adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 16:42:06 GMT
For months now, the complaint has been how hard it is to get money into SS. Nothing on the SM, and the few loans being launched on the PM massively oversubscribed with gaming rife.
Now, it's changed.
We've just had a week or more of solid SM availability, sometimes hundreds of thousands of pounds across most loans. Recent updates on a raft of loans show them about to pay back.
The PM's no better - a PBL was pulled at the last minute because of concerns expressed over an apparent complete lack of DD. DFLs are about to be launched with nobody knowing what a DFL is or how it'll work. The pipeline is bulging at the seams with loans that, frankly, nobody seems very bothered about - IF we know anything about them at all.
Have SS lost their touch? Are they trying too hard to meet an over-supply of cash, and sacrificing what's attracting that cash in the first place?
Should the vet be called for a mere flesh-wound on that golden-egg-laying goose, or should we be turning the oven up and mixing some sage and onion?
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ben
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Post by ben on Mar 8, 2016 16:51:23 GMT
Unfortunately I think SS is going the way of FS at the moment any loan will do as people will invest
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Post by savingstream on Mar 8, 2016 17:20:01 GMT
1: The SM market has proven to provide exactly what it was designed for i.e if you want out of a loan, it provides liquidity to do so. This came after c£20m of new loan flow last month. Appetite is incredibly strong and will continue to prove so.
2: "complete lack of DD" we take offence at that. Our DD was incredibly tight behind the scenes not just on the land but also the borrower, his track record, his personal wealth and other information such as a large grant being made by the local council. One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. Lack of DD was not the problem, lack of access to commercially sensitive information was. And this will happen again in the future, we just cannot put some info out into the public domain for various reasons - it is our intention to be absolutely transparent with as much as possible but sometimes it is not possible to do so. We do rely on your trust in our capabilities to a large extent and hope everyone understands that.
3: The pipeline is bulging with extremely strong loans and the demand is obvious behind the scenes. I repeat, One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. On here and other forums, there are some incredibly bright & insightful people but even they jump to the wrong conclusions quite often, mainly because of the above point about lack of info.
4: As Lendy Finance becomes more well known in the market place and we have systems and infrastructure to support our growth, the supply of loans will increase (and especially when compared to the slow Jan - post Xmas/NY slow down). This has no bearing whatsoever on the quality of DD that we perform on your behalf. We are offering a completely new product to SS investors (property development) that is quite mainstream on some other platforms - we are only now entering this market place because of our increased infrastructure support behind us.
Again, appreciate this forum and all of its members. Keep up the good work.
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cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Mar 8, 2016 17:22:36 GMT
1: The SM market has proven to provide exactly what it was designed for i.e if you want out of a loan, it provides liquidity to do so. This came after c£20m of new loan flow last month. Appetite is incredibly strong and will continue to prove so. 2: " complete lack of DD" we take offence at that. Our DD was incredibly tight behind the scenes not just on the land but also the borrower, his track record, his personal wealth and other information such as a large grant being made by the local council. One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. Lack of DD was not the problem, lack of access to commercially sensitive information was. And this will happen again in the future, we just cannot put some info out into the public domain for various reasons - it is our intention to be absolutely transparent with as much as possible but sometimes it is not possible to do so. We do rely on your trust in our capabilities to a large extent and hope everyone understands that. 3: The pipeline is bulging with extremely strong loans and the demand is obvious behind the scenes. I repeat, One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. On here and other forums, there are some incredibly bright & insightful people but even they jump to the wrong conclusions quite often, mainly because of the above point about lack of info. 4: As Lendy Finance becomes more well known in the market place and we have systems and infrastructure to support our growth, the supply of loans will increase (and especially when compared to the slow Jan - post Xmas/NY slow down). This has no bearing whatsoever on the quality of DD that we perform on your behalf. We are offering a completely new product to SS investors (property development) that is quite mainstream on some other platforms - we are only now entering this market place because of our increased infrastructure support behind us. Again, appreciate this forum and all of its members. Keep up the good work.  .... but today has been testing for our relationship.....)P.s. I disagree with most of what adrianc has said. SS is a small P2P platform and is going through some changes. Teething problems are expected and accepted as long as you deal with the problems quickly and efficiently.....
