Liz
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Post by Liz on Apr 22, 2017 9:11:07 GMT
Some of the loans that are selling have the worst security. It just shows people are playing pass the parcel, a very dangerous game. LTPP will remain an illiquid monster for as long as the default tab is stuffed full of loans where there is seemingly no progress.
3 days 'til 64 hits the default tab.
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r1200gs
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Post by r1200gs on Apr 22, 2017 9:39:58 GMT
Some of the loans that are selling have the worst security. It just shows people are playing pass the parcel, a very dangerous game. LTTP will remain an illiquid monster for as long as the default tab is stuffed full of loans where there is seemingly no progress. 3 days 'til 64 hits the default tab. 64 is a certain default and a massive capital loss that the provision fund will almost certainly not cover, and worse, that could have been seen to be a distinct possibility before we loaned that man a penny. That loan alone should have any investor worrying about lending money on this platform. LfSS were warned loud and clear from several sources, but believed they could dance with the devil and come out smiling. The level of foolish naivety and arrogance is breath taking. As to loans moving, I have several fairly decent 12 percenters for sale and they are going nowhere significant fast and haven't for days
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Post by scerbera on Apr 22, 2017 10:10:26 GMT
I sold 20k on Thursday, 10k went in about 10 seconds, 5k in an hour, and remainder in 8 hours.
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jamesc
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Post by jamesc on Apr 22, 2017 10:18:43 GMT
Some of the loans that are selling have the worst security. It just shows people are playing pass the parcel, a very dangerous game. LTTP will remain an illiquid monster for as long as the default tab is stuffed full of loans where there is seemingly no progress. 3 days 'til 64 hits the default tab. 64 is a certain default and a massive capital loss that the provision fund will almost certainly not cover, and worse, that could have been seen to be a distinct possibility before we loaned that man a penny. That loan alone should have any investor worrying about lending money on this platform. LfSS were warned loud and clear from several sources, but believed they could dance with the devil and come out smiling. The level of foolish naivety and arrogance is breath taking. As to loans moving, I have several fairly decent 12 percenters for sale and they are going nowhere significant fast and haven't for days IMO LfSS are in real danger of killing the golden goose they created, I believe many of the new somewhat ill informed investors some BH'S as well, were attracted to invest because of the super liquid SM and now they cant sell they will panic and rather than adding more money will just want to sell more and more. IMHO if the SM worked like others where you received Interest whilst selling the SM would have at least double the queues. So far Lendy have been lucky with DFL tranche's but at some point the tens of thousands of the same loans on the SM will interfere with them getting those new tranches subscribed, they have also been lucky because some lenders still have a global prefund for all loans which will change at some point. The only way to solve this is to put a hold on new loans or get new investors which on the one side is made easier by a full SM (immediate diversification ) but they are also likely to be put off when they realise that they wont be able to sell when they want out. This also does not address the defaulted loans which in a fairly short time will exhaust the provision fund which means no provision fund will put off new investors.
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jamesc
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Post by jamesc on Apr 22, 2017 10:20:21 GMT
I sold 20k on Thursday, 10k went in about 10 seconds, 5k in an hour, and remainder in 8 hours. Yes there are still a few liquid loans but they represent only a small percentage of the overall universe of loans
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seeingred
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Post by seeingred on Apr 22, 2017 10:24:40 GMT
The SM is reasonably steady at around £2 million of loans that are not already classed as default. It has been here before. What is unusual is that there are large volumes of some quite good loans available and these are not being purchased. A few months ago scraps would have been snapped up in seconds. It somehow feels different this time. A steady SM can mean either complete stagnation (which is not happening) or frenzied trading yet with the overall volume for sale still remaining fixed, or somewhere in between. I suspect the total volume of trading is well down.
064 is a particularly bad example of a valuation that was hopelessly wrong and yet accepted at face value. Once serious capital monies are lost by investors the mood will probably never be the same as it was during the early years. One question is whether the platform can ride out a sustained period of existing people wanting to get out - and without a commensurate number of equally wealthy new investors wanting to participate.
If Lendy can offer a good F-ISA it could take in a lot of money - this has been seen on other platforms. But Lendy has yet to jump through the FCA hoops to enable this to happen?
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ablender
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Post by ablender on Apr 22, 2017 11:14:15 GMT
PBL 155 seems more worrying.
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Post by martin44 on Apr 22, 2017 11:25:27 GMT
PBL 155 seems more worrying. Why are you worried? updates seem positive enough... lots on the SM but security looks ok.
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r1200gs
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Post by r1200gs on Apr 22, 2017 11:40:34 GMT
PBL 155 seems more worrying. Why are you worried? updates seem positive enough... lots on the SM but security looks ok. The updates appear to be nothing much more than passing on what the borrower tells Lendy, probably what the borrower hopes will happen and not necessarily what will happen. Welsh castles are likely to be quite difficult to sell and the LTV, if it's correct, is the full 70 percent. In the case of a default, it is astonishing just how quickly that 30 percent buffer can vanish in costs.
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elliotn
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Post by elliotn on Apr 22, 2017 14:50:41 GMT
I sold 20k on Thursday, 10k went in about 10 seconds, 5k in an hour, and remainder in 8 hours. Yep, sold over 10-15k no probs on dfl22 launch (albeit in minutes rather than nano-seconds).
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elliotn
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Post by elliotn on Apr 22, 2017 14:55:54 GMT
I sold 20k on Thursday, 10k went in about 10 seconds, 5k in an hour, and remainder in 8 hours. Yes there are still a few liquid loans but they represent only a small percentage of the overall universe of loans Enough for me to more than double my investment.
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jomantha
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Post by jomantha on Apr 24, 2017 12:15:14 GMT
I sold or traded 7k in a few hours as well.
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r1200gs
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Post by r1200gs on Apr 24, 2017 12:22:35 GMT
I sold or traded 7k in a few hours as well. If my loans sold in a few hours, I would be questioning my judgment in selling them. I'm not happy when they don't sell, either. I'm just never happy!
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oldgrumpy
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Post by oldgrumpy on Apr 24, 2017 12:40:08 GMT
I sold or traded 7k in a few hours as well. If my loans sold in a few hours, I would be questioning my judgment in selling them. I'm not happy when they don't sell, either. I'm just never happy!
Wanna join my party?
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Apr 24, 2017 12:57:01 GMT
I sold or traded 7k in a few hours as well. If my loans sold in a few hours, I would be questioning my judgment in selling them. I'm not happy when they don't sell, either. I'm just never happy! Judging by my queue lengths the only loans I could sell are ones I only recently bought. If I wanted to sell these I would be questioning my judgment in buying them.
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