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Post by overthehill on Jun 30, 2022 18:49:10 GMT
Bit of concern re lack of liquidity re disposals on the secondary market, given the amount available… the platform needs a couple or 3 big redemptions
Not surprised at the lack of liquidity as transactions are asynchronous. Purchase, then wait up to 24 hours, failed, repeat with next property. 3 times I've tried and failed to purchase on the SM. Given up, will wait for rates to increase on new loans.
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Post by davefoz on Jul 8, 2022 17:03:58 GMT
I can’t place loans on the secondary market there’s nobody available to contact at Somo … bit of a shambles really.
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jul 8, 2022 17:44:14 GMT
I can’t place loans on the secondary market there’s nobody available to contact at Somo … bit of a shambles really. It was OK on the 6th when I sold something. Edit: I guess they may have gone home...
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Post by davefoz on Jul 9, 2022 11:30:48 GMT
I can’t place loans on the secondary market there’s nobody available to contact at Somo … bit of a shambles really. It was OK on the 6th when I sold something. Edit: I guess they may have gone home... They do seem to be a one man band … guy called Simon who’s excellent but the infrastructure is sh…! As regards the secondary market … I think they can only handle half a dozen Sales … that said if sakes aren’t being processed it will be fall over. The playroom needs a clear up … a few big redemptions
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Greenwood2
Member of DD Central
Posts: 4,243
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Post by Greenwood2 on Jul 9, 2022 12:03:15 GMT
It was OK on the 6th when I sold something. Edit: I guess they may have gone home... They do seem to be a one man band … guy called Simon who’s excellent but the infrastructure is sh…! As regards the secondary market … I think they can only handle half a dozen Sales … that said if sakes aren’t being processed it will be fall over. The playroom needs a clear up … a few big redemptions There were a dozen or so loans on the SM when I put mine up, and it still sold within the day. I've not had any problems with the SM, but I don't use it very often. Some processes are not automated so sales over the weekend may not show until Monday?
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rookey123
Member of DD Central
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Post by rookey123 on Jul 11, 2022 9:48:46 GMT
Just noticed some loans at a discount in the secondary market.
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billt
Posts: 89
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Post by billt on Jul 11, 2022 11:57:55 GMT
Getting quite concerned, five defaulted loans.. (10k outstanding interest) all well over due.
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Post by davefoz on Jul 11, 2022 15:43:24 GMT
Just noticed some loans at a discount in the secondary market. Cheers just got in on them @ 53% LTV little risk particularly given the Lendy decision. 1% gives an immediate 2% lift on a 6 month loan.
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Post by davefoz on Jul 11, 2022 15:44:31 GMT
Getting quite concerned, five defaulted loans.. (10k outstanding interest) all well over due. Wouldn’t be overly concerned although the system developer at SOMO needs a boot up the backside
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Greenwood2
Member of DD Central
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Post by Greenwood2 on Jul 11, 2022 17:15:01 GMT
Just noticed some loans at a discount in the secondary market. No funds
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michaelc
Member of DD Central
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Post by michaelc on Jul 12, 2022 19:57:18 GMT
Just noticed some loans at a discount in the secondary market. No funds No desire
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