jonah
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Post by jonah on Jul 6, 2015 5:09:54 GMT
19.3 still there...
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coop
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Post by coop on Jul 6, 2015 9:06:53 GMT
The vertically enhanced one has been kicked out. Will the £30k go back in, at what rate, and when? It took quite a while for 19.4% to be bid out. Unless there's a last minute rush this looks as if it's going to finish above 18.2%. Still over three days left, grasshopper.
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blender
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Post by blender on Jul 6, 2015 9:36:57 GMT
The £30k is back in at MBR. I have done the same with my knocked out bids. Will the ones at 18.9% survive the race between the others knocked out rebidding and the borrower noticing that it is at 18.4% and might as well be taken? Such excitement!
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coop
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Post by coop on Jul 6, 2015 14:22:46 GMT
Last orders being called on 13924; just under £8k left in at 18.3%.
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fasty
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Post by fasty on Jul 6, 2015 15:38:54 GMT
Latest E-rated £10k just swallowed up in about a minute as one sumptuous baz-shaped amuse-bouche. I managed to score a couple of crumbs.
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SteveT
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Post by SteveT on Jul 6, 2015 16:51:27 GMT
£52k E loan just arrived
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SteveT
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Post by SteveT on Jul 6, 2015 18:32:08 GMT
And another one (a £52k E), listed later than usual at 19.23. Doesn't look like the big guys have spotted it yet.
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fasty
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Post by fasty on Jul 6, 2015 18:40:15 GMT
And another one (a £52k E), listed later than usual at 19.23. Doesn't look like the big guys have spotted it yet. Shhhh... Nah, too late, it's been found
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adrianc
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Post by adrianc on Jul 6, 2015 19:16:07 GMT
There's now 11 Es sat there at 100% MBR, but not yet drawn down - and only four drawn down, going by the number with parts on the SM. What d'you think the chances of them not being refused are? Slim, thinks I.
If anything persuades FC that 18.2% isn't realistic, it's going to be that... Not the Flipping Chubsters.
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kt
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Post by kt on Jul 6, 2015 21:34:22 GMT
Would the borrowers not already know what the MBR is? Therefore should they not be happy? In so far as anyone with an E rating could be happy.
KT
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fasty
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Post by fasty on Jul 6, 2015 21:48:10 GMT
Would the borrowers not already know what the MBR is? Therefore should they not be happy? In so far as anyone with an E rating could be happy. KT Correct me if I'm wrong, but I believe that the borrower doesn't know they got assigned Band E until their application has been processed and the auction starts. By implication, this is also when they discover that their MBR is 18.2% rather than the much smaller MBR associated with the other risk bands. I can't imagine them being too happy at 18.%, but all they can do is sit back and watch the auction happen. I predict that only the most desperate 25% are going to take up at this rate.
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kt
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Post by kt on Jul 6, 2015 21:50:06 GMT
Oh. I did not know this. This makes a lot more sense. What a strange process. I would want to know what risk you set me at before placing my details online.
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blender
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Post by blender on Jul 6, 2015 21:57:46 GMT
If you could pull out of the process then FC would be doing a lot of wasted free assessments for people who just wanted to know what might be available through FC. It may well be that the refusal rate for E band will be higher, though some of the first loans will presumably those who were recently refused but have been invited back into the process - they will know what to expect when they say yes or no.
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TitoPuente
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Post by TitoPuente on Jul 7, 2015 8:02:36 GMT
Haven't all of the E loans so far closed at MBR?
In the other bands, a majority of smaller loans are also closing at MBR.
What's wrong? I don't think the problem is the MBR rigidity per se. I think that the bottom line is that at this point Fictitious Conundrum is struggling to bring enough deal flow to the amount of capital that is pouring in on the lender side.
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fasty
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Post by fasty on Jul 7, 2015 8:21:19 GMT
Haven't all of the E loans so far closed at MBR? In the other bands, a majority of smaller loans are also closing at MBR. What's wrong? I don't think the problem is the MBR rigidity per se. I think that the bottom line is that at this point Fictitious Conundrum is struggling to bring enough deal flow to the amount of capital that is pouring in on the lender side. Yes, even the £168k E-band finally trickled down to 18.2%. I'm sure that the borrowers don't consider that anything is "wrong" with their loans reaching MBR! We're seen rates continuously drift up and down over the years, although the present low does seem to have lasted a long time. Presumably the whole loan marketplace has also had an effect.
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