blender
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Post by blender on Nov 2, 2021 16:43:41 GMT
Ah, the pleasure of getting retained interest. . Oh wait a minute isn't that my own money . So the borrower is making no payments at all The old Lendy trick. Lets pay the lenders their interest from their own funds and tell them how wonderful our loans are FC used to do it as well, and they gave us some cashback. The borrower has to pay nothing until the very end, and so these loans have a very distinctive end-loaded risk profile. Only to be taken on platforms with a good secondary market.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Nov 2, 2021 16:51:13 GMT
Well so far this loan is trading " A gleaming blue dot of serenity in a sea of red". Its not fetching its original value as of late...... but........
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Post by df on Nov 2, 2021 18:58:53 GMT
Well so far this loan is trading " A gleaming blue dot of serenity in a sea of red". Its not fetching its original value as of late...... but........ It should be trading for the next 5 months, interest is retained so the problems are not likely to be discovered until close to the end date. I don't think this loan is likely to trade at par for the rest of its life, it will always be at discount, probably at greater discount at a later stage.
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Post by Badly Drawn Stickman on Nov 30, 2021 9:23:27 GMT
I'm not really seeing the need for an admin note arriving holding hands with the payment made email that simply informs me the payment has been made.
If the admin note gave a status update on how the loan is doing then that would be useful maybe, otherwise it is just totally pointless.
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nyneil
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Post by nyneil on Nov 30, 2021 12:02:05 GMT
Far too many pointless emails from ablrate , IMO. If the payment is a few hours late, or next day, so what? Just tell me if it's several days late or you don't think they're going to pay. It's annoying, having to delete so many emails.
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Post by Badly Drawn Stickman on Dec 30, 2021 20:53:28 GMT
Given these payment funds are held on account I can't but think putting in the effort to make the payment today would have been a much needed show of intent. Even if it would have been unable to be withdrawn. Some may have wished to get it invested on the 'third party' secondary market possible earning some interest.
Just gives off an air of indifference, that I am not sure they will benefit by.
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dave4
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Cynical is a hobby not a lifestyle
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Post by dave4 on Dec 30, 2021 22:11:33 GMT
Given these payment funds are held on account I can't but think putting in the effort to make the payment today would have been a much needed show of intent. Even if it would have been unable to be withdrawn. Some may have wished to get it invested on the 'third party' secondary market possible earning some interest. Just gives off an air of indifference, that I am not sure they will benefit by. Disappointing, very disappointing, the red round coffin nail heads just seem to keep on cumming. I'm assuming a payment and a explanation "and significantly more than " couldn't be arsed" first thing Tuesday!!
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hubert
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Post by hubert on Dec 31, 2021 7:12:46 GMT
Given these payment funds are held on account I can't but think putting in the effort to make the payment today would have been a much needed show of intent. Even if it would have been unable to be withdrawn. Some may have wished to get it invested on the 'third party' secondary market possible earning some interest. Just gives off an air of indifference, that I am not sure they will benefit by. Especially as they made the effort to distribute payments for 138 on Wednesday (29/12/21) this week.
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blender
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Post by blender on Dec 31, 2021 11:25:27 GMT
Totally agree. Now they're just taking the p. For the first time ever none of my loans is tradeable. What was that about liquidity?
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Post by Badly Drawn Stickman on Dec 31, 2021 11:29:22 GMT
Totally agree. Now they're just taking the p. For the first time ever none of my loans is tradeable. What was that about liquidity? Rather curiously 059 has just paid. Maybe this one will this year.
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blueblazer
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Post by blueblazer on Dec 31, 2021 13:14:03 GMT
Add on that 171 P* (probably the last remaining 'gold standard' borrower) is now two days late on their FIRST repayment.
Hopefully, down to holidays but regardless, it doesn't look good.
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Post by dommer68 on Jan 25, 2022 15:00:02 GMT
this is trading around 96. i guess that means it is unlikely to pay out on the due date in 3 months?
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Post by Badly Drawn Stickman on Jan 25, 2022 15:34:35 GMT
this is trading around 96. i guess that means it is unlikely to pay out on the due date in 3 months? I think it reflects a lack of confidence in it doing so. The interest being retained tends not to give any real clue. There is as far as I know no reason to suspect the worst. Some may suggest a good platform would give an update well in advance as to how a loan is progressing towards repayment. That way any possible delay can be factored in.
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GreenZero
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The early bird may get the worm, but it's the second mouse who gets the cheese
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Post by GreenZero on Jan 25, 2022 18:03:51 GMT
I agree, towards the end of an interest only loan there is always more people wanting to get off than get on which is reflected in the SM price. I too remember the times when companies used to provide updates on their progress as their loans approached the baloon payment date. I recall a North Walian bat problem
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blender
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Post by blender on Jan 30, 2022 23:48:26 GMT
This loan is suspended today awaiting the interest payment, which should come tomorrow because ABL hold that cash. Over the past month I have sold a chunk of it to exit, and that has helped to suppress the trading price. Just to say that in my case the sales were nothing to do with the perceived quality of this loan, and everything to do with having too much stuck in the AF loans.
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