wysiati
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Post by wysiati on Feb 19, 2015 22:31:46 GMT
I think there might have been a flipper war going on - because I cannot see where the cash would be better placed at present, to the extent that one would sell stock at cost. They call him Flipper, Flipper, bids faster than lightning, No-one you see, shunts loan parts like he, And we know Flipper, makes the occasional blunder, Too much bidding under, on platform FC! (With apologies to Vars and Dunham)
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blender
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Post by blender on Feb 19, 2015 22:56:29 GMT
![]()  I'm Flipper ... I'm Flipper ...I'm the real Flipper ...I'm the alpha Flipper! (Frying tonight.)
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Post by GSV3MIaC on Feb 20, 2015 11:19:03 GMT
All loan applications have passed FC's rigorous assessment process, have been banded for risk and given a minimum bid, below which Autobidders cannot go (on auctions). Does that not make them all equally eligible for FC's creature, Autobid? Autobid works for borrowers and lenders on new auctions - it's not really there to be optimised just for the lenders. I cannot see FC having a further grading within each band with little symbols ranging from a star to a bargepole. I think your case is much stronger on the SM, where the purpose of Autobid is to sell unwanted loan parts. Not giving Autobidders the choice to switch off the SM purchasing is hard to justify (except that personally I rely on it to sell property). Exactly .. they are all equally eligible (I could, but won't argue that rejected whole loans might rate a minor downgrade?), but the current autobid system preferentially puts money into the ones which are not funded, instead of injecting autobid money equally (by %age of loan value) into all the eligible loans. If it did the latter the tall one's strategy would not work.
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blender
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Post by blender on Feb 20, 2015 12:34:15 GMT
But one of the tasks of Autobid is to fill the loans which need blind cash to fill - and there is a particular need to do that with the larger ones. Autobid is, imo, designed to be just good enough and as simple as possible for lenders who do not wish to do much more than feed it. Whatever behaviour they choose for it, someone will find a way of taking advantage. And so they might just as well choose the behaviour which is most effective in filling the loans they need to fill. I have no problem with the tall one, or anyone who uses the platform within the rules. (Agree about the whole loan rejects, or sl*ppy s*c*nds as described by another.)
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