oldgrumpy
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Post by oldgrumpy on Feb 29, 2016 12:26:41 GMT
That should've been launched the 19th Feb
I think that was just a bit of AC-esque excitability on the part of SS! 
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sl75
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Post by sl75 on Feb 29, 2016 12:46:39 GMT
And there is some merit offering an incentive for underwriters who are willing to take it, lots of it, if nobody wants it, or leave it for others if there is a lot of demand. Where it breaks down at FC, and AC and a few other places is that the underwriters are collecting their 'cream' even when there is quite enough demand from elsewhere to satisfy the requirement. The original FC model where we'd start with 'I'll take £20k of that at 14% if nobody wants it' and let all the live people chip away with their 12.9% and 13.5% bids [1] was fine. The current system where FC decides "it is 8.3%, anyone want it at that? .. if not autobiddies will fill it for us" is exactly bass-ackwards, IMO. [1] so that then you can sweep back in with your £20k at 12.5% in the last few seconds, confident that the "chip-away" people won't be able to get back in before the close. The result of the "pricing to liquidity" model seemed to me to suit game-players of various types quite well, but possibly not so much the serious investors who'd expect to decide whether to invest or not based on terms on the table, rather than a constantly shifting target. Obviously those who don't want an 8.3% gross yield on those loans will go elsewhere, but even for them, that seems a better option than teasing them with the possibility of 10%, 12% or 14% rates, only to have them tie up funds that are outbid by those satisfied with 8%.
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ianj
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Post by ianj on Feb 29, 2016 13:43:47 GMT
Sorry, I'm bored...lost the will to live!  |
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Post by GSV3MIaC on Feb 29, 2016 16:10:03 GMT
And there is some merit offering an incentive for underwriters who are willing to take it, lots of it, if nobody wants it, or leave it for others if there is a lot of demand. Where it breaks down at FC, and AC and a few other places is that the underwriters are collecting their 'cream' even when there is quite enough demand from elsewhere to satisfy the requirement. The original FC model where we'd start with 'I'll take £20k of that at 14% if nobody wants it' and let all the live people chip away with their 12.9% and 13.5% bids [1] was fine. The current system where FC decides "it is 8.3%, anyone want it at that? .. if not autobiddies will fill it for us" is exactly bass-ackwards, IMO. [1] so that then you can sweep back in with your £20k at 12.5% in the last few seconds, confident that the "chip-away" people won't be able to get back in before the close. Not I, although I agree there were some as would/did. How much of something I am willing to take is determined by the price though, which is why cash back, or higher rates, has an effect. FC's (and ZOPA's) 'take it or leave it rate' is usually low enough to cause me to leave it, thanks all the same. 12% at SS .. well I'll take most of them (toxic landfill sites excepted). Would I take toxic landfill with CB and / or higher rate? Well, at some point, yes.
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Post by ladywhitenap on Mar 1, 2016 10:18:55 GMT
Dare we bring this back on topic please!
SS hinted in the update of several loans this week. If we are to remain to have two days notice (and do please stick to this) then that means no new activity until at least Thursday.
Can we have realistic updates from now on.
Thanks
LW
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Post by spareafewcoppersguv on Mar 1, 2016 10:29:39 GMT
Dare we bring this back on topic please!SS hinted in the update of several loans this week. If we are to remain to have two days notice (and do please stick to this) then that means no new activity until at least Thursday. Can we have realistic updates from now on. Thanks LW They have already replied somewhere a few days ago that they can't promise to give 48 hours notice and the reasons. If you search for SS recent posts you should find it...
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Post by ladywhitenap on Mar 1, 2016 10:41:12 GMT
Ok Thanks SAFCG,
My main thrust was "What is the plan for this week?"
As it was looking quite positive, I had scraped a few shekels out of deep hiding in readiness and in this case involved closing another account but I wonder if I needed to yet.
LW
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Post by spareafewcoppersguv on Mar 1, 2016 11:43:05 GMT
Ok Thanks SAFCG, My main thrust was "What is the plan for this week?" As it was looking quite positive, I had scraped a few shekels out of deep hiding in readiness and in this case involved closing another account but I wonder if I needed to yet. LW Well, there should be plenty of morsels on the SM for you to keep those few shekels earing interest just now... 
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jcb208
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Post by jcb208 on Mar 2, 2016 13:07:42 GMT
Anyone want to take a guess when and what loan will be released on to the market next
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 2, 2016 13:12:22 GMT
Anyone want to take a guess when and what loan will be released on to the market next The Exeter loan is at stage 3, so should be next. Whether or not there are enough funds on SS to cover that loan is another question entirely, and I'm not sure the pre-funding allocation is a good gauge for SS. With PF gaming SS could get their hands burned if they go live and then 100s of thousands of pounds is dumped back on t the SM. Interesting times it would seem......
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ben
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Post by ben on Mar 2, 2016 13:20:19 GMT
Anyone want to take a guess when and what loan will be released on to the market next The Exeter loan is at stage 3, so should be next. Whether or not there are enough funds on SS to cover that loan is another question entirely, and I'm not sure the pre-funding allocation is a good gauge for SS. With PF gaming SS could get their hands burned if they go live and then 100s of thousands of pounds is dumped back on t the SM. Interesting times it would seem...... PBL50 will repay to become that so £800,000 there if everyone stays in, although no documents for it yet
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Post by GSV3MIaC on Mar 2, 2016 15:14:56 GMT
a) It's a DFL, so presumably the cash gets released in tranches as development progresses (although it'll need £800k up front to pay off Lendy). No details yet, so guessing ..
b) It doesn't have any documents or a DFL number yet, despite being at stage 3.
So I don't think it is very scary compared to Hudderfield, Hull, the other Exeter Loan or Liverpool .. some of which may required SS to shake the BH tree a bit harder (although none of them claim to be at Stage 3 yet, fwiw).
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 2, 2016 15:24:52 GMT
a) It's a DFL, so presumably the cash gets released in tranches as development progresses (although it'll need £800k up front to pay off Lendy). No details yet, so guessing .. b) It doesn't have any documents or a DFL number yet, despite being at stage 3. So I don't think it is very scary compared to Hudderfield, Hull, the other Exeter Loan or Liverpool .. some of which may required SS to shake the BH tree a bit harder (although none of them claim to be at Stage 3 yet, fwiw).I Agreed. However, I think you can remove Hull from your list of scary upcoming loans. It seems to me that SS only keep Hull on the pre-fund list for nostalgic purposes 
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mikes1531
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Post by mikes1531 on Mar 2, 2016 20:01:57 GMT
Anyone want to take a guess when and what loan will be released on to the market next What about the two Watford loans? I don't remember exactly, but it seems like it's been a while since SS suggested those would be the next to go live, even suggesting at the time that it would be "next week". Those are PBLs, so all of their funding should be required at drawdown, and at this moment ISTM that £8M could be a bit much for SS investors to fund in one go. I wonder what the pre-funding on those look like? I certainly wouldn't expect there to be significant over-funding.
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