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Post by overthehill on Mar 8, 2024 19:59:18 GMT
Has anyone queried why Rom* Ind* is not sellable on the PLE ? No updates apart interest payments. I had received an email on 20th Feb: "You are receiving this email as you are a current Lender in a loan or loans whose interest payment dates (IPD's) fall on the 29th, 30th or 31st of the month. <<List of loans including Rom* Ind* >> Due to the accrued interest calculation when loans are bought and sold on the Proplend Loan Exchange (PLE), please be advised that such loans will be ineligible to be sold during the period from 26th February till 1st April. If you have already placed such a loan on the PLE, it will be removed during that period and then automatically reapplied. Full interest will still be payable on these loans during that period, they will just not be eligible for the PLE." Leap year nonsense, the software company must be wanting a fortune to fix it.
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sapphire
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Post by sapphire on Mar 9, 2024 7:44:16 GMT
Leap year nonsense, the software company must be wanting a fortune to fix it.
I believe there was a similar restriction during March 2023 too, for loans with interest payment dates falling on the 29th, 30th & 31th. So appears to be an annual Feb issue, due to days in the month being less than 30.
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eeyore
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Post by eeyore on Mar 28, 2024 10:00:10 GMT
Update on exchange loans. Although there is about the same amount(£s) of loans on the exchange there are signs that sub 7% interest loans are gradually selling. There appears to have been a substantial injection of funds into the PLE in the last week - there are now only five loans available (plus the "end-of-the-month loans" locked until April) - even the Wolverhampton loan which has been £100k+ for months has had more than £60k invested. With more money sloshing around, Proplend might be tempted to reduce the interest rates on new loans!
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Post by overthehill on Mar 28, 2024 10:18:03 GMT
very odd given the low rates compared to the loans in the (albeit slow) pipeline
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Post by gramsky on Mar 28, 2024 10:51:19 GMT
Update on exchange loans. Although there is about the same amount(£s) of loans on the exchange there are signs that sub 7% interest loans are gradually selling. There appears to have been a substantial injection of funds into the PLE in the last week - there are now only five loans available (plus the "end-of-the-month loans" locked until April) - even the Wolverhampton loan which has been £100k+ for months has had more than £60k invested. With more money sloshing around, Proplend might be tempted to reduce the interest rates on new loans! Don't forget 9 loans have been removed from the PLE until beginning of April because their interest payment date falls on 29th, 30th or 31st of the month. They will automatically reappear after 1st April. This has probably caused the remaining loans to sell faster.
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Post by uksoul on Mar 31, 2024 19:04:05 GMT
I was surprised all my loan exchange loans sold this weekend Inc one on sale for nearly 3 mths. 5.4 - 6.3 % interest rate, all tranche A.
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hubert
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Post by hubert on Apr 6, 2024 11:49:47 GMT
Walsall 8.35% Tranche A £1000.70 available on secondary market. 12.45 6/4/24 Not mine, I would have had it, but for funds in account.
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eeyore
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Post by eeyore on May 1, 2024 16:00:06 GMT
The PLE is empty!
I never thought I'd see the day when the Wolverhampton O*** loan would be down to zero from its peak of >£150k last year: today is that day...
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Post by Ace on May 1, 2024 16:15:15 GMT
The PLE is empty! I never thought I'd see the day when the Wolverhampton O*** loan would be down to zero from its peak of >£150k last year: today is that day... I noticed that it was empty a day or so ago, then a small chunk of that loan popped up again. Perhaps the seller has changed tack to try and sell it in smaller chunks.
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