ablender
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Post by ablender on Nov 20, 2015 20:00:05 GMT
Looks like the Aston Martin just repaid in full. Well done again FS! The unanswered question is whether there was a sale that generated sufficient proceeds or whether fundingsecure contributed some of their own funds to keep their investors happy and their recovery statistics looking good. I think they say when that happens. It would be more points for them to show that they care for their lenders - nothing to hide, as I see it.
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mikes1531
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Post by mikes1531 on Nov 21, 2015 0:22:02 GMT
The unanswered question is whether there was a sale that generated sufficient proceeds or whether fundingsecure contributed some of their own funds to keep their investors happy and their recovery statistics looking good. I think they say when that happens. It would be more points for them to show that they care for their lenders - nothing to hide, as I see it. Perhaps. But in the past they've also said when an auction or other sale produced sufficient proceeds. (See the bassoon loan, #1329465305, for example.) This time they seem to have said nothing, so we only can speculate about what really happened.
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ilmoro
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'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 Nov 28, 2015 18:10:38 GMT
The print has been recovered in full. FundingSecure have redeemed the loan themselves and entered into a repayment plan with the borrower to retain their artwork. Hows that for an interpretation of FCA fairness rules!
Well done
Edit The other two outstanding unredeemed loans have been sent for auction.
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SteveT
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Post by SteveT on Dec 11, 2015 13:43:44 GMT
Diamond Cherry Earrings (4252665471) and Diamond Bracelets (3048452648) both now recovered and repaid in full  |
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ilmoro
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'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 Dec 11, 2015 15:00:19 GMT
Diamond Cherry Earrings (4252665471) and Diamond Bracelets (3048452648) both now recovered and repaid in full Fantastic thats the last of my defaults sorted. Well done fundingsecure. However, default notice sent on 1553128151
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ilmoro
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'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 Jan 7, 2016 15:15:29 GMT
1278732235 Oil Painting now defaulted - keeping the artistic trend for failure going
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mikes1531
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Post by mikes1531 on Jan 7, 2016 16:01:05 GMT
1278732235 Oil Painting now defaulted - keeping the artistic trend for failure going Why have fundingsecure treated this loan differently than 1068826052 (Old Master Painting) and 2590226792 (Carpets)? In this case there was "21/12/2015 -- Borrower has confirmed their intention to renew the loan. We await for funds to be received." And the default notice was sent three days later. "18/12/2015 -- Borrower has requested to renew. We are awaiting payment of interest." As of today, 20 days later, there's no note saying a default notice has been sent, so I presume it hasn't. With 2590226792, there was "24/12/2015 -- Borrower has confirmed intention to renew - funds awaited" and also no indication that a default notice has been sent.
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ilmoro
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'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 Jan 7, 2016 16:11:26 GMT
1278732235 Oil Painting now defaulted - keeping the artistic trend for failure going Why have fundingsecure treated this loan differently than 1068826052 (Old Master Painting) and 2590226792 (Carpets)? In this case there was "21/12/2015 -- Borrower has confirmed their intention to renew the loan. We await for funds to be received." And the default notice was sent three days later. "18/12/2015 -- Borrower has requested to renew. We are awaiting payment of interest." As of today, 20 days later, there's no note saying a default notice has been sent, so I presume it hasn't. With 2590226792, there was "24/12/2015 -- Borrower has confirmed intention to renew - funds awaited" and also no indication that a default notice has been sent. May be its because FS & borrowers on the other loans are in contact, and on this one they arent? Wonder if the Carpets are the same borrower as Persian Carpets which is also still outstanding. 2198963072 London Parking space also has an intention to renew from 24/12 but nothing happened yet. Hopefully we're not tempting fate and FS Thursdays will rival FC Thursdays as bad news day  (Well not for me as Ive dumped all my FC now, defaults excepted so would prefer for FS not to start)
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pom
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Post by pom on Jan 7, 2016 17:13:30 GMT
I asked about that via live help yesterday or the day before....apparently the borrowers been overseas for Xmas etc...which didn't sound too promising to me. Annoyingly it's the last thing I have in FS...and if the SM had come along a little earlier I'd have sold out then.
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kermie
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Post by kermie on Jan 7, 2016 20:48:34 GMT
Is it just me, or would other lenders find it useful if fundingsecure emails indicated which loans were repaid/defaulted/etc? |
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mikes1531
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Post by mikes1531 on Jan 7, 2016 21:41:05 GMT
Is it just me, or would other lenders find it useful if fundingsecure emails indicated which loans were repaid/defaulted/etc? : It is not just you. I've wanted that info for years! I think I've said so to fundingsecure, but I don't think they've ever suggested they might consider supplying it. I haven't a clue why not. As it is, the emails are pretty close to useless.
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Investboy
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Trying to recover from P2P revolution
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Post by Investboy on Jan 8, 2016 13:16:40 GMT
Is it just me, or would other lenders find it useful if fundingsecure emails indicated which loans were repaid/defaulted/etc? : It is not just you. I've wanted that info for years! I think I've said so to fundingsecure , but I don't think they've ever suggested they might consider supplying it. I haven't a clue why not. As it is, the emails are pretty close to useless. Yep, useless atm. What all those emails need at least is: loan id, title, your exposure/investment, link to loan For sold loans: how much was sold: amount and percentage. I don't think it is much to ask nor difficult to implement.
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locutus
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Post by locutus on Jan 8, 2016 14:12:39 GMT
I'm new to FS. Is there any easy way to see what loans have defaulted?
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ilmoro
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'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 Jan 8, 2016 14:22:00 GMT
I'm new to FS. Is there any easy way to see what loans have defaulted? Go to past loans under investment menu, change to display 100 loans in list, click on defaulted column until it shows an entry. Entries will be in this order Unreedemed - recovery process begun Recovered - full recovery from asset sale Defaulted - partial recovery (unless FS dipped into pocket) Click on individual loan to read specifics
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spyrogyra
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Post by spyrogyra on Jan 15, 2016 18:24:13 GMT
I asked about that via live help yesterday or the day before....apparently the borrowers been overseas for Xmas etc...which didn't sound too promising to me. Annoyingly it's the last thing I have in FS...and if the SM had come along a little earlier I'd have sold out then. This Xmas/NY story couldn't be genuine as the latest update proved. No matter abroad or home, nowadays it's so easy to keep up with payments (if you have the cash).
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(Well not for me as Ive dumped all my FC now, defaults excepted so would prefer for FS not to start)
