applets
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Post by applets on Oct 24, 2017 17:14:23 GMT
Another default today and news of a further early repayment.
A shrinking loan book on top of a pipeline that has produced very little over recent months and appears not to offer a great deal in the next few months, outstanding DD from this forum that has shone a spotlight on the quality of loans on offer, loans withdrawn, a reduction in the standard of communication with lenders, hidden information about an earlier loan default, a lack of clarity on the performance of loans and the payment of interest..... What is the future of MT?
Perhaps there is more to the current sell off .......
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Post by Deleted on Oct 24, 2017 17:28:26 GMT
Its ALIIIIIIIIIIIIIIIIVE!! Feeding frenzy started already, fish all been eaten
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fogey
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Post by fogey on Oct 24, 2017 18:08:33 GMT
The abysmal timing and lengthy duration of the market suspension has unfortunately induced an acute level of paralysis which will now take some time to resolve ...
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kermie
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Post by kermie on Oct 24, 2017 20:46:49 GMT
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m2btj
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Post by m2btj on Oct 25, 2017 6:49:06 GMT
With over £780k on the SM this morning there's plenty of good loans up for grabs. The sell out on Liverpool continues & stands at just over £228k. This is one of my favourite loans & I struggled to pick anything up on it last week. Maybe the CB on NuL was too tempting an offer & some portfolios have been seriously trimmed to raise cash. I expect to see the first SM activity on NuL shortly.
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toffeeboy
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Post by toffeeboy on Oct 25, 2017 10:27:34 GMT
With over £780k on the SM this morning there's plenty of good loans up for grabs. The sell out on Liverpool continues & stands at just over £228k. This is one of my favourite loans & I struggled to pick anything up on it last week. Maybe the CB on NuL was too tempting an offer & some portfolios have been seriously trimmed to raise cash. I expect to see the first SM activity on NuL shortly. Depends when NuL draws down as I assume that you still have to be holding your stake at draw down to be eligible for the cash back, as soon as that happens then I believe you will be right about the SM filling up. I am sure a lot of people funded more than they are comfortable with to get the cash back
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archie
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Post by archie on Oct 25, 2017 11:37:19 GMT
With over £780k on the SM this morning there's plenty of good loans up for grabs. The sell out on Liverpool continues & stands at just over £228k. This is one of my favourite loans & I struggled to pick anything up on it last week. Maybe the CB on NuL was too tempting an offer & some portfolios have been seriously trimmed to raise cash. I expect to see the first SM activity on NuL shortly. Depends when NuL draws down as I assume that you still have to be holding your stake at draw down to be eligible for the cash back, as soon as that happens then I believe you will be right about the SM filling up. I am sure a lot of people funded more than they are comfortable with to get the cash back You can't sell it before draw down.
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copacetic
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Post by copacetic on Oct 25, 2017 11:54:46 GMT
I'm starting to come round to the idea of being able to offer discounts and possibly premiums on the secondary market as it would stop imo rather daft panicking. I see a chunk of the Bury loan which is a 12% rate 15% LTV loan which looks to me to be pretty safe bet even if it were to default. I think it's an opportunity for those big hitters that look at the security rather than market sentiment and hoover up all the good loans the spooked sheeple are dumping.
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fogey
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Post by fogey on Oct 25, 2017 14:43:25 GMT
There is a lot of new money going into liverpuddles today (21k very recently), but as soon as it does more people put sale orders in, so that the SM availability figure never changes that much. I recently noticed that potential future buyers are buying poundland markers, so they can track how much new investment is really taking place and how much the new queuing sales orders are hiding this. This is easily seen in their personal sales queuing data within their sales listings. This is very important for at some critical level the queuing money will quickly evaporate and then they will have lost the opportunity to buy in. Just before this critical point there will be another panic to buy in and then they will have left it too late of course. No one really knows when this will happen but the tracking markers give a very good guide to the rate of new investment and a sensible prediction for this critical point.
Edit: I have just seen the availability drop by 15k for £3 of sales.
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parisingoc
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Post by parisingoc on Oct 25, 2017 16:10:20 GMT
I think it's an opportunity for those big hitters that look at the security rather than market sentiment and hoover up all the good loans the spooked sheeple are dumping. Don't assume that they are all sheep. Some of us have very clear strategic investment plans and those plans may include returning to cash as a particular objective in the plan gets closer and real money has to be handed over.
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copacetic
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Post by copacetic on Oct 25, 2017 20:13:42 GMT
I think it's an opportunity for those big hitters that look at the security rather than market sentiment and hoover up all the good loans the spooked sheeple are dumping. Don't assume that they are all sheep. Some of us have very clear strategic investment plans and those plans may include returning to cash as a particular objective in the plan gets closer and real money has to be handed over. I don't think for a moment that everyone who everyone that is selling is necessarily part of the flock. However, unless people that are selling are doing so based on information that hasn't been released then, as there wasn't any new development yesterday, it's just a reaction to Prestbury and possibly someone opening the gate by selling off a big chunk. www.youtube.com/watch?v=vj9DKaKPH5U
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fogey
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Post by fogey on Oct 25, 2017 21:46:49 GMT
Indeed the first selling appeared very shortly after the true Prestbury situation was deduced here, before any formal statement from MT. Initially for 10k and then subsequent amounts of 20k and 46k. All of these were eventually completely absorbed by the SM. However on the following day there was a more concerted selling attempt, just as the market was being suspended, taking the selling well over 50k. Events therefore conspired against any natural buying response with the perhaps predictable consequences that we are still seeing today ... This unfortunate timing was just a coincidence of course ...
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snowmobile
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Post by snowmobile on Oct 25, 2017 22:36:20 GMT
Given all the recent discussion on here, I wonder if there is a fear that some new information has been uncovered by the secret 60 forum I suspect it might be more to do with the 13% interest rate, being the same as Prestbury and perceived as higher risk. There was also a large amount of the holiday park loan up for sale last night, although that cleared quickly this morning. As others have pointed out already, there is nothing to lose by joining the queue. It is very easy to cancel the sale, or re-buy from the end of the queue, if it all proves unfounded panic selling.
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fogey
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Post by fogey on Oct 26, 2017 0:31:15 GMT
The common 13% risk factor was known before the market suspension of course, as was the knowledge that Prestbury would default, although some chose to ignore the obvious and live in some sort of dream world. So I am not sure that common risk factor had any effect on the eventual outcome. The holiday park was not subject any intense selling pressure going into the market suspension so it was not comparable in this regard. I am sure that many investors had a high exposure level and therefore sought to reduce it, perhaps all tried to do so within the same narrow time frame. This may still be the case and may explain the current situation. But the high exposure came from a very successful launch and a high confidence in the loan, so perhaps the current situation should be seen as a sign of strength rather than weakness.
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fogey
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Post by fogey on Oct 26, 2017 10:37:36 GMT
With a recent 50k investment combined with around 25k being taken away from the queue with no corresponding investment the time for getting back into this loan has shortened considerably ...
Edit: another 18 k investment and further evidence of queue evaporation not long now !
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