criston
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Post by criston on Nov 15, 2019 20:40:27 GMT
Update
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travolta
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Post by travolta on Nov 15, 2019 21:30:34 GMT
What did it say?my heart's just not in it anymore.....
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criston
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Post by criston on Nov 15, 2019 21:33:30 GMT
Nothing positive. Nothing negative. The pain continues.
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averageguy
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Post by averageguy on Nov 15, 2019 22:15:09 GMT
Doesn’t look as if the hoped for further news this evening will happen.....but then MT do post very late sometimes
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criston
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Post by criston on Nov 15, 2019 22:26:43 GMT
End date now 23/11/19
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upperdeane
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Post by upperdeane on Nov 15, 2019 23:45:48 GMT
Update on MT site (still in communication with borrower and other parties. MT hope to update us early next week).
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cedarcourtcapital
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Listening is not the same as understanding
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Post by cedarcourtcapital on Nov 16, 2019 22:04:16 GMT
Wow.... What an update, I am sure it's very existence give hope and relief to those lenders who require such regular updates.
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Post by queenvictoria on Nov 17, 2019 0:10:14 GMT
Wow.... What an update, I am sure it's very existence give hope and relief to those lenders who require such regular updates. and I trust you feel better yourself for getting that off your chest. Have a lovely evening.
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withnell
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Post by withnell on Nov 18, 2019 9:16:26 GMT
Wow.... What an update, I am sure it's very existence give hope and relief to those lenders who require such regular updates. I find it useful to know that for the last few weeks the borrower has been working with the platform, as opposed to "we haven't been able to get in contact with the borrower". I get that you don't require updating on what's going on with your loans, but it provides comfort for many to be updated that there is some progress, albeit slow.
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greatmarko
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Post by greatmarko on Nov 18, 2019 11:10:19 GMT
I find it useful to know that for the last few weeks the borrower has been working with the platform, as opposed to "we haven't been able to get in contact with the borrower". ...but we've been in this situation before; the update from 23rd Sept also stated: "...we remain in dialogue with the borrower", so there's never been a concern that MT can't get in contact with the borrower. I think lenders deserve more info than all the "fluff" kicking-the-can updates that MT have been putting out on this loan for months now. Other platforms are able to provide lenders with "meaningful" updates (even if that has to be via email/private portals rather than putting "public" updates on their site) Paraphrasing recent MT updates on this loan: 20/09/2019 "we will update lenders on Monday." 23/09/2019 "we have no further verified information to share." 27/09/2019 "We are not yet in a position to update lenders just yet" 11/10/2019 "we will update lenders next week" 18/10/2019 "we are not yet in a position to update lenders. We will let lenders know as soon as we have something to report" 09/11/2019 "we should be able to given lenders some clarity by the end of the week" 15/11/2019 "we hope to update lenders early next week" Updates saying they'll be updates aren't really updates! MT need to do something to reassure investors - not just in this loan, but I think in the platform in general.. I keep expecting to wake up any day now to find MT have gone into administration...
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averageguy
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Post by averageguy on Nov 18, 2019 12:10:38 GMT
I woke up to a lovely sunny day ..gorgeous ..just paraphrasing of course which doesn’t tell the whole story
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Post by queenvictoria on Nov 18, 2019 14:08:52 GMT
I find it useful to know that for the last few weeks the borrower has been working with the platform, as opposed to "we haven't been able to get in contact with the borrower". ...but we've been in this situation before; the update from 23rd Sept also stated: "...we remain in dialogue with the borrower", so there's never been a concern that MT can't get in contact with the borrower. I think lenders deserve more info than all the "fluff" kicking-the-can updates that MT have been putting out on this loan for months now. Other platforms are able to provide lenders with "meaningful" updates (even if that has to be via email/private portals rather than putting "public" updates on their site) Paraphrasing recent MT updates on this loan: 20/09/2019 "we will update lenders on Monday." 23/09/2019 "we have no further verified information to share." 27/09/2019 "We are not yet in a position to update lenders just yet" 11/10/2019 "we will update lenders next week" 18/10/2019 "we are not yet in a position to update lenders. We will let lenders know as soon as we have something to report" 09/11/2019 "we should be able to given lenders some clarity by the end of the week" 15/11/2019 "we hope to update lenders early next week" Updates saying they'll be updates aren't really updates! MT need to do something to reassure investors - not just in this loan, but I think in the platform in general.. I keep expecting to wake up any day now to find MT have gone into administration... I agree. Their style of communications remind me of Lendy but I am surprised that they dont want to do all they can to distance themselves from such platforms. I appreciate that there is a school of thought that they should just stay quiet until there is something substantive to report but I cannot think of any other area of my life where things matter and where I am happy to just to receive exception reporting e.g. management and board reports at work, kids school reports etc
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eeyore
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Post by eeyore on Nov 18, 2019 15:57:26 GMT
...... but I cannot think of any other area of my life where things matter and where I am happy to just to receive exception reporting e.g. management and board reports at work, kids school reports etc I think that it boils down to "where things matter" to each of us! In the crucial area of my household income now that I've retired, my two occupational pensions provide only annual members newsletters and the State Retirement Pension issues nothing (other than what I'll be getting in the next financial year). My equity investments provide annual reports (with quarterly updates if I go looking for them). My "loans" to banks and building societies result only in annual statements (with annual reports to members from building societies). It seems to me that it's only with high-rate P2P loans that frequent status updates are issued, perhaps because it's recognised that these loans are high-risk and that lenders have a much greater desire for reassurance. For lower-rate loans, for example at Proplend, nothing ever seems to be published until shortly before redemption.
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Post by brianac on Nov 18, 2019 18:25:14 GMT
Redemption. ... I dream of redemption ...  Brian |
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withnell
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Post by withnell on Nov 19, 2019 10:09:09 GMT
...... but I cannot think of any other area of my life where things matter and where I am happy to just to receive exception reporting e.g. management and board reports at work, kids school reports etc I think that it boils down to "where things matter" to each of us! In the crucial area of my household income now that I've retired, my two occupational pensions provide only annual members newsletters and the State Retirement Pension issues nothing (other than what I'll be getting in the next financial year). My equity investments provide annual reports (with quarterly updates if I go looking for them). My "loans" to banks and building societies result only in annual statements (with annual reports to members from building societies). It seems to me that it's only with high-rate P2P loans that frequent status updates are issued, perhaps because it's recognised that these loans are high-risk and that lenders have a much greater desire for reassurance. For lower-rate loans, for example at Proplend, nothing ever seems to be published until shortly before redemption. You refer the the "push" type of communications, which are generally infrequent - but there's often an online portal that gives the current pricing, or you can ring up and easily get an update. P2P in general is a long way off the transparent risk-based pricing that other markets enjoy; ABLrate is potentially closest but even then that's the ability to create a price rather than the level of information required to create an informed price My need for the information is to aid my personal planning - there's no guarantee of anything repaying, but if you have good updates then you can make informed choices about what to buy/sell elsewhere. If say my MT funds are to save for a car, if I know there's a decent chance of repayment next week I can start looking on AutoTrader or similar, but if I know it's a legal battle of c. 9 months I might look to sell some equities
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