webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on May 19, 2015 18:15:56 GMT
Feel free to paste the PF page from the website here:
19.5.2015
Saving Stream Provision Fund
Security held:
£53,840,000
Live loan book:
£26,084,250
Provision fund balance:
£521,685
Overview
Stress test against largest loan
I assume this is PBL033?
OMV valuation: £4,790,000 (Open market value)
Loan value: £3,110,000
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,321 
Likes: 11,527
|
Post by ilmoro on May 19, 2015 18:44:13 GMT
Stress test against largest loan I assume this is PBL033?OMV valuation: £4,790,000 (Open market value) Loan value: £3,110,000 Its PBL 25
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on May 20, 2015 11:20:04 GMT
Stress test against largest loan I assume this is PBL033?OMV valuation: £4,790,000 (Open market value) Loan value: £3,110,000 Its PBL 25 So it is. But why has it not been replaced by PBL033 as that is bigger?
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,321
Likes: 11,527
|
Post by ilmoro on May 20, 2015 11:26:40 GMT
So it is. But why has it not been replaced by PBL033 as that is bigger? Is it? Only 2.5mil at moment so technically smaller in terms of sum outstanding to SS, also not drawn down so may change when cash actually changes hands.
|
|
gb007
Member of DD Central
Posts: 131
Likes: 74
|
Post by gb007 on May 27, 2015 13:10:34 GMT
Saving Stream Provision Fund 27/05/15
Security held:
£62,940,000
Live loan book:
£29,544,250
Provision fund balance:
£590,885
Stress test against largest loan
OMV valuation: £4,790,000 (Open market value)
Loan value: £3,110,000
Without Provision Fund
- In the event of disposal, the property is required to fetch 64.9% of OMV.
With Provision Fund
- In the event of disposal, the property is required to fetch 52.6% of OMV.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Jun 5, 2015 18:09:40 GMT
5.6.2015:
Security held:
£62,740,000
Live loan book:
£29,394,250
Provision fund balance:
£587,885
Stress test against largest loan
OMV valuation: £4,790,000 (Open market value)
Loan value: £3,110,000
Without Provision Fund
In the event of disposal, the property is required to fetch 64.9% of OMV.
With Provision Fund
In the event of disposal, the property is required to fetch 52.7% of OMV.
|
|
gb007
Member of DD Central
Posts: 131
Likes: 74
|
Post by gb007 on Jun 19, 2015 12:34:58 GMT
19.06.15
Security held:
£61,230,000
Live loan book:
£28,553,250
Provision fund balance:
£571,065
Stress test against largest loan
OMV valuation: £4,790,000 (Open market value)
Loan value: £3,110,000
Without Provision Fund
In the event of disposal, the property is required to fetch 64.9% of OMV.
With Provision Fund
In the event of disposal, the property is required to fetch 53.0% of OMV.
|
|
Investor
Member of DD Central
Posts: 662
Likes: 590
|
Post by Investor on Jun 19, 2015 12:59:54 GMT
So if "Every time we make a new loan, a portion of the loan fee will be paid into the Provision Fund with the amount dependent on the size of the loan.", and if to date there have been no calls to access the provision fund (no un-recovered defaults), why has the provision fund balance gone down twice since May 27th?
Should there also be a line "Every time we close out a loan we might nick a bit back out of the provision fund to rebalance it back to our 2% target"
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Jun 19, 2015 13:15:27 GMT
So if " Every time we make a new loan, a portion of the loan fee will be paid into the Provision Fund with the amount dependent on the size of the loan.", and if to date there have been no calls to access the provision fund (no un-recovered defaults), why has the provision fund balance gone down twice since May 27th? Should there also be a line "Every time we close out a loan we might nick a bit back out of the provision fund to rebalance it back to our 2% target" There should also be 'a' line, but there's no 'might' about it. They've said they WILL always take the money out when they close out a loan. p2pindependentforum.com/post/47747/thread
|
|
|
|
Post by solicitorious on Aug 27, 2015 17:01:06 GMT
Re Stress Test
SS currently stress test against the largest loan. (PBL33).
However, I would like to point out that the largest loan is not necessarily the most 'vulnerable' loan.
That would appear to be PBL25, with a With-PF LTV of 49.3%. PBL35, PBL27, PBL20 and PBL43 also have a higher required LTV than PBL33.
Nothing to be unduly worried about, I guess, but slightly misleading, nevertheless.
|
|
registerme
Member of DD Central
Posts: 6,620
Likes: 6,433
|
Post by registerme on Aug 27, 2015 17:03:52 GMT
It would also, presumably, be better to test against a number of different scenarios, not one.
|
|
|
|
Post by solicitorious on Aug 27, 2015 17:06:53 GMT
|
|
|
|
Post by supernumerary on Aug 27, 2015 19:56:31 GMT
Thank you for sharing that.
|
|
registerme
Member of DD Central
Posts: 6,620
Likes: 6,433
|
Post by registerme on Aug 27, 2015 20:40:11 GMT
Thank you for sharing that. Yes, that's interesting and useful (though not, precisely, what I was getting at). If you're going to maintain it, and are happy to have it available to all, could we get it stickied?
|
|
|
|
Post by solicitorious on Aug 27, 2015 21:19:56 GMT
I'm happy for it to be sticky. It was released to everyone (after the OK from SS) five months ago, and did have its own thread for a while.
Perhaps put it in a "Useful Info" sticky thread, to allow for further resources to be added in future?
|
|
