oldgrumpy
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Post by oldgrumpy on Oct 12, 2015 12:40:21 GMT
FC were very keen to point out that no 12 month, A+ loan has defaulted, and depending on the size of the loan one wonders what they might do to ensure that remains the case... I put as much store by that as I do in the fact that no E has yet defaulted. I've no clue why anyone would lend money unsecured at 6% without at least the safety net of a substantial provision fund. I also bear in mind that it is 5% after FC take their 1% off (the same as they take their 1% off an 18+% E loan). Totally disproportionate from an A+ loan's base rate. And it should be thought of as 4.4% after allowing for default possibility (and one of my A+ loans went pop recently!) " ...if only so many loans didn't wind up as alleged A+s (which even at 8% don't look very tempting....
I've seen no answer yet as to why a former C borrower is now rated A+ for his replacement loan. #16297 (As the questioner said to the borrower, FC won't tell us).
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Post by GSV3MIaC on Oct 12, 2015 12:46:41 GMT
FC were very keen to point out that no 12 month, A+ loan has defaulted, and depending on the size of the loan one wonders what they might do to ensure that remains the case... Apart from 8187 you mean .. oh, did they fail to notice that one?!?
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arbster
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Post by arbster on Oct 12, 2015 13:17:42 GMT
FC were very keen to point out that no 12 month, A+ loan has defaulted, and depending on the size of the loan one wonders what they might do to ensure that remains the case... Apart from 8187 you mean .. oh, did they fail to notice that one?!? According to the loan book, that was a 60-month loan.
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Post by GSV3MIaC on Oct 12, 2015 14:01:25 GMT
Hmm, true .. I wonder where I got the notion it was for 6-12? Guess we;ll let them off that one then ..
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arbster
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Post by arbster on Oct 12, 2015 15:36:36 GMT
New loan available - £82k A-rated loan to a company that was rated C as recently as February. Amazing how much confidence you can gain in a Subway franchise over such a short period.
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adrianc
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Post by adrianc on Oct 12, 2015 15:36:39 GMT
FC were very keen to point out that no 12 month, A+ loan has defaulted, and depending on the size of the loan one wonders what they might do to ensure that remains the case... Given that there's only been 250 12mo or less A+ loans - total - and over 100 of those have been interest-only fixed-rate property... And, of the 144 SME loans, 85 of them still have a chance to default. Only 59 have fully repaid so far. Us poor public have only been exposed to 78 of the 144 loans - the rest have been taken up by the big boys, who only passed on four of the ones they were offered. Only one of those has repaid so far. So, if you own any of 8730, 8919 or 15699, they've gotta be the main suspects to be first...
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SteveT
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Post by SteveT on Oct 12, 2015 16:20:48 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon
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arbster
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Post by arbster on Oct 12, 2015 16:25:02 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon Funny you should mention that - I just got off the phone with FC and asked whether the deal flow was related to the backlog of loans. Apparently there was a technical issue that needed resolving... there should be more loans along over the next few days once the backlog technical issue is dealt with.
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SteveT
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Post by SteveT on Oct 12, 2015 16:32:26 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon Funny you should mention that - I just got off the phone with FC and asked whether the deal flow was related to the backlog of loans. Apparently there was a technical issue that needed resolving... there should be more loans along over the next few days once the backlog technical issue is dealt with. The technical issue is that they tried "stick" (shutting off loan flow) over the weekend and that didn't work. So it's back to "carrot" then.
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acky
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Post by acky on Oct 12, 2015 16:36:45 GMT
Funny you should mention that - I just got off the phone with FC and asked whether the deal flow was related to the backlog of loans. Apparently there was a technical issue that needed resolving... there should be more loans along over the next few days once the backlog technical issue is dealt with. The technical issue is that they tried "stick" (shutting off loan flow) over the weekend and that didn't work. So it's back to "carrot" then. I'll need a juicier carrot than 1% CB on a 60mo. supposedly A or A+ loan, but it seems other donkeys are more peckish as the loans are slowly filling.
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SteveT
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Post by SteveT on Oct 12, 2015 16:45:32 GMT
Indeed. Spot the moment CB was added to 16302:  |
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TitoPuente
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Post by TitoPuente on Oct 12, 2015 16:56:09 GMT
I am expecting the announcement that from now on all loans are going to be A and A+ randomly. All other categories have proven to be superfluous and a total distraction for lenders and ping-pongers.
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bigfoot12
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Post by bigfoot12 on Oct 12, 2015 16:56:50 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon Anyone know if those who'd already bid get the cashback?
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TitoPuente
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Post by TitoPuente on Oct 12, 2015 16:58:23 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon Anyone know if those who'd already bid get the cashback? Yes, they do.
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SteveT
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Post by SteveT on Oct 12, 2015 16:58:45 GMT
1% CB appears to have been added to the 3 big loans ending tomorrow afternoon Anyone know if those who'd already bid get the cashback? Yes, I presume so. Certainly that's been the case when they've added CB mid-way through property loan auctions, and I reckon they've no way of doing otherwise on draw-down (without a major system rewrite).
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