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Post by ladywhitenap on Dec 11, 2015 12:50:54 GMT
After a little flurry of activity including PBL072 which launched and surprised most of us, there appears very little new opportunities nearing readiness.
We only have one with any documents to view and they have been there for at least a week and possibly longer whilst at least four other loans have launched and filled.
Presumably we have another week or so before the SS Christmas party after which the holiday shutdown will be upon us and no movement till next year.
Pass the humbugs round!
LW
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Post by savingstream on Dec 11, 2015 14:57:54 GMT
After a little flurry of activity including PBL072 which launched and surprised most of us, there appears very little new opportunities nearing readiness. We only have one with any documents to view and they have been there for at least a week and possibly longer whilst at least four other loans have launched and filled. Presumably we have another week or so before the SS Christmas party after which the holiday shutdown will be upon us and no movement till next year. Pass the humbugs round! LW We will send an update out on Monday but the lawyers down tools on Friday. We are hoping to have Bridge Farm, Priory Bay Hotel and Essex away by then. Probably go into the new year though at this rate.
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Post by chrisuk on Dec 11, 2015 15:01:32 GMT
Personally, I would rather SavingStream take their time and ensure we get 'good loans'. I've been hit with too many 'bad loans' with Funding Circle.
Chris
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Post by ladywhitenap on Dec 11, 2015 15:25:40 GMT
After a little flurry of activity including PBL072 which launched and surprised most of us, there appears very little new opportunities nearing readiness. We only have one with any documents to view and they have been there for at least a week and possibly longer whilst at least four other loans have launched and filled. Presumably we have another week or so before the SS Christmas party after which the holiday shutdown will be upon us and no movement till next year. Pass the humbugs round! LW We will send an update out on Monday but the lawyers down tools on Friday. We are hoping to have Bridge Farm, Priory Bay Hotel and Essex away by then. Probably go into the new year though at this rate. Thanks SS , This is just the sort of heads-up that I appreciate and would like to see in your regular updates. eg your current aspirations for the near future and tinged with reality/slight scepticism based on the constraints that surround you. LW
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Post by ladywhitenap on Dec 11, 2015 15:29:53 GMT
Personally, I would rather SavingStream take their time and ensure we get 'good loans'. I've been hit with too many 'bad loans' with Funding Circle. Chris CHris, I 100% agree with your sentiment. I was not trying to push for loans to be rushed through just and idea of what might be happening. I don't know where you keep your cash destined for SS loans but mine is on deposit and I can't always get to it in the requisite 24hours so I need to take a view of how much to get out of cold storage to thaw for the week ahead. If the answer is "none" or very little then at least I have a plan to work to. LW
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gt94sss2
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Post by gt94sss2 on Dec 11, 2015 20:13:09 GMT
I don't know where you keep your cash destined for SS loans but mine is on deposit and I can't always get to it in the requisite 24hours so I need to take a view of how much to get out of cold storage to thaw for the week ahead. I also don't know where you keep your funds on deposit - but SS allow at least 48 hours for investors to fund their accounts (in practice, I think its even longer given the delays in reconciling funds) - and with faster payments its much easier to shuffle funds within 48/72 hours than ever before. Certainly, if Essex gets launched I expect that all pre-funding bids would be met in full - lets hope others realise this!
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ablender
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Post by ablender on Dec 11, 2015 20:18:25 GMT
I think anyone can keep their funds where they see fit. Mine, I hang them on the apple tree outside.
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mikes1531
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Post by mikes1531 on Dec 11, 2015 21:51:00 GMT
Certainly, if Essex gets launched I expect that all pre-funding bids would be met in full - lets hope others realise this! If anyone fails to realise the significance of the loan size, and puts in a pre-bid 10x what they really want to hold, they'll be in for a big surprise. And unlike the £2M PBL072, there won't be many people who will want to pick up parts of Essex on the SM immediately after the release. That one could be interesting!
