ablender
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Post by ablender on Oct 9, 2015 11:54:40 GMT
Hi,
Can anyone please tell me what the following mean?
These refer to the live loan page on Saving Stream.
1) what does the green highlight mean?
2) what does negative availability mean?
3) what does negative remaining time mean?
I did ask these questions through the contact form at Saving stream but I did not get any reply.
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Post by dodgeydave on Oct 9, 2015 11:57:45 GMT
1 ) Available for purchase
2 ) Means it is over subscribed
3 ) it has run over the repayment date
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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 Oct 9, 2015 11:58:18 GMT
Hi, Can anyone please tell me what the following mean? These refer to the live loan page on Saving Stream. 1) what does the green highlight mean? 2) what does negative availability mean? 3) what does negative remaining time mean? I did ask these questions through the contact form at Saving stream but I did not get any reply. Green highlight means amount available to invest, either original primary availability or existing parts being sold on the market (no difference) Negative means two people have tried to buy the sum available at the same time so loan is oversubscribed. Its a glitch but something to be aware of because if you list a part for same on a negative loan it wont be visible to buyers. Also another glitch can lead to loan parts getting stuck, ie sold but no cash recieved which sometimes requires manual intervention from SS Negative time means the loan has gone past its original redemption (or current extended) date without repayment often because of delays in refinancing/legals. Not an issue currently as SS continues to pay interest. Generally they either repay or get an extension making time positive again. Under new structure unless borrower stumps up for extension interest then no guarentee interest will be paid until redemption. No current loans are under this structure however. They are a small team and dont always pick up comms in a timely manner. Ask here and youll usually get several quick responses as we all respond at once  Helpful lot
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Post by jackpease on Oct 9, 2015 11:58:48 GMT
Mods - this'd make a good sticky!
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adrianc
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Post by adrianc on Oct 9, 2015 16:00:40 GMT
because if you list a part for same on a negative loan it wont be visible to buyers. I've never tried, but I'd have expected that it'd "sell" instantly, just filling some of that earlier over-sell?
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sam i am
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Post by sam i am on Oct 9, 2015 16:38:42 GMT
In my experience it does sell immediately but can get stuck in the system, so a little patience or an email to SS is usually required.
The much anticipated new website will supposedly stop both negative availability and stuck sales.
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mikes1531
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Post by mikes1531 on Oct 9, 2015 16:52:05 GMT
because if you list a part for same on a negative loan it wont be visible to buyers. I've never tried, but I'd have expected that it'd "sell" instantly, just filling some of that earlier over-sell? It should, because there's a disappointed buyer and another willing seller. But it doesn't because the system wasn't designed to deal with that situation. Manual intervention by SS is required. SS probably would spot the problem eventually and deal with it, but if the people involved wish to speed up the correction they'll bring the situation to SS's attention with an email or phone call.
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ablender
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Post by ablender on Oct 10, 2015 10:28:07 GMT
Thank you all for your replies. This is much clearer now. I came here from Funding Circle after their forced change in the way they operate.
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gt94sss2
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Post by gt94sss2 on Oct 10, 2015 17:24:48 GMT
Negative time means the loan has gone past its original redemption (or current extended) date without repayment often because of delays in refinancing/legals. Not an issue currently as SS continues to pay interest. Generally they either repay or get an extension making time positive again. Under new structure unless borrower stumps up for extension interest then no guarentee interest will be paid until redemption. No current loans are under this structure however. I must have missed the bit in bold somewhere - are you sure? If so, that just adds another reason to the list I had for wishing SS hadn't changed their structure..
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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 Oct 11, 2015 1:15:27 GMT
Negative time means the loan has gone past its original redemption (or current extended) date without repayment often because of delays in refinancing/legals. Not an issue currently as SS continues to pay interest. Generally they either repay or get an extension making time positive again. Under new structure unless borrower stumps up for extension interest then no guarentee interest will be paid until redemption. No current loans are under this structure however. I must have missed the bit in bold somewhere - are you sure? If so, that just adds another reason to the list I had for wishing SS hadn't changed their structure..
Old If a loan went into Default, Lendy Ltd continued to pay interest at the normal rate of 1% per month. New SS Lenders will continue to earn interest, but it will accrue, rather than be paid on a monthly basis out of Lendy Ltd’s working capital. Once the loan is settled, interest and capital will be paid at that point to the extent that it is fully recovered (then the Provision Fund should step in to cover shortfalls subject to our discretion). It will still be possible to sell out of a defaulting loan, however, any interest earnt after the default has been declared will remain on your accrual account for redemption on settlement. The purpose of this is to prevent a cash-flow risk to Lendy Ltd i.e paying out interest that hasn’t been collected from the borrower could create a credible risk to the platform.
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Helpful lot
