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Post by longjohn on Dec 19, 2014 19:59:10 GMT
We're all familiar with the great tradition of 'oh, yes he is, oh, no he isn't.' in all the best panto's. Well it's good to see Frequently Clumsy joining in. Company names removed to protect the innocent... I'm betting 9591 will be pulled.  John |
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chrisf
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Post by chrisf on Dec 19, 2014 20:12:10 GMT
*He's behind you*
*Oh no he isn't*
*Oh yes he is*
Watch out, it's Tallsi, he's back. 50K front-load on 9708 today
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Post by longjohn on Dec 19, 2014 20:22:50 GMT
Can't see Tallsi in there. 'Baz***a' and 'j c b*****' have done their usual starter though.
Some of the big boys are throwing a lot of money at auctions that end on the 25th and 26th.
John
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chrisf
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Post by chrisf on Dec 19, 2014 20:33:15 GMT
The tall money was all at 15 and unusually didn't come back in at 14.8.
On this particular auction the effect of front-loading has been that the auction has filled with less than 1% being at MBR. So maybe the tall money did the intended job and he'll be back in on boxing day.
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Post by GSV3MIaC on Dec 19, 2014 22:04:27 GMT
The autobuy algorithm may be struggling with repaid funds in the next week or so though (assuming some get processed) since the 'fill all auctions up evenly' collapses somewhat when they are all at 100%, and no new ones are appearing. May be more-than-usual SM shopping going on, or maybe there is a fallback that lets autobid actually underbid existing bidders at auction if there is no place else to put it. We shall have to see, Autobid/buy being an ill-described black box, liable to change its behaviour at any time (like when it was adjusted to try to fill all auctions).
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blender
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Post by blender on Dec 19, 2014 22:21:03 GMT
The autobuy algorithm may be struggling with repaid funds in the next week or so though (assuming some get processed) since the 'fill all auctions up evenly' collapses somewhat when they are all at 100%, and no new ones are appearing. May be more-than-usual SM shopping going on, or maybe there is a fallback that lets autobid actually underbid existing bidders at auction if there is no place else to put it. We shall have to see, Autobid/buy being an ill-described black box, liable to change its behaviour at any time (like when it was adjusted to try to fill all auctions). I'm quite happy about that because, with the need to keep the £1m property loan underwriting fund free, if Autobid now helps FCSL dispose of its parts on the SM then it also helps me. Am now buying more A+ and A business loans, or trying to because it seems the high rates on the big ones are not finding favour with borrowers.
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fasty
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Post by fasty on Dec 19, 2014 22:41:17 GMT
The autobuy algorithm may be struggling with repaid funds in the next week or so though (assuming some get processed) since the 'fill all auctions up evenly' collapses somewhat when they are all at 100%, and no new ones are appearing. May be more-than-usual SM shopping going on, or maybe there is a fallback that lets autobid actually underbid existing bidders at auction if there is no place else to put it. We shall have to see, Autobid/buy being an ill-described black box, liable to change its behaviour at any time (like when it was adjusted to try to fill all auctions). I'm quite happy about that because, with the need to keep the £1m property loan underwriting fund free, if Autobid now helps FCSL dispose of its parts on the SM then it also helps me. Am now buying more A+ and A business loans, or trying to because it seems the high rates on the big ones are not finding favour with borrowers. I tend to share the same philosophy - although should we now be considering bidding on more potentially risky loans, bearing in mind that we can soon expect to be able to offset losses against tax? Or am I being rather premature? I have a spreadsheet which estimates (for various gross rates and risk bands) the expected % net return after fully considering fees, losses and TAX. Adjusting to allow offset of losses against tax would seem to make riskier loans more appealing.
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blender
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Post by blender on Dec 19, 2014 23:37:55 GMT
What you say is correct Fasty and we look forward to it. But if you shift all or part of your portfolio into an ISA then income tax relief on losses is irrelevant and losses become full losses again. We all have different account make-ups and different tax positions. The A+ and A opportunities suit my case now, since the rates are pretty good at present on the large loans (when taken up). Others will optimise their accounts differently, though I would want more than 15% on a C- (being a greedy porcine.)
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Post by longjohn on Dec 20, 2014 10:24:18 GMT
The tall money was all at 15 and unusually didn't come back in at 14.8. On this particular auction the effect of front-loading has been that the auction has filled with less than 1% being at MBR. So maybe the tall money did the intended job and he'll be back in on boxing day. Ah! I see. Blink and you miss it. Looks like front loading is the new place to frenzy. I rarely look at that end of the loan list. I'll start paying more attention in future. John
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oldgrumpy
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Post by oldgrumpy on Dec 20, 2014 11:05:28 GMT
Is tallshanks the cause of so many large A+ and A loans ending up at higher than necessary final rates, which lead to rejection? If so I am amazed that Facile Cretins actually allow it to happen despite knowing this manipulation is active.
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blender
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Post by blender on Dec 20, 2014 11:36:58 GMT
That could well be, Grumps. The cash is presumably released fairly quickly to do the same on the next target. Better than being a whole loan lender and taking the average rate.
9591 has to be pulled with those questions reported. As well as the lack of the promised guarantee, the filed accounts do not represent the current de-merged company. I cannot see this borrower reaching agreement on a re-listing that will suit FC and provide £250k unsecured.
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oldgrumpy
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Post by oldgrumpy on Dec 20, 2014 12:00:18 GMT
Amazing how quickly the Q and A is moderated by FC for anything which might offend the borrowers (when it is "...not actively monitored and Funding Circle does not control the content...") but do nothing for days when their own inadequate loan details are flagged up, and confirmed as rubbish by the borrower.
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Post by GSV3MIaC on Dec 22, 2014 12:45:28 GMT
We're all familiar with the great tradition of 'oh, yes he is, oh, no he isn't.' in all the best panto's. Well it's good to see Frequently Clumsy joining in. Company names removed to protect the innocent... I'm betting 9591 will be pulled. John So far you are losing your bet, but maybe you'll win on the side bet that the company will decline to sign the guarantee, and thus the loan will never be made (while everyone's funds sits in limbo for a couple of weeks). One hopes that Festive Cheers did a better job of organising their Xmas p1$$up in a pub. 8>.
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Post by GSV3MIaC on Dec 22, 2014 12:50:37 GMT
Amazing how quickly the Q and A is moderated by FC for anything which might offend the borrowers (when it is "...not actively monitored and Funding Circle does not control the content...") but do nothing for days when their own inadequate loan details are flagged up, and confirmed as rubbish by the borrower. Yep, at least 6 of the questions had had the 'report this Q to FC' button pushed. Mind you I am still waiting for a reply on 9684 where the loan amount differs from the auction listing - also reported to FC. Rather than 'report this Q', you can use the 'contact FC' button,. but that just gets you an email saying they'll respond within 2 days, and another one two days later telling you how unexpectedly busy they are, and they'll get back to you ASAP.
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Post by longjohn on Dec 22, 2014 13:39:13 GMT
It's a bet I'm happy to lose since I didn't put any money on it.  However, I am surprised FC hasn't pulled the loan and is instead trying to call their bluff. This is not the attitude I expect and it's disappointing to see FC playing this game. John |
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