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Post by GSV3MIaC on Dec 5, 2015 16:31:28 GMT
Certainly has been the last couple of years, yes.
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am
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Post by am on Dec 5, 2015 18:02:05 GMT
What I'm wondering is when, exactly, over the Xmas / newyear holiday it will go down BELOW 1 .. zero biddable loans. Last year it got down to a handful, slowly grinding down towards MBR, but that won't be the case this year, they'll be filled at the fixed rate and gone. Unless Father Christmas pops down the chimney with the odd loan or two every day, it's going to look a bit bleak to any new chums taking a look (almost as bleak as Savings Trickle?!). Place your bets... Or maybe there'll be some £600k property tranches just for window dressing? What I'm worrying about is the money maturing on RS's monthly market on the 24th. Do I accept 1.5%, or do I leave the money idle for potentially two weeks? I guess I have to hope for an early repayment in the next couple of weeks.
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oldgrumpy
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Post by oldgrumpy on Dec 5, 2015 18:12:52 GMT
A good time to offload stuff on the SM? I will be, and most of the real dross has already gone presumably not to anybody familiar with this forum!
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Post by GSV3MIaC on Dec 5, 2015 18:15:31 GMT
Why do either? - set it to re-invest at whatever 'your rate' seems good to you.
Remember monthly market RS money is required every single day to finance 'rolled over' loans, none of which are actually monthly loans (so the fact there is nobody approving them on 25th Dec should have very little impact - the cash will still be needed).
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Post by ratrace on Dec 5, 2015 19:56:46 GMT
A good time to offload stuff on the SM? As someone who is a bit of a SM specialist, this is music to my ears.
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registerme
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Post by registerme on Dec 5, 2015 20:21:25 GMT
A good time to offload stuff on the SM? As someone who is a bit of a SM specialist, this is music to my ears. And that's why we're both here. I use the SM to offload risk, and you use it to take it .
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Post by ratrace on Dec 5, 2015 20:41:07 GMT
As someone who is a bit of a SM specialist, this is music to my ears. And that's why we're both here. I use the SM to offload risk, and you use it to take it . When lenders are looking to off load their loans onto the SM, then quite often that risk gets mis-priced. Because the reasons for selling the loan parts is often personal, rather then having any thing to do with the company. This is what gives me opportunity on the SM, as they tend to sell out cheaply.
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registerme
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Post by registerme on Dec 5, 2015 22:15:18 GMT
No argument. But be aware that your observation about people selling, in the general case, applies equally to those who buy.
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Post by ratrace on Dec 5, 2015 23:04:04 GMT
No argument. But be aware that your observation about people selling, in the general case, applies equally to those who buy. Yes as a buyer you need to be able to understand the risks and only buy when the price is right. Leading on FC needs to be treated as seriously as investing on the stock market.
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jayjay
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Post by jayjay on Dec 9, 2015 12:15:56 GMT
Byfleet 4 at 1% CB looks like the candidate for the only turkey in the shop come Monday morning
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acky
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Post by acky on Dec 9, 2015 15:29:24 GMT
Byfleet 4 at 1% CB looks like the candidate for the only turkey in the shop come Monday morning Does FC really think they'll get this away at 1% CB? Well, 2% sold in 4 hours is not a great start. With £1.35m already taken, surely mostly by Autobodge, I would not have though there was a lot more that Autobiddies will be able to put in, and discerning investors are going to want a rather bigger incentive.
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blender
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Post by blender on Dec 9, 2015 15:59:07 GMT
According to Final Chance's stated procedures any loan which does not fill on the partial board will be offered as a whole loan - and this now applies to property. So, if it becomes the unwanted last turkey in the shop they can increase the CB, or buy the rest through FCPF, or let it fail and offer it up to the whole loan buyer. Feeling Canny will know that the WL buyer does not have a West Byfleet in his collection, but if he/she rejects it Failed Chunk would have to buy the whole loan - or declare a technical error of course and start again. Could we see a PL reject?
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min
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Post by min on Dec 9, 2015 16:04:31 GMT
According to Final Chance's stated procedures any loan which does not fill on the partial board will be offered as a whole loan - and this now applies to property. So, if it becomes the unwanted last turkey in the shop they can increase the CB, or buy the rest through FCPF, or let it fail and offer it up to the whole loan buyer. Feeling Canny will know that the WL buyer does not have a West Byfleet in his collection, but if he/she rejects it Failed Chunk would have to buy the whole loan - or declare a technical error of course and start again. Could we see a PL reject? I suspect they'll see how it goes. If still struggling CB will go to 2% on Friday pm. If it's still struggling on Monday then we might see a 3%. If that doesn't fill it then I suspect Failing Cashback Property Fund will pick up the rest and throw it to the SM.
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metoo
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Post by metoo on Dec 9, 2015 22:08:04 GMT
According to Final Chance's stated procedures any loan which does not fill on the partial board will be offered as a whole loan - and this now applies to property. So, if it becomes the unwanted last turkey in the shop they can increase the CB, or buy the rest through FCPF, or let it fail and offer it up to the whole loan buyer. Feeling Canny will know that the WL buyer does not have a West Byfleet in his collection, but if he/she rejects it Failed Chunk would have to buy the whole loan - or declare a technical error of course and start again. Could we see a PL reject? The WL lender on these property loans is the Irish-registered company referred to on pages 116, 167 and 176 of the Funding Circle SME Income Fund Limited prospectus available from www.fcsmeif.com. "The Company has no ability to independently determine the creditworthiness of a potential borrower or discretion to reject a Credit Asset randomly allocated to it (if it is within the scope of the Investment Policy and any Portfolio Limits, and there is sufficient Available Cash)." [prospectus] So it couldn't be rejected by this WL buyer... However, it only receives randomly allocated loans, so wouldn't take PL rejects. Phew.
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registerme
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Post by registerme on Dec 9, 2015 22:48:50 GMT
"The Company has no ability to independently determine the creditworthiness of a potential borrower or discretion to reject a Credit Asset randomly allocated to it (if it is within the scope of the Investment Policy and any Portfolio Limits, and there is sufficient Available Cash)." [prospectus] Now that's what I call adding value. Not.
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