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Post by ladywhitenap on Sept 8, 2015 7:20:13 GMT
In last Fridays general update the predictions were
" Pipeline Loans
Apartments + land with planning, Torquay - Probably going Live Next Friday or Following Monday. (11th or 14th)
****** Farm, Somerset - Probably going Live Monday. (7th)
Commercial, Hackney - Probably going Live Monday. (7th)
Residential, Hackney - Probably going Live Monday. (7th)
Land in Hull - Probably going Live Today, completing today or Monday. (4th or 7th)
Land with planning, Scotland - Probably going Live Weds. (9th)
Office building, Somerset - Probably going live in 2 weeks." (on or after 18th?)
In another thread, a degree of chaos was predicted for yesterday (Monday). As it turned out with only the "land in Hull" going live, things seemed quite sedate with allocations of 91.8% to prefunders. The sm seemed to work well for lenders to adjust their holding levels too. Well done SS!
Was this careful management by SS and are we perhaps to see 1 loan going live each day? Or will the 3 predicted loans from Hackney and Somerset go live today 1 day later than predicted as the Hull loan did?
I'm a fan of the prefunding in general, perhaps with a little more polish as time goes on but also more info policy regarding releasing loans and say 24hr notice emails of new loans going live.
Incidentally I certainly do NOT support linking prefunding allocations to the level of cash on deposit at the time of the offer.
LW
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adrianc
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Post by adrianc on Sept 8, 2015 7:24:09 GMT
Was this careful management by SS and are we perhaps to see 1 loan going live each day? Or will the 3 predicted loans from Hackney and Somerset go live today 1 day later than predicted as the Hull loan did? I'm a fan of the prefunding in general, perhaps with ... more info policy regarding releasing loans and say 24hr notice emails of new loans going live. SS have already said that loans are released as soon as they're ready to be released, and that's dependent on the legals being completed, which can be unpredictable. Although you're right - it doesn't seem too far beyond the scope of reality to build 24hr notice in to that...
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Post by savingstream on Sept 8, 2015 7:26:18 GMT
Morning, we kind of gave a weekends notice...
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jonah
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Post by jonah on Sept 8, 2015 7:32:06 GMT
Morning, we kind of gave a weekends notice... True. any thoughts on the probabilities for the rest of the week?
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ilmoro
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'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 8, 2015 7:39:00 GMT
Was this careful management by SS and are we perhaps to see 1 loan going live each day? Or will the 3 predicted loans from Hackney and Somerset go live today 1 day later than predicted as the Hull loan did? I'm a fan of the prefunding in general, perhaps with ... more info policy regarding releasing loans and say 24hr notice emails of new loans going live. SS have already said that loans are released as soon as they're ready to be released, and that's dependent on the legals being completed, which can be unpredictable. Although you're right - it doesn't seem too far beyond the scope of reality to build 24hr notice in to that... SS have generally proved spectacular unable to predict anything eg. The loans that have been repaying imminently for months. Stops things from getting boring 
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Post by savingstream on Sept 8, 2015 8:02:47 GMT
Morning, we kind of gave a weekends notice... True. any thoughts on the probabilities for the rest of the week? We are hoping to go live imminently with : Scotland land Somerset Farm Hackney x resi and commercial The A********* in Torquay is quite large so we will need to get that up and running soon too, but probably towards the end of the week if not next. The valuation for the office building in Somerset is happening this week, looking likely for next week but probably the following.
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adrianc
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Post by adrianc on Sept 8, 2015 8:03:16 GMT
Morning, we kind of gave a weekends notice... I think LWN was hoping for a bit more precision. "This will go live at noon on Tuesday", rather than "Well, probably Monday". After all, Tuesday's here now, and the three that were down for yesterday haven't shown, the one that was down for last Friday (same day as the notice!) or yesterday is the only one that has. BTW, you had Scotland down for Wed 10th - Wed's the 9th, Thu's the 10th.
