markdirac
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Post by markdirac on Feb 27, 2015 11:19:57 GMT
Yes Mr. planetx, I agree. I am far more interested in the borrowers who do not pay on time, than in those who do. It is as though ReBS are not interested in late payments (and Ladywhitenap elsewhere on this forum has suggested a reason for that, namely that ReBS earn high interest for those days when payments are late).
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markdirac
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Post by markdirac on Jan 13, 2015 15:32:24 GMT
I can understand people feeling frustrated with ReBS and/or the borrower, but this situation is likely to be the fault of the banks alone, with nothing that ReBS can do about it.
The process of arranging a 2nd charge is complicated as well as time-consuming (money), and at some point incurs fees from lawyers. ReBS and the borrower cannot be sure the process with complete - until it does. I have come across situations where the banks have committed in writing to support a 2nd charge, and then, once the legals have been initiated, the bank has said "Err, nah, we've changed our mind". And it's no good trying to sue the bank or "demand" compensation in this situation.
So I reckon that if one is bidding in an auction where a 2nd charge is involved, one should bear in mind the loan process may not complete. I reckon bonds etc. will not help.
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markdirac
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Post by markdirac on Oct 15, 2014 9:54:26 GMT
Playing games with lender
Looks a good opportunity for lenders and borrower and I would like to buy some loan units. But I am surprised that no questions were asked (pre loan completion) about the very questionable behaviour of the previous accountant. He contrived to extort (legally of course) benefits from Santander by playing games with the loan repayments. This guy was a member of the senior management team. Surely the hospital-bound director would have known - or would have been told - that such serious machinations were being undertaken on his behalf? It is beyond credible that the accountant would have taken these activities on himself without any discussion with other managers or with relatives of the director.
I am left wondering if there might be a culture in this business whereby managers might be tempted to play games with AC lenders over the next 36 months.
I wonder if anyone can suggest please (a) why this issue was not discussed in the Q&A and (b) if there might be any mitigating circumstances (eg. bad behaviour on the part of Santander, of which we have heard tales in the past) to justify these actions?
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markdirac
Member of DD Central
Posts: 128
Likes: 51
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Post by markdirac on Sept 1, 2014 12:42:57 GMT
I hope you don't leave Mr. twadgerbadger2 - you present a refreshingly different perspective on the issues we discuss here.
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