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Post by GSV3MIaC on Jul 13, 2015 19:24:45 GMT
fwiw 14097A closed three days early this afternoon; marginal rate = 11.0% Two weeks ago I might have been following that, but right now there are hundreds of A rated parts on the SM at 11.6% and over, so 11% was not very exciting. 8>.
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Post by goldservice on Jul 13, 2015 19:52:05 GMT
Help - I can't see them. I can see A parts that are in two property loans and of course I'm already up to my diversity limit on those; and there are a few loans over 11.6 but with parts around £800 each and well over six repayments already made - I sell ones like that nowadays! - and only 13 parts in those few loans. "Hundreds"? What am I missing, please?
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Post by GSV3MIaC on Jul 13, 2015 20:27:13 GMT
Yep, most of the highest ones ARE property (particularly Croydon), which is maybe an issue if you are looking to buy and want some more diversity. For those of us expecting to sell, the existence of anything much which is selling at 11%+ (and if you go down that far there are quite a few, even some none-property ones) precludes buying at 11%. Not many buyers are going to buy anything other than a 11.6% or 12% A-rated property part on the SM, unless they hate property, or already have too much thereof.
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registerme
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Post by registerme on Jul 14, 2015 10:39:46 GMT
Yep, most of the highest ones ARE property (particularly Croydon), which is maybe an issue if you are looking to buy and want some more diversity. For those of us expecting to sell, the existence of anything much which is selling at 11%+ (and if you go down that far there are quite a few, even some none-property ones) precludes buying at 11%. Not many buyers are going to buy anything other than a 11.6% or 12% A-rated property part on the SM, unless they hate property, or already have too much thereof. Idle musings - I wonder why so may parts of that loan are for sale on the SM? Also interesting to note that you can get 11.6% with a 0% premium, but there are also parts on sale at a 3% premium.
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Post by GSV3MIaC on Jul 14, 2015 12:23:58 GMT
I suspect someone's bot overbought by loads, assuming it would shift at the 11% all the other A-rated loans can be shifted for? It's another example of the weird risk/reward rating spectrum used by Fundamentally Cockeyed .. this was an A, selling for (fixed) 12% IIRC, E's are selling for a Fixed 18.2% (in practise, ignoring what it says on the tin), but you have to fight and curse and bid and scrap to get a C or D at 12%, and autobid users are (some of them) delighted to take B's off you hands at way less than that.
Anyway, until this heap of parts clears the system (and yes, it was a BIG loan, so lots of parts), the other A+s, As and even Bs, are looking like a comparatively bad deal.
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fasty
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Post by fasty on Jul 14, 2015 15:30:12 GMT
Yes, I noticed that several people were dumping apparently good property parts at par. I had started to wonder whether a bad smell had suddenly drifted over Croydon; I hope not.
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adrianc
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Post by adrianc on Jul 14, 2015 16:09:28 GMT
I had started to wonder whether a bad smell had suddenly drifted over Croydon; I hope not. ITYM "worse"
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Post by GSV3MIaC on Jul 15, 2015 16:02:12 GMT
And 14243 . £42k .. going like hotcakes (maybe hot potatoes?)
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fasty
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Post by fasty on Jul 15, 2015 18:33:22 GMT
I'm suspecting it's not a "keeper"
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adrianc
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Post by adrianc on Jul 15, 2015 19:26:03 GMT
I'm suspecting it's not a "keeper" What could possibly go wrong?
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jonah
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Post by jonah on Jul 15, 2015 19:30:17 GMT
I'm suspecting it's not a "keeper" What could possibly go wrong? Has any E gone 'bang' yet? Any betting on when the first one will?
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fasty
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Post by fasty on Jul 15, 2015 19:33:51 GMT
What could possibly go wrong? Has any E gone 'bang' yet? Any betting on when the first one will? I don't think any of them have existed long enough to have made a payment yet, have they?
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adrianc
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Post by adrianc on Jul 15, 2015 19:46:06 GMT
Has any E gone 'bang' yet? Give 'em half a chance! None are even due to make the first repayment for another fortnight... 12mo E - there's a 92% change it'll make it through to the end, from the estimate default rates. 60mo E - it's only a 66% chance... What was that about diversity? (60mo A+, there's a 97% chance of getting to the end...)
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Post by goldservice on Jul 15, 2015 20:15:41 GMT
I'm suspecting it's not a "keeper" If that's 14259 you're talking about, I see it took 70 mins to fill at MBR. Other Es for a similar amount recently took only about five minutes. What does that tell us? Why would even the flippers ignore it?
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SteveT
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Post by SteveT on Jul 15, 2015 20:24:09 GMT
I'm suspecting it's not a "keeper" If that's 14259 you're talking about, I see it took 70 mins to fill at MBR. Other Es for a similar amount recently took only about five minutes. What does that tell us? Why would even the flippers ignore it? Flippers tend to steer clear of the short term loans because the effect on the resulting Buyer Rate of adding even a modest premium is greatly magnified (by 5 times comparing a 12 month loan to a 60 month loan). Hence the potential for profit is greatly reduced.
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