ashtondav
Member of DD Central
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Post by ashtondav on May 8, 2018 12:34:55 GMT
just received this in my email. Lots of stats - oh, except defaults and recovery stats of course.
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pier2pier
Member of DD Central
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Post by pier2pier on May 8, 2018 12:43:35 GMT
under first graph - blue letters - statistics page has info
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Monetus
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Post by Monetus on May 8, 2018 13:04:22 GMT
I'm sure fundingsecure are thoroughly patting themselves on the back for pumping out £10 million worth of new loans in April. If only they could be bothered to put as much effort into updating existing loans, chasing down defaults and properly managing the ever-growing overdue loan book for the existing investors who've trusted them with their hard-earned money. |
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rogerthat
Member of DD Central
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Post by rogerthat on May 8, 2018 13:11:15 GMT
just received this in my email. Lots of stats - oh, except defaults and recovery stats of course. Your mail must be slow as I got mine Monday evening. Have to say though that I nearly responded by return via feedback based on the fact that defaults and way overdue loans didn't warrant even a cursory word nor signal any intent, as agents on our behalf, to assure us lenders that strenuous efforts to reduce the mounting tide of debt is a priority, almost as if its of little or no concern. To blather on about how busy they have been or are likely to be in the foreseeable future means diddlysquat to those lenders who find themselves with a ever increasing loan book of debt due in no small part to FS allowing borrowers to blatantly ignore the T & C's once their loan has been advanced. To then compound that debt by advancing further funds seems irresponsible at best and suicidal at worst. But then whose money is it ? Any lending has risk, we all accept that but when that risk is exacerbated by poor or inadequate management then the outcome is manifestly obvious.
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adrian77
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Post by adrian77 on May 8, 2018 13:33:45 GMT
Turnover is vanity - profit is sanity - cash is reality.
What concerns me is that although at the moment I am making a good return is the large and growing number of defaults. Clearly anything over 5% of defaults has a very nasty effect on the bottom line. Thus I am reducing my loan book to either realistic property loans or stables such as Rolex watches etc. As my loanbook winds down it will be very interesting to see what actually happens to my return as the percentage number of defaulted and overdue loans increases - I suspect a very large fall which will turn negative once the overdue loans start to turn into defaults.
Thus I am very concerned that FS are painting a very rosy picture which, in the medium and long term, may not be justified
Z*pa started very well for and are now absolutely dreadful so I am not risking a repeat with FS...
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