bababill
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Post by bababill on Sept 23, 2021 3:45:50 GMT
Anyone receive emails indicating what new loans might go live soon? I was not in the recent police station redemption.
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Post by Ace on Sept 23, 2021 7:56:25 GMT
Anyone receive emails indicating what new loans might go live soon? I was not in the recent police station redemption. They said the B* restaurant was due to go live next week, but looks like that was a mistake as it's already funded.
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Post by uksoul on Sept 23, 2021 8:23:58 GMT
Anyone receive emails indicating what new loans might go live soon? I was not in the recent police station redemption. Peterborough loans, The Strand and Hinckley are meant to go live soon
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Post by Ace on Sept 30, 2021 13:53:42 GMT
For those that haven't received one of today's two repayments, they are reporting that the next loan to go live will be N* C* M* U* next week.
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huxs
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Post by huxs on Oct 1, 2021 7:55:28 GMT
So unless I am mistaken I have not received any part of any of the last 4 loans via manual Autolend am I really unlucky (and I know luck should not have anything to do with it they use a "sophisticated algorithm" ) or is the only way to invest in proplend now to use the fully auto lend function and give up any control ?
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Post by Ace on Oct 1, 2021 8:09:58 GMT
So unless I am mistaken I have not received any part of any of the last 4 loans via manual Autolend am I really unlucky (and I know luck should not have anything to do with it they use a "sophisticated algorithm" ) or is the only way to invest in proplend now to use the fully auto lend function and give up any control ? I only lend via the manual autolend. I got a £1k allocation in the last 2 loans, but I rarely use tranche A.
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Post by uksoul on Oct 1, 2021 8:34:43 GMT
So unless I am mistaken I have not received any part of any of the last 4 loans via manual Autolend am I really unlucky (and I know luck should not have anything to do with it they use a "sophisticated algorithm" ) or is the only way to invest in proplend now to use the fully auto lend function and give up any control ? 0 out of 4 is shocking....I never got any of the last loan and was surprised as usually that amount of tranche B I get a slice. Try again and if fail have a word with the office.
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bababill
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Post by bababill on Oct 2, 2021 0:16:20 GMT
The upcoming Strand Refinance is changing from a term loan to a 18 month interest reserve loan (plus 3 month cushion). I wonder why? Would it be safe to presume they are having trouble financing the interest? However seems unlikely since all payments have been made on time.
Also one of the directors was terminated yesterday however I suspect this is a non issue.
However accounts are very very late too.
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Post by uksoul on Oct 2, 2021 1:46:42 GMT
The upcoming Strand Refinance is changing from a term loan to a 18 month interest reserve loan (plus 3 month cushion). I wonder why? Would it be safe to presume they are having trouble financing the interest? However seems unlikely since all payments have been made on time. Also one of the directors was terminated yesterday however I suspect this is a non issue. However accounts are very very late too. It has been changed to a bridging loan with a comforting 21 months interest reserve. Bridging loan covers an upcoming transaction. typically a sale. A lot of accounts are delayed on companies house database due to CV19 affecting staffing levels.
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liso
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Post by liso on Oct 2, 2021 8:08:16 GMT
So unless I am mistaken I have not received any part of any of the last 4 loans via manual Autolend am I really unlucky (and I know luck should not have anything to do with it they use a "sophisticated algorithm" ) or is the only way to invest in proplend now to use the fully auto lend function and give up any control ? Likewise, me too. I assumed it was the same for everyone using manual autolend, but seemingly not. Maybe a problem with the algorithm.
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Post by overthehill on Oct 2, 2021 9:35:07 GMT
So unless I am mistaken I have not received any part of any of the last 4 loans via manual Autolend am I really unlucky (and I know luck should not have anything to do with it they use a "sophisticated algorithm" ) or is the only way to invest in proplend now to use the fully auto lend function and give up any control ? Likewise, me too. I assumed it was the same for everyone using manual autolend, but seemingly not. Maybe a problem with the algorithm. so tranche A for peterborough, hinckley, grantham and northampton. Did you get an email telling you that you were unsuccessful for each loan proving you were in the draw? That is 1.4M of tranche A in total but it is possible the fully-on autolend is now taking a progressively larger share of these loans. I'm not sure if the self-select autolend gives priority to investors who don't have a fully on autolend allocation already.
The autolend could also be at fault, I haven't road tested it since it was introduced, I doubt it is bug free.
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eeyore
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Post by eeyore on Oct 2, 2021 10:04:48 GMT
Likewise, me too. I assumed it was the same for everyone using manual autolend, but seemingly not. Maybe a problem with the algorithm. so tranche A for peterborough, hinckley, grantham and northampton. Did you get an email telling you that you were unsuccessful for each loan proving you were in the draw? That is 1.4M of tranche A in total but it is possible the fully-on autolend is now taking a progressively larger share of these loans. I'm not sure if the self-select autolend gives priority to investors who don't have a fully on autolend allocation already.
The autolend could also be at fault, I haven't road tested it since it was introduced, I doubt it is bug free.
You can't be both! Auto-Lend on an account can be set up for either Always-On (TrancheA only and where you have no control over what your funds are invested in) or Self-Select (any tranche that's made available after the Always-On allocation has been made, but you do have a choice of where your funds go). If you change from Always-On to Self-Select, you can't switch back to Always-On for 30 days.
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bababill
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Post by bababill on Oct 3, 2021 1:34:00 GMT
Northhampton has not run yet for self select.
I received none in full autolend for Peterborough FYI. So having full autolend on does not automatically warrant a slice.
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Post by uksoul on Oct 3, 2021 9:33:38 GMT
Northhampton has not run yet for self select. I received none in full autolend for Peterborough FYI. So having full autolend on does not automatically warrant a slice. I thought you guaranteed a slice of Tranche A if fully on autolend.
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eeyore
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Post by eeyore on Oct 3, 2021 10:18:20 GMT
Northhampton has not run yet for self select. I received none in full autolend for Peterborough FYI. So having full autolend on does not automatically warrant a slice. I thought you guaranteed a slice of Tranche A if fully on autolend. No, I'm afraid not! Proplend reserve the right, and have exercised that right, not to allocate all TrancheA funds to Auto-Lend Always-On accounts even when some Always-On accounts have received no allocation, in order to offer funds to Auto-Lend Self-Select accounts. Effectively, Always-On accounts do NOT necessarily have priority over Self-Select. Back in April when this problem first occurred, there was an exchange with Proplend on this issue. The full text of the exchange is in the members-only DDCentral Discussion forum, but here's a summary: P2P-lender: With large volumes of cash competing for slices of small loans on Proplend, the way in which Proplend allocates lenders' funds is a current issue, with many lenders getting no allocation; in the last few months, a lender using Auto-Lend's "AlwaysOn" option would expect to get only half of all the offered loans. In the latest loan, some AlwaysOn lenders got nothing despite missing-out on the previous loan too, but funds were offered to "Self-Select" lenders. Proplend: ".... we have had to limit the amount to Always On and Self Select on these smaller loans in the interests of fairness".
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