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Post by khampson on Oct 4, 2016 21:08:05 GMT
Not used funding circle for over a year now, can you still get good 0% mark up loans on the secondary market or is their an invisible bot swallowing them us as soon as they are posted? Meaning all the good value parts are impossible to get hold of?
Thanks
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fasty
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Post by fasty on Oct 4, 2016 21:32:32 GMT
Well, there certainly are bots operating that will promptly hoover up any loan parts in the SM at attractive rates, not only at par but often at a premium.
Unfortunately they are not clever enough to read if a loan has recently been late. I take pleasure in feeding them my cast-offs.
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voss
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Post by voss on Oct 5, 2016 6:33:28 GMT
That bot called Autobid will still buy enormous quantities of 0% parts pretty quickly.
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blender
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Post by blender on Oct 5, 2016 8:52:15 GMT
I sold a lot of parts at par in a 10% property loan yesterday, because it was approaching the end-game. Nearly all bought by a bot called s*m*n (or someone with extremely fast fingers). Presumably that bot does not check the number of payments left, or expects FC property loans to repay early. I think Autobid took a little, but was beaten to it. They would not sell at a premium.
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markr
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Post by markr on Oct 5, 2016 9:10:04 GMT
Following the thread about the London property loan that didn't buy any property, I offloaded the last of my parts at par yesterday, all were snapped up in milliseconds by bots including lots of tranche 2 parts. This made its penultimate payment today and is now unsaleable, so the bots will probably be left holding it when the music stops.
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jayjay
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Post by jayjay on Oct 5, 2016 9:38:02 GMT
Following the thread about the London property loan that didn't buy any property, I offloaded the last of my parts at par yesterday, all were snapped up in milliseconds by bots including lots of tranche 2 parts. This made its penultimate payment today and is now unsaleable, so the bots will probably be left holding it when the music stops. That was almost certainly autobid that took them. I have not seen a par offer stick out there for more than a minute for a while. It is possible to get premiums of 0.3% on some very unattractive parts.
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blender
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Post by blender on Oct 5, 2016 10:01:47 GMT
Following the thread about the London property loan that didn't buy any property, I offloaded the last of my parts at par yesterday, all were snapped up in milliseconds by bots including lots of tranche 2 parts. This made its penultimate payment today and is now unsaleable, so the bots will probably be left holding it when the music stops. That was almost certainly autobid that took them. I have not seen a par offer stick out there for more than a minute for a while. It is possible to get premiums of 0.3% on some very unattractive parts. Autobid takes only one part per lender. It is easy to tell Autobid from a bot taking multiple parts.
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markr
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Post by markr on Oct 5, 2016 10:06:21 GMT
That was almost certainly autobid that took them. Oops, apologies to the autobiddies, I hope it pays back in a timely manner.
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blender
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Post by blender on Oct 5, 2016 11:18:00 GMT
The great majority of mine, nearly 100 parts, went to this bot called s*m*n, and very few Autobiddies were involved. It must have been within the criteria programmed by his master. Let's hope the master is pleased - there is unlikely to be a loss - just a delay at 10%, repayment of FC property loans being optional.
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jayjay
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Post by jayjay on Oct 5, 2016 11:42:54 GMT
repayment of FC property loans being optional. Yes, its all part of the Firmly Contrarian policy to put their customers first. The problem is that with all this cash floating around the customer is the borrower never the lender. As lenders we are just pawns in the building of an ever larger loan book for FC!
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blender
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Post by blender on Oct 5, 2016 12:37:45 GMT
repayment of FC property loans being optional. Yes, its all part of the Firmly Contrarian policy to put their customers first. The problem is that with all this cash floating around the customer is the borrower never the lender. As lenders we are just pawns in the building of an ever larger loan book for FC! Yes, the Borrowers are the customers, ie the sources of business opportunities, and the investors-who-lend are a source of funds. To some extent that makes sense, especially to the sales dept. But, I would be happier if I felt that FC were choosing to extend property loans indefinitely (penalty rates would be good). I fear that FC just do not have the effective power to make borrowers repay if that does not suit them.
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acky
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Post by acky on Oct 5, 2016 16:06:59 GMT
repayment of FC property loans being optional. Yes, its all part of the Firmly Contrarian policy to put their customers first. The problem is that with all this cash floating around the customer is the borrower never the lender. As lenders we are just pawns in the building of an ever larger loan book for FC! Pawns, yes, but fairly well paid pawns. Almost tarts, really!
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adrianc
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Post by adrianc on Oct 5, 2016 16:14:19 GMT
Yes, its all part of the Firmly Contrarian policy to put their customers first. The problem is that with all this cash floating around the customer is the borrower never the lender. As lenders we are just pawns in the building of an ever larger loan book for FC! Pawns, yes, but fairly well paid pawns. Almost tarts, really!  Oh, sorry. Mis-heard you.
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