southport
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Post by southport on Nov 22, 2017 10:21:04 GMT
Hmm so potentially 50% didn't get the email hence why 2nd loan hasn't flooded yet. Do I sell or keep? SELL SELL SELL!!!! I sold all mine this morning before I read that it was a soft default and I would like to get it back please...
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zendog
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Post by zendog on Nov 22, 2017 10:21:18 GMT
Yep, that's the last one I got as well. I've emailed and let them know that there seems to be an issue, and that there are others on the forum with the issue. My last was the pipeline email, needs to be sorted. I got the email and I don't even hold any of the loans!
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oldgrumpy
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Post by oldgrumpy on Nov 22, 2017 10:22:38 GMT
I had no email. Only found out this morning.
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carolus
Member of DD Central
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Post by carolus on Nov 22, 2017 10:33:42 GMT
Out of interest is anyone else who didn't receive the emails using gmail? I'm just wondering whether it could be an issue with google's filters or something.
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archie
Posts: 1,854
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Post by archie on Nov 22, 2017 10:39:06 GMT
Out of interest is anyone else who didn't receive the emails using gmail? I'm just wondering whether it could be an issue with google's filters or something. I'm not.
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snowmobile
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Post by snowmobile on Nov 22, 2017 10:40:14 GMT
So what would be the effect on the 2nd loan which just was issued last month? Work is likely to start later than originally planned. We were told that the team would be redeployed straight over from the 1st project. I would think it very unlikely that has happened yet. I can't see MT wanting to advance further development funds to start work while the 1st project remains in default. The loan was for more than the actual cost of the site. This was clearly stated at the outset and lenders had to make up their own mind on what would be a more likely LTV to consider in the event of default. There is potentially a risk that excess funds could have been diverted to finish off the 1st development. A update is needed on whether the pre-sales agreement with the overseas investor has been executed. A significant risk, given that the overseas buyers for the 1st development didn't go ahead
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oldtimer
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Post by oldtimer on Nov 22, 2017 10:44:22 GMT
Out of interest is anyone else who didn't receive the emails using gmail? I'm just wondering whether it could be an issue with google's filters or something. Working for me on gmail
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Post by badboyyardy on Nov 22, 2017 10:49:29 GMT
So what would be the effect on the 2nd loan which just was issued last month? Work is likely to start later than originally planned. We were told that the team would be redeployed straight over from the 1st project. I would think it very unlikely that has happened yet. I can't see MT wanting to advance further development funds to start work while the 1st project remains in default. The loan was for more than the actual cost of the site. This was clearly stated at the outset and lenders had to make up their own mind on what would be a more likely LTV to consider in the event of default. There is potentially a risk that excess funds could have been diverted to finish off the 1st development. A update is needed on whether the pre-sales agreement with the overseas investor has been executed. A significant risk, given that the overseas buyers for the 1st development didn't go ahead Yep some of my thoughts - my issue is I kept asking MT about updates for M** H*** and this and getting told update next week - one repaid /one default (50/50) says it all.
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carolus
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Post by carolus on Nov 22, 2017 11:02:01 GMT
Out of interest is anyone else who didn't receive the emails using gmail? I'm just wondering whether it could be an issue with google's filters or something. Working for me on gmail Well, scratch that idea! Apparently they're now investigating.
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keith
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Post by keith on Nov 22, 2017 12:40:20 GMT
I think, though, this raises a wider issue. This one had obviously linked loans and the situation on one loan has an impact on another. Sometimes, we see this obviously on a cross-platform basis - loan taken on A and repays on B. However, I am increasingly concerned that there are links between some loans and borrowers that are not readily apparent to us. There is a concern here that, should defaults rise beyond a certain point, there is a danger of a systemic risk. It seems to me that the risks are increasingly becoming more than that justified on a 12% or whatever based on an individual loan default.
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Post by shyinvestor on Nov 22, 2017 14:21:07 GMT
It is really useful to know which, and how many, loans a particular borrower has. Difficult to see how this might work though when a borrower has fingers in different pies, and particularly if those pies are spread over several lending sites.
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markb
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Post by markb on Nov 22, 2017 14:26:02 GMT
IMO, I not sure I would call this loan defaulted (just simply overdue and in arrears) Is it even in arrears yet? I think that my account's been credited with all of the interest that was due today - are you saying that those funds came from MT rather than the borrower?
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misscas
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Post by misscas on Nov 22, 2017 14:30:28 GMT
This is increasingly the $64000 dollar question in P2P. I am grateful to all posters who flag up a borrower's loan(s) or connections on platforms I do not use.
Edit: reply to shyinvestor
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Nov 22, 2017 14:42:46 GMT
I would suggest anyone who didnt get email contacts MT direct so they can investigate. They wont know who you are from here.
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carolus
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Post by carolus on Nov 22, 2017 14:57:03 GMT
I would suggest anyone who didnt get email contacts MT direct so they can investigate. They wont know who you are from here. Yes, I've done so and now received confirmation that they've resolved the issue. As I understand it everyone should now be receiving all the emails going forwards.
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