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Post by loanstar on Jul 17, 2015 19:52:17 GMT
Very surprised to see loan 14216 which is a secured loan (on property) is being very slow to fill. Is there a flaw that I'm missing?
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Post by GSV3MIaC on Jul 17, 2015 20:53:22 GMT
I don't think there is any obvious reason, however there are at least 23 unfilled loans right now, including some whopping property loans (also secured, with cashbacks) so I'm not surprised it is not yet filled. I expect autobid over the weekend will manage to push this, and others, over the line, assuming repayment runs happen (although 23 is an awful lot, and they'll all edge up in unison, once the laggards catch up, a percent at a time). At 5 years, with not much chance of a high close rate, maybe most folks would settle for 14210 - guaranteed >11% (with CB), guaranteed (probably, probably quick) acceptance / drawdown, no chance of your bid getting knocked out, etc.
(This is not advice as to the relative merits, just some things people may be considering).
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blender
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Post by blender on Jul 17, 2015 21:55:56 GMT
It is good that 14216 is to be secured on property but this is not a property development loan nor a commercial mortgage, but just a loan to a business. So it is best to assess the business first and the security second, because we want to receive interest not recoveries.
It is a puzzle where the rest of the cash for purchasing the land will come from, because it is not in the business. It looks quite an ambitious project for a business with that lack of current assets. But we do not get to see the full picture or the business plan. So do you take a punt? The property development/bridging loans look attractive at present and 14216 will probably be filled by autobidders, as GSV suggests.
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am
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Post by am on Jul 17, 2015 22:25:40 GMT
What is the legal difference between a loan secured on a property and a commercial mortgage?
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am
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Post by am on Jul 21, 2015 18:36:13 GMT
This has closed at a marginal rate of 12.8%. These seems to have been a general spike in rates, so I might (if they're accepted) get my first SME loans since February.
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Post by goldservice on Jul 21, 2015 19:38:12 GMT
12.8%? I got a marginal rate of 11.7% on 14126A.
14191A closed with a marginal rate of 12.9%
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am
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Post by am on Jul 21, 2015 19:43:16 GMT
12.8%? I got a marginal rate of 11.7% on 14126. Oops - mixing up loans. 12.8% was 14191.
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blender
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Post by blender on Jul 21, 2015 21:55:29 GMT
What is the legal difference between a loan secured on a property and a commercial mortgage? That needs an expert reply rather than a guess. One to ask FC perhaps.
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