fasty
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Post by fasty on Dec 29, 2015 11:51:59 GMT
Well I sold 3 property parts at par overnight which is a record low since I started trading in these parts a few months ago... I have sold none so far today, but I did sell 2 late last night. As was mentioned yesterday by min, most repayments failed for 28th. As Feeling Charitable give their staff time off over Xmas, no-one is around to process the direct debits which have no doubt been paid (a few days in advance) in respect of repayments due on 28th and 29th, hence the only money "coming in" would be from property loans where the interest is withheld at drawdown. I assume that the payment processing is mostly automatic. The banner message states that DD payments are submitted 5 days earlier, so for the 28th that is the 23rd. I understand that these take 2 working days for the banks to process so the money should be arriving at FC's bank today. If my assumption about automatic processing is correct the payments for the 28th should mostly be fixed tonight, even without any manual intervention. As an aside do you assume that there will be no new loans this week? No, I see a new loan request this very morning! ... "C" risk band, filled in half an hour.
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adrianc
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Post by adrianc on Dec 29, 2015 14:06:05 GMT
No, I see a new loan request this very morning! ... "C" risk band, filled in half an hour. Any bets on WL reject?
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Post by GSV3MIaC on Dec 29, 2015 14:54:59 GMT
It wasn't afaict, nor were any of the others today - I assume they flushed the WL rejects to the PL market before going on holiday.
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metoo
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Post by metoo on Dec 29, 2015 15:08:22 GMT
I took the banner to mean payments falling on 25th Dec onwards would be delayed by 1 working day per intervening Bank Hol until after the holiday effect has completely worked through. The delay would arise where each Bank Holiday falls anywhere in the 5 calendar day period from request date to loan payment due date. As there are weekends in with the Bank Hols, any slack in the 5 calendar days normally allowed to cope with weekends won't reduce the payment delay. Actual experience may vary!
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acky
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Post by acky on Dec 29, 2015 15:11:24 GMT
I took the banner to mean payments falling on 25th Dec onwards would be delayed by 1 working day per intervening Bank Hol until after the holiday effect has completely worked through. The delay would arise where each Bank Holiday falls anywhere in the 5 calendar day period from request date to loan payment due date. As there are weekends in with the Bank Hols, any slack in the 5 calendar days normally allowed to cope with weekends won't reduce the payment delay. Actual experience may vary! .... and with (un) Foreseeable Calendars, other interpretations are available!
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bigfoot12
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Post by bigfoot12 on Dec 29, 2015 17:52:20 GMT
Still no sign of any autobid sales, but loan parts at a premium are flying out of the door. Just become my highest selling day, with a few hours to spare.
EDIT On reflection I have reduced my premium on most loan parts over the last few days. Probably not fair to make a comparison.
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acky
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Post by acky on Dec 29, 2015 18:30:13 GMT
Still no sign of any autobid sales, but loan parts at a premium are flying out of the door. Just become my highest selling day, with a few hours to spare. EDIT On reflection I have reduced my premium on most loan parts over the last few days. Probably not fair to make a comparison. I beg to differ on Autobid; I think it's been quite active during the day today. I've sold quite a lot of property parts at par and they all look like Autobid rather than manual buyers.
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ablender
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Post by ablender on Dec 29, 2015 18:39:55 GMT
Still no sign of any autobid sales, but loan parts at a premium are flying out of the door. Just become my highest selling day, with a few hours to spare. EDIT On reflection I have reduced my premium on most loan parts over the last few days. Probably not fair to make a comparison. I beg to differ on Autobid; I think it's been quite active during the day today. I've sold quite a lot of property parts at par and they all look like Autobid rather than manual buyers. Are you still talking about the usual Formidable Catastrophe or a new platform called Fantastic Claims? I am not selling on the SM and I have parts ranging down to -0.5% discount.
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acky
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Post by acky on Dec 29, 2015 18:47:33 GMT
I beg to differ on Autobid; I think it's been quite active during the day today. I've sold quite a lot of property parts at par and they all look like Autobid rather than manual buyers. Are you still talking about the usual Formidable Catastrophe or a new platform called Fantastic Claims? I am not selling on the SM and I have parts ranging down to -0.5% discount. Perhaps you didn't leave any mince pies and a glass of Bristol Cream out for Father Christmas!
But if you'd like to double those discounts, I might buy some.
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SteveT
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Post by SteveT on Dec 29, 2015 19:00:12 GMT
I beg to differ on Autobid; I think it's been quite active during the day today. I've sold quite a lot of property parts at par and they all look like Autobid rather than manual buyers. Are you still talking about the usual Formidable Catastrophe or a new platform called Fantastic Claims? I am not selling on the SM and I have parts ranging down to -0.5% discount. Have you checked what buyer rates others are selling at in the same loans? If your parts aren't selling this week (of all weeks) then I'd say you're likely not priced at / very close to "best available".
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ablender
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Post by ablender on Dec 29, 2015 19:01:17 GMT
Are you still talking about the usual Formidable Catastrophe or a new platform called Fantastic Claims? I am not selling on the SM and I have parts ranging down to -0.5% discount. Perhaps you didn't leave any mince pies and a glass of Bristol Cream out for Father Christmas!
But if you'd like to double those discounts, I might buy some.
I just did on some, so go ahead. The way I see it is that FC is heading toward -20%. This was their plan from the start. They offer loans at reduced rates (for borrowers) and the only way to attract investors is by having bigger (fatter) rates generated by SM. What is the best way to do this? Throttle the Autobid. I am not a celebrity but I think I have to say "I'm out of here".
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jamesc
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Post by jamesc on Dec 29, 2015 20:13:50 GMT
I have to agree with Acky and BIgfoot had my best day by far selling almost 10% of my portfolio but almost exclusively to manual buyers
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ablender
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Post by ablender on Dec 29, 2015 20:42:31 GMT
Are you still talking about the usual Formidable Catastrophe or a new platform called Fantastic Claims? I am not selling on the SM and I have parts ranging down to -0.5% discount. Have you checked what buyer rates others are selling at in the same loans? If your parts aren't selling this week (of all weeks) then I'd say you're likely not priced at / very close to "best available". Will not this start a spiral down? I thought that if I put them at a discount they should be picked up by autobid. People have said, and I had experience of autobid being indifferent to the amount of discount. I had -0.1% selling before -0.5% on the same loan in the past. I do not know if this is still the case.
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SteveT
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Post by SteveT on Dec 29, 2015 20:51:28 GMT
Have you checked what buyer rates others are selling at in the same loans? If your parts aren't selling this week (of all weeks) then I'd say you're likely not priced at / very close to "best available". Will not this start a spiral down? I thought that if I put them at a discount they should be picked up by autobid. People have said, and I had experience of autobid being indifferent to the amount of discount. I had -0.1% selling before -0.5% on the same loan in the past. I do not know if this is still the case. Autobid is barely buying anything this week, whereas manual bidders are hungry for anything that looks like decent value. But manual bidders only buy at "best available".
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ablender
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Post by ablender on Dec 29, 2015 20:54:53 GMT
Will not this start a spiral down? I thought that if I put them at a discount they should be picked up by autobid. People have said, and I had experience of autobid being indifferent to the amount of discount. I had -0.1% selling before -0.5% on the same loan in the past. I do not know if this is still the case. Autobid is barely buying anything this week, whereas manual bidders are hungry for anything that looks like decent value. But manual bidders only buy at "best available". OK, I think I've got it. I did some adjustments. Thanks.
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