sl75
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Post by sl75 on Jan 25, 2016 17:48:22 GMT
Where did those spring from?
Supposedly drew down a few months ago, but unless I'm getting forgetful as I get older, I'd swear I've not seen them on the list before today...?
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Post by phlitb on Jan 25, 2016 18:14:26 GMT
Where did those spring from? Supposedly drew down a few months ago, but unless I'm getting forgetful as I get older, I'd swear I've not seen them on the list before today...? Don't remember ever seeing these before either. I guess they're not intended for the likes of us, my hastily created buy targets are being ignored
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Post by phlitb on Jan 25, 2016 18:18:58 GMT
I spoke too soon, just been allocated a chunk of #207
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mikes1531
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Post by mikes1531 on Jan 25, 2016 18:24:24 GMT
Where did those spring from? Supposedly drew down a few months ago, but unless I'm getting forgetful as I get older, I'd swear I've not seen them on the list before today...? Don't remember ever seeing these before either. I guess they're not intended for the likes of us, my hastily created buy targets are being ignored These two loans struck me as new as well. And my buying target for #207 hasn't been acted upon either. I'll guess that these either went straight to the GBBA/QAA, or perhaps to AC's institutional investors, when they drew down. Now that the tap on the pipeline has been opened, investors -- and that could include AC's GEIA/GBBA/QAA -- are releasing parts to the SM to free up investment capacity for use with the new loans expected to draw down this week. I've certainly seen a noticeable increase in buying activity in my MLIA as various loan parts are being offered for sale at a frequency much greater than of late.
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mikes1531
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Post by mikes1531 on Jan 25, 2016 18:30:27 GMT
I spoke too soon, just been allocated a chunk of #207 As have I. When I first noticed #207, there was about £15k available. That's now down to about £7k. I expect it will be gone very shortly. I'm going to have to join the sellers if I want to have enough money available for this week's new loans -- and particularly so if more of the other 'January' drawdowns have their underwriting called. This is most encouraging, AC! 
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oldgrumpy
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Post by oldgrumpy on Jan 25, 2016 19:03:54 GMT
Bit of a jolt, that. With no warning, I suddenly found I had bought various stuff and run the readies down, then noticed #207 and had to sell up a bit more. Hmmm! Did just get a small bit of 207 before it disappeared.
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ianb
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Post by ianb on Jan 25, 2016 19:36:23 GMT
Yes, very nice day AC-wise. Shrapnelator worked overtime and i got some stuff on loans i hadnt got shrapnel for for months, and then came across 207 by chance and snapped up what i could by selling out of a couple of loans and using up all my cash. System is really slow though, taking 30 minutes to action a buy or sell order. Hope thats not a sign of things to come. Hope that surprise loans are. I rang AC and asked Dom about 207 and he didnt know anything of it though the lack of any Q&A showed it must have come from one of the institutional investors.
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Post by crabbyoldgit on Jan 26, 2016 7:21:03 GMT
I missed 207 completely not home and at first was disappointed but on reflection maybe not so.If this came from an institution,why.OK it could be to free funds for other loans being offered but if there was a wiff of trouble how convenient it would it be to have a ready market to bounce the loan to with no warning or time for the new investors to get a chance to properly investigate.No q and a history or much else,I think i will keep away from these type of offerings the banks are not our friend's and not renownned for ethical behaviour.
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Post by chris on Jan 26, 2016 7:27:58 GMT
System is really slow though, taking 30 minutes to action a buy or sell order. Hope thats not a sign of things to come. The system works by going through an checking each loan in turn to see if there are any buyers or sellers. Whilst it's event driven (e.g. if you add a sell order then it adds that loan to the list of loans to be checked next) when there is a lot of activity it can take a while to cycle through each loan in turn. There's plenty of scope to optimise it though, from making it smarter as to when a loan is checked (if it knows there aren't any sellers and a buyer comes along then there's no point checking for matches, but currently it does) to scaling the system across multiple cpus and / or servers (e.g. server 1 handles odd numbered loans, server 2 handles even numbered ones). So I'll keep an eye on it and will speed it up as necessary.
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Post by chris on Jan 26, 2016 7:32:04 GMT
I missed 207 completely not home and at first was disappointed but on reflection maybe not so.If this came from an institution,why.OK it could be to free funds for other loans being offered but if there was a wiff of trouble how convenient it would it be to have a ready market to bounce the loan to with no warning or time for the new investors to get a chance to properly investigate.No q and a history or much else,I think i will keep away from these type of offerings the banks are not our friend's and not renownned for ethical behaviour. They weren't funded by institutions and then dumped they were held by the QAA for a bit. I don't know the backstory though so for example they could have been intended for an institution that didn't get its act together and fund them in time for draw down so they were parked in the QAA to help us grow the account whilst we worked out what to do with them. But that's just me speculating.
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sl75
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Post by sl75 on Jan 26, 2016 8:07:18 GMT
On one level I have no complaint - I saw the loan in time to set a target, and have funds released from other sales in time to hit that target before it sold out...
However, I'd really rather avoid this kind of "fastest-finger-first" scenario where a loan is released to the marketplace with zero warning, and whoever happens to be online at the time with their account funded gets a slice.
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SteveT
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Post by SteveT on Jan 26, 2016 8:16:34 GMT
Presumably the system is currently set only to display a new loan once any units first become available for MLIA purchase. The problem would be solved if instead it displayed new loans as soon as they go live for "retail lender" purchase, even if the entire loan is allocated to the QAA or GBBA initially.
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Post by chris on Jan 26, 2016 8:56:11 GMT
On one level I have no complaint - I saw the loan in time to set a target, and have funds released from other sales in time to hit that target before it sold out... However, I'd really rather avoid this kind of "fastest-finger-first" scenario where a loan is released to the marketplace with zero warning, and whoever happens to be online at the time with their account funded gets a slice. It's not our usual approach.
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sl75
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Post by sl75 on Jan 26, 2016 9:35:22 GMT
On one level I have no complaint - I saw the loan in time to set a target, and have funds released from other sales in time to hit that target before it sold out... However, I'd really rather avoid this kind of "fastest-finger-first" scenario where a loan is released to the marketplace with zero warning, and whoever happens to be online at the time with their account funded gets a slice. It's not our usual approach. In this instance, was it really so urgent for the QAA to liquidate its holdings in those specific loans that (say) 24 hours notice to allow lenders to review the loan and set buying targets could not have been given? Edit: did some unforeseen event take AC by surprise so that they couldn't have made them visible a day or two beforehand?
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Post by chris on Jan 26, 2016 9:36:50 GMT
It's not our usual approach. In this instance, was it really so urgent for the QAA to liquidate its holdings in those specific loans that (say) 24 hours notice to allow lenders to review the loan and set buying targets could not have been given? I wasn't involved enough in this instance to know, but the answer is probably not. I'll speak internally about putting in place a procedure for managing this in future to give lenders appropriate notice. Edit: Just saw your edit. Nothing has been mentioned at board level about any event and I would have expected to be informed if there were something major. Investment in the QAA is rising not falling. It's probably in anticipation of the draw downs later this week and someone has been a bit too eager with hitting the sell button.
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