locutus
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Post by locutus on Jul 27, 2015 15:43:45 GMT
What's the official LTV on this? Looks a bit steep based on numbers provided.
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locutus
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Post by locutus on Jul 25, 2015 11:00:07 GMT
Thank you for sharing your observations.I have found that quoted percentage figure. Also, noted the following figures as well; Current Bad debt = £6,248,867 Anticipated Claims = £10,237,357 Provision Fund = £15,279,087 [blr] Hi, yes so to put it in context, the bad debt as a % of repayments should drive the anticipated claims (I.e. What % of money do they not expect to be repaid based on current trends). Therefore at 2.05 the ratio of provision fund to expected bad debt is approx 1.49. As this rises this ratio goes down, once it goes over 3 the provision fund will not have enough money in it to pay the expected claims. As the 2.05 rate keeps rising at approx 0.02 a week based on current trajectory we will be there mid 2016. Clearly trajectories can change but the trend has been consistent and has gone on for approx a year. I will upload charts Monday but on my computer at work. We are told that even then there would be no haircuts, but this makes no sense to me as it would mean that all the provision funds will get used on shortly maturing loans, leaving long term loan holders with less protection. Hence why I am comfortable to keep money in but am drawing down as having loans that won't repay for 5 years is too risky until I see the trend ending. Up to everybody to make their own assessment but that's how I call it! Can you start a new thread to track bad debt. The charts showing trend will be useful. It is an important discussion and I think it deserves its own thread.
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locutus
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Lendy (L) in Administration
PBL46
Jul 24, 2015 8:34:10 GMT
Post by locutus on Jul 24, 2015 8:34:10 GMT
The pipeline has proven to be very inaccurate. Most of the recent loans have not appeared in the pipeline. They should probably just get rid of it and keep the focus on bringing new deals to market.
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locutus
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Post by locutus on Jul 23, 2015 13:31:36 GMT
If no underwriter is in place for the ATR, why don't you open it back up so lenders can invest? There are no other loans on offer so I'm sure there will be appetite and each additional investment you get from private lenders will reduce the amount that an underwriter has to finance.
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locutus
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Post by locutus on Jul 23, 2015 7:21:45 GMT
The excessive fees are one thing but what happens to the difference in interest rate that the borrower is paying?
e.g. If someone funds a 5 year loan at 6.5% and decides to sell out at year 2, then the new lender is only financing a 3 year loan but at 5 year rates. At rates today, the 3 year is around 5%. What happens to the remaining 1.5% or is it placed back on the 3 year market at 6.5%?
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locutus
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Post by locutus on Jul 22, 2015 9:25:17 GMT
Things like this actually increase my confidence in Saving Stream.
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locutus
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Post by locutus on Jul 21, 2015 21:06:21 GMT
Agreed with the comments. Where are all the planes that we can finance?
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locutus
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Post by locutus on Jul 20, 2015 14:46:16 GMT
Proplend - I don't what your developers are telling you but that is not the case. When I signed up with a test account and clicked the email confirmation, I was shown my password on the success screen as a reminder. This should not be possible. Passwords should be hashed and should only be known by the end user i.e. not stored in your database.
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locutus
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Post by locutus on Jul 20, 2015 9:05:11 GMT
Why are you launching in 2 further jurisdictions when you have not made a success of the first one? This is running before you can walk. I want Ablrate to succeed and also have funds waiting but I am in agreement with the criticisms voiced so far.
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locutus
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Post by locutus on Jul 16, 2015 12:56:44 GMT
I agree arbster. In fact, given the sums of money involved, I think it is time for Lendy to up their game in a few areas. We are still waiting for the Trust change and a new, more professional looking website was promised a while ago.
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locutus
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Post by locutus on Jul 10, 2015 7:05:49 GMT
Why are they fiddling with the existing site? I thought they were due to launch brand new platform to replace it.
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locutus
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Post by locutus on Jul 9, 2015 8:33:34 GMT
I don't know if Proplend people still browse the forum but if you do, please let your devs know that they should not be storing passwords as plain text.
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locutus
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Post by locutus on Jul 7, 2015 11:51:27 GMT
Just received word that these guys are about to have a new share offer.
www.p2pgi.com/
Seems like more institutional money headed our way.
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locutus
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Post by locutus on Jul 2, 2015 10:21:12 GMT
All, I feel an update is due. Kev and I have been discussing the issue privately through the messaging system on the forum. Kev - I appreciate your help and the time you have spent on this to date.
It has now been confirmed that at least one instance of an offer at 6% was indeed matched before my own offer at 5.9%. This particular example is for a small amount but I have noticed this behaviour in the past but never bothered to investigate.
I would be surprised if I was the only customer affected by this. To me, this indicates a fundamental flaw in the matching algorithm and does not result in a fair market.
I have escalated the issue with RS customer services and when I hear back, I will provide a response here.
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locutus
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Post by locutus on Jul 1, 2015 10:53:17 GMT
All paid now and as predicted on here.
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