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Post by aloanatlast on Oct 26, 2015 10:50:51 GMT
So when they said they'd tell us if they were going to do this, they meant, they'll tell us immediately before they do it. 24 minutes before zero in this case.
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SteveT
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Post by SteveT on Oct 26, 2015 10:51:33 GMT
16576, £450 short, 45 minutes to go. FC haven't said they're going to fill it. They have now... "Q. 26 Oct 2015 10:39 - FC Comment: Please note, if this loan does not fully fund, FC Finance will buy the remaining loan parts within the last thrity minutes of the listing. Thanks, FC. " Contemplating whether to try and beat them to it (and then try to remember to put a 0.3% premium on it). Why as long as 30 minutes anyway? A reasonably well-trained monkey could get the necessary single bid in with less than a minute to go... Would a reasonably well-trained monkey really set their sights as low as Foolish Chimpanzees?
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sl75
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Post by sl75 on Oct 26, 2015 10:53:18 GMT
Why as long as 30 minutes anyway? A reasonably well-trained monkey could get the necessary single bid in with less than a minute to go... Would a reasonably well-trained monkey really set their sights as low as Foolish Chimpanzees? Depends who their trainer was I suppose! Seems they held off for a few more minutes, presumbably to allow any other interested parties to show their hand knowing it won't be a "waste of time on an auction that's not going to fill anyway"...? ... but still jumped in denying anyone planning on bidding in the final 10 minutes the opportunity to do so. Also looks like their monkey needs further training in counting up to 22.
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blender
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Post by blender on Oct 26, 2015 10:55:16 GMT
I believe that loan requests should be allowed to fail sometimes. Some may not fill because the crowd wisdom realises that the borrower is flakey and doesn't wish to invest. Others may not fill because the rates offered are simply not high enough. In my (perhaps over-simplistic and naïve) opinion, consistently baling out faltering loan applications is not healthy for the marketplace. You are not keeping up, fasty. You are just an investor. FC makes the lending decisions and if FC says the business is credit worthy at the amount required, then FC shall set the interest rate and decree that the loan shall be filled. Just like any other lender.
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acky
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Post by acky on Oct 26, 2015 12:03:24 GMT
16576, £450 short, 45 minutes to go. FC haven't said they're going to fill it. Are they gambling or have they got another rabbit in the hat?
I have the distinct impression that Autobid has shot its bolt on all the current auctions. Nothing is moving except my sales at par.
So now we have even a titchy £52K stuck at 75% and looking like it might not fill.
But if FC do the obvious thing and raise the Autobid limit, then the SM sales at par are liable to dry up completely.
Which of course will mean that we'll lose interest in cashback, and Autobid will never find 100% of the big ones.
Not surprised 16686 is stuck at 75% - very small business, small profits, negative net assets, financials more than a year out of date, very low and plummeted credit score, rubbish "business profile". And yet it's A+! We don't know about the strength of the PG, of course, but even so, putting this loan as A+ makes a mockery of the grading imo. Extraordinary!
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acky
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Post by acky on Nov 5, 2015 16:49:11 GMT
Is it me, or has FC just got rather tedious? Endless succession of poor quality A and A+ loans relentlessly being filled by Autobiddies, occasional D and E going so fast only a bot would see them, 2 cashback property loans seemingly stuck, SM par sales grinding to a halt, and 22 non-property loans on the market of which 19 are called "Growth and Expansion" and the other 3 "Working Capital", so not even the Faintly Creative loan titles that we used to get. The only excitement we get is when Fiddling Coders try to "fix" the website.
And just to prove my point, the most interesting discussion on this forum today pertains to the pedary attributes of chameleons!
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min
Member of DD Central
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Post by min on Nov 5, 2015 17:46:11 GMT
Is it me, or has FC just got rather tedious? Endless succession of poor quality A and A+ loans relentlessly being filled by Autobiddies, occasional D and E going so fast only a bot would see them, 2 cashback property loans seemingly stuck, SM par sales grinding to a halt, and 22 non-property loans on the market of which 19 are called "Growth and Expansion" and the other 3 "Working Capital", so not even the Faintly Creative loan titles that we used to get. The only excitement we get is when Fiddling Coders try to "fix" the website.
And just to prove my point, the most interesting discussion on this forum today pertains to the pedary attributes of chameleons! You ain't wrong. From unreliable but fun to tedious and boring. Fumbling Chameleons have hit rock bottom. Actually don't think they have enough spare cash slopping around. They need a property repayment I think.
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jimbob
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Post by jimbob on Nov 5, 2015 19:25:22 GMT
I've just made ~ 600% effective AER on a loan with Fumbling chickens. Now if only they could all make this  ! |
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min
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Post by min on Nov 10, 2015 10:02:00 GMT
16975 is an A+ (£200,000 +) that was getting close to requiring FC Finance to intervene.
However at 8.42 this morning Steve59 started buying £20 parts. He bought 301 such parts in 3 minutes.
Several questions spring to mind. Firstly unless you were underwriting for Frankly Cashstrapped why would you do this?
And if he is underwriting is he using his own bot or one they've supplied?
Edit: And having filled that one he then moved on to 17015 and did the same thing!
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Post by bonfemme on Nov 10, 2015 10:17:19 GMT
16975 is an A+ (£200,000 +) that was getting close to requiring FC Finance to intervene. However at 8.42 this morning Steve59 started buying £20 parts. He bought 301 such parts in 3 minutes. Several questions spring to mind. Firstly unless you were underwriting for Frankly Cashstrapped why would you do this? And if he is underwriting is he using his own bot or one they've supplied? Edit: And having filled that one he then moved on to 17015 and did the same thing! I smell a rat. There is no reason for anyone to do that as they can only sell at par. I wonder where Steve59 is employed.
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arbster
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Post by arbster on Nov 10, 2015 10:22:46 GMT
Clearly Steve59 will have more flexibility regarding how he disposes of those parts than FC Finance would. However, before we stoke the conspiracy theory fire, I wonder if he had a bot malfunction and is quietly cursing in his palatial basement flat in Kensington...
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Post by aloanatlast on Nov 10, 2015 11:29:25 GMT
He already had a bunch. His prospects of selling them would be blighted if FC were sitting on a bunch that they were going to dump at par.
I expect his bot will now be more careful about buying into loans that might not fill.
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spyrogyra
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Post by spyrogyra on Nov 11, 2015 10:23:11 GMT
16675 (a £70k A) has 116 parts at par. Scary if soon more and more loans are funded by unethical,anti market (imo) methods. The secondary market will be non-functional at all.
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Post by bonfemme on Nov 11, 2015 11:58:32 GMT
Clearly Steve59 will have more flexibility regarding how he disposes of those parts than FC Finance would. However, before we stoke the conspiracy theory fire, I wonder if he had a bot malfunction and is quietly cursing in his palatial basement flat in Kensington... Steve59 has just thrown a load of money at the good-looking D (17227) which won't need any help getting over the line. Clearly, he's not a FC stooge then. Strange behaviour though.
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min
Member of DD Central
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Post by min on Nov 11, 2015 12:17:00 GMT
Clearly Steve59 will have more flexibility regarding how he disposes of those parts than FC Finance would. However, before we stoke the conspiracy theory fire, I wonder if he had a bot malfunction and is quietly cursing in his palatial basement flat in Kensington... Steve59 has just thrown a load of money at the good-looking D (17227) which won't need any help getting over the line. Clearly, he's not a FC stooge then. Strange behaviour though. I can't see Steve59 in there. southseasteve's had a bit but currently dave 1 is gobbling loads of £20 parts.
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