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Post by solicitorious on Mar 6, 2015 16:03:49 GMT
This is an interesting and potentially welcome development, as my default list mounts... But it's a bit unclear how these are to be interpreted consistently. For example I have a Red, where the expected recovery is quoted by FC at 55%.  Other Reds are forecast as zero. For my own amusement, for the time being, I am applying average recovery rates of 16.66 : 50.00 : 83.33 to the three categories, giving me something like a ~54% overall forecast recovery rate. Is there any point to any of this, or is it just "PR"?  I would hope that FC start keeping actual stats on these recovery ratings... |
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Post by GSV3MIaC on Mar 6, 2015 16:08:20 GMT
Well it's slightly more use that just 'defaulted', which could mean anything from 'the guarantor will pay as per usual' through 'crappy scrappy .. go whistle'. Since you can't do anything with these loans except pray, it isn't really MUCH use though. If they'd risk band them as D, F- and Z, and let you offer them for sale at discounts up to 99%, it might be more interesting. 8>.
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oldgrumpy
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Post by oldgrumpy on Mar 6, 2015 16:16:10 GMT
crappy scrappy .. go whistle
Today's update on Crappy ap Scrappy reveals that he has two foreign properties, and that he is trading letting out space to store caravans. OK it may not amount to much yet but it does show that Frothy Coffee aren't just forgetting about defaults completely. Breath of Fresh Hare also came up with something minor recently*.
* though the first direct debit failed yesterday; WOT A SURPRISE!!!
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agent69
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Post by agent69 on Mar 6, 2015 17:28:17 GMT
I've been seeing a few rags recently:
1255 (west end restaurant) - did I ever mention I hate restaurants? Rated green as the PG is expected to repay the loan in full. This expected to happen just after England win the world cup
1469 (Refurbishment of new premises) - rated amber with anticipate recovery 70p in the pound
3032 (everyone's favorite scrap metal dealer) - rated red (probably should be bright crimson) with recovery of 10p in the pound expected.
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Post by GSV3MIaC on Mar 6, 2015 17:59:31 GMT
3032 (everyone's favorite scrap metal dealer) - rated red (probably should be bright crimson) with recovery of 10p in the pound expected. Unless the receiver can find a few more foreign properties or the odd Swiss bank account. 8>. It could go the other way of course, if it turns out the foreign properties were nicked.
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adrianc
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Post by adrianc on Mar 6, 2015 18:41:58 GMT
7071 was flagged up as red on the 3rd, and is now green, with a long sob story and alleges pocket change before a promised "discussion" in May to try and keep it within three months astray...
5997 pairs a green with an eponymou's grocer's apo'strophe...
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fasty
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Post by fasty on Mar 6, 2015 20:05:57 GMT
If I'd spotted (reference deleted) I might have "seen red" much sooner!
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Post by loanstar on Mar 6, 2015 20:11:24 GMT
Like most long term investors I have a number of defaults. I certainly welcome the RAG system as Funny Camels appear to be working though all defaults to give a "colour".
I now have far more up to date information than I have had for a long time. Long may it continue,
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oldgrumpy
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Post by oldgrumpy on Mar 6, 2015 20:17:57 GMT
If I'd spotted (reference deleted) I might have "seen red" much sooner! You'd better get rid of that revelation tootsweet. I got booted off the forum for trumpetting too many scraps of information about the brass neck of that Daio-bolical operator!  Isn't it?!!
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fasty
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Post by fasty on Mar 6, 2015 20:30:54 GMT
Hmm well it's very public domain.. Anyhow, not wishing to offend anyone by trumpeting too much information... Perhaps you better snip your reference now, too !
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Post by p2perrr on Mar 6, 2015 20:36:48 GMT
Do I spy a banana skin in OG's quote? Eeeeeuww ... edited already  |
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fasty
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Post by fasty on Mar 6, 2015 20:50:42 GMT
It's been worth the investment. You couldn't make it up; it's been better than a series of plots from The Archers. Full Credit to Funding Circle for continuing to pursue it, though.
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Post by bracknellboy on Mar 6, 2015 21:34:42 GMT
... 3032 (everyone's favorite scrap metal dealer) - rated red (probably should be bright crimson) with recovery of 10p in the pound expected. Unless of course that 10p gets melted down before its ever seen, along with the whistle that somone mentioned earlier.
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Post by GSV3MIaC on Mar 6, 2015 21:35:09 GMT
quote fasty:
"It's been worth the investment. You couldn't make it up; it's been better than a series of plots from The Archers."
Rather depends how much you had invested I think. An amusing story, but not worth more than 2 figures IMO.
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oldgrumpy
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Post by oldgrumpy on Mar 6, 2015 21:41:12 GMT
quote fasty: "It's been worth the investment. You couldn't make it up; it's been better than a series of plots from The Archers." Rather depends how much you had invested I think. An amusing story, but not worth more than 2 figures IMO. You mean two digits???  He's already had them. PS Even if I don't get much of my investment back, I want that th******g b*****d to be stripped of those foreign properties he's been hiding while he refuses to repay his loan!
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Other Reds are forecast as zero.
