SM rates

I've just sold 2 8+1CB at par, that I only bought yesterday. Pretty good AER if I could keep it up.

In comparison, the sale of my property parts is Frankly Constipated. I have 140 parts on sale at par but sell only about one a day. They are all 8% A+ or 9% A. Are you selling higher rate property parts?

It'll take something.  1% CB isn't tempting me into some of the current auctions.  I don't know how much CB it would take to get me to overexpose myself to a £400K A36.

Yep, me too.
Another interesting factlet ... On the SM, the buyers rates for reject-WL loan parts is consistently 0.5% to 1% higher than for regular PL parts (except fr D\E where there is no headroom). Whether that is recent I don't know, because I never looked at that split before. I will post a table when I get near a serious computer.

Here it is:

             mid max

A+ PL: 7.4% 8.1%
A+ Reject: 8.4% 8.9%

A PL: 8.5% 9.0%
A Reject: 8.8% 9.5%

B PL: 9.7% 10.4%
B Reject: 10.5% 11.0%

C PL: 10.4% 11.2%
C Reject: 11.5% 12.0%

D PL: 12.9% 13.4%
D Reject: 12.9% 13.5%

E PL: 17.0% 17.6%
E Reject: 17.4% 17.8%

Caveat - this is for a selection of loans I checked (ones on the SM, obviously), and there will be more PL loans, including many older ones, than 'rejected WL' ones (only existed for the last 18 months or so). Numbers are a slightly-weighted average of the loans I looked at.

I've got this automated assistant, remember .. since she no longer has any bidding (much) to do, she can go pick a random SM loan every few minutes and look at the parts on offer (she can also scan the SM for new parts, and buy any that look like a good deal .. but she doesn't (yet).. plenty of others doing that, and since I am in running down mode, not much point). Oh, you need to have preloaded the FC loanbook, so you know what was a rejected WL and what wasn't (but you need that anyway so you can see the late/retry/comment history of these wonderful SM parts you are being offered, and to work out the real default rates over time, and what is significant and what isn't).

Yep the primary market marginal and average (bid) rates for those rejected WLs was probably higher too (hence feeding through into the SM), although I didn't actually look at that .. not much point these days. About the best you can do now (if you still want to play at all) is avoid the rejected WL deals, unless there is significant cashback, in which case buy and flip fast ..[historically what you could/should do was bid higher .. and probably still flip fast].

Which is why those bots are armed and primed and on red alert

Maybe .. or maybe b*z is sitting there going 'how do I program a 20% limit into this thing anyway?'.

Father Christmas seems to have peaked (or is that 'troughed') early this year. I mean I expect single digit numbers of  loans to consider on 30th December, maybe, but not in middle of October.