baldpate
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Post by baldpate on Jan 16, 2015 21:39:17 GMT
Hi, can anybody tell me a straightforward way to work out how much money is sitting in front of my bid in an auction? This is driving me nuts, and I feel I must be missing something! Let's say I login, click on "marketplace", select a loan application on which I am bidding, then click on the "Loan offers" tab. I see a list of all the current bids, but the order seems to have little logic. I would have expected the default order to be descending bid date/time within descending bid %rate - effectively the queuing order of the bids. And indeed, at the tail (low bid) end of the list, this seems to be the case. But at the head (high bid) end it isnt. For example, on one auction I'm looking at the the list starts like this (omitting unimportant columns, like usernames  ): ... Rate ... Date 19% 13 Jan / 17:20 18% 16 Jan / 11:08 18% 15 Jan / 16:18 18% 15 Jan / 16:06 ............................................. ............................................. <<--- a dozen or so in-sequence bids omitted here to save space ............................................. 17% 14 Jan / 11:43
19% 13 Jan / 22:11 19% 13 Jan / 22:06 It starts off fine with what appears to be the only remaining 19% bid at the head of the list, then there is a string of 18% bids in the expected date/time sequence, and below that a similar string of 17% bids, and ....... then it all goes wrong, where I have highlighted in red above, when 19% bids start re-appearing! I then try clicking on the headings of the Rate and Date columns, in various sequences, but none of them seem to end with the bids in the order I need. Obviously, I can cut and paste the whole bid list into an excel spreadsheet & sort it to the order I need, but it's not really a viable way of getting a quick estimate of the total value of bids higher than mine. What am I missing, please? Thanks for any help Chris |
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ianb
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Post by ianb on Jan 17, 2015 5:53:47 GMT
I think in general that it is the order you see the bids listed in when you go in to the Loan Offers tab, so where you are in the list - its the amount above which is before you. The exception to this, I think, are loans where people can transfer investments from an earlier loan - here (again, I think) the rate displayed is not the rate they have bid at for this one, but the rate they had on the earlier loan - and these auctions do look misleading. If I'm correct, this would be a bug on the display. This is just my best guess.
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Post by ladywhitenap on Jan 18, 2015 14:30:33 GMT
I don't understand how the sorting function is being implemented.
On some bid lists if you click on the interest rate column header, it all sorts properly with highest or lowest at the top, on other bid lists it starts off OK and then the list gets interspersed with some higher bids.
It seem the rebs site is riddled with these oddities which to me smacks of poor version control of the underlying website software. Makes it look like "hackware" to me
It is aggravated by the lack of "how to" guides so that users have to try to work out how to drive various functions and then the observed inconsistencies make even that difficult.
I feel that I keep sitting on the sidelines chucking rocks at REBS but to me it is so frustrating when the site could and should work so much better and consistently
LW
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Post by nickrebuildings on Jan 20, 2015 10:10:09 GMT
Hi All, The bids are listed chronologically, where the user has bid at the same percentage in the time before the loan is 100% offered. So, if I made 3 £10 bids at 15% they would all group together as 3 - £30 - 15%, but where I made 14%, 15% and 16% bids, they would all be listed separately. We had to do something to group them together because there were just thousands of £10 bids at the same rates before which crashed users' machines. Once the loan is 100% offered, the higher % loans will drop off, so in @baldbate 's example, the 19% bids would clear away, leaving the 17% bid where it is because that was when it was made and is still low enough to be in the auction. We decided to list bids chronologically because that takes preference when loans are outbid, as has already been pointed out. We've got a new 'lending guide' video in production ladywhitenap and we're constantly trying to include more 'tool tips' where you hover over something and a little explanation pops up. If you want to mail us your biggest gripes and where you think more info is required, we will get those implemented. |
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baldpate
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Post by baldpate on Jan 20, 2015 21:44:33 GMT
Hi Nick,
thank you for taking the time to respond, Nick. Unfortunately, unless I have misunderstood, your exposition of the bid presentation method on the Loan offers tab does not seem to accord with my experience in all cases. Specifically, it doesn't explain the the situation I described in my opening post.
