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Post by elephantrosie on Dec 21, 2020 21:02:30 GMT
Are there no new loans or secondary market loans on UB at the moment? i cant see any.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jan 5, 2021 12:35:47 GMT
I don't know if I've missed something but the last new loan, according to the Loan Portfolio page, was 14 May 2020. Or does that just refer to my loans? Are Unbolted in wind down? Seems to be operating as normal, my account has been investing in loans. Loan portfolio is just your loans AIUI Click on Recent loans on home page to see all loans. Two today, one new, one renewal, 9 yesterday incl 2 new gold & one standard (that said at least one is just a consolidation of two previous loans)
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Post by nooneere on Jan 22, 2021 17:40:34 GMT
I have certainly noticed a lack of 'buy loans' in recent months. So in the email circular from UB today, mostly advertising their OnStep venture, I was interested in their honest appraisal of recent business: "... while our loan book has continued to perform strongly during the pandemic with no noticeable increase in defaults and arrears - a testament to our underwriting standards coming into the pandemic, we have seen a decrease in borrower demand during the lockdown. This has been driven both by: (a) reduction in consumer spend; as well as (b) reduction in working capital requirements of small businesses, resulting from lower economic activity as well as availability of bounce back loans and other forms of government assistance." Also interesting that they have made a new hire with the intention of increasing loans at the high value end: "Borrowing demand has started to return over the last quarter, and we will expect the pace to increase as the pandemic wears out. We have also invested significantly in the business: (a) hired a senior luxury asset specialist, with a business development mandate; and (b) focusing increased resources in marketing to advisors, galleries and auction houses." All the above is also worth reading for anyone who worries that these particular pawnbrokers are exploiting borrowers in dire financial straits. And if you are still concerned about that, you can choose to invest only in the luxury asset 'buy loans', which hopefully will increase in number thanks to the new hire (what a posh job ).
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