james21
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Post by james21 on Jul 31, 2018 18:24:06 GMT
Looks to me like this platform has the highest ratio of defaulted loans v live loans
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mary
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Post by mary on Jul 31, 2018 18:38:12 GMT
Looks to me like this platform has the highest ratio of defaulted loans v live loans You've obviously not checked out Lendy. Lendy do not actually call them Defaults, ie there are Zero, but if you add up Non-Performing (not paying interest), anything Live but overdue (not paying interest), and Claims Underway (asset sold at a loss, but no PF payment or Capital Loss declared, and obviously no interest being paid), then it's ~50%. At least MT own up and have been fairly pro-active to get back on top of the situation.
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justme
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Post by justme on Jul 31, 2018 19:49:00 GMT
wow how can anybody make money by lending on Lendy then? If nobody can then how does it still exist?
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Post by funkymonkey on Jul 31, 2018 19:53:35 GMT
By my math it's 5.74% of live loans which are in default. How do other platforms compare, I would guess FC is much higher?
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justme
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Post by justme on Jul 31, 2018 21:18:58 GMT
Does your math consider different tranches of the same loans/to the same borrower as different ones ?
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rocky1
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Post by rocky1 on Aug 1, 2018 5:16:20 GMT
Looks to me like this platform has the highest ratio of defaulted loans v live loans You've obviously not checked out Lendy. Lendy do not actually call them Defaults, ie there are Zero, but if you add up Non-Performing (not paying interest), anything Live but overdue (not paying interest), and Claims Underway (asset sold at a loss, but no PF payment or Capital Loss declared, and obviously no interest being paid), then it's ~50%. At least MT own up and have been fairly pro-active to get back on top of the situation. lendy are miles out in front with over £50 million of lenders money lost in space somewhere.lendy truly are the market leaders in spin.
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Post by charliebrown on Aug 6, 2018 12:14:12 GMT
wow how can anybody make money by lending on Lendy then? If nobody can then how does it still exist? 2 excellent questions. Reported interest rates from forum members are extremely poor and the chances of capital losses are high. Lendy doesn’t think it’s a problem and have chastised lenders for not lending enough and not lending quickly.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 6, 2018 12:33:36 GMT
"..... and have chastised lenders for not lending enough and not lending quickly" "Well they would, wouldn't they!!!"  charliebrown[ Reference the delectable Ms Rice-Davies, for those who remember who she!  ] |
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Post by marcusponds on Aug 6, 2018 15:51:06 GMT
Sorry but it doest really help whether MT are first or second in the ignominious league table. When I joined less than 2 years ago they advertised no losses to date ( followed by the obligatory caveat of course). In the intervening time things seems to have spiralled out of control. So many are still in recovery that I fail to see how we can yet judge their success rate in dealing with these defaults.
EDIT: Due to loans in default i am currently earning (as in, receiving monthly) around 7% interest from MT.
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averageguy
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Post by averageguy on Aug 6, 2018 18:30:47 GMT
Sorry but it doest really help whether MT are first or second in the ignominious league table. When I joined less than 2 years ago they advertised no losses to date ( followed by the obligatory caveat of course). In the intervening time things seems to have spiralled out of control. So many are still in recovery that I fail to see how we can yet judge their success rate in dealing with these defaults. EDIT: Due to loans in default i am currently earning (as in, receiving monthly) around 7% interest from MT. But then those league tables are but a guide...for my own situation in MT its not 'spiralling out of control''
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keystone
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Post by keystone on Aug 7, 2018 0:31:52 GMT
Sorry but it doest really help whether MT are first or second in the ignominious league table. When I joined less than 2 years ago they advertised no losses to date ( followed by the obligatory caveat of course). In the intervening time things seems to have spiralled out of control. So many are still in recovery that I fail to see how we can yet judge their success rate in dealing with these defaults. EDIT: Due to loans in default i am currently earning (as in, receiving monthly) around 7% interest from MT. But then those league tables are but a guide...for my own situation in MT its not 'spiralling out of control'' I don't think you are typically "average", this time last year I had zero defaults with MT, now I have a string of them. Now to be fair defaults are to be expected, but the ever deafening silence from MT is really getting worrying.
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justme
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Post by justme on Aug 7, 2018 4:25:00 GMT
A third if my total funds on MT are in defaulted loans.
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Post by Deleted on Aug 7, 2018 6:58:28 GMT
For me I believe MT are extremely conservative in their definition of "default" which is far tighter than other portals. Comparing numbers when the definitions vary is normally termed comparing apples with oranges. I suspect that is what we have here.
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Post by Badly Drawn Stickman on Aug 7, 2018 7:54:17 GMT
For me I believe MT are extremely conservative in their definition of "default" which is far tighter than other portals. Comparing numbers when the definitions vary is normally termed comparing apples with oranges. I suspect that is what we have here. I would be inclined to agree, the real test is if any of the apples or oranges are lemons in disguise. (Very fond of fruit based discussions)
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archie
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Post by archie on Aug 7, 2018 7:59:33 GMT
For me I believe MT are extremely conservative in their definition of "default" which is far tighter than other portals. Comparing numbers when the definitions vary is normally termed comparing apples with oranges. I suspect that is what we have here. I would be inclined to agree, the real test is if any of the apples or oranges are lemons in disguise. (Very fond of fruit based discussions) As long as we don't get 5 a day.
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