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Post by gramsky on Feb 9, 2022 9:23:52 GMT
Looks like going to be LLI's first loser.
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Post by overthehill on Feb 9, 2022 9:55:08 GMT
Looks like going to be LLI's first loser.
First charge, LTV 45%. I'm not following what you mean ? They've had far more precarious loans on paper than this and redeemed them.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Feb 9, 2022 9:58:24 GMT
Looks like going to be LLI's first loser. Why? Seems a little precipitous, sub 50% LTV first charge.
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nick
Member of DD Central
Posts: 1,055
Likes: 825
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Post by nick on Feb 9, 2022 9:58:37 GMT
Looks like going to be LLI's first loser. I'm not in or familiar with this loan. Can someone provide a bit of colour on the loan, eg loan amount, original ltv, risk band, why there might be a shortfall, eg over optimistic valuation etc? Just trying to get a feel if there were any obvious red flags before things started going pear shaped for future reference.....
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Post by overthehill on Feb 9, 2022 10:20:06 GMT
Looks like going to be LLI's first loser. I'm not in or familiar with this loan. Can someone provide a bit of colour on the loan, eg loan amount, original ltv, risk band, why there might be a shortfall, eg over optimistic valuation etc? Just trying to get a feel if there were any obvious red flags before things started going pear shaped for future reference..... You can view the details for all loans, only the updates are restricted if you are not in the loan. Don't know any more but as long as there hasn't been a serious blunder, there is little chance of this loan not being recovered. The property is in a secondary area but I like it.
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 10,848
Likes: 11,077
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Post by ilmoro on Feb 9, 2022 10:26:57 GMT
I'm not in or familiar with this loan. Can someone provide a bit of colour on the loan, eg loan amount, original ltv, risk band, why there might be a shortfall, eg over optimistic valuation etc? Just trying to get a feel if there were any obvious red flags before things started going pear shaped for future reference..... You can view the details for all loans, only the updates are restricted if you are not in the loan. Don't know any more but as long as there hasn't been a serious blunder, there is little chance of this loan not being recovered. The property is in a secondary area but I like it. YOu can view the updates on loans you are not in ... maybe they get blocked once the loan is in recovery but this one isn't yet.
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nick
Member of DD Central
Posts: 1,055
Likes: 825
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Post by nick on Feb 9, 2022 10:54:41 GMT
You can view the details for all loans, only the updates are restricted if you are not in the loan. Don't know any more but as long as there hasn't been a serious blunder, there is little chance of this loan not being recovered. The property is in a secondary area but I like it. YOu can view the updates on loans you are not in ... maybe they get blocked once the loan is in recovery but this one isn't yet. Thanks ilmoro, I just realised that I do have a small investment in this one. I would be surprised if this one ends in a loss given its a first charge loan at low LTV - hasn't concerned me yet and I'm a glass half empty type of guy! I have been invested in a couple of LLI loans have run into trouble in the past, in all cases the loans were of much greater risk profile, but resulted in full recoveries (to my pleasant surprise). In particular, the Lox*** Rd looked like it was going to be a complete write-off given high LTV, second charge loan and small loan amount (just about the worse possible combination), but full recovery was obtained with a shortfall recovered from the sale being met from the guarantor. Obviously defaults and write-offs are the normal cost of lending, I just don't see this particular loan resulting in any meaningful % loss.............
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Post by overthehill on Mar 5, 2022 19:17:14 GMT
I'm not always right but I'm seldom wrong. Repaid.
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