littonowl
Member of DD Central
Posts: 398
Likes: 355
|
Post by littonowl on Jan 12, 2018 10:36:36 GMT
The same old (borrower) faces keep cropping up with depressing regularity on various platforms. Disillusioned with both Coll and P2P in general at the moment...
|
|
oik
Member of DD Central
Posts: 254
Likes: 349
|
Post by oik on Jan 12, 2018 16:09:03 GMT
The same old (borrower) faces keep cropping up with depressing regularity on various platforms. As long as lenders are content handing their money to borrowers with histories of insolvency, mysterious events, and defaults on other platforms, they'll keep cropping up. Most of what is known now was already known when the borrower's defaulted Pl*****h loan was offered on MT; see the MT thread. (I wonder whether we'll see the borrower from MT's Ly***m default here any time soon?)
|
|
TFTO
Member of DD Central
Posts: 143
Likes: 71
|
Post by TFTO on Jan 12, 2018 16:52:16 GMT
The same old (borrower) faces keep cropping up with depressing regularity on various platforms. Disillusioned with both Coll and P2P in general at the moment... Same here, interesting loans seem to have totally disappeared, all we get is one development after another and all with dodgy VRs.
|
|
michaelc
Member of DD Central
Posts: 4,788
Likes: 2,735
|
Post by michaelc on Jan 12, 2018 17:18:43 GMT
I'm not in the MT loan that this borrower has "technically defaulted" on but I think the situation with that loan is better than read of this thread would suggest.
In general, I'm comfortable with the idea that many development loans overrun.
That said, I don't understand why regulation hasn't forced the platforms to divulge what they reasonably know about a borrower. Any other loans he has is highly relevant as is his track record. An existing loan that is in default ("technical" or otherwise) should really not be hidden.
Anyone else out there interested in starting a new platform that puts lenders interests above all else?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Jan 12, 2018 22:14:57 GMT
This sounds like a Lendy loan, where
"The borrower doesn't matter as long as there is security!"
We all know how that worked out for them...
|
|
|
Post by Badly Drawn Stickman on Jan 12, 2018 22:25:33 GMT
This sounds like a Lendy loan, where "The borrower doesn't matter as long as there is security!" We all know how that worked out for them... Despite the VR reading like it had been written by the borrower himself and simply signed off, I suspect even the security here is a very long way short.
|
|
sirius
Member of DD Central
Posts: 161
Likes: 141
|
Post by sirius on Jan 13, 2018 10:49:34 GMT
This sounds like a Lendy loan, where "The borrower doesn't matter as long as there is security!" We all know how that worked out for them... Despite the VR reading like it had been written by the borrower himself and simply signed off, I suspect even the security here is a very long way short. You are not such an idiot after all!!!
|
|
|
Post by dan1 on Jan 14, 2018 9:38:11 GMT
I'm not in the MT loan that this borrower has "technically defaulted" on but I think the situation with that loan is better than read of this thread would suggest. In general, I'm comfortable with the idea that many development loans overrun. That said, I don't understand why regulation hasn't forced the platforms to divulge what they reasonably know about a borrower. Any other loans he has is highly relevant as is his track record. An existing loan that is in default ("technical" or otherwise) should really not be hidden. Anyone else out there interested in starting a new platform that puts lenders interests above all else?/Mod hat on The later posts discussing a lenders platform and BC have been moved to General ( link). Feel free to suggest a better thread title ( sirius you can edit the first post yourself to change the title if you wish).
|
|
|
Post by Collateral Rep on Jan 18, 2018 10:54:19 GMT
Morning,
Re: BL00081 - O****** H***, R*****
After discussions with the borrower, we have decided to withdraw the offer of funding on O****** H***. We will revisit this once the borrower is in a better position with his loans with other lenders.
Apologies for any inconvenience this may cause.
Many thanks,
Gordon
|
|