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> P2P financing, A place to talk about P2P financing (Investment)

WhitE LighteR
post Jan 4 2019, 08:49 PM

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QUOTE(jack2 @ Jan 4 2019, 11:55 AM)
Capital berapa and auto invest?
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Low 4 digit. Yes auto invest
jack2
post Jan 4 2019, 09:32 PM

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QUOTE(WhitE LighteR @ Jan 4 2019, 08:49 PM)
Low 4 digit. Yes auto invest
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Why the FS App always need to relogin with password.
Bullorbear
post Jan 5 2019, 02:37 AM

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QUOTE(honsiong @ Jan 4 2019, 01:39 PM)
Look at MoolahSense on seedly reviews
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Interesting.. and comparing the reviews on MoolahSense vs Funding Societies.. lol totally different.
https://seedly.sg/reviews/p2p-lending/funding-societies
prince_mk
post Jan 5 2019, 02:18 PM

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QUOTE(elea88 @ Jan 3 2019, 10:35 PM)
U want give me FSM SINGPAORE referral code?
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okay..pm u.

This post has been edited by prince_mk: Jan 5 2019, 02:20 PM
vin_ann
post Jan 10 2019, 09:40 AM

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This morning BFM radio breakfast grille wih Fundaztic founder I think...

Later repeat at 1pm can go listen o later today listen from BFM radio podcast

As im not into Fundaztic, didn't really pay attention on numbers... Hell lot of numbers mentioned.

Btw, she said there's no repeat loan to SME, it's all new.

jack2
post Jan 11 2019, 09:32 AM

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There was new note yesterday. Anyone invested?
wizardofoz
post Jan 11 2019, 09:59 AM

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Some highlights from BFM interview with Kristine Ng, CEO of Fundaztic on 10 Jan 2019:

1) Default rate of Fundaztic is highest among all other P2P platforms
She defended this by saying that this is due to Fundaztic classifying notes as defaulted after being late for 2 consecutive months. Other platforms classify them as default after being late for 3 consecutive months. Moving forward, Fundaztic will follow the "industry standard".

Personal thoughts: I disagree. Whether classifying as default upon being late as 2 or 3 months does not matter. The fact remains that more of my Fundaztic notes has been defaulted as compared to other platforms such as Funding Societies. It goes to show that Fundaztic allows lower quality borrowers on its platform.

2) Plan to look into introduction of secondary market for P2P notes
Investors are demanding for shorter term notes and are unwilling to allow their funds to be locked up for 36 months. The demand is reflected in investor behaviour, where shorter terms notes are snapped up faster than longer term notes. Hence, a secondary market will allow investors to trade notes among themselves and exit their investment even before the 36 months tenure.

Personal thoughts: A good move to cater to the demand for more liquidity. However, even with a secondary market set up, I remain doubtful as to whether there will be enough buyers on the secondary market who are keen to purchase my notes. Still, it is something to watch out for.

This post has been edited by wizardofoz: Jan 11 2019, 10:03 AM
volaxe
post Jan 13 2019, 09:58 PM

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I think if Fz's weekly note releasing rate increases, will the default rate still be accurate as the fresh notes covers up the older notes?
WhitE LighteR
post Jan 14 2019, 08:33 AM

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MBBT-18070023 seems will be defaulting already. Notes say business closed down, owner move out. Owner owe loan sharks. Business used to be selling chicken.

This post has been edited by WhitE LighteR: Jan 14 2019, 08:34 AM
Bla Bla Sheep
post Jan 15 2019, 10:58 AM

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QUOTE(WhitE LighteR @ Jan 14 2019, 08:33 AM)
MBBT-18070023 seems will be defaulting already. Notes say business closed down, owner move out. Owner owe loan sharks. Business used to be selling chicken.
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Oh no, means the owner ran away already is it? Based on this situation, although FS take action to sue them, but the owner are not in their own house already, they never receive any lawyer letter, is it the owner still consider "safe"?
#Victor
post Jan 15 2019, 12:03 PM

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QUOTE(WhitE LighteR @ Jan 14 2019, 08:33 AM)
MBBT-18070023 seems will be defaulting already. Notes say business closed down, owner move out. Owner owe loan sharks. Business used to be selling chicken.
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Hopefully not cry.gif cry.gif Another high interest trap again... nooooo!
Dear Investor, We are still unable to contact the Note Issuer till date. We have conducted a site visit to the Note Issuer's business premise and the Proprietor's home address and found that the business is no longer operating and Proprietor has moved out from the house. The Proprietor is also involved in some debt issues with some Creditors and "loan sharks" since a month ago. We will continue to gather more information regarding the Proprietor's latest net worth and financial health before deciding on the next course of action. We will provide you with an update in 2 weeks time. Appreciate your kind understanding and continuous support.
jack2
post Jan 15 2019, 01:53 PM

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QUOTE(#Victor @ Jan 15 2019, 12:03 PM)
Hopefully not cry.gif  cry.gif Another high interest trap again... nooooo!
Dear Investor, We are still unable to contact the Note Issuer till date. We have conducted a site visit to the Note Issuer's business premise and the Proprietor's home address and found that the business is no longer operating and Proprietor has moved out from the house. The Proprietor is also involved in some debt issues with some Creditors and "loan sharks" since a month ago. We will continue to gather more information regarding the Proprietor's latest net worth and financial health before deciding on the next course of action. We will provide you with an update in 2 weeks time. Appreciate your kind understanding and continuous support.
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the most easier money...

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