sold you could top it up or alter the rate. I could imagine circumstances where an underwriter might establish a permanent seniority on a loan.
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stev
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Post by stev on Nov 9, 2018 2:04:10 GMT
I think it would be better to allow changes to bids and offers for convenience, but to set the date of seniority to the date of the change to stop people gaming the system.
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toast
Member of DD Central
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Post by toast on Nov 9, 2018 9:17:08 GMT
I encountered a bug in this area recently. Someone sold me a loan part whilst I was in the middle of altering my bid. This lead to an erroneous deduction in my account balance which took a while to get resolved. It's possible that the fix for this was just to remove the amend feature rather than add additional locking. Ablrate might be nervous around adding more locks because these were the cause of us struggling to make purchases following the launch of new loans.
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lexo
Posts: 52
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Post by lexo on Nov 9, 2018 14:33:58 GMT
I don't understand why ablrate didn't announce/explain these changes. |
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nw99
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Post by nw99 on Nov 9, 2018 18:37:26 GMT
Agreed no idea why were not told about this before it went live !
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lexo
Posts: 52
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Post by lexo on Nov 13, 2018 18:46:19 GMT
I like how @mt approaches change implementations. First, they ask investors to vote on a proposed change. They offer a short and clear explanation of the proposed change, pros, and cons. Then they start developing the changes the investors voted for. ablrate quietly develops some platform changes and to make things worse launch them without even making any announcement even after the implementation. I'm sure that a lot of investors who utilize the secondary market would have appreciated an advance notice of the changes if not consultations regarding possible changes. It seems ablrate doesn't care about their lenders and believe that their opinion can be completely disregarded because the platform only serves interests of ablrate itself. Before this change, I personally thought that @ablerate is a great platform that can be a great example for other players on the market. This type of arrogant attitude has changed my view completely. |
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SteveT
Member of DD Central
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Post by SteveT on Nov 13, 2018 19:13:33 GMT
ablrate quietly develops some platform changes and to make things worse launch them without even making any announcement even after the implementation. I'm sure that a lot of investors who utilize the secondary market would have appreciated an advance notice of the changes if not consultations regarding possible changes. It seems ablrate doesn't care about their lenders and believe that their opinion can be completely disregarded because the platform only serves interests of ablrate itself.
Before this change, I personally thought that @ablerate is a great platform that can be a great example for other players on the market. This type of arrogant attitude has changed my view completely. Seriously?? Simply because you now have to create a new offer, not amend an existing one? Wow, your P2P priorities are very different from mine 
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lexo
Posts: 52
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Post by lexo on Nov 13, 2018 19:44:30 GMT
Creating a new bid/offer is obviously not a problem. The biggest change is how your bids and offers are ranked now. After you cancel a bid or offer and create a new one you lose your place in the queue. I understand that people who don't trade actively on the secondary market may not notice much difference. My big disappointment here is not the change itself (which is still very annoying), but the way ablrate handled it. |
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Post by dan1 on Nov 13, 2018 20:44:48 GMT
I like how @mt approaches change implementations. First, they ask investors to vote on a proposed change. They offer a short and clear explanation of the proposed change, pros, and cons. Then they start developing the changes the investors voted for. ablrate quietly develops some platform changes and to make things worse launch them without even making any announcement even after the implementation. I'm sure that a lot of investors who utilize the secondary market would have appreciated an advance notice of the changes if not consultations regarding possible changes. It seems ablrate doesn't care about their lenders and believe that their opinion can be completely disregarded because the platform only serves interests of ablrate itself. Before this change, I personally thought that @ablerate is a great platform that can be a great example for other players on the market. This type of arrogant attitude has changed my view completely. A tad strong lexo. I believe the ability to amend was removed to prevent erroneous transactions. You may have missed the post by toast a few days ago... I encountered a bug in this area recently. Someone sold me a loan part whilst I was in the middle of altering my bid. This lead to an erroneous deduction in my account balance which took a while to get resolved. It's possible that the fix for this was just to remove the amend feature rather than add additional locking. Ablrate might be nervous around adding more locks because these were the cause of us struggling to make purchases following the launch of new loans. I've experienced errors in my account history before and it takes valuable time and resources for the platform to track down so unless there is a quick fix the best thing is to just remove it. A comment from Ablrate on the subject would be welcome but you can understand why platforms no longer engage with the forum, and I'm not just referring to compliance issues 
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Post by ablrate on Nov 14, 2018 17:15:32 GMT
I like how @mt approaches change implementations. First, they ask investors to vote on a proposed change. They offer a short and clear explanation of the proposed change, pros, and cons. Then they start developing the changes the investors voted for. ablrate quietly develops some platform changes and to make things worse launch them without even making any announcement even after the implementation. I'm sure that a lot of investors who utilize the secondary market would have appreciated an advance notice of the changes if not consultations regarding possible changes. It seems ablrate doesn't care about their lenders and believe that their opinion can be completely disregarded because the platform only serves interests of ablrate itself. Before this change, I personally thought that @ablerate is a great platform that can be a great example for other players on the market. This type of arrogant attitude has changed my view completely. Amending bids was stopping us being able to launch the netting off of paid accrued interest against earned accrued interest which has been asked for for a while and is important to a number of customers recently, and is needed ahead of the tax year..... We also did it because of the problem with amended bids being ahead of bids at that price in the time line... which is unfair to lenders. To be fair to you, the developers made it live as a matter of a minor update and should have let us know it had gone live and we would have let people know, so we do take that criticism on the chin. As far as voting on changes... we have taken into account feedback from day one and adapted the platform quicker than most...but having said that we don't run the business by committee... hence having a premium and discount market despite huge criticism at the beginning... now it appears our solution is the solution de jour. 
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