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registerme
Member of DD Central
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Post by registerme on Mar 8, 2016 17:26:38 GMT
That was positive, strong, and fair commentary savingstream, thank you  . |
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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 Mar 8, 2016 17:31:07 GMT
' On here and other forums' hang are SS two timing us,  'there are some incredibly bright & insightful people' then there's the rest of us  |
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locutus
Member of DD Central
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Post by locutus on Mar 8, 2016 17:31:47 GMT
One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. Whilst this is true, please don't use it as a catch all to reject all criticism. Just to be clear, I know you haven't so far but don't be tempted to do so. Another platform on the forum likes to trot out this reason for most criticisms and as a result has lost my business. Constructive criticism and open dialogue will lead to a stronger platform and benefit Lendy and its investors. So far, you have top marks from me. Keep the lines of communication open and the platform will go from strength to strength.
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 17:42:23 GMT
2: " complete lack of DD" we take offence at that. And so you should - but what I actually said was... ...and that was certainly the way it felt. The valuation doc which you published started to be pored over, and big glaring gaps in it were pointed at. Then... <boof> Sorry, guys, the loan that was due to go live in about five minutes has been pulled. I've said in another thread that life would be easier if you weren't so cryptic in your comments here. I mean that as a friend. Lack for us? Or for you? We knew we were lacking it - we didn't know whether you had it or not. We didn't know whether it existed or not, or whether it really was just eternal optimism over a toxic waste dump. We appreciate that - but talk to us! Interact more. Tell us "Look, we understand what the valuation doc we've published doesn't say, and why it's causing you concerns, but we do have commercially sensitive reasons." - instead, four hours after the launch has been pulled, we get a one-liner saying... If we didn't trust you, you wouldn't have our money, and this thread wouldn't exist. Indeed. And it's not too late to do something about it when it comes to the DFLs - but, instead, we're getting people posting "Well, Tim's said this in an email to me..." <insert cryptic one-liner> This is the PBL83 thread - it's worth going back over and reminding yourselves of what was said and when... p2pindependentforum.com/thread/4551/pbl83-canceled-26-02-2016And this is the current DFL thread. p2pindependentforum.com/thread/4637/dfl-loans-answers-required-ssHelp us to help you. Please? It shouldn't be a hard job to explain how the DFLs will work, in basic terms at least...
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adrianc
Member of DD Central
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Post by adrianc on Mar 8, 2016 17:45:53 GMT
OK, just seen the reply in the DFL1 thread. Thanks for that.
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Post by supernumerary on Mar 9, 2016 11:41:23 GMT
I have only just read the 8th March 2016 posting from Saving Stream. I thought I would make some comments on it. 1: The SM market has proven to provide exactly what it was designed for i.e if you want out of a loan, it provides liquidity to do so. This came after c£20m of new loan flow last month. Appetite is incredibly strong and will continue to prove so. One of the main benefits for me is to be able to down size my holding in a particular loan, diversify and then spread the risk. That has been a truly great benefit of the Saving Stream platform, because as I sell off those loans, it enables other investors to diversify and spread their risk as well. 2: " complete lack of DD" we take offence at that. Our DD was incredibly tight behind the scenes not just on the land but also the borrower, his track record, his personal wealth and other information such as a large grant being made by the local council. One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. Lack of DD was not the problem, lack of access to commercially sensitive information was. And this will happen again in the future, we just cannot put some info out into the public domain for various reasons - it is our intention to be absolutely transparent with as much as possible but sometimes it is not possible to do so. We do rely on your trust in our capabilities to a large extent and hope everyone understands that. From my own perspective Saving Stream, you have so far, shown a very good track record, not only in acquiring very good loans, but you also have a provision fund to back those risks up. With regards to the very vocal minority, that keep you on your toes… Unlike some other representatives from other platforms, Saving Stream, you don’t feel the need to keep defending yourselves, with pitch forks at the ready… Having been personally on the receiving end of one particular p2p lender representative’s offending diatribe on this particular p2p platform and not to have been provoked by it, I have noticed that you have taken most of the offending comments, like water off a ducks back… So, it has also been noticeable to me at least, that you haven’t attacked individual posters, you have let them wallow on their particular soap box, as they have so chosen to do…  I rely on your trust and capabilities in what you do. If I didn’t then I wouldn’t be steadily increasing my holding on the Saving Stream platform. 