Ace
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Post by Ace on Nov 15, 2022 8:47:18 GMT
A quote on P2PFN from 4thWay ( link) says "Meanwhile, CrowdProperty was described as having a “perfect record”, with all loans repaid in full and all outstanding loans in good standing." It's not clear what the definition of good standing is though. |
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Nov 15, 2022 8:56:27 GMT
A quote on P2PFN from 4thWay ( link) says "Meanwhile, CrowdProperty was described as having a “perfect record”, with all loans repaid in full and all outstanding loans in good standing." It's not clear what the definition of good standing is though. Well that's a joke. It must mean what ever they say it means. 4thWay are very optimistic on p2p in general. I just hope their optimism turns out to be well founded. I suppose they are not legally bound to put in the risk warnings that deposit takers are.
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Ace
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Post by Ace on Nov 15, 2022 12:17:06 GMT
I've emailed CP to ask them to check and update the stats. The stats have now been updated to show 9 loans > 180 days late.
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p2pfan
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Full-Time Investor
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Post by p2pfan on Nov 15, 2022 13:17:48 GMT
A quote on P2PFN from 4thWay ( link) says "Meanwhile, CrowdProperty was described as having a “perfect record”, with all loans repaid in full and all outstanding loans in good standing." It's not clear what the definition of good standing is though. Well that's a joke. It must mean what ever they say it means. 4thWay are very optimistic on p2p in general. I just hope their optimism turns out to be well founded. I suppose they are not legally bound to put in the risk warnings that deposit takers are. I agree about 4th way. The site should give be given limited credence. It's ridiculously biased and optimistic about P2P lending. Just like 'P2P Finance News' is no more than the 'Fox News' propaganda machine of the P2P industry, mainly publishing rehashed press releases from whoever will give them money, 4thway is full of misleading information. I have often noticed blatantly false information in 4thway's appraisals of P2P platforms, with the false information always being in favour of the P2P platforms. Take whatever they write with a huge dollop of salt.
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Ace
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Post by Ace on Nov 15, 2022 17:41:47 GMT
I've emailed CP to ask them to check and update the stats. The stats have now been updated to show 9 loans > 180 days late. I received a reply from CP explaining that there had been an error in the automatic updating of the "loans > 180 days late" statistic. It's now been corrected and the correct value will be showing after 6am tomorrow. I'll stick a copy of this post in a more relevant thread as it's not really specific to this loan.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Dec 22, 2022 12:34:30 GMT
Yet another delay due to something basic which IMO should have been foreseen and dealt with by either the borrower or CP.
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zuluwarrior
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chap from Newcastle, dabbling here and there. Long-time lurker of the forums
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Post by zuluwarrior on May 9, 2023 9:32:16 GMT
The accepted offer on this property has now fallen through. Back to square one.
CP are so desperate to maintain the façade that they never lose money and never get it wrong.
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Post by multiaccountmanager on May 10, 2023 9:02:07 GMT
The accepted offer on this property has now fallen through. Back to square one. CP are so desperate to maintain the façade that they never lose money and never get it wrong. The CP Updates make it clear the status is CONFIDENTIAL. Otherwise the eventual outcome may well be prejudiced. At least with CP there is as yet no question of assets not being secured properly. So as yet no significant loss likely compared to the fraud and so on seen at other P2P platforms so called regulated by the FCA.
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zuluwarrior
Member of DD Central
chap from Newcastle, dabbling here and there. Long-time lurker of the forums
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Post by zuluwarrior on May 10, 2023 14:36:09 GMT
To be clear, this isn't a leak from CP updates, hadn't even seem them. Its literally back on the market with a big red banner saying "abortive negotiations"
CP doesn't have security of assets problems I agree. The problem with this loan is the development landscape is very different now than when it was when the loan was provided. Interest rates have shot up, build costs have risen significantly, GDV is down, banks are more reluctant to fund.
If after a year, you can't sell for the price you want, that clearly says your price expectations are higher than the market is willing to pay
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