As I write this post, I am looking at the Loan offers listing for a current auction (loan application 431, C****** K******* L** ) which shows the same characteristics as I described in my OP. This auction is 100% filled, but is not yet closed, so we are in the 'knock-out' phase.
The list of offers still 'live' in this auction contains 234 entries in total. This list apparently divides into two parts : the first part, at the head of the full list, comprises 22 entries which run from 15% to 12% in the expected order (i.e. with the 15% bids first, in chronological order with most recent on top, then the 14% ones similarly ordered, etc) ; the other part, at the tail end of full list, comprises the remaining 212 entries, starting again with 15% bids, followed by 14%, then 13%, 12%, 11%, 9% and 4%.
So, to be clear, scrolling down this Loan offers page, we see (in order, top, to bottom):
13 distinct offers at 15%
7 distinct offers at 14%
1 offer at 13%
1 offer at 12%
125 distinct offers at 15%
69 distinct offers at 14%
7 distinct offers at 13%
8 distinct offers at 12%
1 offer at 11%
1 offer at 9%
1 offer at 4%
I simply don't understand this behaviour, and I can't think of any good reason for it. It certainly makes it difficult to see, at a glance, where ones own bids sit in the ranking, and to estimate how much money sits above them. Why would you not simply present all the offers in one sequence, in 'knock-out' order (aside from needing to 'consolidate' bids from the same user at the same rate - the need for which I fully understand) ?
I have captured this Loan offers page as an Excel spreadsheet. If the 'feature' I am describing is still unclear, I can supply a copy of the spreadsheet.
Regards
Chris
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ianb
Posts: 161
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Post by ianb on Jan 21, 2015 8:03:45 GMT
Hi Nick, thank you for taking the time to respond, Nick. Unfortunately, unless I have misunderstood, your exposition of the bid presentation method on the Loan offers tab does not seem to accord with my experience in all cases. Specifically, it doesn't explain the the situation I described in my opening post. As I write this post, I am looking at the Loan offers listing for a current auction (loan application 431, C****** K******* L** ) which shows the same characteristics as I described in my OP. This auction is 100% filled, but is not yet closed, so we are in the 'knock-out' phase. The list of offers still 'live' in this auction contains 234 entries in total. This list apparently divides into two parts : the first part, at the head of the full list, comprises 22 entries which run from 15% to 12% in the expected order (i.e. with the 15% bids first, in chronological order with most recent on top, then the 14% ones similarly ordered, etc) ; the other part, at the tail end of full list, comprises the remaining 212 entries, starting again with 15% bids, followed by 14%, then 13%, 12%, 11%, 9% and 4%. So, to be clear, scrolling down this Loan offers page, we see (in order, top, to bottom): 13 distinct offers at 15%
7 distinct offers at 14%
1 offer at 13%
1 offer at 12%125 distinct offers at 15%
69 distinct offers at 14%
7 distinct offers at 13%
8 distinct offers at 12%
1 offer at 11%
1 offer at 9%
1 offer at 4%I simply don't understand this behaviour, and I can't think of any good reason for it. It certainly makes it difficult to see, at a glance, where ones own bids sit in the ranking, and to estimate how much money sits above them. Why would you not simply present all the offers in one sequence, in 'knock-out' order (aside from needing to 'consolidate' bids from the same user at the same rate - the need for which I fully understand) ? I have captured this Loan offers page as an Excel spreadsheet. If the 'feature' I am describing is still unclear, I can supply a copy of the spreadsheet. Regards Chris I agree with you baldpate, and emailed Rebs support on this yesterday (also that the For Sale tab on the dashboard hangs). To me it does seem linked to where the Transfer Bids option is available.
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Post by nickrebuildings on Jan 21, 2015 9:23:25 GMT
Noted guys, this loan is a refinance and ianb is correct, that does seem to have played about with the display. If you look at H******** H**** Ltd, which is 100% full and a first time loan, you'll see that what I said above holds true. We've created it as a task for our developers to straighten out. |
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baldpate
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Posts: 548
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Post by baldpate on Jan 21, 2015 14:44:28 GMT
Thanks ianb and Nick - glad to learn I'm not imagining things!
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