easylender
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Post by easylender on Oct 11, 2022 17:02:48 GMT
I've been lending through CP for over 3 years now and have not deposited new funds for the last 18 months. As you would expect the proportion of my loans that are overdue has increased over time. It now stands at over 25% by value. Is there a proportion of overdue loans that I should be concerned about, and if so what?
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Post by Penny Pincher on Oct 12, 2022 11:23:06 GMT
If you do become concerned about the proportion of overdue loans then the easiest way to reduce it is to deposit new funds.
But seriously, I'm quite comfortable with delays to CP projects, happy even as the gap between the advertised interest and my realised interest reduces. Short projects with a lag between pledge and loan start, often realise about 0.5% less interest than the advertised rate.
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benaj
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Post by benaj on Oct 12, 2022 11:31:57 GMT
I've been lending through CP for over 3 years now and have not deposited new funds for the last 18 months. As you would expect the proportion of my loans that are overdue has increased over time. It now stands at over 25% by value. Is there a proportion of overdue loans that I should be concerned about, and if so what? Are you saying you have more than 19 overdue loans than CP stated? Currently there are 19 projects past 180 days. According to their stats, there are some capital outstanding from loans originated in 2018 and 2019. www.crowdproperty.com/statistics
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Ace
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Post by Ace on Oct 12, 2022 12:29:02 GMT
I've been lending through CP for over 3 years now and have not deposited new funds for the last 18 months. As you would expect the proportion of my loans that are overdue has increased over time. It now stands at over 25% by value. Is there a proportion of overdue loans that I should be concerned about, and if so what? Are you saying you have more than 19 overdue loans than CP stated? Currently there are 19 projects past 180 days. According to their stats, there are some capital outstanding from loans originated in 2018 and 2019. www.crowdproperty.com/statisticsThe stats state that there are only 7 projects currently more than 180 days late, because 12 of the 19 have been repaid. I assume that easylender is referring to loans that are listed as overdue on the dashboard (I.e. the Due total, so all loans that are at least 1 day late). My active account currently has 26.6% of loans by value overdue by this measure. I'm not concerned by it, but it has been steadily rising.
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easylender
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Post by easylender on Oct 14, 2022 23:08:09 GMT
Are you saying you have more than 19 overdue loans than CP stated? Currently there are 19 projects past 180 days. According to their stats, there are some capital outstanding from loans originated in 2018 and 2019. www.crowdproperty.com/statisticsNo, I was not saying that, I was describing the proportion of overdue loans by value on the dashboard. However when I look at my 27th September snapshot I did have 24 overdue loans, of which 11 are defaulted(i.e. >180 days late), if you count different tranches as different loans. The CP statistics list 19 loans defaulted and 12 defaulted loans repaid, which I presume leaves 7 currently defaulted. This suggests to me they are not counting tranches as loans.
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rocky1
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Post by rocky1 on Oct 15, 2022 5:42:16 GMT
as i see it on all platforms tranche 1 or tranche 10 it is still part of 1 overall loan.i remember on a lot of the FS loans certain tranches it was stated they ranked above following tranches in the event of default.did not make a lot of difference in the end as it all turned out to be one big scam.
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Post by overthehill on Oct 15, 2022 8:51:24 GMT
Are you saying you have more than 19 overdue loans than CP stated? Currently there are 19 projects past 180 days. According to their stats, there are some capital outstanding from loans originated in 2018 and 2019. www.crowdproperty.com/statisticsNo, I was not saying that, I was describing the proportion of overdue loans by value on the dashboard. However when I look at my 27th September snapshot I did have 24 overdue loans, of which 11 are defaulted(i.e. >180 days late), if you count different tranches as different loans. The CP statistics list 19 loans defaulted and 12 defaulted loans repaid, which I presume leaves 7 currently defaulted. This suggests to me they are not counting tranches as loans.
I'll stick my neck out and say CP won't be counting tranches as seperate loans in any statistics, we would need to review the idiom lies, damned lies and statistics if that was the case.
I have 12 late loans now out of 26 active loans and I'm sure there are plenty more. To be fair I haven't invested much over the last year as I started reducing my exposure after a couple of bad loans came to light.
Their opaque and almost unusable website is becoming a transparency issue compared to other P2P where you can clearly see the status of all loans whether you are in or out of them.
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Post by overthehill on Oct 15, 2022 9:36:13 GMT
No, I was not saying that, I was describing the proportion of overdue loans by value on the dashboard. However when I look at my 27th September snapshot I did have 24 overdue loans, of which 11 are defaulted(i.e. >180 days late), if you count different tranches as different loans. The CP statistics list 19 loans defaulted and 12 defaulted loans repaid, which I presume leaves 7 currently defaulted. This suggests to me they are not counting tranches as loans.
I'll stick my neck out and say CP won't be counting tranches as seperate loans in any statistics, we would need to review the idiom lies, damned lies and statistics if that was the case.
I have 12 late loans now out of 26 active loans and I'm sure there are plenty more. To be fair I haven't invested much over the last year as I started reducing my exposure after a couple of bad loans came to light.
Their opaque and almost unusable website is becoming a transparency issue compared to other P2P where you can clearly see the status of all loans whether you are in or out of them.
What has jumped out at me from the weekly email for a quite a while is the ratio of repaid funds / new loans. The growth is phenomenal which is fine unless it is too fast or your late loans and defaults start to spiral. Investors lose confidence and you have a pile of part finished multi-tranche builds needing funds.