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jonah
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Post by jonah on Dec 11, 2015 22:28:39 GMT
Certainly, if Essex gets launched I expect that all pre-funding bids would be met in full - lets hope others realise this! If anyone fails to realise the significance of the loan size, and puts in a pre-bid 10x what they really want to hold, they'll be in for a big surprise. And unlike the £2M PBL072, there won't be many people who will want to pick up parts of Essex on the SM immediately after the release. That one could be interesting! Essex and hull I expect people to get 100% of their prefunding request. I also suspect that there will be chunks on the SM from those for a few days, especially if they go live close together. My personal rule is to only bid for numbers I would be happy to hold for at least 6months and can immediately fund. Even though I don't expect the liquidity to go, at some point it will for one reason or another, so avoiding having a slice which could cause me sleepless nights is quite high on my 'sniff test' criteria.
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ablender
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Post by ablender on Dec 11, 2015 22:56:22 GMT
If anyone fails to realise the significance of the loan size, and puts in a pre-bid 10x what they really want to hold, they'll be in for a big surprise. And unlike the £2M PBL072, there won't be many people who will want to pick up parts of Essex on the SM immediately after the release. That one could be interesting! Essex and hull I expect people to get 100% of their prefunding request. I also suspect that there will be chunks on the SM from those for a few days, especially if they go live close together. My personal rule is to only bid for numbers I would be happy to hold for at least 6months and can immediately fund. Even though I don't expect the liquidity to go, at some point it will for one reason or another, so avoiding having a slice which could cause me sleepless nights is quite high on my 'sniff test' criteria. Why should these two loans, essex and hull, cause you sleepless nights? Am I about to swallow the hook?
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jonah
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Post by jonah on Dec 11, 2015 23:01:26 GMT
Not really. Whilst I 'play the PF game' I don't bid more than I am happy to have. For larger loans that's a much smaller number than bigger loans. Given the likely path for those two, I will probably prefund once their is more information but it will be for less than I did on, say 68 or 67. Not saying that they are lesser quality, merely that I don't want the mechanics of PF giving me a huge slice.
The sleeplessness reference was to loans in general, not Essex or hull specifically. Mathematically having loans with similar sizes reduces the risk for a small number of defaults exceeding the provision fund, but in practice I expect the rush to the door would be more of a threat.
I really am rambling tonight, references to physics and maths, must do that less.
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Post by wildlife2 on Dec 11, 2015 23:13:14 GMT
I think anyone can keep their funds where they see fit. Mine, I hang them on the apple tree outside. You must get plenty of windfalls then, thanks for that tip.  EDIT; I have a partridge hanging in the pear tree  , ...... the cat's saving it for xmas 
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warn
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Post by warn on Dec 12, 2015 7:39:09 GMT
I think anyone can keep their funds where they see fit. Mine, I hang them on the apple tree outside. You must get plenty of windfalls then, thanks for that tip. I think he was only talking about his core holdings.
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jonah
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Post by jonah on Dec 12, 2015 9:58:23 GMT
I would recommend a complete root and branch review of your asset allocation to be honest.
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Investor
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Post by Investor on Dec 12, 2015 10:48:29 GMT
Certainly, if Essex gets launched I expect that all pre-funding bids would be met in full - lets hope others realise this! If anyone fails to realise the significance of the loan size, and puts in a pre-bid 10x what they really want to hold, they'll be in for a big surprise. And unlike the £2M PBL072, there won't be many people who will want to pick up parts of Essex on the SM immediately after the release. That one could be interesting! Be interested to hear from savingstream on what the SM queue order is following a launch of a larger loan. If a 4m loan goes live with only 3m taken up by the pre fund, does the final 1m take precedent over any sales on the SM or do SM sales queue jump the original 1m. Am very much hoping for the former as this will be a start to stopping the gaming on the PF. Also would hope any gamers are forced to release other 'more attractive' loans they hold back onto the SM to 'clear their debt' if their SM sales of the primary loan get stuck for 48 hours (or 24 hours, depending on where you get this info from). Might be time for a wake up call for gamers and help our newer members get some diversification bonus thrown in.
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, ...... the cat's saving it for xmas 
