star dust
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Post by star dust on Aug 26, 2017 17:21:54 GMT
Mod Hat On/ I have just merged the old MTAT709 thread with this one to keep all the posts on this loan together. There may be a couple of posts made on the 'old' thread yesterday that now seem a bit misplaced, but hopefully still intelligible.
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jonah
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Post by jonah on Aug 27, 2017 7:15:40 GMT
MoneyThing NOT good enough. Please commit NOW to telling your investors by the next working day that a borrower has MISSED their payment under your Support function (updating as necessary for any technical glitch or delay only when paid - note this is regardless of whether MT have paid it and hidden the missed payment from the knowledge of investors) - the other platforms I invest in do this as a matter of course. We should NOT expect the 1st update of a mid-term loan to be confirmation of its DEFAULT without any prior notification where there has been NON-PAYMENT. I regard this as professionally NEGLIGENT, Ed. As I can no longer trust your platform, I liquidated 35% of my holding to ensure every loan was inside tolerance for future defaults without any prior notification. By a long margin the worst communication of any platform I have invested in. Afternoon elliotm, I do appreciate your and other lenders frustration. I did however ask if lenders could wait until the debrief and at which time I will be happy to hold our hands up if we have done wrong. However it would be inappropriate to discuss the events whilst in the middle of this process as it could easily have an adverse effect on the ability of the Administrator to do their job as effectively. If you have decided you wish out then this is your decision and perhaps you might revisit this decision after the post-mortem. Kind regards, Ed I think you are talking cross purposes. MoneyThing Ed you seem to be talking about the specifics for this loan being discussed after the activities for this loan are concluded. An approach I support. elliotn however is talking I think about the general approach for all loans moving forward and has a suggestion about how communication on how they are running should be maintained. Personally whilst I agree with the principle behind this suggestion, I would add in a week or so tolerance period for bank holidays, weekends, money clearing etc.
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Post by elephantrosie on Aug 28, 2017 23:55:25 GMT
how many months into the loan is this MTAT788 before it defaulted?
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Post by elephantrosie on Aug 29, 2017 0:24:06 GMT
should i be worried about my MT investments? should i sell out? MT please clear my mind.
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johni
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Post by johni on Aug 29, 2017 7:47:01 GMT
should i be worried about my MT investments? should i sell out? MT please clear my mind. If you look at the updates on 24th August I think you will find MT have done this already.
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archie
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Post by archie on Aug 30, 2017 13:53:11 GMT
Update on the platform.
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SteveT
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Post by SteveT on Aug 30, 2017 13:59:42 GMT
Update on the platform. A good example of why platforms should be applauded for taking rapid enforcement action when a property loan first hits problems! Hopefully a fairly straightforward recovery process, and already underway.
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elliotn
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Post by elliotn on Aug 30, 2017 14:14:49 GMT
MoneyThing thank you very much for this timely update.
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m2btj
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Post by m2btj on Aug 30, 2017 14:22:56 GMT
Good work from Ed & the Things! Great communication & an object lesson in the swift handling a property loan default
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Post by thecleaner on Aug 30, 2017 14:33:40 GMT
Looking good to me this one. Well done moneything.
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Post by geraldine1210 on Aug 30, 2017 14:56:34 GMT
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dovap
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Post by dovap on Aug 30, 2017 16:17:51 GMT
Well I'm seething: where was the pre-update post announcing an impending update?
wibble
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Post by GSV3MIaC on Aug 30, 2017 16:17:55 GMT
Yep, good work .. all the better for saying 'there'll be a further announcement on 30th Aug', and then making a further announcement on 30th Aug. The new 'support tab with updates and exclamation mark" works well, but maybe we need the (option of) an email 'push' system too, for those who don't log on nearly enough?
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Post by elephantrosie on Aug 30, 2017 17:14:02 GMT
90% confident this will pay capital plus interest (my prediction lol)
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Post by elephantrosie on Sept 2, 2017 14:30:32 GMT
i thought ive asked this question but cannot retrieve it anywhere.
how long was this loan before it has gone defaulted? i remember this as a relatively young loan.
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