cooling_dude
Bye Bye's for the PPI
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Post by cooling_dude on Feb 20, 2017 13:54:21 GMT
Mod hat on. Thread title now tweaked a little to aid identification. My silent protest has been silenced 
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sl75
Posts: 2,092
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Post by sl75 on Feb 20, 2017 14:02:44 GMT
Mod hat on. Thread title now tweaked a little to aid identification. My silent protest has been silenced Is this a first - moderators taking action because you revealed too little information about a borrower? Edit: I wonder how many matches would be generated against a complete copy of the postcode address file from the revealed info - i.e. how many properties referred to as J** House there are on a road matching ***** Rd in NW5 ? It seems unlikely to be a number much larger than one... i.e have the mods uniquely identified the only possible property (so might as well be written out long-hand), or are there still multiple properties that it *could* refer to, at least in principle, thereby maintaining a degree of anonymity?
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SteveT
Member of DD Central
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Post by SteveT on Feb 20, 2017 14:17:31 GMT
Edit: I wonder how many matches would be generated against a complete copy of the postcode address file from the revealed info - i.e. how many properties referred to as J** House there are on a road matching ***** Rd in NW5 ? It seems unlikely to be a number much larger than one... i.e have the mods uniquely identified the only possible property (so might as well be written out long-hand), or are there still multiple properties that it *could* refer to, at least in principle, thereby maintaining a degree of anonymity? In case you're right, I've added back 1 asterisk!
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Post by roedvin on Feb 20, 2017 14:37:38 GMT
LATEST UPDATE (17th Feb 2017): The borrower has requested a redemption statement . We are expecting repayment on time.So does mean now, that we can assume that this loan will go the full term? I would think it means its likely to be repaid pretty quickly and not in 248 days (the current remaining term) Negative! It's now 248 days, before it was 30 days more.
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Post by supernumerary on Feb 20, 2017 18:24:54 GMT
So, if the loan is terminated early, does the borrower have to pay extra money to get out of the contract? If so, does that mean any financial penalty payment is passed onto the lenders who have taken on the loan, in anticipation of it going the full term? It would be interesting to know. I understand borrowers can repay early (certainly better than going overdue) and unlike some other platforms I haven't read of minimum contractual interest payments although SS would be in line for their standard exit fee of 2%. Back in the good ol' days, when savingstream were more open and transparent, they used to indicate what the 'Loan Term (min)' was. For an example, look at the Bridging Loan Particulars document for PBL031, which shows a six month minimum. IIRC, if a loan was paid off before the minimum term had passed, the investor holding the loan on the repayment day received the 'bonus' interest. But that was then, and this is now. SS no longer let us have this info. There may be a minimum term specified in the loan contract, but we don't know about it. And if there's a benefit to be had from such a clause because a borrower repaid early, I really don't expect that SS would give any of it to their investors. Thank you Mike for providing some history about the good ol' days of Saving Stream, with investors receiving 'bonus' interest on their loan holdings!  All I can recall about 'bonus' interest payments, was when a loan needed money funding it. Seems strange now that it happened in times past, Saving Stream were only too grateful in the loan being funded and gave additional 'bonus' cash, as a motivator to its treasured lenders...  The good ol' days Mike!
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twoheads
Member of DD Central
Programming
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Post by twoheads on Feb 20, 2017 19:58:19 GMT
I would think it means its likely to be repaid pretty quickly and not in 248 days (the current remaining term) Negative! It's now 248 days, before it was 30 days more. Am I being thick? I don't understand this comment.
I can only rather glibly suggest that a month ago, it was indeed 30 days more.
P.S. And don't get pernickety and claim that should be 31 days...
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Post by portlandbill on Mar 13, 2017 10:24:06 GMT
is this really going to repay "relatively soon" (1 month ago) or "on time" (3 weeks ago)? Still showing as 225 days remaining.
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elliotn
Member of DD Central
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Post by elliotn on Mar 13, 2017 10:42:26 GMT
The remaining days will stay the same lapsing from the date of the loan which can be paid back at any time if the borrower chooses to repay early.
SS last 'no change' update ambiguous, I'd err towards no change on progress of the redemption going through legals although we'd need SS to clarify.
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lobster
Member of DD Central
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Post by lobster on Mar 13, 2017 11:08:06 GMT
The remaining days will stay the same lapsing from the date of the loan which can be paid back at any time if the borrower chooses to repay early. SS last 'no change' update ambiguous, I'd err towards no change on progress of the redemption going through legals although we'd need SS to clarify. I enquired about this by email , and got sent this response on 23rd February : =========================================================== Thank you for your email. The borrower has requested the redemption statement and we are expecting the the loan to be repaid well before the loan expires. An update regarding the likely timescale will be communicated shortly.
Kind regards,
Customer Services Team
Saving Stream
============================================================Which leaves up guessing what "communicated shortly" might possibly mean ..... 
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elliotn
Member of DD Central
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Post by elliotn on Mar 13, 2017 11:09:17 GMT
Thanks lobster, we can expect an update imminently then . |
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Post by lendinglawyer on Mar 13, 2017 11:15:50 GMT
Repayment of this bad boy would certainly clear the SM... Then again, so would a cancellation of DFL017, which at this point I think is fairly high probability unless someone (or several someones) step(s) up for huge amounts soon. If you look at the investor count across the bigger loans recently, hardly any get above 2.5k investors and DFL017 is already (pretty much) there, indicating there is not much more capacity left...
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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 13, 2017 11:17:20 GMT
The remaining days will stay the same lapsing from the date of the loan which can be paid back at any time if the borrower chooses to repay early. SS last 'no change' update ambiguous, I'd err towards no change on progress of the redemption going through legals although we'd need SS to clarify. I enquired about this by email , and got sent this response on 23rd February : =========================================================== Thank you for your email. The borrower has requested the redemption statement and we are expecting the the loan to be repaid well before the loan expires. An update regarding the likely timescale will be communicated shortly.
Kind regards,
Customer Services Team
Saving Stream
============================================================Which leaves up guessing what "communicated shortly" might possibly mean ..... I think 'well before' also needs some attention, that could easily mean July or August.
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elliotn
Member of DD Central
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Post by elliotn on Mar 13, 2017 11:18:18 GMT
J** might save 17. Chelmsford has been on the final stages of refinance for some time. The race is on 😎 .
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Post by lendinglawyer on Mar 13, 2017 11:25:47 GMT
J** might save 17. Chelmsford has been on the final stages of refinance for some time. The race is on 😎 . That will depend on the extent to which those who are already in 17 have reached their concentration limit (and stick to it), especially as the investor count is already high - based on current numbers average hold per investor in this loan is £2.3k, which while I haven't checked it more widely I think is quite high. Many may decide that their J** and/or Chelmsford proceeds are better deployed in other ways than by ploughing more into 17 @ 11%.
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elliotn
Member of DD Central
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Post by elliotn on Mar 13, 2017 14:09:23 GMT
J** might save 17. Chelmsford has been on the final stages of refinance for some time. The race is on 😎 . That will depend on the extent to which those who are already in 17 have reached their concentration limit (and stick to it), especially as the investor count is already high - based on current numbers average hold per investor in this loan is £2.3k, which while I haven't checked it more widely I think is quite high. Many may decide that their J** and/or Chelmsford proceeds are better deployed in other ways than by ploughing more into 17 @ 11%. When a loan is paid all sorts of poo is bought on the SM desperate to stay invested. These are two biggies. My bet is 17 would come down considerably by either, 2.3k is nothing to a BH.
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