min
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Post by min on Oct 27, 2015 17:08:44 GMT
Whatever the current operation I am sure that it has been altered by Fiddling Coders since the beginning of FC time. Tweaked maybe but not fundamentally changed I don't think. They may have tried to make fundamental changes but given their track record it's probably broken it and they have gone back to the original. After all afaik only major change has been to lower the min % from 1% to 0.25%. Lots of people have asked for an amount per loan i.e. £20 but they don't seem capable of implementing that.
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Post by davee39 on Oct 27, 2015 17:19:28 GMT
It seems fairly clear that manual bidders do not want the A+ & A loans. Now I am no longer able to manually compete for a good rate I have been happy to use this at 0.25, purchasing one part in some B & C loans (Primary market only, the secondary has been set at the max rate for all grades. The Bots seem to soak up all the D & E while autobid slumbers. I suspect more loans will appear once those outstanding have been shifted.
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acky
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Post by acky on Oct 27, 2015 19:15:56 GMT
Does anybody know what the average Autobid is? If it's say £40, they'll need 5,000 lenders to take £200K, or 8,000 to take £320K. Has anybody ever seen that many lenders?
And the least-filled preference means it'll struggle to fill the last few %, especially in Thursday and Friday loans. I've now analysed bids on 16718 (£325k property loan with no CB). There were two sustained periods of Autobid activity, which is very obvious from the bid patterns. I won't have got them all right, of course, but I'm confident that I've pinpointed the considerable majority of Autobids, accounting for almost 65% of the loan. This suggests 2,515 Autobids, of which 1,291 were for £20 and 386 for £40, average Autobid £81 due to the effect of many big ones.
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Post by GSV3MIaC on Oct 27, 2015 20:11:28 GMT
I surprised it managed to raise that much, but I believe your analysis. I guess the fact it was sat there over the weekend (with little else to accept the money, apart from the SM) probably helped .. as would any major repayments coming in. I guess my 'maybe it can find £100-120k' number is somewhat out of date, and now it can find well over £200k (as long as it isn't asked to tackle to many at once). Scary. 8>. Especially when you consider all those property loans which are not even returning capital until the last payment.
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registerme
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Post by registerme on Oct 27, 2015 23:18:53 GMT
Is autobid anything more complicated than a fairly simple batch process? Its execution time may vary, but that may in itself be the result of other batch processes.......
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adrianc
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Post by adrianc on Oct 28, 2015 8:10:26 GMT
batch or botch?
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Post by aloanatlast on Oct 29, 2015 11:49:42 GMT
16686, after being stuck at around 85% for several days, was filled by £7,500 in single bids between 10:15 and 10:45 this morning.
From which we learn that the least-filled preference has gone. It looks like they can now direct a squirt of funds wherever they like at will. It also looks like they may be turning it off to build up a head of steam.
Selling to Autobid on the SM may just have got a whole lot harder.
Looks like I'm now reluctantly in winding-down mode - buying decisions are impossible with FC taking this active a role in the markets.
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arbster
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Post by arbster on Oct 29, 2015 12:04:13 GMT
I'm not sure if they directed it at that loan specifically - there was a maintenance period last night which may well have been them deploying the change to allow "auctions" that have been around for a few days to be exempt from the 65% limit, and it might only have been turned on this morning.
Clearly we'll just have to surmise how it works, but I'd expect it to favour the "oldest" auctions when funds become available after daily payment runs.
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Post by aloanatlast on Oct 29, 2015 12:33:31 GMT
It was buying 16841 earlier, though not as quickly.
Clearly there were a lot of people who hadn't yet got a piece of 16686, it being a smallish one. But I don't get why they all had more money to play with than Autobid could spend earlier even on the SM.
And I don't get why we should have to guess how it works.
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ablender
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Post by ablender on Oct 29, 2015 12:36:56 GMT
16686, after being stuck at around 85% for several days, was filled by £7,500 in single bids between 10:15 and 10:45 this morning.
From which we learn that the least-filled preference has gone. It looks like they can now direct a squirt of funds wherever they like at will. It also looks like they may be turning it off to build up a head of steam.
Selling to Autobid on the SM may just have got a whole lot harder.
Looks like I'm now reluctantly in winding-down mode - buying decisions are impossible with FC taking this active a role in the markets.
I do not call this an "active a role in the markets". I call it meddling. It should not happen.
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Post by GSV3MIaC on Oct 29, 2015 12:44:39 GMT
Or at least the transparency should be a bit less opaque as to what it is going to do and when...
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Post by aloanatlast on Oct 30, 2015 6:05:30 GMT
I was thinking arbster was right about oldest-first. But then, the current oldest has had very little attention overnight. The overnight money has gone to level up six of yesterday's newbies to 42%.
Current theory is that it does least-filled first as usual until they're all up to the 50% cap, and then switches to oldest-first and goes up to 100%.
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arbster
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Post by arbster on Oct 30, 2015 9:13:22 GMT
I was thinking arbster was right about oldest-first. But then, the current oldest has had very little attention overnight. The overnight money has gone to level up six of yesterday's newbies to 42%.
Current theory is that it does least-filled first as usual until they're all up to the 50% cap, and then switches to oldest-first and goes up to 100%. There are still 3 days left on the oldest loans - maybe it only kicks in later in the process, depending on how large the shortfall is. Given that they appear to have been able to change it without breaking it, there's a strong chance it's starting to include more intelligence, as the current IT team better understands what it's working with, rather than trying to tweak something someone else wrote.
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Post by GSV3MIaC on Oct 30, 2015 11:40:37 GMT
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Post by aloanatlast on Oct 30, 2015 11:55:22 GMT
Presumably if they've thunk out half a policy and announced it, this means they expect to be buying more.
So is that the end of cashback?
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