ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 8, 2016 13:14:44 GMT
It would be nice if MT had some tag/field in database and on the page that identifies the borrower. Then people can do some spreadsheet magic to sum up the holdings/exposure. Quite good solution (and I Franticaly Cringe saying that) has FC. On the loan page you see all the other loans of the borrower. I bet Shaung can develop something even better. For example a separate summary page per borrower when you see list of all their current/past loans, your exposure ect Remember we are lending to MT for the loans that start MT and in most cases MT would buy the loan back from us in the event of a default, therefore who the ultimate borrower is is less important rather your total exposure to each partner & MTs own loans as the partners potential failure would be the key determinant in ease of recovery . Not entirely sure if this is the case with the supercar loans, did MT make the loans initially and then sell them on to us? And BPF loans are also different as only first loss 5% not full buyback so indivividual asset more important. That said identification of the individual borrowers on MT loans would be useful for analysis of MTs exposure to each and corresponding impact that a default could have on MT finances/viability
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spiral
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Post by spiral on Jan 8, 2016 14:45:55 GMT
Remember we are lending to MT for the loans that start MT Is this right? The website states "As a MoneyThing lender, you have additional security, since you buy existing loans which MoneyThing has already vetted, asset-secured and lent on ourselves. In other words, we make loans with our own money, secured on physical assets. We then make these loans available on our platform." I take that to mean that ownership transfers.
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SteveT
Member of DD Central
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Post by SteveT on Jan 8, 2016 14:55:04 GMT
Remember we are lending to MT for the loans that start MT Is this right? The website states "As a MoneyThing lender, you have additional security, since you buy existing loans which MoneyThing has already vetted, asset-secured and lent on ourselves. In other words, we make loans with our own money, secured on physical assets. We then make these loans available on our platform." I take that to mean that ownership transfers. See p2pindependentforum.com/post/45293/thread
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spiral
Member of DD Central
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Post by spiral on Jan 9, 2016 9:09:23 GMT
Actually having read that, I realised that I had read it before signing up. After reading it through a few times again , it seems that MT own the original loan but assign the security proportionally by deed of tansfer on purchase of loan parts. I take this to mean there is some mileage in wanting to diversify original borrowers as if MT went into administration, the safety of any of your returns will be governed by the safety of the specific loan choices you have made and not governed by the pooled returns that administrators would get on MT loan book as a whole.
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