markdirac
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Post by markdirac on Jan 5, 2017 18:48:05 GMT
Why are there so many loans taking so long to fill on FS? These loans would have been snapped up by now at SS or MT.
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SteveT
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Post by SteveT on Jan 5, 2017 19:06:25 GMT
Fewer active lenders, although some have very deep pockets. You can count them (and see the size of their bids) on the "Investments" tab for each loan.
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Liz
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Post by Liz on Jan 5, 2017 19:23:27 GMT
I blame the Byzantine Secondary Market.
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Post by eascogo on Jan 5, 2017 20:15:45 GMT
Fewer active lenders, although some have very deep pockets. You can count them (and see the size of their bids) on the "Investments" tab for each loan. For a more realistic view a copy of the list is best sorted so multibid investors show together. There usually are quite a few repeats.
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Post by eascogo on Jan 5, 2017 20:18:50 GMT
I blame the Byzantine Secondary Market. Yes probably their Achilles heel. This is probably why they have to offer 13% and bonuses to remain in the game.
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stevio
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Post by stevio on Jan 5, 2017 20:23:45 GMT
Lenders have had long enough now to witness the level of defaults (seen now even in property loans which FS took a side step into from pawn) and many are taking a more 'cautious' approach
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stevio
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Post by stevio on Jan 5, 2017 20:26:10 GMT
I blame the Byzantine Secondary Market. Yes probably their Achilles heel. This is probably why they have to offer 13% and bonuses to remain in the game. Actually I think this can work well for some in certain circumstances, but not others More a marmite (like ablrate SM)
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daveb4
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Post by daveb4 on Jan 5, 2017 20:38:23 GMT
FS need to make sure they clear out some of the more riskier loans from last year and concentrate on some of the better ones. It is the same loans every six months that seem to stick. I am not sure though it is as easy that. Hopefully they are learning as they grow and already seeing higher rates but will borrowers pay the rates.
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Post by eascogo on Jan 5, 2017 20:44:25 GMT
Yes probably their Achilles heel. This is probably why they have to offer 13% and bonuses to remain in the game. Actually I think this can work well for some in certain circumstances, but not others More a marmite (like ablrate SM) I'm aware it is attractive to some sellers but insufficient to avoid huge the queue of loans for sale.
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stevio
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Post by stevio on Jan 5, 2017 20:51:19 GMT
Actually I think this can work well for some in certain circumstances, but not others More a marmite (like ablrate SM) I'm aware it is attractive to some sellers but insufficient to avoid huge the queue of loans for sale. SM activity has remained consistent and recycling of money helped immensely by underwriting, which is the reason I think it's more caution after being burned, than money getting stuck in SM
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Monetus
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Post by Monetus on Jan 5, 2017 21:27:37 GMT
Lenders have had long enough now to witness the level of defaults (seen now even in property loans which FS took a side step into from pawn) and many are taking a more 'cautious' approach This. Several defaults - Wind Turbine, Boatyard Loan and a very passive approach to dealing with defaulters and borrowers. I have several overdue renewal loans "awaiting funds" that are months late.
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Post by Deleted on Jan 5, 2017 21:31:03 GMT
Why are there so many loans taking so long to fill on FS? These loans would have been snapped up by now at SS or MT. I must be missing something, the majority of the available loans are close to being filled (90-95%).
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markdirac
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Post by markdirac on Jan 5, 2017 21:36:41 GMT
Why are there so many loans taking so long to fill on FS? These loans would have been snapped up by now at SS or MT. I must be missing something, the majority of the available loans are close to being filled (90-95%). They have been close to being filled for days and days now. Not hours and hours (MT), or even seconds and seconds (SS).
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stevio
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Post by stevio on Jan 5, 2017 22:14:28 GMT
I must be missing something, the majority of the available loans are close to being filled (90-95%). They have been close to being filled for days and days now. Not hours and hours (MT), or even seconds and seconds (SS). I think that is the norm and not something that's changed
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 5, 2017 22:28:37 GMT
These have indeed, in most cases, been hanging about from b4 or between Christmas. More concerning is how long some loans sit in limbo between funded and drawn down whilst retaining lenders money, admittedly earning interest.
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