seeingred
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Post by seeingred on Feb 23, 2017 10:37:15 GMT
Is there a good reason why so many Uxbridge loan parts are now available? Many have 0.0% premium and for good rates (by FC standards). Thousands are for sale, Uxbridge1,2,3,4 etc.
I couldn't find another thread mentioning Uxbridge.
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SteveT
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Post by SteveT on Feb 23, 2017 10:42:15 GMT
Is there a good reason why so many Uxbridge loan parts are now available? Many have 0.0% premium and for good rates (by FC standards). Thousands are for sale, Uxbridge1,2,3,4 etc. I couldn't find another thread mentioning Uxbridge. It was discussed a couple of pages back in the "Prop em up" thread. FC messed up and initially listed the first tranche as an A+ loan at 10%, which filled very rapidly for obvious reasons. They then decided it needed to be re-categorised as an A loan (still at 10%) and listed another tranche accordingly, which they then used to repay the A+ tranche immediately. My guess is that a lot of people saw "Uxbridge" and "10%", assumed it was the 2nd tranche of the A+ loan and filled their boots, only later realising that it was now an A loan and nothing special. Hence a lot of early exiting.
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seeingred
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Post by seeingred on Feb 23, 2017 10:48:27 GMT
Yes, thank you. It is a refinance of earlier loans - yet another extension but looks OK. I hadn't appreciated the FC mix-up.
Not sure A+ and A means much these days??
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SteveT
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Post by SteveT on Feb 23, 2017 10:55:07 GMT
Not sure A+ and A means much these days?? An A+ loan at 10% offers much better prospects for flipping later at a premium than an A loan at the same rate.
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