merlin
Minor shareholder in Assetz and many other companies.
Posts: 902 
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Post by merlin on Jul 10, 2014 15:54:43 GMT
Oh well. They didn't do what I thought they would do instead they popped out a medium sized property deal at 8% and no cash back! I wonder how long this one will take to fill? Still got the 2% cb picture on the listing page and states it in the 'Loan Requests' list. (assuming it's 6879 we're talking about) Are you seeing something I'm not, or do we put it down to your fuddyitus playing up again?  Yes must be the fuddyitus again. However I would swear there was no 2% on the item when it first went up. That's what is called negative hallucination another indication either of a trance state or very advanced fuddyitus. However at my great age I am lucky to hit the right keys on the keyboard most of the time!
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Post by GSV3MIaC on Jul 10, 2014 16:42:02 GMT
The floodgates seem to be letting through a lot of dross though ... 6892 seems to have been cancelled (but is still 10% government funded!!), and 6867 seems to have vanished without trace. I guess it's 'never mind the quality, feel the width'.
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Post by GSV3MIaC on Jul 10, 2014 18:17:31 GMT
Ah, looks like they added the fees back in to the loan amount .. not usually a good sign!
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jm72
Posts: 109
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Post by jm72 on Jul 10, 2014 18:19:11 GMT
Ah, looks like they added the fees back in to the loan amount .. not usually a good sign! It was a whole loan - not quite sure how the 'three hour' window will allow FC to pick up issues like this!
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jm72
Posts: 109
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Post by jm72 on Jul 10, 2014 18:21:28 GMT
And the floodgates are well and truly open. To be fair - FC has been listing 20+ loans for most of this week. It's just that 50% of them are going to Whole Loans. Today for new loans (i.e. not those rejected as Whole Loans) - 31 new loans of which 15 whole loans and 16 on auction. Add in the 5 or so rejected Whole Loans and you get to 20 loans for us to play around with!
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baldpate
Member of DD Central
Posts: 549
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Post by baldpate on Jul 10, 2014 20:54:07 GMT
To be fair - FC has been listing 20+ loans for most of this week. It's just that 50% of them are going to Whole Loans. Today for new loans (i.e. not those rejected as Whole Loans) - 31 new loans of which 15 whole loans and 16 on auction. Add in the 5 or so rejected Whole Loans and you get to 20 loans for us to play around with! How do you work out that there are 15 whole loans running (but not visible to us mere mortals) + 5 rejected (now on offer to us)? Do you do it by tracking the loan numbers, and count the 'holes'in the sequence? Or do FC actually provide this information somewhere I don't know about? Understand, I'm not questioning your figures - I'd just like to know how you do it!
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jm72
Posts: 109
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Post by jm72 on Jul 11, 2014 8:53:58 GMT
To be fair - FC has been listing 20+ loans for most of this week. It's just that 50% of them are going to Whole Loans. Today for new loans (i.e. not those rejected as Whole Loans) - 31 new loans of which 15 whole loans and 16 on auction. Add in the 5 or so rejected Whole Loans and you get to 20 loans for us to play around with! How do you work out that there are 15 whole loans running (but not visible to us mere mortals) + 5 rejected (now on offer to us)? Do you do it by tracking the loan numbers, and count the 'holes'in the sequence? Or do FC actually provide this information somewhere I don't know about? Understand, I'm not questioning your figures - I'd just like to know how you do it! Automated download of loan request pages using excel functionality (no need to be logged in) and population of spreadsheet to keep track of loans. Whole loans assumed to be those which don't appear (so if one loan number is 6891 and next is 6896 - there were 4 Whole loans in between). Then if loans appear later (e.g 6867 & 6868 - which was listed on 17th July, where 6866 and 6869 were listed on 16th July), then these are rejected Whole Loans. It's not perfect - I missed 6888, which was listed, closed and taken before I noticed. This came through in the Loan Book last night (not available directly, but see my post under 'death of loan book' for a link). Whole Loans are identifiable in there as having 'Loan Parts' = 1.
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markr
Member of DD Central
Posts: 766
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Post by markr on Jul 11, 2014 9:20:23 GMT
Not completely reliable, even before whole loans there were gaps in the numbers, I assume there was a stage between the loan number being allocated and it appearing on the website when the borrower could bale out (the very last "Are you sure you want to do this").
