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Post by Ace on Nov 9, 2023 14:24:23 GMT
One less defaulted now N** R****y paid That's good news. I'm not in that one, so not aware of the details. Stats page should update to reflect the repayment overnight.
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Post by Ace on Nov 10, 2023 8:43:30 GMT
One less defaulted now N** R****y paid That's good news. I'm not in that one, so not aware of the details. Stats page should update to reflect the repayment overnight. , are you sure that loan was one that was actually in default (more than 180 days past its scheduled repayment date)? I ask because the number of repaid defaults did not update last night (still 21). It wouldn't be the first time that the stats page updates stopped working, but seems a bit unlikely as they only fixed it last week. Also, I can't find a project that matches the name pattern you gave under the recently completed projects on the live loans (Projects) page.
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firedog
Member of DD Central
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Post by firedog on Nov 10, 2023 16:15:15 GMT
Ace I don't think it was ever defaulted. The loan that I believe brummiefred is referring to was a 1.13m loan, which started 14/04/2022 with a loan end date of 13/10/2023 – therefore only a month overdue by the time it repaid in full yesterday.
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Post by Ace on Nov 10, 2023 16:58:20 GMT
Ace I don't think it was ever defaulted. The loan that I believe brummiefred is referring to was a 1.13m loan, which started 14/04/2022 with a loan end date of 13/10/2023 – therefore only a month overdue by the time it repaid in full yesterday. Yes, you're spot on. We resolved the issue via private messages, but I forgot to update the thread. Sorry.
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morris
Member of DD Central
Posts: 272 
Likes: 155
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Post by morris on Nov 25, 2023 8:56:43 GMT
This is the second consecutive weekend that there have been no project updates. Is there really nothing to report, or is this taking up too much management time?
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Post by overthehill on Nov 25, 2023 10:56:24 GMT
This is the second consecutive weekend that there have been no project updates. Is there really nothing to report, or is this taking up too much management time?
I could send you mine for something to read but it wouldn't improve your mood. As I've stated before, stopped investing some time ago and won't again until the decks are cleared. I don't invest but I was reading on 4thway about how invest&fund have had very few problem loans.
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dave2
Member of DD Central
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Post by dave2 on Nov 25, 2023 23:40:44 GMT
This is the second consecutive weekend that there have been no project updates. Is there really nothing to report, or is this taking up too much management time? I received project updates today. CrowdProperty Four Projects Funded; Eight Projects Launching Next Week Sat 25/11/2023 10:03.Perhaps you should check your profile setup and your Junk mail filters. Recently I discovered that McAfee was shuffling important e-mails from my bank into my junk mail.
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Post by Ace on Nov 26, 2023 9:18:14 GMT
This is the second consecutive weekend that there have been no project updates. Is there really nothing to report, or is this taking up too much management time? I received project updates today. CrowdProperty Four Projects Funded; Eight Projects Launching Next Week Sat 25/11/2023 10:03.Perhaps you should check your profile setup and your Junk mail filters. Recently I discovered that McAfee was shuffling important e-mails from my bank into my junk mail. What was being discussed was the weekly summary emails titled "CrowdProperty - Project Updates", which are usually issued on Friday nights and list which projects have received updates that week, as opposed to the one that details which projects have been funded. Unusually, I haven't received one for 2 weeks, nor has my partner. Of course, it could be that none of my 75 projects (or her 74) have received any in that time, but there are certainly many that could do with some updates, particularly the long overdue ones.
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littleoldlady
Member of DD Central
Running down all platforms due to age
Posts: 3,045
Likes: 1,862
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Post by littleoldlady on Nov 28, 2023 9:06:16 GMT
As far as I know, but happy to be corrected if not, CP have never admitted that a loan has failed. Any that have are just left festering. Cetainly the case with all my loans. At my age I would be happy to take whatever haircut is coming just to clear the decks for the executors of my estate. The total amount outstanding is not large and is less than total interest received from CP but it's a Hotel California platform.
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Post by overthehill on Nov 28, 2023 9:37:28 GMT
As far as I know, but happy to be corrected if not, CP have never admitted that a loan has failed. Any that have are just left festering. Cetainly the case with all my loans. At my age I would be happy to take whatever haircut is coming just to clear the decks for the executors of my estate. The total amount outstanding is not large and is less than total interest received from CP but it's a Hotel California platform.
It's called denial and it often works for long periods of time, it certainly fills those loans every week. Then the middle stages and finally the last stage is acceptance and actual reality.
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Post by Ace on Nov 28, 2023 16:33:26 GMT
As far as I know, but happy to be corrected if not, CP have never admitted that a loan has failed. Any that have are just left festering. Cetainly the case with all my loans. At my age I would be happy to take whatever haircut is coming just to clear the decks for the executors of my estate. The total amount outstanding is not large and is less than total interest received from CP but it's a Hotel California platform. They've certainly admitted, via the loan updates, that there will be a loss on one of the loans that I'm in. They gave a detailed update once it was known that there would be a loss, but without figures as these couldn't be determined at that time. I've had a couple of short updates on the progress since. Even if this resulted in a complete capital loss, which seems unlikely (but difficult to be sure as costs continue to mount up), it only represents 2.5% of my total CP profit so far. It would be 1 project loss verses 121 completed successful projects for me. From their stats page, we can see that 21 loans that entered the default state have subsequently repaid capital and interest in full, so those weren't left to fester. I'd certainly like more frequent updates on the remaining 33 that are still in default (or at least for the 19 of them that I'm in), but I understand that there's little point when there's no real progress to report, which doesn't necessarily mean that they aren't doing anything. I'm interested to see how they do handle their first crystallised loss, particularly to see whether they forgo any of their own fees, which some of the better platforms do in loss situations, or whether they stick to the letter of the contracts to maximise platform profits. Forgoing their fees would go a long way to appease lenders, and will help me determine my future lending amounts with them.
