am
Posts: 1,495
Likes: 601
|
Post by am on May 4, 2015 10:47:53 GMT
I read elsewhere that a significant proportion of loans on ThinCats are failing to fill. Assuming that this is a result of a shortage of lenders, rather than of the loan quality, is there any prospect of a reduction to the minimum bid size and minimum secondary market fee in order to attract lenders who wish to maintain a higher degree of diversification?
|
|
|
Post by tybalt on May 4, 2015 12:29:30 GMT
I doubt it. ThinCats Australia opted for Aus$ 1,000 which is ANADCTS £ 500. The question has been asked recently on one of their forums without producing a response from management.
I think there are significant numbers who are disinvesting and that loan quality is an issue.
|
|
indy
Member of DD Central
Posts: 57
Likes: 18
|
Post by indy on May 4, 2015 13:56:05 GMT
There is no shortage of investors on TC.
The £1000 minimum is what attracted me to TC in the first place, there are a lot of very clever investors on this platform who ask questions us mere mortals would never even think of. Any issues with the loans on offer soon get found out and highlighted.
There have been some issues with some of the recent loans. Short term loans with good security still fill quickly.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on May 4, 2015 15:13:57 GMT
There is no shortage of investors on TC. The £1000 minimum is what attracted me to TC in the first place, there are a lot of very clever investors on this platform who ask questions us mere mortals would never even think of. Any issues with the loans on offer soon get found out and highlighted. There have been some issues with some of the recent loans. Short term loans with good security still fill quickly. If that were the case there would be no need to cancel/reprice/accept part-filled auctions etc, even leaving aside perceived quality issues. It is preferable not to get 'star-struck' by other users and certainly do not invest because a user you rate (wisely or otherwise) is participating. One of the prominent lenders who is now affiliated with a sponsor acknowledged, IIRC, that they had underperformed autobid on FC, so anyone can have unimpressive outcomes.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on May 4, 2015 21:23:52 GMT
From a platform's perspective there are enough lenders when any loan deemed acceptable for listing is funded on the terms originally put to investors.
To suggest that lenders spotting things others (including the platform/sponsors/intermediaries) have missed is confined to TC is a nonsense.
Look at the standardised default data for the P2PFA platforms and the supposedly more sophisticated investor base so far appears to count for ****.
|
|
|
Post by gmaxkenny on May 4, 2015 22:43:51 GMT
From a platform's perspective there are enough lenders when any loan deemed acceptable for listing is funded on the terms originally put to investors. To suggest that lenders spotting things others (including the platform/sponsors/intermediaries) have missed is confined to TC is a nonsense. Look at the standardised default data for the P2PFA platforms and the supposedly more sophisticated investor base so far appears to count for ****. If you had ever read posts on the TC forum (the investor one) you would see that many times investors spot flaws in loans offered that have not shown up in the sponsors report and often problems come to light in the Q&A on loan offerings. The main reasons for loans failing to fill are too low interest rate or some sponsors not doing all their homework. Good quality loans at the right interest rate have no problem filling and they have just had 2 record breaking months so the £1000 min does not seem to be a problem for them.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on May 5, 2015 9:27:16 GMT
From a platform's perspective there are enough lenders when any loan deemed acceptable for listing is funded on the terms originally put to investors. To suggest that lenders spotting things others (including the platform/sponsors/intermediaries) have missed is confined to TC is a nonsense. Look at the standardised default data for the P2PFA platforms and the supposedly more sophisticated investor base so far appears to count for ****. If you had ever read posts on the TC forum (the investor one) you would see that many times investors spot flaws in loans offered that have not shown up in the sponsors report and often problems come to light in the Q&A on loan offerings. The main reasons for loans failing to fill are too low interest rate or some sponsors not doing all their homework. Good quality loans at the right interest rate have no problem filling and they have just had 2 record breaking months so the £1000 min does not seem to be a problem for them. If you had paid more attention you would be aware that TC has signed an underwriting deal (£50m facility) to help fill larger loans so the management did not feel that the investor base as it stood was sufficient to help the platform fulfil its potential within the desired timeframe. Having been among the more proactive debunkers of TC loan request statements I do not think that I need any lessons from you on that subject. By providing more information than the majority of platforms TC is naturally open to more fault-finding. Were you to be correct in your contention that only 'good quality loans' at 'the right interest rate' have been able to get funding then the platform stats would arguably look rather better, particularly in comparison to (according to some) boring/less-sophisticated options.
|
|
|
Post by gmaxkenny on May 5, 2015 10:17:19 GMT
By the way you respond to people with your superior attitude you are obviously an arrogant person who believes only your opinion matters. If you cant debate with others perhaps you should debate with yourself offline as you believe your are the only one capable of such an onerous task.
|
|
indy
Member of DD Central
Posts: 57
Likes: 18
|
Post by indy on May 5, 2015 11:39:45 GMT
I an not sure what underwriter's have to do with anything...........they are still investors.
