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Post by savingstream on Mar 1, 2016 11:23:10 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market.
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Post by duncandive on Mar 1, 2016 11:24:59 GMT
Thanks savingstream for the update, the SM was starting to look rather alarming  |
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oldgrumpy
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Post by oldgrumpy on Mar 1, 2016 11:26:53 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market. I do hope you credit February's interest before "tidying up" my account.  edit ... ah ... it's bubbling in now
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 1, 2016 11:27:46 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market. I do hope you credit February's interest before "tidying up" my account. Interest is coming through now.....
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Post by jackpease on Mar 1, 2016 11:46:15 GMT
Thanks savingstream for the update, the SM was starting to look rather alarming Indeed! I am pretty sure this will all get mopped up quickly but when i saw first saw the 'sell sell sell' just now i thought OMG is this the shock that must come at some point over the coming years ie no warning! Jack P
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Post by Deleted on Mar 1, 2016 11:49:06 GMT
Thanks Saving Stream, agree with your idea for a credit system based on account balance.
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peteuk
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Post by peteuk on Mar 1, 2016 12:05:39 GMT
I too agree that something has to be done my idear is when you invest, it is for a minimum of two weeks so that you are investing real money none of this , I'll game the system and put a ten times multiple pre fund in and any I don't need I will sell on the secondary market what happened this morning gave some people the jitters including me this we don't need . I'm sure ss will make the right decisions to protect the business from the smart arrsess
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Balder
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Post by Balder on Mar 1, 2016 12:10:25 GMT
I too agree that something has to be done my idear is when you invest, it is for a minimum of two weeks so that you are investing real money none of this , I'll game the system and put a ten times multiple pre fund in and any I don't need I will sell on the secondary market what happened this morning gave some people the jitters including me this we don't need . I'm sure ss will make the right decisions to protect the business from the smart arrsess I'd imagine a lot is the opposite of "smart arrsess"
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awk
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Post by awk on Mar 2, 2016 7:55:59 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market. Hi Saving Stream, Yesterday wasn't quite the "quiet" day that I was expecting with £700k of newly paid interest just chasing shrapnel !! Please could you confirm the timing and scale of your "tidying up"? In particular, were the BIG sales in the afternoon you or was that normal activity? many thanks
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Post by thickmick on Mar 2, 2016 11:01:44 GMT
I too agree that something has to be done my idear is when you invest, it is for a minimum of two weeks so that you are investing real money none of this , I'll game the system and put a ten times multiple pre fund in and any I don't need I will sell on the secondary market what happened this morning gave some people the jitters including me this we don't need . I'm sure ss will make the right decisions to protect the business from the smart arrsess I've only made my first 2 investments over the last week and suddenly seeing all the activity on the SM certainly gave me pause for thought. Much appreciate the info and communication from SS management.
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Post by Deleted on Mar 2, 2016 18:52:55 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market. Would be nice to know why have you sold so many underwriting parts (was it about 1 million?). I assume they were earning good interest as all ther parts, so taking it back must have been a reasoned decision. Are you planning for underwriting new parts or is it cash needed to fund company expansion?
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SteveT
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Post by SteveT on Mar 2, 2016 19:04:04 GMT
We have just been tidying up some accounts - many loan parts released back onto the secondary market. Would be nice to know why have you sold so many underwriting parts (was it about 1 million?). I assume they were earning good interest as all ther parts, so taking it back must have been a reasoned decision. Are you planning for underwriting new parts or is it cash needed to fund company expansion? They were parts that lenders had "bought" but failed to pay for, not underwriter stakes.
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ben
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Post by ben on Mar 2, 2016 19:13:39 GMT
I too agree that something has to be done my idear is when you invest, it is for a minimum of two weeks so that you are investing real money none of this , I'll game the system and put a ten times multiple pre fund in and any I don't need I will sell on the secondary market what happened this morning gave some people the jitters including me this we don't need . I'm sure ss will make the right decisions to protect the business from the smart arrsess I've only made my first 2 investments over the last week and suddenly seeing all the activity on the SM certainly gave me pause for thought. Much appreciate the info and communication from SS management. If that gave you pause for thought then maybe think again about investing the secondary market has been active but who knows if it will go on for ever, some people are investing as they believe they can sell it on the secondary market as is so active at some point that will not be the case, probably not until there has been a major default though
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Post by sunspot on Mar 2, 2016 20:22:14 GMT
Unless you hold part of a loan that's hanging around, AND you want to sell it, there's nothing to be concerned about.
PBL084 has not yet been drawn down - so Saving Stream is arguably better off, by virtue of not paying interest out of its own pocket (I believe that's how it works).
Regarding other loans, I presume Saving Stream pay themselves interest in this situation (and if they don't, they should) so once again, they're better off, which does us no harm.
What we're discussing is nothing more than a hiccup - one which should have been foreseen (assuming it was caused by credit) but a hiccup nonetheless. We also know that preventative action is in hand to stop it occurring again.
There are things that concern me, but this isn't one of them, even though I hold a chunk of PBL084 (and there's more than £100,000 for sale as I write).
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mikes1531
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Post by mikes1531 on Mar 2, 2016 21:07:59 GMT
There are things that concern me, but this isn't one of them, even though I hold a chunk of PBL084 (and there's more than £100,000 for sale as I write). Nothing of PBL084 left on the SM now -- helped by k*****8 buying £90k.
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