ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Sept 20, 2018 18:46:40 GMT
MoneyThing SophieThing was well received by me - could / should it also be posted here by way of some engagement? More importantly, will your new recruit have a chocolate allowance? it would be great to have a bit of 'fun' as well as engagement injected in to P2P again!
|
|
james21
Member of DD Central
Posts: 651
Likes: 669
|
Post by james21 on Sept 20, 2018 18:54:19 GMT
Certainly better than the Lendy and FS BS, and not afraid to mention the taboo late payments and defaults performance
For me key points;
Not growing the business Secondary market stagnant , (read; the queue to sell is massive, majority wish to exit if they could) Effective management of defaults a lot more optimistic than I am seeing
|
|
justme
Member of DD Central
Posts: 203
Likes: 89
|
Post by justme on Sept 20, 2018 19:20:47 GMT
Interesting that performing live loans are for 15 millions while nonperforming and defaulted are just above 10 millions - more than 40% of loan book is in trouble.
|
|
|
Post by MoneyThing on Sept 20, 2018 20:30:49 GMT
MoneyThing SophieThing was well received by me - could / should it also be posted here by way of some engagement? More importantly, will your new recruit have a chocolate allowance? it would be great to have a bit of 'fun' as well as engagement injected in to P2P again! Thanks ptr120 – appreciated & agreed. Yes, Sophie and I also miss the older days when there was a little more fun & banter on this forum. It does appear that the character/tone has changed over the last year which is perhaps understandable as P2P has had some interesting/challenging times of late, however I agree it would be good to get some of the fun back again. Whilst it is fair to say we have had our own challenges of late, I am personally comfortable we are doing things appropriately and in the best interests of our lenders. I do admit that I have been overly risk-averse about posting here and I am committing to change this. There is unfortunately a small litigious minority that have made it difficult to be as candid as we would like. Sophie and I do passionately care about the company and our customers and whilst we are not going to throw caution to the wind, we are going to be a little braver and engage with people again. So…perhaps tomorrow being Friday, I might have to come up with a choccy competition… let me sleep on it and I’ll come back to you. Regards, Ed
|
|
ptr120
Member of DD Central
Posts: 1,198
Likes: 1,346
|
Post by ptr120 on Sept 20, 2018 21:51:09 GMT
MoneyThing SophieThing was well received by me - could / should it also be posted here by way of some engagement? More importantly, will your new recruit have a chocolate allowance? it would be great to have a bit of 'fun' as well as engagement injected in to P2P again! Thanks ptr120 – appreciated & agreed. Yes, Sophie and I also miss the older days when there was a little more fun & banter on this forum. It does appear that the character/tone has changed over the last year which is perhaps understandable as P2P has had some interesting/challenging times of late, however I agree it would be good to get some of the fun back again. Whilst it is fair to say we have had our own challenges of late, I am personally comfortable we are doing things appropriately and in the best interests of our lenders. I do admit that I have been overly risk-averse about posting here and I am committing to change this. There is unfortunately a small litigious minority that have made it difficult to be as candid as we would like. Sophie and I do passionately care about the company and our customers and whilst we are not going to throw caution to the wind, we are going to be a little braver and engage with people again. So…perhaps tomorrow being Friday, I might have to come up with a choccy competition… let me sleep on it and I’ll come back to you. Regards, Ed Thanks Ed, I appreciate your candor. While I understand your position, and understand that this forum might sometimes be a thorn in your side - it can also be your biggest shop window. I know that I have given you some stick from time to time on here (and also offline) - I also regret not defending you on one occasion when I could have done, but didn't. In some instances I've overcome a personal risk aversion regarding a particular loan due to platform or other investor engagement, and while I understand your position in terms of risk-aversion, please do think about the risk vs reward. Your care is apparent and certainly appreciated. So as I've just started a new job and have had a tough first two weeks, please can I have a choccy bar? It'd help me feel better!
|
|
archie
Posts: 1,838
Likes: 1,842
|
Post by archie on Sept 21, 2018 6:30:07 GMT
Meet "The Things" page doesn't have an entry for JeremyThing yet.
|
|
|
Post by SophieThing on Sept 21, 2018 7:29:14 GMT
Hi Archie,
Early next week the site will be updated.
