fasty
Member of DD Central
Posts: 1,038 
Likes: 388
|
Post by fasty on Oct 13, 2015 20:09:23 GMT
I'm glad you felt clear to send that opinion. Protocol suggests time for a break; it was getting a bit much.
|
|
|
|
Post by bonfemme on Oct 14, 2015 9:10:31 GMT
I've just accidentally sold a loan part (Nursery Expansion 1731) which had two repayments left to make. I bought it at 8.3 back in November 2012. I sold it at zero mark up for £1.26 and the loan parts sold page tells me the buyer rate was 16.5pc. Surely this isn't possible or am I missing something?
|
|
am
Posts: 1,495
Likes: 601
|
Post by am on Oct 14, 2015 9:47:18 GMT
I've just accidentally sold a loan part (Nursery Expansion 1731) which had two repayments left to make. I bought it at 8.3 back in November 2012. I sold it at zero mark up for £1.26 and the loan parts sold page tells me the buyer rate was 16.5pc. Surely this isn't possible or am I missing something? The buyer rate includes the interest which is due and any capital gain included. If you bought it at a discount then the official rate on the loan part would be less than 8.3%, and the next buyer is getting a combination of entitlement to interest and capital gain. With two repayments left it doesn't take much of a capital gain to cause a drastic increase in buyer rate. (I accidentally bought - I had switched on autobid to trawl for early closers - a loan part at nominally (roughly) 27%. This loan had a history of late repayment, and repaid the final installment late as well, so the actual rate achieved was rather less.) FC should be able to tell you whether my explanation is correct.
|
|
acky
Posts: 481
Likes: 262
|
Post by acky on Oct 14, 2015 10:23:22 GMT
I've just accidentally sold a loan part (Nursery Expansion 1731) which had two repayments left to make. I bought it at 8.3 back in November 2012. I sold it at zero mark up for £1.26 and the loan parts sold page tells me the buyer rate was 16.5pc. Surely this isn't possible or am I missing something? This loan has two repayments left, the first being only a couple of days away. This sort of freak buyer rate can arise near the end of the term for a small loan part due to roundings. You can't pay or receive less than a penny, but the interest on £1.26 for a month would be 0.87 pence and the repayments are about 63p per month. So the necessary rounding in each month's payment can play havoc with the apparent annualised interest rate, especially given that half the outstanding principal will be paid in only 2 days time.
|
|
awk
Posts: 276
Likes: 147
|
Post by awk on Dec 11, 2015 10:12:17 GMT
Apart from A+, which seems pretty much stuck, all the other risk bands are down ~0.4% on the *SM* over the last month (from a not very exciting starting position too) and 1% down on the year (looking at the price for the 500th part of £100 or less). A+ A B C C- 12/31/2014 9.9 10.8 11.8 13.4 13.6 31/01/2015 8.9 10.4 11.4 12.9 13.5 28/02/2015 9.1 10.2 11.1 12.9 13.7 31/03/2015 9.1 9.8 10.7 12.4 13.3 How low can it go? Hi GSV3MIaC, just wondered if you have kept this list going? it was very useful. after a good run, strange things (like I'm not selling anything) started a couple of days ago awk
|
|
|
|
Post by GSV3MIaC on Dec 11, 2015 10:30:58 GMT
Yes, I (well my program) have kept it going. I also have noticed sales taking a dive, both over the last month (down 50% on the month before) and this last week(down to near zero), both of which I attribute to the large number of loans on the PM, and the fact FC now allows autobodge to take 100% of them (after 2 days). Anyway, here is the data (I think there was a more recent version than you quoted, but I'll give you the whole of 2015 so far):
A+ A B C D E
01/01/2015 9.9 10.8 11.7 13.3 13.6
01/02/2015 8.9 10.3 11.2 12.9 13.5
01/03/2015 9.1 10.2 11.1 12.9 13.6
01/04/2015 9.1 9.7 10.8 12.3 13.3
01/05/2015 9.0 11.0 10.8 12.4 13.5
01/06/2015 9.4 10.8 11.2 12.2 13.6
01/07/2015 9.6 10.9 11.8 12.3 13.5
01/08/2015 10.1 11.0 12.1 12.7 13.9 18.0
01/09/2015 10.2 11.4 12.1 13.4 14.3 18.1
01/10/2015 9.4 10.5 11.3 12.3 13.9 17.8
01/11/2015 9.4 10.2 11.2 12.1 13.9 17.9
01/12/2015 10.1 10.1 11.4 12.2 14.0 18.0
11/12/2015 10.0 10.2 11.2 12.2 14.0 18.1
Sadly I don't track SM volumes, so I can't tell you how much sales have declined overall..
