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Post by moneymagnet on Oct 7, 2017 22:41:37 GMT
Does anyone know how to find the default interest rate on this group of loans? I couldn't find it in any of the documentation on the MT website. I would presume 18% from the text of the related MTAI582 (on the completed loans page). I bet you are right ali, thanks. It looks like the 12% loans that have defaulted recently have gone to 14% and 13% loans that have gone overdue have gone up to 18%. I would have thought that a default rate would have been stated in the documentation somewhere though. In any case, we'll see what happens a month from now.
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fogey
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Post by fogey on Oct 8, 2017 22:10:11 GMT
I would presume 18% from the text of the related MTAI582 (on the completed loans page). I bet you are right ali, thanks. It looks like the 12% loans that have defaulted recently have gone to 14% and 13% loans that have gone overdue have gone up to 18%. I would have thought that a default rate would have been stated in the documentation somewhere though. In any case, we'll see what happens a month from now. Tomorrow it will be one month since this lot suffered a Panic that took them to the normal place at the top of the availability chart ... so then it will qualify as Panic of the Month. A lot of people here seem to think that default is inevitable but there is still a steady stream of money going in ...
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Post by eascogo on Oct 8, 2017 22:26:29 GMT
I bet you are right ali, thanks. It looks like the 12% loans that have defaulted recently have gone to 14% and 13% loans that have gone overdue have gone up to 18%. I would have thought that a default rate would have been stated in the documentation somewhere though. In any case, we'll see what happens a month from now. Tomorrow it will be one month since this lot suffered a Panic that took them to the normal place at the top of the availability chart ... so then it will qualify as Panic of the Month. A lot of people here seem to think that default is inevitable but there is still a steady stream of money going in ...
360k for sale but only 1k bought today, a tiny trickle indeed. Good news badly needed for this lot to shift.
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fogey
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Post by fogey on Oct 8, 2017 22:42:48 GMT
Tomorrow it will be one month since this lot suffered a Panic that took them to the normal place at the top of the availability chart ... so then it will qualify as Panic of the Month. A lot of people here seem to think that default is inevitable but there is still a steady stream of money going in ...
360k for sale but only 1k bought today, a tiny trickle indeed. Good news badly needed for this lot to shift. Paranoia rules ok !! Keep taking the antidepressants
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Post by westcountry on Oct 9, 2017 9:15:22 GMT
I bet you are right ali, thanks. It looks like the 12% loans that have defaulted recently have gone to 14% and 13% loans that have gone overdue have gone up to 18%. I would have thought that a default rate would have been stated in the documentation somewhere though. In any case, we'll see what happens a month from now. Tomorrow it will be one month since this lot suffered a Panic that took them to the normal place at the top of the availability chart ... so then it will qualify as Panic of the Month. A lot of people here seem to think that default is inevitable but there is still a steady stream of money going in ...
I suspect why the loans are still in panic sell mode, is that MT haven't provided an update (barring the "there will be an update soon" updates) since the update which sparked the panic selling. If they posted an update setting out what was happening with the loan, a lot of the sales queue would probably disappear quickly.
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n
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Post by n on Oct 9, 2017 9:52:27 GMT
Tomorrow it will be one month since this lot suffered a Panic that took them to the normal place at the top of the availability chart ... so then it will qualify as Panic of the Month. A lot of people here seem to think that default is inevitable but there is still a steady stream of money going in ...
I suspect why the loans are still in panic sell mode, is that MT haven't provided an update (barring the "there will be an update soon" updates) since the update which sparked the panic selling. If they posted an update setting out what was happening with the loan, a lot of the sales queue would probably disappear quickly. Back in the day when banks still had managers I was told that "no news is bad news".
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oik
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Post by oik on Oct 9, 2017 9:52:49 GMT
If you don't want to sell, then it's of no real interest if a lot of others do. If you do want to sell, then it's probably way too late for that now and so of no useful interest either.
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archie
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Post by archie on Oct 9, 2017 9:56:22 GMT
I'm not selling. That's probably a good enough reason why everyone else should.
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Post by westcountry on Oct 9, 2017 10:00:35 GMT
I suspect why the loans are still in panic sell mode, is that MT haven't provided an update (barring the "there will be an update soon" updates) since the update which sparked the panic selling. If they posted an update setting out what was happening with the loan, a lot of the sales queue would probably disappear quickly. Back in the day when banks still had managers I was told that "no news is bad news". I suspect you're right n, I remember MT going quiet on the Bolton student dev loans before they were refinanced with COL, and MT also went quiet on another loan that was repaid about the same time. MT going quiet on a loan does seem to be a harbinger of bad news :-(
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n
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Post by n on Oct 9, 2017 10:46:26 GMT
Back in the day when banks still had managers I was told that "no news is bad news". I suspect you're right n , I remember MT going quiet on the Bolton student dev loans before they were refinanced with COL, and MT also went quiet on another loan that was repaid about the same time. MT going quiet on a loan does seem to be a harbinger of bad news :-( That said it is probably better to keep silent if good news is within grasping distance.
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copacetic
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Post by copacetic on Oct 9, 2017 13:36:04 GMT
Since there is no negative consequence of listing on the SM (ie. loss of interest or sales fee), any uncertainty at all likely encourages people to divest themselves of their holding. Seeing 50k of a loan on the SM then causes more people to panic and list their parts too. I suspect there are plenty of people (like me) who have speculatively listed their part for sale just 'in case' so they aren't stuck at the back of a large queue if some more negative news comes along. If the next update is positive though then the queue could disappear as fast as the FPAA664 panic listing last week.
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spiral
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Post by spiral on Oct 9, 2017 15:40:57 GMT
I remember MT going quiet on the Bolton student dev loans before they were refinanced with COL, and MT also went quiet on another loan that was repaid about the same time. MT going quiet on a loan does seem to be a harbinger of bad news :-( If you see loans repaying as bad news, what do you see as good news.
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Post by westcountry on Oct 10, 2017 10:28:23 GMT
I remember MT going quiet on the Bolton student dev loans before they were refinanced with COL, and MT also went quiet on another loan that was repaid about the same time. MT going quiet on a loan does seem to be a harbinger of bad news :-( If you see loans repaying as bad news, what do you see as good news. It wasn't that the loan repaid that was the bad news, it was how it happened. A few months before the loan repaid someone posted some photos of the site showing that no work had been done since the loan was started, and MT never commented on this or any of the other questions - they simply maintained radio silence until announcing that the loan was repaying (still without addressing any of the previous questions). So even though there was a good outcome in this case, MT's lack of news/updates wasn't very encouraging :-(
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m2btj
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Post by m2btj on Oct 10, 2017 14:10:59 GMT
Sandbanks has some of the world's most expensive real estate & I believe it presents sound loan security. I have no doubt that this loan will complete within the extension period. I have more confidence in this loan than in the council planning official who is always sick or on holiday...how I wish I chose a career in local government!
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m2btj
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Post by m2btj on Oct 11, 2017 7:55:54 GMT
Sandbanks has some of the world's most expensive real estate & I believe it presents sound loan security. I have no doubt that this loan will complete within the extension period. I have more confidence in this loan than in the council planning official who is always sick or on holiday...how I wish I chose a career in local government! There is no extension period. Moneything have arbitrarily moved this to completed loans without any outstanding interest or capital repayment being made. Even the supposed partial repayment is now late. Irrespective of a loan's security, this is not how lender funds should be managed. A more robust approach should have been taken when MT knew the loan would not complete on time. Partial repayment has been made this morning.
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