elliotn
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Post by elliotn on Jul 22, 2018 6:57:58 GMT
Stage 1 we price to credit risk, worrying about the businesses cashflow position and security in a default. Stage 2 we price to liquidity given a SM where demand easily outstrips supply. Stage 3 the defaults roll in, the SM goes illiquid. We can’t price to anything. We lose money. We develop conspiracy theories that allow us to shift the blame to someone else. And the (P2P) world keeps turning ... Seems Abl is at stage 2. So how many months/years to stage 3? A good result for the amortised anaerobic digesters, B&W being taken off the books, the grounded plane being redeemed and nearly all the loans without security registered to abl being repaid, just the singular nature of the container loans to deal with. The abl empire may rise and fall with that of Axxxxs and its web of associated director loans (their shared p2p platform looks too small for that at the moment).
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elliotn
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Post by elliotn on Jul 22, 2018 6:52:08 GMT
a profitable West End hair saloon owned by a celebrity stylist The very last person that I am going to lend my money to A cutting remark. If I may be so bald - do you mean as an individual or his business? Not gone over it with a fine-tooth comb yet but the head-line results suggest plenty of bounce to his bottom line and a quick visit to trim my cash balance may be the order of the day. Edit - although slightly hair raising the Confirmation Statement was overdue when listed.
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elliotn
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Post by elliotn on Jul 22, 2018 6:35:54 GMT
No detailed security description on the loan page. Sometimes borrowers answer Qs but you”d need address for land registry and the most available will be the company’s registered address on Companies House where you’ll also see any charges to Edinburgh Alternative Finance, typically a debenture so look for other charges that may have priority to assess your risk levels.
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elliotn
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Post by elliotn on Jul 21, 2018 16:26:41 GMT
Its an interesting point and its not Abl fault that their loans are popular but the last few posts were something i was thinking about earlier as in comparison (hopefully i can post this) C2F have a loan from yesterday which i have not looked into that close but on paper it is for a profitable West End hair saloon owned by a celebrity stylist and is offering 11%.While that may not mean much after looking deeper into the details - it has still only raised under 20% of its modest target after a day for a business that seems to have proved its self This is one loan where I hope there is a haircut. And many of them.
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elliotn
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Post by elliotn on Jul 21, 2018 14:53:50 GMT
They seem to be trying to occupy some of the space vacated by FC, when it removed self-select. At a first glance, the projected returns, say 2% above FC, would not be worth the increased platform risk, reduced liquidity, and the effort involved. But I wish them well. Self-select, steady loan flow (for July anyway!) and variable SM - quite a lot of effort to catch up on the profitable co’s (including one marathon 6.30 am sesh!) and PM at 10% TC loan part value allowing more diversification. Oh, and half a day for the 1st rec today (variable SMs always cause me bother; except for abl once they included the variable element in the download which quite simply changed my life 😁). LC also has plenty of profitable co’s from 20 quid a pop. Has filled the time in the Summer drought anyway 😊 .
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elliotn
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Post by elliotn on Jul 19, 2018 16:03:03 GMT
There’s a clear fraud here by the borrower. Where the heck did the timber frame go? FS blithering incompetence facilitated the fraud but I don’t think that’s a criminal offense, if it were all of Lendy would be in the nick by now. is this the first known 100% loss in p2p, or has there been other total wipeout loans? I’ve got some money in this one myself but it’s less than 500 quid so not my biggest worry by any means. For property loan may be, but not for p2p SME lending. And it’s not 100% loss, it can be re-auctioned and the corporate veil lifted to pursue the borrower’s shareholder directly. Edit - what’s largest turbine loss?
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elliotn
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Post by elliotn on Jul 19, 2018 4:08:07 GMT
i am told the errors have been fixed..please let us know if you get any errors from this point onwards..again.. sorry for this.. Worked like a dream at c1am BST
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elliotn
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Post by elliotn on Jul 18, 2018 17:09:42 GMT
... Whether it is really worthwhile for a 66% LTV loan is a mute point. The description "a residential development close to completion with most flats presold and substantial deposits taken" tends to imply this is a relatively low risk opportunity even before the 66% LTV and 5% first loss are taken into account. 13% seems over priced even on an effective second charge basis, so I would expect the B tranche to disappear quickly. The question is the extent to which 10% will drive take up of the A tranche vs 11% for a single tranche. Close to completion implies weather tight, so the chances of major slippage to completeion timescales should be minimal. In that context Tranche B does not sound as risky as some of its junior counterparts on other platforms.
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elliotn
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Post by elliotn on Jul 18, 2018 16:59:32 GMT
Three new loans in this week so far, but the luton one which is of 11% filled up quicker. Why is that so? Because the LsA loan is a bit pants.
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elliotn
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Post by elliotn on Jul 18, 2018 12:19:19 GMT
Or an alert notification as being put in place for new admin/docs updates?
Edit - with an option for all or invested only loans.
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elliotn
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Post by elliotn on Jul 17, 2018 16:07:36 GMT
dont forget from long ago updates lendy and this borrower are good buddies.as with many other loans we the lowly lenders do not know what deals are being made behind closed doors. you can guarantee though that they will not be in our best interests Post the links between the borrower and Ly on DDC for benefit of other lenders.
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elliotn
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Post by elliotn on Jul 17, 2018 15:44:31 GMT
how can we believe anything that lendy put out. greed and self praise are their motivation and borrowers are well aware of once lendy get their fees they do not give a sh*t about lenders monies. That would be a strange way to run a business, missing out on exit fees and fees from writing future business for a start. They’ve invested heavily in compliance and recovery, do you think they did that just to waste their profits?
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elliotn
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Post by elliotn on Jul 17, 2018 10:58:02 GMT
Hi ablrate, given the recent successful repayments and encroachment into family time with the launch time (and possible neglection of overseas investors - no-one will ever be completely happy!), could you please confirm what the 24hr bid limits will be, many thanks 😊
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elliotn
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Post by elliotn on Jul 16, 2018 13:48:23 GMT
New borrower 😊
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elliotn
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Post by elliotn on Jul 16, 2018 2:59:46 GMT
There are plenty of suggestions across the threads for @lendycrowd to make but I didn’t see a dedicated thread.
Per title this is intended more for online functionality as with other boards, a couple from me as a newbie:
- ability to sell fractional loan parts
- indication re SM queue position (or is the weighting truly random?)
- full loan book details of individual loans available online ie Live, Paid, In Arrears, Loss (the downloadable loan book is useful for analysis but doesn’t give the info for what I may want to buy or clues to avoid)
- enhanced borrower participation in Q&A (not sure how that is possible in terms of functionality but something the platform should be strongly supporting procedurally)
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