Monetus
Member of DD Central
Posts: 1,179 
Likes: 2,961
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Post by Monetus on Apr 1, 2019 8:00:58 GMT
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Post by Deleted on Apr 1, 2019 8:36:28 GMT
Who knew the internet existed?
Me sir, me!
Did P2P companies really think they would gain all the benefits of the internet but none of the downside?
See also Lendy fighting posters on Trust Pilot.
shakes head, walks away.
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m2btj
Member of DD Central
Posts: 631
Likes: 772
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Post by m2btj on Apr 1, 2019 8:42:35 GMT
I really fail to see why any investor would post anything that risks a potential recovery. If a platform provides a loan update with the caveat that the information supplied is sensitive I would never dream of sharing it publicly for all & sundry to view.
I'm extremely grateful to moderators who often delete posts before they get a chance to do any damage.
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sqh
Member of DD Central
Before P2P, savers put a guinea in a piggy bank, now they smash the banks to become guinea pigs.
Posts: 1,428
Likes: 1,212
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Post by sqh on Apr 1, 2019 8:47:47 GMT
IMO this forum is the biggest culprit. On the one hand you can't reveal a borrower's identity, but it's OK to slag off the value of property that has defaulted and is with the receivers. I raised the issued with admin last year and got nowhere. Pretty disgraceful that a forum who promote P2P lending also promote the trashing of asset values for the benefit of bargain hunting fire-sale auction junkies.
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bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
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Post by bigfoot12 on Apr 1, 2019 8:54:20 GMT
IMO this forum is the biggest culprit. On the one hand you can't reveal a borrower's identity, but it's OK to slag off the value of property that has defaulted and is with the receivers. I raised the issued with admin last year and got nowhere. Pretty disgraceful that a forum who promote P2P lending also promote the trashing of asset values for the benefit of bargain hunting fire-sale auction junkies. IMO this forum some of this forum's members are the main culprit.
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Post by mrclondon on Apr 1, 2019 9:17:03 GMT
sqh with a very small moderation team we are reliant to a large extent on platforms reporting posts that they feel are detrimental. The no naming of asset or borrower rule is designed to minimize the chances of linkage being established by google / bing, but of course the more clued up finance providers will know to come directly here and suss out our abbreviated thread title.
From my own perspective much of the discussion of defaulted asset values is mis-guided ... the distressed sale value of an asset can be guessed at before the loan is drawn down, and will always be much lower than OMV, especially if OMV is based on residual value back calculated from a GDV. Too much blame is pointed at RICS valuers, not enough at the platforms for failing to be transparent about what an asset will likely realise in a distressed sale situation. (In probably the majority of cases we are lending in excess of what the probable distressed sale value is. We are gambling that not too many loans default)
Its a balance ... I believe there is merit in the discussions on asset values (even if mis-guided as noted above) to educate newer p2p lenders that valuations / LTV can not be relied upon, but equally giving out too much information is counterproductive. I moderated a post recently that gave the exact offer ££,£££ received on an asset that was continuing to be marketed in the hope of higher offers. That post was irresponsible as it set a benchmark for rival offers.
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cb25
Posts: 3,528
Likes: 2,668
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Post by cb25 on Apr 1, 2019 9:17:40 GMT
sqh I wonder if you got nowhere with admin because property valuations are opinion? If not on these forums, how else are lenders to focus attention on what they view as incorrect valuations?
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arby
Member of DD Central
Posts: 910
Likes: 959
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Post by arby on Apr 1, 2019 9:22:41 GMT
IMO this forum is the biggest culprit. On the one hand you can't reveal a borrower's identity, but it's OK to slag off the value of property that has defaulted and is with the receivers. I raised the issued with admin last year and got nowhere. Pretty disgraceful that a forum who promote P2P lending also promote the trashing of asset values for the benefit of bargain hunting fire-sale auction junkies. I'm sure most of us here are simple investors looking for information (and an occasional vent of frustration), but as there's money to be made it would seem likely that there are people with ulterior motives that could stand to benefit from certain loans (or even platforms) struggling. I don't think there's any easy answer to this unfortunately. The only communication I had from a mod on this was that I should just block any user I thought was doing this. That doesn't address the core issue though, but again, what else can the mods do? Just blocking anyone with any negative view will leave this place pretty empty.... 
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