Kind regards
Sophie
|
|
|
Post by SophieThing on Sept 21, 2018 7:34:34 GMT
Interesting that performing live loans are for 15 millions while nonperforming and defaulted are just above 10 millions - more than 40% of loan book is in trouble. Hi justme, Well I guess you can make the figures say what you want. My view is that if you compare defaults to a live loan book, you miss out a key figure, which is all the repaid loans. If you compare the remaining defaults with the total originated, remaining capital outstanding is 7.75% as things stand today. The slow loan origination this year has also made the defaults seem magnified as the live loan book as decreased slightly as performing loans have repaid. Also just to point out that what we call ‘non-performing’ are not even reportable on other platforms. Some platforms report non-performing after 45, 90 or 180 days. We report after 14 days. On this basis, you could say that £21.6m of the £28m live are performing. The FCA include some standard definitions of a ‘default’ in their recent consultation paper. For us this is great as it would reduce our default statistics. For other platforms, I expect their published default rate would increase dramatically. That’s the issue when there is no standard definition. We’ve taken a fairly hard line in or definitions, which is not so great for marketing purposes, but we think it is more useful to lenders. Would be interesting to know if anyone has a view on this. Kind regards Sophie
|
|
|
Post by Deleted on Sept 21, 2018 8:32:39 GMT
I'm no expert SophieThing but I would suggest that the regular outrage raised here and on trustpilot from not declaring what by any other definition are clearly defaults until 180days on another platform isn't the finest form of marketing either. I for one am staggered how you can produce a detailed plan of action for each default when another platform continue to repeat meaningless one line updates month on month, year on year. Keep up the good work, if origination improves again I'm still very much on board.
|
|
justme
Member of DD Central
Posts: 203
Likes: 89
|
Post by justme on Sept 21, 2018 19:23:40 GMT
i take your point, Sophie thank you for pointing out additional considerations
|
|
|
Post by MoneyThing on Sept 21, 2018 19:57:33 GMT
Meet "The Things" page doesn't have an entry for JeremyThing yet. ...yep - meeting up with Jeremy on Monday so will be sure to have my camera with me. Perhaps also manage to catch my brother for the rogues gallery also (having looked through the family snaps, none are quite appropriate...at least not for an accountant)...
|
|
|
Post by MoneyThing on Sept 21, 2018 21:30:06 GMT
MoneyThing SophieThing was well received by me - could / should it also be posted here by way of some engagement? More importantly, will your new recruit have a chocolate allowance? it would be great to have a bit of 'fun' as well as engagement injected in to P2P again! Thanks ptr120 – appreciated & agreed. Yes, Sophie and I also miss the older days when there was a little more fun & banter on this forum. It does appear that the character/tone has changed over the last year which is perhaps understandable as P2P has had some interesting/challenging times of late, however I agree it would be good to get some of the fun back again. Whilst it is fair to say we have had our own challenges of late, I am personally comfortable we are doing things appropriately and in the best interests of our lenders. I do admit that I have been overly risk-averse about posting here and I am committing to change this. There is unfortunately a small litigious minority that have made it difficult to be as candid as we would like. Sophie and I do passionately care about the company and our customers and whilst we are not going to throw caution to the wind, we are going to be a little braver and engage with people again. So…perhaps tomorrow being Friday, I might have to come up with a choccy competition… let me sleep on it and I’ll come back to you. Regards, Ed My apologies - I completely failed in thinking up something interesting/funny today for a choccy competition. As such, for anyone who is still online late on a Friday night who would like some chocolate, please post something on this thread and the first 10 people to do so will get some (chocolate that is). Goodnight all. Ed. [If you are one of the 10 posts after this one, please PM me with your name and address and I will dispatch your prize asap]
|
|
|
Post by Badly Drawn Stickman on Sept 21, 2018 21:37:38 GMT
Give a man a bar of chocolate you feed him for a day. Get some good quality loans paying regular interest you feed him for life.
Never pass up an opportunity to butcher a well know saying.
|
|
hazellend
Member of DD Central
Posts: 2,361
Likes: 2,179
|
Post by hazellend on Sept 21, 2018 21:45:32 GMT
Quack!
|
|
amwinv
Member of DD Central
Posts: 198
Likes: 282
|
Post by amwinv on Sept 21, 2018 21:49:33 GMT
Oh lordy. Free chocolate?
|
|