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Post by davee39 on Mar 12, 2014 9:56:38 GMT
A loan for a male hairdresser has been re-listed and finishes in 6 days. The FC comment is the usual 'borrower was out of the country' or BWOOTC. Interestingly there was a reply from the borrower yesterday indicating that the loan was rejected because the rate was too high for a profitable firm and 9% would be acceptable. This comment has now gone. Does this mean FC sometimes tells fibs on the borrowers behalf, or is there any suggestion that investors in this loan might have to take a haircut?
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Mar 12, 2014 11:26:13 GMT
Can't remember why I didn't bid on this. I usually do for big A loans. These days they often end up well over 9% overall (with canny late bidders getting 11% +) and (apparently) he will be accepting an offer this time. What was his final rate first time round?
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mikeb
Posts: 1,072
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Post by mikeb on Mar 12, 2014 18:36:39 GMT
The FC comment is the usual 'borrower was out of the country' or BWOOTC. Interestingly there was a reply from the borrower yesterday indicating that the loan was rejected because the rate was too high for a profitable firm and 9% would be acceptable. This comment has now gone. Does this mean FC sometimes tells fibs on the borrowers behalf, or is there any suggestion that investors in this loan might have to take a haircut? Where did you think you saw the "rate is too high" comment, because [Jedi Mind Wave] "there was no Q&A for the previous auction" ... at least that what it says ... 
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Post by davee39 on Mar 12, 2014 19:18:00 GMT
The comment was on the current auction, as a reply to the FC 'borrower was out of the country' comment. Another loan relisted because incorrect financials appeared the first time and has been rejected again (today). Posh hairdressing is way out my league (as is possession of any meaningful amount of hair) so I have given it a miss.
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