Property parts on the SM (at Par)

Another one headed to a loving new home yesterday.

Some time ago we observed a "feature" of the secondary market which caused recently-listed loan parts to sell quicker than ones listed previously. A sort of "Last-In-First-Out" (LIFO) process seemed to be happening. Very frustrating, although once you understood what was happening then potentially you could use it to your advantage simply by re-listing loan parts again and again.
Now, we were assured by our Frolicking Chums that this problem had been resolved, and indeed things did seem to improve.
But now and again.... well, I wonder if it's quite as "random" as we are led to beleive?

One thing I would note is that there are several unsold A+ loan parts with rates higher than the typical property loans of 8%.

I wonder if autobid is now doing the sane thing and buying the best buyer rate available (for a given risk, and excluding any where the user already has [adequate] exposure) rather than merely ANY loan part with a buyer rate exceeding the configured minimum for the user.

I noticed that rates available on auctions (at least during days 2-6) have increased, which will allow more autobid money through to the primary market, and if it's being more selective about secondary loans, maybe it's simply that there's now an adequate supply of loan parts that autobid "prefers" to the property loans?


I'd also note that the total loan parts sold (as reported on the statistics page, although I see the chart of this number that elljay maintains seems to have broken when the number hit £100M [Edit: I see this is updating again - thanks elljay!]) is still only increasing by an amount a little over £1M per week, of which "property parts at par" would be only a fraction... and last I looked there were around 105000 separate loan parts for sale of which over 51000 were at or below par... of these the "first" 500 on the pagination I was using were valued at over £60k, so the whole lot would be several million pounds worth - representing many weeks of sales at current volume, even before more loan parts are added to the pile!

I'd already suggested (more than once) that the 0.5%/1% could maybe be upped a bit for these secured loans, where the chance of a complete wipe-out ought to be rather small. That means the autobid folks could acquire more at primary auction. Whether they could acquire more on the SM (if they showed up too late for the initial auction(s)) would still depend on whether autobuy on the SM had a glimmer of intelligence. 8>. If you want £3m loan spread out among folks at 0.5% per, you need £600m of ready/willing/able buyer capital (and probably 2-3x that, given not everyone would really want to play). I don't think FC have that much in play (?) in which case they absolutely require some diversity criminals.

It makes a vast difference to the appeal of the property loans if Autobid is now going to ignore them on the SM. I will certainly not be investing any more funds in Further Creaking property loans unless they're sufficiently attractive to hold for the duration (which means max 6 - 9 months term if the deal remains no better than 8% + 2%CB)

Could be manual purchases. Still nothing here.