adrianc
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Post by adrianc on Jun 8, 2015 11:53:57 GMT
Twice in the last couple of weeks, I've had loans come back from overdue. Both very nice rate Bs with numbers in the low 7,000s.
Thank you very much, and the SM is thataway... ->
I just want shot, so I'm happy with par, click on the sell button, get the confirmation, and back to the summary tab. Bingo. Gone already. ...both to the same buyer... Oh, what a coincidence...
Enjoy your firmly-dinged parts, if you're one of us, and I genuinely hope you turn a few pennies off 'em.
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SteveT
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Post by SteveT on Jun 8, 2015 12:31:38 GMT
Would that be my old friend b**v**zs? Seems to be programmed to grab anything over a certain level of net return, which is very handy on occasions.
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adrianc
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Post by adrianc on Jun 8, 2015 12:38:03 GMT
I wondered how long before somebody guessed the ID... Yep, that's the one.
Wonder if we can figure out their threshold...?
13.1 on a B was today's.
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rogerbu
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Post by rogerbu on Jun 11, 2015 13:32:24 GMT
I also dumped a few lates recently and saw the instant sales that I guessed were bot purchases. All at par
bxxvxxzs A 10.3%, C 14.0%
Another instant buying bot - PxxxCxxxxxxxxxxxrs - B 13.4%, A+ 9%,
As was said. I am just pleased to have dumped suspect goods.
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mv
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Post by mv on Jun 11, 2015 14:47:02 GMT
I'm always surprised at the people who list parts for sale with a a 3% premium despite having a  rate in the first place and other parts being available at a discount. Seems like a waste of time unless there are some really stupid people out there. I'm also surprised at the people who set ridiculously high rates for their money on RS therefore earning no money on their money for as long as they leave it there. |
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Grezza
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Post by Grezza on Jun 11, 2015 15:16:10 GMT
I wondered how long before somebody guessed the ID... Yep, that's the one. Wonder if we can figure out their threshold...? 13.1 on a B was today's. Yup, I see he/she/it bought my late payer at par too. Also paid 2% premium on 12.2% mid term B loan I was offloading per my own 'rules', no problem with repayments. Must be someone building a portfolio double quick time, they'll get some good and some bad and hope to achieve a satisfactory return by diversification? Not if the bot buys all our 'sour' loan parts up!! So perhaps not a bot, but an 'idibot'? I'm going to try for a premium on the next problem loan I can put on the SM. Is that ethical?
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adrianc
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Post by adrianc on Jun 11, 2015 15:38:52 GMT
Also paid 2% premium on 12.2% mid term B loan I was offloading 12.2% raw then 2%, or 12.2% after the 2%? If the former, then... wow.
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fasty
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Post by fasty on Jun 11, 2015 15:43:36 GMT
I wondered how long before somebody guessed the ID... Yep, that's the one. Wonder if we can figure out their threshold...? 13.1 on a B was today's. Yup, I see he/she/it bought my late payer at par too. Also paid 2% premium on 12.2% mid term B loan I was offloading per my own 'rules', no problem with repayments. Must be someone building a portfolio double quick time, they'll get some good and some bad and hope to achieve a satisfactory return by diversification? Not if the bot buys all our 'sour' loan parts up!! So perhaps not a bot, but an 'idibot'? I'm going to try for a premium on the next problem loan I can put on the SM. Is that ethical? Oh yes indeedy, I believe that selling your toxic trash imperfect loan parts at a premium is more ethical, because poor innocent granny investor using autobid can't accidentally buy them. Loan parts being sold on the SM at a premium can only be purchased by manual buyers who have every opportunity to examine the repayment record and associated notes. I cannot have sympathy for bid-bots that blindly hoover up anything. Loan parts that have experienced "issues" not mentioned by FC is another matter entirely and has been discussed in another thread.
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Grezza
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Post by Grezza on Jun 11, 2015 21:03:31 GMT
Yup, I see he/she/it bought my late payer at par too. Also paid 2% premium on 12.2% mid term B loan I was offloading per my own 'rules', no problem with repayments. Must be someone building a portfolio double quick time, they'll get some good and some bad and hope to achieve a satisfactory return by diversification? Not if the bot buys all our 'sour' loan parts up!! So perhaps not a bot, but an 'idibot'? I'm going to try for a premium on the next problem loan I can put on the SM. Is that ethical? Oh yes indeedy, I believe that selling your toxic trash imperfect loan parts at a premium is more ethical, because poor innocent granny investor using autobid can't accidentally buy them. Loan parts being sold on the SM at a premium can only be purchased by manual buyers who have every opportunity to examine the repayment record and associated notes. I cannot have sympathy for bid-bots that blindly hoover up anything. Loan parts that have experienced "issues" not mentioned by FC is another matter entirely and has been discussed in another thread. Thank you fasty, I will sleep a little easier tonight!!
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SteveT
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Post by SteveT on Jun 12, 2015 15:18:17 GMT
Surprised to find notes appended to 2 of my loans this afternoon suggesting the borrower is looking to repay early, but still with their Rate Bands in place. Listed them immediately on the SM at 3% premium (original rates were >14%) and they were snaffled within seconds. I only hope they went to greedy bots and not to incautious manual bidders...
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Post by goldservice on Jun 12, 2015 18:38:55 GMT
I also got such a note for such a loan and have followed your example. But can you explain to me why it makes sense to sell them quick at a 3% premium rather than keep them and earn the high rate? If the loan is not actually repaid for some time ...
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Post by GSV3MIaC on Jun 12, 2015 19:27:56 GMT
Because 3% in ten minutes = 15% for 10 weeks or so, and hopefully you can have the money back in earning at least SOMETHING before the 10 weeks is up.
p.s. And maybe more if the 3% isn't taxable but the 15% is!!
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Post by grumbledore on Jun 12, 2015 21:19:40 GMT
Surprised to find notes appended to 2 of my loans this afternoon suggesting the borrower is looking to repay early, but still with their Rate Bands in place. Listed them immediately on the SM at 3% premium (original rates were >14%) and they were snaffled within seconds. I only hope they went to greedy bots and not to incautious manual bidders... I done the same. Was really surprised Feeling Carefree allowed me to list it for sale.
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maxmarengo
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Post by maxmarengo on Jun 13, 2015 13:18:25 GMT
I actually bought one of those loans, saw the note and sold it right away. It wasn't at a 3% premium so I still made a very small profit on the deal.
To me this is a flaw in FC's processes. Once they flag a loan as about to be repaid it should not be on the SM.
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adrianc
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Post by adrianc on Jun 13, 2015 14:57:17 GMT
I only hope they went to greedy bots and not to incautious manual bidders... M* M?
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rate in the first place and other parts being available at a discount. Seems like a waste of time unless there are some really stupid people out there.
