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Post by chris on Feb 22, 2016 8:15:29 GMT
Quick bit of market research via a cheeky question. Which other platforms have lender voting on credit impaired loans? Pros and cons of their approaches?
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registerme
Member of DD Central
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Post by registerme on Feb 22, 2016 8:22:40 GMT
I've only had £100 of defaults on FC so am not in a position to comment (so no defaults not covered by a provision fund on RS, Zopa, SS, ablrate, MT). I have one on LC that looks like it might default, but until it does......
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pikestaff
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Post by pikestaff on Feb 22, 2016 8:29:41 GMT
TC does, but you must know that already.
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SteveT
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Post by SteveT on Feb 22, 2016 8:40:42 GMT
AC is the only one of the platforms I use that has done so to date (others being SS / FC / MT / FS / AR / ReBS / LC)
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Post by bracknellboy on Feb 22, 2016 8:41:55 GMT
Pros: Lenders feel more engaged; good way of getting some visibility of the recovery process and the issues involved
Cons: The crowd is not always right.
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Post by chris on Feb 22, 2016 8:46:40 GMT
TC does, but you must know that already. TC is one of the platforms I don't actually use or particularly keep an eye on, although others in the business will. Just never got on with their website.
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Post by chris on Feb 22, 2016 8:46:58 GMT
Thanks for the feedback all.
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am
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Post by am on Feb 22, 2016 10:16:23 GMT
If I understand correctly Property Moose has investor voting. Perhaps other crowd property platforms do also.
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jjc
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Post by jjc on Feb 22, 2016 13:52:52 GMT
There was a vote called last week on a Rebs loan. First case I recall on their platform to date (but not a close follower there, so there could be more?)
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min
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Post by min on Feb 22, 2016 16:58:10 GMT
Have voted in the past on FK. It was whether to accept an IVA proposed by Berkshire printer called Mr Pinocchio (well that should have been his name).
FK lenders voted no but other creditors outvoted us. Nothing been received from IVA and supervisor has requested a months extension before defaulting IVA. Once again asked to vote. Again FK lenders voted no but appear to have lost the vote again.
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shimself
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Post by shimself on Feb 27, 2016 14:09:33 GMT
THC will call votes as properties reach their 5 year anniversary. (should we sell or should we keep?)
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shimself
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Post by shimself on Feb 27, 2016 14:17:42 GMT
REBS in their t&cs will handle any troubled loans without asking lenders to decide what to do. Any individual lender can opt to go solo if they wish. Their communications are pretty good.
PS Chris can you lend Dominic a hand to make the vote surveymonkey email sanitary and informative, lenders no longer get a copy of the vote preamble and alternatives, and the email looks quite like spam. (I suspect voter participation will have fallen as a result).
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Post by chris on Feb 27, 2016 16:26:00 GMT
REBS in their t&cs will handle any troubled loans without asking lenders to decide what to do. Any individual lender can opt to go solo if they wish. Their communications are pretty good. PS Chris can you lend Dominic a hand to make the vote surveymonkey email sanitary and informative, lenders no longer get a copy of the vote preamble and alternatives, and the email looks quite like spam. (I suspect voter participation will have fallen as a result). Not my department but I'll let the relevant people know.
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shimself
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Post by shimself on Feb 27, 2016 16:43:31 GMT
REBS in their t&cs will handle any troubled loans without asking lenders to decide what to do. Any individual lender can opt to go solo if they wish. Their communications are pretty good. PS Chris can you lend Dominic a hand to make the vote surveymonkey email sanitary and informative, lenders no longer get a copy of the vote preamble and alternatives, and the email looks quite like spam. (I suspect voter participation will have fallen as a result). Not my department but I'll let the relevant people know. David Ricketts sorry not Dominic. It's extremely obvious it is not your department - any chance of your doing a bit of empire building?
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Post by chris on Feb 27, 2016 17:07:51 GMT
Not my department but I'll let the relevant people know. David Ricketts sorry not Dominic. It's extremely obvious it is not your department - any chance of your doing a bit of empire building? No power craze here. Quite happy with my little bit of turf (plus my bit of turf comes with all the statistics that can be used to keep the rest of the team honest). Dave's now aware and says he's constantly reviewing it but is somewhat limited by the email format survey monkey forces him to use.
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