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Ace
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Post by Ace on Oct 15, 2022 12:49:01 GMT
I'll stick my neck out and say CP won't be counting tranches as seperate loans in any statistics, we would need to review the idiom lies, damned lies and statistics if that was the case.
I have 12 late loans now out of 26 active loans and I'm sure there are plenty more. To be fair I haven't invested much over the last year as I started reducing my exposure after a couple of bad loans came to light.
Their opaque and almost unusable website is becoming a transparency issue compared to other P2P where you can clearly see the status of all loans whether you are in or out of them.
What has jumped out at me from the weekly email for a quite a while is the ratio of repaid funds / new loans. The growth is phenomenal which is fine unless it is too fast or your late loans and defaults start to spiral. Investors lose confidence and you have a pile of part finished multi-tranche builds needing funds.
I'd forgotten until you mentioned it now that I used to have a major concern that CP might get stuck with some part funded development loans where they were unable to fund the later tranches. I recall reading that exactly that had caused some disasters on other platforms. I queried CP on the topic at the time and received an unconvincing reply. At that time I decided that the best defense was for me to only fund single tranche loans and the final tranches of multi-tranche loans. Shortly after that two things happened that led to me totally abandoning that restriction on myself. 1) It became very difficult to get funds deployed on CP because all loans were oversubscribed by large multiples (sometimes 20 times oversubscribed). 2) more importantly, CP got some major institutional funding. I think it was of the order of £200m that they could deploy. So, I concluded that the risk of underfunded loans had disappeared. The problem now is that CP have become so opaque that I've no idea how much of that institutional funding has been deployed, or whether they received any other funding guarantees. It also seems that the massive overfunding from retail investors has reduced greatly, since any repaid funds seem to get fully deployed on the next available loan that I don't skip. Perhaps its time to return to my old strategy, or at least be more selective on a case by case basis than my current strategy of just funding the higher rate loans 🤔
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Ace
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Post by Ace on Nov 14, 2022 21:28:52 GMT
Are you saying you have more than 19 overdue loans than CP stated? Currently there are 19 projects past 180 days. According to their stats, there are some capital outstanding from loans originated in 2018 and 2019. www.crowdproperty.com/statisticsThe stats state that there are only 7 projects currently more than 180 days late, because 12 of the 19 have been repaid. I assume that easylender is referring to loans that are listed as overdue on the dashboard (I.e. the Due total, so all loans that are at least 1 day late). My active account currently has 26.6% of loans by value overdue by this measure. I'm not concerned by it, but it has been steadily rising. The amount of overdue loans by value in my active account has now crept up to 39.4% 31.6%. EDIT: Corrected percentage above. My mistake; I hadn't noticed that the numbers in the bar graph are incorrect when a single account is selected. I.e. when I select my standard account the amount the numbers in the bar graph still reflect the total of all accounts, but the numbers in the table further down do correctly show the values for the selected account only.
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Ace
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Post by Ace on Dec 3, 2022 9:03:01 GMT
The stats state that there are only 7 projects currently more than 180 days late, because 12 of the 19 have been repaid. I assume that easylender is referring to loans that are listed as overdue on the dashboard (I.e. the Due total, so all loans that are at least 1 day late). My active account currently has 26.6% of loans by value overdue by this measure. I'm not concerned by it, but it has been steadily rising. The amount of overdue loans by value in my active account has now crept up to 39.4% 31.6%. EDIT: Corrected percentage above. My mistake; I hadn't noticed that the numbers in the bar graph are incorrect when a single account is selected. I.e. when I select my standard account the amount the numbers in the bar graph still reflect the total of all accounts, but the numbers in the table further down do correctly show the values for the selected account only. Overdue loans by value in my active account has remained fairly flat. It's actually reduced slightly to 30.9%.
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ton27
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Post by ton27 on Dec 3, 2022 18:22:48 GMT
The amount of overdue loans by value in my active account has now crept up to 39.4% 31.6%. EDIT: Corrected percentage above. My mistake; I hadn't noticed that the numbers in the bar graph are incorrect when a single account is selected. I.e. when I select my standard account the amount the numbers in the bar graph still reflect the total of all accounts, but the numbers in the table further down do correctly show the values for the selected account only. Overdue loans by value in my active account has remained fairly flat. It's actually reduced slightly to 30.9%. Mine is also about 30%. I haven't kept an ongoing record of the percentage but thought it had increased over the past few months - and has contributed to the fact that I have reduced my ongoing investment levels, although not significantly. Looking at the amount I have been receiving on Autoinvest (100% on the last few projects) I think other lenders might also be taking a more cautious stance. What do others think?
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Ukmikk
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Post by Ukmikk on Dec 5, 2022 11:18:44 GMT
Overdue loans by value in my active account has remained fairly flat. It's actually reduced slightly to 30.9%. Mine is also about 30%. I haven't kept an ongoing record of the percentage but thought it had increased over the past few months - and has contributed to the fact that I have reduced my ongoing investment levels, although not significantly. Looking at the amount I have been receiving on Autoinvest (100% on the last few projects) I think other lenders might also be taking a more cautious stance. What do others think? I'm taking a more cautious stance and no longer making any new investments. I will move funds off the site as the (invariably late) repayments come in. There are just too many issues now with CP and the stagnant rates are just not good enough imo.
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