des
Posts: 119
Likes: 78
|
Post by des on Oct 26, 2017 9:33:01 GMT
This seems to be mixed in with the limits discussion, and I believe it is a standalone issue that needs fixing, so thought I would set up a poll to see others opinions.
|
|
n
Member of DD Central
Yet another Nick
Posts: 879
Likes: 461
|
Post by n on Oct 26, 2017 9:45:02 GMT
I want them to be available before bidding starts but for me anything at least 1 hour would do, so I said 'no preference'. I think 24 hours might be more than Abl might be comfortable with. The poll is binary(ish) and I don't think it is easy to vote.
|
|
des
Posts: 119
Likes: 78
|
Post by des on Oct 26, 2017 10:53:29 GMT
I want them to be available before bidding starts but for me anything at least 1 hour would do, so I said 'no preference'. I think 24 hours might be more than Abl might be comfortable with. The poll is binary(ish) and I don't think it is easy to vote. Understood, I seemed to see at least 24 hours being requested most frequently in most of the previous comments on the subject. I don't see how you can do due diligence in 1 hour, but maybe that's just me
|
|
|
Post by Deleted on Oct 26, 2017 11:38:05 GMT
I'd like 4 hours.
I copy from ABL's email in response to a similar question from me.
"There is no easy solution to this and we are constantly reviewing our processes when we launch a 'New' loan. We endeavour wherever possible to give as much advance notice of up and coming loans outlining the Rate/Term/Interest or Amortising, enabling you to manage your account accordingly.
Because of the sensitivity of the commercial information available in our 'Proposal Documents' it has served us well with the majority of our Lending Community to share this information when it goes live. We fully accept that this is not a perfect solution, as neither is restricting lenders investment or bids. "
|
|
|
Post by Badly Drawn Stickman on Oct 26, 2017 12:08:40 GMT
I'd like 4 hours. I copy from ABL's email in response to a similar question from me. "There is no easy solution to this and we are constantly reviewing our processes when we launch a 'New' loan. We endeavour wherever possible to give as much advance notice of up and coming loans outlining the Rate/Term/Interest or Amortising, enabling you to manage your account accordingly. Because of the sensitivity of the commercial information available in our 'Proposal Documents' it has served us well with the majority of our Lending Community to share this information when it goes live. We fully accept that this is not a perfect solution, as neither is restricting lenders investment or bids. " I'm not sure the argument of sensitive commercial information holds much weight, once the loan is live it is constantly on view. I personally need a good 24 hours. I need others to do the technical searching so I can steal their work, that takes time. My talent if I have one is 'alternative thinking' I see what others miss, and miss what others see as a payoff. The time needs to be bearable to Albrate but sufficient to get a good grip on the overall picture. And then bid regardless apparently.
|
|
des
Posts: 119
Likes: 78
|
Post by des on Oct 26, 2017 12:31:57 GMT
I'm also not sure how "Sensitive commercial information" (that is visible after go live) being made available 24 hours beforehand is an issue for Abl, the only thing I can think of is that they are scared of poaching by competitors, surely that can be sorted contractually by making the loanee liable for fees once the proposal is published.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Oct 26, 2017 12:45:46 GMT
I think it will be a concern about what may be said about the loan here before bidding starts, perhaps unfairly. As well as a DD time, it will be a public tyre-kicking time.
|
|
|
Post by spectra on Oct 26, 2017 14:35:30 GMT
I’d say a minimum of 4 hours, given the arcane characteristics of some ABL loans it’s imperative that lenders have time to examine the proposition.
|
|
withnell
Member of DD Central
Posts: 550
Likes: 491
|
Post by withnell on Oct 26, 2017 15:22:44 GMT
I'm also not sure how "Sensitive commercial information" (that is visible after go live) being made available 24 hours beforehand is an issue for Abl, the only thing I can think of is that they are scared of poaching by competitors, surely that can be sorted contractually by making the loanee liable for fees once the proposal is published. Can't be this because the borrower needs to agree to the terms before drawdown, hence the delay between a loan filling and it moving from primary to secondary markets. ABL can't make a formal offer until they have the funds in place to make it, so everything prior to that is just indicative terms There is probably a commercial rationalle, in that they can attract borrowers who feel their business might be impacted during the "funding pending" phase and ABl offer to keep that as short as possible
|
|