I also invest in AC, SS, and Ablrate which all have underwriters and imo this gives the platforms even more legitamacy.
As for being 'star struck' I am not even going there, I have over £100k invested in P2P/B. I think I can make my own mind up. The crowd due diligence on TC is second to none and different people see things from different angles.
|
|
Steerpike
Member of DD Central
Posts: 1,959
Likes: 1,680
|
Post by Steerpike on May 5, 2015 11:49:46 GMT
There are indeed widely differing perspectives in P2P.
Some may consider a minimum investment of £10,000 or £1,000 too high, a REBS investor may even consider the FC £20 minimum too high.
LendInvest recently ran a Loyalty scheme whereby investors could get an extra 1% on all loans if they topped up their account with an additional net amount of £100,000 or more.
|
|
|
Post by uncletone on May 5, 2015 12:00:04 GMT
By the way you respond to people.... This is getting a little too far from the "Please be polite and constructive." rule on this forum. Please replace the handbag in the holster. Thank you.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on May 5, 2015 13:04:26 GMT
I an not sure what underwriter's have to do with anything...........they are still investors. I also invest in AC, SS, and Ablrate which all have underwriters and imo this gives the platforms even more legitamacy. As for being 'star struck' I am not even going there, I have over £100k invested in P2P/B. I think I can make my own mind up. The crowd due diligence on TC is second to none and different people see things from different angles. It is clearly a mistake to assume that the size of funds invested is necessarily a useful measure of competence. Some of the most telling contributions and, arguably more importantly, investment outcomes, IMO come from those with relatively modest funds to invest. Opinions will vary as to the quality of due diligence but again, the hard data which are available 3-4 years in do not yet suggest that it is more effective (in terms of avoiding defaults, for example) than a platform with no or more limited scope for lender due diligence.
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on May 5, 2015 13:09:01 GMT
By the way you respond to people with your superior attitude you are obviously an arrogant person who believes only your opinion matters. If you cant debate with others perhaps you should debate with yourself offline as you believe your are the only one capable of such an onerous task. No, I just appreciate the difference between being informed (and using facts where possible to back up an argument) rather than merely being opinionated. The tone in my earlier response simply mirrored the superior tone of your own, "If you had ever read posts on the TC forum (the investor one) you would see..."
|
|
|
Post by gmaxkenny on May 5, 2015 13:53:29 GMT
By the way you respond to people with your superior attitude you are obviously an arrogant person who believes only your opinion matters. If you cant debate with others perhaps you should debate with yourself offline as you believe your are the only one capable of such an onerous task. No, I just appreciate the difference between being informed (and using facts where possible to back up an argument) rather than merely being opinionated. The tone in my earlier response simply mirrored the superior tone of your own, "If you had ever read posts on the TC forum (the investor one) you would see..."Two record breaking months in a row is fact not opinion. The reason I asked if you had read posts on what I call the investor forum is because I do not know if you are an investor in TC or not,I can see how my original post could be misunderstood on that point.
|
|
indy
Member of DD Central
Posts: 57
Likes: 18
|
Post by indy on May 5, 2015 17:59:09 GMT
I an not sure what underwriter's have to do with anything...........they are still investors. I also invest in AC, SS, and Ablrate which all have underwriters and imo this gives the platforms even more legitamacy. As for being 'star struck' I am not even going there, I have over £100k invested in P2P/B. I think I can make my own mind up. The crowd due diligence on TC is second to none and different people see things from different angles. It is clearly a mistake to assume that the size of funds invested is necessarily a useful measure of competence. Some of the most telling contributions and, arguably more importantly, investment outcomes, IMO come from those with relatively modest funds to invest. Opinions will vary as to the quality of due diligence but again, the hard data which are available 3-4 years in do not yet suggest that it is more effective (in terms of avoiding defaults, for example) than a platform with no or more limited scope for lender due diligence.I am bored with this now, you obviously have no idea what you are talking about I have said all I am going to say.
|
|