number5
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Post by number5 on Jun 21, 2019 10:20:25 GMT
Would you mind please elaborating on "I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount." I have seen the terms bids and offers on the site... Also is the portfolio loan like a AC quick access account?
no. if you want access you go into a queue where you have no idea where you are in the queue. That's a big downside of the portfolio loans in my view. I read on the information it usually takes 5 days or it could be instant...what are peoples experiences ?
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IFISAcava
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Post by IFISAcava on Jun 21, 2019 10:30:02 GMT
no. if you want access you go into a queue where you have no idea where you are in the queue. That's a big downside of the portfolio loans in my view. I read on the information it usually takes 5 days or it could be instant...what are peoples experiences ? I have a withdrawal that has been queued for around 3 weeks. My previous withdrawal (before the recent flight of capital from P2P) took 1 day.
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hazellend
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Post by hazellend on Jun 21, 2019 10:36:12 GMT
Although I like a liquid secondary market, investors obsessions with getting a discount or premium amuse me. It’s really picking up pennies in front of a steamroller. Recently I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount. Would you mind please elaborating on "I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount." I have seen the terms bids and offers on the site... Also is the portfolio loan like a AC quick access account? Sorry , too lazy to explain bids and offers
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hazellend
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Post by hazellend on Jun 21, 2019 11:15:18 GMT
I read on the information it usually takes 5 days or it could be instant...what are peoples experiences ? I have a withdrawal that has been queued for around 3 weeks. My previous withdrawal (before the recent flight of capital from P2P) took 1 day. You should contact them if it’s been 3 weeks
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SteveT
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Post by SteveT on Jun 21, 2019 11:27:28 GMT
Although I like a liquid secondary market, investors obsessions with getting a discount or premium amuse me. It’s really picking up pennies in front of a steamroller. Recently I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount. Would you mind please elaborating on "I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount." Rather than buying immediately at Par (and so starting to earn interest), someone preferred to tie their cash up in the hope someone would take up their Bid to buy at 0.1% discount (roughly 3 days’ interest at 12/13%)
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IFISAcava
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Post by IFISAcava on Jun 21, 2019 11:54:55 GMT
I have a withdrawal that has been queued for around 3 weeks. My previous withdrawal (before the recent flight of capital from P2P) took 1 day. You should contact them if it’s been 3 weeks Sorry, withdrawal may be the wrong word out of context - portfolio loan sale more accurate.
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number5
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Post by number5 on Jun 22, 2019 9:10:36 GMT
Would you mind please elaborating on "I bought 15k of a loan on SM at 100% but there were bids around 2k between 0.1- 0.5% discount." Rather than buying immediately at Par (and so starting to earn interest), someone preferred to tie their cash up in the hope someone would take up their Bid to buy at 0.1% discount (roughly 3 days’ interest at 12/13%) So when you make a bid to buy a loan at a certain discount, those funds are tied up earning 0% interest until someone takes up their bid or the lender withdrawas their bid and invest those funds elsewhere? What if two people are offering the same discount, does the ageing of the loan holding make a difference in the que to sell? E.g. FS if I invest on the PM at 0 days but someone else invests on PM at 10 days, at same discount 10 day will always be above my 0 on the SM Hope that makes sense..
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blender
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Post by blender on Jun 22, 2019 9:15:41 GMT
Yes, bids are queued. It used to be that you could alter a bid, but no longer - which I think is an improvement. Every bid has to be fully funded, which tends to depress the rates bid.
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number5
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Post by number5 on Jun 22, 2019 9:24:05 GMT
Yes, bids are queued. It used to be that you could alter a bid, but no longer - which I think is an improvement. Every bid has to be fully funded, which tends to depress the rates bid. I am struggling to see the advantage of tying funds up in bids in the hope there is a lender willing to sell at (assuming) such a low rate...unless people generally set them reasonably surely better off looking at SM for available parts at your rate
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Post by flobberchops on Jun 23, 2019 14:26:47 GMT
I have never been on MT, however I was previously on FC and currently phasing away from FS. I was one of those 'flippers', so those fastest finger first loans were my best! So I take it it is not really an option here? How is it possible to sell on MT the FFF loans if there are no premiums on the SM? I am also not very keen to hold loans to term, so is it fairly confident if ABL do not freeze a loan, that you can get out before term by selling at a discount? What is a protofolio loan? Hi, sorry for the delay, I only check this forum weekly or thereabouts.
No FFF - but aside from getting a slice of pie first (which you could then hold, or sell for par at the time) I don't get the point? MT used to have long droughts where there was literally nothing on the PM or SM (those were the days - now everybody is trying to sell up) and those FFF fights were the only action going. But what is the benefit? No, Abl loans rarely follow that pattern.
Yes, you should have no problem selling a loan before term unless it's a real stinker or has been frozen. You may have to offer a small discount but many would argue losing 1-2 months interest to get your full principle back is worth it. I'm a "buy and hold" kind of investor so I can't speak from experience here.
The portfolio loan - you know what, this highlights the fact I should really learn to understand what I'm investing in before I throw money at it. If you want a definitive answer I believe this is covered in Ablrate's FAQs.
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victors
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Post by victors on Jun 23, 2019 14:36:20 GMT
I've made a few withdrawals from the portfolio loan and they have all been processed within three weeks.
This is despite the 'amount of loan available now' figure increasing during that time.
As I understand it, withdrawals always have prioroty ahead of any tranche still to fill.
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number5
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Post by number5 on Jun 24, 2019 16:43:18 GMT
Can you withdraw or change your offer after you have created it..? Or do you have to wait until it expires
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iRobot
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Post by iRobot on Jun 24, 2019 16:48:50 GMT
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number5
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Post by number5 on Jun 24, 2019 17:09:49 GMT
I can't seem to find a way of amending my offer via the Current Investments tab...?
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marka
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Post by marka on Jun 24, 2019 18:05:17 GMT
That FAQ is out of date. You can no longer amend offers - only cancel and make a new one.
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