fp
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Post by fp on Jun 5, 2017 12:15:34 GMT
Dfl25 was the 1st recent 12% loan not to fill as were the latest tranches of mid-development Herc & Arby and there are now hundreds of thousands of all three available on the SM. If that was in anyway linked to the SM and investor confidence then it would be a myopic owner that would be happy to save one & a half grand at the expense of not being able to fill an ever increasing pipeline. There is nothing to say that underwriters don't take any loans that don't fill at pre-fund.
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seeingred
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Post by seeingred on Jun 5, 2017 13:08:14 GMT
And how much do underwriters charge?
What Lendy needs is more new capital and/or some repayments of existing loans. We also need to see more evidence of their ability to deal with DEF loans. Somerset and Gloucester are bad enough but there are other loans due to go DEF status by the summer.
A large number of DEF loans on the platform will not attract new investors. These loans need sorting, despite that they are (at the moment) only a small % of the loan book.
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jcb208
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Post by jcb208 on Jun 5, 2017 13:50:26 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital
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skippyonspeed
Some people think I'm a little bit crazy, but I know my mind's not hazy
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Post by skippyonspeed on Jun 5, 2017 14:17:45 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital I hope not, 'cos with their what seems short term outlook, they will probably just use it to create even more pipe dream loans and make matters worse for us.
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2017 14:24:10 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital I hope not too. AC spent a lot of time and effort designing the QAA and it is very unclear what will happen if loans default and there is not enough left in the fund. Some lenders will have to take the hit but nobody (I suspect not even AC) can say which ones it will be. A half baked similar scheme from LY could be a disaster.
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Post by GSV3MIaC on Jun 5, 2017 14:54:01 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital You mean like the mini-bonds which have been discussed here p2pindependentforum.com/thread/7694/mini-bond at some length??
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littleoldlady
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Running down all platforms due to age
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Post by littleoldlady on Jun 5, 2017 15:43:10 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital You mean like the mini-bonds which have been discussed here p2pindependentforum.com/thread/7694/mini-bond at some length?? No I don't think he does. The USP of QAA is liquidity. Can't compare with a 3 year bond.
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Post by GSV3MIaC on Jun 5, 2017 16:44:50 GMT
I guess that depends on whether the bond is tradeable .. if it isn't, then no.
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mikeh
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Post by mikeh on Jun 5, 2017 16:47:03 GMT
I guess that depends on whether the bond is tradeable .. if it isn't, then no. Almost certainly not, I would of thought.
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gurberly
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Post by gurberly on Jun 5, 2017 18:25:09 GMT
I wonder if we will see a quick access account like AC any time soon, it will give Lendy more working capital You mean like the mini-bonds which have been discussed here p2pindependentforum.com/thread/7694/mini-bond at some length?? Ooh fook yes, I'd forgotten about them... do you think they've sold many?
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GeorgeT
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Post by GeorgeT on Jun 5, 2017 18:56:47 GMT
Illiquid monster? Just checked my email account and it is a glorious sight. There are a lot of buyers in action on the SM today: NB. My loans are all long dated 12%ers. But the quality stuff still sells fast. I listed all this stuff yesterday. Please stay clam. Attachments:
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Post by Deleted on Jun 5, 2017 19:15:10 GMT
Yes, theres definitely still buying going on in the decent stuff.
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Post by mrg on Jun 5, 2017 19:57:30 GMT
Forgive me I'm new around here. Although have been investing in a number of products for years and p2p maybe 2 years. I was just reading through some of your posts and was interested in seeing your reasoning behind the current reduced liquidity and some members calling for a reduction of pipeline loans. Perhaps I'm being naive but I assumed the sudden flow of pipelines to be an essential in keeping the Lendy platform healthy. It wasnt that long ago when there were too many pounds chasing too few loans and right now im nervous of us quickly heading back to that situation with a massive loan in Wolverhampton paying back before year end. At which point Lendy need to offer us £12m more loans or risk losing the £12m altogether as no one wants to keep money on the table without a loan to buy. Perhaps I'm old school but I have always found good old WB's words to be helpful "Be Fearful When Others Are Greedy and Greedy When Others Are Fearful"
Anyway fantastic discussions going on on here.
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jonah
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Post by jonah on Jun 5, 2017 20:09:57 GMT
mrg a large dfl repaying would probably clear up the SM a lot. The problem is that none seem quite baked through yet, might needing quite a few more turns in the oven and we need to keep paying the electricity to be own whilst they finish up. Personally I'm suspecting that in 3-4 months we could be looking back at this and be moaning about the lack of availability, but to get there the level of DEF needs to go down and the balance between incoming and outgoing flip a bit.
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Post by mrg on Jun 5, 2017 20:16:31 GMT
Got it. But by the looks of it a huge chunk of the defaults all stems from one borrower, is that correct? So is that an anomaly?
Supposing that £12m Wolverhampton loan paid back in 4 months do you think there would be a lot of it leave the platform, or are the guys selling (or indeed on this forum) the exception to the rule and the majority of investors are passive (buy a loan they like the sounds of and ride it out) in which case there will be £12m trying to find a home on a platform that currently offers ~£6m on the SM.
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