james
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Post by james on Mar 9, 2014 9:45:33 GMT
Have you seen any patterns in good days of the week or month for resale?
It's been a great weekend for resale for me so far. 21 loans sold for about €555. I still have 44 worth €1300 for sale. 16 worth €910 temporarily not on sale because payments are due to happen soon.
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starfished
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Post by starfished on Mar 9, 2014 9:57:05 GMT
16 worth €910 temporarily not on sale because payments are due to happen soon. Once on sale, how do you cancel a resale? I have had an uptick of sales recently after a week or so of nothing but small sample so could be nothing.
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james
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Post by james on Mar 9, 2014 10:35:35 GMT
To cancel, you search for the borrower name in resale. If it has an x in the right column it is a loan that you are selling and you can click on the x to cancel. You will be asked it you want to cancel, click the button to confirm or undo.
Since mid January my average profit and loss from resale has been a 2.25% loss. That's OK because many loans have been late or soon to default. This calculation includes the isePankur fee. Compared to the total value of all loans I have plus the loans sold in that time my default loss is about 0.9% without including the effect of resale but valuing all defaults at 100% loss. Adding the effect of the sale losses increases that to about 1.1%. If I remove the value of the loans made this year from the lent value it is about 1.9% of that total. So maybe 1.9% loss and possible loss to defaults and possible defaults that I sold as my experience so far.
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starfished
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Post by starfished on Mar 9, 2014 18:17:24 GMT
Thanks!
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Post by batchoy on May 31, 2014 8:09:33 GMT
Having developed more defaulters than I would like I've instigated a far harsher regimen with regard to late payers, so I had a session listing those I want to dispose of on the secondary market last night. Surprisingly despite all pf them being flagged as late over 30% of them had sold by this morning.
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duck
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Post by duck on Jun 1, 2014 6:48:26 GMT
Nice result batchoy, I've had a less successful week. Were you reselling with zero mark up? Were the buyers rates particularly attractive?
I've never worked out the psychology of rate mark up/down Does 0% say 'bargain' or 'desperate to get rid' My sales patterns defy logic in as much as I have sold loans at a small premium with 2 non payments and more letters sent than the Post Office delivers in a year (IMHO almost certain default) ......... and others with a higher overall rate, 0% mark up and a far better payment record have failed to sell.
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Post by batchoy on Jun 1, 2014 7:16:38 GMT
Nice result batchoy, I've had a less successful week. Were you reselling with zero mark up? Were the buyers rates particularly attractive?
Everything had a 2% markup, was currently late on at least one payment by more than 3 weeks and had rates ranging 12%-36%. They are continuing to sell and I have now sold nearly 50% of those I listed for sale. One thing of note is that it is the smaller loan parts that are selling not the larger ones i.e. the ones that started as €10 shares
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duck
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Post by duck on Jun 1, 2014 8:16:18 GMT
Thanks for that, the small investment amounts is possibly the decider, most of mine have been €25 upwards and these have not been selling even at 0%. Like you batchoy I've been having a bit of a purge on lates, May was my worst month so far for defaults (£347 based on daily conversion rates) but this was still far outweighed by interest - my ROI increased over the month.
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james
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Post by james on Jun 3, 2014 2:24:33 GMT
The value being sold is critical. It becomes substantially harder to sell once the 25, 50 or 100 Euro levels are reached. I assume due to the reduced number of possible buyers.
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