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Post by longjohn on Dec 22, 2016 19:00:19 GMT
30321 property loan went live yesterday and has been RBR'd today at 18:24. Some sort of admin error in the listing apparently.
They will explain all tomorrow (well, some version of all).
J
Edit - Arrgh! loan is 30231 (I need a spellcheck for numbers)
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Post by bracknellboy on Dec 22, 2016 22:01:18 GMT
Probably should have been a C rather than an A+, but was probably intended to be an A rather than an A+....speaking as someone who knows nothing about the loan, but gets the general drift of where FC has been going.
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Bill_D
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Post by Bill_D on Dec 22, 2016 22:21:19 GMT
Could be due to being listed as first of multiple loans, when this loan was for the full required funding
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am
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Post by am on Dec 23, 2016 0:08:28 GMT
Probably should have been an A instead of an A+. AARRGG! Don't say that, I'm piling into today's 10% A+ too! I totally trust the FC rating system so wouldn't touch it if it was only an A...  Very similar deal, a completed project (nearly) re-fi to give time for sale. What could possibly go wrong??? ( definitely a rhetorical question  )  30394? On the one hand an LTV of 56% is encouraging. On the other hand the valuation seems out of line for 4-bedroom houses in Shrewsbury suburbs.
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metoo
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Post by metoo on Dec 23, 2016 3:44:41 GMT
Probably should have been an A instead of an A+. 30321 probably should have been an A+ instead of an A ... 30394? On the one hand an LTV of 56% is encouraging. On the other hand the valuation seems out of line for 4-bedroom houses in Shrewsbury suburbs. And up 26% on the valuation of 18 months ago ... has the spec changed drastically inside, or has there been a house price boom in that part of Shrewsbury? Surely they couldn't make a mistake? They could let us see the valuations!
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ptr120
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Post by ptr120 on Dec 23, 2016 7:54:36 GMT
The loan was listed as and 'A' bot the investor report states 'A+'. The loan will need to be repaid and relisted
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blender
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Post by blender on Dec 23, 2016 9:20:30 GMT
I invested as an A. Do not read the investor reports as I sell before the end game. Secured property at 10% or over, A+ preferred. Probably their system will demand that the first month's interest is paid, but the borrower will not be keen to pay it and FC will not wish to involve the borrower. I think I would just run with it and offer to relieve any lender who is unhappy.
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metoo
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Post by metoo on Dec 23, 2016 16:03:25 GMT
A garbled note now too. Was it also the shortest RBR?
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ptr120
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Post by ptr120 on Dec 23, 2016 16:10:04 GMT
So they don't care that some lenders invested thinking that this was an A+ loan but it is in fact an A loan. Sloppy FC, Very sloppy. However, it is no more than I have come to expect from them these days.
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blender
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Post by blender on Dec 23, 2016 18:11:28 GMT
If you complain to customer services that you believed it was an A+, then I am sure they will refund you. I don't expect any more than that from FC these days - most bidding is blind.
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