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Post by valueinvestor123 on Nov 10, 2016 14:48:17 GMT
Ha, is that the kind of reputation I have acquired already?  SS is by far my biggest investment at the moment because it's one of the most straightforward platforms and lets me get invested with the kind of volumes I need fairly quickly. And the biggest plus, there is no arrogant management to deter and confuse matters (or make me fear for my safety for that matter). |
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ianj
Member of DD Central
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Post by ianj on Nov 10, 2016 14:56:25 GMT
I am sure your forensic enquiries into the minutiae of SS's loan structures and concise commentary will be of interest to many. The attitude to official responses obtained to posts made on another platform will likely cause panic in SS customer services, resulting in a rapid move to improve their current level of interaction with lenders, lest they incur his displeasure!..... 
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oldgrumpy
Member of DD Central
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Post by oldgrumpy on Nov 10, 2016 14:58:08 GMT
Ha, is that the kind of reputation I have acquired already? SS is by far my biggest investment at the moment because it's one of the most straightforward platforms and lets me get invested with the kind of volumes I need fairly quickly. And the biggest plus, there is no arrogant management to deter and confuse matters (or make me fear for my safety for that matter). It is nice to be well informed and confident; it inspires such confidence trust.
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Post by valueinvestor123 on Nov 10, 2016 15:07:54 GMT
I am sure your forensic enquiries into the minutiae of SS's loan structures and concise commentary will be of interest to many. The attitude to official responses obtained to posts made on another platform will likely cause panic in SS customer services, resulting in a rapid move to improve their current level of interaction with lenders, lest they incur his displeasure!..... None of the SS official responses I have seen so far are in any way unprofessional. But I don't want to start getting accused of 'dis-attacking' a platform... All the is to worry about are the valuation docs themselves as far as I can tell.
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jonno
Member of DD Central
nil satis nisi optimum
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Post by jonno on Nov 10, 2016 15:56:15 GMT
Oh yes. I've been with SS for around 3 years, and I must say all Six of their official responses have been very professional indeed 
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fp
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Post by fp on Nov 10, 2016 20:07:46 GMT
Interesting to see how savingstream can like posts which give them a smidging of praise, yet skirt around any topic requesting feedback of some description which would likely answer the many questions which remain constantly unanswered. |
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Post by andrewholgate on Nov 11, 2016 11:30:38 GMT
Apologies to savingstream for jumping in here. Nice to see I am loosely referenced above. <back under my rock> |
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Post by jordan on Nov 29, 2016 13:53:10 GMT
Earlier this year I read this article; Saving Stream interview 2016
BY IAIN NIBLOCK | ON SUNDAY, MARCH 27, 2016www.orcamoney.com/blog/saving-stream-interview-2016I have been searching around to find it again, but I only managed to find it today. It was this comment that I recalled; “OM: So what is the sweet spot loan? LB (Liam Brooke): Well we actively market to £1-5m loans, this keeps borrowers happy and gives us scalability and importantly manageability. We were a two-man team after all! In saying that we are expecting to lend to loans in the region £25m. These are less risky. We now have 7 people working in the team full time and a few more on the way.“ Another article mentions this as well; Saving Stream Investment Review
By Jordan Stodart on 27th June 2016www.altfi.com/article/2066_saving_stream_investment_reviewThey report the information this way; “*statistics correct at time of publication (06/16) Liam Brooke, co-founder and CEO of Saving Stream told Orca some months ago that their sweet spot is £1million - £5million loans. Saving Stream forecasted that they’d be listing loans in the region of £25million in the not too distant future. Currently the max. loan value in the portfolio stands at just over £6million.” When Saving Stream announced that they would be dropping the interest rates on new loans, with the statement below, I was surprised at their change in approach, having recalled the Orca article, but at that time I couldn’t find it.
“In order to increase the supply of high quality loans, we intend to begin offering investors the chance to invest in lower risk loans that will pay a lower monthly rate. This will allow us to offer lower cost finance to borrowers, which should feedback to a higher volume of even higher quality loan flow.”
It is just my opinion, but if Saving Stream had listed loans as Liam Brooke was forecasting in the region of £25million, then that would have; [1] Provided the supply for the ever increasing demand and then would have been able to keep the rates at 12%.  [2] Ensured that these new large loans were less risky to Saving Stream investors, as Liam Brooke had stated, “ These are less risky.”  [3] Kept the big hitters happy on the Saving Stream platform, because some of them have reported on this P2P independent forum board, that they have been transferring funds out of their Saving Stream accounts.  With some of the big hitters now leaving, would Saving Stream now be able to fund these £25million loans that Liam Brooke, co-founder and CEO of Saving Stream was predicting only five months ago? We shall see... Hi supernumeraryNot sure if you managed to find the article again, but here it is for you - www.orcamoney.com/blog/saving-stream-interview-2016We've written a couple of pieces on Saving Stream recently, particularly around the summer default, should you be interested. You can find it on our blog. Appreciate you taking the time to read our material. Cheers,
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Post by meledor on Nov 29, 2016 18:13:39 GMT
Hi supernumerary Not sure if you managed to find the article again, but here it is for you - www.orcamoney.com/blog/saving-stream-interview-2016We've written a couple of pieces on Saving Stream recently, particularly around the summer default, should you be interested. You can find it on our blog. Appreciate you taking the time to read our material. Cheers, Hi Jordan
I think you are rather confused about the summer default judging by your article of 3rd November.
