|
|
Post by dodgeydave on Dec 17, 2015 12:45:58 GMT
I was wondering why the pipe had gone up from c£16m to c£18m, looks like the london flat (previously a small second charge) might be taking out the first charge holder with a full loan. Interesting, I adjusted my pre-funding accordingly. Just a stupid question, re the stages, do they add up from 1 to 3 or are they in descending order (countdown) with regard to priority? (1,2,3 or 3,2,1) I would suggest you read the pipeline loans page it explains it.
|
|
ablender
Member of DD Central
Posts: 2,204 
Likes: 555
|
Post by ablender on Dec 17, 2015 12:48:04 GMT
Thanks stevet. I could not reason it out. I am probably still half asleep or more.
|
|
jonah
Member of DD Central
Posts: 2,031
Likes: 1,113
|
Post by jonah on Dec 17, 2015 12:48:42 GMT
I was wondering why the pipe had gone up from c£16m to c£18m, looks like the london flat (previously a small second charge) might be taking out the first charge holder with a full loan. This has increased the size of that loan by a factor of 5. As SS haven't done anything with the prefunding numbers, I wonder if anyone who had 'gamed it' based on one number may be caught up by getting a lot more than they expected.
|
|
mack
Posts: 85
Likes: 90
|
Post by mack on Dec 17, 2015 13:18:54 GMT
Hi SS/Tim
Anything potentially going live this side of new year?
Judging by the stages a few weeks to go.
Update before Xmas would nice.
|
|
|
|
Post by wildlife2 on Dec 17, 2015 13:52:57 GMT
Just had two emails about negative balance which only happened after midnight from buying pebble parts on SM, never had this before  Getting ready for the next loan..........
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Dec 17, 2015 14:06:57 GMT
I was wondering why the pipe had gone up from c£16m to c£18m, looks like the london flat (previously a small second charge) might be taking out the first charge holder with a full loan. This has increased the size of that loan by a factor of 5. As SS haven't done anything with the prefunding numbers, I wonder if anyone who had 'gamed it' based on one number may be caught up by getting a lot more than they expected. Would have thought savingstream would have zeroed out all prefunds before changing this loan so significantly. Had not prefunded this one (2nd charge, no documentation) so am not sure. They will struggle to force people retrospectively to their initial prefund settings made against the original loan parameters.
|
|
SteveT
Member of DD Central
Posts: 6,875
Likes: 7,924
|
Post by SteveT on Dec 17, 2015 14:17:09 GMT
This has increased the size of that loan by a factor of 5. As SS haven't done anything with the prefunding numbers, I wonder if anyone who had 'gamed it' based on one number may be caught up by getting a lot more than they expected. Would have thought savingstream would have zeroed out all prefunds before changing this loan so significantly. Had not prefunded this one (2nd charge, no documentation) so am not sure. They will struggle to force people retrospectively to their initial prefund settings made against the original loan parameters. Hard to please everybody in that circumstance; if I'd set a target in a loan and then returned from holiday to find it had launched with my target subsequently zeroed out then I'd be mightily unimpressed. However it would be logical to reset to lenders' default "global pre-fund" figure when a pipeline loan changes substantially.
|
|
|
|
Post by ladywhitenap on Dec 17, 2015 14:45:26 GMT
Just had two emails about negative balance which only happened after midnight from buying pebble parts on SM, never had this before Getting ready for the next loan.......... I can't see anything going live before Christmas now. SS have said the lawyers are packing up on Friday (tomorrow) so even if a loan filled now the money would not be going anywhere, and SS would be left paying interest over the dead period. I've pulled most of the cash I had in SS to put somewhere where it will at least earn something for me until 4th Jan 16 at the earliest when SS might get working again. Anyone for a humbug? LW
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Dec 17, 2015 14:46:57 GMT
I was wondering why the pipe had gone up from c£16m to c£18m, looks like the london flat (previously a small second charge) might be taking out the first charge holder with a full loan. This has increased the size of that loan by a factor of 5. As SS haven't done anything with the prefunding numbers, I wonder if anyone who had 'gamed it' based on one number may be caught up by getting a lot more than they expected. In which case there might be a lot on the SM after launch. 