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markyg61
Member of DD Central
Posts: 350
Likes: 250
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Post by markyg61 on Nov 29, 2023 14:19:49 GMT
As far as I know, but happy to be corrected if not, CP have never admitted that a loan has failed. Any that have are just left festering. Cetainly the case with all my loans. At my age I would be happy to take whatever haircut is coming just to clear the decks for the executors of my estate. The total amount outstanding is not large and is less than total interest received from CP but it's a Hotel California platform. They've certainly admitted, via the loan updates, that there will be a loss on one of the loans that I'm in. They gave a detailed update once it was known that there would be a loss, but without figures as these couldn't be determined at that time. I've had a couple of short updates on the progress since. Even if this resulted in a complete capital loss, which seems unlikely (but difficult to be sure as costs continue to mount up), it only represents 2.5% of my total CP profit so far. It would be 1 project loss verses 121 completed successful projects for me. From their stats page, we can see that 21 loans that entered the default state have subsequently repaid capital and interest in full, so those weren't left to fester. I'd certainly like more frequent updates on the remaining 33 that are still in default (or at least for the 19 of them that I'm in), but I understand that there's little point when there's no real progress to report, which doesn't necessarily mean that they aren't doing anything. I'm interested to see how they do handle their first crystallised loss, particularly to see whether they forgo any of their own fees, which some of the better platforms do in loss situations, or whether they stick to the letter of the contracts to maximise platform profits. Forgoing their fees would go a long way to appease lenders, and will help me determine my future lending amounts with them. I might be a bit thick here but I cant find the stats page you mention above ! Whereabouts on the CP site ?
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Post by Ace on Nov 29, 2023 14:24:29 GMT
They've certainly admitted, via the loan updates, that there will be a loss on one of the loans that I'm in. They gave a detailed update once it was known that there would be a loss, but without figures as these couldn't be determined at that time. I've had a couple of short updates on the progress since. Even if this resulted in a complete capital loss, which seems unlikely (but difficult to be sure as costs continue to mount up), it only represents 2.5% of my total CP profit so far. It would be 1 project loss verses 121 completed successful projects for me. From their stats page, we can see that 21 loans that entered the default state have subsequently repaid capital and interest in full, so those weren't left to fester. I'd certainly like more frequent updates on the remaining 33 that are still in default (or at least for the 19 of them that I'm in), but I understand that there's little point when there's no real progress to report, which doesn't necessarily mean that they aren't doing anything. I'm interested to see how they do handle their first crystallised loss, particularly to see whether they forgo any of their own fees, which some of the better platforms do in loss situations, or whether they stick to the letter of the contracts to maximise platform profits. Forgoing their fees would go a long way to appease lenders, and will help me determine my future lending amounts with them. I might be a bit thick here but I cant find the stats page you mention above ! Whereabouts on the CP site ? There's a link to it under the About section at the bottom of most pages. The address is www.crowdproperty.com/statistics
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morris
Member of DD Central
Posts: 272
Likes: 155
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Post by morris on Nov 29, 2023 14:53:20 GMT
As far as I know, but happy to be corrected if not, CP have never admitted that a loan has failed. Any that have are just left festering. Cetainly the case with all my loans. At my age I would be happy to take whatever haircut is coming just to clear the decks for the executors of my estate. The total amount outstanding is not large and is less than total interest received from CP but it's a Hotel California platform. They've certainly admitted, via the loan updates, that there will be a loss on one of the loans that I'm in. They gave a detailed update once it was known that there would be a loss, but without figures as these couldn't be determined at that time. I've had a couple of short updates on the progress since. Even if this resulted in a complete capital loss, which seems unlikely (but difficult to be sure as costs continue to mount up), it only represents 2.5% of my total CP profit so far. It would be 1 project loss verses 121 completed successful projects for me. From their stats page, we can see that 21 loans that entered the default state have subsequently repaid capital and interest in full, so those weren't left to fester. I'd certainly like more frequent updates on the remaining 33 that are still in default (or at least for the 19 of them that I'm in), but I understand that there's little point when there's no real progress to report, which doesn't necessarily mean that they aren't doing anything. I'm interested to see how they do handle their first crystallised loss, particularly to see whether they forgo any of their own fees, which some of the better platforms do in loss situations, or whether they stick to the letter of the contracts to maximise platform profits. Forgoing their fees would go a long way to appease lenders, and will help me determine my future lending amounts with them. This sounds like a different loan to the one I am in where an estimated 14% capital loss has been given.
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Post by Ace on Nov 30, 2023 8:24:44 GMT
Another 2 projects are in default, so now 35 (56 defaulted, of which 21 have since fully repaid).
Is worth noting that some of those defaulted loans have made partial repayments. I received a repayment yesterday of 64% of the capital plus interest for a loan that is currently 13 months late. Of my 19 defaulted loans, 6 have made partial capital repayments.
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