You make a great issue of the change in T&C in September 2015 and conclude "It is not explicitly clear if the old or new T&C’s govern loan PBL020." yet you go on to quote the legal position as put forward by SS in the updates section for the loan. This statement clearly identifies the relevant old T&Cs (rather than the new September 2015 T&Cs) that affect the lenders' position. So what could be clearer that it is the old T&Cs that are applicable?
You also state "Unfortunately, investors in the loan are left waiting to understand how and when their capital (and accrued interest...) will be returned to them." Yet doesn't the same legal position as explained by SS make that clear? The question of 'when' is governed by clauses 4.5, 4.6 and 5.4 and the question of 'how' or 'how much' by clause 5.3.1 - these clauses being specifcally identified in the stated legal position. Of particular note is SS's comment regarding that last clause "In the event that there is a shortfall then Lendy will pay you a proportion of the recovery proportionate to the amount invested by you in the loan" which rather cuts across your understanding of the old T&Cs in your article - for example "Loan PBL020 was issued under the old T&Cs, where Lendy Ltd would bear the credit risk".
Finally I am not familiar with your site but as SS's defaults would seem to be fewer than a lot of other platforms I trust that your interest in this default is matched by a detailed examination of long-running defaults elsewhere.
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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 Nov 29, 2016 19:27:41 GMT
Hi supernumerary Not sure if you managed to find the article again, but here it is for you - www.orcamoney.com/blog/saving-stream-interview-2016We've written a couple of pieces on Saving Stream recently, particularly around the summer default, should you be interested. You can find it on our blog. Appreciate you taking the time to read our material. Cheers, Hi Jordan
I think you are rather confused about the summer default judging by your article of 3rd November.
You make a great issue of the change in T&C in September 2015 and conclude "It is not explicitly clear if the old or new T&C’s govern loan PBL020." yet you go on to quote the legal position as put forward by SS in the updates section for the loan. This statement clearly identifies the relevant old T&Cs (rather than the new September 2015 T&Cs) that affect the lenders' position. So what could be clearer that it is the old T&Cs that are applicable?
You also state "Unfortunately, investors in the loan are left waiting to understand how and when their capital (and accrued interest...) will be returned to them." Yet doesn't the same legal position as explained by SS make that clear? The question of 'when' is governed by clauses 4.5, 4.6 and 5.4 and the question of 'how' or 'how much' by clause 5.3.1 - these clauses being specifcally identified in the stated legal position. Of particular note is SS's comment regarding that last clause "In the event that there is a shortfall then Lendy will pay you a proportion of the recovery proportionate to the amount invested by you in the loan" which rather cuts across your understanding of the old T&Cs in your article - for example "Loan PBL020 was issued under the old T&Cs, where Lendy Ltd would bear the credit risk".
Finally I am not familiar with your site but as SS's defaults would seem to be fewer than a lot of other platforms I trust that your interest in this default is matched by a detailed examination of long-running defaults elsewhere.
while your at it someone needs to take a look at the blog post on AC from 24/11 which has one glaring error* and looks like it was written by someone with little understanding of how AC accounts work IMO *GBBA rate is 7% and always has been
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ablender
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Post by ablender on Nov 30, 2016 18:49:03 GMT
jordanJust had a quick look at your site and specifically at the SS entry. I noticed that you mention the minimum investment as £100 without mentioning that this is the minimum one can prerefund. In reality, on the SM one can buy as little as £0.01.
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greatmarko
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Post by greatmarko on Nov 30, 2016 19:35:01 GMT
Oh dear! Looks like Orcamoney's SSL certificate has also expired jordan ! Ooops |
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ganymede
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Post by ganymede on Nov 30, 2016 20:39:18 GMT
Oh dear! Looks like Orcamoney's SSL certificate has also expired jordan ! Ooops I get this ... The owner of www.orcamoney.com has configured their website improperly. To protect your information from being stolen, Firefox has not connected to this website. This site uses HTTP Strict Transport Security (HSTS) to specify that Firefox may only connect to it securely. As a result, it is not possible to add an exception for this certificate. Learn more… Report errors like this to help Mozilla identify and block malicious sites www.orcamoney.com uses an invalid security certificate. The certificate expired on 11/30/16 19:03. The current time is 11/30/16 20:32. Error code: SEC_ERROR_EXPIRED_CERTIFICATE Site cannot be accessed.
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ablender
Member of DD Central
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Post by ablender on Nov 30, 2016 23:17:31 GMT
Oh dear! Looks like Orcamoney's SSL certificate has also expired jordan ! Ooops I get this ... The owner of www.orcamoney.com has configured their website improperly. To protect your information from being stolen, Firefox has not connected to this website. This site uses HTTP Strict Transport Security (HSTS) to specify that Firefox may only connect to it securely. As a result, it is not possible to add an exception for this certificate. Learn more… Report errors like this to help Mozilla identify and block malicious sites www.orcamoney.com uses an invalid security certificate. The certificate expired on 11/30/16 19:03. The current time is 11/30/16 20:32. Error code: SEC_ERROR_EXPIRED_CERTIFICATE Site cannot be accessed. Why didn't you try to access the site a couple of hours before?
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Post by Harland Kearney on Dec 1, 2016 2:30:19 GMT
I will only be investing anymore than £100 into loans which are 12 percent (or higher?) PA. I won't be touching 9 percent loans (Not enough reward for risk), and 10-11 percent loans I will pre-fund with £100 to help with diversification/using up interest payments/repayments to a extent.
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