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Post by betterthanworking on May 13, 2015 10:34:47 GMT
Turnover has been falling for the last few months, and in April was only 7k. What's going on? Though I must admit the loan parts on offer are not that tempting. Data HERE
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SteveT
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Post by SteveT on May 13, 2015 10:40:13 GMT
My guess is that majority of investors are so fed up with the useless user interface of the ReBS SM that they've given up even looking for microloans. How hard can it be to include an ability to filter for rates and for levels of premium / discount across the loan book? Also to stop the loans list resetting to "unsorted" every time you filter and then look at a loan. I like a lot about ReBS but the SM functionality is a disaster area. Inevitably an illiquid SM discourages many from investing and severely limits the level of investment for those that do.
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Post by betterthanworking on May 13, 2015 16:49:56 GMT
True enough, but that's not a new thing, so should not alter activity levels.
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Post by shadoh on May 14, 2015 15:23:57 GMT
including the points you've raised, it could be there are more loan opportunities compared to last year, and to have to check all these companies out, is a lengthy job.
I have sold some recently.
I think it would be good if you could sell your loan in parts, ie, on a monthly basis.
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baldpate
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Post by baldpate on May 16, 2015 9:11:59 GMT
including the points you've raised, it could be there are more loan opportunities compared to last year, .... Loan origination is slightly up on this time last year, but not massively so. I'm going by the close dates of loan auctions that were filled and subsequently accepted and successfully drawn down : on that basis, in Q1/2014 there were 16 loans, and in Q1/2015 there were 17 loans. In Q2/2014 there were 20 loans; so far in Q2/2015 there have been 10 loans (with a further 7/8 possibles before the end of this month), so the numbers for Q2 are on track to exceed current quarter last year, but not hugely.
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Post by shadoh on May 16, 2015 11:28:22 GMT
probably a mixture of the bad interface/search options, and also, people asking for high premiums. if people really want out they shouldn't be trying to gain on a sale! im gonna give my microloans a few sale pushes see if it makes any difference!
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markdirac
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Post by markdirac on May 18, 2015 20:34:10 GMT
Plus .. there's an increasing amount of not-constructive whinging and scaremongering, compounded by unhelpful, meaningless thread titles.
For example, the mushroom-grower pays reliably late each and every month. He cannily leaves payment until the last minute, because his contract with ReBS allows him to. And he's taciturn. But the resulting reams and reams of Q&A comments would put off any purchaser.
I reckon we're seeing more of this to an extent which correlates with the "plummeting" secondary market volumes?
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Post by shadoh on May 18, 2015 20:44:58 GMT
I tend to ignore some of the comments however it is a good feature, i think...
i've sold at least 4 or 5 loan parts over the last few days, so it is active, plus i am also buying from secondary market.
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Post by jh on May 19, 2015 8:38:14 GMT
Plus .. there's an increasing amount of not-constructive whinging and scaremongering, compounded by unhelpful, meaningless thread titles. For example, the mushroom-grower pays reliably late each and every month. He cannily leaves payment until the last minute, because his contract with ReBS allows him to. And he's taciturn. But the resulting reams and reams of Q&A comments would put off any purchaser. I reckon we're seeing more of this to an extent which correlates with the "plummeting" secondary market volumes? I believe the Q&A feature during the orignal application process is invaluable (from a broker's point of view) to assist in helping investors feel comfortable with a loan, albeit it sometimes frustrating when personal opinions, and pointless / blatant attempts at putting investors against a loan when an individual has decided its not for them. The latter is common from one or two regular users who I do believe imagine themselves sat in the famous chairs in Dragons Den ! This having been said, once a loan has closed I belive the discussion forum should be closed, with the only update being possible from ReBS or their representative (i.e. collections agency/loan introducer) to advise on updates as to when Drawdown will take place and in the event of late payment updates as to what is being done about it.
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Post by shadoh on May 19, 2015 10:41:37 GMT
I agree with the above Q&A - it's surprising how little q&a there is on other platforms (and some None at all!) that makes ReBs a better platform imo as more info to the investor, instead of a 'trust me' approach that other platforms showcase.
just sold another 10 microloans,
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Post by betterthanworking on May 19, 2015 10:58:02 GMT
Well, it looks like they have improved the layout of the micro loans tab; now with added discount/premium column. Thumbs up to that.
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SteveT
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Post by SteveT on May 19, 2015 11:27:17 GMT
Well, it looks like they have improved the layout of the micro loans tab; now with added discount/premium column. Thumbs up to that. Yes, that's a big help. It seems also that loans now open in a new window (when clicked on from the SM page) which keeps your loan list filtering / sorting intact. If ReBS can now add the ability to filter loans by minimum Buyer's Rate offered and by maximum Seller's Premium offered, the ReBS SM might really pick up.
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Post by escastro on May 20, 2015 18:54:38 GMT
Well, it looks like they have improved the layout of the micro loans tab; now with added discount/premium column. Thumbs up to that. Yes, that's a big help. It seems also that loans now open in a new window (when clicked on from the SM page) which keeps your loan list filtering / sorting intact. If ReBS can now add the ability to filter loans by minimum Buyer's Rate offered and by maximum Seller's Premium offered, the ReBS SM might really pick up. Thank you so much for all your feedback, we've been trying to implent changes on secondary market to make user experience better... And we'll add more soon. Kind regards, Evelyn
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Post by betterthanworking on Jun 2, 2015 13:16:58 GMT
escastro, It would make a huge difference if accrued interest up to the date of the sale remained with the seller. Some of these loans with high teen interest rates give monthly payments that exceed a reasonable premium and site fees combined. I've found myself putting loans up for sale at 'reasonable premium', then deciding to remove them two weeks later because I would make a loss if they sold just before payout — all too much hassle. It probably restricts buying activity too; folk delay buying until just before payout day, but by then the micro loan in question may have been removed from sale, or repriced upwards to compensate. Another dissuasive aspect of the system is that the (new) individual loan windows generated from the SM page take 12 to 15 seconds to open (on my platform (Safari on Mac) anyway), but it really would make a big difference when 'window shopping' the secondary market if this was a bit quicker. Reading back, that all seems like I'm having a moan, but it's not the intention; I am trying to be constructive, as I like ReBS and want it to thrive :-) By the way, the ReBS website now shows micro loan trading for April to be 15k, not the 7k which was shown half way through May when I started this thread, so there is obviously some time-lag in data being incorporated into that graph.
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SteveT
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Post by SteveT on Jun 2, 2015 13:40:49 GMT
Another dissuasive aspect of the system is that the (new) individual loan windows generated from the SM page take 12 to 15 seconds to open (on my platform (Safari on Mac) anyway), but it really would make a big difference when 'window shopping' the secondary market if this was a bit quicker. Just tried this on my PC (running Chrome) and it only takes 3 to 5 seconds to open a loan window from the SM page. I hadn't noticed it to be a problem as this is no slower than most of the other ReBS pages are to open (which, admittedly, are frustratingly slow versus other platforms).
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