elliotn
Member of DD Central
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Post by elliotn on Jan 24, 2018 14:21:41 GMT
Hi All Sorry we have been a little quiet on this one but we have had our noses to the grindstone. Here is an update: The new UI is in testing against mobile, tablet and various browsers. All seems to be OK right now. We have a slight delay as we wanted to be able to launch the new financial history section along with the new UI. We are well on the way to completing that and the devs tells us that it should be all done by Friday. If that is the case then we will be final testing over the weekend and launching on Monday/Tuesday. After launch we will be releasing all the details of the first portfolio loan, with a launch of the initial tranche shortly thereafter. We also have quite a few loans coming which we have delayed a little to coincide with the launch. Hope to give you all a firm launch date soon. Hi ablrate . Any update on when his will be launched? Couple of days per tweet today.
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hantsowl
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Post by hantsowl on Jan 24, 2018 14:49:08 GMT
Hi ablrate . Any update on when his will be launched? Couple of days per tweet today. Owls tend to hoot rather than tweet so i missed that.
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Post by GSV3MIaC on Jan 24, 2018 20:06:05 GMT
Is 'days per Tweet' some sort of inverse Trumpness measure?
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stub8535
Member of DD Central
personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jan 25, 2018 9:54:57 GMT
Is 'days per Tweet' some sort of inverse Trumpness measure? It will probably be as clear as a Trump tweetrant. Needing spin, sorry, detailed explanation, from support staff.
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Post by ablrate on Jan 25, 2018 10:19:12 GMT
Hi all
We are testing the financial statements but we are looking good for a launch of the UI on Tuesday.. and the first Portfolio Loan shortly after that. The Financial Statements have been the sticking point, but we are getting there.
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blender
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Post by blender on Feb 1, 2018 13:33:23 GMT
We're ready when you are, Mr Ablrate.
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Post by ablrate on Feb 1, 2018 17:29:43 GMT
We are working on the final doc.....
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savernake
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Post by savernake on Feb 2, 2018 7:45:23 GMT
A quick question regarding the ability to withdraw funds from the DPL. If one or more of the loans within a portfolio have defaulted, will this limit the amount a lender could withdraw from that portfolio? Would the lender still have full access to their funds, or only partial access?
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hantsowl
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Post by hantsowl on Feb 7, 2018 15:05:47 GMT
We are working on the final doc..... How is that final doc coming along?
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Post by ablrate on Feb 7, 2018 17:44:20 GMT
We are working on the final doc..... How is that final doc coming along? How is that final doc coming along?Pretty much there - all should be good for launch tomorrow.
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Post by ablrate on Feb 7, 2018 17:49:30 GMT
A quick question regarding the ability to withdraw funds from the DPL. If one or more of the loans within a portfolio have defaulted, will this limit the amount a lender could withdraw from that portfolio? Would the lender still have full access to their funds, or only partial access? The lender will have full access on the basis of someone else replacing you of course. On a DPL there will be a reduction in fees from our trailing fee to build up within the DPL to replace lost capital. Only if there is a large default rate (10%) will there be a halt and a run down of the DPL (with no further fees to us). We outline it here: 'Are there any further protections for my money and what is the 'Target Rate'?The SCPL is unaffected by this.
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Post by davids on Feb 7, 2018 18:21:49 GMT
Ablrate can you elaborate on your e-mail last week eluding to a new loan this week?
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blender
Member of DD Central
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Post by blender on Feb 7, 2018 23:00:19 GMT
A quick question regarding the ability to withdraw funds from the DPL. If one or more of the loans within a portfolio have defaulted, will this limit the amount a lender could withdraw from that portfolio? Would the lender still have full access to their funds, or only partial access? The lender will have full access on the basis of someone else replacing you of course. On a DPL there will be a reduction in fees from our trailing fee to build up within the DPL to replace lost capital. Only if there is a large default rate (10%) will there be a halt and a run down of the DPL (with no further fees to us). We outline it here: 'Are there any further protections for my money and what is the 'Target Rate'? it actually says 'and why is called a target rate?'The SCPL is unaffected by this. Thanks for this. From the link: 'Ablrate makes its money by charging the borrower 4% minimum above (it can be more, but not less) what you receive, this is our revenue on the loans.' Perhaps an up front fee as well? But that is not the major part. The new loan is an SCPL, but presumably the 4% annual or .33% monthly minimum fee will apply. Lenders are being offered 8%, and 8%+4% =12%. It so happens that the loans that the borrower currently has with us pay 12%, with no annual or monthy fee to Ablrate. Presumably the intention is to replace the current loans, with a few months to run, with this new facility. So I am wondering if this might be, in the main, a refinance of the current loans at a lower rate for lenders. Maybe the risk will be reduced, so that a reduction from 12% to 8% is justified, but the borrower is still paying 12% total. It's just being divvied up differently. I do support Ablrate having some monthly income from loans; it can improve supervision and platform resilience. But I rather wonder that if I bought this SCPL at 8%, to prepay my loan at 12%, I might be behaving a little like the proverbial turkey. (I like bird metaphors) I do understand that this is intended to be a longer term facility, and that some of the more recent borrowers are paying total rates which will encourage them to refinance asap. Perhaps we will have to become accustomed to our goose which laid the golden eggs for lenders, in future laying a silver egg for lenders and a bronze egg for Ablrate. The details will be interesting.
