SteveT
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Post by SteveT on Sept 9, 2015 12:35:51 GMT
Noticed items staying up for much longer today! More likely a steady stream of sellers and buyers on some of the shorter dated loans. The SY has been green all day pretty much, but parts I listed this morning sold through quickly enough
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Post by zzr600 on Sept 9, 2015 12:46:41 GMT
PBL15 available
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jonah
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Post by jonah on Sept 9, 2015 13:47:01 GMT
Noticed items staying up for much longer today! More likely a steady stream of sellers and buyers on some of the shorter dated loans. The SY has been green all day pretty much, but parts I listed this morning sold through quickly enough It would be nice if one or more of the overdue loans were closed... Both to reduce the pool but also the repaid cash would probably mop up the spare parts. Also having multiple loans over 40 days late doesn't look great.
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bjorn
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Post by bjorn on Sept 9, 2015 15:51:37 GMT
How do overdue loans work? Do you still get paid interest? And does being overdue indicate a risk of default?
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registerme
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Post by registerme on Sept 9, 2015 15:53:11 GMT
How do overdue loans work? Do you still get paid interest? And does being overdue indicate a risk of default? Yes, and probably not (though this may change with the move to the trust structure and lenders lending directly to specific loans rather than to Lendy).
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Post by jackpease on Sept 9, 2015 15:56:13 GMT
But with SS saying that loans can be 'reassigned' under the new structure presumably if you take on an overdue loan because at the moment there is no additional risk - and then the loan is reassigned - then suddenly you do have a risky loan on your hands?  Jack P |
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registerme
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Post by registerme on Sept 9, 2015 16:01:00 GMT
Agreed, it's uncertain in my mind too (hence why I said "probably not (though this may change...)"). However, it would be very short-sighted of SS to go "right, as of now we're under the new trust structure and, terribly sorry but loan X went pop just after it got novated, you're out of pocket old chum".
There's also a distinct lack of clarity over how SS might use the provision fund going forwards. I think (and am happy to be corrected) that the only thing said about it to date is that it is down to the discretion of the trustees.
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sam i am
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Post by sam i am on Sept 9, 2015 16:37:41 GMT
How do overdue loans work? Do you still get paid interest? And does being overdue indicate a risk of default? SavingStream have commented on the overdue loans and their position is that repayment is flexible depending on the borrowers circumstances and requirements. SS tells us that they discuss the position with the client and allow extensions to the loan as long as interest is paid up front to cover the likely extension period. This may be to allow refinancing or a sale to go through. Assuming that things keep progressing smoothly this is a cheaper and less antagonistic approach than forcing a default. Having said that, in my opinion the loan book is not really mature enough to really gauge what is likely to happen to these loans in this situation.
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webwiz
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Post by webwiz on Sept 9, 2015 16:44:57 GMT
There's also a distinct lack of clarity over how SS might use the provision fund going forwards. I think (and am happy to be corrected) that the only thing said about it to date is that it is down to the discretion of the trustees. I understand that this is a legal requirement otherwise the PF would count as insurance and be subject to insurance legislation. All the platforms with PFs sing from the same hymn sheet on this.
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bjorn
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Post by bjorn on Sept 9, 2015 17:43:30 GMT
How do overdue loans work? Do you still get paid interest? And does being overdue indicate a risk of default? SavingStream have commented on the overdue loans and their position is that repayment is flexible depending on the borrowers circumstances and requirements. SS tells us that they discuss the position with the client and allow extensions to the loan as long as interest is paid up front to cover the likely extension period. This may be to allow refinancing or a sale to go through. Assuming that things keep progressing smoothly this is a cheaper and less antagonistic approach than forcing a default. Having said that, in my opinion the loan book is not really mature enough to really gauge what is likely to happen to these loans in this situation. I guess it could be cheaper and less antagonistic as you suggest. But with a relatively small loan book (so hard for investors to be very diversified) and a clean record so far, I've got to think that it's massively in their interests not to have anything default, so they could be keeping bad loans going when on another platform which doesn't have it's clean record to lose and investors are better diversified and less exposed, they'd just call the inevitable and go to default.
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beechside
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Post by beechside on Sept 9, 2015 19:31:21 GMT
£1818 of PBL54.
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sam i am
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Post by sam i am on Sept 10, 2015 15:46:59 GMT
SavingStream have commented on the overdue loans and their position is that repayment is flexible depending on the borrowers circumstances and requirements. SS tells us that they discuss the position with the client and allow extensions to the loan as long as interest is paid up front to cover the likely extension period. This may be to allow refinancing or a sale to go through. Assuming that things keep progressing smoothly this is a cheaper and less antagonistic approach than forcing a default. Having said that, in my opinion the loan book is not really mature enough to really gauge what is likely to happen to these loans in this situation. I guess it could be cheaper and less antagonistic as you suggest. But with a relatively small loan book (so hard for investors to be very diversified) and a clean record so far, I've got to think that it's massively in their interests not to have anything default, so they could be keeping bad loans going when on another platform which doesn't have it's clean record to lose and investors are better diversified and less exposed, they'd just call the inevitable and go to default. Maybe - there's no real evidence either way yet.
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Post by yorkshireman on Sept 11, 2015 13:57:02 GMT
Various amounts of loans 39,40,43,44 and 46 available
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Post by yorkshireman on Sept 11, 2015 15:38:18 GMT
Small amounts of 40 and 46 available
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stevio
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Post by stevio on Sept 11, 2015 21:54:44 GMT
Putting some bits up for sale now
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