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Post by multiaccountmanager on Aug 10, 2021 7:44:59 GMT
Does anyone have any insights as to why this loan is so late?
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Post by Ace on Aug 10, 2021 8:56:53 GMT
I'm not in this one, so no inside knowledge.
I see that it was due to start in Dec 2019 and run for 12 months. If it did start then, it should have shown up in the "> 180 days late" stats in June this year, but I don't recall any increase in those stats at that time. Perhaps it started late and therefore is still under 180 days late now. It appears on first sight to be a simple enough project for an experienced developer.
It's a real shame that we can't see updates for loans that we're not in on CP. I understand the need to keep some sensitive info restricted to actual lenders in the loan, but keeping it all hidden seems unnecessary. Being able to see how late loans are dealt with is something that would gives us a much better picture of a platform.
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Post by multiaccountmanager on Aug 10, 2021 9:13:41 GMT
Update today. Refinancing now proceeding after delay because Borrower forgot to satisfy a planning condition.
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Post by Ace on Aug 11, 2021 20:09:29 GMT
I notice that the number of 2019 originated loans more than 180 days late has increased by 2 today. If one of them is this loan then CP have been rather slow at updating their stats, I.e. a 12 month loan originating in 2019 would be at least 222 days late today.
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Post by multiaccountmanager on Aug 12, 2021 12:14:51 GMT
I notice that the number of 2019 originated loans more than 180 days late has increased by 2 today. If one of them is this loan then CP have been rather slow at updating their stats, I.e. a 12 month loan originating in 2019 would be at least 222 days late today. It is alarming that CP can be disbursing the whole loan and only find that a planning condition has not been satisfied when it comes to the time to try to refinance.
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