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Post by Ace on Sept 26, 2023 15:30:23 GMT
For those interested, there are quite a few loan updates on the platform today. Select Invest->Updates on the platform to see a list.
I thought it was worth a new thread here since the platform does not provide update notifications.
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Post by stankroenke1 on Sept 26, 2023 20:52:10 GMT
Where can I find info on what senior and junior loan mean ?
I can’t find any mention of it anywhere. I know the % rate is different but can’t find out why.
Thanks to anyone who can answer.
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Post by Ace on Sept 26, 2023 21:10:42 GMT
Where can I find info on what senior and junior loan mean ? I can’t find any mention of it anywhere. I know the % rate is different but can’t find out why. Thanks to anyone who can answer. Senior loans are repaid in priority to junior loans, as indicated by the LTVs. EDIT: From today's Senior loan details: " Please keep in mind that this loan will rank priority to the junior loan where capital due on the senior loan ranks ahead of capital due on the junior loan, which both rank ahead of interest due to either loan."
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Post by overthehill on Sept 27, 2023 7:56:13 GMT
Where can I find info on what senior and junior loan mean ? I can’t find any mention of it anywhere. I know the % rate is different but can’t find out why. Thanks to anyone who can answer. Senior loans are repaid in priority to junior loans, as indicated by the LTVs. EDIT: From today's Senior loan details: " Please keep in mind that this loan will rank priority to the junior loan where capital due on the senior loan ranks ahead of capital due on the junior loan, which both rank ahead of interest due to either loan."
And as the interest is retained, it only becomes relevant after the loan expires.
There were a few issues yesterday as the junior loan was showing twice and the previous day I never got an email about the loan.
Inclusion of the accrued interest in the %LTV to the point the loan is likely to expire or repay or become delinquent is underrated and many platforms like to keep it from the lender's conscientiousness. This is where LLI excels and Capitalrise does it as well.
A delinquent loan is going to add a minimum of 10% pa to the final %LTV, not much headroom when the initial %LTV is 70%
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Post by Ace on Sept 28, 2023 19:33:21 GMT
An update for overdue loan The W*******s 2, states that it is expected to repay in full tomorrow.
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nick
Member of DD Central
Posts: 1,055 
Likes: 825
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Post by nick on Sept 28, 2023 20:00:21 GMT
An update for overdue loan The W*******s 2, states that it is expected to repay in full tomorrow. Looks like we are out of the woods on this one....
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Post by Ace on Oct 16, 2023 15:31:51 GMT
3 loan updates today, including a small repayment and an 8 month extension for H*******d S****t.
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