mnm
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Post by mnm on Dec 10, 2016 10:34:47 GMT
Any thoughts?
T****r M*** P******y M***g*m**t Ltd
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kaya
Member of DD Central
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Post by kaya on Dec 10, 2016 12:19:09 GMT
I would be cautious. They have been good payers on their present loan, but now they want to increase their borrowing - and their 'refinancing' is very likely to end up with a rate higher than their present loan. Now why would they want to do that?
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kaya
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Post by kaya on Dec 10, 2016 13:08:21 GMT
With the high risk associated with loans on this platform, I'm only willing to accept top rate now. When the BH'ers come in late and intentionally knock out the higher bids, this may lead to 'ordinary' investors being unwilling to re-bid. If there is trouble later on, it can be impossible to sell unless you have top rate. It is also annoying to have this happen - but increasingly it is the large bidders that are keeping Rebs afloat, so us small folk aint so important.
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kaya
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Posts: 1,150
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Post by kaya on Dec 10, 2016 16:42:29 GMT
Yes, I'd support that: lower starting rates and 0.1% (or 0.25%) increments - and safer loans for presentation. Although I like a good moan about Rebs now and then (and why should I not, after being, arguably, conned persuaded into supporting loans by worthless 'security' and then (imo) subjected to fraudulent spinning of lies tall tales - a circus that continues with most every default update), I've continued to support (some) loans, whilst many other lenders have bailed out completely. Yet twice recently I've had my early bids knocked out late on, by being deliberately undercut by very large BH bids. This is good for Rebs in getting the loan filled, good for the borrower with a slightly lower rate - but at the cost of disenfranchising many ordinary lenders - and this a time when Rebs need all the support they can get (and I refuse to re-bid). Admittedly its a fine balancing act, but if lenders see better 'quality' borrowers, they will accept somewhat lower rates, and there will then be no need for rate manipulation. I am of the firm opinion that BH bids should avoid knocking out any earlier bids when filling a loan. As for the loan in question here, I can't see it finishing with a rate close to the 14.77% achieved last time around. Unless of course...
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