I don't like Thurdays

I think that it will always be a good idea to look at Loan Comments daily. This is not because that is where loan defaults might be seen earliest. It is because there is another sort of comment that I don't think has ever given rise to an email warning but which does indicate an early sell: the 'lender has said that they are planning to pay back early' sort of comment.

If you are looking at loan comments daily for this reason, then I think that the new 'notify defaults only on Thursday' practice doesn't change anything.

The immediate question this raises is: what will you do with the information?  You can't sell your loan parts, and you can't influence the default-handling process.  Almost the only time it actually matters is when you're filling in your tax return, so you know what bad debt you can offset against gains.  

Of course, if getting an email is the only thing that stops you constantly wondering if there's a default on one of your many loan parts, and probably checking the Loan Comments multiple times per day, then it's in both yours and FC's interests to send you an email, so you can rest easy and leave their poor servers alone 

I stopped being very active with FC back in Feb and have merely monitored data to get a view if the days of early finishing was gone.  I'm now in the process of trying to sell out my poorer deals on FC and have noticed a few things

1) Where has all the FC business gone, they used to hit 3 pages of loans all the time, if not 3 then 70 plus loans were always live?  Today's 32 are not even all live.  Have FC set up another business somewhere else and excluded us (I guess I know, but it is very obvious)?
2) "A" still gets early stops above 13.4% on a regular if infrequent basis.  There is no similar figure for A+ at say 12.4%, not interested in the lower bands so sorry no information

Today (Thursday) I have no bids (except for one property at the 12% level), all looks a bit dull and i can see a slow movement towards more interesting (getit) portals.

Hugs

Look at last week's lending figure from the FC blog and you can see the WL folk accounted for rather more than half (and the PL numbers include all those large property loans).

And just to cap it all, it looks as if one of my A+ loans has stopped breathing...

Presumably, the Floating Consultant(s) are now busy trying to breathe some life into it!

MW

I was watching Summary/Recent Loan Comments.

I think the emails are despatched later in the day.

And I don't want to open my email account as well because I might miss the next E rated loan...

MW

I've had one Thursday default, too and no email. Perhaps the promised phasing out of emails has happened. Only an £8.07 loss though, and apparently one of my limping zombies (currently 355 days late!) has repaid in full to the tune of just over a tenner, so I'm up on the day.