merlin
Minor shareholder in Assetz and many other companies.
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Post by merlin on Jan 30, 2015 10:07:04 GMT
Well done Lendy a move in the right direction and should encourage lenders to invest more. However I for one look forward to the creation of a separate Trust Fund for the investments, then I will invest a lot more.
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bugs4me
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Post by bugs4me on Jan 30, 2015 10:22:48 GMT
Well done Lendy a move in the right direction and should encourage lenders to invest more. However I for one look forward to the creation of a separate Trust Fund for the investments, then I will invest more. Amen to that. Considering all the flak that savingstream took on these forums when they first appeared they do seem to have listened and learned very quickly to lender/investors requirements. So hats off to them in my book. Other platforms could learn a thing or two. Many of them seem to have their heads in the sand and wonder why they gradually drift off into the mist.
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j
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Penguins are very misunderstood!
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Post by j on Jan 30, 2015 12:12:47 GMT
Well done Lendy a move in the right direction and should encourage lenders to invest more. However I for one look forward to the creation of a separate Trust Fund for the investments, then I will invest a lot more. hear hear!
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paulg
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Post by paulg on Jan 30, 2015 13:29:28 GMT
I notice that the value of all 3 pipeline loans is already included in the Provision Fund "live loan book". Is this significant?
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mikes1531
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Post by mikes1531 on Jan 30, 2015 14:22:01 GMT
I notice that the value of all 3 pipeline loans is already included in the Provision Fund "live loan book". Is this significant? I haven't a clue. But I do note that the percentages shown on the bottom line of the PF page still are based on the old value for the PF, so perhaps the change was unintentional. Only savingstream can answer this question.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 30, 2015 19:50:34 GMT
Maybe this has been answered before but, how do we know SS/Lendy do have the indicated amount in PF available immediately in cash?
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mikes1531
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Post by mikes1531 on Jan 30, 2015 20:36:53 GMT
Maybe this has been answered before but, how do we know SS/Lendy do have the indicated amount in PF available immediately in cash? How do we know if any platform has their PF fund readily available How do we even know if any platform actually has assets/cash dedicated to their PF? With respect to the initial question... I'm not sure it's necessary -- or even appropriate -- for all the assets dedicated to a PF to be available immediately. For a platform like Z or RS, with zillions of loans outstanding, and where there's probably a steady but unpredictable flow of payments that need to be paid very promptly from the PF, then a certain amount of 'instant access' funds would be needed. For a platform like SS or AC, with a limited number of loans outstanding, and where losses requiring a payout from the PF will come with advance notice since the loan security would have to be liquidated first, 'instant access' funds should not be needed.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Jan 30, 2015 21:36:33 GMT
You guys really instil confidence in a man  My question stems as I had a thought that if SS do go up to say £30m-£40m bracket live loans, do they have the muscle to match it with a 2% PF & also payout if a bunch of loans defaulted within a very short period of time? Obviously debatable |
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hendragon
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Post by hendragon on Jan 31, 2015 9:50:45 GMT
We also need Lendy to clarify the nature of the PF. It is a good thing to establish the PF. How good will be determined by its exact nature.
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mikes1531
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Post by mikes1531 on Jan 31, 2015 14:08:58 GMT
We also need Lendy to clarify the nature of the PF. It is a good thing to establish the PF. How good will be determined by its exact nature. : If I were Lendy/SS reading the above, I wouldn't know what exactly you were asking for. What info would you like to have that would "clarify the nature of the PF"?
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Post by duncandive on Feb 1, 2015 9:56:21 GMT
Would the Provision Fund be called upon to cover the £1,270.00 in interest being earned every day on loans waiting to 'Drawdown', if they end up being withdrawn ?
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mikes1531
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Post by mikes1531 on Feb 1, 2015 22:56:11 GMT
Would the Provision Fund be called upon to cover the £1,270.00 in interest being earned every day on loans waiting to 'Drawdown', if they end up being withdrawn ? IMHO, yes. See my explanation in this post. PS. Please try to refrain from asking the same question in multiple threads, as it clogs up the forum.
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Post by 4thway on Feb 2, 2015 20:35:59 GMT
Maybe this has been answered before but, how do we know SS/Lendy do have the indicated amount in PF available immediately in cash? They have set up a separate company for the fund and funded it (initially) with shareholder money. I can only imagine they've used cash for it as opposed to other assets, security, bananas  And they have said they'll top it up with each loan. I don't think we have any reason to doubt that the cash is there in the separate account.
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j
Member of DD Central
Penguins are very misunderstood!
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Post by j on Feb 2, 2015 21:22:26 GMT
Maybe this has been answered before but, how do we know SS/Lendy do have the indicated amount in PF available immediately in cash? They have set up a separate company for the fund and funded it (initially) with shareholder money. I can only imagine they've used cash for it as opposed to other assets, security, bananas And they have said they'll top it up with each loan. I don't think we have any reason to doubt that the cash is there in the separate account. Now if they used Fish for security on the PF.....ahhhh.....happy dreams 
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mikes1531
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Post by mikes1531 on Feb 3, 2015 3:57:29 GMT
I notice that the value of all 3 pipeline loans is already included in the Provision Fund "live loan book". Is this significant? Further to my earlier reply, now I think that was an error as the statistics for the PF have now reverted to showing just the outstanding loans. savingstream: Does this mean that when the website said there was over £300k in the PF it was not true? Or has £50k recently been removed from the PF? An explanation of what has happened would be appreciated.
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My question stems as I had a thought that if SS do go up to say £30m-£40m bracket live loans, do they have the muscle to match it with a 2% PF & also payout if a bunch of loans defaulted within a very short period of time? Obviously debatable
And they have said they'll top it up with each loan.