cooling_dude
Bye Bye's for the PPI
Posts: 2,853 
Likes: 4,298
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Post by cooling_dude on Feb 15, 2017 15:29:14 GMT
LIVE LOAN
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| -------------- | | Loan Amount | : | £ | 322,000
| | Security Value | : | £ | 460,000
| | SS Indicated LTV | : |
| 70% | | 90 Day Market Valuation | : | £ | 370,000
| | LTV Based on 90 day Market Valuation | : |
| 87%
| | Term | : |
| 183 days | % PA
| : |
| 8% |
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cooling_dude
Bye Bye's for the PPI
Posts: 2,853
Likes: 4,298
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Post by cooling_dude on Feb 15, 2017 15:38:47 GMT
I'm sorry, but this is ridiculous A high-risk loan (70% LTV/ 87% 90 Day) to a borrower that unlawfully claimed on his VAT return (c2014), and what do investors get? 8%  Ridiculous - anyone investing is mad - those who do are having their ignorance exploited Other people's money you are playing with savingstream ... not yours - Other people's money  |
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Post by portlandbill on Feb 15, 2017 15:42:27 GMT
I was just thinking the same.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Feb 15, 2017 15:56:05 GMT
It's gone waaaaaaaaaaay beyond Taking The Urine.
But The Lemmings will pile in as usual, and "The Authorities" will stand idly by, looking on, and do FA, as usual.
btw, what Interest Rate would The SS charge on this, nice fat margin methinks?
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ganymede
Member of DD Central
Posts: 304
Likes: 211
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Post by ganymede on Feb 15, 2017 16:25:12 GMT
Too risky for me. Could have problems selling on the SM, so leaving for others.
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trevor
Member of DD Central
Posts: 557
Likes: 381
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Post by trevor on Feb 15, 2017 16:33:44 GMT
Bargepole
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oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
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Post by oldgrumpy on Feb 15, 2017 16:37:25 GMT
I'm sorry, but this is ridiculous A high-risk loan (70% LTV/ 87% 90 Day) to a borrower that unlawfully claimed on his VAT return (c2014), and what do investors get? 8% Ridiculous - anyone investing is mad - those who do are having their ignorance exploited Other people's money you are playing with savingstream ... not yours - Other people money Oh come on Dude! Didn't you read this reassuring message from SS less than a week ago? Let me remind you. Paul spun said: " One of our bigger initiatives, which we wrote to you first about late last year, is to offer you the chance to invest in loans that pay lower monthly rates. This in turn allows us to offer lower cost finance to borrowers, which should boost our quality loan flow. We've had some success here, and you will have seen over recent weeks a stronger mix of loans starting at 8% up to 12%. So this 8% one must be a real quality loan. QED.  Edit: Oh, Paul didn't use all that bold and red colour.
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,168
Likes: 4,859
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Post by ozboy on Feb 15, 2017 16:53:50 GMT
This Loan should never have been entertained in the first place, let alone put on the site. Another excellent example of where SS is at, and where they're going. Caveat Emptor Ad Infinitum cum de SS! ( <- I never studied Latin but I think y'all get my drift! )  I mean, come on ........................... 8%??!!!!! |
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Feb 15, 2017 16:59:56 GMT
With a sh!tty stick on the end.
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guff
Posts: 730
Likes: 707
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Post by guff on Feb 15, 2017 17:02:04 GMT
With a sh!tty stick on the end. Agreed, but which end?
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twoheads
Member of DD Central
Programming
Posts: 1,089
Likes: 1,192
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Post by twoheads on Feb 15, 2017 17:08:58 GMT
With a sh!tty stick on the end. Agreed, but which end? The right end.
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Post by Deleted on Feb 15, 2017 17:17:27 GMT
Punt pole, as I have been doing for the last couple of weeks. Too high risk for too little money. While some of the LTV's just look dodgy, given potential governmental movements on housing.
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bernard
Member of DD Central
Posts: 66
Likes: 24
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Post by bernard on Feb 15, 2017 17:18:07 GMT
I think proof, if we really needed it, that SS care little for loan quality and have gone into 'pump it and dump it' mode. What a way to quickly destroy positive credibility built up over a few years. All prefunds set to zero methinks unless one has a very close and careful look beforehand.
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adrianc
Member of DD Central
Posts: 10,019
Likes: 5,147
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Post by adrianc on Feb 15, 2017 17:29:32 GMT
I think proof, if we really needed it, that SS care little for loan quality and have gone into 'pump it and dump it' mode. What a way to quickly destroy positive credibility built up over a few years. All prefunds set to zero methinks unless one has a very close and careful look beforehand. I'm starting to agree.
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dovap
Member of DD Central
Posts: 467
Likes: 410
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Post by dovap on Feb 15, 2017 17:37:13 GMT
Blimey - no-one actually believed that dropping rates was in any way related to the quality
of what plops out of the pipeline
really ?
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