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Post by geraldine1210 on Jun 23, 2016 14:08:45 GMT
Just when you were least expecting it straight into pipeline with go live tomorrow 24/06/16: PBL119 - Norfolk - £487,500 Loan to value 65% Remaining Time 183 days fairly small one, but is CD napping  ? He is on it in another post. See the eastern daily press article about this hotel group.
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MarkT
Member of DD Central
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Post by MarkT on Jun 23, 2016 14:32:01 GMT
I have to say that the "pipeline" as an indicator as to what will be going live in the near future has become pretty irrelevant.
As someone new to the platform, I would ask the more seasoned members has it always been like this?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Jun 23, 2016 14:43:11 GMT
I have to say that the "pipeline" as an indicator as to what will be going live in the near future has become pretty irrelevant. As someone new to the platform, I would ask the more seasoned members has it always been like this? No. SS has been acting a bit uncontrolled for the last two or three weeks. Not sure if/when they'll get back to normal. It's really is beyond me why SS are shoving these loans straight onto the pipeline, with the intention of going live the very next day... Surely, especially in the current state of the platform (where investors do seem to have maxed out) SS need to know what the demand is for each potential loan, long before drawdown... 
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Post by supernumerary on Jun 23, 2016 14:58:48 GMT
It's really is beyond me why SS are shoving these loans straight onto the pipeline, with the intention of going live the very next day... Surely, especially in the current state of the platform (where investors do seem to have maxed out) SS need to know what the demand is for each potential loan, long before drawdown... It is not often that you are perplexed Cooling Dude.  As you have wondered what is going on, there MAY be; [1] Commercial pressure to get the deal done as quickly as possible, after the commercial checks, OR/(ADDED with), [2] The risk of Saving Stream losing the deal to others, if Saving Stream announces its intentions too much in advance. BTW, I don't work for Saving Stream.
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MarkT
Member of DD Central
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Post by MarkT on Jun 23, 2016 15:33:08 GMT
Thanks for the responses.
It looks like surprises are the new normal.
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Post by savingstream on Jun 23, 2016 15:40:09 GMT
There is nothing unusual about the way we are working. Unfortunately, commercial expediency wins the day again.
We are bridging lenders who emphasise speed and capability to perform when we say we will. This loan came in on Monday, signed terms Tuesday, valuation rewritten yesterday, need to complete tmrw for the borrower to win the deal.
We probably could have put it up in the pipeline earlier but sometimes these deals don't get all the way to this stage. This one looks very likely to complete tmrw.
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Investboy
Member of DD Central
Trying to recover from P2P revolution
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Post by Investboy on Jun 24, 2016 9:50:42 GMT
... This loan came in on Monday, signed terms Tuesday, valuation rewritten yesterday, ... ... released Friday, drawn down Saturday, defaulted Monday... Happy Days...
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Post by goldservice on Jun 26, 2016 10:27:50 GMT
... This loan came in on Monday, signed terms Tuesday, valuation rewritten yesterday, ... ... released Friday, drawn down Saturday, defaulted Monday... Happy Days... Ain't that rather cheeky, Investboy - how did you get that black eye? 
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spyrogyra
Member of DD Central
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Post by spyrogyra on Jun 26, 2016 10:52:34 GMT
As things have changed lately, a new post "expected repayments" could turn to be more popular. SS are making their communication come-back, replying to much less important issues than a few weeks ago when even a single assurance would have been a great relief. That comes to prove that there's a correlation b/n the level of communication and the current platform "performance" as seen from their perspective. I hugely respect SS for the great success and great growth, but I wish they would be more wise to maintain a more constant level of communication through good or bad times. So come on SS, please let us know, do you expect some repayments in the coming weeks. Perhaps you will use another word for imminent, but no,please, not imminent this time.
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Jun 30, 2016 9:50:40 GMT
So are they preparing the way to launching this one, maybe tomorrow? I don't think pre-fund will ne needed for a loan close to £7.
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Balder
Member of DD Central
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Post by Balder on Jun 30, 2016 9:59:43 GMT
So are they preparing the way to launching this one, maybe tomorrow? I don't think pre-fund will ne needed for a loan close to £7. I would imagine so - plus PBL025 funds are going to roll-over, allegedly. Although I'm not sure I want mine to now they've increased the risk. 57% is still far better than most!
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jamesc
Member of DD Central
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Post by jamesc on Jun 30, 2016 10:29:37 GMT
Interesting they have changed the LTV but not the loan size or decreased valuation. Although if you add the outstanding loan for PBL25 £3.11mln to the loan size on the pipeline you get £9.971mln which does equate to 57% LTV. Looks like someone forgot to put the right figures in which is annoying because the only reason I hung on to a large chunk of PBL25 was to get this new loan now its not so attractive. I guess it will be interesting how much of the DFL draws down in addition to the £3mln to pay off PBL25. This will now become SS largest loan surpassing the London loans given that 3 of those never happened and one other was reduced.
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Liz
Member of DD Central
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Post by Liz on Jun 30, 2016 11:12:03 GMT
DFL Hud Block B has had it's loan and consequently it's LTV increased - was 39%? - now 57% The figures quoted on the site still give a LTGDV of 39%, so either they will be borrowing more, or the GDV figure is much lower. If they need another £3m, then SS are likely to release only small tranches, maybe 6 X £0.5m tranches. I see high demand for this one, and don't expect to see a large amount on the SM, once it launches.
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goopy
Member of DD Central
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Post by goopy on Jun 30, 2016 13:54:57 GMT
2.39m on SS SM and only 36k on MT and MT have launched a couple of loans recently. Just need the £ to go up a bit now so my hols aren't as expensive.  |
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Post by GSV3MIaC on Jun 30, 2016 15:47:59 GMT
2.39m on SS SM and only 36k on MT and MT have launched a couple of loans recently. Just need the £ to go up a bit now so my hols aren't as expensive. Buy a raincoat and go to Torquay (or similar). Or Guernsey, where you can practise being a Channel Islander. 8>. (In fairness it must be said that the MT loans were rather smaller than the SS London-9)
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