TitoPuente
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Post by TitoPuente on Jul 1, 2015 11:03:15 GMT
If autobid is not going to autobuy E loan parts, then the flipping thesis for E-bands would rely solely on manual bidders. Would this be enough market? or E-bands would become like property A-pluses that sell slower than they mature? Flipping relies solely on manual bidders on most occaisions anyway; as autobid doesn't buy anything with a premium. You are absolutely right. My concern was more related to offloading parts after a certain holding period, at par. I should not have labeled that as flipping.
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pom
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Post by pom on Jul 1, 2015 11:06:04 GMT
And the second one bid down to the min in under an hour...
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Post by longjohn on Jul 1, 2015 11:07:14 GMT
Whilst the site seems to have coped with the change from C- to D and the introduction of E loans the Loanbook is conspicuous by its absence.
Wonder if someone is manually doing a search and replace for C- to D in Excel?
John
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coop
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Post by coop on Jul 1, 2015 11:10:30 GMT
Hmm; a quck "find and replace" jobby would get that done in about 30 seconds though.
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Post by longjohn on Jul 1, 2015 11:16:19 GMT
Hmm; a quck "find and replace" jobby would get that done in about 30 seconds though. but we're talking about Fumbling Computers here.
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coop
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Post by coop on Jul 1, 2015 11:37:34 GMT
Anyone else impatiently awaiting drawdown?
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blender
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Post by blender on Jul 1, 2015 12:01:02 GMT
The loan book was updated when I checked it, with all the C- changed to D. The other bands all still have the risk description, such as average risk for C, for all new loans even though those words have been banished from the platform. I was hoping to find a description of E risk in the loan book, such as 'barge pole' - but perhaps they are saving that for the 'F' band.
I don't think I want to flip E loans, it seems sort of grubby. Strange because I am happy to flip property bought with cash back. Must be the loan quality.
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mv
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Post by mv on Jul 1, 2015 13:15:23 GMT
It's a shame they are selling out before any Qs and As can be exchanged with the borrowers.
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Post by GSV3MIaC on Jul 1, 2015 15:17:27 GMT
I note that HMG are not sticking their 10% into Es, so I guess maybe they are smarter than I thought. 8>.
Did anyone notice if the maximum bid rate for D got changed during the shuffle (I assume this AM's maintenance outage was to introduce the new band(s)) ?
I suspect it won't have, but it's hard to check
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coop
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Post by coop on Jul 1, 2015 15:30:49 GMT
Last one went quick!
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SteveT
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Post by SteveT on Jul 1, 2015 15:32:09 GMT
I note that HMG are not sticking their 10% into Es, so I guess maybe they are smarter than I thought. 8>. Did anyone notice if the maximum bid rate for D got changed during the shuffle (I assume this AM's maintenance outage was to introduce the new band(s)) ? I suspect it won't have, but it's hard to check Still at 15% on 13906
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Steerpike
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Post by Steerpike on Jul 1, 2015 15:32:17 GMT
BAZ! and it's gone!
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coop
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Post by coop on Jul 1, 2015 15:34:11 GMT
I think we all know who the big winners in this will be....
Baz; the digger and possibly the tall one but I haven't seen him jump in yet.
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fasty
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Post by fasty on Jul 1, 2015 16:06:21 GMT
Jump if you want some 13910
Edit : *BAZ* Gone in a few minutes.
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adrianc
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Post by adrianc on Jul 1, 2015 16:30:06 GMT
I think we all know who the big winners in this will be... Depends on if anybody buys their flippings, surely? If not, then they're left with a heck of a lot of mildly iffy parts at MBR for the risk band. Woo. Go them. I shall try to control my envy. Is 18.2% too high a rate for the risk? Perhaps. Perhaps not. (What does the 18.2% headline work out to when you hit it with the expected bad debts, anyway?) One thing's for sure, the borrowers would have to be fairly damn desperate to go for it... and if ever they get their credit rating to a worthwhile point, they'll be refinancing as soon as they can, to avoid paying that usury for any longer than need be...
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