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jonah
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Post by jonah on Sept 8, 2015 8:05:41 GMT
So three more likes this week, maybe even today.  |
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sam i am
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Post by sam i am on Sept 8, 2015 8:29:13 GMT
True. any thoughts on the probabilities for the rest of the week? We are hoping to go live imminently with : Scotland land Somerset Farm Hackney x resi and commercial The A******** in Torquay is quite large so we will need to get that up and running soon too, but probably towards the end of the week if not next. The valuation for the office building in Somerset is happening this week, looking likely for next week but probably the following. Thanks SS for at least giving us some guidance. It may not be perfect but I'd rather see some information rather than none.
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Post by ladywhitenap on Sept 8, 2015 10:04:27 GMT
Morning, we kind of gave a weekends notice... I think LWN was hoping for a bit more precision. "This will go live at noon on Tuesday", rather than "Well, probably Monday". After all, Tuesday's here now, and the three that were down for yesterday haven't shown, the one that was down for last Friday (same day as the notice!) or yesterday is the only one that has. BTW, you had Scotland down for Wed 10th - Wed's the 9th, Thu's the 10th. That was my error which I have now corrected. The only reason I'm after a little more precision is that it can take a day or so to get cash into the right account to sort out the BACS deficits on SS and I don't like keeping too much completely idle. LW
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webwiz
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Post by webwiz on Sept 8, 2015 11:27:56 GMT
Incidentally I certainly do NOT support linking prefunding allocations to the level of cash on deposit at the time of the offer. LW Why not? I can think of two possible reasons: 1) You will not earn any interest on cash on deposit. True but you only need to obtain about 0.3% more of your share of the loan for each day waiting. 2) You intend to bid for far more than you actually want. If many people abuse the system in this way Prefunding will not work.
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Post by nickthefool on Sept 8, 2015 12:04:45 GMT
Doesn't apply to me but if say you wanted to deposit £100k+ as a new member (or, an existing member who dipped their toe a while ago), I can see this being pretty difficult if you can only use prefunding up to £1k.
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SteveT
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Post by SteveT on Sept 8, 2015 12:18:24 GMT
Incidentally I certainly do NOT support linking prefunding allocations to the level of cash on deposit at the time of the offer. LW Why not? I can think of two possible reasons: 1) You will not earn any interest on cash on deposit. True but you only need to obtain about 0.3% more of your share of the loan for each day waiting. 2) You intend to bid for far more than you actually want. If many people abuse the system in this way Prefunding will not work. There is absolutely no problem with the current system (which I think greatly encourages liquidity and rapid take-up of new loans) that cannot be solved by: a) tweaking the pre-funding allocation model to reduce the incentive to "game" the process. For example, by restricting the maximum pre-fund target to 1% of smaller loans, and ideally giving all applicants at least a baseline minimum allocation. and b) making sure that lenders' BACS deficits are reduced (either automatically or manually) as other loan parts are sold. Other P2P sites get around the cash reconciliation headache by asking lenders to pre-notify how much money is being transferred into the account, which seems an obvious solution. There could still be a requirement that any deficits are cleared within 48 hours.
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arbster
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Post by arbster on Sept 8, 2015 12:27:55 GMT
We are hoping to go live imminently with... There is a certain games developer that always promises it's next release "SOON (tm)", which is taken to mean any time between tomorrow and next year. savingstream's use of "imminently" sometimes feels faintly reminiscent of this, especially with respect to repayments of overdue loans and new loans going live. Of course, ablrateandy uses "today" and "this week" in a similar fashion...
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jonah
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Post by jonah on Sept 8, 2015 12:33:17 GMT
We are hoping to go live imminently with... There is a certain games developer that always promises it's next release "SOON (tm)", which is taken to mean any time between tomorrow and next year. savingstream's use of "imminently" sometimes feels faintly reminiscent of this, especially with respect to repayments of overdue loans and new loans going live. Of course, ablrateandy uses "today" and "this week" in a similar fashion... It's far too early in the year for a snow storm or blizzard.
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