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Post by phlitb on Apr 17, 2014 11:33:07 GMT
This loan has dropped off the SM, although I have parts still showing for sale in more than one account. No comments, first repayment not due until May. FC glitch / cock-up or should I be concerned?
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fasty
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Post by fasty on Apr 17, 2014 11:41:05 GMT
Excuse my ignorance, what do you mean by "SM"? I have parts in this loan and can't see any issues at the moment.
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oldgrumpy
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Post by oldgrumpy on Apr 17, 2014 11:49:43 GMT
What's the betting this company is paying way over the odds from the recent high rates sessions, and either they are going to repay in full having got a cheaper deal elsewhere, or intend to reapply for a larger loan which will include repaying this one, with the aim of a much reduced rate. FC maybe just haven't got round to notifying lenders yet. The company is B risk and paying 12%. Realistically they shouldn't be paying much over 10%.
SM = secondary market.
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Post by aloanatlast on Apr 17, 2014 11:57:49 GMT
I think the Loan Parts page is doing a bit of random filtering. 5142 is another one I can't see. But the logjams look thinner all round and I'm only seeing less than 13,000 on sale at par or better, so on the whole I'm just not believing what I'm seeing this morning.
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Post by pepperpot on Apr 17, 2014 12:09:31 GMT
I think there might be a glitch as about half my loans have disappeared from view on the SM (secondary market), it's happened before. They come back eventually.
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blender
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Post by blender on Apr 17, 2014 12:33:16 GMT
I think the Loan Parts page is doing a bit of random filtering. 5142 is another one I can't see. But the logjams look thinner all round and I'm only seeing less than 13,000 on sale at par or better, so on the whole I'm just not believing what I'm seeing this morning.
Agreed, someting has gone wrong with the secondary market. When I last looked, early this morning I think but may have been yesterday evening, there were still 21,000 loan parts unsold at par or a discount and now there are 'only' 12,700. Mine are all there still and I have sold only about 3 parts out of 100. So a lot of stuff has been removed by some means, which has to be systematic. I had noted a reduction in the unsold parts at par or better, but only just getting back to the pre 1% level.
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Post by phlitb on Apr 17, 2014 19:24:39 GMT
This must represent my favourite FC glitch so far. An hour or two ago, still no sign of my 5595s on the SM so I delisted a couple of parts from one of my accounts and immediately relisted them. Hey presto, they appeared on the SM - just my 2 parts, and since they obviously represented such good value even at a 3% markup - no competing parts of course - they were snapped up in a jiffy. And then suddenly all the 5595s for sale on the SM reappeared! I then repeated the exercise with some of the other invisible SM parts, de/relisting them and again only mine are/were available apparently until a sale occurs, at which point all parts for sale become live again.
I write software for a living and can only wonder what an unbelievable mess their code must be in for this sort of behaviour to occur. It can be fun, and occasionally lucrative, to play on FC but I would never in a million years commit a serious amount of money to that platform.
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Post by aloanatlast on Apr 18, 2014 4:29:54 GMT
I write software for a living and can only wonder what an unbelievable mess their code must be in for this sort of behaviour to occur. It can be fun, and occasionally lucrative, to play on FC but I would never in a million years commit a serious amount of money to that platform. I sometimes worry about the banks - there are enough indications that their systems are a mess and heading for a meltdown. Anyway, FC-normality now seems to be restored.
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blender
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Post by blender on Apr 18, 2014 7:56:03 GMT
... Anyway, FC-normality now seems to be restored. Yes, unsold loan parts at par or a discount back up to 20,000 - just as it was before the 1% offer. But now the number of new loans is lower. Did FC fail to hold the step increase in volume?
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Post by GSV3MIaC on Apr 18, 2014 8:00:38 GMT
Maybe they bascked off after that one loan failed to fund .. The 1% was just a patch for what was in the queue. Hard to tell whether the decrease is going to be more permanent until after the Hols.
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