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Post by mead187 on Jun 7, 2014 21:22:29 GMT
Hello,
I've decided that FC is no longer for me and I'd like to sell up shop and run for the hills. When selecting the autosale feature does it sell your loan parts at 0%? I have a feeling it will because FC are stupid but i'd like to try and sell as many as possible at par and the rest at 0% if necessary. Individually selling each part at 0.2/0.3% might prove to be a bit time consuming so I'm wondering if there's a quicker and less finger numbing way to do it? Thanks
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min
Member of DD Central
Posts: 615 
Likes: 182
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Post by min on Jun 8, 2014 5:16:43 GMT
Hello, I've decided that FC is no longer for me and I'd like to sell up shop and run for the hills. When selecting the autosale feature does it sell your loan parts at 0%? I have a feeling it will because FC are stupid but i'd like to try and sell as many as possible at par and the rest at 0% if necessary. Individually selling each part at 0.2/0.3% might prove to be a bit time consuming so I'm wondering if there's a quicker and less finger numbing way to do it? Thanks At par and 0% are the same thing. If you want to get out quick then use auto sale. If you want to get best value for your portfolio then sell each loan part at a markup (0.3% at least or you lose after paying fees). I've been thinking that FC ought to introduce a way of putting your whole portfolio (minus bad debt) up for auction.
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pikestaff
Member of DD Central
Posts: 2,187
Likes: 1,546
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Post by pikestaff on Jun 8, 2014 7:04:54 GMT
When I got out I listed every loan part individually at the highest markup I thought the market might bear for that particular part, then reduced the price on unsold parts every 7 days until I got down to par. There were enough buyers around at the time that I did not have to reduce any to below par. From what I've seen on this forum, that might not be the case now.
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maxmarengo
Member of DD Central
Posts: 96
Likes: 28
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Post by maxmarengo on Jun 8, 2014 7:52:09 GMT
Based on my experience over the last couple of months:
- if rate below MBR list at 0 premium. Parts will gradually sell to autobidders who have not set their minima correctly (may take a month or more). NB if rate is too far below MBR you may need to discount.
- if rate above MBR you may be able to cover costs or take some profit, 'though I have had little interest in anything above MBR+0.5%
To keep the process manageable:
- All the parts with rates well above MBR, list manually taking profit down to MBR +0.5% to 1%
- Autosale the rest
Remember to do the autosale step second. Come back in 2 weeks and repeat with lower profits on the first group.
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Post by mead187 on Jun 8, 2014 13:49:00 GMT
Hello, I've decided that FC is no longer for me and I'd like to sell up shop and run for the hills. When selecting the autosale feature does it sell your loan parts at 0%? I have a feeling it will because FC are stupid but i'd like to try and sell as many as possible at par and the rest at 0% if necessary. Individually selling each part at 0.2/0.3% might prove to be a bit time consuming so I'm wondering if there's a quicker and less finger numbing way to do it? Thanks At par and 0% are the same thing. If you want to get out quick then use auto sale. If you want to get best value for your portfolio then sell each loan part at a markup (0.3% at least or you lose after paying fees). I've been thinking that FC ought to introduce a way of putting your whole portfolio (minus bad debt) up for auction. I think that's my Golfer side coming out, I always thought of Par as without loss or gain. Thanks for the inputs, ill try 0.3% for a week and then 0% thereafter. So long FC!
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