ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168 
Likes: 4,859
|
Post by ozboy on Jan 7, 2019 14:31:18 GMT
Ha Ha, just read the latest newsletter from FS HQ and note immediately the Secondary Market Monthly Sales - no wonder some on here are consistently denying problems with Valuations and bigging up FS, especially the Secondary Market! Now why could that be?  "January heralds the start of a New Year but also a new approach to lending and investment within FundingSecure" Another massive Ha Ha, I think most on here will believe it if/when it happens. |
|
arby
Member of DD Central
Posts: 910
Likes: 959
|
Post by arby on Jan 7, 2019 14:58:18 GMT
Ha Ha, just read the latest newsletter from FS HQ and note immediately the Secondary Market Monthly Sales - no wonder some on here are consistently denying problems with Valuations and bigging up FS, especially the Secondary Market! Now why could that be? "January heralds the start of a New Year but also a new approach to lending and investment within FundingSecure" Another massive Ha Ha, I think most on here will believe it if/when it happens. Another simple explanation is that the reduced loans being written in the last 4 months has had a direct impact on the size of the SM and the number of loans being offered for sale. Broadly speaking, only loans written in the last 5 months are eligible for the SM. I wouldn't be surprised if there has been an overall decrease in confidence towards FS, I'm not debating that, but the constant searching for signs to back up an existing view and then posting gleeful threads about it is getting old.
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Jan 7, 2019 14:59:44 GMT
Right on cue arby! Waiting for godanubis now. You're as reliable as moi. |
|
|
|
Post by Badly Drawn Stickman on Jan 7, 2019 15:24:27 GMT
Right on cue arby! Waiting for godanubis now. You're as reliable as moi. Is 'waiting for godanubis now' the long awaited sequel to waiting for Godot? Always wondered what happened to Vladimir and Estragon.
|
|
arby
Member of DD Central
Posts: 910
Likes: 959
|
Post by arby on Jan 7, 2019 16:01:02 GMT
Right on cue arby! Waiting for godanubis now. You're as reliable as moi. But you're not disputing that a decrease in new loans has an unavoidable impact on decreasing the available loans on the SM. So this thread is largely irrelevant.
|
|
aj
Member of DD Central
Posts: 348
Likes: 465
|
Post by aj on Jan 7, 2019 16:03:37 GMT
The lack of new loans being offered has meant secondary market prices are going up. Stuff available last month at -0.7% is now at 0%.
FS are making all the right noises at the moment, but I think I'll keep my position steady until I see some progress on my overdue loans. (Particularly The D*** and Lytham St Annes).
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 7, 2019 16:36:06 GMT
The lack of new loans being offered has meant secondary market prices are going up. Stuff available last month at -0.7% is now at 0%. FS are making all the right noises at the moment, but I think I'll keep my position steady until I see some progress on my overdue loans. (Particularly The D*** and Lytham St Annes). My point exactly the fewer PM loans mean anyone wanting to invest and diversify must buy on SM my strategy is to be the person they buy from. With only a few repayments people who require capital must sell and providing they meet my requirements I’m happy to accommodate them. The stuff you say was available at -0.7 I would buy and sell till it gets to the point there is little left to make a modest profit. Lots of modest profits make 1 reasonable profit there is room all the way for folk to sell without great loss or buy with modest discount. Everyone is happy 😃 If Lytham or Gainsborough pays back soon the SM will be eaten up quickly and we will get back to the normal few offered at -1%
|
|
ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
|
Post by ozboy on Jan 7, 2019 16:40:18 GMT
Right on cue arby! Waiting for godanubis now. You're as reliable as moi. But you're not disputing that a decrease in new loans has an unavoidable impact on decreasing the available loans on the SM. So this thread is largely irrelevant. You have put forward one reason for a more than half reduction in volume, I alluded to another, and there's probably a further third, fourth and more viable reasons - who is to say who is correct? It is all conjecture. Which is what this Forum is for.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 7, 2019 16:54:35 GMT
The SM relies on relatively liquid funds within the platform or high new investments. With few loans currently being resolved the liquidity is reduced. On a good day mid last year I would buy and sell tens of thousands £ worth of loan parts. With current stalled repayments that is down to £10000 ish a day.. So come on folks sell your loans and pay the Xmas CC bill  Or FS increase discount allowed to -1.5-2% |
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jan 7, 2019 17:14:21 GMT
The SM relies on relatively liquid funds within the platform or high new investments. With few loans currently being resolved the liquidity is reduced. On a good day mid last year I would buy and sell tens of thousands £ worth of loan parts. With current stalled repayments that is down to £10000 ish a day.. So come on folks sell your loans and pay the Xmas CC bill
Or FS increase discount allowed to -1.5-2%You can apply what %age you like..5%..10% even..but from my perspective that's worth diddlysquat as over 95% of my LB is either late, ridiculously late or unredeemed..thats where the missing platform liquidity is..and id wager im not alone with that predicament..until such time as FS resolve several of the "we all know what loans" the SM and by default the PM will continue to stagnate.
