eeyore
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Post by eeyore on Apr 21, 2021 17:42:25 GMT
Just got the email that this loan is available for Self Select... No mention of AutoLend Always On... How does this work??? Maybe the Always-On allocation hasn't run yet - unsuccessful Always-On lenders get no email, only those that have been successful. Has anyone had a TrancheA allocation email? But in the previous loans, the Self-Select availability email has always followed the Always-On allocation. On the assumption that all of this latest loan has been gobbled by the Always-On allocation, what's the point of issuing the Self-Select availability email if there's nothing left? Frustrating lenders surely is counter-productive, unless Proplend deliberately want to thin the ranks of the current lenders?
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sapphire
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Post by sapphire on Apr 21, 2021 17:45:30 GMT
After getting nothing of TrancheA with the Spalding loan, I've got nothing on the next, the new Grantham loan either! Grrrr! There must be a large customer base on Proplend now. I have received the email that "self-select" is now active for this loan. As in previous loans, this email has presumably been sent after the "Always on" allocation? if some with "Always on" have nothing allocated, this would mean that the loan has been fully subscribed within "Always on". Is this correct or is there a percentage of the allocation reserved for 'self-select'? What is the point of sending this email and inviting funds to be deposited by cob tomorrow if nothing is available for self-select? *Edit* crossed with eeyore
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hantsowl
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Post by hantsowl on Apr 21, 2021 17:55:29 GMT
After getting nothing of TrancheA with the Spalding loan, I've got nothing on the next, the new Grantham loan either! Grrrr! There must be a large customer base on Proplend now. Same for me. Only seem to get a slice of loans larger than £1000000. Makes you wonder if the smaller loans are reserved for a select group of investors 🤔
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Post by overthehill on Apr 21, 2021 18:22:25 GMT
Proplend have made a dog's dinner of Autolend 2.0, I think they are in denial that it was a smooth transition, they've solved the wrong problems.
Nowhere in the communication did it make clear that ALWAYS ON would take priority over SELF-SELECT for every loan, they just said the same token based system would be used. That's pretty meaningless when ALWAYS ON runs first and allocates the whole loan e.g. imagine if the next 10 loans are 250k, don't bother logging in and enabling SELF-SELECT.
There was nothing wrong with Autolend 1.0, it just required a couple of tweaks - add Tranche B and C selections and separate the primary market and secondary market, or just make the secondary market manual only like most other platforms. And use 3 or 6 queue tokens depending on whether it is primary market only or primary+secondary market.
They have created a 2 tier system, first class if you're willing to fly every time or second class if you want to choose your airline based on their safety record, they have just alienated existing investors. It's given me a reason to reduce my exposure so I haven't been paying much attention to it so far.
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Post by uksoul on Apr 21, 2021 19:24:22 GMT
It's mentioned in the self select email that this loan is small and not everyone will get a slice of the pie. There won't be much availability for self select. If it was all taken by auto lend round 1, self select emails should not be sent out. There are far more investors than a year ago for sure.
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ukinvestor
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Post by ukinvestor on Apr 23, 2021 9:16:45 GMT
I got one via self select...how strange...
I expected the lot to be taken up by Always On...
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Post by uksoul on Apr 23, 2021 10:41:37 GMT
I got one via self select...how strange... I expected the lot to be taken up by Always On... Was that by auto-lend self select ?
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Post by overthehill on Apr 23, 2021 11:50:05 GMT
I also got one from self-select (autolend) which I wasn't expecting based on loans of this size since autolend 2.0 went live. I'm guessing their 'token' from the previous loan must have stopped just before my position in the list.
As for why always-on (autolend) didn't fill this loan ? I haven't been paying much attention to the detail as I can't be bothered with it, but could be previous loans have now used up :
1) all the funds from recent repaid loans 2) new deposits from investors when autolend 2.0 went live 3) large chunks from recent repaid loans. Maybe some of these investors roll over into the next loan rather than mess about diversifying.
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Post by uksoul on Apr 23, 2021 12:56:39 GMT
I also got one from self-select (autolend) which I wasn't expecting based on loans of this size since autolend 2.0 went live. I'm guessing their 'token' from the previous loan must have stopped just before my position in the list.
As for why always-on (autolend) didn't fill this loan ? I haven't been paying much attention to the detail as I can't be bothered with it, but could be previous loans have now used up :
1) all the funds from recent repaid loans 2) new deposits from investors when autolend 2.0 went live 3) large chunks from recent repaid loans. Maybe some of these investors roll over into the next loan rather than mess about diversifying.
I hada feeling they'd be some on left on auto self select but none on the manual self select. You made valid points why it didn't fill up on auto lend. Maybe also the ROI not attractive enough which is why i skipped it, 7% minus 10%. Can easily get 7.2 - 7.44 % with no fee elsewhere. I focus on loans around 8.5% + with Proplend.
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ukinvestor
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Post by ukinvestor on Apr 23, 2021 13:02:40 GMT
I got one via self select...how strange... I expected the lot to be taken up by Always On... Was that by auto-lend self select ? Yes.
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eeyore
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Post by eeyore on Apr 24, 2021 9:40:20 GMT
Was that by auto-lend self select ? Yes. I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable?
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Post by uksoul on Apr 24, 2021 9:50:43 GMT
I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable? You never got a slice of A with Always On ? Mmmm You need to get in touch with Proplend and ask why. I assumed you'd get a slice of A - all the time providing funds were in place.
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Post by Ace on Apr 24, 2021 10:04:01 GMT
I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable? Seems entirely reasonable to me. Would be good to hear Proplend's explanation so that we can properly understand the platform's mechanics.
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hantsowl
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Post by hantsowl on Apr 24, 2021 12:15:31 GMT
I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable? I also failed to get a slice in my account with autolend ‘always on’. proplend Why are self-select accounts allocated loans when always-on accounts are missing out? This is not what was implied by the new code changes.
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Post by uksoul on Apr 24, 2021 12:51:39 GMT
I think I'm entitled to feel aggrieved then! If as an Auto-Lend 'Always-On' client of Proplend, I'm obliged to keep at least £1,000 in my account at all times and to accept any loan (primary or secondary) which Proplend offers, then I expect that I will get priority in the allocation of all TrancheA loans (subject to there being enough to go around all other 'Always-On' accounts). If some part of a TrancheA loan is allocated in a way to leave unfulfilled 'Always-On' accounts in the first allocation round, but is instead set aside for Auto-Lend 'Self Select' accounts, then I believe that the 'Always-On' clients have been misled. Does that seem unreasonable? I also failed to get a slice in my account with autolend ‘always on’. proplend Why are self-select accounts allocated loans when always-on accounts are missing out? This is not what was implied by the new code changes. You'd be better off contacting them direct, they don't really reply here anymore. It's a surprise always on lenders are left out considering you're leaving your accounts in credit with the promise of first dibs.
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