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Post by bracknellboy on May 5, 2015 19:37:35 GMT
As posted by uncletone earlier but now more required: Please put away the handbags and take chill pills.
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wysiati
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Post by wysiati on May 10, 2015 20:09:24 GMT
As posted by uncletone earlier but now more required: Please put away the handbags and take chill pills. No handbags here, just an acknowledgement that sl75 has so far been supported in his early scepticism as to whether the TC lender base (self-proclaimed '(more) sophisticated' and extra disclosure/scope for due diligence would achieve superior default rates compared to other platforms. So far this has not been the case but it is proving difficult for some to accept whereas I have amended my stance.
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shimself
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Post by shimself on May 11, 2015 15:30:20 GMT
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've found this www.p2pmoney.co.uk/statistics/baddebt.htm but TC don't feature; where are you looking please?
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shimself
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Post by shimself on May 11, 2015 15:41:38 GMT
...sl75 has so far been supported in his early scepticism as to whether the TC lender base (self-proclaimed '(more) sophisticated' and extra disclosure/scope for due diligence would achieve superior default rates compared to other platforms. So far this has not been the case but it is proving difficult for some to accept whereas I have amended my stance. I have an explanation which covers both; the TC crowd due diligence, doesn't prevent people from investing even if the DD is unearthing problems, so loans can get filled regardless. Conversly a loan which doesn't fill won't appear in the default stats. Hmm. As for cancelling and repricing, that's because of crowd DD I'm not sure about your assertion that more loans are failing to fill, do you have data? Thanks
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wysiati
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Post by wysiati on May 18, 2015 11:49:14 GMT
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've found this www.p2pmoney.co.uk/statistics/baddebt.htm but TC don't feature; where are you looking please? There are links on the P2PFA website data page: p2pfa.info/dataThe TC data are skewed somewhat by the 2012 vintage but lumpiness is in the nature of lemons market returns.
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wysiati
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Post by wysiati on May 18, 2015 12:36:51 GMT
...sl75 has so far been supported in his early scepticism as to whether the TC lender base (self-proclaimed '(more) sophisticated' and extra disclosure/scope for due diligence would achieve superior default rates compared to other platforms. So far this has not been the case but it is proving difficult for some to accept whereas I have amended my stance. I have an explanation which covers both; the TC crowd due diligence, doesn't prevent people from investing even if the DD is unearthing problems, so loans can get filled regardless. Conversly a loan which doesn't fill won't appear in the default stats. Hmm. As for cancelling and repricing, that's because of crowd DD I'm not sure about your assertion that more loans are failing to fill, do you have data? Thanks One of the original arguments being made in its strong form was that the superior 'wisdom of the crowd' effect/potential on TC was such that bad deals would simply not be funded, even allowing for those in the flock who might have perceived lower standards. Collectively each platform and its lenders (and in some cases intermediaries/sponsors) needs to 'own' what they have knowingly funded rather than ascribe the aggregate outcome to a few fools. Again, from a platform's perspective it has enough investors when deal flow can be funded in a timely manner on the terms originally sought. On AC you now see much more 'horse trading' (or some might argue this is just the output from due diligence) in the underwriting process and the risk for that pool of participants is that AC decides for commercial reasons to do a deal similar to TC and bring in institutional underwriting to displace them. I used to pay more attention to TC and did have data on auction outcomes which occasionally clashed somewhat with some of the spin-mail received about claimed 'success rates'. As happened in some cases, one could argue as to whether raising a level of funding materially short of what was originally sought at annualised rates significantly above what was originally sought/offered really constituted a successful outcome. Looking just now, of the 4 ended auctions still showing (all offered at rates of 12.5-13%pa) 2 of these were fully funded and the others were filled c.75% and c.92% respectively by the crowd. Auction durations appear to have been lengthened and of the live auctions which have 4-9 days remaining the headline fill levels are 69%, 30%, 53%, 49%, 13%, and 30% from crowd bids so there is a residual funding need of >£1.3m. The cost of funding in terms of interest rates is also something I imagine TC would like to work on. That is just a snapshot but one can see the attraction of bringing in new sources of (institutional) funding/underwriting to ensure deals go ahead and/or to 'grease the wheels' by encouraging crowd participation where adoption thresholds are proving unhelpful and it can be stated from the outset that the loan is guaranteed to be fully funded and (barring any unforeseen glitches / new developments) to go live.
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Steerpike
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Post by Steerpike on May 18, 2015 12:50:19 GMT
Also, TC has a similarity to FC Autobid in the shape of the TLCs.
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sqh
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Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on May 20, 2015 8:19:06 GMT
Also, TC has a similarity to FC Autobid in the shape of the TLCs. Do you know what happened to this month's TLC? I often log on near the end of the month and invest £1k but nowhere to be seen.
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Steerpike
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Post by Steerpike on May 20, 2015 9:05:21 GMT
I hadn't realised that TC start a new TLC each month. I invested in TLCs when I first started on TC some years ago but since then I prefer to select loans myself. It's been pretty busy at TC so perhaps there was no time for TLC recently.
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Post by gmaxkenny on May 20, 2015 17:37:11 GMT
As far as I know the last TLC was in April. They are not doing them anymore,something to do with software upgrade not compatible with TLCs I believe.
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Post by tybalt on May 21, 2015 9:00:26 GMT
As far as I know the last TLC was in April. They are not doing them anymore,something to do with software upgrade not compatible with TLCs I believe. Where did you pick that up from ? Just curious as I have not seen anything from them on this.
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Post by gmaxkenny on May 21, 2015 11:54:40 GMT
I think it was on the forum. I remember reading about a site update and that TLCs were finishing in april. Unfortunately I cant remember the thread or which of the two forums it was on.
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Post by tybalt on May 21, 2015 12:39:49 GMT
Thanks - I must have missed it
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Post by tybalt on May 21, 2015 15:21:43 GMT
TLC Loan 33 listed Today and included
"This TLC is expected to be the last one in the series and may never be repeated. We had been hoping to transfer the ThinCats platform during April 2015 to new software which will include a computer operated auto-bidding facility similar to the one that TLCs have been attempting to replicate but the software transfer has been delayed. Despite the fact that we said all this before with TLC31 and TLC32 we think that TLC33 is actually likely to be the last one ever."
Straight from the Horses mouth or the Cat's whiskers.
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Post by bracknellboy on May 21, 2015 18:53:18 GMT
TLC Loan 33 listed Today and included
"This TLC is expected to be the last one in the series and may never be repeated. We had been hoping to transfer the ThinCats platform during April 2015 to new software which will include a computer operated auto-bidding facility similar to the one that TLCs have been attempting to replicate but the software transfer has been delayed. Despite the fact that we said all this before with TLC31 and TLC32 we think that TLC33 is actually likely to be the last one ever."
Straight from the Horses mouth or the Cat's whiskers. Or based on the track record of prior unsuccessful prediction, perhaps that should read 'straight from the horses a**e'.
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