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Post by mfaxford on Jan 18, 2022 20:38:40 GMT
loan 373255530452 - either the borrower id or the borrower's other loans are wrong, something doesn't match. The borrower id has changed since last night as well , I wish they would get this sorted out as I don't want to be loading up on loans from the same borrower.
Yes, it was displayed as 8??, but now is 217 as I assume should be. Including this loan there are currently 3 loans to this borrower. I'm not too fussed over the multiplicity in pawn lending because the loans are against assets which I believe are in CL's possession and valuations seem to be correct. And it looks like one of those has just closed. I half wonder if this is a case of moving around what the loans were secured against.
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Post by df on Jan 18, 2022 21:01:36 GMT
Yes, it was displayed as 8??, but now is 217 as I assume should be. Including this loan there are currently 3 loans to this borrower. I'm not too fussed over the multiplicity in pawn lending because the loans are against assets which I believe are in CL's possession and valuations seem to be correct. And it looks like one of those has just closed. I half wonder if this is a case of moving around what the loans were secured against. Just had a look. Two of them are closed. There were definitely two 217 active displayed when I invested in the new one, which weren't advertised as renewals. My "amount available" has increased accordingly... I'm happy with the outcome, but curious what was this watch swap about? You are probably right - some sort of reshuffle of the same loan.
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
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Post by dave4 on Jan 18, 2022 21:14:57 GMT
And it looks like one of those has just closed. I half wonder if this is a case of moving around what the loans were secured against. Just had a look. Two of them are closed. There were definitely two 217 active displayed when I invested in the new one, which weren't advertised as renewals. My "amount available" has increased accordingly... I'm happy with the outcome, but curious what was this watch swap about? You are probably right - some sort of reshuffle of the same loan. I cant remember the ltv of the two 217 loans, but i'm betting the ltv has increased. (anyone verify?)
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tallsuk
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Post by tallsuk on Jan 18, 2022 22:30:25 GMT
Just had a look. Two of them are closed. There were definitely two 217 active displayed when I invested in the new one, which weren't advertised as renewals. My "amount available" has increased accordingly... I'm happy with the outcome, but curious what was this watch swap about? You are probably right - some sort of reshuffle of the same loan. I cant remember the ltv of the two 217 loans, but i'm betting the ltv has increased. (anyone verify?) The two other 217 loans were for 30k each and one had a LTV of 71% and the other 83%. They have taken a 100k loan and paid off two smaller ones at the same time.
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trium
Member of DD Central
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Post by trium on Jan 19, 2022 7:45:12 GMT
My guess, like dave4 speculated higher up the thread, is that the borrower is a dealer financing stock purchases by securing loans against specific items. If a customer wants to buy one of those items the dealer will have to arrange release of that item and offer alternative pledges. |
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