littleoldlady
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Post by littleoldlady on Apr 22, 2017 18:08:58 GMT
I have 18 loans. Over recent days the queue has got longer on 8, gone down on 6 and 3 are unchanged at zero. The total has gone down from£947,863 to £903,144. You can only find the queue length* if you hold the loan so unless someone has been smart enough to hold at least a penny in every loan nobody can check the overall position. But between us we can. I imagine many of us keep track of the lengths for out own portfolios. So why not post your personal stats here, so we can all share? Speed of change is at least as important as actual length so regular posts would be best. I did try to paste the actual figures from my spreadsheet here but all formatting was lost. I expect some of you smart guys will know how to make it readable. *Edit: I mean the relevant queue length, which is the part in front of you in the queue at the moment of looking. The question is, when considering selling, is it is worth foregoing interest for a while or whether it would just be a waste of time and money. Thanks nick |
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hazellend
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Post by hazellend on Apr 22, 2017 20:41:36 GMT
you can also look at investor activity and see that a loan has had no buyers for multiple days.
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nick
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Post by nick on Apr 22, 2017 21:27:08 GMT
"You can only find the queue length if you hold the loan....." - isn't the queue length is given under the available loan tab (except where some of the original PM loan has yet to be sold by SS in which case your sale will take precedence)? I assume you must mean the rate of selling/buying of each loan?
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littleoldlady
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Post by littleoldlady on Apr 23, 2017 7:35:37 GMT
you can also look at investor activity and see that a loan has had no buyers for multiple days. Fair point. That will tell you in some cases that there is no point in putting your loan up for sale. But there may be other loans where there is some investor activity but selling a loan will still take a long time. You can see the queue length when you offer the part up but there is no indication from that as to how long a sale might take.
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Post by lendinglawyer on Apr 23, 2017 8:57:19 GMT
Don't you think it's disgraceful how long some queues are? Come on Lendy clear them out! It's ridiculous to expect people to hold to term. Lendy should guarantee a sale after say 7 days of sitting in the queue.
#tongueincheek
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Post by p2plender on Apr 23, 2017 10:01:01 GMT
A look at the 'default list' tells me people don't want to hold much to term!
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Post by smrutib on Apr 23, 2017 10:20:52 GMT
I joined Lendy in the days where you needed to have Olympian level fingers to be able to get anything on the SM. So it feels weird now a days  Btw does anyone know why Lendy doesn't pay interest on loans that are in the queue? If the loan defaults while still in the queue, the seller is still liable right? |
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Liz
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Post by Liz on Apr 23, 2017 10:28:52 GMT
I joined Lendy in the days where you needed to have Olympian level fingers to be able to get anything on the SM. So it feels weird now a days Btw does anyone know why Lendy doesn't pay interest on loans that are in the queue? If the loan defaults while still in the queue, the seller is still liable right? A lot of people on here called for interest not to be paid on unsold loans, why? It helped shorten queues as only serious sellers would list their loans. Is it fair? Who knows. Without this rule would queues be longer? Yes a lot longer.
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jcb208
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Post by jcb208 on Apr 23, 2017 10:32:40 GMT
Well if interest was being paid on loans which were up for sale I for one would have a lot more of my older loans put up for sale ,so yes queues would be a hell of a lot longer then now .
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adrianc
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Post by adrianc on Apr 23, 2017 11:20:22 GMT
I joined Lendy in the days where you needed to have Olympian level fingers to be able to get anything on the SM. So it feels weird now a days Btw does anyone know why Lendy doesn't pay interest on loans that are in the queue? If the loan defaults while still in the queue, the seller is still liable right? A lot of people on here called for interest not to be paid on unsold loans, why? It helped shorten queues as only serious sellers would list their loans. Is it fair? Who knows. Without this rule would queues be longer? Yes a lot longer. Hmm. I wonder... The SM queue for any loan is currently made of two queues. The lender queue, and behind it the Lendy PM-leftovers/repo queue. So why not have three queues? Add a middle queue - the "with-interest" queue. So if you want to sell quickly, you list in the front queue - the "without interest" queue. If you'd like to sell, but aren't in a hurry, then you list in that middle queue. Finally, behind it all, Lendy's queue.
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vmail
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Post by vmail on Apr 23, 2017 11:21:32 GMT
Don't you think it's disgraceful how long some queues are? Come on Lendy clear them out! It's ridiculous to expect people to hold to term. Lendy should guarantee a sale after say 7 days of sitting in the queue. #tongueincheek I guess you don't understand supply and demand. Currently, there is more supply than demand.
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adrianc
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Post by adrianc on Apr 23, 2017 11:23:58 GMT
Don't you think it's disgraceful how long some queues are? Come on Lendy clear them out! It's ridiculous to expect people to hold to term. Lendy should guarantee a sale after say 7 days of sitting in the queue. #tongueincheekI guess you don't understand supply and demand. Currently, there is more supply than demand. I guess you don't understand sarcasm or hashtags...?
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elliotn
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Post by elliotn on Apr 23, 2017 11:57:22 GMT
A look at the 'default list' tells me people don't want to hold much to term! About 350k out of 9M defaults up for sale suggests a huge 96-97% appetite to hold to term (even alllowing for those that can't be bothered to list because of slow sales).
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Post by lendinglawyer on Apr 23, 2017 12:13:29 GMT
Don't you think it's disgraceful how long some queues are? Come on Lendy clear them out! It's ridiculous to expect people to hold to term. Lendy should guarantee a sale after say 7 days of sitting in the queue. #tongueincheek I guess you don't understand supply and demand. Currently, there is more supply than demand. Wow I just googled "supply and demand". Who knew?! My eyes have been opened. #tongueincheek Being serious re some of the above, the "no interest accrual while in queue" just distorts the market in my view and is pretty hard to justify. I'm not on many sites but I'm not aware of others adopting this approach. That said I am aware of some significantly more complex SMs!!
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SteveT
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Post by SteveT on Apr 23, 2017 12:31:26 GMT
Being serious re some of the above, the "no interest accrual while in queue" just distorts the market in my view and is pretty hard to justify. I'm not on many sites but I'm not aware of others adopting this approach. That said I am aware of some significantly more complex SMs!! BridgeCrowd opted for the same approach, although demand there currently far exceeds supply so SM offers don't last long. IMO, payment of interest on parts listed for sale would materially benefit "active" lenders over less attentive types and inevitably lengthen selling queues as a result. Consider an attentive soul with a large stake in a loan that has a significant selling queue. They could list say 10% of it for sale every day or two until all of their holding is spaced through the queue, then decide as their first part nears the front whether there's anything worth selling it for. If not, they de-list that part and immediately list it again at the back of the queue. Anyone attempting this currently has to de-list all parts by month-end (else lose the interest) before starting again as soon as the interest run is paid.
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