cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 16, 2016 22:11:07 GMT
I hate to mention it but I wonder if anyone has taken a look at any other valuations. You might see some familiar wording appearing ( or a form thereoff). Ive found it in a least three recent or pending loans. Furthermore I have also found it in valuations on other platforms. Clearly it is spreading. Yep - see my post earlier on. I think as mentioned by other users, there might be some over reaction here (which I've probably been part of  ). At the ed of the day, it's not effecting the loan or the actual valuation. I would still like to hear the opinions on the subject from savingstream though. You know, they were surprisingly quiet on the forums today, despite this subject dominating the SS subforum.
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max
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Post by max on Feb 16, 2016 22:12:40 GMT
crossed
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ablender
Member of DD Central
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Post by ablender on Feb 16, 2016 22:20:20 GMT
I hate to mention it but I wonder if anyone has taken a look at any other valuations. You might see some familiar wording appearing ( or a form thereoff). Ive found it in a least three recent or pending loans. Furthermore I have also found it in valuations on other platforms. Clearly it is spreading. Yep - see my post earlier on. I think as mentioned by other users, there might be some over reaction here (which I've probably been part of ). At the ed of the day, it's not effecting the loan or the actual valuation. I would still like to hear the opinions on the subject from savingstream though. You know, they were surprisingly quiet on the forums today, despite this subject dominating the SS subforum. How can you say that it does not effect the valuation when it effects the apportionment in different tranches. Remember that without seeing that document we will not even know which land belong to which tranche, and supposedly we are prohibited from seeing that document. I say we have to protest wherever we see such terms.
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ilmoro
Member of DD Central
'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 Feb 16, 2016 22:23:20 GMT
I hate to mention it but I wonder if anyone has taken a look at any other valuations. You might see some familiar wording appearing ( or a form thereoff). Ive found it in a least three recent or pending loans. Furthermore I have also found it in valuations on other platforms. Clearly it is spreading. Yep - see my post earlier on. I think as mentioned by other users, there might be some over reaction here (which I've probably been part of ). At the ed of the day, it's not effecting the loan or the actual valuation. I would just like to hear the opinions on the subject from savingstream though. So you did. Ive only been following the discussion intermitently with amazement at the exitement its caused so missed that one. Seems like standard legal jargon to me (non-lawyer). Im sure SS have agreed with valuer on how the info can be displayed on the site. 15.1 is interesting but we are not investors providing funding to Lendy we are providing funding to the borrower, thats who the landing contract is with, Lendy is just the agent so Im not sure that that clause applies (non-lawyer just reading what it actually says. SS are generally quiet on the forums, they make comment when they feel it is necessary, the recent presence has been usual, though welcome. Probably busy sorting out the next bunch of loans scheduled for end of week
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Liz
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Post by Liz on Feb 16, 2016 22:25:58 GMT
Yep - see my post earlier on. I think as mentioned by other users, there might be some over reaction here (which I've probably been part of ). At the ed of the day, it's not effecting the loan or the actual valuation. I would still like to hear the opinions on the subject from savingstream though. You know, they were surprisingly quiet on the forums today, despite this subject dominating the SS subforum. How can you say that it does not effect the valuation when it effects the apportionment in different tranches. Remember that without seeing that document we will not even know which land belong to which tranche, and supposedly we are prohibited from seeing that document. I say we have to protest wherever we see such terms. I thought it was clear from the valuation, which land was allocated to which loan.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 16, 2016 22:28:09 GMT
I think what ablender is saying, is that without the valuation report we wouldn't know what each tranche consist of, and since we're not 'allowed' to read the valuation, how are we supposed to know!
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Liz
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Post by Liz on Feb 16, 2016 22:29:09 GMT
15.3 Neither the whole nor any part of this Valuation Report may be published, reproduced
or made publicly available via the internet or any other electronic medium.
Clearly it has. Why is this our problem?
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 16, 2016 22:31:20 GMT
It's not our problem, and once agin I think we are over thinking it a bit. It's just the fact the valuation made it to us when the terms specifically state that we shouldn't have them!
These are just templates that the surveyors use; I'm sure a quick word from Lendy Ltd to the surveyor to explain the nature of it's and SS business, and the surveyor wouldn't hesitate changing these terms; it's just strange that Lendy didn't pick up on it before it landed on our laps. After all, would you not have thought that Lendy would have read through the valuation report before posting them online?
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Liz
Member of DD Central
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Post by Liz on Feb 16, 2016 22:32:40 GMT
I really think this is being in the realm of "mountain and molehill"
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Liz
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Post by Liz on Feb 16, 2016 22:36:03 GMT
15.3 Neither the whole nor any part of this Valuation Report may be published, reproduced or made publicly available via the internet or any other electronic medium. Clearly it has. Why is this our problem? It's not our problem, and once agin I think we are over thinking it a bit. It's just the fact the valuation made it to us, when the terms specifically state that we shouldn;t have them! The document would be useless if we couldn't see it,so why would lendy pay for a useless service? Imagine Savingstream saying; we have a valuation but you can't know what's in it, so trust us and don't tell the FCA.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 16, 2016 22:36:14 GMT
I really think this is being in the realm of "mountain and molehill" I begrudgingly Agree 
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ablender
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Post by ablender on Feb 16, 2016 22:48:05 GMT
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ilmoro
Member of DD Central
'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 Feb 16, 2016 22:48:24 GMT
I thank what ablender is saying, is that without the valuation report we wouldn't know what each tranche consist of, and since we're not 'allowed' to read the valuation, how are we supposed to know! But we have seen it & do know. If we hadnt and didnt then that would be an issue but then maybe we wouldnt know that Which makes me want to watch Yes Prime Minister www.youtube.com/watch?v=jllMX_bQx7U11.20 onwards
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Feb 16, 2016 22:51:39 GMT
I thank what ablender is saying, is that without the valuation report we wouldn't know what each tranche consist of, and since we're not 'allowed' to read the valuation, how are we supposed to know! But we have seen it & do know. If we hadnt and didnt then that would be an issue but then maybe we wouldnt know that Which makes me want to watch Yes Prime Minister www.youtube.com/watch?v=jllMX_bQx7U11.20 onwards 
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,329
Likes: 11,549
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Post by ilmoro on Feb 16, 2016 22:59:59 GMT
Would be an issue for Lendy to resolve. AC have on occassion not made valuations avaliable on the grounds of confidentiality but usually as borrower is requires to be anonymous We are not investors providing funding to Lendy but to the borrower.
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). At the ed of the day, it's not effecting the loan or the actual valuation. I would still like to hear the opinions on the subject from savingstream though.
