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Post by MoneyThing on Mar 6, 2019 13:21:42 GMT
Afternoon,
By way of a brief up date on VSM (initially discounts only), the Beta version was launched on our test server on the 12th February. Testing has been underway since with a number of features and performance improvements released along the way.
We are nearing the point of having it ready to launch which I would estimate to be within the next month.
Kind regards,
Ed
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Post by mrclondon on Mar 6, 2019 13:34:39 GMT
Great news, I'm sure it will be a successful step forward. It will though be rather ironic if in the meantime a couple of major redemptions reduce the SM availability to the point we wonder what all the fuss was about.
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Post by GSV3MIaC on Mar 6, 2019 17:59:04 GMT
If that happens they'll just have to rush 'premiums' into production. 8>.
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Post by df on Mar 26, 2019 15:49:21 GMT
It is coming within the next couple of weeks. Discounts only - no premiums.
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nw99
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Post by nw99 on Mar 26, 2019 17:23:19 GMT
Great looking to sell all my loans that are not performing
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cedarcourtcapital
Member of DD Central
Listening is not the same as understanding
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Post by cedarcourtcapital on Mar 26, 2019 17:53:04 GMT
Great looking to sell all my loans that are not performing Out of interest what percentage discount will you be offering on what loans? How much of a loss are you prepared to take? That will be the question others will be thinking about when the first loans are put up for sale. If it's only 1% or 2% will buyers hold off thinking they will get a better deal?
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nw99
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Post by nw99 on Mar 26, 2019 18:52:53 GMT
Will be offering at 10-20% discount
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corto
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one-syllabistic
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Post by corto on Mar 26, 2019 20:01:37 GMT
10-20% of what ? At AC it's a tenth of that. Is MT such a desperate place? I mean .. in comparison
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nw99
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Post by nw99 on Mar 26, 2019 20:16:24 GMT
10 to 20% discount to face value
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copacetic
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Post by copacetic on Mar 26, 2019 20:20:30 GMT
10 to 20% discount to face value
Let us know which loans and when you plan to list them. Panic selling is always a good opportunity.
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Post by df on Mar 26, 2019 20:20:59 GMT
Great looking to sell all my loans that are not performing I very much doubt that non-performing loans will be eligible. FCA won't permit
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Post by mrclondon on Mar 26, 2019 20:22:38 GMT
nw99 (and others) - you may be right that a rational analysis would conclude non trivial discounts might be justified to reflect current risk, and selling quickly at a large discount will stop sleepless nights / stress etc.
However, based on the experience at AC (and FS for that matter prior to the 1% discount limit) to offer large discounts without testing the market is crazy, and may mean you are throwing money down the drain (or more accurately giving it to other MT lenders by the barrow load.)
Avoid the temptation to offload on day 1, let the market settle, then list to match the largest discount currently on offer, each day thereafter increase the discount until it sells. At AC even the most dire loans will generally clear at a 2% discount.
There will plenty of flippers happy to buy at a 2% discount and resell at a 1% discount - this is where the demand for variable pricing came from, people looking to trade and profit from the unwary. Don't fall unwittingly into the trap that is about to be offered.
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Post by Badly Drawn Stickman on Mar 26, 2019 20:42:25 GMT
10 to 20% discount to face value
Let us know which loans and when you plan to list them. Panic selling is always a good opportunity.
Newcastle U L is probably the only loan that would warrant big discounts, most of the others would be a token cut to gain a better queue position. Even 20% would not induce me to buy N U L, in fact not even sure 50% would do the trick. others will disagree so could be an interesting time.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Mar 26, 2019 21:02:56 GMT
Great looking to sell all my loans that are not performing I very much doubt that non-performing loans will be eligible. FCA won't permit Non performing aren't an issue, default (recovery) are because of loss relief implications & trading is suspended accordingly, which I don't expect to change. AC allow the sale of monitoring/default (overdue/covenant breach/interest accruing etc) so there is no issue there.
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Post by df on Mar 26, 2019 21:37:42 GMT
Let us know which loans and when you plan to list them. Panic selling is always a good opportunity.
Newcastle U L is probably the only loan that would warrant big discounts, most of the others would be a token cut to gain a better queue position. Even 20% would not induce me to buy N U L, in fact not even sure 50% would do the trick. others will disagree so could be an interesting time. NUL will be the first on my "wish list" to sell and I can't see anything in the loan book that I would want to buy at any discount, unless there are some pawn offers (not likely to happen).
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