SteveT
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Post by SteveT on Jul 2, 2015 15:15:19 GMT
I wonder if there may be a few fingers burnt on 13924, a few of the smaller flippers went in straight away at the minimum and it's still only 61% full after over 3 hours. Of course there is plenty of time to go but I wouldn't like to say for certain that it will close at the minimum. The one who stuck in £3k at MBR just half an hour ago presumably must be confident that it will (or else isn't around much over the next couple of days)
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wysiati
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Post by wysiati on Jul 2, 2015 15:28:13 GMT
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Post by Deleted on Jul 2, 2015 15:29:55 GMT
You gamers are going to come to a sticky end.
The gamers have milked the old ratings and so FC have created new ones.
Eventually someone will get left with bad debt. It's a game of Russian Roulette, someone is going to pull the trigger with a bullet in the chamber.
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am
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Post by am on Jul 2, 2015 15:33:47 GMT
13924 is a victim of this shambolic risk banding. It could have been an A+. I doubt it will be accepted even at MBR. Good credit rating, decent profit margin and ROCE, accounts "only" 3 months old; the only obvious negative point is it's rather highly geared. One wonders what rate they're paying for invoice discounting if a FC loan at 18.2% is cheaper. Risk bands are supposed to represent expected losses, not expected default rates, so will reflect FC's opinion of the worth of directors' guarantees, which I suspect account for some of the discrepancies between FC's rate banding and what the commentariat think. Looking at the 5 year financial summary, the net worth is flatlined (presumably money has been taken out as dividends) and the ratio of current liabilities to current assets is steadily increasing. Current liabilities greater than current assets is not necessarily a problem - if the assets have a sufficiently greater velocity to compensate. But the divergence of the two is a bit of a red flag.
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SteveT
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Post by SteveT on Jul 2, 2015 15:35:28 GMT
Another E. £35k
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Post by nightmare on Jul 2, 2015 15:35:39 GMT
This is in respect of my earlier comment about loan 13924 (I'm not very good with forums).
I still think that there will be problems ahead, of the £44k or so at the min I'd say around £40k are flippers. The only thing that will drive it all the way down to 18.2 across the board are even more flippers and there could well be a supply outweighs demand come maturity. In addition flippers won't want to be sat with loads of Es for very long and the abandon ship siren might sound fairly quickly. I do a bit of flipping myself but wouldn't touch this with a proverbial barge pole but each to their own.
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blender
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Post by blender on Jul 2, 2015 15:41:05 GMT
No secret formulae there - just some of the possible ingredients. Usefulness summed up by: 'Only businesses that we determine to be creditworthy are allowed to borrow through Funding Circle.'
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SteveT
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Post by SteveT on Jul 2, 2015 15:50:38 GMT
Hung around briefly but then Baz spotted it ...
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Post by nightmare on Jul 2, 2015 15:53:56 GMT
Hung around briefly but then Baz spotted it ... Wonder if his bot has been 'dining too well' and he's had to xfer more money in from elsewhere, it would explain the delay.
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Post by bonfemme on Jul 2, 2015 16:11:36 GMT
Borrowers only get advised of their given risk band at the time of listing. At 18.2%pa + fees wouldn't you want to make absolutely certain there are no alternatives? Maybe they're having an udder think! It's now in pre-agreement
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wysiati
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Post by wysiati on Jul 2, 2015 16:34:39 GMT
Hung around briefly but then Baz spotted it ... Wonder if his bot has been 'dining too well' and he's had to xfer more money in from elsewhere, it would explain the delay. ...even bots need the occasional toilet break?
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nick
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Post by nick on Jul 2, 2015 16:58:45 GMT
And another £50k E loan listed, they are coming on thick and fast.........saturation point tommorrow?
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adrianc
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Post by adrianc on Jul 2, 2015 17:05:42 GMT
So, currently...
Ten listed.
Four open and filling.
Three filled at MBR but not drawn down.
Two filled at MBR, definitely drawn down, with ~25% by value sitting on SM.
One that was showing filled at MBR but has now disappeared. Drawn down but not on SM yet? Declined?
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nick
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Post by nick on Jul 2, 2015 17:16:01 GMT
So, currently... Ten listed. Four open and filling. Three filled at MBR but not drawn down. Two filled at MBR, definitely drawn down, with ~25% by value sitting on SM. One that was showing filled at MBR but has now disappeared. Drawn down but not on SM yet? Declined? Oh, there's another 20k. Come Monday/Tuesday and I don't think E loans will be closing at MBR and we should start to see a real auction......
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fasty
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Post by fasty on Jul 2, 2015 17:18:55 GMT
Hmmm
I'm wondering whether launching so many E-grade loans in quick succession may have consequences that the Frolicking Chimps have not anticipated.
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