hendragon
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Post by hendragon on Oct 1, 2014 12:18:04 GMT
I would have thought a payment for this was due yeaterday. I have not been paid, how about anyone else? I have e-mailed ss to query this but, as yet, no reply.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 1, 2014 12:26:04 GMT
I emailed yesterday to check about all the non-live loans, which includes PBL009. They confirmed my theory that the September interest on the currently non-live loans will be paid when they are drawn-down and become live.
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Liz
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Post by Liz on Oct 1, 2014 13:22:53 GMT
I emailed yesterday to check about all the non-live loans, which includes PBL009. They confirmed my theory that the September interest on the currently non-live loans will be paid when they are drawn-down and become live. That's what happened with pbl008
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hendragon
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Post by hendragon on Oct 1, 2014 16:33:54 GMT
thanks for the info..............a reply from ss would have been nice though
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mikes1531
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Post by mikes1531 on Oct 1, 2014 17:21:05 GMT
......a reply from ss would have been nice though As would an update on the progress -- or lack thereof -- of this loan inasmuch as it's now been four weeks since this loan 'started'.
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kermie
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Post by kermie on Oct 1, 2014 19:30:07 GMT
I emailed yesterday to check about all the non-live loans, which includes PBL009. They confirmed my theory that the September interest on the currently non-live loans will be paid when they are drawn-down and become live. Ta for that; that matches my lack of Sept interest on PBL011, PBL012 and PBL013, which I assume have also yet to drawdown.
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Post by mrclondon on Oct 1, 2014 19:34:24 GMT
And to confirm the theory, the superyacht which is monthly interest (not rolled up as per normal boat loans) paid out September's interest today, as it went live today.
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ramblin rose
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“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Oct 1, 2014 21:09:23 GMT
I emailed yesterday to check about all the non-live loans, which includes PBL009. They confirmed my theory that the September interest on the currently non-live loans will be paid when they are drawn-down and become live. Ta for that; that matches my lack of Sept interest on PBL011, PBL012 and PBL013, which I assume have also yet to drawdown. Those 3 PBLs are not fully funded yet and definitely not drawn down. As they are all tranches of the same loan, with the three properties being separately treated so that the sale of one could in theory close of its own portion of the loan (at least that's what I believe is happening), I don't know whether they will draw down separately or all together when the joint paperwork and enough funding are all in place.
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mikes1531
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Post by mikes1531 on Oct 1, 2014 21:56:49 GMT
Ta for that; that matches my lack of Sept interest on PBL011, PBL012 and PBL013, which I assume have also yet to drawdown. Those 3 PBLs are not fully funded yet and definitely not drawn down. As they are all tranches of the same loan, with the three properties being separately treated so that the sale of one could in theory close of its own portion of the loan (at least that's what I believe is happening), I don't know whether they will draw down separately or all together when the joint paperwork and enough funding are all in place. Each of the Loan Particulars documents say "Loan advance date: 01/10/14". I don't know whether that was just a notional date, or whether it was a definite date for some reason. If SS continue their usual practice of giving investors a day's warning before a loan goes live and the cashback offer ends, then it would seem clear that these loans aren't going live on 1/Oct. I haven't a clue how close the borrowers/Lendy are to putting the loans into place. With boat loans, Lendy make the loans first and then offer them to SS investors afterwards. It's a bit more difficult for them to do that with PBLs, because they're so much larger, but it would be possible with the help of underwriters. So who knows? Perhaps savingstream would care to explain the situation here and the expected timing, etc.
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Investor
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Post by Investor on Oct 1, 2014 22:27:12 GMT
Last time we had a loan of that size SS were unable to fund the whole loan until they offered the "if this loan is fully funded by 6pm on Wednesday we will give everyone an extra 1% cash back". Might be due another one if they want these 3 loans fully funded, and even then I think it will be a stretch.
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mikes1531
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Post by mikes1531 on Oct 2, 2014 0:21:51 GMT
Last time we had a loan of that size SS were unable to fund the whole loan until they offered the "if this loan is fully funded by 6pm on Wednesday we will give everyone an extra 1% cash back". Might be due another one if they want these 3 loans fully funded, and even then I think it will be a stretch. I had forgotten about that offer. If I had remembered, I might have held back some of my intended investment in case an offer was made to encourage more investment into these loans. Then again, I really wasn't enticed by the previous offer because the cashback was conditional on more than just my own actions. In other words, if I responded to the offer and invested extra cash but others didn't and so the loans didn't reach the goal of being fully funded by the deadline then I would receive nothing at all for my actions. I'd rather have a smaller incentive that depended on my actions alone than a larger incentive that I might -- or might not -- get depending on what others did. That's too much like gambling. 'A bird in the hand...'
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Investor
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Post by Investor on Oct 2, 2014 9:51:35 GMT
Last time we had a loan of that size SS were unable to fund the whole loan until they offered the "if this loan is fully funded by 6pm on Wednesday we will give everyone an extra 1% cash back". Might be due another one if they want these 3 loans fully funded, and even then I think it will be a stretch. I had forgotten about that offer. If I had remembered, I might have held back some of my intended investment in case an offer was made to encourage more investment into these loans. Then again, I really wasn't enticed by the previous offer because the cashback was conditional on more than just my own actions. In other words, if I responded to the offer and invested extra cash but others didn't and so the loans didn't reach the goal of being fully funded by the deadline then I would receive nothing at all for my actions. I'd rather have a smaller incentive that depended on my actions alone than a larger incentive that I might -- or might not -- get depending on what others did. That's too much like gambling. 'A bird in the hand...' Quite right. It started a hold thread on the 'Prisoner's Dilemma' and questions regarding how early people would opt in to the offer without being sure it would reach full capacity. In that particular case it did work for SS, this would be different as there are three separate loans that need filling and could well imagine they would fill up in numerical order with the lowest outstanding filling first. Edit: If memory serves everyone got the additional cash-back, even the pre-offer investors who had originally bid at the base rate cash-back level
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hendragon
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Post by hendragon on Oct 2, 2014 11:30:29 GMT
......a reply from ss would have been nice though As would an update on the progress -- or lack thereof -- of this loan inasmuch as it's now been four weeks since this loan 'started'. after digging around the ss site a little it seems that the status of the loan(live or not) can be found under the "decsription and documents" tab of the loans listing page. It cannot be found under the live loans section of the dashboard. User friendly or what?
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