elliotn
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Post by elliotn on Apr 3, 2017 5:41:53 GMT
Plenty of this loan for sale but I keep changing my mind about it. One minute I think it's pretty much "free money" because recent updates have made it abundantly clear that it will pay back soon. Then the next minute I just have this niggling doubt that something could still go wrong. Decisions, decisions ...... If something does go wrong you still have 200+ days (and 90D SBL) if you needed your capital back and no longer wanted to hold to term.
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lobster
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Post by lobster on Apr 3, 2017 6:46:06 GMT
Plenty of this loan for sale but I keep changing my mind about it. One minute I think it's pretty much "free money" because recent updates have made it abundantly clear that it will pay back soon. Then the next minute I just have this niggling doubt that something could still go wrong. Decisions, decisions ...... If something does go wrong you still have 200+ days (and 90D SBL) if you needed your capital back and no longer wanted to hold to term. Yes, I must say it does seem like easy money. However, with plenty for sale right now, presumably others think differently. Ah well, I suppose that's what makes a market
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Post by lendinglawyer on Apr 3, 2017 7:05:13 GMT
If something does go wrong you still have 200+ days (and 90D SBL) if you needed your capital back and no longer wanted to hold to term. Yes, I must say it does seem like easy money. However, with plenty for sale right now, presumably others think differently. Ah well, I suppose that's what makes a market While I don't think it's a great loan I think the real reason there's lots on sale is just that it's huge so naturally there is always likely to be more of it swilling around on the SM (the amount available as a proportion of total loan is not significant in my view).
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Post by gaspilot on Apr 3, 2017 14:37:36 GMT
None left now.
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dp
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Post by dp on Apr 3, 2017 14:44:44 GMT
Nothing wrong with this loan, people are getting out now and reinvesting money into other loans as its suggested this will repay early. People rather get money into longer term loans than have it sat in account at a later date when SM and loan flow may slow down.
Although I've heard this before, not so long ago PBL 69/70/71 update stated "Full repayment expected over the next couple of weeks" - that was 8 months ago.
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twoheads
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Post by twoheads on Apr 3, 2017 16:10:09 GMT
Nothing wrong with this loan, people are getting out now and reinvesting money into other loans as its suggested this will repay early. People rather get money into longer term loans than have it sat in account at a later date when SM and loan flow may slow down.
Although I've heard this before, not so long ago PBL 69/70/71 update stated "Full repayment expected over the next couple of weeks" - that was 8 months ago. Agree with you on both points.
If it does repay early, there will be flood of money available and the decent stuff on the SM will dry up pretty sharpish (and even some of the dross), so I can see why there's some liquidity in this one as people move to other stuff while they can.
I'm as sceptical as you regarding the 'imminent' repayment. (Having said that I'll probably be proved wrong!)
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Post by lendinglawyer on Apr 3, 2017 17:46:03 GMT
Nothing wrong with this loan, people are getting out now and reinvesting money into other loans as its suggested this will repay early. People rather get money into longer term loans than have it sat in account at a later date when SM and loan flow may slow down.
Although I've heard this before, not so long ago PBL 69/70/71 update stated "Full repayment expected over the next couple of weeks" - that was 8 months ago. Nonsense. This loan is so toxic I'm convinced (despite the lack of any evidence to back this up) that it's manipulative/a cover story/Lendy stealing my money/a conspiracy theory/a ponzi scheme. SELL SELL SELL
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seeingred
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Post by seeingred on Apr 15, 2017 12:15:28 GMT
Back to normal then.
The borrowers sale fell through and they are currently working with another purchaser to redeem the loan in due course.
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mikes1531
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Post by mikes1531 on Apr 15, 2017 14:48:49 GMT
Back to normal then. The borrowers sale fell through and they are currently working with another purchaser to redeem the loan in due course. I'm glad now that I didn't try to exit early.
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vmail
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Post by vmail on Apr 15, 2017 22:40:58 GMT
I shouldn't have sold early.
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Bagman
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Post by Bagman on Apr 16, 2017 0:40:15 GMT
Oh well, live and learn, I got out a few weeks ago but now its all gone back into the new 12%ers so no worries really
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Post by p2plender on Apr 16, 2017 1:25:24 GMT
Kept mine and one I don't mind holding to nr term. One I was once not too keen on.
12%ers in a few months will be like rocking horse ----
So disheartening looking at a secondary market stuffed up with 7/8/9 % loans. Sadly the norm in the future I suspect.
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jayjay
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Post by jayjay on Apr 16, 2017 12:54:36 GMT
So disheartening looking at a secondary market stuffed up with 7/8/9 % loans. Sadly the norm in the future I suspect. Not my observation. The SM at least currently is much more heavily stuffed with 10/11/12 with low 'days to run'. Generally, at present, there is a far stronger correlation of 'hard to sell' loans with 'days-to-run' rather than correlation with the interest rate. This indicates a very fickle market - there are very few loans at any interest rate that people are prepared to hold to term but someone will have to!
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GeorgeT
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Post by GeorgeT on Apr 16, 2017 19:02:13 GMT
So disheartening looking at a secondary market stuffed up with 7/8/9 % loans. Sadly the norm in the future I suspect. Not my observation. The SM at least currently is much more heavily stuffed with 10/11/12 with low 'days to run'. Generally, at present, there is a far stronger correlation of 'hard to sell' loans with 'days-to-run' rather than correlation with the interest rate. This indicates a very fickle market - there are very few loans at any interest rate that people are prepared to hold to term but someone will have to! It could be argued it all comes down to who's the best at playing pass the parcel.
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Post by lendinglawyer on Jun 23, 2017 10:36:13 GMT
Latest update:
We have been advised the sale has been agreed. Expecting full payment within the next 2 months.
If this comes through, it'll certainly do the world of good as it's one of the biggest loans out there... However I seem to recall just back in February/March/April an imminent redemption was forecast, so will be interested to see what happens.
EDIT: wonder if "agreed" means "agreed in principle" or "exchange of contracts has occurred"...
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