|
|
arby
Member of DD Central
Posts: 910
Likes: 959
|
Post by arby on Jan 7, 2019 18:00:03 GMT
But you're not disputing that a decrease in new loans has an unavoidable impact on decreasing the available loans on the SM. So this thread is largely irrelevant. You have put forward one reason for a more than half reduction in volume, I alluded to another, and there's probably a further third, fourth and more viable reasons - who is to say who is correct? It is all conjecture. Which is what this Forum is for. My reason isn't conjecture though. If all loans stop being written then in 5 months time the SM will have zero volume. As it is, the primary market has written less than half its usual amount for quite a while, so to say it's just conjecture that this may have an impact on the SM is pushing the bounds of reasonableness. You are right that there could be many secondary reasons for a drop in the SM, of which you have suggested one.
|
|
bg
Member of DD Central
Posts: 1,368
Likes: 1,929
|
Post by bg on Jan 7, 2019 18:25:33 GMT
"January heralds the start of a New Year but also a new approach to lending and investment within FundingSecure" Another massive Ha Ha, I think most on here will believe it if/when it happens. The new owner only took over less than 3 months ago. He has stated he wants to take things in a new direction and I think there is clear evidence of that with the changes that have been made so far. There has been a big increase in loan updates, a vast reduction in origination of the old style high risk loans, a step up in the speed of defaults, improvements made to loan details. He has also stated that more staff are being hired. You have the right to be skeptical but I think it's only fair to give the guy the benefit of the doubt until you have see the outcome of the actions he has taken.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 7, 2019 20:42:35 GMT
The SM relies on relatively liquid funds within the platform or high new investments. With few loans currently being resolved the liquidity is reduced. On a good day mid last year I would buy and sell tens of thousands £ worth of loan parts. With current stalled repayments that is down to £10000 ish a day.. So come on folks sell your loans and pay the Xmas CC bill
Or FS increase discount allowed to -1.5-2%You can apply what %age you like..5%..10% even..but from my perspective that's worth diddlysquat as over 95% of my LB is either late, ridiculously late or unredeemed..thats where the missing platform liquidity is..and id wager im not alone with that predicament..until such time as FS resolve several of the "we all know what loans" the SM and by default the PM will continue to stagnate. As I said currently SM requires either new loans or payback. Since you should only have max 0.1 % to 1% in any loan you must have been very unlucky or under diversified within the over 500 current loans. Lateness is nature of the beast. Offer the SM loans at 10% discount and I’ll take a couple of hundred £K. Fully diversified of course. I’ve very few loans anywhere near my nominal 2 year late deadline before counting as a loss (reduction in return) . Other platforms have minimal times for investment 3-5 years I still manage to buy/sell several thousand on SM. The last few paybacks caused a spike in Sales others are due soon from non problematic loans. Like negative equity unless you need the money it is just statistics. S&S still down massively more than same amount would be in P2P with current actual loss of capital counted. Let the new guy work his magic. All the problems of liquidity,lateness,defaults etc can be avoided by selling and as SM reduces it makes selling easier. So take reasonable tax/risk free return or Take the well publicised risks and hold till paid back for the biggest payback less Tax unless you use your money and time to bump up your FISA
|
|
rogerthat
Member of DD Central
Posts: 2,048
Likes: 1,994
|
Post by rogerthat on Jan 7, 2019 21:38:08 GMT
You can apply what %age you like..5%..10% even..but from my perspective that's worth diddlysquat as over 95% of my LB is either late, ridiculously late or unredeemed..thats where the missing platform liquidity is..and id wager im not alone with that predicament..until such time as FS resolve several of the "we all know what loans" the SM and by default the PM will continue to stagnate. As I said currently SM requires either new loans or payback. Since you should only have max 0.1 % to 1% in any loan you must have been very unlucky or under diversified within the over 500 current loans. Lateness is nature of the beast. Offer the SM loans at 10% discount and I’ll take a couple of hundred £K. Fully diversified