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Post by gaspilot on Dec 24, 2014 10:30:06 GMT
Excuse my ignorance but what exactly is a shadow bid?
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Dec 24, 2014 10:35:55 GMT
Excuse my ignorance but what exactly is a shadow bid? It is where a platform allows you to take a position in a loan without having yet put the money into your account. They are trusting you to provide the money when they request it in time for the loan to be drawn down by the borrower. This is provided as an option occasionally by FS, usually for larger amounts, because lenders might be less likely to leave larger amounts languishing with no interest being paid in a loan that might take some time to fill and/or draw down. If a loan is likely to be filled and drawn quickly this isn't so much of a problem and the facility isn't offered.
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Post by gaspilot on Dec 24, 2014 10:38:59 GMT
Excuse my ignorance but what exactly is a shadow bid? It is where a platform allows you to take a position in a loan without having yet put the money into your account. They are trusting you to provide the money when they request it in time for the loan to be drawn down by the borrower. Thanks Rose.
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vmail
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Post by vmail on Jan 11, 2015 13:46:03 GMT
How do you place a shadow bid?
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mikes1531
Member of DD Central
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Post by mikes1531 on Jan 11, 2015 14:14:08 GMT
How do you place a shadow bid? You send an email to FS. Shadow bids are allowed on only some auctions. When they are allowed, the email address to be used to make them is specified on the website page showing the details of the loan.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Jan 11, 2015 14:15:51 GMT
How do you place a shadow bid? : you need to e-mail funding secure informing them of the loan and the shadow bid amount you wish to place. They will add this to the total shadow bid amount and then e-mail you when they require the bid to be funded.Hope this helps.
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