Kuflink CEO on Financial Thing livestream tonight

Hmmmmm I'm a bit more caushous, there was a lot of questions in the chat not addressed, a reference to the negative/ concerned posts on forums was good to hear, a bit lacking in any detail, and but Good to be acknowledged. Also I believe that the can kicking explanations may now have some detail, not what appears to be a poor cut n past explanation. But appearing in public and chatting about stuff is definatly a positive. 

I did watch it. Despite everything and not having investments anymore, I would still like to know the answers to my questions, not least because it would give a pointer as to whether the FCA think what Kuflink have been doing behind the scenes and without investors knowledge is acceptable and allowed at other platforms as well.

My complaints were about communications on defaults, not the defaults themselves.

I accused them of mis-selling one loan & encouraging small repayments from borrowers to prevent Kuflink having to pass on extra interest payments to lenders.

I asked them why they were retrospectively changing data on the Loan Offers and waiting to put updates out until after the loan was filled. About misrepresenting loan end dates which they knew would not be met because the RICS valuation told them that.

It then became about the hidden RICS valuations investors can't access and the loan offers which highlighted (put center stage!) only positives from the RICS valuations as a way to make people invest. Investments nobody would have made if they saw the truth on the loan offers.

It then became about the hidden extra payments to borrowers and extra securities investors knew nothing about. And still don't.

So, he would have liked communications to be better....... never replied to me about anything. Empty words!

So he thinks he has to way up "how much investors can be told". We're the bleeping investors! Nothing should be off limits. I notice CP even give out the name and company name of the borrower.

So he believes all loans will payback in full. Why not pay out compound interest at the end of the official loan period then? Put investors money where his mouth is.

But for me the biggest irritation of all for me was that he thinks investors only get worried about defaults and that a few reassuring words makes it alright. Investors accept that they might lose money from time to time, but I want to lose it with a company that implements the FCA guidelines and responds to direct questions with direct answers.

I think we have all lost more money on dodgy platform behavior than through genuine defaults in the normal course of business.

My updates appearing on near term or extended loans this week have become a bit more detailed than before. It appears they are taking to heart the importance of this in light of recent criticisms.