of course.I’ve very few loans anywhere near my nominal 2 year late deadline before counting as a loss (reduction in return) . Other platforms have minimal times for investment 3-5 years I still manage to buy/sell several thousand on SM. The last few paybacks caused a spike in Sales others are due soon from non problematic loans. Like negative equity unless you need the money it is just statistics. S&S still down massively more than same amount would be in P2P with current actual loss of capital counted. Let the new guy work his magic. All the problems of liquidity,lateness,defaults etc can be avoided by selling and as SM reduces it makes selling easier. So take reasonable tax/risk free return or Take the well publicised risks and hold till paid back for the biggest payback less Tax unless you use your money and time to bump up your FISA Yes..the timespan of the beast is already understood as I've never been under the misconception that the "6 month loan" does what it says on the tin. But add fraud, valuations laughably overstated, lackadaisical oversight or in some cases as it now appears, none whatsoever and you have risk way beyond the initial offering. I have no choice but to let the 'new guy' work his magic as I've already sold everything that I can. But I think there comes a time when actions speak louder than words and I've read enough about new systems, staff and procedural changes. With many of my loans approaching their 2nd year, I'd like some returns.
|
|
Godanubis
Member of DD Central
Anubis is known as the god of death and is the oldest and most popular of ancient Egyptian deities.
Posts: 2,011
Likes: 1,013
|
Post by Godanubis on Jan 7, 2019 21:56:29 GMT
As I said currently SM requires either new loans or payback. Since you should only have max 0.1 % to 1% in any loan you must have been very unlucky or under diversified within the over 500 current loans. Lateness is nature of the beast. Offer the SM loans at 10% discount and I’ll take a couple of hundred £K. Fully diversified of course.I’ve very few loans anywhere near my nominal 2 year late deadline before counting as a loss (reduction in return) . Other platforms have minimal times for investment 3-5 years I still manage to buy/sell several thousand on SM. The last few paybacks caused a spike in Sales others are due soon from non problematic loans. Like negative equity unless you need the money it is just statistics. S&S still down massively more than same amount would be in P2P with current actual loss of capital counted. Let the new guy work his magic. All the problems of liquidity,lateness,defaults etc can be avoided by selling and as SM reduces it makes selling easier. So take reasonable tax/risk free return or Take the well publicised risks and hold till paid back for the biggest payback less Tax unless you use your money and time to bump up your FISA Yes..the timespan of the beast is already understood and I've never been under the misconception that the "6 month loan" does what it says on the tin. But add fraud, valuations laughably overstated, lackadaisical oversight or in some cases as it now appears, none whatsoever and you have risk way beyond the initial offering. I have no choice but to let the 'new guy' work his magic as I've already sold everything that I can. But I think there comes a time when actions speak louder than words and I've read enough about new systems, staff and procedural changes. With many of my loans approaching their 2nd year, I'd like some returns. You are right borrowers should meet their contractual obligations in the timeframe agreed. This is not always the case due to over optimistic expectations and occasional fraud. The role of the platform is to act professionally and safeguard investor’s funds by not allowing borrowers optimism to taint the strict criteria they should apply to borrowers. I do hold them responsible for the majority of delinquent loans and their tardiness in quickly intervening when borrowers stray. Also updates should be monthly after the 2nd month and info from borrowers independently verified. Although. More difficult all physical materials should be purchased in FS name and title transferred when loan compleats. That would make borrowers a bit more aware of their responsibilities. If a number of hoops are required to get a loan as long as they are reasonable and within operational expectations a prudent borrower will assess these and accept them and if fulfilled everybody is happy. If not action should be immediate. Things appear to be improving as best that they can with current loans and should be exemplary for new loans. It is everyone’s best interest to resolve current issues ASAP
|
|
