Auto Lend 2 (PL)

Works for me in chrome on android. 

Just tried Chrome & Opera on another laptop & everything is fine.

So I need to find out why I have a problem with this one.

I will do the 'turn it off' & 'turn it on again' for starters.

Have you tried accessing via an incognito window? If that works, it's almost certainly a cookie issue.

Cached Images & Files needed clearing as well as cookies. All OK now.

I don't have much for you -- just an answer to your first question. I had AL2 switched on, and tried to set a Self-Select criterion. The system told me that would cancel AL2, and I couldn't re-enable it for 30 days. 

I said good-bye at that point.

Based on my understanding, tentative investigation of the new Auto-Lend settings and sight of a missive from Proplend, here's my response:

Can you set up both Auto for A & Self select for B & C at the same time?  No, as Warn as reported, selecting Self-Select disables Always-On.  It would appear to me that Auto-Lend has been designed by Proplend with a concept of dividing up their lender customers into two (or more) separate groups:

 - the Always-On lenders who have no control over what loans are invested in whether on the primary or secondary market, nor when the loans are made. It would appear that Proplend expect this group of lenders to deposit funds in their account and to take no further action other than topping-up their account (until presumably the lender wishes to withdraw funds).  Always-On clients will not receive notification of new loans - Proplend don't intend to reveal when the allocation to any new loan will take place, so the instruction for Self-Select lenders to have funds in their accounts by "close of business on the preceding day" does NOT apply to Always-On lenders - the allocation of funds may take place days earlier - we just don't know because Proplend assumes that Always On lenders want a "black-box" product and don't wish to know.  The only degree of control I can see Always-On lenders have is to keep their accounts topped-up to their desired level whenever the system invests in a lew loan and depletes the account.

- the Self-Select lenders who wish to choose which loans to invest in.  It would appear to me that Proplend will prioritize the Always-On lenders.  I don't believe that the idea of using the Always-On facility to invest in TrancheA and then use the Self-Select facility to invest in TrancheB or C is possible, because Auto-Lend 2.0 has been designed on the assumption that if you are a lender who wants any sort of control over which loans are selected, then you aren't an Always-On lender!

So how do Proplend propose to share out Tranches B & C in a fair way, with self select?  Don't know.

Is the minimum no longer £1000?  It's still £1,000 (unless the loan is not an exact multiple of £1k).  There are no plans to reduce the minimum that I'm aware of.

Is priority still based on the order in which you joined Proplend?  Not in practice.  The concept I use to envisage what happens is that there is a circular list of all lenders (with numbers based on when each joined).  The allocation process moves round the list until all the loan has been allocated; when the end of the list is reached before the loan is fully allocated, the process starts from the beginning again and goes round and round until either the loan is fully allocated or all lenders funds in Auto-Lend have been allocated.  The point at which the process stops is recorded and when the next loan is allocated, the next lender in the list from where the previous loan stopped is the first to be allocated.  The theory is that if you miss out on one loan, you'll have a better chance in the next loan.

Is the total you may end up with, determined by the amount of funds you place in the account (which determines how much you can request) 24 hours before each launch of each loan?  Probably, because you won't end up with more than you paid into your account or how much you requested as the maximum loan!  If you are a Self-Select client, then you'll have to have the necessary funds in your account by "close of business on the preceding business day" which Proplend defines as 17:30.  So a Monday loan needs your cash before 17:30 on Friday.  The Self-Select process may run overnight before the loan availability date.  Always-On clients have no cut-off point - they won't even get a notification email - the £1000 cash balance is already in their account or they're not really Always-On clients.  Of course, there's no guarantee that having funds in an account means that those funds will be allocated if the loan to smaller than the total funds in the Auto-Lend pool.

Is the more you request, the more you may likely get?  Yes, provided that the loan on offer is large enough that the allocation process can satisfy all lenders offering the minimum of £1000 in the first pass through the Auto-Lend list and can then allocate funds to lenders offering more than the minimum.  If the loan is large enough, then all lenders offering funds through Auto-Lend will get what they've requested.  I'm assuming that Always-On lenders will be satisfied before allocations start for Self-Select lenders.

If you miss out on one loan, are you prioritised for the next?  Yes, in theory, if you miss out on one loan, you'll be higher-up the queue for the next loan.  (But if you decline to offer funds for the next loan, the second loan, your position in the queue for the following, third loan is undefined.)  If you're a Self-Select lender, then you'll always be behind the Always-On lenders, as I understand it.

Personal view:  As a TrancheA-only lender using Auto-Lend 1.0, I think that Auto-Lend 2.0 is a retrograde step!  I gain nothing from Always-On and lose the ability to chose whether to invest or not in each loan as it appears.  With Auto-Lend 2.0 Always-On, I can't even restrict investments to the primary or secondary market - what if a loan is rumoured to be going bad and existing lenders unload their holdings on to the secondary market?  Always-On lenders will buy them automatically.

PS:  Maybe we should move this discussion of the pros & cons of Auto-Lend 2.0 to DD Central to avoid embarassing Proplend?

Please read this thread from the beginning.

I had the same problem.

'Cached Images & Files needed clearing as well as cookies'.