3: The pipeline is bulging with extremely strong loans and the demand is obvious behind the scenes. I repeat, One of the downsides of the P2P form of funding is that a very vocal minority can cause big ripples very quickly. On here and other forums, there are some incredibly bright & insightful people but even they jump to the wrong conclusions quite often, mainly because of the above point about lack of info. The increase in pipeline loans is being matched by the increasing numbers of investors onto the platform. The numbers of Saving Stream investors is now fast approaching 7,000. 4: As Lendy Finance becomes more well known in the market place and we have systems and infrastructure to support our growth, the supply of loans will increase (and especially when compared to the slow Jan - post Xmas/NY slow down). This has no bearing whatsoever on the quality of DD that we perform on your behalf. We are offering a completely new product to SS investors (property development) that is quite mainstream on some other platforms - we are only now entering this market place because of our increased infrastructure support behind us. The growth of Saving Stream continues apace, to provide good investing opportunities for a growing fanbase, of Saving Stream investors. Again, appreciate this forum and all of its members. Keep up the good work. |
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Investor
Member of DD Central
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Post by Investor on Mar 9, 2016 12:11:17 GMT
And not forgetting that today hits another milestone for savingstream with £100,000,000 loans made so far. Congratulations to the team |
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ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
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Post by ramblin rose on Mar 9, 2016 16:56:04 GMT
For months now, the complaint has been how hard it is to get money into SS. Nothing on the SM, and the few loans being launched on the PM massively oversubscribed with gaming rife. Now, it's changed. We've just had a week or more of solid SM availability, sometimes hundreds of thousands of pounds across most loans. Recent updates on a raft of loans show them about to pay back. The PM's no better - a PBL was pulled at the last minute because of concerns expressed over an apparent complete lack of DD. DFLs are about to be launched with nobody knowing what a DFL is or how it'll work. The pipeline is bulging at the seams with loans that, frankly, nobody seems very bothered about - IF we know anything about them at all. Have SS lost their touch? Are they trying too hard to meet an over-supply of cash, and sacrificing what's attracting that cash in the first place? Should the vet be called for a mere flesh-wound on that golden-egg-laying goose, or should we be turning the oven up and mixing some sage and onion? And here we go round the mulberry bush again. Ever since the SM was first introduced, if everything sells quickly people assert, often quite stroppily, that SS is never going to work because they can't get invested quickly enough. As soon as a few things go unsold for a few hours, or a day or two, people start to question ongoing viability and prophesy the downward spiral is kicking in. I'm not sure how many times the cycle has gone round, but it's several over the past couple of years. New lenders arrive, see whatever the current situation is as 'normal' and then begin to wonder what's going on when it changes a bit. But it's just part of the ebb and flow of a world that isn't smoothed out.
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Post by savingstream on Mar 9, 2016 17:01:53 GMT
And not forgetting that today hits another milestone for savingstream with £100,000,000 loans made so far. Congratulations to the team Thanks for pointing that out and for reminding us.
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blata
Posts: 77
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Post by blata on Mar 9, 2016 17:22:55 GMT
I am happy with the platform, had many loans and all has been handled well.
If there are to many loans its a catastrophe,if there's not enough the world will end
Lets see how it pans out I think 12% gets everyone thinking
Good luck all
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littleoldlady
Member of DD Central
Running down all platforms due to age
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Post by littleoldlady on Mar 9, 2016 17:54:56 GMT
Famine or glut is inevitable when there is no price mechanism to match supply and demand, and I, at least, don't want variable pricing so this is a small price to pay for a fixed 12% return IMO.
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.... but today has been testing for our relationship.....)
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