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mikeb
Posts: 1,072
Likes: 472
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Post by mikeb on Jul 11, 2014 9:30:08 GMT
... and the occasional "mind the gap" moments when the loan numbers were wound on by 50-100 for no apparent reason (maybe to start on round numbers for a cashback or other internal system fiddlings) -- this used to happen long before the "whole loans" system.
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jm72
Posts: 109
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Post by jm72 on Jul 11, 2014 10:39:34 GMT
Not completely reliable, even before whole loans there were gaps in the numbers, I assume there was a stage between the loan number being allocated and it appearing on the website when the borrower could bale out (the very last "Are you sure you want to do this"). True - but in my defence, there were similar percentages for the last couple of days (about 50% of all loan numbers not coming up on auction). So unless FC is having an absolute nightmare with listing loans (I wouldn't put it past them), then looks like a lot of loans going to Whole Loans. Anyone know whether Whole Loans are included in the weekly summary on number / amount of loans listed? I'm guessing they probably are.
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Post by GSV3MIaC on Jul 18, 2014 8:08:34 GMT
Back to floodgates, I wonder if we are going to have another new loan drought until FC get all possible autobid money into 6985. Place your bets ...
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oldgrumpy
Member of DD Central
Posts: 5,087
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Post by oldgrumpy on Jul 18, 2014 8:33:32 GMT
How are the "whole loans" presented? Are they at a fixed rate, or do lenders bid down, and how does this compare with current MBR? Are they mainly smaller loans which would have ended up at or near MBR on the open auction market, or are some larger loans involved? Does anyone have an opinion on whether these are the more attractive loans, "security"-wise?
Just curious. Almost given up on FC now - too time consuming when there's sunbathing and fruit consumption to be done.
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Post by davee39 on Jul 18, 2014 9:05:10 GMT
Back to floodgates, I wonder if we are going to have another new loan drought until FC get all possible autobid money into 6985. Place your bets ... I cannot believe it is coincidence that normal loans have dropped from 88 to 68, and a whopping, unattractive, property loan has appeared. It also seems to be filling up nicely so once its gone we may get a temporary uplift. Edit 11.30: Another 600k Property Loan, so now looking for £1.2m over the next two weeks. Of course the property boom will never end.
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Post by GSV3MIaC on Jul 18, 2014 10:29:44 GMT
How are the "whole loans" presented? Are they at a fixed rate, or do lenders bid down, and how does this compare with current MBR? Are they mainly smaller loans which would have ended up at or near MBR on the open auction market, or are some larger loans involved? Does anyone have an opinion on whether these are the more attractive loans, "security"-wise? Just curious. Almost given up on FC now - too time consuming when there's sunbathing and fruit consumption to be done. AIUI (and I'm not privy to bidding on them) they are offered at the (fixed) average rate achieved on the last N loans of that risk band, and it's fastest finger first among the priviledged few bidders .. although FC has intimated that there is some selection such that loans which nobody is going to want don't get offered as whole loans (read all about it in the other place) in the first place. If they don't sell in 24 hours (or maybe 3, that was the goal) they get offered to Joe Public in the usual way. Of course this is all only a 4 week .. ooops .. 3 month (so far) trial, then it's supposed to go a bit more open.
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Post by GSV3MIaC on Jul 18, 2014 11:01:30 GMT
Back to floodgates, I wonder if we are going to have another new loan drought until FC get all possible autobid money into 6985. Place your bets ... I cannot believe it is coincidence that normal loans have dropped from 88 to 68, and a whopping, unattractive, property loan has appeared. It also seems to be filling up nicely so once its gone we may get a temporary uplift. Edit 11.30: Another 600k Property Loan, so now looking for £1.2m over the next two weeks. Of course the property boom will never end. Amazing isn't it ... I suppose it helps them reach their £xM a week quota, but it's not really the sort of loan I signed up to support, and at this rate it'll soon comprise most of my FC portfolio .. there being nowt else much to buy, and the property loans being really sticky when it comes to selling them. Not exactly a shining example of 'space them out sensibly', but at least these don't generate 'website fatigue' at the end of the auctions. Update: Actually I should withdraw my concern, since the number of new auctions picked up quite a bit by the end of the day - looks like there may be something for everyone. Well played FC! Now we'll see if those property loans can actually (both) get funded.
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