acky
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Post by acky on Oct 16, 2015 10:41:42 GMT
I suggest that you do not go any further with discounts than that which gives a buyer rate of 9%. This will be around 0.7% (at 18 months) and will leave you half the cash back. Hackney's an 8% 18 month loan, so 0.7% discount will only take the buyer rate to 8.4% or 8.5%.
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blender
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Post by blender on Oct 16, 2015 13:46:42 GMT
I suggest that you do not go any further with discounts than that which gives a buyer rate of 9%. This will be around 0.7% (at 18 months) and will leave you half the cash back. Hackney's an 8% 18 month loan, so 0.7% discount will only take the buyer rate to 8.4% or 8.5%. Thanks Acky - a senior moment. For 9% read 8.5%, because I would not want to do much more that .7%, and I believe that autobidders tend to select whole or half percents. I sell a lot at 8.5%, and I can feel generous in passing on some benefit to the buyers.
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blender
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Post by blender on Oct 21, 2015 15:41:33 GMT
The borrower is having a long think about 16498 at 6%. I hope FC are not let off paying the mistaken 2% cash back on the loan.
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adrianc
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Post by adrianc on Oct 21, 2015 19:48:14 GMT
The borrower is having a long think about 16498 at 6%. Maybe they were hoping for a better rate...?
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Post by aloanatlast on Oct 22, 2015 3:58:50 GMT
Or FC is raising the cashback money by selling one of the kidneys of whoever made the mistake.
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Post by aloanatlast on Oct 25, 2015 9:11:36 GMT
1% cashback has been added to the two biggies. I don't know when. I looked for a Battle of the Bots to pinpoint the time, but there isn't one, so we must suppose that not more than one bot is programmed to buy these.
And over 70% full with 5 days to go. Looks like Autobid must have run out of steam already - if it were still good for another 10-15%, no need to be so pessimistic.
Also looks like FC have no confidence that last-day cashback would produce the required bidding frenzy.
Becky's latest post in the other place basically said that FC have the levers and they intend to pull them.
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blender
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Post by blender on Oct 25, 2015 9:54:25 GMT
Or FC is raising the cashback money by selling one of the kidneys of whoever made the mistake.
Curiously on this one (16498 with the 2% in error we think) after a week of nothing it has gone to pre-agreement with a repayment date a month after the day of listing/filling (16 Oct). Interest does not normally start until the end of the auction period, unless accepted - which it was not. We shall see.
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acky
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Post by acky on Oct 25, 2015 9:58:41 GMT
1% cashback has been added to the two biggies. I don't know when. I looked for a Battle of the Bots to pinpoint the time, but there isn't one, so we must suppose that not more than one bot is programmed to buy these.
And over 70% full with 5 days to go. Looks like Autobid must have run out of steam already - if it were still good for another 10-15%, no need to be so pessimistic.
Also looks like FC have no confidence that last-day cashback would produce the required bidding frenzy.
Becky's latest post in the other place basically said that FC have the levers and they intend to pull them.
It was added on Friday, wasn't it. I thought about 16693 but then thought better of it. If they can't shift these loans without CB, then surely they'll have to add CB to property loan 16718 - although that has reached 79%, so if Autobid is still capped at 65% (is it?), then someone's buying it without CB
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Post by aloanatlast on Oct 25, 2015 11:09:29 GMT
1% cashback has been added to the two biggies. I don't know when. I looked for a Battle of the Bots to pinpoint the time, but there isn't one, so we must suppose that not more than one bot is programmed to buy these.
And over 70% full with 5 days to go. Looks like Autobid must have run out of steam already - if it were still good for another 10-15%, no need to be so pessimistic.
Also looks like FC have no confidence that last-day cashback would produce the required bidding frenzy.
Becky's latest post in the other place basically said that FC have the levers and they intend to pull them.
It was added on Friday, wasn't it. I thought about 16693 but then thought better of it. If they can't shift these loans without CB, then surely they'll have to add CB to property loan 16718 - although that has reached 79%, so if Autobid is still capped at 65% (is it?), then someone's buying it without CB Whereas, for the SME loans, the percentage shown includes the Government's 10%, so the manual buying seems to have been minimal.
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Post by GSV3MIaC on Oct 25, 2015 12:38:22 GMT
1% cashback has been added to the two biggies. I don't know when. I looked for a Battle of the Bots to pinpoint the time, but there isn't one, so we must suppose that not more than one bot is programmed to buy these.
If you mean these two, then at least one bot is programmed to keep an audit trail. 8>. 23/Oct 16:06:23 16693.A 60 FR Cashback Changed from 0.0% to 1.0% 23/Oct 16:06:23 16694.A+ 60 FR Cashback Changed from 0.0% to 1.0% (timings good to no better than 5 minutes though) p.s. unless Foundsome Customers have got a lot more autobodge users with much deeper pockets than I think they have, there is no way they are going to fill 65% of those £250k loans that way, not even after picking the incoming pennies off the floor for a week or two.
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Post by aloanatlast on Oct 28, 2015 7:15:50 GMT
So what's the recipe today Jim? Cashback, or "we are the lenders now"?
Or perhaps 16662 will be the first PL reject offered to the WL market. They could offer it to the same lender whose 3-month-old B loan at 10.3% is about to be paid off by it.
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min
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Post by min on Oct 28, 2015 7:52:49 GMT
So what's the recipe today Jim? Cashback, or "we are the lenders now"?
Or perhaps 16662 will be the first PL reject offered to the WL market. They could offer it to the same lender whose 3-month-old B loan at 10.3% is about to be paid off by it.
Interesting one. Borrower provided minimum information and only answered one question. That was about the effects of the situation in Calais. They said no effect as they mainly stick to UK. Amazed that follow up question was not, "then why is company called Euro****?"
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arbster
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Post by arbster on Oct 28, 2015 7:52:42 GMT
The way I see it, they have a few choices with 16662: - Chuck 2-3% cashback on it and make it go away.
- Plunk £20k+ of their own money into it, and follow through on their "threat" to offload the junk at par on the SM, probably over Christmas when loan flow is poorer.
- Let it fail and send it over to the WL, with the potential that it'll be rejected by them too. I wonder what happens in that situation, given that they've presumably already taken fees from the borrower to get this far.
- Realise their credit assessment was based upon information that they've not shared with active investors, and find a way to share enough of that "secret" information to convince us all that "A" really is the correct rating for a company that has a 1:8 ratio of current assets to liabilities and believes that "We need the loan to purchase new equipment." will be enough to convince people to invest their hard-earned cash.
- Admit their credit assessment was wrong, or recognise that sometimes there will need to be a premium attached to companies that just look "ugly" on paper, and stick it back up to B or C.
I think 1 is probably the least painful, but 2 would be a real signal of intent.
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blender
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Post by blender on Oct 28, 2015 9:16:22 GMT
This is only a top up after three months and the existing loan makes things complicated. Maybe they will send it to the WL market just to prove it can happen. Maybe they will fund it themselves.
If this loan request fails, will the existing B loan be upgraded to A? Or even A+ because the repayments will be less without the top up at A. On this loan it is a real shame that we cannot see more recent figures.
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Post by aloanatlast on Oct 28, 2015 12:58:58 GMT
And they're going to fill it. 4 hours warning this time.
WL investor gets early pay-off after 3 months when FC funds new loan at lower rate.
Whoever's turn it is to be FC Finance will need to achieve about 25 bids a minute for half an hour.
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