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  1. #241
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    Quote Originally Posted by Saamee View Post
    It is NOT the Investor that Pays the Reseve Fund Levy > It is the Borrower!

    No Cost to the Investor at all....
    Other recent contributors got me looking a little deeper into how the SM Reserve fund works....


    SM.jpg

  2. #242
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    Jul 2002
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    Quote Originally Posted by Saamee View Post
    It is NOT the Investor that Pays the Reseve Fund Levy > It is the Borrower!

    No Cost to the Investor at all....
    You can quibble about the wording, but if there was no reserve fund, then the investor would receive bigger payments, so I still class payments to a reserve fund as money being taken from me, an investor.

  3. #243
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    Feb 2015
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    I didn't get a chance to come back and post how I got on with selling the loans (been to busy) In the end it took 9 day to liquidate ~$12,000.

    5 year loans under $500 went fast
    There were some delays on 2 & 3 year loans
    There were more delays on the loans with balances between $501-$999

    So while the process worked OK for me - not great - but OK I think the market (and ability to sell) would break should interest rates rise from when the loans were written, I also think anyone lending below the max interest rate is going to have trouble if they need to sell

  4. #244
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    Oct 2011
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    I sold a couple of loans the other week as a test and they were snapped up the same day (at the same as the top market interest rate). However, I do agree that this service will not work very well if (when) interest rates rise. I would hope that Squirrel are aware of this and are working on the ability for the loans to be sold at a price other than face value, in a similar fashion to the bond market.

  5. #245
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    Anyone else notice it looks like Squirrel have just taken some serious 'End of Year' Write Off's.

    The Reserve Fund has fallen from approx 220K to 200K and the Fund Coverage is now just 3.55% ( it was around 4% )

    Squirrel have also now chosen to stop showing the amount of $$ Loans Write Off's on the website.

    SM.PNG
    Last edited by Saamee; 22-12-2016 at 12:49 PM.

  6. #246
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    Quote Originally Posted by Saamee View Post
    Anyone else notice it looks like Squirrel have just taken some serious 'End of Year' Write Off's.

    The Reserve Fund has fallen from approx 220K to 200K and the Fund Coverage is now just 3.55% ( it was around 4% )

    Squirrel have also now chosen to stop showing the amount of $$ Loans Write Off's on the website.

    SM.PNG
    Maybe the drop(ping) in Reserve Fund size is linked to Squirrels commitment to paying in 4% over the 1st year.

    Now they will let the fund dwindle down to the 1.9% level they state it should be at?

  7. #247
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    Aug 2015
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    Quote Originally Posted by Saamee View Post
    Maybe the drop(ping) in Reserve Fund size is linked to Squirrels commitment to paying in 4% over the 1st year.

    Now they will let the fund dwindle down to the 1.9% level they state it should be at?
    Technically the fund could vary in % depending on the economic cycle. 1.9% might be fine at this point but what about during a recession where returns half and defaults double.

    http://www.lendingmemo.com/p2p-lendi...n-performance/

  8. #248
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    Jul 2016
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    Anyone using the Squirrel app? How do you find it?

  9. #249
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    Quote Originally Posted by AndyKiwi View Post
    Anyone using the Squirrel app? How do you find it?
    I'd be interested to know where did you get the idea from there is a Squirrel App??

  10. #250
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    Sep 2015
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    Search on the App Store/Google Play Store.

    It had a few bugs when I first use it, I'm currently just sticking to the mobile website as it's sufficient for me.

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