sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 26, 2017 7:02:53 GMT
We moan when there are not enough loans and moan when there are too many loans...... just wait a few months. It does feel different this time. In the past all loans were 12% and INPL made it very easy to snap up parts on the SM, and there was confidence that the PF would bail out any losses. None of these apply anymore. I think we need DEF loan discounting and a Lendy IFISA to get us back to famine.
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archie
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Post by archie on Apr 26, 2017 7:24:28 GMT
I sold 8 loan parts yesterday which had been listed for a few days, sm is moving following the repayment.
The lack of new 12% loans is likely to reduce the amount of money lenders will keep on the platform.
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Post by jackpease on Apr 26, 2017 7:50:18 GMT
I sold 8 loan parts yesterday I also got shot of a shedload of 'stuck' loan parts over the last 24 hours. Opportunities for 12% are pretty thin elsewhere - I guess once people find it hard to invest at 12% elsewhere then they'll reluctantly have to settle for 10%/11%. Jack P
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Post by lendinglawyer on Apr 26, 2017 7:58:06 GMT
SM went down by approx 1m yesterday. Ok that's a fraction of the 3.5m repayment but there is >3m of go lives today I believe so people could be holding back for that. There's no problem selling if you hold loans people want. As per usual don't assume you'll be able to sell everything on a whim. And I still see the "PF will bail out losses" assumption which was always a dangerous assumption even when it was at full 2%.
I'm not concerned.
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twoheads
Member of DD Central
Programming
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Post by twoheads on Apr 26, 2017 8:01:58 GMT
PBL140 has just repaid. 3.5m repaid. SM will start to move again, another 1m due in Interest on Monday.
Will be interesting too see if anyone now wants to change comments from this thread. No, far from it! SM hasn't moved much by the way given £3.5m came in. Sure sign cash is being taken off the platform in now decent amounts. Worth mentioning as well, 12% in a distant dream considering how much time you could have money sat idle in loans awaiting sales. Not moved much? In the nine hours between 12:00 (when PBL140 repaid £3.5m) and 21:00 yesterday, the SM value reduced by £1.1m or 31%.
The total SM value (excluding DEFs) went from approximately £3.2m to £2.1m. This included a complete clean out of all 12% loans with 80 or more days remaining term.
The night owls, in the early hours, took the opportunity to sell off some more DFL003, DFL008 and others, adding around £200k to the market but that's mostly gone already.
My guess is that we will see more money reinvested today cleaning out DFLs 003 and 008 again and eating away even more of DFL004.
On May 1st there will be £1.49m of interest added to investors' accounts to add further liquidity.
EDIT: Crossed with both jackpease and lendinglawyer.
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dovap
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Post by dovap on Apr 26, 2017 8:16:08 GMT
I presume DFL 003 & 004
weren't completely cleared out yesterday despite being at 80 days?
half a mill or so 12% in the 50 - 80 range doesn't suggest that 12%ers are that hard to pick
more to plop out of the pipeline I suppose won't aid the clearance of the sm
hopefully a few more loans actually repay rather than head for the default tab
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twoheads
Member of DD Central
Programming
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Post by twoheads on Apr 26, 2017 8:23:49 GMT
I presume DFL 003 & 004 weren't completely cleared out yesterday despite being at 80 days? half a mill or so 12% in the 50 - 80 range doesn't suggest that 12%ers are that hard to pick more to plop out of the pipeline I suppose won't aid the clearance of the sm hopefully a few more loans actually repay rather than head for the default tab DFLs 003 and 008 were cleared out (and everything longer term at 12%).
DFL004 has had a lot spent on it - value reducing by over £110k.
See this snapshot of the market from 17:00 yesterday (Apr 24).
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dovap
Member of DD Central
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Post by dovap on Apr 26, 2017 8:48:09 GMT
thanks interesting snapshot.
does LoSS adjust the days remaining at a random point during the day ?
(most seem unchanged rather than a day less altho 008 has reduced but that seems the exception)
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
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Post by sqh on Apr 26, 2017 9:25:09 GMT
thanks interesting snapshot. does LoSS adjust the days remaining at a random point during the day ? (most seem unchanged rather than a day less altho 008 has reduced but that seems the exception) Each loan changes at a different time. It's probably depends on the exact time of day the loan was originally activated.
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Post by p2plender on Apr 26, 2017 11:17:52 GMT
Why oh why Lendy don't give you the option to list high to low the 'percentage' loans tab. The facility is there for high to low on the 'available' tab.
As stated by another forum member, the start of the 'available loans' page is headed by 7/8/9/10% ers.
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acky
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Post by acky on Apr 26, 2017 11:25:55 GMT
I sincerely hope that Lendy are considering allowing loans to be listed at a premium or discount on the secondary market as a number of other platforms do. For a large number of investors (myself included), knowing they can sell out more or less at any time is vital for investor confidence. With premiums and discounts allowed, the market for each loan would always find its true market price, so we would not get the feast and famine that characterises the current SM market. This would certainly therefore bring more money to the platform and/or help retain money already invested on the platform. Paul, are you listening?
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Post by lendinglawyer on Apr 26, 2017 12:17:02 GMT
I sincerely hope that Lendy are considering allowing loans to be listed at a premium or discount on the secondary market as a number of other platforms do. For a large number of investors (myself included), knowing they can sell out more or less at any time is vital for investor confidence. With premiums and discounts allowed, the market for each loan would always find its true market price, so we would not get the feast and famine that characterises the current SM market. This would certainly therefore bring more money to the platform and/or help retain money already invested on the platform. Paul, are you listening? Agree it's preferable from a sophisticated investor perspective, but it does complicate tax matters. So if Lendy want to remain mass market I am not sure they will want to accommodate. Paul64, thoughts?
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SteveT
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Post by SteveT on Apr 26, 2017 12:42:30 GMT
Why oh why Lendy don't give you the option to list high to low the 'percentage' loans tab. The facility is there for high to low on the 'available' tab. As stated by another forum member, the start of the 'available loans' page is headed by 7/8/9/10% ers. All columns on all tabs are sortable for me. (Except the 'valuation' column on the pipeline tab.) Admittedly, it wasn't always that way and is a recent change. Indeed, it seems to have been fixed in the last day or 2. Hoorah.
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Post by Paul64 on Apr 26, 2017 12:51:25 GMT
Hi, it is an interesting idea, with merit. It will need some exploration however.
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Post by ladywhitenap on Apr 26, 2017 13:11:27 GMT
I still dont seem to be able to sort on "remaining " (duration) on the my loans page.
Is this just me?
LW
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