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Post by trilby on Jun 20, 2016 8:51:13 GMT
According to Friday's update, PBL033 has had "interest and fees received, to extend for 3 months" yet the Remaining Term currently stands at 10 days - surely it should have been changed to 100+ days?
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bg
Member of DD Central
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Post by bg on Jun 20, 2016 9:06:10 GMT
According to Friday's update, PBL033 has had "interest and fees received, to extend for 3 months" yet the Remaining Term currently stands at 10 days - surely it should have been changed to 100+ days? I asked them about this sort of things a couple of weeks ago (whether the loan remaining term is the end date of the original loan or the amount of time remaining on the latest interest payment) and they replied to say that this is:- "Different from loan to loan, we are trying to be more consistent with it. The only customers that are not paying interest, have been defaulted unless there is an excellent case for not doing so i.e a sale or refinance is imminent and there is demonstrably enough equity within the property to pay our interest on redemption." It's probably a resources thing...i think it's in their interest to be consistent and have days remaining up to the interest term (and not the original loan term). I would think if PBL033 had the number of days revised up there would be no availability on the market within hours for this loan.
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Post by trilby on Jun 21, 2016 13:18:28 GMT
Glad to see the remaining term has gone up to 91 days today!
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grahamg
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Post by grahamg on Sept 2, 2016 16:31:51 GMT
I notice that there is now a prospective 9 month loan at 10% on AC , Same company and very similar place name, but no documents yet
Does anyone think that this is exactly the same property
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Sept 2, 2016 17:53:30 GMT
Didn't know AC was a "major bank".
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Sept 22, 2016 13:02:24 GMT
Term extended by 3 months & time remaining updated on site (from yesterday)
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Post by andrewholgate on Sept 23, 2016 7:57:29 GMT
Didn't know AC was a "major bank". Nice to be compared in size but I don't want the baggage. For clarity, AC did look at the transaction and we were on track to lend. However, in order final round of due diligence the transaction didn't pass our criteria and we have cancelled the lend. I'm not at liberty to say why it failed, so please don't ask.
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Post by andrewholgate on Sept 23, 2016 14:10:15 GMT
Nice to be compared in size but I don't want the baggage. For clarity, AC did look at the transaction and we were on track to lend. However, in order final round of due diligence the transaction didn't pass our criteria and we have cancelled the lend. I'm not at liberty to say why it failed, so please don't ask. Thanks for that feedback. Interesting, a (supposed) 36% LTV doesn't get through AC's due dilligence processes and this is one of the more solid looking loans on the ss platform. I never mentioned amount or LTV
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Steerpike
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Post by Steerpike on Sept 23, 2016 14:13:15 GMT
Thanks for that feedback. Interesting, a (supposed) 36% LTV doesn't get through AC's due dilligence processes and this is one of the more solid looking loans on the ss platform. I never mentioned amount or LTV Oooh, I like guessing games.
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Post by andrewholgate on Sept 23, 2016 14:54:59 GMT
Charades doesn't work so well via the medium of a message board.
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Steerpike
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Post by Steerpike on Sept 23, 2016 15:09:22 GMT
Mmmm, thinks, this may be a clue.
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toffeeboy
Member of DD Central
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Post by toffeeboy on Sept 23, 2016 17:28:21 GMT
Charades doesn't work so well via the medium of a message board. Is it a book?
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twoheads
Member of DD Central
Programming
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Post by twoheads on Feb 2, 2017 12:40:56 GMT
Currently on a short break.
Just tuned into the net and seen that 90 days has been added to this one this morning. It's gone from -34 days to +56 days.
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am
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Post by am on Feb 2, 2017 12:58:26 GMT
Currently on a short break.
Just tuned into the net and seen that 90 days has been added to this one this morning. It's gone from -34 days to +56 days. But (as yet) no loan update explaining the situation. Did the borrower provide 3 months interest a month ago, and it's taken SS this long to update the loan duration, or did the borrower pay a month's interest more or less on time, and two more months in advance a few days ago, or did the borrower pay a month's interest a few days late, and two more months in advance at the same time? Does anyone know why SS want shot of this loan? ("We have asked the borrower to refinance elsewhere before the new year.") As far as I know it's less troubled by far than a dozen or so other loans.
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mikes1531
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Post by mikes1531 on Feb 3, 2017 2:49:16 GMT
Just tuned into the net and seen that 90 days has been added to this one this morning. It's gone from -34 days to +56 days. I think we've just witnessed something unprecedented -- a loan event that has turned out to be better than expected! Last update for this loan: 23/Dec/16 "Expecting funds for a 1-month extension to give the borrower time to refinance with another lender."
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