maxmarengo
Member of DD Central
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Post by maxmarengo on Mar 3, 2015 12:17:17 GMT
To end the speculation, I will be offering the parts at 0 premium as I do not see loads of opportunities I need the cash back quickly for.
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coop
Member of DD Central
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Post by coop on Mar 3, 2015 13:19:22 GMT
Yup leave em at 0% you'll lose them eventually!
11111 richmond has 3 hours left and £44k to fill - the next candidate for 1 or 2 % cashback or will FC top it up??
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Post by GSV3MIaC on Mar 3, 2015 13:24:31 GMT
They are obviously not too fussed yet - see 11267, 8% NO cashback at all, and over £400k to find. Or maybe it is an error?
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blender
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Post by blender on Mar 3, 2015 14:27:38 GMT
Let's assume it's not an error and FC are trying to fund all future property loans with no cashback - in the context of this shift to the new class of loans (because they are in real trouble making anything from the multi-tranche offerings. And that the cash back is to be retained for the later tranches of loans that they have agreed to underwrite and where Autobid is already satiated.
The new offering seems to be 8% for A+, 10% for A and presumably 12% for B, all without cash back. (No C obviously).
So 11111 - which is not even the last tranche - may well be a cash back candidate - or FCSL.
But 11267 (no cash back) is presumably put out over two weeks to see if it will fill. If it does fill then the much smaller second tranche (underwritten) should be easier. If it does not fill then it either gets forgotten or the Borrower agrees a higher rate.
I think we may have seen the end of the new £2M+ multi tranche loans until such time as FC has the lenders to fund them to term. (See interesting debate on another forum).
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baldpate
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Post by baldpate on Mar 3, 2015 15:58:07 GMT
"FC Solutions" seems to have been transmogrified into "FC Property Finance", and is even now busy pumping money into the ailing 11111.
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Post by longjohn on Mar 3, 2015 16:10:28 GMT
"FC Solutions" seems to have been transmogrified into "FC Property Finance", and is even now busy pumping money into the ailing 11111. At 90 £20 bids a minute I assume they're button pressing manually. Nowhere nearly as fast as the flippers. John They've now got 13 minutes to fill £13,440 at £20 = 672 bids. Just about one bid a second. Go, go, go .... Closed 5 minutes early thanks to filling the last £10,000 with £100 bids.
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coop
Member of DD Central
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Post by coop on Mar 3, 2015 16:38:59 GMT
Is it just me or is that pretty hilarious
Presumably they will go on the SM filibustering up other peoples chances of sales
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adrianc
Member of DD Central
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Post by adrianc on Mar 3, 2015 16:49:22 GMT
Is it just me or is that pretty hilarious The thought that somebody's in the office, Frantically Chomping away at the mouse to bid as time runs out? "Oh, bugger! I'm going to have to up the part size to get them all in!" Yep, I had a chuckle at that, too. That was all muttered about to death back when they first rescued a dying offer.
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Post by GSV3MIaC on Mar 3, 2015 17:04:38 GMT
Do you suppose that JCB****** or Baz***** could sell them a bid-bot? Or maybe they are already using one, since I can't get past 3-4 seconds a bid if I actually wait for the site to send me back an ack for each bid.
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