kermie
Member of DD Central
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Post by kermie on Aug 4, 2016 19:18:43 GMT
I was quite surprised to see approx as much as 50% of the loan was available when it renewed earlier today.
Also a bit surprised to see it take so long to fill.
What gives? It's 13% return. LTV 39%. Borrower even paid off some capital before rolling it over, and the revised valuation certainly suggest good progress on the development.
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Neil_P2PBlog
P2P Blogger
Use @p2pblog to tag me :-)
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Post by Neil_P2PBlog on Aug 4, 2016 20:50:24 GMT
I was quite surprised to see approx as much as 50% of the loan was available when it renewed earlier today. Also a bit surprised to see it take so long to fill. What gives? It's 13% return. LTV 39%. Borrower even paid off some capital before rolling it over, and the revised valuation certainly suggest good progress on the development. I'm interested in this too. Looking back over old posts on the previous listing: p2pindependentforum.com/post/91301/thread mikes1531 mentions "50% of the loan was funded by just seven investors, and the next quarter of the loan was funded by just nine more investors". For some reason they've chosen not to renew
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SteveT
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Post by SteveT on Aug 5, 2016 6:26:54 GMT
Across all 3 tranches together, it's a big loan and many will have plenty already lent in the earlier tranches. The small 2nd tranche also pays 13% and has priority over this 3rd one, but the 1st tranche at 12% is probably the pick of the 3.
Also, it's quite unusual for FS to increase the rate paid for a renewal loan versus the original loan (the original 3rd tranche only paid 12%, despite the original 2nd tranche paying 13%). I suspect a good few will have opted out of renewal on the assumption that it would again pay just 12%.
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jamesc
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Post by jamesc on Aug 5, 2016 9:39:59 GMT
One BH has taken nearly all that was left only a few k remaining if you want to invest !
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