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Post by alexp2p on Dec 15, 2020 13:37:08 GMT
Any opinions about the upcoming S****** H**** M*** U****?
Looks like nothing exciting
Borrower is experienced and the rental income yield looks in a sensible range
.
Any other considerations?
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eeyore
Member of DD Central
Posts: 743 
Likes: 733
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Post by eeyore on Dec 15, 2020 14:45:59 GMT
Any opinions about the upcoming South Harrow M*** U***? Looks like nothing exciting Borrower is experienced and the rental income yield looks in a sensible range. Any other considerations? Hmm, I'm not sure the valuer agrees! I've created a post in the DD Central forum to discuss this, since a full discussion would alert the borrower and related parties and upset Proplend. For anyone interested but without access to DD Central, look at page 22 & 23 of the valuation report (" Further Supporting Comments"). This loan is PLL0962 South Harrow M*** U***. It goes live on Wednesday 16th December.
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eeyore
Member of DD Central
Posts: 743
Likes: 733
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Post by eeyore on Dec 16, 2020 13:26:30 GMT
It seems few shared my doubts about this loan - Tranches A & C gone within seconds/minutes and Tranche B all gone with an hour!
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sapphire
Member of DD Central
Posts: 483
Likes: 400
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Post by sapphire on Dec 19, 2023 13:14:25 GMT
Loan repaid today.
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bababill
Member of DD Central
Posts: 525
Likes: 243
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Post by bababill on Dec 20, 2023 0:42:13 GMT
I think I have been making a mistake.
Exit Fee = 1%.
But now I vaguely recall we receive half of the amount ie 0.5% I had erroneously thought we would receive 0.9%
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Post by overthehill on Dec 20, 2023 10:05:36 GMT
I think I have been making a mistake. Exit Fee = 1%. But now I vaguely recall we receive half of the amount ie 0.5% I had erroneously thought we would receive 0.9% The answer is it depends...
"We had a couple of Lenders contact us directly following the repayment of the xxx Loan stating they noticed they received a percentage of the Loan Exit Fee and was this new or had we made a mistake? It is new, and this loan is the first loan where this Exit Fee has been applicable. Here is how the exit fees work:
if the Loan incurs a compulsory Exit fee, then 100% of that fee is due to Proplend. This fee could be attached to any Loan type.
if the Loan incurs an Exit fee which is only payable if the loan is not redeemed within the expected loan term or a default fee, then this fee is split 50:50 between Proplend and the Lenders. Proplend does not charge any Lender fees on the Lenders 50% share. This is a relatively new fee and would usually be attached to a Bridge Loan.
going forward, we will look to communicate the Exit Fee type more clearly on the FLR’s
Separately a Loan could incur an Early Redemption Charge, this is self-explanatory and is charged if a loan is redeemed early. 100% of this charge is due to the Lenders and then Proplend charge’s it’s usual 10% Lender fee."
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bababill
Member of DD Central
Posts: 525
Likes: 243
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Post by bababill on Dec 21, 2023 0:13:15 GMT
I was buying loans with a low maturity duration in the hope of receiving the exit fee. Not worth it anymore especially as the loans pay a low rate. Silly of me to have forgotten the rules.
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