oldgrumpy
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Post by oldgrumpy on Feb 27, 2014 15:52:53 GMT
Just mucking about really. Where there's muck there's brass! Edit: Just put up another 10 C- at 11.5% about 25 minutes ago and one has just sold, therefore no apparent FC fiddling to stifle the secondary market. Now to get 11.5% on an A or a B  (Hoping it won't get thrown back by the borrower. FC have too many bigger loans going on currently and the high end rates are resulting in companies getting funding elsewhere, or suddenly not needing the money. Do they lose fees already paid to FC for setting up the deal? 5095 L. for Cash Flow has just done that. Looks like they had parallel requests took the best offer. I can see the £150K G***** & Expansion 5053 going the same way, and FC have already messed up on that one. I wonder if FC actually warn requesters of these maximum amounts that they probably won't get close to MBR. Edit: four of the C- gone in under an hour....if it stops there I suppose we can call that a four gone conclusion. Hahahahahaha! 
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blender
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Post by blender on Feb 27, 2014 17:26:52 GMT
Just mucking about really. Where there's muck there's brass! Edit: Just put up another 10 C- at 11.5% about 25 minutes ago and one has just sold, therefore no apparent FC fiddling to stifle the secondary market. Now to get 11.5% on an A or a B (Hoping it won't get thrown back by the borrower. FC have too many bigger loans going on currently and the high end rates are resulting in companies getting funding elsewhere, or suddenly not needing the money. Do they lose fees already paid to FC for setting up the deal? 5095 L. for Cash Flow has just done that. Looks like they had parallel requests took the best offer. Edit: four gone in under an hour....if it stops there I suppose we can call that a four gone conclusion. Hahahahahaha!
Borrowers do not pay fees as cash to FC - we do. When the borrower draws down the loan FC subtract the fee from it and keep the fee. If the borrower does not take the loan no fee is paid. All they need ever do is make the repayments (not in scrap metal). How do you know that your loan parts were bought by an Autobidder? Could be a manual bidder keen to earn interest from day one. If more than one part of the same loan was bought by one lender then it is definitely manual. I have had 34 C- loan parts on sale all day at 11.5% par and not one sold, perhaps FC have a system which favours grumpy primates. Or perhaps there is rationing among sellers and you have to catch up with my overnight sales?
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oldgrumpy
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Post by oldgrumpy on Feb 27, 2014 17:32:18 GMT
"...perhaps FC have a system which favours grumpy primates."
I do hope so. The four C- were all different, sub £20 and bought by the same buyer. I had four other C- bought earlier today also at par, different buyers, though one bought two of them. I never bought more than one £20 slice of C- in those days at min rate. Don't buy any at min rate now. Also sold quite a few B 8.3% at par. Grumpy has had a good day on the secondary today. 
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Post by bracknellboy on Feb 27, 2014 21:44:35 GMT
Edit: four of the C- gone in under an hour....if it stops there I suppose we can call that a four gone conclusion. Hahahahahaha!
G*d help us. I hope you aren't also in the market for fo** *andles.
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Post by GSV3MIaC on Feb 27, 2014 22:44:26 GMT
The secondary market at par for <£20 parts seems fairly OK .. I wonder if we will get an update on the number of parts at par (or discount) floating around? I've had some larger (£40) parts stuck for a long time. I guess maybe newbies don't invest large enough sums (or have their autobid set to reject 9.7% Cs).
The 'marked up' market is still fairly crazy .. someone SELLING C-s at 14.6%. I actually looked at 'the available yield on the 300th best loan part, £40 or less, in each risk band' (300 being a number I plucked out of thin air), and got 7.4%, 10.6%, 11.5%, 12.4% and 12.8% respectively .. As for 10.6%, 'tis plumb crazy. (This is just 300 parts, they may all be from the same loan, that wasn't a criterion for this analysis). Remember the MBR for these is (IIRC) 6%, 7.9%, 8.9%, 9.9% and 11.6%. Back at Xmas parts were regularly selling at a premium at under MBR.
