Investor
Member of DD Central
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Post by Investor on Feb 22, 2016 10:42:09 GMT
Let's just hope we get a follow up email from savingstream"Trading the new loan on the secondary market will be suspended for 72 hours following the launch" Would certainly make some give a little more thought in how much risk they wish to take in their pre-funding if their other investments need to be sold to make up any shortfall. |
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freddy
Member of DD Central
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Post by freddy on Feb 22, 2016 10:46:33 GMT
Let's just hope we get a follow up email from savingstream "Trading the new loan on the secondary market will be suspended for 72 hours following the launch" Would certainly make some give a little more thought in how much risk they wish to take in their pre-funding if their other investments need to be sold to make up any shortfall. That may be nice but I think unlikely. Why would they at this stage, whilst the rest of us line up to buy it on the SM.
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Post by dodgeydave on Feb 22, 2016 11:03:36 GMT
Let's just hope we get a follow up email from savingstream "Trading the new loan on the secondary market will be suspended for 72 hours following the launch" Would certainly make some give a little more thought in how much risk they wish to take in their pre-funding if their other investments need to be sold to make up any shortfall. I agree with you. It might put an end to people gaming the system
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 22, 2016 11:28:08 GMT
Let's just hope we get a follow up email from savingstream "Trading the new loan on the secondary market will be suspended for 72 hours following the launch" Would certainly make some give a little more thought in how much risk they wish to take in their pre-funding if their other investments need to be sold to make up any shortfall. I agree with you. It might put an end to people gaming the system You guys haven't thought this 72hr thing through. What are SS going to do if you don't resolve the negative; their just going to put the balance back onto the SM....
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Post by dodgeydave on Feb 22, 2016 11:37:05 GMT
I agree with you. It might put an end to people gaming the system You guys haven't thought this 72hr thing through. What are SS going to do if you don't resolve the negative; their just going to put the balance back onto the SM.... The loan part would have to be put back on the SM. And the person gaming the system made to pre fund any future bids.
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Post by dodgeydave on Feb 22, 2016 11:54:31 GMT
More important
You realise it is just a 6 month loan
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Investor
Member of DD Central
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Post by Investor on Feb 22, 2016 11:56:29 GMT
I agree with you. It might put an end to people gaming the system You guys haven't thought this 72hr thing through. What are SS going to do if you don't resolve the negative; their just going to put the balance back onto the SM.... Appreciate you are new to the forum so should probably have given some of the history rather than just the simple 72 hour quote. This has been considered in detail on some older posts. Many of the discussions were around penalising the SM sales with many versions of options including but not limited too, lowest LTV get put back on to make shortfall, longest term remaining (other than existing loan) ditto, lowest loan amount ditto, or the rather elegant but simple yellow/red card scenario.
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imp
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Post by imp on Feb 22, 2016 12:13:35 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation?
I am thinking of a system where the launch actually takes a few days - for example:
Pre-launch: Prefunding bids take place as now.
Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether.
Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted.
Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings.
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Liz
Member of DD Central
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Post by Liz on Feb 22, 2016 12:16:27 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation? I am thinking of a system where the launch actually takes a few days - for example: Pre-launch: Prefunding bids take place as now. Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether. Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted. Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings. NO!
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
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Post by cooling_dude on Feb 22, 2016 12:17:12 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation? I am thinking of a system where the launch actually takes a few days - for example: Pre-launch: Prefunding bids take place as now. Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether. Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted. Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings. Ok, I think I get it; so the investor is punished by loosing you more lucrative loans. Not a bad idea. I wouldn't mind SS trying something to curb gaming (although ATM we all do it...  )
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imp
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Post by imp on Feb 22, 2016 12:19:04 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation? I am thinking of a system where the launch actually takes a few days - for example: Pre-launch: Prefunding bids take place as now. Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether. Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted. Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings. NO! Okay - what's the glaring flaw in requiring people to have the funds available for their pre-funding?
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Post by dodgeydave on Feb 22, 2016 12:21:54 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation? I am thinking of a system where the launch actually takes a few days - for example: Pre-launch: Prefunding bids take place as now. Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether. Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted. Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings. Ok, I think I get it; so the investor is punished by loosing you more lucrative loans. Not a bad idea. I wouldn't mind SS trying something to curb gaming (although ATM we all do it... ) I dont have the solution just a suggestion as commented before. But its ridiculous that within a few minutes of a new loan going live it is being traded on the SM. And personally i dont game it. I only bid what i can fund.
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Post by ladywhitenap on Feb 22, 2016 12:22:23 GMT
Okay - what's the glaring flaw in requiring people to have the funds available for their pre-funding? Because if you don't get all you ask for then you have money tied up in SS and have to wait 24hrs to get it out again. This is a grown ups platform where we are trusted to pay up after the loans are allocated and makes SS one of the best! LW
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imp
Posts: 9
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Post by imp on Feb 22, 2016 12:23:45 GMT
Rather than freezing or penalising SM sales, couldn't they just require people to have the funds, with an option to reject their allocation? I am thinking of a system where the launch actually takes a few days - for example: Pre-launch: Prefunding bids take place as now. Launch day: Allocations made in the same way they are now. Investors have 24 hours to either fund their allocation fully, fund it partially or reject it altogether. Launch day + 24 hours: Unfunded and rejected allocations are divided among remaining investors in the same proportion as original allocation. Loan goes live and SM trading is permitted. Now, this won't necessarily stop some of the issues (it will potentially just delay some of them by a day) - but what it does do is mean that everyone has to at least be able to fund their initial allocation, and people won't miss out on their pre-funding by people claiming lots and then dumping it on SM immediately, which seems to be what is causing the most bad feelings. Ok, I think I get it; so the investor is punished by loosing you more lucrative loans. Not a bad idea. I wouldn't mind SS trying something to curb gaming (although ATM we all do it... ) It wouldn't really change the system gaming too much I expect, but it would mean people who still ended up short of what they intended would be penalised less by the people who either bid far too much or who look at their allocation and decide it is too small to be worth their time.
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Post by xyon100 on Feb 22, 2016 12:24:20 GMT
Okay - what's the glaring flaw in requiring people to have the funds available for their pre-funding? It means having idle money sitting earning nothing. The system as it is now is working.
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