|
|
littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
|
Post by littleoldlady on Dec 17, 2015 14:50:43 GMT
Just had two emails about negative balance which only happened after midnight from buying pebble parts on SM, never had this before Getting ready for the next loan.......... I can't see anything going live before Christmas now. SS have said the lawyers are packing up on Friday (tomorrow) so even if a loan filled now the money would not be going anywhere, and SS would be left paying interest over the dead period. I've pulled most of the cash I had in SS to put somewhere where it will at least earn something for me until 4th Jan 16 at the earliest when SS might get working again. Anyone for a humbug? LW Why do you keep cash in SS? The only reason I can see is if you want to prefund a loan by an amount greater than your total portfolio value. Yes please, I like humbugs.
|
|
|
|
Post by wildlife2 on Dec 17, 2015 15:00:12 GMT
I'll take a few mince pies instead and hibernate until 4th Jan.......
|
|
|
|
Post by pepperpot on Dec 17, 2015 15:04:03 GMT
Just had two emails about negative balance which only happened after midnight from buying pebble parts on SM, never had this before Getting ready for the next loan.......... I got that 'reminder' email recently too. For me it seemed to be generated after two successive midnights in negative territory, even though the first parts were cleared the following day and then something else was purchased so negative again. The amount indicated was the second nights negative balance. Not sure what would happen on the third day as I reacted to the slapped wrist and made sure I wasn't negative by then. (think I sold something to clear, instead of funding)
|
|
|
|
Post by wildlife2 on Dec 17, 2015 15:10:42 GMT
Just had two emails about negative balance which only happened after midnight from buying pebble parts on SM, never had this before Getting ready for the next loan.......... I got that 'reminder' email recently too. For me it seemed to be generated after two successive midnights in negative territory, even though the first parts were cleared the following day and then something else was purchased so negative again. The amount indicated was the second nights negative balance. Not sure what would happen on the third day as I reacted to the slapped wrist and made sure I wasn't negative by then. (think I sold something to clear, instead of funding) Yes, I just sold something too, instead of bothering with the bank transfer.
|
|
mikes1531
Member of DD Central
Posts: 6,453
Likes: 2,320
|
Post by mikes1531 on Dec 17, 2015 15:58:58 GMT
Would have thought savingstream would have zeroed out all prefunds before changing this loan so significantly. Had not prefunded this one (2nd charge, no documentation) so am not sure. They will struggle to force people retrospectively to their initial prefund settings made against the original loan parameters. Hard to please everybody in that circumstance; if I'd set a target in a loan and then returned from holiday to find it had launched with my target subsequently zeroed out then I'd be mightily unimpressed. However it would be logical to reset to lenders' default "global pre-fund" figure when a pipeline loan changes substantially. I would have thought that it would have been appropriate for savingstream to bring this significant change to the attention of any investor who had a pre-bid in for this loan. I can understand that SteveT's example holidaymaker wouldn't be pleased to find they had not been allocated a part of the loan. But neither would the investor who set a high pre-bid expecting the £500k loan to be many times oversubscribed be happy when they found out it had morphed into a £2.5M loan that wasn't oversubscribed at all, resulting in them being allocated many times what they had expected to get -- and receiving an email while on holiday telling them to resolve their significant negative balance ASAP!
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 17, 2015 16:09:19 GMT
Hard to please everybody in that circumstance; if I'd set a target in a loan and then returned from holiday to find it had launched with my target subsequently zeroed out then I'd be mightily unimpressed. However it would be logical to reset to lenders' default "global pre-fund" figure when a pipeline loan changes substantially. I would have thought that it would have been appropriate for savingstream to bring this significant change to the attention of any investor who had a pre-bid in for this loan. I can understand that SteveT 's example holidaymaker wouldn't be pleased to find they had not been allocated a part of the loan. But neither would the investor who set a high pre-bid expecting the £500k loan to be many times oversubscribed be happy when they found out it had morphed into a £2.5M loan that wasn't oversubscribed at all, resulting in them being allocated many times what they had expected to get -- and receiving an email while on holiday telling them to resolve their significant negative balance ASAP! Sorry for those who oversubscribe. I think they would deserve it. If everyone stuck to what they really want there will not be any problems at all. If there are people who are creating the problem, they have to be responsible for their action.
|
|
