kielbasa
Member of DD Central
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Post by kielbasa on Aug 10, 2018 13:36:33 GMT
It appears the new "compliance manager", or whatever their title actually is, might not be quite as lax as the old staff - from a recent property update "The client has been informed that if payment is not received, the loan will be defaulted. We are conscious that this loan is 34 days overdue and are taking a dim view of this situation." - and no, there aren't any zeros missing on the lateness. Paul. I noticed that as well. Hopefully this is a sign of a tougher stance with delinquent borrowers. However, given the fairly low LTV on this one, it did cross my mind that FS might default the ones where they know they will get 100% back on and still kick the other cans down the road. Let's hope not.
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Post by df on Aug 10, 2018 16:22:12 GMT
Where FS has a truly awful reputation but seemingly doesn’t care and are spending all their efforts on originating new loans and very little effort or emotion on any type of recovery action my conclusion would be that the owner’s plans are short term not long term. I didn't notice many new loans in the past 6 months or so. They are mainly renewals, new tranches of the same loans and supplemental loans. I guess they have to keep feeding those because lack of funding will result in collapse of the projects. Similar to Lendy - they have to deal with decisions made in the past in hope that one day the work will be completed and assets sold without engaging in recovery process.
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jj
Member of DD Central
Jolly Jammy
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Post by jj on Aug 10, 2018 17:56:57 GMT
It appears the new "compliance manager", or whatever their title actually is, might not be quite as lax as the old staff - from a recent property update "The client has been informed that if payment is not received, the loan will be defaulted. We are conscious that this loan is 34 days overdue and are taking a dim view of this situation." - and no, there aren't any zeros missing on the lateness. Paul. A warning shot from above perhaps. The FOS/FCA must have a few complaints from lenders by now.
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kielbasa
Member of DD Central
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Post by kielbasa on Aug 10, 2018 18:27:22 GMT
Plymouth Hotel and other loans repaid today. Small uptick in the confidence index.
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Imothep
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Post by Imothep on Aug 10, 2018 19:48:31 GMT
Maybe nothing to do with lack of confidence from in the main a few regs on here , purely down to lack of liquidity ? as soon as a few repaid today a load have funded and cleared for activation ?
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aligibbs
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Post by aligibbs on Aug 10, 2018 20:16:52 GMT
Plymouth Hotel and other loans repaid today. Small uptick in the confidence index. Indeed, had 3 repayments today- first in over a week.
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Post by df on Aug 10, 2018 20:26:04 GMT
Maybe nothing to do with lack of confidence from in the main a few regs on here , purely down to lack of liquidity ? as soon as a few repaid today a load have funded and cleared for activation ? I think lack of confidence is largely a result of lack of repayments. All comes down to repayments. Just to add to your point, because something got repaid I've sold three loans today, which is very rare these days on FS. 
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Imothep
Member of DD Central
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Post by Imothep on Aug 10, 2018 20:43:46 GMT
Maybe nothing to do with lack of confidence from in the main a few regs on here , purely down to lack of liquidity ? as soon as a few repaid today a load have funded and cleared for activation ? I think lack of confidence is largely a result of lack of repayments. All comes down to repayments. Just to add to your point, because something got repaid I've sold three loans today, which is very rare these days on FS. so today is a good day 
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Post by boudicca on Aug 10, 2018 21:51:58 GMT
Also noticed quite a bit of buying on the main market and the secondary market.
I think the approx £1.6m repaid today helped, a good day for FS, could do with a few more days like this.
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rogerthat
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Post by rogerthat on Aug 10, 2018 22:00:29 GMT
Also noticed quite a bit of buying on the main market and the secondary market.
I think the approx £1.6m repaid today helped, a good day for FS, could do with a few more days like this.
Abergele 1st tranche is due in the next few days...£1.5m..and with 13th tranche still only 56% subscribed I think it's going to need a lot more days than this !
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Post by boudicca on Aug 10, 2018 22:07:44 GMT
Also noticed quite a bit of buying on the main market and the secondary market.
I think the approx £1.6m repaid today helped, a good day for FS, could do with a few more days like this.
Abergele 1st tranche is due in the next few days...£1.5m..and with 13th tranche still only 56% subscribed I think it's going to need a lot more days than this ! Although as it's a renewal, there will be a large repayment too.
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rogerthat
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Post by rogerthat on Aug 10, 2018 22:14:48 GMT
Abergele 1st tranche is due in the next few days...£1.5m..and with 13th tranche still only 56% subscribed I think it's going to need a lot more days like this ! Although as it's a renewal, there will be a large repayment too. Looking at the amount Ive got in it...in both IFISA & Main...I'll raise a glass to that 
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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 10, 2018 23:04:40 GMT
Maybe nothing to do with lack of confidence from in the main a few regs on here , purely down to lack of liquidity ? as soon as a few repaid today a load have funded and cleared for activation ? All comes down to repayments. Just to add to your point, because something got repaid I've sold three loans today, which is very rare these days on FS. MUCH more to it than that df.
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Aug 12, 2018 11:07:11 GMT
I am simply staggered that anyone is still investing on this platform.
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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 12, 2018 13:30:50 GMT
I heartily concur littleoldlady. Even the Loans which may appear "good" should be given a huge swerve. How many times have Lenders discovered a material fact after investing, which was a major negative? Or been given information during the Loan period which was, errrrr, economical with the truth? "Avoid" - the Trust is looooooooong gone. |
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