blueninja
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Post by blueninja on Dec 31, 2020 12:03:18 GMT
Quote from the email:
"I understand you might be frustrated by the lack of action information"
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blueninja
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Post by blueninja on Feb 25, 2020 20:43:21 GMT
Even though I have bother A & B loans, I've added my pledge as I want to see justice done!!!
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blueninja
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Post by blueninja on Nov 29, 2019 18:49:03 GMT
Is there anywhere a simple list of which loans are model 1 and which model 2? Or does it depend on when you bought the loan part? Model 1 loans are DFL001, PBL027, PBL031 & PBL056. I thought DFL002 was model 1 loan. DFL001 and DFL002 are both to the same borrower and taken out about the same time if my memory servers me correctly.
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blueninja
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Post by blueninja on Jun 12, 2018 19:50:29 GMT
That must be a first for the platform, don't recall any other loan having this. Should we expect other loans with claims underway to go the same way? I don't see that the reasons for doing this would be specific to this loan. Did anyone get a screen grab of the pulled info? Maybe something to do with different laws north of the border as there is sometimes.
At the end of the day they can do whatever they want as long as it gets me my money back.
I seem to remember the borrower is a lawyer, maybe that is a clue.
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blueninja
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Post by blueninja on Apr 9, 2018 17:13:49 GMT
How can actual photos showing the property condition be 'negative images'? It is what it is. I would think the new funder would be underwriting the loan on a new property valuation survey report rather than reading what is posted on an internet forum The new funder will be assured of the asset value as he will be relying solely on a professional RICS valuation.
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blueninja
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Post by blueninja on Apr 4, 2018 14:56:28 GMT
ok I see what you mean. I little extra work by the poster is needed to maintain confidentiality. Also gives the reader a little more work, but as long as there is no loss of transparency I am happy. :-) As further comfort, the latest Support entry Answers to questions regarding changes to T&C’s contains the following..... Clause 5. is also quite relevant too.
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blueninja
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Post by blueninja on Apr 4, 2018 14:44:05 GMT
It certainly needs clarifying with MT. Are we allowed to discuss loans as long as lenders names not revealed as currently happens on the public forums? What about on private forums (eg DD Central). It hard not to share DD without revealing info that identifies the borrower. Have to disagree there. If you're a MT investor you have access the borrower's identity. Example: rather than a direct link to a borrower's Company House entry being made available, instructing someone to google "https://beta.companieshouse.gov.uk/" and enter "borrowers name" will produce the same results. The borrowers identity is not revealed in the post, but if you know it you'll be able to access all the information at CH. If you didn't know their identity to start with, you're none the wiser. ok I see what you mean. I little extra work by the poster is needed to maintain confidentiality. Also gives the reader a little more work, but as long as there is no loss of transparency I am happy. :-)
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blueninja
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Post by blueninja on Apr 4, 2018 13:25:20 GMT
The confidentiality clause is the nail in the coffin for me. What dark secrets do MT want to hide about their borrowers? Being able find info on these forum's about the borrow's background and the asset borrowed against is great DD. What information do MoneyThing want their investors to rely on when deciding whether to invest in a loan? There are things that Moneything's DD miss. Crowd sourced DD is an absolute must. Given the highlighted section of the clause, I'm interested in how you believe the current level of posted information and discussion will be negatively impacted, unless the platform choses to withhold the borrower's name of course. It certainly needs clarifying with MT. Are we allowed to discuss loans as long as lenders names not revealed as currently happens on the public forums? What about on private forums (eg DD Central). It hard not to share DD without revealing info that identifies the borrower.
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blueninja
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Post by blueninja on Apr 4, 2018 12:41:53 GMT
There will likely be lots of changes in the new T&C's, but the new section on Confidentiality is note worthy For comparison the clauses relating to confidentiality on other platforms are summarised in this thread on the General Discussion board. The confidentiality clause is the nail in the coffin for me. What dark secrets do MT want to hide about their borrowers? Being able find info on these forum's about the borrow's background and the asset borrowed against is great DD. What information do MoneyThing want their investors to rely on when deciding whether to invest in a loan? There are things that Moneything's DD miss. Crowd sourced DD is an absolute must.
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blueninja
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Post by blueninja on Mar 30, 2018 11:03:54 GMT
Recent update suggests progress. A new lender will take over the first charge and capital will get repaid (possibly without the outstanding interest and bonus). Update: ' In the event that this does not take place, the intended agreement will ensure that the property is listed on the market for sale and Lendy will have sudo control of this'. sudo -> unix/linux for ' superuser do' where temporary superuser administrator privileges are assumed to perform an action. I think they meant 'pseudo' control. I guess the programmers are now doing the updates as well as beta testing the platform and taking over the asylum.... Anyway, I read the post as positive that capital (hopefully 100%) will be returned and the second charge loan will be extended. Yes updates obviously written by a techie :-)
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blueninja
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Lendy (L) in Administration
MONTHLY BS
Feb 23, 2018 18:47:38 GMT
Post by blueninja on Feb 23, 2018 18:47:38 GMT
Hi SteveT , yes, that's correct. Our current default rate is 10.2% on overall loan book, inc. repayments, and 19.1% on the live book. Best, Paul Typical smoke and mirrors. Forget loans from years ago, here we are today in the here and now. Whilst you're here can we have a clear and concise update on DFL 5 ? Out of interest, in the 10% calculation, are you counting the garden centre and other 2 defaulted loans that resulted in a loss as repaid or defaulted ? I think it would be hard to count the garden centre as defaulted when as I remember all investors got their money back (and interest too?)
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blueninja
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Post by blueninja on Feb 23, 2018 16:28:40 GMT
collateral Collateral Rep could you add the description/address to your emails updates (here it might need asterisk), the codes alone are not always easiest to distinguish, thanks I concur, its not easy to workout whats what just looking at the numbers, especially as many loans are broken down into an array of smaller loans.
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blueninja
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Post by blueninja on Feb 9, 2018 15:02:30 GMT
I only hope Col is reading this about bots being used at the expense of ordinary lenders. They seem, however, to be in denial and perhaps turn a blind eye to this behaviour understanding that the overall bid target is achieved. I have given up bothering with these renewals – effort/reward ratio is skewed. Yes, when you think about it, £25 allocation say for six months gives interest of £1.50
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blueninja
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Post by blueninja on Feb 5, 2018 20:18:42 GMT
I can't speak for Collateral, but In my experience: COL will continue to expect the deposit (and only that specific amount) that you notified them of. If it was done very recently I'd place a second deposit request for the amount you actually sent, which should get picked up and credited. The unsatisfied deposit request will likley get cancelled eventually, although I'd contact support to ensure it's handled cleanly. If you do nothing I'd expect them to contact you or just return the payment - I'm sure they'd prefer you get in touch before this. spot on jontyab a subsequent deposit entry for the correct amount solved the problem.
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blueninja
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Post by blueninja on Feb 5, 2018 13:50:26 GMT
Hi Collateral Rep, What happens if I make a deposit via the Collateral website and the amount does not match up exactly with the amount I transfer from my bank account, will the money ever be credited or will I need to contact support to fix it?
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