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Post by ablrate on Feb 8, 2018 10:04:43 GMT
The lender will have full access on the basis of someone else replacing you of course. On a DPL there will be a reduction in fees from our trailing fee to build up within the DPL to replace lost capital. Only if there is a large default rate (10%) will there be a halt and a run down of the DPL (with no further fees to us). We outline it here: 'Are there any further protections for my money and what is the 'Target Rate'? it actually says 'and why is called a target rate?'The SCPL is unaffected by this. Thanks for this. From the link: 'Ablrate makes its money by charging the borrower 4% minimum above (it can be more, but not less) what you receive, this is our revenue on the loans.' Perhaps an up front fee as well? But that is not the major part. The new loan is an SCPL, but presumably the 4% annual or .33% monthly minimum fee will apply. Lenders are being offered 8%, and 8%+4% =12%. It so happens that the loans that the borrower currently has with us pay 12%, with no annual or monthy fee to Ablrate. Presumably the intention is to replace the current loans, with a few months to run, with this new facility. So I am wondering if this might be, in the main, a refinance of the current loans at a lower rate for lenders. Maybe the risk will be reduced, so that a reduction from 12% to 8% is justified, but the borrower is still paying 12% total. It's just being divvied up differently. I do support Ablrate having some monthly income from loans; it can improve supervision and platform resilience. But I rather wonder that if I bought this SCPL at 8%, to prepay my loan at 12%, I might be behaving a little like the proverbial turkey. (I like bird metaphors) I do understand that this is intended to be a longer term facility, and that some of the more recent borrowers are paying total rates which will encourage them to refinance asap. Perhaps we will have to become accustomed to our goose which laid the golden eggs for lenders, in future laying a silver egg for lenders and a bronze egg for Ablrate. The details will be interesting.
The loan would simply have been paid back this year with no redraw. The company has also now been transformed on a financial basis which makes this proposition a stronger one than previously (even though that was very strong). The flexibility of the SCPL is also different. Essentially what you are getting is an 8% credit insured, no minimum term, diversified, IFISA eligible flexible access facility... one would imagine some investors on other platforms, locked in for year to get 4% would be pleased... ! The docs have all the info, looking forward to your feedback...
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elliotn
Member of DD Central
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Post by elliotn on Feb 8, 2018 10:44:43 GMT
Thanks for this. From the link: 'Ablrate makes its money by charging the borrower 4% minimum above (it can be more, but not less) what you receive, this is our revenue on the loans.' Perhaps an up front fee as well? But that is not the major part. The new loan is an SCPL, but presumably the 4% annual or .33% monthly minimum fee will apply. Lenders are being offered 8%, and 8%+4% =12%. It so happens that the loans that the borrower currently has with us pay 12%, with no annual or monthy fee to Ablrate. Presumably the intention is to replace the current loans, with a few months to run, with this new facility. So I am wondering if this might be, in the main, a refinance of the current loans at a lower rate for lenders. Maybe the risk will be reduced, so that a reduction from 12% to 8% is justified, but the borrower is still paying 12% total. It's just being divvied up differently. I do support Ablrate having some monthly income from loans; it can improve supervision and platform resilience. But I rather wonder that if I bought this SCPL at 8%, to prepay my loan at 12%, I might be behaving a little like the proverbial turkey. (I like bird metaphors) I do understand that this is intended to be a longer term facility, and that some of the more recent borrowers are paying total rates which will encourage them to refinance asap. Perhaps we will have to become accustomed to our goose which laid the golden eggs for lenders, in future laying a silver egg for lenders and a bronze egg for Ablrate. The details will be interesting.
The loan would simply have been paid back this year with no redraw. The company has also now been transformed on a financial basis which makes this proposition a stronger one than previously (even though that was very strong). The flexibility of the SCPL is also different. Essentially what you are getting is an 8% credit insured, no minimum term, diversified, IFISA eligible flexible access facility... one would imagine some investors on other platforms, locked in for year to get 4% would be pleased... ! The docs have all the info, looking forward to your feedback... Excellent post blender. Looking forward to reading these docs ablrate - a technically insolvent company making repeated annual losses kept afloat only by an elusive British Virgin Islands creditor. I will be scrutinising these docs to see how the equity joint venture will now transform this loss making venture into a consistently profitable one. I will also be interrogating what changes have occurred to the existing institutional grade credit insured (or bank letter of credit) and customer deposit security that warrants a substantial 1/3 cut to our coupon. The success of the portfolio model depends on such document scrutiny as you suggest.
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