|
|
awk
Posts: 276
Likes: 147
|
Post by awk on Dec 11, 2015 11:01:45 GMT
Many thanks
Yes, I was just being lazy and picked up your very first post in the thread!
I guess the property loans flatter your A+ and A stats with have gone the other way to B and C since aug/sep. My experience it that the non-property have tracked down quite a bit.
Keep up the good work
awk
|
|
|
|
Post by GSV3MIaC on Dec 11, 2015 11:26:05 GMT
Yes, these are prices for the 500th (small size) part, so A+/A is dominated by CB property loans being flipped. The other categories are dominated by newer loans, since that's where most of the sales action is. I also track what my parts actually sold for (last 60 days), although the sample sizes are rather smaller .. in some cases these will be parts from just one loan. As you can see, in many cases I am selling at a lower rate / higher markup than the 'part 500' flipper-fest would imply. (reject is something that was offered as a WL but not taken up. "Int Only" covers most, if not all, the CB property loans).
A+ Int Only A Int Only A+ PL A+ Reject A PL A Reject B PL B Reject C PL C Reject D PL D Reject E PL E Reject
8.15% 9.25% 8.20% 8.86% 9.80% 10.01% 10.84% 11.14% 11.89% 12.75% 13.89% 13.79% 17.27% 17.54%
|
|
sl75
Posts: 2,092
Likes: 1,245
|
Post by sl75 on Dec 11, 2015 11:52:20 GMT
Sadly I don't track SM volumes, so I can't tell you how much sales have declined overall.. However, elljay does, and the chart he maintains on his website of " loan trades" doesn't seem to suggest any significant overall decline.
|
|
jamesc
Member of DD Central
Posts: 447
Likes: 253
|
Post by jamesc on Dec 15, 2015 10:41:25 GMT
With the rate of new loans running down before xmas has anyone noticed a pick up in SM sales ?
|
|
|
|
Post by ratrace on Dec 15, 2015 11:04:18 GMT
There was some great value on offer in the D band on Sunday night/Monday morning in the SM. As it seemed that a number of lenders had off loaded their older loans in D band over the weekend. My guess is that a story in the Daily Mail over the weekend about the increase in tax returns that small bussiness will have to do. Has made lenders worry about their higher risk loans due to the extra costs this change will make. Sadly l did not have the money on tap to take advantage of these great offers.  |
|
adrianc
Member of DD Central
Posts: 10,015
Likes: 5,144
|
Post by adrianc on Dec 15, 2015 11:34:29 GMT
With the rate of new loans running down before xmas has anyone noticed a pick up in SM sales ? Quite the opposite.
|
|
min
Member of DD Central
Posts: 615
Likes: 182
|
Post by min on Dec 15, 2015 11:47:33 GMT
With the rate of new loans running down before xmas has anyone noticed a pick up in SM sales ? Quite the opposite. Likewise. Sales have been very slow the last few days
|
|
fasty
Member of DD Central
Posts: 1,038
Likes: 388
|
Post by fasty on Dec 15, 2015 12:15:08 GMT
Likewise. Sales have been very slow the last few days Very slow here too. Perhaps one of the naughty Frolicking Chimps slipped and knocked the lever all the way to MaxPM.
|
|
maxmarengo
Member of DD Central
Posts: 96
Likes: 28
|
Post by maxmarengo on Dec 15, 2015 12:41:46 GMT
Best rates on offer are rising as well - also suggestive of a dearth of buyers.
Rates on the SM are much better than for new loans. I think the gap is more than enough to compensate for the increased default risk.
I wonder if the number of people taking their money away is having an impact?
|
|
