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Post by thesnoop on Oct 26, 2015 13:02:23 GMT
I had the same thought regarding the wording of those T&Cs a while back GSV3MIaC. My working assumption is the same as pepperpot ... as long as the 'amount invested' remains above £1K for 12 months from the point where you crossed the £1000 line it would seem counterproductive for the platform to take the bonus back due to diversification of the original portfolio... I would imagine we are stressing about nothing here , but confirmation / tweaking of the T&C wording would be nice .
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Post by thesnoop on Oct 23, 2015 13:10:20 GMT
Nothing happening so far
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Post by thesnoop on Oct 23, 2015 8:51:27 GMT
It finished this morning and was @ 75% funded .
Bids have not been released though so I'm not sure what is going on exactly.
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Post by thesnoop on Oct 23, 2015 7:48:02 GMT
Well that last one s**** s****** could have done with some more underwriting... . G*** *** f******** goes 15k over funded and this one is left 25k short.
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Post by thesnoop on Oct 22, 2015 12:38:46 GMT
m***b**** just dropped 2K in at 11% this morning There was no competition for this one pushing the rate that low, all the filling bids were 13/14% range. Maybe I'm being too cynical here, but it feels like underwriting activity. I can't imagine an investor who throws down 2k a pop investments not having had a look at the going rate and realising he could have put that cash in at 12% or 12.5% tops instead without risking being underbid!
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Post by thesnoop on Oct 14, 2015 14:20:57 GMT
I have seen an explanation of the Algorithm in use for calculating buyer rates on the SM ( Loan Exchange ) in another thread somewhere, so apologies if this question has already been covered. I would like to see an overhaul of the current model of 'checking availability' on the SM, as I find it confusing and time consuming. By this I mean the process of entering an 'Amount you want to invest' without knowing the rate on offer and then manually clicking the big Orange 'Check Availability Button' to find out the Rate available. Due to the nature of the Algorithm, the rate you can achieve varies in an unpredictable fashion with how much you are looking to invest ( as a function of what is on offer from various sellers you cant see .and how the LC algorithm decided to combine their parts to sell to you at a new average rate..) This leads ( In my experience ) to lots and lots of manual entering of various 'Amounts to invest' with a click of 'Check Availability' each time just to see what is really on offer for that Loan on the SM... 1) This is going to cause lots of useless traffic for the website 2) It is confusing 3) It wastes my time as a user 4 ) It requires that I come back and repeat the process on a regular basis to pick up new good deals should more parts come on line at higher rates.... This obfuscation of SM data can't have been part of the original idea, right ? Could we expose what is on offer in a less cryptic way please lendingcrowd ? I'm picturing a condensed table per loan of [SM rates vs Investment amount]. The table could be sort-able by both attributes , allowing users to ascertain headline rates at a glance... Apologies if I am missing anything obvious here.
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Post by thesnoop on Oct 12, 2015 13:58:18 GMT
lendingcrowd : Could we perhaps have a statement from you regarding underwriting activity ? I would like to believe that in-house money would be added only to get struggling loans 'over the line' should they be in danger of not being filled as deadlines approach. As more money is starts to come onto the platform this should be required less often going forward. I would not expect it to be used to push rates down should loans already be filled, in effect competing with your own lenders. This kind of activity would lead to a serious erosion of trust. I for one have put money into the currently running auctions, bidding at rates I have chosen based on my perception of current lender market activity. Taking a hit by putting early underwriter money in at 'low' rates to secure a desirable average for the borrowers seems prudent and fair at this juncture. I do not, however, expect to be outbid by the house at the end of an auction when the loan has filled on it's own. Some sort of confirmation to this effect would be greatly appreciated.
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Post by thesnoop on May 26, 2015 9:16:25 GMT
Finally , three loan part sales at par last night. All different loans and buyers .
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Post by thesnoop on May 20, 2015 14:08:30 GMT
Sitting on 13% Flat Annualised return (after fees and bad debts).
Opened Account in Sept 2014.
Spread across 80 businesses. 6% max exposure. 30% of funds invested in property ( I've seen very few other opportunities worth my while on FC since Jan 2015 ) 25% of Profit so far from Cashback/ SM sales!
No defaults yet ( fingers crossed )
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Post by thesnoop on May 14, 2015 13:11:10 GMT
I dislike when profits repeatedly disappear out of the Ltd Company or partnership ... while they maintain a scary overdraft or some other sketchy balancing act... then use a From Chumps unsecured loan to finance their next great idea.
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Post by thesnoop on May 14, 2015 8:44:06 GMT
Yes the problem is the 24 months compared with 8. If you hold both to term one gives 8% annualised after fees and the other 10%. Also the shorter one will likely sell at a reasonable discount sooner. Have a look at the discount on the SM for the loans with nearly two years to run. Whether a loan closes today or tomorrow is hardly the point, of little consequence at 8%. It would not be such an issue if FC had not stopped Autobid from purchasing property loans on the SM. Has this been confirmed ? I know nothing about the regulations... but would that not be very questionable behavior ? What I do know is that I'm now done with these property offerings until the SM situation changes.
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Post by thesnoop on May 5, 2015 14:59:46 GMT
It's been 3 weeks since I sold an A+ property loan part at par, sniff sniff .
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Post by thesnoop on Apr 13, 2015 17:48:03 GMT
FYI.
12195 listed an hour ago , 8% over 10 months with 2% CB, filling up fairly quickly.
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Post by thesnoop on Apr 7, 2015 21:09:54 GMT
Is anyone having difficulty putting loan parts up for sale on the SM ? Sorry if this has been discussed already, I've been away for a week. After selecting the tick box and all that nothing seems to happen.... , I can get it to put them up sometimes by refreshing the page or going to the summary page and back again o.O , any ideas ?
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Post by thesnoop on Mar 12, 2015 15:41:34 GMT
My worry also. I have exposure to the first tranche too and those parts are not selling too well for me either . That said, there is sweet f*** all else on offer from Funky Chimps these days... I was moving money to AC but recent developments there are not too promising either. Hmm, this pooch is lacking inspiration.
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