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Post by bracknellboy on Sept 7, 2015 20:28:07 GMT
chris: slightly surprised to see that having removed the system induced manual investment block yesterday, that I have only managed to acquire an additional £9 ish of this one, given the loan size. Anything potentially odd going on here e.g. underwriters not releasing the normal 50% becuase investment was disabled ? Or is it more simple i.e. the 50% was already swept up before the disabling (think not as I had previously only manage to acqyhire loose change) or has been swept up since and I have simply been slow out the blocks.
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Post by chris on Sept 7, 2015 20:35:18 GMT
bracknellboy - nothing is listed for sale so presumably just too slow out of the blocks, or not many people trading the loan. I've not really looked at the stats recently but I did look quickly at one loan that was unsuspended and not many people actually sold out of it. May be the case here.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 7, 2015 20:35:39 GMT
chris: slightly surprised to see that having removed the system induced manual investment block yesterday, that I have only managed to acquire an additional £9 ish of this one, given the loan size. Anything potentially odd going on here e.g. underwriters not releasing the normal 50% becuase investment was disabled ? Or is it more simple i.e. the 50% was already swept up before the disabling (think not as I had previously only manage to acqyhire loose change) or has been swept up since and I have simply been slow out the blocks. Thought the block was removed 25/8?
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Post by bracknellboy on Sept 7, 2015 20:44:25 GMT
might well have been: if so I was well away from AC and p2p land in general at that time.
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Post by bracknellboy on Sept 7, 2015 20:47:45 GMT
but i think where my suspicion was/is: was the original 50% ever releae onto the market. Trading in the loan was originally suspended very early on as I recall (tax witholding issue......). Then the issue with missing fit rates. So I guess what I
m questioning is whether the standard 50% release from uws has actually happened.
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Post by chris on Sept 7, 2015 20:51:49 GMT
but i think where my suspicion was/is: was the original 50% ever releae onto the market. Trading in the loan was originally suspended very early on as I recall (tax witholding issue......). Then the issue with missing fit rates. So I guess what I m questioning is whether the standard 50% release from uws has actually happened. If the loan drew after last October then yes it would have been automatic (underwriters have a separate investment account called the compulsory sale account, and the loan units sit in there). If before last October then it would always have been manual so may not have been policed.
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Post by Ton ⓉⓞⓃ on Sept 7, 2015 21:57:20 GMT
My understanding, which could be wrong, was simply that the u/w liked it so much he was prepared to take it all, this was amongst the last loans where retail lenders could help fill up the loan before drawdown i.e. be in the primary market (We had the Horseshoe graph where you could see the split between u/w's & Lenders). On the whole lenders didn't bother bidding as everyone thought with such a large loan (£3.4m) that the Aftermarket would be flooded for months afterwards. But the u/w as happy holding the loan and didn't want to sell or didn't sell much. I think less than £100k was taken by retail Lenders, I'm guessing this <£100k is the source of most units on the Market.
The loan page says it drewdown 5th Nov '14
'happy' was the word used at the time...
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Post by chris on Sept 8, 2015 6:06:12 GMT
My understanding, which could be wrong, was simply that the u/w liked it so much he was prepared to take it all, this was amongst the last loans where retail lenders could help fill up the loan before drawdown i.e. be in the primary market (We had the Horseshoe graph where you could see the split between u/w's & Lenders). On the whole lenders didn't bother bidding as everyone thought with such a large loan (£3.4m) that the Aftermarket would be flooded for months afterwards. But the u/w as happy holding the loan and didn't want to sell or didn't sell much. I think less than £100k was taken by retail Lenders, I'm guessing this <£100k is the source of most units on the Market. The loan page says it drewdown 5th Nov '14 'happy' was the word used at the time... I used the wrong word, should have said funded not drew. If there was a horseshoe graph then it was on the old system and the 50% sell through wasn't enforced at that time.
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sl75
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Post by sl75 on Sept 8, 2015 12:59:10 GMT
This was a loan on the old site, where underwriters merely provided an underwriting function, because retail users could also bid on the original loan (I did, for example).
As I recall, the requirement to sell 50% was introduced only for loans on the new website, where retail users cannot bid on the loans before drawdown - it's not so much that the 50% sale wasn't enforced; as far as I know the requirement did not exist at that time. Nor did it need to at that time, because any user could have bid on the original auction, and didn't need to rely on the aftermarket.
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Post by Ton ⓉⓞⓃ on Sept 8, 2015 13:07:26 GMT
This was a loan on the old site, where underwriters merely provided an underwriting function, because retail users could also bid on the original loan (I did, for example). As I recall, the requirement to sell 50% was introduced only for loans on the new website, where retail users cannot bid on the loans before drawdown - it's not so much that the 50% sale wasn't enforced; as far as I know the requirement did not exist at that time. Nor did it need to at that time, because any user could have bid on the original auction, and didn't need to rely on the aftermarket. I think it was just the one u/wer poor guy/girl
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mikes1531
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Post by mikes1531 on Sept 10, 2015 14:57:53 GMT
I've been trying to sell my -- very small -- holding of this loan for a little while, and haven't shifted any of it. It's probably caught in the current Aftermarket problems right now, but once those are cleared up -- hopefully before Chris goes on holiday -- if it doesn't sell then there's another bug stopping sales that will need finding and squashing.
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Post by chris on Sept 11, 2015 10:11:23 GMT
I've been trying to sell my -- very small -- holding of this loan for a little while, and haven't shifted any of it. It's probably caught in the current Aftermarket problems right now, but once those are cleared up -- hopefully before Chris goes on holiday -- if it doesn't sell then there's another bug stopping sales that will need finding and squashing. Should now be resolved.
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mikes1531
Member of DD Central
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Post by mikes1531 on Sept 11, 2015 11:17:40 GMT
I've been trying to sell my -- very small -- holding of this loan for a little while, and haven't shifted any of it. It's probably caught in the current Aftermarket problems right now, but once those are cleared up -- hopefully before Chris goes on holiday -- if it doesn't sell then there's another bug stopping sales that will need finding and squashing. Should now be resolved. : Thanks for your efforts to sort out the glitches. While all of my other 'stuck' transactions have been resolved now, this one hasn't. Might this loan still be being affected by the decision not to allow trading yet in loans with credit monitoring/event issues? There's no "Trading Suspended" flag on this loan, but the note at the top of the loan page says...
"A monitoring event has taken place on this loan and trading is temporarily suspended.
Trading may be continued for those with applicable instructions."
I'm afraid I find that ambiguous. With the old system, there was a tick box where I could acknowledge that I understood the situation and re-activate my buy/sell instructions, but I don't see anything similar in the new system. So at this point I can't tell if my sell request is inactive because of something I've done or something AC have done. Perhaps the wording of the message at the top of the page could be changed to make the situation clearer.
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