JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323 
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Post by JamesFrance on Aug 2, 2014 13:36:06 GMT
Have you still managed to sell anything since the premiums were increased to up to 40% and the resale market was flooded with rescheduled loans appearing as current with no penalties unless you dig deep?
I don't understand why they did that.
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james
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Post by james on Aug 2, 2014 18:48:18 GMT
FWIW I haven't tried to sell at above 5% yet. I did recently buy one of the rescheduled loans. It was rescheduled to more affordable payments. The rescheduling header appeared as usual in the resale details at the top of the payment history part.
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james
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Post by james on Oct 17, 2014 22:04:10 GMT
I've now sold some rescheduled formerly defaulted loan parts at 40% premium with estimated buyer return in the 88-98% range. Low value pieces, less than €5 remaining each.
I've done that once before some time ago when the premium cap was 5%. The previously defaulted borrower fully repaid the whole amount and all penalties. The people who bought the pieces of that loan got a good deal.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Oct 18, 2014 6:50:43 GMT
The buyer could be an experienced Bondora investor who is a gambler, but could well be someone new to the platform who sees the headline return and doesn't understand the risks involved. I think that the resale market needs a prominent warning about those rescheduled defaulted loans being shown as up to date.
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duck
Member of DD Central
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Post by duck on Oct 18, 2014 10:47:17 GMT
I sold a couple of rescheduled at -11% others didn't sell (not surprised) and knock me down with a feather a couple of those that hadn't made any payments before they were rescheduled have now gone over the 60 days.
I'm expecting a few more in the near future.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Oct 18, 2014 12:56:13 GMT
In the last 6 months my defaults have trebled even though there have been many rescheduled loans. Anyone new to Bondora can read about which loans have the problems on their own forum.
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james
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Post by james on Oct 18, 2014 13:46:18 GMT
The buyer could be an experienced Bondora investor who is a gambler, but could well be someone new to the platform who sees the headline return and doesn't understand the risks involved. I think that the resale market needs a prominent warning about those rescheduled defaulted loans being shown as up to date. Could be both since I have sold many parts of the same loan, one from when it was possible to have many profile matches for the same loan. Four different buyers. One has bought on three different days. The note about the loan being rescheduled is very prominent if you open up the loan details in the resale market. So are the notes about defaulting and bailiff action in the collections part of that information.
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JamesFrance
Member of DD Central
Port Grimaud 1974
Posts: 1,323
Likes: 897
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Post by JamesFrance on Oct 18, 2014 14:48:12 GMT
I just remember last year when I first joined isePankur I invested about 10000€ quickly by buying on the secondary market. That would have taken for ever if I had examined each loan in detail and I relied on loans shown green being up to date. I was lucky then but would have been in big trouble doing that now.
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