TitoPuente
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Post by TitoPuente on Nov 13, 2016 11:48:46 GMT
Lenders don't "earn" their principals back. I don't trust a business that doesn't understand the basic concepts of the industry they are operating in.
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TitoPuente
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Post by TitoPuente on Nov 12, 2016 13:53:23 GMT
Last update says "New valuation and QS report instructed. We are considering providing the development finance." Is the new valuation expected to be lower of higher than the original valuation?
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Nov 12, 2016 13:49:34 GMT
FC has been an absolute disappointment I am happy to be out for good. Is your alternate to leave P2P altogether or on which platforms are you happier with their offering? Not leaving P2P. Current portfolio with SS, MT, ABL, and COL (and a leftover for sale at LC).
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TitoPuente
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Posts: 624
Likes: 655
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Post by TitoPuente on Nov 11, 2016 21:35:26 GMT
As a sort of goodbye to FC act, I wanted to bring back to life my first post and thread in this forum.
My initial opinion proved to be quite accurate. I stand by it.
For the last 6 months I have been the proud owner of a zombie account. I could not take the rest of my money out because part of the funds were "RBR" and part were just defaulted.
FC has been dismal in defending the rights of lenders.
So called IVAs and CVAs see the companies still trading while lenders recovering pennies on the pound.
Comments stating "we are in the process of contacting borrowers/guarantors" that go for weeks on end. Weeks to make a fricking phone call.
FC has been an absolute disappointment I am happy to be out for good.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Nov 7, 2016 21:40:20 GMT
It's true to observe that markets allow more knowledgeable people to make better returns than less knowledgeable people. However, if we were to follow your logic, no markets would exist: shares, gilts, cars, houses. Unless you want free markets to be removed, it's not sufficient to observe that markets favour the strong, you need to justify why you're prepared to accept markets in shares and second-hand cars, but not in loans. This is basically just a microcosm of a socialist statist model of society, vs a liberal capitalist model. So we probably won't resolve it here. Exactly. Imagine that you buy a new build house and you can never sell it, or a car which you need to own until it is written off. Secondary markets are a natural occurrence, not a creation.
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TitoPuente
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Posts: 624
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Post by TitoPuente on Oct 10, 2016 20:28:31 GMT
(I had to unearth this beloved golden age thread)
There are right now a couple of property A+ 10 percenters that are filling very slowly. Is this because of the size or are there any other concerns? I haven't been around for a while.
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TitoPuente
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Posts: 624
Likes: 655
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Post by TitoPuente on Sept 30, 2016 20:31:26 GMT
Got £200 PBL130 allocation like everyone else (I understand). I am now -£200 balance. Normally I would cover it by a transfer or a sale (same day). However, we are due interest today (or tomorrow?). Would it be fair/appropriate to wait until the interest are paid to cover the shortfall?
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TitoPuente
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Post by TitoPuente on Sept 5, 2016 20:00:39 GMT
The risk differentiation makes sense, but given the usual overvaluation, the second tranche should be in the 14%-15% range. In the case of a default, recovery on the second tranche will likely be low.
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TitoPuente
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Post by TitoPuente on Sept 1, 2016 21:04:40 GMT
I apologise if this has been answered earlier but I could not find a reference in the FAQs: Can a Limited Company open an account?
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TitoPuente
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Post by TitoPuente on Aug 31, 2016 21:14:23 GMT
Any predictions for PBL128's allocation? The 'go-live notice' email I received said "These loans will be funded using the 'bottom-up' funding model." ...unless savingstream have made a cut & paste mistake, of course. Unless they are now changing the rules as they see fit, this should be a cut and paste mistake.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Aug 30, 2016 20:37:41 GMT
To be honest I don't see why ablrate should update us when there are no updates. If you don't trust them then you shouldn't invest but I am happy they will act professionally. Trust is not a permanent or static condition. It increases or decreases according to information and sentiment. Right now, sadly, it is going in one direction.
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TitoPuente
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Posts: 624
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Post by TitoPuente on Aug 20, 2016 9:12:03 GMT
This mess underscores the alarming ineptitude of a non-trivial proportion of the surveyors, valuers, etc. that operate in the property market these days.
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TitoPuente
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Post by TitoPuente on Aug 19, 2016 20:15:27 GMT
Yes, but the message is mute in regards of the whereabouts of the assets.
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TitoPuente
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Post by TitoPuente on Aug 19, 2016 7:18:38 GMT
It would be appropriate and professional to provide an update today. It is urgent to understand where is the asset. Edit: I stand by my deleted last sentence but choose to err on the cautious side at this point.
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TitoPuente
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Post by TitoPuente on Aug 19, 2016 7:13:10 GMT
Yesterday's comment: "An offer of refinance has been seen; the borrowers are currently sitting on £3m cash which we have asked to repay some of the loan whilst their refinance goes ahead. Currently waiting on their reaction and hopeful agreement. Otherwise, looks likely to repay on time or just slightly after due date."
Need interpreter please.
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