Is that 30-day penalty for those who have autolend on permanently only ?
I got a slice of B in the last loan so not too disappointed really.
Yes, the email in January which outlined Proplend's proposed Auto-Lend 2.0 said this about the "Always On" option: "If a Lender does decide to turn it off, then it cannot be reactivated for a period of 30 days."
We have to wait for a better description of how the "Always On" and "Self-Select" options will work, in particular how Auto-Lend 2.0 will prioritize the allocation of individual lenders' funds for each loan, something which has become critical with the demand out-stripping supply for almost every loan.
Auto 2.0 will prioritize Always on' tranche A over self-select tranche A as detailed on the dedicated website set up today. Self Select will allow bids in all 3 tranches.