acky
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Post by acky on Dec 8, 2015 12:42:57 GMT
Maybe the property WL are being munched by the FC investment trust. They are obliged to randomly select investments on the platform so if the investment mandate extends covers property (as others have pointed out seems to be the case from their prospectus) they are most likely the culprits. Well not in the case of 18025 - this was munched by a mortgage management company formed in 2005 (can't repeat the name on an open forum).
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blender
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Post by blender on Dec 8, 2015 13:27:07 GMT
All three are taken by the same non-fc lender. Of course if FC include property in their SME trust , or have a separate property trust then the WL route seems the one. I do wonder if the days of the partial board are numbered.
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acky
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Post by acky on Dec 8, 2015 14:17:23 GMT
All three are taken by the same non-fc lender. Of course if FC include property in their SME trust , or have a separate property trust then the WL route seems the one. I do wonder if the days of the partial board are numbered. How can you tell from the information available to us that all three were taken by the same lender - I don't see how to access the "auction" pages of 17957 and 18027?
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blender
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Post by blender on Dec 8, 2015 14:27:29 GMT
Find the numbers of other tranches of the same project which are partial and live (probably using the loanbook). Find the partial part though 'loan parts' and right click the loan number to open in a new window the auction page of the partial loan. Open the financial summary for the partial loan. Scroll down to other FC loans and find the reference to the required whole loan. Right click on the loan number to open in a new window the auction page of the whole loan. Click on 'all bids' to see the whole loan bid and the bidder.
Simples!
If you are an IOS user then I cannot help with the procedure.
If you get hopelessly lost with this procedure, as I first did, then shoot up sparks with your wand and someone clever, like GSV, will probably rescue you.
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acky
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Post by acky on Dec 8, 2015 15:03:10 GMT
Find the numbers of other tranches of the same project which are partial and live (probably using the loanbook). Find the partial part though 'loan parts' and right click the loan number to open in a new window the auction page of the partial loan. Open the financial summary for the partial loan. Scroll down to other FC loans and find the reference to the required whole loan. Right click on the loan number to open in a new window the auction page of the whole loan. Click on 'all bids' to see the whole loan bid and the bidder. Simples! If you are an IOS user then I cannot help with the procedure. If you get hopelessly lost with this procedure, as I first did, then shoot up sparks with your wand and someone clever, like GSV, will probably rescue you. Thanks blender. In fact, I'd worked that route out before my post, but there was no hyperlink to 18027 (Hythe 2) on the Financial Summary of 17929 (Hythe 1), so I was then stuck - but trying again now and taking the option to "view on separate page", it magically does show a hyperlink! However the other (first) Property WL (17957) does not show any related auctions in the loanbook, so this trail does not work as far as I can see.
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blender
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Post by blender on Dec 8, 2015 15:27:47 GMT
Find the numbers of other tranches of the same project which are partial and live (probably using the loanbook). Find the partial part though 'loan parts' and right click the loan number to open in a new window the auction page of the partial loan. Open the financial summary for the partial loan. Scroll down to other FC loans and find the reference to the required whole loan. Right click on the loan number to open in a new window the auction page of the whole loan. Click on 'all bids' to see the whole loan bid and the bidder. Simples! If you are an IOS user then I cannot help with the procedure. If you get hopelessly lost with this procedure, as I first did, then shoot up sparks with your wand and someone clever, like GSV, will probably rescue you. Thanks blender. In fact, I'd worked that route out before my post, but there was no hyperlink to 18027 (Hythe 2) on the Financial Summary of 17929 (Hythe 1), so I was then stuck - but trying again now and taking the option to "view on separate page", it magically does show a hyperlink! However the other (first) Property WL (17957) does not show any related auctions in the loanbook, so this trail does not work as far as I can see.Are you sure about that? The right click on a hyperlink to open the original auction page in a new window is a useful spell - not sure if it is intended so let's make it our secret.
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acky
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Post by acky on Dec 8, 2015 15:33:08 GMT
Thanks blender. In fact, I'd worked that route out before my post, but there was no hyperlink to 18027 (Hythe 2) on the Financial Summary of 17929 (Hythe 1), so I was then stuck - but trying again now and taking the option to "view on separate page", it magically does show a hyperlink! However the other (first) Property WL (17957) does not show any related auctions in the loanbook, so this trail does not work as far as I can see.Are you sure about that? The right click on a hyperlink to open the original auction page in a new window is a useful spell - not sure if it is intended so let's make it our secret. - Sorry - senile moment!
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jayjay
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Post by jayjay on Dec 8, 2015 17:51:31 GMT
And to whom did the first tranche of B*******l go to?
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blender
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Post by blender on Dec 8, 2015 18:43:22 GMT
There is a question about that and FC property team are investigating.There is a whiff of 'technical error' in the lack of a linkage on the financial summary page. My guess is that is was a whole loan today and we will not see in the loan book until tomorrow.
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acky
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Post by acky on Dec 8, 2015 20:49:38 GMT
And to whom did the first tranche of B*******l go to? Same buyer as the other 3 recent Property Whole Loans
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adrianc
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Post by adrianc on Dec 8, 2015 23:40:11 GMT
And to whom did the first tranche of B*******l go to? Same buyer as the other 3 recent Property Whole Loans Quick google says they're a fairly newly established (this summer) Irish outfit, with £100m to play with as of the end of last month. No quick proof that there's more than a name shared with the UK mortgage firm, who were taken over last year and changed their name - but that does seem like too much of a coincidence... Interesting...
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blender
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Post by blender on Dec 9, 2015 9:05:40 GMT
There are now 6 whole property loans in the loan book, one of which we cannot see. (Weds 9th)
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metoo
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Post by metoo on Dec 9, 2015 20:13:53 GMT
The WL lender on these property loans is indeed the Irish-registered company referred to on pages 116, 167 and 176 of the Funding Circle SME Income Fund Limited prospectus available from www.fcsmeif.com. So everything becomes clear. |
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bigfoot12
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Post by bigfoot12 on Dec 9, 2015 21:31:40 GMT
So everything becomes clear. Except if they rejected 2 of the Whole Loans that is very strange behaviour!
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metoo
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Post by metoo on Dec 9, 2015 21:54:12 GMT
So everything becomes clear. Except if they rejected 2 of the Whole Loans that is very strange behaviour! "The Company has no ability to independently determine the creditworthiness of a potential borrower or discretion to reject a Credit Asset randomly allocated to it (if it is within the scope of the Investment Policy and any Portfolio Limits, and there is sufficient Available Cash)." This shouldn't explain it because the fund has £150m to invest. Where did the rejects come in the sequence? Do we know the lender on the rejects? It has been suggested the tech team were just practising? Perhaps the fund wasn't ready at first. We shouldn't see any more rejects...
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