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merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Feb 27, 2014 23:30:40 GMT
The secondary market at par for <£20 parts seems fairly OK .. I wonder if we will get an update on the number of parts at par (or discount) floating around? I've had some larger (£40) parts stuck for a long time. I guess maybe newbies don't invest large enough sums (or have their autobid set to reject 9.7% Cs). The 'marked up' market is still fairly crazy .. someone SELLING C-s at 14.6%. I actually looked at 'the available yield on the 300th best loan part, £40 or less, in each risk band' (300 being a number I plucked out of thin air), and got 7.4%, 10.6%, 11.5%, 12.4% and 12.8% respectively .. As for 10.6%, 'tis plumb crazy. (This is just 300 parts, they may all be from the same loan, that wasn't a criterion for this analysis). Remember the MBR for these is (IIRC) 6%, 7.9%, 8.9%, 9.9% and 11.6%. Back at Xmas parts were regularly selling at a premium at under MBR. If you were able to track the price movements of the secondary market and indeed the primary market for the last 18 or so months I guess you would see it flowing in waves. Effectively periods of high prices then slow declines followed by high prices again on a continuing basis. there are several people on here who do track prices, defaults etc. who might want to chip in on this one. No doubt the waves are driven by liquidity but only FC have reliable information on that, and the levers to manipulate it as well. Currently we seem to have a high price primary market and an erratic secondary market which currently suits me fine having dumped most of my lower value holdings a small premiums during the Xmas and the New Year. So to my simple mind it is time to buy, we will move into the reverse progressively over the next month or so.
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wysiati
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Post by wysiati on Feb 28, 2014 20:48:10 GMT
Looking at the notes on loan # 3032 it seems that FC has again been less than forthcoming with all the details. For example, 11/12/13 lenders were notified to expect payments to restart in January; what FC has not disclosed is the c.£72k CCJ dated 02/12/13 (I can't believe that they are totally ignorant of its existence). Rather like the C***s B****r L*******k Ltd loan # 1328 also referred to in the rebuildingsociety thread here and on the FC official forum FC appears to have been content to just be fobbed off while other creditors make their moves.
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oldgrumpy
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Post by oldgrumpy on Feb 28, 2014 21:17:32 GMT
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wysiati
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Post by wysiati on Feb 28, 2014 21:55:55 GMT
Apologies for the mix up.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Feb 28, 2014 22:01:00 GMT
No apologies necessary. I've done it a couple of times, and managed to step back a second before submitting a couple of times too. Sometimes the quote is just the right size to fill the screen and one naturally slams the cursor in at the bottom of the quote rather than in the space below it. I have flagged it up to Admin Towers, but they believe most people aren't as dozy as me.  |
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Post by GSV3MIaC on Mar 1, 2014 22:07:26 GMT
No apologies necessary. I've done it a couple of times, and managed to step back a second before submitting a couple of times too. Sometimes the quote is just the right size to fill the screen and one naturally slams the cursor in at the bottom of the quote rather than in the space below it. I have flagged it up to Admin Towers, but they believe most people aren't as dozy as me. I'm every bit as dozy as you, and doing it on a tablet sometimes it is almost impossible to get out of the quote box if you start there. It's nice that this board is independent, but the underlying architecture somewhat sux (and the 'click here to remove ads' bugs me every time).
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Post by bracknellboy on Mar 1, 2014 22:15:52 GMT
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Post by GSV3MIaC on Mar 2, 2014 8:57:10 GMT
What, no single P2P provider feeling rich enough to subsidize the site for a year or two?? When I make my first million I guess I'll do it myself... I didn't realise that if anyone paid, everyone loses the adverts, I read it as 'per user'.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 3, 2014 17:27:02 GMT
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blender
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Post by blender on Mar 3, 2014 18:05:24 GMT
Having reddit, for someone who does not hold it but is concerned about who FC gives loans to - how is the person in question connected to this company and loan, if not a director? Not named on the filed accounts? From FC's statement everyone looks clean - so how is criminality connected with this loan?
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(Hoping it won't get thrown back by the borrower. FC have too many bigger loans going on currently and the high end rates are resulting in companies getting funding elsewhere, or suddenly not needing the money. Do they lose fees already paid to FC for setting up the deal? 5095 L. for Cash Flow has just done that. Looks like they had parallel requests took the best offer. I can see the £150K G***** & Expansion 5053 going the same way, and FC have already messed up on that one. I wonder if FC actually warn requesters of these maximum amounts that they probably won't get close to MBR.
