grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Sept 9, 2015 15:42:14 GMT
Have a look at 15606 A+
Innocent look accountants with 500K turnover, but they owe nearly 470K as far a i can see and have stupid levels if intangible assets. Bu they get an A+ rating , should be an "E"
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Funding Circle (FC)
15561
Sept 9, 2015 12:53:09 GMT
Post by grahamg on Sept 9, 2015 12:53:09 GMT
No idea and a probably a waste of time asking as you will just get a stock answer like below. In general the rating system is not to be trusted, lots of A+ and A loans i would not go near. Maybe its computer generated no humans involved !
Thank you for your email. We have a team of experienced underwriters, who evaluate credit risk of each business and decline the ones that pose high risk. Their decision is based on:
· Financials submitted by the borrower
· Financials purchased from several credit bureaus
· Personal guarantees / asset security
· Consumer credit profile of the company directors
· (if applicable) previous history with the borrower
Additionally, we score each borrower using our proprietary credit risk models which analyses over 3,000 different factors and recommends an ‘approve/reject’ decision as well as a risk band (A+,A,B,C, C-) for approved borrowers. We continue to maintain a conservative risk management process and our underwriters’ manual assessment of each case may uncover additional qualitative risk elements which may override the model recommendation in order to maintain the pristine creditworthiness of the book. We have a full time credit risk analyst who is constantly honing and developing our credit risk model as we grow as a business.
We do not offer a loan to any business if we do not believe they are capable of making their contractual repayments.
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Sept 4, 2015 18:03:29 GMT
I see that Faintly Credible have thrown another A+ googly and a perfect example of the rating shambles and why its going to be more of a disaster at fixed rates with more autobodge bidding, than it already is has just turned up. Loan 15511.
Farmer wants to borrow 60K but is only making 11K or less profit. Not even enough to pay the principal back. Can only go bust yet its A+ rated and the flippers have piled in no questions asked (Bazinga is in for at least £12640. 316 bids in less than one minute.). The more sensible of you for a lot less.
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Sept 3, 2015 18:08:11 GMT
Well the SM seems now devoid of discounted parts . All hoovered up or withdrawn
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 22, 2015 16:21:35 GMT
I was excluding property loans as they are much bigger but still dissappearing at speed
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 22, 2015 10:28:07 GMT
Seems like FC is awash with dosh at the moment and all loans are filling up at frightening speed , no questions asked.
Is it low loan volume or new entrants, any ideas ?
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 21, 2015 17:55:56 GMT
Seeing it is not the problem. Loan parts has no discernable sort order and new items just appear somewhere in the list
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 19, 2015 22:32:35 GMT
Not sure what the difference between these and the "A+" loans are:
Are they the one's where the builder run out of bricks?
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 19, 2015 10:28:25 GMT
Hi
As a newbee to FC
How does anyone manage to create and maintain a decent loan spreadsheet with additional info given the inmited info on the export sheets, am i missing something?
"Loans" seems to be sorted alphabetically , but I can't figure out what the sort order is for "loan parts" and new items just appear randomly in the list.
You can't even sort on loan number as that's in the text field with the description. So there is no way to easily find and add new loans to a spreadsheet.
Oh and don't even talk about monitoring exposure as the company names are not included or even in the loanbook.
Seems FC IT skills are minimal with regard to what investors need !
|
|
grahamg
Member of DD Central
Posts: 220
Likes: 62
|
Post by grahamg on Aug 17, 2015 18:02:15 GMT
Hi I am new to Funding circle so am slowly working myself into the forums. Having seen this post i made a quick analysis of when to sell based on the defaults in the current loanbook. Have attached a graph. it plots percentage risk adjusted for sale volume against default after X payments. Risk of default seems to rise sharply after 4 payment and settles down again after 22 payments . Not sure how valid this is. Attachments:
|
|