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Post by goldservice on Nov 19, 2015 8:25:56 GMT
nick - I'm puzzled. If you lack opportunity, then why don't you take the opportunity on the SM that you originally recommended to others?
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min
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Post by min on Nov 19, 2015 11:14:23 GMT
17059 didn't accept. "The borrower is not yet in a position to accept the funds from Funding Circle and has thus rejected the offer."
That's 15 days since my bid! Not best pleased.
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Post by GSV3MIaC on Nov 19, 2015 11:56:07 GMT
Ah , that'll be the new 'faster acceptance under fixed rates' kicking in .. previously it would have been 16 or more days. Hmm, then again, perhaps the 'faster acceptance' stats don't actually include any which don't accept, like the SM 'time to sell' stats ignore (or used to) the ones which don't actually sell. 8>. Long live Mark Twain.
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nick
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Post by nick on Nov 19, 2015 12:02:21 GMT
nick - I'm puzzled. If you lack opportunity, then why don't you take the opportunity on the SM that you originally recommended to others? Out of habit, but your are right - I should probably heed my own advice more! Historically better returns could be generated by buying on the PM and boosted by selling at a reasonable premium, if you had the time and willingness to be active. It also complimented my desire to be fairly fully invested whilst at the same time diversifying across a larger number of loans as new E loans are brought to market. As premiums have fallen in SM, the relative economics of buying on the PM vs secondary are marginal, but I still primarily participate in the PM out of habit and top up holdings in some loans in the SM or for those where I've missed the original auction. If I was time poor or less addicted to clicking in auctions I wouldn't bother being at the mercy of browser alerts each time a new loan pops up and would buy in the SM at my leisure........
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Post by hj on Nov 19, 2015 12:24:36 GMT
17059 didn't accept. "The borrower is not yet in a position to accept the funds from Funding Circle and has thus rejected the offer." That's 15 days since my bid! Not best pleased. How can I find out when a borrower doesn't accept? I woke up to a balance worth at least 2 and likely 4 sets of bids, but I can't find that one in my watchlist, so I don't think I was in it. Is there an easier way than clicking all the 0%s in the watchlist and looking for the date/amount of my bid?
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acky
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Post by acky on Nov 19, 2015 12:27:26 GMT
Summary page, My Bids, select "Rejected" from drop down list. Click Bid time column if necessary to sort most recent to top
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Post by hj on Nov 19, 2015 12:50:16 GMT
Thanks, that worked nicely  Now to work out why I couldn't find it on my watchlist, since it claims to be there.... |
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nick
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Post by nick on Nov 19, 2015 15:42:09 GMT
"Please note that this loan request has been cancelled due to additional information coming to light regarding the borrower’s position. Thank you for your patience, FC." Whose fault would it be that such "additional information" didn't show up on the credit searches? FC's for not searching properly, or ReBS for not accurately reporting it? (or the credit reference bureaux for not providing the information when requested?) It is very concerning when lender's are highlighting undisclosed debts which haven't been picked up in the underwriting process
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mikeb
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Post by mikeb on Nov 19, 2015 20:50:24 GMT
Whose fault would it be that such "additional information" didn't show up on the credit searches? FC's for not searching properly, or ReBS for not accurately reporting it? (or the credit reference bureaux for not providing the information when requested?) It is very concerning when lender's are highlighting undisclosed debts which haven't been picked up in the underwriting process Not really: You should be glad that lenders HAVE highlighted it. It's called crowd due-diligence. Something that certain platforms seem very keen to stamp out, by reducing the necessity to answer the Q&A, reducing the time frame for stuff to come out of the woodwork etc.
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Post by GSV3MIaC on Nov 19, 2015 21:10:24 GMT
And 'underwriting' isn't really the right term for people who have no skin in the game (usually). They do the risk assessment, and you take the risk.
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bjorn
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Post by bjorn on Nov 21, 2015 11:36:11 GMT
I wouldn't bother being at the mercy of browser alerts each time a new loan pops up and would buy in the SM at my leisure........ I take it that Autobid doesn't bid on new E loans in time then?
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Post by goldservice on Nov 21, 2015 12:07:29 GMT
That's right. There are at least two reasons why not. The wisdom on this board is that Autobodge runs as a batch process from time to time rather than continuously so it may not be running when an E loan is open. And when it does run, it has to work its way through thousands of lender investment wishes.
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bigfoot12
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Post by bigfoot12 on Nov 21, 2015 16:23:37 GMT
The wisdom on this board is that Autobodge runs as a batch process from time to time rather than continuously... I have spent a lot of time looking at the FC website in the last few weeks and I haven't seen auction % filled 'jump' as a batch process would suggest. My guess is that it slowly cycles through all lenders perhaps taking many hours per cycle.
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SteveT
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E-Alert!
Nov 21, 2015 16:49:31 GMT
via mobile
Post by SteveT on Nov 21, 2015 16:49:31 GMT
The wisdom on this board is that Autobodge runs as a batch process from time to time rather than continuously... I have spent a lot of time looking at the FC website in the last few weeks and I haven't seen auction % filled 'jump' as a batch process would suggest. My guess is that it slowly cycles through all lenders perhaps taking many hours per cycle. If you look at the breakdown of bids each hour (the FCViz extension for Chrome does this as a graph) you'll see that 70-80% of Autobids are placed overnight in a 6-8 hour window
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adrianc
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Post by adrianc on Nov 21, 2015 16:58:35 GMT
I have spent a lot of time looking at the FC website in the last few weeks and I haven't seen auction % filled 'jump' as a batch process would suggest. My guess is that it slowly cycles through all lenders perhaps taking many hours per cycle. If you look at the breakdown of bids each hour (the FCViz extension for Chrome does this as a graph) you'll see that 70-80% of Autobids are placed overnight in a 6-8 hour window I wonder how that correlates to the overnight repayments...?
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