elliotn
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Post by elliotn on Jun 19, 2017 4:18:23 GMT
The bit I've made bold is a highly brilliant feature of MT. Get to 0 days /term end on certain other platforms and you're stuck trying to sell out if you want rid. You can get locked in. On MT they don't let loans over-run indefinitely, they renew/extend them for a further pre-announced period and at that point you can opt out and get your investment back if you wish. I wonder what would happen under the new T&C/FCA rules (where MT isn't allowed to own any of the loan) if an extension was needed but not filled. I guess that underwriters would be the only option or am I missing something? I don't think that situation has happened yet, but with the SM as it is at the moment... Of course this might be covered in the T&C but escaped my attention.  The closest we have come so far is a recent loan that did not meet the borrower's Friday drawdown requirement and we were told it was still being sold on the primary market (yellow coding) but by a "private individual". The Wigan and Plymouth development tranches have also not yet been funded and presumably the developers will be in need of these funds. MoneyThing what will happen in the future to make it obvious to investors whether we are buying new loan parts through the platform or secondary parts through private individuals and will you allow retail investors' sales to take precedence over underwriter chunks?
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archie
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Post by archie on Jun 19, 2017 6:16:04 GMT
MoneyThing what will happen in the future to make it obvious to investors whether we are buying new loan parts through the platform or secondary parts through private individuals and will you allow retail investors' sales to take precedence over underwriter chunks? I'm not sure I agree with retail sales taking precedence over underwriters. On Lendy it's only fair because all tranches are merged. Someone with a loan part bought months ago should be able to sell before any residue from the current tranche. On MT each tranche is separate. Should someone who has only held the part for a few days be able to sell before any underwritten parts? Private individuals may be less keen to help. Earlier tranches can still be sold, this isn't very helpful while a new tranche is available though. Personally I will always try to take the yellow loans (primary market) over the green (secondary market) as that helps the platform. 
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robski
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Post by robski on Jun 19, 2017 10:36:49 GMT
Totally agree, I cant see why someone helping out the platform by underwriting a loan should loose preference to anyone else.
The loan would arguably not even be saleable for the everyone else (as original loan would not have filled) until this underwriter stepped in.
I think the platform being super liquid may have led people into bad habits, buying too much and flipping rather than buying what they really wanted.
I also buy yellow before green to help the platform.
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moogman
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Post by moogman on Jun 21, 2017 14:53:55 GMT
1) Are there any browser extensions to help me out? Orisk maintains great software for Lendy. Is anything similar available for Moneything? I have one. If there's enough interest, I can probably package it up and throw it out to the forum. Maybe +1 this post or PM me if you are interested, to gauge interest?
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Post by lynnanthony on Jun 21, 2017 18:36:53 GMT
1) Are there any browser extensions to help me out? Orisk maintains great software for Lendy. Is anything similar available for Moneything? I have one. If there's enough interest, I can probably package it up and throw it out to the forum. Maybe +1 this post or PM me if you are interested, to gauge interest? Dumb question probably, but what what does a browser extension do in this context?
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david42
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Post by david42 on Jun 21, 2017 19:58:49 GMT
Dumb question probably, but what what does a browser extension do in this context? On Lendy, Orisk's browser extension provides customised filtering of the loan lists, against criteria we can define. The features are described here.
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am
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Post by am on Jun 21, 2017 21:05:16 GMT
Totally agree, I cant see why someone helping out the platform by underwriting a loan should loose preference to anyone else. The loan would arguably not even be saleable for the everyone else (as original loan would not have filled) until this underwriter stepped in. I think the platform being super liquid may have led people into bad habits, buying too much and flipping rather than buying what they really wanted. I also buy yellow before green to help the platform. Underwriters are paid, in excess of the headline interest rate, for their role. (At least I assume that they are - I don't know for certain what MT's deal with its underwriters is.) The question is whether you think that they're just being paid for taking on the concentration risk, or whether they are also being paid for taking second place in the SM queue as well. The platform has conflicting aims - it wants the underwriters to be able to unwind their positions so that they are available for subsequent loans. But it also wants a liquid secondary market so that lenders in general are less concerned about liquidity risks so they are more willing to take part in loans (making the underwriters unneeded). In principle you could have two or more classes of underwriters, with different fee regimes, with different precedences on the SM (e.g. ahead of lenders, equal to lenders, after lenders).
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archie
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Post by archie on Jun 22, 2017 6:00:10 GMT
But it also wants a liquid secondary market so that lenders in general are less concerned about liquidity risks so they are more willing to take part in loans (making the underwriters unneeded). In this regard it doesn't really help when lenders list earlier tranches of loans while MT are trying to fill the latest tranche (e.g. Wigan). I blame you lot 
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elliotn
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Post by elliotn on Jun 22, 2017 8:01:38 GMT
But it also wants a liquid secondary market so that lenders in general are less concerned about liquidity risks so they are more willing to take part in loans (making the underwriters unneeded). In this regard it doesn't really help when lenders list earlier tranches of loans while MT are trying to fill the latest tranche (e.g. Wigan). I blame you lot On Ly MT would have no choice but to go to the back for unfunded tranches in a single queue, the split at least gives MT a fighting chance for the good hearted to buy from the yellow square .
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moogman
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Post by moogman on Jun 27, 2017 9:52:08 GMT
1) Are there any browser extensions to help me out? Orisk maintains great software for Lendy. Is anything similar available for Moneything? I have one. If there's enough interest, I can probably package it up and throw it out to the forum. Maybe +1 this post or PM me if you are interested, to gauge interest? There seemed to be a lot of interest in a browser extension, so here it is: p2pindependentforum.com/thread/9306/moneything-browser-extension :-)
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