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Post by GSV3MIaC on May 1, 2015 18:04:44 GMT
Is it just me, or has the market quite dried up of late? It must be over a week since I shifted one (at par I mean) .. maybe autobuy has been dazzled by all these unfunded primary market auctions?
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adrianc
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Post by adrianc on May 1, 2015 18:11:48 GMT
Not just property. I've got various sub-wonderful chod, bought at discount, up for par to try to turn a couple of shiny pence from autobodge. No bites at all on anything.
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fasty
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Post by fasty on May 1, 2015 18:13:52 GMT
Absolutely. I'm down to about 5% of usual sales rate.
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blender
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Post by blender on May 1, 2015 18:25:52 GMT
Agreed. I am selling a lot of property parts at small discounts, but nothing at par since one on 28th and one on 27th.
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Post by goldservice on May 1, 2015 19:07:32 GMT
Me too. I had been wondering if Autobid had been told to help fill up all those big property loans before anything else.
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registerme
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Post by registerme on May 1, 2015 19:14:56 GMT
Which begs a question. If the behaviour of autobid (or indeed FC balance sheet use) changes, should those changes be transparent to all lenders and borrowers? As you know, I'm fairly new to this game, but I did spend fifteen years working in IT / trade floor / fixed income / quant / risk functions for an investment bank. There's reputational, operational and regulatory risk all over FC (and, I presume, the other p2p platforms). I'm relatively happy with where it's at, in that it's immature and will evolve, but if I was FC management or an investor I'd be thinking long and hard about things like this.
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SteveT
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Post by SteveT on May 1, 2015 20:17:03 GMT
My last property loan part to sell at par was back on the 26th
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min
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Post by min on May 2, 2015 6:45:47 GMT
My last property loan part to sell at par was back on the 26th Lucky you. Last one here was 15th. Mind you last Monday Flakey Coincidence told me about half a dozen loans that were un-downgraded following the resolution of unspecified credit events. Put all of them up at par and they've been trickling out the door at one a day.
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maxmarengo
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Post by maxmarengo on May 2, 2015 8:16:37 GMT
Sold one yesterday, previous parts on 22/4, 21/4 - all for the same loan. Newer loans not shifting.
Could just be saturation?
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Post by captainconfident on May 2, 2015 9:02:12 GMT
Not just property. I've got various sub-wonderful chod, bought at discount, up for par to try to turn a couple of shiny pence from autobodge. No bites at all on anything. Still enjoying this post, a day later.
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adrianc
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Post by adrianc on May 2, 2015 9:03:52 GMT
This thread prompted me to have a little investigate to see what other sub-wonderful property I'd got kicking about, and lob it all on the market at par. Two sold overnight (58 to go...).
<edit> And another two since then. Clearly there's not total saturation.
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Post by GSV3MIaC on May 3, 2015 16:18:44 GMT
That's pretty good, since I expect repayments have not been happening much, and those are the main driver for autobuy (apart from the few new chums who join and put money in without reading the small print). Practically all loans are now filled, so maybe autobuy will venture into the SM again (there are probably not going to be many, if any, new loans tomorrow either).
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blender
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Post by blender on May 4, 2015 8:11:03 GMT
The last property loan part I sold at par was the first sale on 28th April. I have over a thousand for sale on numerous loans and have sold nearly 300 at a discount since then. Which rather suggests that Fiddling Cheetahs have developed a facility to shut out certain SM loans or loan classes from Autobid when it suits them. There are always some new lenders who would buy the odd one, though doubtless it is in someone's interest that they should 'choose' the latest tranche on the primary market.
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Post by loanstar on May 4, 2015 10:06:37 GMT
I am not active in the SM, but have bought into those loans that have a low LTV. The nature of the property loan sector on Fried Curries will change over the next few months as the first loans issued start to mature. So far the loans have ben filled with new money from either investors or indirectly from FC. In the coming months there will be (hopefully) capital returned that will be looking for a home. FC will be keen for that money not to leak out but be reinvested. At the same time one must assume the flow of new loans will remain the same or increase. I would expect now would be the time that FC would start to make changes to accommodate this. I would be interested in comments on this and any predictions. What will this mean for cash back?
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Post by goldservice on May 4, 2015 10:07:23 GMT
The last property loan part I sold at par was the first sale on 28th April. I have over a thousand for sale on numerous loans and have sold nearly 300 at a discount since then. Which rather suggests that Fiddling Cheetahs have developed a facility to shut out certain SM loans or loan classes from Autobid when it suits them. There are always some new lenders who would buy the odd one, though doubtless it is in someone's interest that they should 'choose' the latest tranche on the primary market. Hmmm ... Would this facility make some of us more wary of buying so many property parts? And would this make it harder to fill some loans?
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