Stonk
Stonking
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Post by Stonk on Dec 14, 2018 12:23:29 GMT
I seem to be having a problem in my FC account with "stuck" loans.
On Wednesday afternoon, I had an order on a loan, but the loan "stuck". It was filling nicely (several tens of orders per minute), then suddenly it slowed to a trickle and shortly afterwards stopped dead. It stayed that way until about 11:30am on Thursday, at which point it suddenly came back to life and rapidly filled to completion. Presumably someone at FC had noticed and restarted something.
I wouldn't have minded, except that while this loan was stuck I did not receive any more orders on any other loans. It appeared that the stuck loan prevented my account from further activity. I was certainly expecting some activity: I had 75% available cash, and have been getting a steady stream of new loans all week.
Now, it's the same again today! Yesterday afternoon, 5 loans on which I have orders became stuck (68770, 68777, 68780, 68789, 68790), and since then my account has had zero activity. It's now 12:15pm, I have 65% available cash, and I definitely would have expected something by now.
This is having an unwelcome impact on cash drag. I feel that loans are being listed that I would be eligible for, and I'm missing them while my account is stuck. During much of the loan-listing hours during last two days, I have been rendered inactive.
FC have responded that there is no problem ... probably because they didn't answer until after yesterday's loan was manually unstuck.
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benaj
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Post by benaj on Dec 14, 2018 13:26:16 GMT
Same here, no sign of PM activities today. I have those 5 orders as well, but I am not confident leaving too much new money on FC.
Early December, I got 15 SM loans on one day! Now I only drip feed, acquired 65 PM loans since 3-Dec
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Stonk
Stonking
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Post by Stonk on Dec 14, 2018 14:06:44 GMT
These 5 loans just woke up -- more likely: were woken up -- between 13:48 and 13:51, and then continued filling (quickly).
Within minutes of this happening, I received a new order on a different loan. Clearly my account had been rendered inactive while it contained these stuck loans, thus losing me approximately 4 hours of potential PM activity today out of the usual 8-ish hours in the day.
14:13 - and there's another new order. I'm back in business. Just wish I hadn't been frozen out for half the day. Grrrr.
14:28 - another 2 new orders. How many did I miss out on?
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blender
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Post by blender on Dec 14, 2018 14:18:51 GMT
Oh, that sort of stuck loans. I thought this meant then loans which cannot be sold. Don't worry, I am just selling up my loans, less the 18% by value which cannot be sold today. Soon you will have some lovely seconds to help lend that cash.
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Stonk
Stonking
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Post by Stonk on Dec 14, 2018 14:25:59 GMT
Same here, no sign of PM activities today. I have those 5 orders as well, but I am not confident leaving too much new money on FC. Early December, I got 15 SM loans on one day! Now I only drip feed, acquired 65 PM loans since 3-Dec
I deposited a lump, opened up lending on Monday, and received 70 PM loans in 3 days (before being impacted by the stuck orders).
Drip-feeding is fine (I hate the concept of having excessive unused cash), but it does slow your overall progress down because you'll mostly have a lower proportion of available cash and hence be further down the queue. I can see from the position of my order in the order list, I have been getting in really early on every loan, e.g., for my most recent two I was 63rd out of 1828 and 40th out of 5590.
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Stonk
Stonking
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Post by Stonk on Dec 14, 2018 14:29:57 GMT
Oh, that sort of stuck loans. I thought this meant then loans which cannot be sold. Don't worry, I am just selling up my loans, less the 18% by value which cannot be sold today. Soon you will have some lovely seconds to help lend that cash. I do not want seconds! I want a fresh portfolio of brand new loans as far as possible. Any chance you could let me know when you've finished?
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benaj
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Post by benaj on Dec 14, 2018 14:30:48 GMT
thanks. 70 pm in 3 days is what i expected, but lost confidence when receiving sm loans only and no PM loans in one day
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blender
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Post by blender on Dec 14, 2018 14:47:27 GMT
Oh, that sort of stuck loans. I thought this meant then loans which cannot be sold. Don't worry, I am just selling up my loans, less the 18% by value which cannot be sold today. Soon you will have some lovely seconds to help lend that cash. I do not want seconds! I want a fresh portfolio of brand new loans as far as possible. Any chance you could let me know when you've finished? That used to be wise, but I am not so sure it still applies. I effectively restarted in Jan 18, after years of dodging the duff loans, and these new loans seem far worse performers than before. We also put £20k in a new IFISA in April/May (400 loans) and that claims to have earned a net £770, but if we tried to close it we could not take out what we put in. A lot of that £770 is in lates and will be lost. Risk has gone up, and rewards down. The old loans were better. If they have made a few payments it indicates they may be more honest. If the machine is reluctant to lend your money, it is probably trying to help you. (I'm only selling the last £4k)
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Stonk
Stonking
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Post by Stonk on Dec 14, 2018 14:54:21 GMT
I do not want seconds! I want a fresh portfolio of brand new loans as far as possible. Any chance you could let me know when you've finished? That used to be wise, but I am not so sure it still applies. I effectively restarted in Jan 18, after years of dodging the duff loans, and these new loans seem far worse performers than before. We also put £20k in a new IFISA in April/May (400 loans) and that claims to have earned a net £770, but if we tried to close it we could not take out what we put in. A lot of that £770 is in lates and will be lost. Risk has gone up, and rewards down, The old loans were better. If the machine is reluctant to lend your money, it is probably trying to help you.
I have had an absolutely awful year with my old FC account, where loans of 1-year-plus have defaulted in droves. I certainly hear stories about new loans going bad very quickly, but I'm not sure they could match the direness of my older ones!
So my present aim in the interests of comparative research is to construct, in a different FC account, as new a portfolio as possible.
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blender
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Post by blender on Dec 14, 2018 15:07:50 GMT
It is true that I had no experience of the new SME loans in 2017, just property. If your 2017 loans are worse that my 2018 loans, then I will have to send you a sympathy card.
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blender
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Post by blender on Dec 15, 2018 10:06:54 GMT
Strange, nothing has been sold yet.
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benaj
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Post by benaj on Dec 15, 2018 10:17:52 GMT
stuck loans not stuck anymore.
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blender
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Post by blender on Dec 15, 2018 13:28:52 GMT
I think the problem is a lack of cash. It has been 24 hours and they have not sold any of my loan parts. It all looks like they are having problems finding the cash for the PM.
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Stonk
Stonking
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Post by Stonk on Dec 15, 2018 15:25:13 GMT
They are having technical problems of some sort.
The stuck loans problem is definitely not because of a lack of lender cash. Those loans started off filling nice and quickly (tens of orders per minute) and then suddenly stopped filling. When FC noticed and restarted them manually (I assume), they instantly went back to filling at full speed. While they were stuck, other loans were being filled as normal.
I feel the selling issue is also because of a system-wide technical problem. I did a few test sales on Monday to Wednesday, and everything I tried sold in seconds. Since Thursday, however, nothing has sold even if left for hours or overnight. I thought this was maybe a side-effect of my stuck loans problem, but it seems I am not alone.
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Stonk
Stonking
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Post by Stonk on Dec 19, 2018 19:54:35 GMT
... and today's stuck loan is ... 69220 !
That's my account scuppered until FC restarts the stuck loan, probably sometime halfway through tomorrow. I bet my account will see no activity until they do so. I still have 50% cash to lend out, and this is the 3rd day out of the last 8 I have stopped dead by stuck loans.
Well, you know what FC? I don't like my cash sitting unnecessarily idle because of your technical problems that you don't notice for hours, and then deny happened. Tomorrow afternoon I will withdraw whatever is unlent, and you will never see it again.
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