derbyfella
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Post by derbyfella on Oct 20, 2019 17:13:33 GMT
probably when they have a new loan to offer
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upperdeane
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Post by upperdeane on Oct 23, 2019 9:45:55 GMT
probably when they have a new loan to offer The last pipeline report months ago did have a few WIP prospects which at least could be commented on even if they will not be offered as loans any longer. I'm currently assuming the worst that MT are running down the loan book, dealing with a few problem loans and will be shutting up shop for future lending. I hope I'm wrong and they can sort things out, but they need enough lenders and enough borrowers to make their business work. I'm personally not convinced they have enough of either at the moment.
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m2btj
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Post by m2btj on Oct 23, 2019 11:31:00 GMT
probably when they have a new loan to offer The last pipeline report months ago did have a few WIP prospects which at least could be commented on even if they will not be offered as loans any longer. I'm currently assuming the worst that MT are running down the loan book, dealing with a few problem loans and will be shutting up shop for future lending. I hope I'm wrong and they can sort things out, but they need enough lenders and enough borrowers to make their business work. I'm personally not convinced they have enough of either at the moment. MT would be better adopting a Kuflink style operation. Small, manageable loans with a real prospect of being paid back in full. The days of £1m plus development loans appear to be over for the time being. These loans are fraught with dangers & valuations are often wildly exaggerated by valuers with little or no knowledge of an area. These so called 'desktop valuations' are little more than guesstimates! MT have much to be commended for & I certainly believe they have a place in the future of P2P.
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upperdeane
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Post by upperdeane on Oct 23, 2019 21:22:24 GMT
The last pipeline report months ago did have a few WIP prospects which at least could be commented on even if they will not be offered as loans any longer. I'm currently assuming the worst that MT are running down the loan book, dealing with a few problem loans and will be shutting up shop for future lending. I hope I'm wrong and they can sort things out, but they need enough lenders and enough borrowers to make their business work. I'm personally not convinced they have enough of either at the moment. MT would be better adopting a Kuflink style operation. Small, manageable loans with a real prospect of being paid back in full. The days of £1m plus development loans appear to be over for the time being. These loans are fraught with dangers & valuations are often wildly exaggerated by valuers with little or no knowledge of an area. These so called 'desktop valuations' are little more than guesstimates! MT have much to be commended for & I certainly believe they have a place in the future of P2P. I really hope MT do succeed in the future and indeed the Kuflink style maybe suitable for them. However I just can't understand why absolutely no pipeline updates or any successful loans have been offered for several months now. Fingers crossed this starts to improve soon.
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Post by mattygroves on Oct 23, 2019 22:35:35 GMT
MT would be better adopting a Kuflink style operation. Small, manageable loans with a real prospect of being paid back in full. The days of £1m plus development loans appear to be over for the time being. These loans are fraught with dangers & valuations are often wildly exaggerated by valuers with little or no knowledge of an area. These so called 'desktop valuations' are little more than guesstimates! MT have much to be commended for & I certainly believe they have a place in the future of P2P. I really hope MT do succeed in the future and indeed the Kuflink style maybe suitable for them. However I just can't understand why absolutely no pipeline updates or any successful loans have been offered for several months now. Fingers crossed this starts to improve soon. Maybe they are being careful about what is offered and rejecting most of the borrowers before we get to see them ? If we are serious about only wanting good loans then we have to be prepared for far fewer to be offered. I’d much rather have quality over quantity.
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upperdeane
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Post by upperdeane on Oct 24, 2019 8:08:22 GMT
I really hope MT do succeed in the future and indeed the Kuflink style maybe suitable for them. However I just can't understand why absolutely no pipeline updates or any successful loans have been offered for several months now. Fingers crossed this starts to improve soon. Maybe they are being careful about what is offered and rejecting most of the borrowers before we get to see them ? If we are serious about only wanting good loans then we have to be prepared for far fewer to be offered. I’d much rather have quality over quantity. Maybe, time will tell. I think MT need to make some sort of statement soon updating lenders in the light of FS situation and reassuring them of MT stability etc. Some MT lenders will be even more nervous now since another P2P company goes to the wall.
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Post by marcusponds on Oct 24, 2019 8:44:33 GMT
MT makes its own money from a slice of the interest payments doesn't it? With so many loans in default - ie paying nothing - and so much recovery action, their P&L must be shocking at present.
I hope I'm wrong but I am really worried about the state of the company.
Maybe they let the new business person go.
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Post by mrclondon on Oct 24, 2019 14:13:06 GMT
Its perhaps worth remembering that its half term week in some places, incl IoM I believe, and that the principals of small family businesses do need to take some time away from the coalface to recharge batteries, and allow broader perspectives a chance to develop.
I have no doubt MT will respond in some shape or form to the themes raised in recent posts on this thread in due course, but I consider that the lack of a response short term would be entirely understandable.
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bramhall17
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Post by bramhall17 on Oct 24, 2019 15:17:52 GMT
Given the febrile atmosphere as yet another P2P platform bites the, dust I think they need to 1) reassure investors re continuity (if they can) 2) score some wins now on recoveries. I think only then will they be able to have a decent chance of successfully marketing new 'safer' loans.
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sj
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Post by sj on Oct 27, 2019 11:31:54 GMT
I can't see many people keen to invest in any new loans until we see some significant action on recoveries, and funds actually flowing back to the lenders.
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oldtimer
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Post by oldtimer on Oct 27, 2019 11:55:29 GMT
I can't see many people keen to invest in any new loans until we see some significant action on recoveries, and funds actually flowing back to the lenders. I am afraid I have to agree. Much as I like MT I sold all my loans a couple of weeks ago and only have money tied up in defaults now.
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Post by zzr600 on Nov 8, 2019 15:57:37 GMT
New loans = cash-flow to keep the platform running.
If all you have a defaulted loans, then no cash-flow, just expenses. Probably what killed Lendy
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